KUALA LUMPUR (June 24): Offshore support vessel provider Keyfield International Bhd (KL:KEYFIELD) has secured 13 charter contracts worth RM229 million across Malaysia, Thailand and the Middle East.
The contracts, which carry extension options worth an additional RM41 million, are expected to strengthen the group's earnings visibility through 2027 while supporting its strategy to diversify geographically and expand its international presence.
In a press statement on Wednesday, the group said the contracts involve a mix of vessels from its own fleet as well as third-party vessels.
The contracts will support various offshore oil and gas activities for petroleum arrangement contractors and oil and gas service providers in the three regions.
The latest wins bring Keyfield's total contract awards secured in the first half of 2026 to 21, including eight contracts announced earlier this year.
Group chief executive officer and executive director Datuk Darren Kee Chit Huei in a statement said the new contracts demonstrate continued momentum in the group's global diversification strategy.
"The contracts will not only reduce our geographical concentration risk but also deliver a new growth catalyst for the group," he said.
The contracts have either commenced or are scheduled to commence in the second and third quarters of 2026, with firm charter periods ranging from one month to 17 months. Some of the contracts also include extension options ranging from 15 days to five months.
Keyfield said the contracts are expected to contribute positively to its earnings and net assets for the financial year ending Dec 31, 2026 (FY2026) and FY2027.
The company added that 12 of its 14 owned vessels are currently on hire, while the remaining two vessels are expected to secure employment by early in the second half of 2026 after completing operational inspections by customers.
Shares in Keyfield closed up two sen or 1.3% at RM1.54 on Wednesday, valuing the group at RM1.25 billion. Over the past one year, the stock has declined 11.5%.
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