KOTC studying business ventures in bid to develop its fleet

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KUWAIT CITY, April 9: Kuwait Oil Tanker Company (KOTC) is currently studying opportunities for partnerships or business ventures to develop its fleet, reports Al-Anba daily quoting sources. Sources disclosed KOTC has invited four global firms to bid for the provision of consultancy services for the abovementioned project. Sources said the company selected two of these firms to provide consultancy services after the negotiations.

Sources revealed AT Kearney FZLLC initially submitted a bid of $1.145 million, which decreased to $895,000 after the second negotiation. Boston Group submitted a bid of $1.3 million without any reduction in the first and second negotiations; Middle East Strategist submitted a bid of $565,000 but it did not meet the technical conditions; while Drewry Shipping did not submit its offer.

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