What Orkim does

Orkim Berhad is a Malaysia-based, publicly listed owner-operator of marine transportation services for clean petroleum products (CPP) and liquefied petroleum gas (LPG), incorporated in 2007 and listed on the Main Market of Bursa Malaysia Securities Berhad on 9 December 2025 under the ticker ORKIM. The Group operates a fleet of 18 vessels with a combined capacity of 239,186 DWT, comprising 14 coastal CPP tankers, 2 MR-class CPP tankers, and 2 pressurised LPG tankers, with an average fleet age of approximately 12 years. Vessels are equipped with digital navigation systems, IMO Tier 3 compliant engines, inert gas systems, ballast water management, and other environmental and safety features aligned with IMO 2020 standards. Operations span domestic Malaysian coastal routes serving ports inaccessible to larger MR vessels and regional routes to Singapore, China, and South Korea.

The business model is built around four vessel chartering structures — Time Charter (1–5 years, fixed Daily Charter Rate billed monthly in advance), Contract of Affreightment (COA, 1–2 years), Customs Voyage Contract (CVC, 1–3 years), and Spot Charter — supplemented by a shipbroking service that intermediates third-party vessels on a fixed brokerage fee basis. Pricing is contractually negotiated and not publicly disclosed. The Group reported FY2025 revenue of RM 309.9 million and Adjusted EBITDA of RM 165.3 million, with 621 voyages completed and a 92% fleet utilisation rate, and recorded zero oil spills.

The customer base is concentrated in the Malaysian downstream energy sector, with named enterprise clients including PETRONAS, NGL, Petron, and BHPetrol. The Group is headquartered in Petaling Jaya, Selangor, and is anchored by government-linked investment company Permodalan Nasional Bhd (PNB) following the December 2025 IPO, in which former backer Ekuiti Nasional Bhd (Ekuinas) fully divested. Capital raised from the IPO and the subsequent March 2026 acquisition of the Rich Sunda IMO Type II tanker (US$24.2 million) are being directed toward fleet expansion and the addition of chemical/IMO Type II transport capability, with two further newbuild vessels scheduled for delivery by 2027.

Name

Orkim

Legal name

Orkim Berhad

Website

https://orkim.com.my

Company type

Public

Founded year

2007

Operating status

Operating

Headcount range

51–100 employees

Short description

Orkim Berhad is Malaysia's largest clean petroleum product tanker operator, owning 18 vessels (239,186 DWT) that transport refined petroleum and LPG under charter contracts for energy clients including PETRONAS, Petron, NGL, and BHPetrol across domestic and regional Asian routes.

Ownership category

akta.pro rank

Product category

Marine Transportation / Tanker Shipping Services

NAICS

Support Activities for Water Transportation (4883)

SIC

Oil & Gas Field Services, Nec (1389)

akta.pro primary industry

Product Tanker Shipping (Clean/Dirty) (EUALADAH)

akta.pro secondary industries

Crude Oil & Petroleum Products Tanker Transport (TLADALAA), LPG Carrier Operators (TLADABAG), Tanker Vehicles (Fuel/Chemical/Food-Grade) Leasing & Rental (TLABAEAB)

Keywords

• Marine transportation
• Tanker shipping
• Vessel chartering
• Shipbroking services
• Petroleum logistics

Headquarters

HQ city

Selangor

HQ country

Malaysia

HQ region

Asia

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Operations, Personnel, Infrastructure, Supply Chain, Marketing or Sales, Technology or R&D

