KNOT SHUTTLE TANKERS 30 ANNOUNCE LONG TERM CHARTER FOR ONE NEW DP2
SHUTTLE TANKER NEWBUILDING
Haugesund, Norway 15th of January 2015
KNOT Shuttle Tankers 30 AS (“KNOT 30”) a special purpose company
ultimately controlled by the shareholders of Knutsen NYK Offshore
Tankers (“KNOT”) today announced an agreement for a long-term time
charter to an international oil company of a new DP2 suezmax shuttle
tanker for delivery in the first quarter of 2017. The vessel has been
ordered at Cosco Zhoushan in China and will be a sister vessel of MT
Raquel Knutsen which will be delivered from the same yard shortly. Once
in operation, the shuttle tanker will operate in Brazil where it will
transport crude oil from offshore oil fields to terminal onshore.
KNOT which is the Sponsor of the NYSE listed Master Limited
Partnership KNOT Offshore Partners (“KNOP”), will offer the shuttle
tanker to KNOP under the terms of the Omnibus Agreement between KNOT and
KNOP which stipulates that all shuttle tankers with a charter of five
year or longer shall be offered by KNOT to KNOP following the
charterer’s acceptance of the vessel subsequent to delivery from yard.
“We are pleased that we are off to a good start in 2015 with the
further growth of our business. In 2014, KNOT significantly expanded its
operated fleet by the acquisition of three shuttle tanker from J.
Lauritzen and one from Mowinckel in addition in addition to placing an
order for two newbuildings and two optional vessels against long-term
charters. Shuttle tankers are a flexible, capital efficient and
economically sound transport solution so we are optimistic that we will
see further growth going forward. We currently operate 26 shuttle
tankers and have four newbuildings under construction. Thirty years
after we got our two first shuttle tanker contracts, we now operate
thirty shuttle tankers which have a total deadweight capacity of more
than 3.5m. In my view, this gives us a competitive scale in the market
place.“
Mr. Trygve Seglem,
President and CEO of KNOT
ABOUT KNUTSEN NYK OFFSHORE TANKERS
Knutsen NYK Offshore Tankers is a leading shuttle tanker operator in
the world with 26 shuttle tankers and one FSO in operation in addition
to four newbuildings under construction. The Company is a joint venture
by TS Shipping Invest and NYK Group. TS Shipping Invest is owned by CEO
Trygve Seglem and his family. The Company is headquartered in Haugesund,
Norway.
KNOP (NYSE:KNOP) owns, operates and acquires shuttle tankers
under long-term charters in the offshore oil production regions of the
North Sea and Brazil. KNOP is structured as a master limited
partnership. KNOP’s common units trade on the New York Stock Exchange
under the symbol “KNOP.”
The statements in this press release that are not historical facts may
be forward-looking statements. These forward-looking statements are
based upon the current beliefs and expectations of KNOP’s management and
are subject to risks and uncertainties, which could cause actual results
to differ from the forward-looking statements. Factors that can affect
future results are discussed in the Annual Report on Form 20-F filed by
KNOP with SEC. The information set forth herein should be read in light
of such risks. KNOP does not assume any obligation to update the
information contained in this press release.
Source: Knot Offshore Partners LP
Copyright Business Wire 2015