26/08/2025
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26/08/2025
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KUWAIT CITY, Aug 26: The Kuwait Oil Tanker Company (KOTC) achieved outstanding financial and operational performance last year, with net profits reaching KD16.513 million in fiscal 2024/2025. The newspaper obtained an official indicating that the company operates a fleet of 31 tankers, including 11 crude oil tankers, 15 petroleum product tankers, and five liquefied natural gas (LNG) tankers, with a total tonnage of 4.64 million metric tons. The fleet’s utilization rate reached a high of 96.2 percent.
In terms of the quantities transported, the document revealed that the company transported 25.5 million metric tons of crude oil, 5.2 million metric tons of petroleum products, and two million metric tons of LNG. Tanker exports constitute 18 percent of Kuwait’s total exports and account for 55 percent of the exports of Kuwait Petroleum Corporation (KPC) through the delivery and offloading (C&F) method. KOTC carried out dry-docking and maintenance operations for its fleet from April 2024 to March 2025.
These operations effectively contributed to improving the operational performance of tankers, raising maritime safety levels, and reducing operating costs. According to the document, these efforts also helped ensure full compliance with international regulations and standards adopted in the maritime transport sector.
The document added that the Maritime Agency Branch is responsible for serving all tankers at Kuwait’s oil ports by providing various services in exchange for fees imposed by the agency. The branch received 1,521 oil tankers in fiscal 2024/2025, including 175 Kuwaiti tankers and 1,346 non-Kuwaiti tankers.
It indicated that the branch is committed to conducting its activities in accordance with the highest safety standards based on the requests of its clients and it spares no effort in developing the standards of services it provides. The Transport and Shipping Sector manages the transportation of crude oil and its derivatives from Kuwait to global markets. Its responsibilities include fleet management, logistics services, and supply operations.
This sector is overseen by KOTC, which plays a strategic role in securing the global supply chain for Kuwaiti oil through a modern fleet that adheres to the highest standards of operational and environmental efficiency. The sector includes marine maintenance, shipping agency operations and port operations, ensuring safe and efficient transport of energy.
The Maritime Transport Sector of KPC won the Green Maritime Transport Award at the regional and international levels from the International Maritime Standards Organization (IMO), in recognition of the corporation’s efforts to protect the environment and use modern technology in its fleet.
By Najeh Bilal
Al-Seyassah/Arab Times Staff
Al-Seyassah/Arab Times Staff
