Orkim plans five additional tankers between 2027 and 2029
The group has taken early delivery of MT Orkim Jade, lifting its fleet to 21 vessels and total carrying capacity to 281,534 DWT.
Orkim Bhd plans to expand its fleet with five additional tankers between 2027 and 2029, with Orkim Ruby expected to arrive first in 2027, according to chief executive officer Captain Cheah Sin Bi.
Two clean petroleum product tankers are scheduled to follow in 2028, each offering 9,000 deadweight tonnes (DWT) of capacity. Orkim said it has signed contracts to build both vessels as part of its longer-term expansion programme.
Separately, the group received the 14,500 DWT petroleum tanker MT Orkim Jade ahead of schedule from Fujian Southeast Shipyard. The delivery was made through Orkim Marine Sdn Bhd, its wholly owned subsidiary. Orkim said the vessel increased its carrying capacity by 5.4%, taking the total to 281,534 DWT across 21 vessels.
Commercial operations for Orkim Jade are expected to start in November under a charter with Shell Malaysia Trading Sdn Bhd and Shell Timur Sdn Bhd. Secured in September 2024, the arrangement runs initially for three years, with extension options covering another three years and then two years.
Orkim said the tanker is its first to carry an onboard nitrogen generation system. It also has fuel-efficient engines intended to improve operating efficiency and lower emissions.
Cheah cited a favourable outlook for the tanker market and changes to Malaysian shipping policies, including industry tax incentives, as support for the expansion plans. He said the early delivery would help the group optimise fleet capacity, while the long-term charter would improve visibility over future earnings.
