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Kuwait Oil Tanker Company (KOTC)in mid-August signed contracts totalling $562 million for the supply of seven new carriers. Under an estimated $380 million deal signed on 13 August, Hyundai Heavy Industries (HHI) of South Koreawill build four new tankers. The order covers the supply of two 317,000-tonne-capacity very large crude carriers (VLCCs) and two 82,000-cubic-metre-capacity liquefied petroleum gas (LPG) carriers.