KUALA LUMPUR: Orkim Bhd
said its wholly-owned subsidiary Orkim Reliance Sdn Bhd has extended the existing Consecutive Voyage Charter (CVC) contracts with Shell Malaysia Trading Sdn Bhd and Shell Timur Sdn Bhd for a further six months, commencing Aug 16, 2026.
Following this extension, the charterers retain the option to further extend the contracts for three successive six-month periods, subject to the terms and conditions of the existing CVC contracts.
The CVC contracts continue to operate on a cargo nomination basis, whereby cargo movements are scheduled at the discretion of the charterers based on the agreed schedule of rates throughout the contract period.
