Orkim Bhd posted profit after tax (PAT) of RM47 million for the first half ended June 30, 2026 (1H26), up 6.8% year-on-year, as additional fleet capacity lifted revenue 14.9% to RM175.4 million.
The marine transportation group said the stronger topline, from RM152.7 million a year earlier, was supported by its enlarged fleet and stable fleet utilisation of 91% during the period.
The earnings improvement came despite higher depreciation and amortisation expenses arising from additional vessels, as well as increased finance costs.
For the second quarter, Orkim recorded revenue of RM87.3 million and PAT of RM22.9 million. Clean petroleum products remained its dominant business, accounting for 94.3% of quarterly revenue, with the remainder coming from liquefied petroleum gas transportation.
There are no year-on-year quarterly comparisons as Orkim was only listed on Bursa Malaysia’s Main Market on Dec 9, 2025.
Chief Executive Officer Captain Cheah Sin Bi said the group continued advancing its fleet expansion and rejuvenation strategy, with new vessel Orkim Garnet beginning to contribute in mid-June.
The upcoming addition of Orkim Opal, together with further newbuild vessels in the pipeline, is expected to progressively expand fleet capacity and strengthen Orkim’s vessel mix and service capabilities.
Cheah said Orkim will remain focused on disciplined fleet deployment, operational efficiency and prudent capital management, supported by established customer relationships and recurring contract arrangements.
