Kuwait Oil Tanker Company (KOTC) has placed its long awaited order for a VLCC newbuilding opting for China over South Korea.
The tanker owner has gone to China’s Bohai Shipbuilding Heavy Industry Co for the 318,000-dwt vessel, which is costing $79.7m.
Delivery of the vessel from the China Shipbuilding Industry Corporation (CSIC) shipyard is expected to take place towards the end of 2020.
