Malaysian tanker owner and operator Orkim has entered into a time charter contract for one of its vessels with Petronas’ trading arm, PETCO Trading Labuan Company. Under the contract, the charter period is for six months commencing from the end of February 2026, with an option to extend for a further six months. According to the company, if the extension option is exercised, the estimated total contract value is RM32m ($8.2m). The company stated that the charter was awarded through its wholly owned subsidiary, Orkim Marine, and that the chartered vessel was the 2012-built Orkim Citrine MR2 tanker with 49,999 dwt. Cheah Sin Bi, Orkim’s CEO, said this contract would be a key driver of the company’s regional route expansion, as it covers the Far East and the Persian Gulf. “It will also strengthen our order book and enhance the earnings visibility of the Group, positioning Orkim to better navigate market dynamics while maintaining stable fleet utilisation,” he added. googletag.cmd.push(function() { googletag.display('div-gpt-ad-1_95_0_1_2'); }); TagsMalaysia