Revenue model

1. Time Charter: Customers charter fully-manned vessels for exclusive use during a specified contract period (1-5 years). The Group charges an agreed fixed Daily Charter Rate (DCR) during the charter period. ORKIM bears vessel-related costs (surveys, licenses, insurance, maintenance, crew) while charterer bears variable operational costs (bunker, port charges).
2. CVC (Contract of Affreightment per Voyage): Customers charter fully-manned vessels for a fixed number of journeys over a contracted period (1-3 years). Group charges an agreed freight rate for each voyage, invoiced upon completion. Freight rates subject to monthly bunker adjustment. Charterer bears cargo-related costs and demurrage fees if laytime exceeded.
3. COA (Contract of Affreightment): Customers charter fully-manned vessels to transport specified cargo amounts over contract period (1-2 years). Group charges freight rate per voyage with monthly bunker adjustment. Vessels can be rotated or used for spot charter when available.
4. Spot Charter: Single voyage charter without long-term commitment. Ideal for ad-hoc or urgent cargo transportation. Rates based on prevailing market freight rates. ORKIM handles all vessel operations, crew, bunker, port charges, insurance, and maintenance.
5. Shipbroking Services: Professional ship broking services serving as intermediary for chartering third-party vessels. Services provided under fixed brokerage fee model calculated as percentage of total freight cost, invoiced only upon successful cargo delivery.

Pricing tiers

Go-to-market motion1 record

Distribution channels3 records

Marketing channels3 records

Core offering

Orkim Berhad is an owner-operator of Clean Petroleum Product (CPP) and Liquefied Petroleum Gas (LPG) tankers providing marine transportation services for refined petroleum products (gasoline, diesel, jet fuel, naphtha, kerosene, condensates) and LPG (propane, butane). The company operates a fleet of 18 vessels (239,186 DWT) under multiple chartering models (Time Charter, CVC, COA, Spot Charter) and also provides shipbroking services connecting clients with third-party vessels.

Product overview

Orkim Berhad operates as an owner-operator providing integrated marine transportation services for the energy sector, comprising a fleet of 18 vessels (239,186 DWT total capacity) split between Clean Petroleum Product (CPP) tankers and Liquefied Petroleum Gas (LPG) tankers. The CPP tanker fleet (14 coastal + 2 MR tankers) transports refined petroleum products on domestic coastal routes and regional routes to Singapore. The LPG tanker fleet (2 pressurised vessels) serves routes to Singapore, China, and South Korea under time charter. The service portfolio is structured around vessel chartering (offering Time Charter, Custom Voyage Contract/CVC, Contract of Affreightment/COA, and Spot Charter options) and shipbroking services that connect clients with third-party vessels. The company primarily serves Malaysian domestic routes and regional Asian markets, with key clients including PETRONAS, NGL, Petron, and BHPetrol.

Differentiator

Problem solved

Functional benefit

Products and services

• CPP Tanker Services (Clean Petroleum Product Transportation) Marine transportation of refined petroleum products including gasoline, diesel, gas oil, jet fuel, naphtha, kerosene, and condensates between refineries, storage facilities, processing plants, and distribution points. Services operate on coastal routes within Malaysia and regional routes to Singapore using Orkim's fleet of 14 coastal CPP tankers and 2 MR CPP tankers.
• LPG Tanker Services (Liquefied Petroleum Gas Transportation) Marine transportation of liquefied petroleum gas (LPG), primarily propane and butane, using Orkim's 2 pressurised LPG tankers (6,498 DWT). Operates under time charter arrangements on regional routes serving Malaysia, Singapore, China, and South Korea.
• Time Charter Vessel chartering model in which customers lease fully-manned vessels from Orkim for exclusive use over a contract period of typically 1-5 years. The customer has full commercial management control and pays a fixed Daily Charter Rate (DCR); Orkim bears vessel and crew-related expenses. Billed monthly in advance.
• Contract of Affreightment (COA) Chartering arrangement where fully-manned Orkim vessels transport a specified cargo volume between agreed loading and discharge ports over a contract period of typically 1-2 years. Freight rates are subject to monthly bunker adjustment, and vessels are not dedicated and may be rotated for spot charter when available.
• Custom Voyage Contract (CVC) Chartering of fully-manned Orkim vessels for a fixed number of voyages over a contracted period of typically 1-3 years. The charterer pays an agreed freight rate per voyage from loading to discharge ports, with monthly bunker adjustment. Charterer bears cargo-related costs and demurrage fees if laytime is exceeded.
• Spot Charter Single-voyage charter arrangement with no long-term commitment, designed for ad-hoc or urgent cargo transportation needs. Freight rates are determined by prevailing market rates, and Orkim handles all operational, crew, bunker, and port-related costs.
• Shipbroking Services Professional intermediary service connecting clients with reliable third-party vessels for cargo transport where Orkim's own fleet is unavailable or capacity is exceeded. Operates under a transparent fixed brokerage fee model calculated as a percentage of total freight cost, invoiced only upon successful cargo delivery.

