Al Derwazah tanker

KOTC signs $467-mln tanker financing

KUWAIT CITY, March 16, 2018 – Kuwait Oil Tanker Company (KOTC) has signed a financing deal worth KWD 140 million (USD 467 million) for the purchase of eight oil tankers.

The 10-year deal was signed with three local banks, as reported by state news agency KUNA.


The banks involved are Ahli United, Warba and Kuwait International.

KOTC currently operates a fleet of 30 vessels that transport crude oil, refined petroleum products and LPG.

In January 2018, KOTC and Hyundai Heavy Industries signed a USD 213-million deal under which the South Korean company will construct three liquefied gas tankers for the Kuwaiti firm.

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