119 ANNUAL REPORT 2022 STRATEGY & OUTLOOK BUSINESS REVIEW - OFFSHORE MARINE & MALAYSIA OPERATIONS Completion of dry dock for PTSC Lam Kinh PTSC Lam Kinh had completed a planned dry dock in December 2021. The dry docking experienced some delays mainly due to additional, stringent Covid-19 measures authorised by local port authorities, causing the 20-day programme to be extended to 24 days. After dry docking, the vessel sailed to Batam, Indonesia for the bollard pull certification before sailing back to Malaysia to arrive at Kemaman Port on 6 December 2021. Covid-19 update As the industry transitions from pandemic to endemicity, the overall strategy of the Green Bubble Framework, implemented under the purview of Malaysian Petroleum Management (“MPM”), has proven effective. Under the framework, more stringent SOPs were put in place to ensure there were no gaps in crew vaccination status at all times. Adherence to the framework has improved our business continuity in comparison with the first year of the pandemic. Thanks to the collaboration with our clients as well as active membership with the Malaysian Ship Owners Association, we were able to expedite our vaccination programmes. Our crew were amongst the earliest seafarers to be vaccinated in Malaysia and are now fully vaccinated including booster shots, and our fleet has remained Covid-free since the beginning of the pandemic. We attribute these successes to the smooth implementation of our Covid-19 Outbreak Management Plan, which was diligently updated in line with MPM recommendations. HSE performance Our fleet had Zero LTIs across all assets and recorded seven HSEQ-related incidences throughout the year. All the incidences were low risk, namely 1 first aid case, 3 low-impact property damage cases and 3 near misses. All incidents were reported and investigated. REGULUS OFFSHORE HSE PERFORMANCE FYE 2020 FYE 2021 FYE 2022 Fatalities 0 0 0 Lost Time Injury 0 0 0 Medical Treatment Case 0 0 0 Restricted Work Case 0 0 0 First Aid Case 0 0 1 Lost Time Injury Frequency 0.00 0.00 0.00 Total Recordable Injury Frequency 0.00 0.00 0.00 Awards We received the Logistic Operator Safety and Operations Excellence Award from our end client for the charter of PTSC Lam Kinh - the third subsequent year that we have received this award. The award qualification was based on zero highimpact incidents, high-performance HSE Plan scoring results, HSE walkabout findings and closeout, fuel optimisation, and high operational uptime with no downtime disruptions. Maintaining the award for three years in a row despite the pandemic has spurred us to pursue our passion in delivering powerful solutions. CLOSING REMARKS Our sincere thanks to PETRONAS, the Government of Malaysia, our clients and all our other stakeholder groups for the tremendous support provided to us in the year. A great shoutout goes to our crew and employees, who have made sacrifices to keep our operational and safety performance at top level. As an organisation that was founded, and is currently headquartered in Malaysia, Yinson is committed to contributing back to this country. Thus, we will continue to operate responsibly and do our part to fully support Malaysia’s decarbonisation efforts towards a net zero future.
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