KNOT Finds Work for Newbuild

Knutsen NYK Offshore Tankers (KNOT) has through a subsidiary signed a deal for a long-term time charter to an international oil company of a new DP2 suezmax shuttle tanker.

The vessel, expected for delivery in the first quarter of 2017, has been ordered at Cosco Zhoushan in China and will be a sister vessel of MT Raquel Knutsen, which should 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.

“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 to placing an order for two newbuildings and two optional vessels against long-term charters,” Trygve Seglem, President and CEO of KNOT said.

The company operates 26 shuttle tankers and has 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,“ he added.