PETALING JAYA: Orkim Bhd’s wholly-owned subsidiaries, Orkim Leader Sdn Bhd and Orkim Power Sdn Bhd, have entered into side letters to extend their respective existing consecutive voyage charter (CVC) contracts with Shell Malaysia Trading Sdn Bhd and Shell Timur Sdn Bhd.

In a filing with Bursa Malaysia, it said the value of the CVC contracts is on “cargo-nominations” basis whereby “cargo-nominations” will be issued at the discretion of the charterers.

These will follow the schedule of rates as set forth in the CVC contracts, throughout the duration of the contracts.

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