ORKIM Bhd said that its wholly owned subsidiary, Orkim Marine Sdn Bhd (OMSB), has received a letter of award for a contract of affreightment (COA) from Boustead Petroleum Marketing Sdn Bhd (BHPetrol).

Under the COA, OMSB will provide marine transportation services for an estimated 200,000 metric tonnes per year, allowing for a variation of 20 percent, from January 1, 2026 to December 31, 2027, with an option to extend for an additional year.

The contract value is based on cargo nominations and schedule of rates, with no fixed sum.

The board expects the COA to contribute positively to Orkim’s earnings and net assets. — TMR

For more details, visit the full article here.