KUALA LUMPUR (Jan 29): Orkim Bhd (KL:ORKIM) said the marine transportation group has secured a further one-year extension of its consecutive voyage charter contracts with Shell Malaysia Trading Sdn Bhd and Shell Timur Sdn Bhd.

The group said the value of the contracts is on a “cargo-nominations” basis whereby “cargo-nominations” will be issued at the discretion of the charterers based on the agreed schedule of rates.

The contracts were obtained though its wholly-owned subsidiaries Orkim Power Sdn Bhd and Orkim Leader Sdn Bhd, the group said in a statement on Thursday. The extended charter period for Orkim Power commences on Feb 1 while that for Orkim Leader starts on March 1.

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