KNOT ties down another shuttle tanker

KNOT ties down another shuttle tanker

Oslo: KNOT Offshore Partners’s wholly owned subsidiary, KNOT Shuttle Tankers, has entered into a share purchase agreement to acquire KNOT Shuttle Tankers 21, the company that owns the shuttle tanker, Dan Sabia, from Knutsen NYK Offshore Tankers. The purchase price of the acquisition is $103m, net of $64.5m of outstanding indebtedness related to the Dan Sabia.

Dan Sabia is operating under a bareboat charter with Petrobras. The Dan Sabia charter commenced upon delivery of the vessel in the first quarter of 2012 and will terminate in the first quarter of 2024.

This is the partnership’s fifth acquisition since its initial public offering in April 2013.

Hans Thaulow

Hans Henrik Thaulow is an Oslo-based journalist who has been covering the shipping industry for the last 15 years. As well as some work for the Informa Group, Hans was the China correspondent for TradeWinds. He also contributes to Maritime CEO magazine. Hans’ shipping background extends to working as a shipbroker trainee with Simpson, Spence & Young in Hong Kong.

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