KOTC Completes Fleet Renewal Phase III

Kuwait Oil Tanker Company (KOTC) has taken delivery of its fourth and last Very Large Crude Carrier (VLCC) of its Phase III Fleet Newbuilding Project. The VLCCs were built by South Korea’s Daewoo Shipbuilding and Marine Engineering (DSME).

Al Kout – classed to ClassNK is 333 m in length, 60 m in breadth, with a fully loaded draft of 22.5m, having a cargo capacity of approximately 2.2 million barrels and a cruising speed of 16.2 knots. The vessel was delivered earlier than contracted, since the delivery was set for December 2014.

KOTC embarked on implementing its long-term strategic plan in renewing and modernizing its fleet back in 2000/2001, adopted in several building phases that were carried out based on the plan to increase Kuwait’s oil production and in line with KPC’s strategic marketing requirements for the 2030 plan.

Over the past 10 years and since 2004, KOTC has managed to complete three newbuilding project phases, resulting in the construction of 24 modernized different type and sized vessels and 3 service boats.

Currently KOTC has commenced Phase IV of the fleet renewal program by pre-qualifying shipyards to construct two Very Large Gas Carriers, expected to float tenders before the end of the current year in line with KOTC’s plan and KPC strategic plan.

Press Release