{
  "id": 3438497,
  "title": "Orkim expands tanker fleet as utilisation holds at 91pct",
  "url": "https://urgent.news/2026/08/26/orkim-expands-tanker-fleet-as-utilisation-holds-at-91pct",
  "topic": "business",
  "section": "Business",
  "published": "2026-08-26T05:35:40.000Z",
  "source": {
    "name": "New Straits Times",
    "slug": "new-straits-times",
    "url": "https://www.nst.com.my/business/corporate/2026/08/1519031/orkim-expands-tanker-fleet-utilisation-holds-91pct"
  },
  "original_language": "en",
  "account": "KUALA LUMPUR: Malaysia's largest clean petroleum product tanker operator, Orkim Bhd, is expanding its fleet and improving existing vessels as utilisation remains strong at 91%. The company's CEO, Captain Cheah Sin Bi, said newbuild vessels on the way will boost capacity and strengthen Orkim's vessel portfolio, while existing customer relationships and recurring contracts provide a solid foundation for growth. Orkim maintained disciplined fleet deployment, operational efficiency, and prudent capital management. For Q2 2026, the company reported a net profit of RM22.91 million on revenue of RM87.34 million, with a gross profit margin of 32%. Fleet utilisation slightly decreased to 91% from 92% in Q1. The fleet grew to 19 vessels at year-end, including 17 CPP and chemical-capable tankers and two LPG carriers. Orkim's total carrying capacity reached 253,036 deadweight tonnes after the May delivery of the Orkim Garnet, a 2026-built IMO Type II tanker. Revenue for the first half rose 14.9% to RM175.4 million, while pre-tax profit increased 5.8% to RM47.1 million. The CPP segment drove earnings growth, while the LPG segment faced challenges due to dry-docking and currency fluctuations. No dividend was declared for the quarter, and Orkim's fleet renewal program remains a key growth driver.",
  "summary": "KUALA LUMPUR: Orkim Bhd, Malaysia’s largest clean petroleum product tanker operator, is pressing ahead with fleet expansion and renewal as steady vessel utilisation and additional capacity support earnings growth.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}