KOTC to Order Five Crude Oil Tankers from DSME (South Korea)

Daewoo Shipbuilding & Marine Engineering Co is about to receive an order for five crude-oil tankers from Kuwait Oil Tanker Co, reported Al-Anba. Kuwait Petroleum Corp approved USD 556 million to Kuwait Oil Tanker Co. for execution of these contracts.

This order for five crude-oil tankers is a part of Kuwait Oil Tanker’s modernization plan.

KOTC was founded in April 1957, by a group of Kuwaiti pioneer investors, who had a vision of how important sea borne transportation would be for the development of oil industry and how essential it becomes to exploit and discover oil in Kuwait.

DSME, established in 1973 and restructured as an independent company in October 2000 at Okpo Bay, Geoje Island, on the southeastern tip of the Korean Peninsula, has developed into the world’s premium specialized shipbuilding and offshore contractor that builds various vessels, offshore platforms, drilling rigs, floating oil production units, submarines, and destroyers. The company employs approximately 1,500 design and R&D personnel with prolific experience, and more than 15,000 skilled workers.

Major products

Commercial Vessels – Tankers, LNG & LPG carriers, container ships, roll roll-on roll-off carriers, chemical carriers, product tankers, passenger ferries, and more

Offshore plants – Fixed platforms, rigs, FPSO/FPU/FSOs for offshore oil and gas exploration & production

Specialty vessels – Submarines, destroyers, battle ships, submarine rescue vessels, AUV, and other specialty vessels

[mappress]

Shipbuilding Tribune Staff, January 5, 2012; Image: DSME