ORKIM Bhd said that its wholly-owned subsidiary, Orkim Marine Sdn Bhd, has secured a renewal of its contract of affreightment (COA) with Petron Malaysia Refining & Marketing Bhd for the transportation of clean petroleum products (CPP) within the Malaysia–Singapore route.
The renewed agreement extends services for two years starting June 1 2026, with an option for a further one-year extension.
Under the COA structure, Petron Malaysia will nominate cargo shipments based on operational requirements, with pricing governed by an agreed schedule of rates….