Passionately delivering powerful solutions
In 1983, Yinson was founded by Lim Han Weng as a humble transport and logistics company in Johor Bahru, Malaysia. Thanks to an unwavering commitment to excellent customer service and on-time delivery, the little company grew exponentially. In 20 years, Yinson became one of Malaysia’s biggest transport companies, operating a fleet of 365 trucks and supplying a further 565 trucks to our customers.
In 2010, Yinson expanded our services to cover marine transport with the acquisition of five tugboats. That same year, we won a contract for port cargo handling services in Vietnam.
One year later, Yinson stepped foot into the oil and gas industry by forming a consortium with PetroVietnam Technical Services Corporation (PTSC, a subsidiary of PetroVietnam). The joint venture company was awarded a contract for the charter of a floating, storage, and offloading vessel (FSO), FSO PTSC Bien Dong 01. This paved the way for Yinson to win a contract for the charter of a floating, production, storage, and offloading vessel (FPSO), FPSO PTSC Lam Son.
In 2014, our business was further strengthened with the acquisition of established Norwegian FPSO company, Fred. Olsen Production ASA – a company that shares our commitment to excellence and strategy for long-term charter contracts. Through the acquisition, Yinson inherited a strong and experienced team, as well as contracts for a further three FPSO vessels, and a mobile offshore production unit (MOPU).
By mid-2016, Yinson divested its non-oil and gas business divisions, streamlining the business to become a full-fledged oil and gas company.
Today, with our diversified geographical presence and extensive engineering and operational expertise, Yinson has grown to become the 6th largest independent FPSO leasing company in the global FPSO market. Our geographical presence extends across the world, from West Africa, the Americas, Europe and South East Asia.
Gearing for growth, in 2019 Yinson diversified into a third business division – renewables
Yinson currently operates three business divisions - Offshore Production, Renewables, and Offshore Marine
Yinson provides integrated services for the offshore oil and gas industry. We design and construct vessels, then lease them, while also providing operations and maintenance services.
Yinson’s 5-10 year vision is for renewables to be an additional major revenue stream, where we will build, own, and operate renewable generating assets. The primary focus will be on onshore wind and solar, but may also include offshore wind, hydro and other opportunities.
Yinson’s offshore marine services are a supporting revenue stream for the company, where we own, operate, and charter OSVs to support services to the energy industry.
Through strategies contained in our business model, Yinson is poised to create long term value for all our stakeholders.