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Kuwait Oil Tankers orders four new VLCCs worth $79.7 million

KOTC
Shipping   An entirely new class of vessel

Kuwait Oil Tankers Company (KOTC) has signed a contract worth a reported $79.7 million to have a new VLCC class oil tanker built as part of its ongoing fleet development programme.


The US $79.7-million order was awarded to China’s Bohai Shipbuilding Heavy Industry Co. (BSHIC) after approval by the Higher Purchasing Committee of Kuwait Petroleum Corporation (KPC) and its subsidiaries, as well as the Central Agency for Public Tenders (CAPT).

The Kuwaiti shipping line has ordered four vessels initially for the new class of tanker. Work on the first of these 318,000 dwt vessels will begin during the first quarter of 2019, and delivery is expected by the last quarter of 2020, according to KOTC.

The specification of the vessel is designed to ensure that KOTC is in a position to meet the global operational standards required of the crude oil tanker industry, as well as international regulatory requirements governing the protection of the environment and the curbing of pollution and emissions.


 

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