VOL. XXXII

NO. 32

15-MAY-1989

KUWAIT

KOTC Purchases Two ULCCs from Danish Shipping Line

According to Lloyd's List, the Kuwait Oil Tankers Company (KOTC) - asubsidiary of the state-owned Kuwait Petroleum Corporation (KPC) - has finalizeda deal with the Danish shipping line A. P. Moller for the purchase of twoultra-large crude carriers (ULCCs). The price, reportedly amounting to about$60mn ($30mn each), is said to include the cost of expensive renovation work tobe carried out on the two tankers by...