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KOTC … New Era, Deserved Achievements


Talal Al-Khalid: We are steadily implementing our strategy to restore our global foothold

Sheikh Talal al-Khalid Al-Sabah, CEO of Kuwait Oil Tankers Company (KOTC), announced that the Company has posted an annualized profit of KD 20 million, for the fiscal year 2013-2014.

The announcement followed a KOTC board meeting today, commending the efforts of the employees and executive management of the Company, who have worked hard over the past period towards restoring the Company’s usual foothold as a reliable national carrier.

In a press release, Sheikh Talal Al-Khalid Al-Sabah, CEO of KOTC, said: “The annual profit realized by KOTC, in addition to owning one of the most advanced, world level fleets, has not been baseless. Yet, it is the result of relentless efforts and loyalty of the Company’s employees, as well as their profound sense of responsibility towards this global maritime transport edifice.”

Sheikh Talal Al-Khalid commended the fruitful cooperation with Kuwait Petroleum Corporation (KPC), leading to the announced profit. “Meanwhile, the Company has successfully boosted its foothold at the level of global maritime transport. The Company currently owns a fleet of 23 multi-size, multi-purpose oil tankers, out of which 9 giant crude oil tankers, 10 petroleum product tankers of various sizes, and 4 giant liquefied gas tankers, with a total capacity of about 26 million barrels of crude oil and petroleum products, in addition to 210,000 metric tons of liquefied petroleum gas, with a productive life of nearly 8 years. Sheikh Talal elaborated. “Moreover, according to the fleet upgrading program, the Company is due to receive 7 new tankers during the current fiscal year, bringing the total Company’s fleet up to 30 tankers.” He continued.

“KOTC has put in place a clear strategy to restore its natural foothold as a reliable arm in the area of maritime transport. The strategy is being implemented over several thrusts: the first is to upgrade the fleet to cope with global developments in maritime transport. The second thrust is to work for compensating the losses and move forward towards achieving an added value to the Kuwaiti economy. Over the past year, KOTC fleet transported nearly 126 million barrels of crude oil, petroleum products, in addition to 1 million metric tons of liquefied petroleum gas.” He added.

“The third thrust adopted by the Company is to qualify national manpower to constitute the nucleus of capable management of the Company’s fleet. National manpower accounted for 88% of the Company’s total employees. The third thrust required sending Kuwaiti high school graduates abroad in scholarships at major British universities to study engineering and marine navigation, to take over the management of the marine fleet.” He explained.

“Kuwaitis have learnt a lot from the geopolitical events and the numerous crises witnessed by the Arabian Gulf region, especially as the global transport fleet hesitated in calling at Kuwaiti ports. KOTC has performed its national role in transporting and exporting Kuwaiti oil and petroleum products to the world, while fulfilling KOTC and KPC contractual obligations to provide Kuwait’s clients with crude oil and petroleum products. This has positively reflected in the ongoing financial flows to the country, while fostering KPC’s position as a major oil exporter.” He stated.

“KOTC has provided protection for its national fleet as piracy and hijacking of commercial ships increased, especially in the Gulf of Aden, and off Somali shores, over the past years. The company equipped the tankers with the latest safety and security systems to ensure smooth tanker movement, while performing KPC’s obligations to its clients.” He stressed.

“The fourth thrust adopted by the Company addressed the two liquefied gas filling plants in Shuaiba and Umm Al-Aish, whose their strategic importance was emphasized. Construction of the new liquefied gas filling plant is under finalization at Umm Al-Aish area, with a maximum production capacity of 14 million cylinders per annum, bringing the production capacity of both plants up to nearly 25 million cylinders.” He added.

Tackling the marine agency branch, the KOTC CEO said: “In cooperation with Kuwait Municipality, it was agreed to provide an alternative to the current marine agency branch. Kuwait Municipality has allocated a land of 1,800 m2 at the commercial area of Fahaheel, opposite the current location, to construct office premises for the new marine agency. Also, a land of 40,000 m2 was allocated in Ahmadi to be used as warehouses for KOTC. Such achievement was made thanks to sincere efforts and follow-up by Mr. Nizar Al-Adsani, CEO of KPC, and following hard discussions that took long years by KOTC with Kuwait Municipality to obtain the approvals necessary for an alternative land for the marine agency. The agreement was signed in March 2014.” He continued.

Sheikh Talal Al-Khalid commended the sincere efforts of KOTC employees, and their hard work to enhance the global foothold of the Company. He expressed his profound thanks and appreciation to the Company’s board members for their valuable initiative to extend praise and appreciation to the Company’s employees, and to the executive management, who have worked over the past period toward restoring the Company’s usual position as a reliable national carrier.

Concluding his statement, Sheikh Talal Al-Khalid expressed his thanks and appreciation to HE Dr. Ali Al-Umair, Minister of Oil, State Minister for National Assembly Affairs, and Chairman of KPC, and Mr. Nizar Al-Adsani, CEO of KPC, as well the Board of Directors of KPC, for their support and appreciation of the strategic role of KPTC.



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