The Kuwait Oil Tanker Company has formally presented plans for the design and construction of three gas tankers and a colossal crude oil tanker to prominent international shipyards and shipbuilding companies.
The designs for the three gas tankers were submitted to major entities such as Korean Hyundai Heavy Industries Limited, Chinese Shanghai Wagaoqiao Ship Company, Japanese Mitsubishi Heavy Industries Company, and Japanese Kawasaki Heavy Industries Company.
Regarding the massive crude oil tanker, proposals for its design, construction, and delivery were extended to Korean Hyundai Heavy Industry Co., Ltd., Chinese Shanghai Wagaoqiao Ship Company, and Bohai Heavy Industry and Shipbuilding Company.
These tanker projects mark the initiation of the fourth phase of the fleet modernization initiative, which encompasses the development of a substantial crude oil tanker and four petroleum product tankers, in addition to the construction of three liquefied gas tankers.
The decision to embark on the fourth phase was prompted by a downturn in construction activities at international shipyards.
Despite the challenges, the Kuwait Oil Tanker Company remains committed to sustaining a marine fleet of optimal size and quality, aligning with long-term strategic coverage and marketing requirements.
This commitment is further tailored to meet targeted production rates within Kuwait while strategically operating and leasing surplus tankers to address global market needs on commercial grounds.
