VOL. XXXVII

NO. 51

19-SEPTEMBER-1994

KUWAIT

KOTC Plans To Purchase Three New VLCCs

The Kuwait Oil Tanker Company (KOTC) has been given the green light by itsparent company, the state-owned Kuwait Petroleum Corporation (KPC) to placeorders for the building of three new supertankers of 280,000 dwt at an estimated cost of some $60mn each. KOTC will shortly begin the preparation of thespecification documents for the three vessels that will be presented to foreignshipyards for bidding. Delivery of the...