VOL. XXXVI

NO. 52

27-SEPTEMBER-1993

KUWAIT

KOTC's Net Profit Down To $16.6Mn In Fiscal 1992-93

The Kuwait Oil Tankers Company (KOTC) registered a net profit of KD5mn($16.56mn) in fiscal 1992-93, down 44% from KD11.17mn ($37mn) in 1989-90,according to a press statement on 19 September by the company's Chairman andManaging Director, Mr. 'Abd Allah al-Rumi. Mr. Rumi attributed the company'sreduced profit to the poor freight market conditions. The company's financialstatements for 1990-91 and 1991-92...