KOTC to buy three gas tankers from HHI in major fleet overhaul

Kuwait Oil Tanker Company (KOTC) has signed a deal with South Korean shipyard Hyundai Heavy Industries for the construction of three immense gas tankers, as part of a major KOTC fleet overhaul.
The contract is worth US $213.360 million and entails the construction of three liquefied gas tankers at a cost of US $71.12 million per tanker.
The contract is worth US $213.360 million and entails the construction of three liquefied gas tankers at a cost of US $71.12 million per tanker.

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Kuwait Oil Tanker Company (KOTC) has signed a deal with South Korean shipyard Hyundai Heavy Industries for the construction of three immense gas tankers, as part of a major KOTC fleet overhaul.

The contract is worth US $213.360 million and entails the construction of three liquefied gas tankers at a cost of US $71.12 million per tanker, the marine transport company said in a statement.

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The statement touted the "world-class quality" project that seeks to beef up KOTC's fleet of liquefied gas tankers as environment friendly, noting that it fully adheres to established maritime safety standards.

The company revealed that the first out of three gas tankers would be fully built by the end of 2019, upping the company's diverse arsenal of gas tankers to 31, adding that similar innovative projects are on tap.

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