Knot Offshore Partners LP
NYSE:KNOP
Knot Offshore Partners LP
KNOT Offshore Partners LP engages in the operation and acquisition of shuttle tankers under long-term charters. The company is headquartered in Aberdeen, Aberdeenshire and currently employs 1 full-time employees. The company went IPO on 2013-10-04. The Company’s vessels in its fleet are chartered to Equinor, Petrobras Transporte S.A. (Transpetro), Repsol Sinopec Brasil, S.A. (Repsol), Royal Dutch Shell plc, Var, Galp Sinopec Brazil Services B.V. (Galp), Shipping S.p.A. (ENI) and a subsidiary of KNOT. The firm had a fleet of over 16 shuttle tankers. Its shuttle tankers include the Windsor Knutsen, the Bodil Knutsen, the Recife Knutsen, the Fortaleza Knutsen, the Carmen Knutsen, the Hilda Knutsen, the Torill Knutsen, the Dan Cisne, the Dan Sabia, the Ingrid Knutsen, the Raquel Knutsen, the Tordis Knutsen, the Vigdis Knutsen, the Lena Knutsen, the Brasil Knutsen, the Anna Knutsen and the Tove Knutsen.
KNOT Offshore Partners LP engages in the operation and acquisition of shuttle tankers under long-term charters. The company is headquartered in Aberdeen, Aberdeenshire and currently employs 1 full-time employees. The company went IPO on 2013-10-04. The Company’s vessels in its fleet are chartered to Equinor, Petrobras Transporte S.A. (Transpetro), Repsol Sinopec Brasil, S.A. (Repsol), Royal Dutch Shell plc, Var, Galp Sinopec Brazil Services B.V. (Galp), Shipping S.p.A. (ENI) and a subsidiary of KNOT. The firm had a fleet of over 16 shuttle tankers. Its shuttle tankers include the Windsor Knutsen, the Bodil Knutsen, the Recife Knutsen, the Fortaleza Knutsen, the Carmen Knutsen, the Hilda Knutsen, the Torill Knutsen, the Dan Cisne, the Dan Sabia, the Ingrid Knutsen, the Raquel Knutsen, the Tordis Knutsen, the Vigdis Knutsen, the Lena Knutsen, the Brasil Knutsen, the Anna Knutsen and the Tove Knutsen.
Buyout Offer: KNOT Offshore Partners received an unsolicited offer from its sponsor to buy public units for $10 per unit; this is under review by an independent committee with no new details provided.
Q3 Financials: Reported revenue of $96.9 million, operating income of $30.6 million, net income of $15.1 million, and adjusted EBITDA of $61.6 million.
Distribution: Declared and paid a cash distribution of $0.06 per common unit in November.
Unit Buyback: Completed a buyback of nearly 385,000 units for just over $3 million, ending the program below the $10 million authorization.
Fleet & Contracts: Achieved 99.9% operational utilization (96.5% overall); secured several charter extensions and a new 1-year charter starting in Q2 2026.
Refinancings & Liquidity: Completed multiple refinancings, increasing available liquidity to $125.2 million at quarter end.
Market Outlook: Management noted tightening shuttle tanker markets, especially in Brazil and the North Sea, and expects strong demand to persist.
