NO. 22



KOTC Decides Against New Building Tanker Program in View of High ShipyardCosts

The Kuwait Oil Tanker Company (KOTC) has decided not to go ahead with aplanned program for building new crude and products tankers in view of the highcosts quoted by shipyards for such work. Last year (MEES, 24 October 1988) thecompany's board approved a plan for building two new VLCC crude oil tankers withoptions on two further VLCC vessels, and two new products carriers with...