Kuwait to Purchase Nine Oil Tankers

As part of efforts to enlarge and modernize its tanker fleet, Kuwait plans to sign a number of contracts with giant international builders of oil tankers in the coming thirty days for building nine new tankers. In press statements on sideline of Kuwait National Petroleum Company's celebrations of the Environment Day, Chairman and Managing Director of the state-run Kuwait Oil Tankers Company, KOTC, Nabil Bouresly said that KOTC will sign on January 30 contracts with South Korea's Daewoo Shipbuilding and Marine Engineering company (DSME) for building five oil tankers.

Bouresly added that KOTC will also sign mid-February contracts with Hyundai Company for building four tankers of petroleum products. The nine tankers will be eco-friendly and equipped with state-of-the-art technology, he pointed out, adding that the construction and delivery of the tankers will be completed by end of 2014.

"By this move, KOTC realizes its strategic goal set in coordination with the Kuwait Petroleum Corporation to enhance KOTC fleet to include 33 tankers," Bouresly said. He underlined that the environment protection is on top of KOTC priorities. Bouresly also unveiled that nearly 45 percent of the butane gas cylinders project have been completed and the production will start as of mid 2014.

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