Selangor: Malaysia’s leading maritime transport company Orkim Bhd has announced that its wholly-owned subsidiary Orkim Ambition Sdn Bhd has entered into a memorandum of understanding with Hong Kong-based AllContinents International Shipping Ltd to acquire MT Rong Yao Wu Zhou for 157 million renminbi (about RM94.9 million).
The purchase will be funded entirely from the proceeds from the group’s existing Sukuk issuance programme, plus estimated start-up costs of RM4.2 million.
Delivery of the ship is expected before October 20, 2026.
This acquisition reflects Orchim’s commitment to sustainable growth while strengthening the Group’s operational capabilities.
As a new generation ship, it is expected to contribute to lower emissions intensity than older ships, supporting Orchim’s ongoing efforts to achieve more sustainable operations and meet emerging industry and regulatory standards.
Captain Cheah Sin Bee, CEO of Orkim, said that following the recent addition of Orkim Garnet, the group has 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 it provides us with greater operational flexibility, allowing us to transport cleaner petroleum products, alternative fuels, edible oils and chemical cargoes, expanding our service offering and allowing us to better capture regional business opportunities as we meet the growing 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 cargo.
The acquisition is the group’s 20th vessel, taking its total DWT to 267,024 tonnes.
