Kuwait Oil Tanker Co. Aims for 30 Ship Fleet

Kuwait Oil Tanker Company (KOTC) has put into service a new VLCC and named another as part of a strategy aimed at increasing its tankship fleet to 30 by the end of 2014, reports the Kuwait News Agency.

KOTC Chief Executive Officer Sheikh Talal Al-Khaled Al-Ahmed Al-Sabah inaugurated the enormous crude carrier, Al-Fintas, during an official ceremony held at the main compound of Daewoo Shipbuilding and Marine Engineering Company (DSME) in South Korea.

The ceremony was attended by Kuwaiti Ambassador to South Korea Jassem Al-Badawi, KOTC board members and Daewoo's senior executives.

Earlier, KOTC named their new bi-products tanker Burgan, which was constructed by Hyundai Mipo Dockyard in South Korea.

According to Kuwait News Agency these two tankships are part of the third phase of a process aimed at upgrading the company fleet. This phase also envisages five other tankers, thus the company total fleet will reach 30 tankers of various capacities and sizes by end of 2014.

Source: Kuwait News Agency