Japan to Fulfill Kuwait’s Order of 2 Tankers
Japanese shipbuilder Mitsubishi Heavy Industries said today it will continue work on two liquefied petroleum gas tankers ordered by state-owned Kuwait Oil Tanker Co. before Iraq’s invasion of the emirate.
KOTC, now based in London, has already paid about 40% of the $157-million cost of the tankers.
Mitsubishi won the contract to build the tankers in April, and it received a 20% deposit from KOTC after the contract was signed. It said it received a further 20% on Oct. 24.
The tankers were scheduled to be delivered between March and September 1993. Mitsubishi is not sure at this point where it will deliver them.
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