Kuwait to receive oil tanker from S. Korean Daewoo
Sunday, 12 February 2012 | 00:00
Kuwait was set to receive on Friday a South Korean oil tanker that can carry 800,000 barrels of oil.
The USD-72-million oil tanker "Bahra", the first of two tankers, has been designed by South Korea's Daewoo Shipbuilding and Marine Engineering company (DSME), Chairman and Managing Director of the state-run Kuwait Oil Tanker Company (KOTC), Nabil Bouresly, told KUNA here Thursday.
Once the vessel turns up, the KOTC will have acquired 24 multi-size and multipurpose oil tankers, and will have completed the second stage of its fleet modernization, he said. The other oil tanker also costs USD 144 million, Boursely pointed out.
DSME-built oil tankers have been designed to fulfill international navigation laws and safety and security regulations, he added.
KOTC, a subsidiary of Kuwait Petroleum Corporation (KPC), was founded in April 1957, by a group of Kuwaiti pioneer investors.
The company is mainly involved in the ownership and management of tankers engaged in the transport of crude oil, refined petroleum products and liquefied petroleum gases (LPG). In addition, it also operates a Marine Agency Branch, acting as sole agent of all tankers calling at Kuwait's sea port and a Gas Branch for the filling and distribution of LPG cylinders for local industry and domestic consumption.
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