Kuwait: Parent Kuwait Petroleum Company has approved the plan by KOTC (Kuwait Oil Tanker Company) to order four 300,000dwt VLCCs for an expected cost of around $500 million, KOTC chairman Abdullah Al Rumi has said. A tender is expected to be issued shortly for the the vessels which will replace older tonnage in the company's 24-strong fleet. KOTC has seven other newbuildings on order - two VLCCs, three product tankers and two lpg carriers, all booked at Korean yards in 2004 for a combined cost of $540 million. [03/10/06]
Copyright © 2024. All rights reserved. Seatrade, a trading name of Informa Markets (UK) Limited.
Add Seatrade Maritime News to your Google News feed.
