KOTC puts its oldest VLCCs up for sale

KOTC puts its oldest VLCCs up for sale

Kuwaiti Oil Tankers Company (KOTC) has put its two oldest VLCCs up for sale as part of its ongoing fleet renewal program.

The Al Shegaya and Al Salheia were both delivered from Hyundai Heavy Industries in South Korea 20 years ago. The pair are part of a 12-strong VLCC fleet trading for KOTC, which also owns four LPG carriers, 10 product tankers and two bunker barges.

In March this year, KOTC ordered a VLCC at China’s Bohai Shipbuilding Heavy Industry for delivery late next year.

Also this year as part of its extensive fleet rejuvenation, KOTC has ordered four MR tankers and three VLGCs.

Sam Chambers

Starting out with the Informa Group in 2000 in Hong Kong, Sam Chambers became editor of Maritime Asia magazine as well as East Asia Editor for the world’s oldest newspaper, Lloyd’s List. In 2005 he pursued a freelance career and wrote for a variety of titles including taking on the role of Asia Editor at Seatrade magazine and China correspondent for Supply Chain Asia. His work has also appeared in The Economist, The New York Times, The Sunday Times and The International Herald Tribune.

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