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KUALA LUMPUR, Malaysia (July 1): Yinson Holdings Bhd announced that its floating production storage offloading (FPSO) vessel Lam Son has been granted a new contract term for an estimated US$18.1 million off the coast of Vietnam (RM75.17 million).
Yinson said its joint venture (JV) PTSC Asia Pacific Pte Ltd has signed into an addendum with PetroVietnam Technical Services Corporation to prolong the term of its bareboat charter contract (PTSC).
The extension is for a six-month firm period in the second half of 2021 and a six-month option period in the first half of 2022.
The JV is owned by Yinson and PTSC, who have a 49:51 ownership. The initial deal was valued US$122.87 million and ran from July 1, 2017 to June 30, 2021.
Yinson’s stock fell two sen today, or 0.4 percent, to RM4.99, valuing the FPSO operator at RM5.49 billion.
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