Orkim Bhd’s existing Consecutive Voyage Charter contracts with Shell Malaysia Trading Sdn Bhd and Shell Timur Sdn Bhd have been extended by a further six months, effective Aug 16, 2026.
The extension was formalised through an addendum entered into by Orkim’s wholly-owned subsidiary, Orkim Reliance Sdn Bhd, with the two Shell entities.
Following the six-month extension, Shell retains the option to extend the contracts for three additional six-month periods, subject to the existing terms and conditions.
The contracts will continue to operate on a cargo nomination basis, with cargo movements scheduled at the discretion of the charterers according to the agreed schedule of rates.
Orkim Chief Executive Officer Captain Cheah Sin Bi said the extension reflects the group’s continued partnership with Shell Malaysia in supporting the country’s energy supply security.
Cheah added that while geopolitical developments continue to influence global oil trade flows, underlying tanker demand and supply fundamentals remain supportive.
He said the group’s fleet expansion plans remain intact as Orkim continues to pursue its growth objectives and meet the evolving needs of customers.
