ORKIM Berhad offers four distinct chartering options tailored to suit different operational needs — from long-term contracts to urgent, one-time shipments. Our flexible arrangements ensure reliable vessel availability, clear terms, and cost-effective marine transport solutions for every client.
ORKIM Berhad offers four distinct chartering models designed to suit the operational and commercial needs of different clients. Each contract type varies in duration, pricing, and level of control, allowing for flexible arrangements depending on cargo volume, frequency, and destination.
Customers charter the Group’s fully-manned vessels for exclusive use during a specified contract period, typically ranging from 1 to 5 years, with extension options of a further period of up to 5 years. The customer has full control of the vessel’s commercial management.
Under a Time Charter contract, the Group charges the charterer an agreed fixed DCR during the charter period. The DCR may be prorated for any part of a day, from the time and date of the delivery to the charterer until the time and date of redelivery to the Group. The Group invoices its customers in advance at the start of the month based on the number of the days in the month with adjustments made by the Group’s customers based on their estimated off-hire periods. Off-hire periods refer to any events that result in a loss of vessel operating time, including among others, scheduled or ad-hoc maintenance, suspension of sailing due to industrial action, the need for medical treatment for sick or injured individuals or detention of the vessel by authorities due to legal action.
Under a Time Charter contract, the charterer bears all other variable operational costs, such as bunker, port and other associated charges. On the other hand, the Group bears vessel-related costs (such as surveys, licenses and registrations, insurance, maintenance, repair, spare parts) and crew-related expenses. In addition, the Group is subjected to LAD for any delay in the delivery of the vessel at the agreed DCR per day as stipulated in the contract. For the Financial Years Under Review and up to the LPD, the Group has not experienced any LAD claims.
Customer leases a fully-manned vessel from ORKIM Berhad for a fixed period (1–5 years).
Charged a specific rate per day regardless of cargo.
Customer manages voyage route and schedule.
Customers charter the Group’s fully-manned vessels for exclusive use for a fixed number of journeys over a contracted period, typically ranging from 1 to 3 years, with extension options. In the event the charterer requests for the tanker to undertake a journey to and from any port not listed in the charter contract, both parties shall negotiate in good faith, a freight rate for such voyage calculated on the same basis as the existing freight rates.
Under a CVC contract, the Group charges the charterer an agreed freight rate for each voyage, from loading to discharge ports, during the charter period and invoices its customers upon completion of each voyage. The freight rates are subject to a monthly bunker adjustment to account for movements in market bunker prices.
The charterer bears all cargo-related costs such as bulk liquid handling charge, cargo permit, customs due on cargo clearance and other handling charges. In addition, the charterer is obliged to pay a demurrage fee to the Group if loading or discharging operations exceed the agreed laytime for each voyage.
The Group bears vessel-associated costs (such as surveys, licences and registrations, insurance, maintenance, repair, spare parts, port and related charges) and crew-related expenses.
Customer charters a fully-manned vessel from ORKIM Berhad for repeated shipments over a fixed period (1–3 years).
ORKIM Berhad bears all vessel-associated costs, including port, crew, and repair-related expenses.
Customers charter the Group’s fully-manned vessels to transport a specified amount of a specified type of cargo to a specific loading to discharge port, with contract period typically ranging from 1 to 2 years, with extension options for a further period of up to 1 year. The schedule of shipments is agreed upon and confirmed on a monthly basis. The Group’s vessels are not solely dedicated to the charterer and can be rotated or used for spot charter when the vessels are available.
Under a COA contract, the Group charges the charterer an agreed freight rate for each voyage, during the charter period and invoices its customers based on bill of lading presented by Orkim upon completion of each voyage. The freight rates are subject to a monthly bunker adjustment to account for movements in market bunker prices.
The charterer bears all cargo-related costs such as freight tax and all shore-related expenses in connection with the cargo, mooring charges (if incurred) and shifting expenses between berths at a single loading or discharging port (if incurred). In addition, the charterer is obliged to pay a demurrage fee to the Group if loading or discharging operations exceed the agreed laytime for each voyage.
The Group bears vessel-associated costs (such as surveys, licences and registrations, insurance, maintenance, repair, spare parts, port and related charges) and crew-related expenses.
ORKIM Berhad transports cargo based on a monthly agreed shipment plan — perfect for recurring needs.
Charged by freight rate per tonne with monthly bunker adjustment, helping manage costs efficiently.
Vessels are rotated or assigned as needed, maximizing fleet availability and flexibility.
All vessel-associated costs and crew expenses are covered by ORKIM Berhad.
Customers charter ORKIM Berhad fully-manned vessels for a single voyage without a long-term commitment. This flexible arrangement is ideal for ad-hoc or urgent cargo transportation needs, offering rapid deployment and competitive rates. Charter rates are determined based on prevailing market freight rates between the loading and discharge ports at the time of agreement, allowing customers to take advantage of current pricing conditions.
Under this arrangement, ORKIM Berhad retains responsibility for all vessel operations and associated costs, including crew management, bunker fuel, port charges, insurance, maintenance, and other voyage-related expenses. This model ensures a simplified process for clients, minimizing their administrative burden while benefiting from ORKIM Berhad’s operational efficiency and reliability.
Ideal for one-time or urgent cargo transport needs with no long-term commitment.
Utilizes available vessels efficiently without prior allocation.
ORKIM Berhad handles all operational, crew, bunker, and port-related costs.
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