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South Korea delivers new oil tanker for Kuwait

Gulf state takes delivery of 2.2-million barrel crude oil tanker

Published: Updated:

Kuwait on Sunday took delivery of a 2.2-million barrel crude oil tanker built by South Korea’s Daewoo Engineering and Construction.

The tanker is the second of nine vessels ordered by state-owned Kuwait Oil Tanker Co (KOTC) to carry crude oil and refined petroleum products, said chairman Sheikh Talal Al-Sabah, cited by the official KUNA news agency.

The remaining vessels are expected to be delivered by the end of 2014.

The value of the new tanker was not announced, but KOTC has been undertaking a multi-billion-dollar program to modernize its fleet.

With the latest delivery, KOTC now has 24 vessels for crude oil and refined products.

KOTC, a subsidiary of national conglomerate Kuwait Petroleum Corp, is one of the largest companies in the world specializing in the transport of crude oil.