KNOT Offshore Partners acquires shuttle tanker

KNOT Offshore Partners has announced that it has completed the acquisition of the ownership interests in the company that owns and operates the shuttle tanker Tordis Knutsen for a purchase price of $147m, less $137.5m of outstanding indebtedness plus approximately $21.1m for a receivable owed by Knutsen NYK to KNOT 24 and approximately $0.8m for certain capitalised fees related to the financing of the vessel.

The 156,559 dwt Tordis Knutsen was delivered by Hyundai Heavy Industries in November 2016. The vessel is operating in Brazil under a five-year time charter with a subsidiary of Royal Dutch Shell, which will expire in the first quarter of 2022. The charterer has options to extend the charter for two five-year periods.

In December, KNOT Offshore Partners acquired another shuttle tanker Raquel Kuntsen for $116.5m less $103.5m of outstanding indebtedness.

Including the Tordis Knutsen, the partnership now has a fleet of twelve vessels with an average age of 4.5 years and a fixed average employment of 4.9 years.

Jason Jiang

Jason is one of the most prolific writers on the diverse China shipping & logistics industry and his access to the major maritime players with business in China has proved an invaluable source of exclusives. Having been working at Asia Shipping Media since inception, Jason is the chief correspondent of Splash and associate editor of Maritime CEO magazine. Previously he had written for a host of titles including Supply Chain Asia, Cargo Facts and Air Cargo Week.
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