Malaysia's Keyfield International, through its wholly owned subsidiary Keyfield Offshore, has entered into an agreement to acquire a five-year-old DP2-capable platform supply vessel (PSV).
The vessel will be renamed Keyfield Gratitude and will be deployed into Keyfield’s vessel chartering business for its customers to transport materials and equipment between shore and offshore platforms. It also has an accommodation capacity of 59 persons.
The PSV will be acquired from Sinocommerce Harbour Engineering for a cash consideration of US$17.6 million, which will be funded via Keyfield’s Sukuk proceeds.
In addition, Keyfield expects to incur approximately US$2 million of its own internal funds for additional capital expenditure to bring the PSV back to Malaysia and to prepare it for operations.
"Since obtaining our PSV SWEC Code and our Panel Contractor Contract in November 2022 and April 2024 respectively, we have been invited to bid for PSV chartering contracts," said Keyfield’s Group Chief Executive Officer and Executive Director Dato’ Darren Kee.
"We believe that Gratitude will make an excellent addition to our fleet as it can be utilised to fulfil such invitations to bid. Furthermore, it fits well with our business expansion strategy to broaden our service offerings to our customers as outlined in our IPO Prospectus."