Kuwait Petroleum Corp looking to buy more ships, exec says

Business Recorder reported from Singapore that Kuwait Petroleum Corporation (KPC) intends to expand its shipping capacity by buying more vessels. Shaikh Khaled Al-Sabah, the managing director for international marketing at the state-owned energy major, said the company already runs its own fleet and is now seeking to acquire additional ships.

Beyond the fleet, the company is also weighing pipeline routes via neighbouring states and new storage capacity to supply crude and products to its customers. These options are being examined amid the US-Iran war, the report said.

The executive did not specify how many ships KPC plans to buy or when any deal might be completed. No financial terms were mentioned in the remarks. The report carries no figures on the fleet size or the cost of any pipeline or storage project.