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Friday, December 14, 2018

KOTC Orders Three LPG Tankers from Hyundai

Maritime Activity Reports, Inc.

November 25, 2018

Pic: Kuwait Oil Tanker Co. (KOTC)

Pic: Kuwait Oil Tanker Co. (KOTC)

Kuwait Oil Tanker Co. (KOTC), a subsidiary of Kuwait Petroleum Corporation, has ordered three giant liquefied petroleum gas tankers (LPG) from Hyundai Heavy Industries (HHI), the South Korean shipbuilding giant.

According to the government's media outlet Kuwait New Agency (KUNA), the order for very large gas carrier (VLGC) is worth KD 64.8 million (around USD 213.3 million).

KUNA quoted CEO of KOTC Sheikh Talal Al-Khaled Al-Sabah as saying that the VLGC-LPG gas tankers are part of a tanker-building contract signed with HHI, which includes the building and delivery of three giant gas carriers.

Each tanker can carry around 84,000 cubic meters, he said, adding that the tankers would be built in line with up-to-date world safety and environment specifications and standards.

Sheikh Talal confirmed that Hyundai's commitment to schedules enshrined in the contract, expecting that Kuwait would take delivery of the first gas carrier by the end of 2019.

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