OSV Market Sees Strong Demand As Offshore Activities Rise
OSV Market Sees Strong Demand As Offshore Activities Rise
According to Kenanga, the above-noted combined revenues from the AWBs and AHTS were considered in line with expectation of RM129,000 DCR in 2024 for AWBs and chartered third-party vessels. Keyfield International Berhad (Keyfield) is expected to ride the high waves of strong demand for the Offshore Support Vessel (OSV) services in the second half of the year, as analysts project upward trend for the local OSV market in view of rising demand against tight supply.
預計Keyfield International Berhad（Keyfield）將在下半年順應海上支援船（OSV）服務的強勁需求，因爲分析師預計，鑑於需求增加而供應緊張，當地OSV市場將呈上升趨勢。
The company earlier won eight work order awards (WOAs) from Petronas Carigali Sdn Bhd involving six accommodation work boats (AWB) and two anchor handling tug & supply (AHTS) vessels under its Panel Contractor Contract (PCC). The work orders were valued at approximately RM130.3m, with duration ranging from 91 to 153 days per vessel.
該公司早些時候贏得了Petronas Carigali Sdn Bhd頒發的八項工單獎勵（WOA），涉及其小組承包商合同（PCC）下的六艘住宿工作船（AWB）和兩艘錨處理拖船和補給（AHTS）船。這些工單的價值約爲130萬令吉，每艘船的工期從91天到153天不等。
Under the deals, the implied daily revenue per vessel, inclusive of daily charter rate (DCR), catering, and other auxiliary services, amounts to RM100,000-110,000 for the AWBs. The work orders utilised four of Keyfield's own vessels and two chartered vessels. The two AHTS vessels, on the other hand, were chartered, with DCRs ranging between RM50,000 – RM55,000.
根據這些協議，每艘船的隱含每日收入，包括每日租船費率（DCR）、餐飲和其他輔助服務，AWB的隱含每日收入爲100,000-11萬令吉。工作訂單使用了Keyfield自己的四艘船和兩艘包租的船。另一方面，這兩艘AHTS船是租用的，DCR的價格在5萬令吉至55,000令吉之間。
According to Kenanga, the above-noted combined revenues from the AWBs and AHTS were considered in line with expectation of RM129,000 DCR in 2024 for AWBs and chartered third-party vessels.
根據凱南加的說法，上述空運包和AHTS的合併收入被認爲與2024年AWB和第三方包租船舶12.9萬令吉的預期一致。
Keyfield is currently in the peak season of OSV market (typically 2Q and 3Q of the year), and vessel utilisation is expected to remain strong going into the third quarter.
Keyfield目前正處於OSV市場的旺季（通常是每年的第二季度和第三季度），預計船舶利用率將在第三季度保持強勁。
The group took delivery of Keyfield Itqan (formerly known as Belait Barakah), a 239-pax accommodation work barge, on 3rd July 2024. Keyfield Aulia (a second-hand AHTS vessel) was also added to the company's fleet after being delivered on 13 August 2024. These vessels are expected to start contributing from the fourth quarter onwards, further driving earnings growth. Overall, DCRs are projected to trend upward in the local OSV market, as supply remains tight while client demand continues to increase.
該小組於2024年7月3日交付了Keyfield Itqan（前身爲Belait Barakah），這是一艘可容納239人的住宿工作駁船。Keyfield Aulia（一艘二手 AHTS 船）在 2024 年 8 月 13 日交付後也加入了公司的船隊。預計這些船隻將從第四季度開始做出貢獻，進一步推動收益增長。總體而言，由於供應仍然緊張，而客戶需求持續增加，預計本地OSV市場的DCR將呈上升趨勢。
Kenanga maintains its earnings forecasts for Keyfield, a target price (TP) of RM3.18 and an OUTPERFORM call.
Kenanga維持其對Keyfield的收益預測，目標價（TP）爲3.18令吉，並維持跑贏大盤的看漲期權。
As at 10:30am Thursday, Keyfield's stock traded at RM2.40. (Stock updates from )
截至週四上午10點30分，凱菲爾德的股票交易價格爲2.40令吉。（來自的股票更新）
譯文內容由第三人軟體翻譯。
