KOTC Signs Contract for Another VLCC with South Korea's Daewoo
The Kuwait Oil Tanker Company (KOTC) - the wholly-owned subsidiary of theKuwait Petroleum Corporation (KPC) - has signed a contract with the South KoreanDaewoo Shipbuilding and Heavy Machinery Company for the construction of a280,000 dwt tanker, reportedly at a cost of $90mn. Last March KOTC signedcontracts with Daewoo and Hyundai for two VLCCs at a cost of about $80mn each (MEES,19 March). The...
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