KUALA LUMPUR: Orkim Bhd is buying an IMO Type II oil and chemical tanker for 157 million renminbi as part of its fleet expansion and rejuvenation strategy.
In a filing with Bursa Malaysia today, the shipping company said its wholly-owned Orkim Ambition Sdn Bhd had signed a memorandum of agreement with Marshall Islands-incorporated Allcontinents International Shipping Ltd to buy the vessel, MT Rong Yao Wu Zhou.
The acquisition will be fully funded by proceeds from Orkim’s existing sukuk issuance programme, together with estimated start-up costs of RM4.2 million.
Built in 2025, the tanker has a deadweight tonnage of 13,988 tonnes and is expected to be delivered between Sept 15 and Oct 20 this year at Singapore Anchorage.
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