Kuwaiti Oil Tankers Company (KOTC), a subsidiary of state-owned Kuwait Petroleum Corporation, has offered for sale two out-of-service giant crude oil tankers, according to a local media report.

The move is part of KOTC’s drive to fully modernise its fleet to include energy efficient vessels that are low on carbon emissions, the report said.

The tankers were built in late 1998 by South Korea’s Hyundai Heavy Industries and KOTC was reportedly incurring high insurance costs for the vessels.

KOTC currently operates 12 crude oil tankers, 10 of which were commissioned in or after 2007.