Kuwait Oil Tankers Company receives financial offers

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KUWAIT CITY - The oil sector, the Kuwait Oil Tankers Company (KOTC) has received financial offers for tenders to implement docking and maintenance of Kuwaiti oil tankers for a period of two and a half years, reports Al-Anba daily.

They explained that only two companies have so far submitted financial offers out of the four companies that had previously been qualified to enter the practice.

The Drydocks Company in Dubai submitted the lowest financial offer valued at $11.83 million, followed by the Arab Shipbuilding and Repair Yard Company (ASRY), which submitted an offer worth $12.7 million.

It is expected that the KOTC will conduct the second round of price negotiations to obtain an additional reduction.

The contract is considered the largest for the repair and maintenance of a fleet of ships belonging to Kuwait, the total of which is 32 tankers of crude oil and liquefied gas of various sizes.

The sources stated that the contract includes exclusive maintenance of Kuwait’s oil tankers, adding that it allows KOTC to maintain most of its fleet’s ships periodically in the shipyards of the winning company.

It should be noted that the companies that have been qualified are – Drydocks World Company, Dubai, the Arab Shipbuilding and Repair Yard Company (ASRY), Nakilat-Keppel Marine Works Ltd., Qatar, and Oman Drydock Company