SELANGOR: Orkim Bhd, a leading marine transportation company in Malaysia, announced that its wholly-owned subsidiary, Orkim Ambition Sdn Bhd, has entered into a memorandum of agreement with Hong Kong-based Allcontinents International Shipping Ltd to acquire MT Rong Yao Wu Zhou for Renminbi 157 million (approximately RM94.9 million).
The purchase will be fully funded by proceeds from the group’s existing sukuk issuance programme, together with estimated start-up costs of RM4.2 million.
The vessel is expected to be delivered not later than October 20, 2026.
The acquisition reflects Orkim’s commitment to sustainable growth while strengthening the group’s operational capabilities.
As a newer-generation vessel, it is expected to contribute to lower emissions intensity compared to older vessels, supporting Orkim’s ongoing efforts to operate more sustainably and meet evolving industry and regulatory standards.
Orkim CEO Captain Cheah Sin Bi said following the recent addition of Orkim Garnet, the group secured its third IMO Type II tanker, which will be named Orkim Opal.
“This acquisition is a disciplined continuation of our fleet expansion and rejuvenation strategy.
“With this young tanker, we remain at the forefront of operational efficiency, and she provides us with greater operational flexibility, allowing us to transport clean petroleum products, alternative fuels, edible oils and chemical cargoes, broadening our service offerings and allowing us to capture regional trade opportunities better as we meet the evolving needs of our customers,” he said.
A modern IMO Type II oil and chemical tanker, built in 2025, has a deadweight tonnage (DWT) of 13,988 tonnes and is capable of transporting both clean petroleum products (CPP) and chemical cargoes.
This acquisition marks the group’s 20th vessel, increasing its total DWT to 267,024 tonnes.
