KNOT Offshore Partners has announced that Eni Trading and Shipping has exercised two of its one-year options to extend the time charter of 2013-built aframax shuttle tanker Torill Knutsen until November 2022.
Additionally, the partnership has granted Eni a further option to extend the time charter by one additional one-year period.
“This early declaration and agreement with Eni further strengthens the partnership’s contracted revenue streams and validates our belief that our vessels remain an essential part of our customers’ supply chains, even in these volatile times. While other vessel charters will naturally come up for renewal in the coming years, we believe that our strategy, our industry-leading position and forecast demand and supply for shuttle tankers leave us very well-placed, as demonstrated by this announcement today,” said Gary Chapman, CEO of KNOT Offshore Partners.
KNOT Offshore Partners owns, operates and acquires shuttle tankers under long-term charters in the offshore oil production regions of the North Sea and Brazil.