Keyfield International Sells Workboat to Saraf Corporation

Offshore support and accommodation vessels company Keyfield International has announced the sale of one of its workboats to India’s Saraf Corporation. The vessel in question is the 2014-built Keyfield Lestari, which has been sold for a cash consideration of $12.5 million.

The sale is set to be finalized in June 2025, coinciding with the conclusion of the vessel’s current charter to another customer in India. This strategic move comes at a time when the vessel is actively deployed in the region.

Keyfield Group CEO and executive director, Darren Kee Chit Huei, shared insights on the sale, stating, “The disposal is intended to unlock Lestari’s value, bringing in a profit of approximately RM28 million ($6.3 million) to the group. The proceeds from the disposal will be utilized for working capital and to finance the acquisition of other vessels, which the group will continue to carefully assess and evaluate.”

This sale marks a significant development for Keyfield International, allowing the company to streamline its operations and capitalize on the vessel’s value while exploring new opportunities for growth and expansion in the maritime industry.