PETALING JAYA: Orkim Bhd, a marine transportation company in Malaysia, wholly owned subsidiary Orkim Marine Sdn Bhd took delivery of Orkim Jade at Fujian Southeast Shipyard, ahead of its scheduled delivery date.
Orkim Jade is the newest Malaysian-registered clean petroleum products tanker with a deadweight tonnage (DWT) of 14,500 metric tonnes. With the addition of Orkim Jade, the group’s fleet has expanded to 21 vessels, with total load capacity increasing by 5.4% to 281,534 DWT. The vessel is powered by high-efficiency engines and is the first vessel integrated with an onboard Nitrogen Generation System in its fleet.
Orkim Jade is expected to commence commercial operations in November 2026 and contribute positively to the group. The vessel has secured a long-term Consecutive Voyage Charter (CVC) contract with Shell Malaysia Trading Sdn Bhd and Shell Timur Sdn Bhd in September 2024. The contract comprises an initial firm period of three years, with extension options of a further three years and an additional two years, potentially extending the charter arrangement until 2035.
Orkim CEO Captain Cheah Sin Bi said, “The successful delivery of Orkim Jade, our third addition this year, marks another significant milestone in our ongoing fleet rejuvenation programme. With a long-term charter contract secured with Shell Malaysia, the early delivery enables us to optimise our fleet capacity, enhance fuel efficiency, and reduce our overall emissions intensity, while providing greater visibility over our long-term earnings.”
He added that the positive outlook for the tanker market, coupled with recent enhancement of the national shipping policies, including the shipping tax incentive, further support the group’s investment strategy and remain focused on a well-defined, long-term expansion plan to continue leading the way in energy transportation.
Looking ahead, he said they plan to add another five vessels to their fleet between 2027 and 2029, beginning with the expected delivery of Orkim Ruby in 2027.
As part of this expansion plan, he added they have signed shipbuilding contracts for two additional 9,000 DWT CPP tankers, scheduled for delivery in 2028.
“These additions will further strengthen our carrying capacity and enhance our regional fleet deployment capabilities. This will further optimise our regional fleet deployment. Our expansion strategy remains disciplined and commercially driven, focusing on acquiring the right assets at the right time, supported by strong market fundamentals and long-term customer demand,” said Cheah.
He further said that they remain committed to sustainable growth rather than expansion for its own sake, as they continue strengthening their position as a leading marine transportation player in Malaysia.
