Yinson Receives 6 Month Extension From FPSO PTSC Lam Son Worth RM37.5 Million

Yinson Holdings Berhad starts the year on a bright note as its joint venture company with PetroVietnam Technical Services Corporation, PTSC Asia Pacific Pte Ltd, has just received a 6-month extension for the Bareboat Charter Contract for FPSO PTSC Lam Son.

The extension is part of the deal entered into by the PetroVietnam Technical and PTSC AP mid last year, which sets a 6-month firm period from July 2021 to December 2021, and a 6-month option period from January 2022 to June 2022, which shall be automatically granted if no notice of termination is received.

The value of the Bareboat Charter Contract for the 6-month option period extension is estimated at USD9 million (RM37.5 million). PTSC AP is 49% and 51% owned by Yinson and PTSC.

Yinson Group Chief Executive Officer Lim Chern Yuan said, “We are pleased to be able to continue our partnership with PTSC to provide high uptime and excellent safety record with FPSO PTSC Lam Son.

Previous articleRHB Research: Overweight On Banking Stocks
Next articleInvestors To Focus On Beaten Down Stocks in 2022: Malacca Securities


Please enter your comment!
Please enter your name here