KNOT ties up additional shuttle tanker newbuild with BG Group

KNOT ties up additional shuttle tanker newbuild with BG Group

Oslo: Knutsen NYK Offshore Tankers has received a notice that BG Group has exercised an option for an additional Suezmax DP2 shuttle tanker newbuilding for operations in Brazil.

In September last year, KNOT and BG Group agreed a contract for two of the newbuild tankers, with two further options available to BG within a one year period. With the first option now exercised, BG has a remaining option for one additional shuttle tanker.

The new vessel will be built at Hyundai Heavy Industries and is expected to be in delivered mid-2017.

Upon deliver the tanker will commence a minimum five-year time charter with BG at fair market value, with options available for up to 20 years.

Grant Rowles

Grant spent nine years at Informa Group based in London, Sydney, Hong Kong and Singapore. He gained strong management experience in publishing, conferences and awards schemes in the shipping and legal areas, working on a number of titles including Lloyd's List. In 2009 Grant joined Seatrade responsible for the commercial development of Seatrade’s Asia products. In 2012, with Sam Chambers, he co-founded Asia Shipping Media.

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