KOTC focused on LPG and product tankers until 2020
Kuwait Oil Tanker Company said its 2020 fleet modernization plan aims for a significant increase of its gas and petroleum product vessels based on the needs of Kuwait Petroleum Corporation.
KOTC will employ eight new tankers, including three freight ships for liquefied gas, four for products and only one for crude upon the completion of the plan’s fourth stage, a KOTC official said.
The company currently employs a total 28 ships, including three for gas, four products and 12 for crude oil, two of which will be retired by 2020 after reaching their 22nd year in service, fleet new building projects group manager Jamil Al-Ali said.
Furthermore, Al-Ali revealed that the bid to build three gas tankers has been awarded to South Korean firm Hyundai Merchant Marine (HMM) while the last touches are being finalized to release a tender for one supertanker.
Separately, KOTC plans to build a third gas cylinder filling plant to meet growing local demand and is currently determining the project’s “logistically” appropriate location, an official said.
Domestic demand of gas has been increasing by three percent annually with the expansion of residential suburbs in the country, said Head of the gas filling unit at Shuaiba refinery Ahmad Al-Baddah.
He estimated the daily consumption of butane gas at 600 to 700 tonne.