KNOT Offshore Partners LP

KNOT Offshore Partners LP (NYSE: KNOP) is a publicly traded master limited partnership formed to own and operate shuttle tankers — specialized vessels that load crude oil from offshore production units and transport it to onshore terminals or refineries. The partnership was sponsored by KNOT, the Knutsen NYK Offshore Tankers joint venture between Norway's Knutsen Group and Japan's NYK, and it was established in 2013 when it took over an initial fleet of shuttle tankers from its sponsor and listed its common units on the New York Stock Exchange. The partnership's business model is built on long-term, fixed-rate time charters with oil majors and national oil companies. Its vessels are largely deployed in Brazil, the North Sea and the Norwegian Continental Shelf, and other offshore producing regions, where shuttle tankers are essential because subsea and floating production systems have no pipeline connection to shore. Because charters are typically multi-year, revenue is comparatively stable, though the partnership remains exposed to offshore production activity, charter renewals, vessel residual values and the cost of capital. KNOT Offshore Partners grows primarily through acquisitions of vessels from its sponsor, KNOT, which retains a large ownership stake and provides commercial and technical management services. The partnership has periodically raised equity and debt to fund fleet expansion, and it has also sold older vessels as part of fleet renewal. Its units are widely held by income-oriented investors, and the partnership has historically paid quarterly distributions, although the distribution level has been adjusted over time in response to market conditions. As a shipping partnership, KNOT Offshore Partners sits at the intersection of energy logistics and maritime transport. Its fortunes are tied to the offshore oil industry, particularly deepwater production in Brazil and the North Sea, and to the willingness of oil companies to contract specialized tonnage on long-term terms. The partnership is managed by KNOT Offshore Partners GP LLC, an affiliate of its sponsor, and its executive team is drawn largely from the Knutsen and NYK shipping organizations.

KNOT Offshore Partners LP was formed in 2013 by KNOT, the Knutsen NYK Offshore Tankers joint venture owned by Norway's Knutsen Group and Japan's NYK. The partnership was created as a growth vehicle for KNOT's shuttle tanker business, allowing the sponsor to monetize and expand a fleet of specialized vessels while retaining operational control through the general partner. At formation, the partnership acquired an initial fleet of shuttle tankers from its sponsor and listed its common units on the New York Stock Exchange under the ticker KNOP. Shuttle tankers are purpose-built to load crude oil from offshore production units — floating production, storage and offloading (FPSO) vessels and subsea fields — and deliver it to shore, a service that is particularly important in Brazil's deepwater pre-salt fields and in the North Sea, where pipeline infrastructure is limited. Over the following years, the partnership expanded through drop-down acquisitions of additional vessels from KNOT, funded with a combination of equity offerings, debt facilities and cash flow from operations. This sponsor-drop-down model is central to the partnership's strategy: KNOT builds or orders vessels and later sells them to the partnership under long-term charters, giving the partnership visible cash flow and giving the sponsor a source of capital. The partnership's fleet has been concentrated in long-term charters with major oil companies and national oil companies, with Brazil and the North Sea representing the largest deployment regions. Because shuttle tanker demand is tied to offshore production, the partnership's results have been sensitive to oil price cycles, offshore project sanctioning and charter renewal terms. Like many shipping partnerships, KNOT Offshore Partners has faced periods of challenging market conditions, including weaker spot rates and pressure on distribution levels. The partnership has adjusted its distribution and capital allocation over time, sold older tonnage and refinanced debt to maintain financial flexibility. It remains a listed, sponsor-backed entity managed by an affiliate of KNOT, with its executive and commercial functions supported by the Knutsen and NYK organizations.

• 2013

  KNOT Offshore Partners LP is formed by KNOT and lists its common units on the New York Stock Exchange under the ticker KNOP.

• 2013

  The partnership acquires its initial shuttle tanker fleet from sponsor KNOT.

A yield-oriented, sponsor-backed shipping partnership providing specialized offshore crude logistics under long-term charters.

• Shuttle tankers

  Specialized vessels that load crude oil from offshore production units and transport it to onshore terminals.

• Long-term time charters

  Multi-year fixed-rate charters with oil majors and national oil companies.

• 2026-08-26

  KNOT Offshore Partners to acquire Hedda Knutsen owner Knutsen Canadian Chartering[2]KNOT Offshore Partners 拟收购 Hedda Knutsen 所属公司 Knutsen Canadian Charteringfinanznachrichten.de

  Reported: 2026-08-26

  KNOT Offshore Partners LP announced that its wholly owned subsidiary KNOT Shuttle Tankers AS agreed to acquire Knutsen Canadian Chartering AS, owner of the shuttle tanker Hedda Knutsen, from Knutsen NYK Offshore Tankers AS for a purchase price of $113.0 million less $89.4 million of outstanding indebtedness, implying an initial cost of approximately $24.4 million.

• 2026-08-25

  KNOT Offshore Partners completes $225 million senior secured credit facility refinancing[2]KNOT Offshore Partners 拟收购 Hedda Knutsen 所属公司 Knutsen Canadian Charteringfinanznachrichten.de

  Reported: 2026-08-26

  KNOT Offshore Partners LP's subsidiaries owning the Tordis Knutsen, Vigdis Knutsen (renamed Ametista Brazil), Lena Knutsen, Anna Knutsen and Brasil Knutsen entered into a new $225 million senior secured credit facility with DNB Bank ASA as Agent to refinance existing term loans of $225.8 million; closing took place on August 25, 2026.

• 2020-12-15

  KNOT Offshore Partners announces acquisition of Tove Knutsen[3]KNOT Offshore Partners宣布收购Tove Knutsenfinanznachrichten.de

  Reported: 2020-12-15

  KNOT Offshore Partners announced that its wholly owned subsidiary agreed to acquire KNOT Shuttle Tankers 34 AS, which owns the shuttle tanker Tove Knutsen. The acquisition was expected to close by December 31, 2020, subject to customary closing conditions.

1. 1KNOT Offshore Partners LP official websiteknotoffshorepartners.com
2. 2KNOT Offshore Partners 拟收购 Hedda Knutsen 所属公司 Knutsen Canadian Charteringfinanznachrichten.de
3. 3KNOT Offshore Partners宣布收购Tove Knutsenfinanznachrichten.de