Four submit bids for Kuwait crude tanker deal

09 March 2011

Only South Korean firms bid for ship building contract

State-owned Kuwait Oil Tanker Company (KOTC) has received bids from four firms for three contracts to design, build and deliver nine new crude oil tankers of various sizes.

Four South Korean firms submitted bids on 22 February, according to a source close to the scheme. The prices were not revealed.

The bidders are:

  • Daewoo Shipbuilding & Marine Engineering Company Limited
  • Hyundai Heavy Industries
  • Hyundai Mipo Dock Yard Company
  • Samsung Heavy Industries

Three prequalified firms, Sasebo Heavy Industries from South Korea and two Japanese firms, Kawasaki Shipbuilding Corporation and Mitsubishi Heavy Industries, declined to bid.

KOTC tendered three ship building deals at the end of January as it seeks to expand its crude carrying fleet to 34 vessels by 2020, from 21 currently. The company also has 12 tankers of various sizes for transporting oil derivatives, as well as four tankers for transporting gas (MEED 28:1:11) .

 The first deal covers four new medium-range tankers of 25,000-45,000 deadweight tonnes (dwt). The second deal will see four new very large crude carriers (VLCCs) built, capable of carrying 160,000-320,000 dwt. The final tender is for the construction of an Aframax crude oil tanker, which can carry a maximum of 120,000 dwt, equivalent to 825,000 barrels of crude.

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