Kuwait Oil Tanker Company (KOTC) announced that it signed a contract with Hyundai Heavy Industries (HHI), to build three very large gas carriers (VLGC), in order to expand its fleet.
The contract is of total $213.3 million worth. According to the deal, three liquefied gas tankers will be constructed, with KOTC paying $71 million for each ship.
Through this agreement, KOTC wants to improve its fleet of liquefied gas tankers, in order for them to be environmentally friendly, while also complying to all marine safety standards.
The first of the three tankers will have been built until the end of 2019, increasing the number of the company’s gas tankers to 31.
