Kuwait takes delivery of new $100m tanker

Korea-built VLCC brings KOTC fleet to 22 live vessels.
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The Kuwait Oil Tanker Company has taken delivery of its latest vessel, a Very Large Crude Carrier, from South Korea’s Daewoo Shipbuilding and Marine Engineering.

The 317,300-dwt Al Yarmouk, classed to Nippon Kaiji Kyokai (ClassNK), has a cargo capacity of approximately 2.2 million barrels with a cruising speed of 16.2 knots. It is valued at just over US$100m by online valuation and tracking service VesselsValue.com.

KOTCs CEO Sheikh Talal Al Ahmed Al Sabah officially received the new state of the art vessel in Korea on Monday.

In a press statement, the KOTC said the tanker-delivery ceremony was also attended by several Daewoo high ranking officials, a delegation from KOTC, comprising of the Deputy CEO for the Fleet Operations and KOTC Managers, and Ambassador of Kuwait to the Republic of Korea Ambassador Jassem Al-Bedaiwi.

In its statement, KOTC said Al Yarmouk is the third in a series of four new VLCCs to be built at DSME, where the fourth vessel Al Kout is expected to be delivered towards the end of October 2014.

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