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The weaker performance was attributed to reduced chartered days and lower daily rates for both the group’s own and third-party vessels, amid subdued offshore activity and uncertainty in the local oil and gas sector. Utilisation rates for the quarter fell to 81.4% from 99.2% a year earlier, while year-to-date utilisation stood at 67.5% versus 88.4% in 2024, affected partly by higher maintenance and dry-docking requirements.
Keyfield International Bhd flagged continued low vessel utilisation rate over the coming quarters due to the monsoon season in the South China Sea. The group announced a 49% decline in net profit to RM41.34 million for the third quarter ended Sept 30, 2025, while its quarterly revenue fell 39% year-on-year to RM132.35 million. The group declared a third interim dividend of two sen per share, or RM16.1 million, payable on Dec 11.
Keyfield just released its Q3 results. Revenue came in at RM132.3 million with a net profit of RM41.3 million. The dip in revenue was mostly because of softer demand in Malaysia’s OSV market ...
Keyfield isn’t an upstream oil and gas company, it doesn’t drill or produce oil. Instead, it provides offshore accommodation and support services that keep platforms running, making its business more stable and less affected by oil price swings. Its main clients include PETRONAS Carigali, Shell, and PTTEP. The company is also reducing reliance on oil and gas by targeting up to 20% of revenue from new areas like subsea cable laying and offshore renewables, marking a move toward becoming a broader marine and offshore service provider.
