KUALA LUMPUR (Feb 24): Orkim Bhd (KL: ORKIM) has secured a time charter contract from PETCO Trading Labuan Company Ltd, an indirect wholly-owned subsidiary of Petroliam Nasional Bhd (PETRONAS), for the provision of marine transportation services.

The duration of the contract is six months, with an option to renew for another six months. Assuming the extension option is exercised, the contract is valued at RM32 million, Orkim said in a bourse filing on Tuesday (Feb 24).

The marine transportation group added that it entered into the agreement via its wholly-owned subsidiary, Orkim Marine Sdn Bhd.

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