Gulf Oil and Gas accountACCOUNT

Kuwait in $556M Deal with Daewoo for 5 New Tankers

Source: Reuters 1/30/2012, Location: Middle East

Share |
Kuwait Oil Tanker Co (KOTC) has signed a $556 million contract with South Korea's Daewoo Shipbuilding & Marine Engineering to build five new tankers, the state news agency KUNA reported on Monday.

The four double-hull very large crude carriers (VLCC) will be able to carry 2.2 million barrels of crude each while the fifth vessel is for oil products with a capacity of 800,000 barrels, it said.

Kuwait will take delivery of the tankers in early 2014.

Daewoo Shipbuilding, the world's No. 2 shipbuilder, is aiming for around $11 billion in new orders this year, the same as it initially forecast for 2011, despite a credit crunch that has seen orders cancelled.

Tankers News in Kuwait >>

Saudi Arabia >>  9/26/2016 - In Saudi Arabia, despite increasing transportation fuel requirements, total product consumption declined in July for the fourth consecutive month. Oil...
Saudi Arabia >>  9/22/2016 - Saipem has been awarded new contracts and extensions to existing contracts in the onshore drilling segment in the Middle East and South America. The a...

Saudi Arabia >>  9/21/2016 - In Saudi Arabia, the non-oil private sector continued its growth momentum in August, with the Emirates NBD Saudi Arabia PMI survey revealing notable i...
Saudi Arabia >>  9/15/2016 - In Saudi Arabia, despite increasing transportation fuel requirements, total product consumption declined in July for the fourth consecutive month. Oil...

Oman >>  9/5/2016 - Rex International Holding Limited, and together with its subsidiaries, is ramping up activities in Oman and will be focusing on several initiatives to...
Qatar >>  9/5/2016 - Centrica plc has entered into a new five-year supply agreement with Qatargas for the purchase of up to 2 million tonnes per annum of Liquefied Natural...

Related Categories: General  LNG Carriers  LNG Terminal  Natural Gas Storage  Oil and Gas Pipeline  Oil Storage  Railways  Tank Truck  Tankers 

Related Articles: General  LNG Carriers  LNG Terminal  Natural Gas Storage  Oil and Gas Pipeline  Oil Storage  Railways  Tank Truck  Tankers 


Kuwait Oil & Gas 1 >>  2 | 3 | 4 |

More News

 

Oil & Gas Companies in Kuwait >>


Related Links

AE BH IL IQ JO KW LB OM QA SA SY YE
Gulf Oil and Gas
Copyright Universal Solutions All rights reserved. - Privacy Policy.