PETALING JAYA: Orkim Bhd
has received a letter of award for a contract of affreightment (COA) from Boustead Petroleum Marketing Sdn Bhd (BHPetrol).
In a filing with Bursa Malaysia, Orkim said the value of the COA is on ‘cargo-nominations’ basis, whereby ‘cargo-nominations’ will be issued at the discretion of BHPetrol based on the schedule of rates as set forth in the COA, throughout the duration of the COA.
“As such, there is no firm value for the COA. Based on the letter of award, Orkim shall provide marine transportation services for an estimated quantity of 200,000 tonnes per annum, commencing from Jan 1, 2026 to Dec 31, 2027 with an option to roll over for a further one year, subject to the terms and conditions of the COA.
Orkim is principally involved in owning, chartering and operating vessels.
Orkim said the COA will not have any effect on its issued share capital or substantial shareholdings and is expected to contribute positively to its earnings and net assets over the duration of the COA.
