Keyfield Ventures (Labuan) Ltd (KVL) has signed an agreement with Taizhou Sanfu Ship Engineering Co Ltd to purchase a 98-meter tugboat equipped with a Level 2 Dynamic Positioning System (DP2).
The tugboat will be renamed Keyfield Blessing (KBlessing) and will be chartered for US$20.55 million (RM90.8 million) for one year.
Meanwhile, KVL has also entered into an agreement with Deijing Group Co Ltd to charter a bareboat vessel for a period of one year.
The vessel will then be moved to Saudi Arabia for a new project before being returned to Malaysia.
The main goal of this agreement is to diversify its business strategy, reduce its dependence on the oil and gas sector and play a role in expanding the company's operations.
During the bareboat charter period, Deijing will bear all operating costs of the vessel, while KVL will only bear the insurance costs.
