Knutsen NYK Offshore Tankers (KNOT), a joint venture betwenn NYK and Knutsen, has sealed a time-charter contract with Total for a suezmax shuttle tanker.
The contract is for a maximum 15-year period starting from 2021.
The 152,000 dwt vessel, built by Cosco Zhoushan, will be deployed to shuttle crude oil produced off Brazil.
KNOT ordered two shuttle tankers with options for another two at Cosco Shipping Heavy Industry last year. The vessels are scheduled for delivery in the middle of 2021.
“In accordance with its medium-term management plan Staying Ahead 2022 with Digitalization and Green, the NYK Group will continue its efforts to provide stable and economical energy-transport services in the shuttle tanker and offshore businesses,” NYK said in a release.
The KNOT Group has a share of about 40% of the world shuttle tanker market, with 32 shuttle tankers in operation or on order.