KOTC awards VLCC contract to DSME

Kuwait City: The Kuwait Oil Tanker Company has awarded South Korea's Daewoo Shipbuilding & Marine Engineering shipyard a $710m contract for the construction of four VLCCs, reports Yonhap. The vessels, which are due for delivery by the end of 2012, bring DSME's orderbook for this year to 59 vessels valued at $11.61bn. KOTC has placed a number of orders with DSME in the past including one for delivery of three product carriers in 2004 (pictured).  [22/08/08]