Kuwait Oil Tanker Company (KOTC) has continued its newbuilding push with a deal for four new MR tankers at Hyundai Mipo in Korea.
The Middle East owner said the 48,000-dwt vessels are costing $41.9m each, or $167.6m en bloc.
The contract was signed by KOTC CEO Sheikh Talal Al Khaled Al Ahmad Al Sabah and Mipo director Sam Ka.
KOTC said the deal constituted the final stage in its fourth phase of fleet modernisation.
