‘Ingrid Knutsen’ Shuttle Tanker Named in South Korea

On September 25, Knutsen NYK Offshore Tankers AS, in which NYK has a 50% share, held a naming ceremony for a new shuttle tanker that is being built at Hyundai Heavy Industries in South Korea.

The ceremony was attended by KNOT president Trygve Seglem, NYK senior managing corporate officer Hitoshi Nagasawa, and NYK corporate officer Svein Steimler, among others. The 112,000 DWT shuttle tanker, which is equipped with a class II dynamic positioning system and a bow-loading system,was named Ingrid Knutsen.

Standard Marine Tønsberg AS , owned by ExxonMobil Exploration and Production Norway AS, will enter into a time-charter contract for the shuttle tanker for a maximum 15-year period from the end of 2013, the first long-term charter contract between KNOT and an ExxonMobil company. The vessel will be used to transport North Sea crude oil ashore.

A shuttle tanker, often called a “floating pipeline,” loads crude oil from floating production, storage, and offloading (FPSO) units in deepwater fields, and then transports the oil to crude-oil storage units or petroleum storage stations on land.

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September 27, 2013