VOL. XLIII

No. 39

25-September-2000

KUWAIT

KOTCs Profits Fall By 58% In Fiscal 1998-99

In a statement to the press on 19 September, the Chairman and Managing Director of the Kuwait Oil Tankers Company (KOTC), 'Abd Allah al-Rumi, disclosed that the companys profits in fiscal 1998-99 fell by more than 58% to KD11.36mn ($37.48mn) from KD26.17 ($86.36mn) in the previous year. KOTC, a wholly-owned subsidiary of the Kuwait Petroleum Corporation (KPC), currently has a fleet of 32 vessels comprising six...