Selangor, 24 February 2026 – Orkim Berhad (“Orkim” or “the Group”) has secured a new time charter contract through its wholly owned subsidiary, Orkim Marine Sdn. Bhd., with PETCO Trading Labuan Company Limited (“PTLCL”), reinforcing the Group’s regional expansion strategy.
The contract covers a six-month charter period commencing end-February 2026, with an option for a further six-month extension. Should the extension be exercised, the estimated total contract value is up to RM32.0 million.
Expanding Regional Footprint
Under the agreement, the vessel Orkim Citrine will be deployed to serve routes spanning the Far East and the Persian Gulf, marking a strategic step in strengthening Orkim’s operational footprint across key international shipping corridors.
Orkim’s Chief Executive Officer, Captain Cheah Sin Bi, said the award reflects continued confidence in the Group’s operational capabilities amid evolving market dynamics.
“We are pleased that Orkim has secured a longer-term and firm time charter with PTLCL, reflecting the continued confidence placed in Orkim’s capability amid an evolving marine transportation landscape,” he said.
The deployment of Orkim Citrine is expected to enhance the Group’s exposure to broader international waters while supporting stable fleet utilisation.
Strengthening Order Book and Earnings Visibility
The contract is anticipated to strengthen Orkim’s order book and provide improved earnings visibility over the charter period. With the marine transportation sector navigating fluctuating freight rates and geopolitical shifts, longer-term charter arrangements offer revenue stability and operational predictability.
The new engagement with PTLCL also underscores Orkim’s ability to secure contracts across diversified regional trade lanes, positioning the Group to better manage market volatility while sustaining utilisation levels across its fleet.
Outlook
As global energy flows and marine logistics routes continue to adjust to evolving supply-demand patterns, Orkim remains focused on securing quality charter contracts that balance duration, route diversification and revenue stability.
The latest contract award supports Orkim’s strategy of disciplined fleet deployment and regional expansion, reinforcing its position as one of Malaysia’s established marine transportation operators.
