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FINANCIAL NEWS
Kuwait’s KOTC, Daewoo Shipbuilding ink USD556m tankers deal
31 Jan 2012
(MENAFN) Kuwait Oil Tanker Co (KOTC) inked a USD556 million tankers deal with South Korea’s Daewoo Shipbuilding & Marine Engineering, according to Kuwait’s state news agency KUNA.
The agency added that the contract would include building 5 new tankers that would be delivered in early 2014.
It also said that four of the five tankers would be double-hull very large crude carriers (VLCC) with the ability to carry 2.2 million barrels of crude each, whereas the fifth is for oil products with a capacity of 800,000 barrels.
It is worth noting that Daewoo Shipbuilding plans to ink USD11 billion deals in 2012.
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