Quantifiable outcome

• Zero oil spills recorded
• +3 more outcomes

Named customers4 records

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature8 records

Partnerships

Two partnerships are on record, tiered core.

• Wealth Sail Shipping Pte LtdcoreStrategic or Co-development Partner · 30 March 2026Orkim Wisdom Sdn Bhd (subsidiary of Orkim Berhad) signed memorandum of agreement to acquire Rich Sunda IMO Type II tanker for US$24.2 million (RM97 million). Seller is primarily engaged in shipping business including ship chartering and crew leasing.
• Shipbuilding Yards (for new vessel construction)coreStrategic or Co-development Partner · 1 March 2024In March 2024, Orkim entered into 2 shipbuilding contracts to construct 2 new vessels expected to be completed by 2027 as part of fleet modernisation programme.

Scale indicators12 records

Recent moves11 records

Expansion highlights5 records

Direct peers

• BW LPG: BW LPG (Oslo Børs-listed) is the world's largest LPG/VLGC operator. Comparable to Orkim's LPG tanker division for vessel technology, pressurised containment requirements, and time-charter commercial model with major energy counterparties.
• MISC Berhad: Malaysian International Shipping Corporation Berhad (KLSE-listed) operates one of the world's largest energy shipping fleets through its AET Tankers subsidiary, covering petroleum products and LNG/LPG. As Malaysia's flagship carrier with overlapping CPP and LPG exposure on regional routes, MISC is the most directly comparable peer.
• Stena Bulk: Privately held Swedish owner of one of the world's largest product tanker fleets, with active presence in Asia. Comparable on product tanker operating model, chartering mix, and IMO 2020/Tier 3 fleet modernisation choices.
• Scorpio Tankers: NYSE-listed pure-play product tanker operator focused on MR tankers — the same vessel class as Orkim's two MR CPP units. Comparable on MR-charter economics, bunker/pass-through contract structures, and exposure to Asian refining demand.
• Hafnia Limited: Singapore-headquartered product tanker owner-operator with one of the largest MR/LR1 fleets globally. Comparable to Orkim on MR product tanker positioning, Singapore-Asia trade exposure, and pool-based time charter contracts.
• AET Tankers: AET is the world's largest petroleum products tanker operator (MISC subsidiary, Singapore-headquartered) and a benchmark for product-tanker economics. Closely comparable to Orkim on CPP product focus, MR/handysize vessel mix, and Asian refining-to-market trade flows.

Emerging players

• Stolt-Nielsen Limited: Oslo-listed specialty chemical/parcel tanker operator with deep expertise in niche, higher-margin liquid cargoes. Comparable to Orkim's planned chemicals expansion via the Rich Sunda IMO Type II acquisition.

Broad incumbents

• Mitsui O.S.K. Lines (MOL): Major Japanese shipping conglomerate with substantial LPG carrier, product tanker and LNG businesses. Comparable on the LPG side of Orkim's portfolio and on serving state-of-energy customers in Asia under long-term time charter.

Regional players

• Shin Yang Shipping Corporation Berhad: Malaysian shipping group that historically operated product/chemical tankers in domestic and regional waters. Comparable to Orkim on Malaysian coastal CPP exposure, fleet-style vessel mix, and chartering business for third-party ships.
• Berlian Laju Tanker Indonesia: Indonesia's largest listed tanker operator, focused on petroleum and chemical products with intra-Asia trading routes. Closely comparable on regional Southeast Asian CPP coverage, vessel class mix, and customer base of state-linked energy companies.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/orkim-sdn-bhd
• Instagraminstagram.com/orkimshipmanagementsdnbhd
• Facebookfacebook.com/orkimsdnbhd.page

Revenue estimate

Valuation estimate

Number of profiles

Profiles14 records

Subsidiaries1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Orkim