“We have never been in such a good position to negotiate contracts,” Chief Executive Officer Lim Chern Yuan said in an interview at his office in Singapore last week. “With our order book, we are looking at closer to a billion dollars of Ebitda by 2025, 2026.”
Vessels known as floating production storage and offloading units are key pieces of infrastructure used by energy companies for offshore oil and gas extraction and processing. Yinson, which has FPSO contracts with firms including Brazil’s state oil company Petrobras and the Angolan joint venture of energy majors BP Plc and Eni SpA, will add three new vessels in the next few years, Lim said.
In 2021, Yinson teamed up with an investment arm of SMRT Corp., Singapore’s public transit operator, to co-invest in driverless vehicle technology startup MooVita Pte. Backed by its Yinson GreenTech arm, its chargEV electric vehicle charging infrastructure network operates more than 350 charging stations in Malaysia and two in Singapore, according to its website.