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FINANCIAL NEWS
Kuwait to sign contracts for nine oil tankers
28 Jan 2012
(MENAFN) Kuwait Oil Tankers Company (KOTC) said it will sign deals with oil tanker builders to purchase nine tankers, Arabian Business reported.
Chairman and managing director Nabil Bouresly said the deals will be inked over the next month as part of the company’s fleet overhaul.
Boursely said the company will sign contracts with South Korea’s Daewoo Shipbuilding and Marine Engineering Company (DSME) for five oil tankers, and will also sign contracts with Hyundai Company in February to build and deliver four more tankers.
He added that the new tankers will be eco-friendly and equipped with state-of-the-art technology. The tankers will be completed and delivered by end of 2014.
He also said that KOTC’s move realizes its strategic goal set in coordination with the Kuwait Petroleum Corporation to enhance KOTC fleet to include 33 tankers.
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