Yinson Annual Report 2021

60 YINSON HOLDINGS BERHAD SECTION 02 : BUSINESS REVIEW OFFSHORE MARINE Our Offshore Marine Division’s fleet utilisation rates dropped to 76.8% in FYE 2021 compared to 92.7% in the previous financial year. We experienced lower demand resulting from the slowdown in offshore activities and movement restrictions arising from the Covid-19 pandemic. As we position ourselves for the global energy transition, the Group will be seeking to streamline our offshore marine business through synergistic mergers with strategic partners. During the low season, we focused on maintaining strong operational and safety performance, upskilling our crew, upgrading our assets and exploring business development opportunities. In Q3, Yinson Hermes underwent a successful 19-day drydock and engine overhaul in Singapore after serving for nearly 5 years in Gabon. The asset also received bollard pull certification in Labuan, Malaysia, shortly after. In Q4, Yinson Perwira successfully completed drydock, including engine and underwater equipment overhaul, in Singapore. Dynamic Positioning Failure Modes and Effects Analysis trial and bollard pull certification were completed at Batam prior to redelivery to Labuan. Our efforts were acknowledged through the receipt of two Marine Vessel Safety and Operational Excellence Awards from client, Repsol Oil and Gas Malaysia Limited. The awards were in recognition of the commendable performance by PTSC Huong Giang and PTSC Lam Kinh, which had maintained 100% uptime and achieved around 10,000 safe manhours. LIM CHERN WOOI CEO Offshore Marine OFFSHORE MARINE DIVISION’S HIGHLIGHTS FYE 2021 Covid-free across all assets Zero LTIs across all assets 76.8% average fleet utilisation rate 2 safety awards received LIM CHERN WOOI CEO Offshore Marine OFFSHORE MARINE

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