NO. 24



KOTC Signs for Construction of Two VLCCs at South Korean Yards

The Kuwait Oil Tanker Company (KOTC) has signed contracts with South Koreanshipyards for the construction of two new 280,000 dwt crude oil tankers at acost of $80mn each, KOTC Chairman 'Abd al-Fattah al-Badr tells MEES. The two VLCCs - one of which will be built by Hyundai and the other by Daewoo - arescheduled for delivery in the first quarter of 1992.

According to Mr. al-Badr, contracts will...