KNOT Offshore Partners LP Subsidiary Acquires Synnøve Knutsen Vessel Owner

July 1, 2022

KNOT Offshore Partners LP, through its wholly owned subsidiary KNOT Shuttle Tankers AS, acquired KNOT Shuttle Tankers 35 AS — the owner of the shuttle tanker Synnøve Knutsen — from sponsor Knutsen NYK Offshore Tankers AS. The acquisition (financed in part by proceeds from a Torill Knutsen sale-and-leaseback) adds a 153,000 dwt DP2 Suezmax shuttle tanker on a five-year fixed charter to Equinor, extending the Partnership’s fleet and charter coverage while improving liquidity and refinancing flexibility.

Buyers
KNOT Shuttle Tankers AS, KNOT Offshore Partners LP
Targets
KNOT Shuttle Tankers 35 AS (owner of the shuttle tanker Synnøve Knutsen)
Sellers
Knutsen NYK Offshore Tankers AS
Industry
Transportation
Location
Norway
Transaction Type
Buyout

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