Kuwait Oil Tanker Company (KOTC) finalized establishing a nine-vessel new building program, where it worked with several suppliers in order to execute new systems to promote a more fuel-efficient fleet that is clean and safe, reported Arabian Supply Chain.
KOTC is a subsidiary of Kuwait Petroleum Corporation (KPC) committed to ensure safe and efficient transportation for Kuwait’s leading export (petroleum). This is a part of KPC’s strategic vision.
KOTC announced the latest phase of the rehabilitation of their fleet which include up to eight new ships divided into two or three VLGCs, four MR product tankers and one aframax tanker, informed Splash24/7.
KOTC’s Deputy CEO, Ali A.Shehab, stated that “rather than wait for new regulations or react to changes in bunker prices, we actively seek new ways to improve our overall performance.” He added: “As a state-owned entity, KOTC not only has an obligation to provide KPC with excellent and cost-effective transportation services, we also represent the State of Kuwait, which has very specific policies on how we behave as a company.”