Middle EastTankers

KOTC splashes for four MRs at Hyundai Mipo

Kuwait Oil Tanker Company (KOTC) has signed a contract with South Korea’s Hyundai Mipo Dockyard for four medium range product tankers at a total price of $167.6m.

The order comes days after Kuwait Petroleum Corp CEO Nizar al-Adsani said the company planned to grow its fleet to 60 vessels, doubling its current size.

Delivery of the tankers are scheduled from February 2020 through to May 2020.

KOTC has been busy adding to its fleet this year, ordering three VLGCs at Hyundai Heavy Industries for $213.36m in January and ordering a single VLCC at China’s Bohai Shipbuilding for $79.7m.

Grant Rowles

Grant spent nine years at Informa Group based in London, Sydney, Hong Kong and Singapore. He gained strong management experience in publishing, conferences and awards schemes in the shipping and legal areas, working on a number of titles including Lloyd's List. In 2009 Grant joined Seatrade responsible for the commercial development of Seatrade’s Asia products. In 2012, with Sam Chambers, he co-founded Asia Shipping Media.
Back to top button