KOTC orders four product tankers

The Kuwait Oil Tanker Company has ordered four medium range product carriers from Hyundai Mipo Dockyard. Priced at $41.9m each, the deal is worth $167.6m.

These tankers constitute the last in the fourth stage of KOTC’s fleet modernisation. Each tanker has a 48,000-tonne capacity. The construction process is to begin in February 2019, with the first tanker expected to be delivered in February 2020, and the fourth and last tanker in May 2020.

By completing the fourth stage, the corporation would be completing its fleet modernisation and expansion project in accordance with the strategic directions of the Kuwait Petroleum Company, and would possess one of the most modern fleet for transporting oil, liquefied gas and petroleum products in the world.

For more information, visit: www.kotc.com

30th Apr 2018