Kuwait Oil Tanker Company (KOTC), a unit of Kuwait’s oil refiner, is considering plans to raise more than KWD1bn (USD3.3bn) in debt this year as it expands its fleet, according to two people familiar with the matter. The company, which buys and manages tankers used for oil transportation, is in talks with banks for both bond sale or loan, according to sources. KOTC may decide against a debt sale if market conditions aren’t favorable, sources added. KOTC, which currently has 30 vessels, plans to buy eight new ships by 2020, according to the company’s Deputy CEO Ali Shehab Ahmad. (Bloomberg)