An announcement from KNOT Offshore Partners ( (KNOP) ) is now available.
On February 27, 2025, KNOT Offshore Partners LP announced a strategic vessel swap involving the acquisition of the 2021-built Suezmax shuttle tanker Live Knutsen and the sale of the smaller, older 2012-built Dan Sabia. This transaction, approved by the Board and independent committees, enhances the company’s fleet with a more modern vessel and secures long-term charter revenue until 2029, aligning with the company’s strategy to secure stable cash flows and improve fleet age without requiring new funding. The move is expected to strengthen KNOT’s position in the shuttle tanker market, providing value creation for stakeholders.
More about KNOT Offshore Partners
KNOT Offshore Partners LP is a company that owns, operates, and acquires shuttle tankers, primarily under long-term charters in offshore oil production regions such as Brazil and the North Sea. It is structured as a publicly traded master limited partnership and its common units trade on the New York Stock Exchange under the symbol ‘KNOP’.
YTD Price Performance: -1.66%
Average Trading Volume: 87,018
Technical Sentiment Consensus Rating: Strong Buy
Current Market Cap: $184.9M
See more data about KNOP stock on TipRanks’ Stock Analysis page.