Tuesday, October 16, 2012

[Ship Building] Yards vie for KOTC tankers

Yards vie for KOTC tankers

Korean and Chinese shipyards are competing to win three very large gas carriers (VLGCs) from Kuwait Oil Tanker Co (KOTC).

Sources say price may not be imperative for KOTC, which is also looking to order four MR tankers by the end of the year.

Daewoo Shipbuilding & Marine Engineering and Hyundai Heavy Industries are said to be quoting VLGCs at $72m.

However, John Fredriksen’s Frontline 2012 ordered new VLGCs at the Jiangnan Shipyard in China in June for a new low of $63.5m per ship.

STX Dalian and Dalian Shipbuilding Industry are also regarded as contenders for the KOTC order.



Published : October 15, 2012


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