Vol. XL

No. 1



KOTC Signs Contract With Hyundai For Two New ULCCs

The Kuwait Oil Tanker Company (KOTC) - the oiltransportation subsidiary of the state-owned Kuwait Petroleum Corporation (KPC) - hassigned a contract with South Korea's Hyundai Heavy Industries Company, worth over $160mn,for the construction of two new ULCC oil tankers each with a capacity of 309,000 dwt.According to statement by Mr. 'Abd Allah al-Rumi, Chairman of KOTC, the cost of the twonew buildings will be...