The latest announcement is out from KNOT Offshore Partners ( (KNOP) ).
KNOT Offshore Partners LP reported strong financial results for Q4 2024, with revenues of $91.3 million and a net income of $23.3 million, reflecting a significant improvement from the previous quarter. The company achieved a fleet utilization rate of 98.3% and secured over 94% charter coverage for 2025, indicating robust demand in the shuttle tanker market. The acquisition of the shuttle tanker Live Knutsen and various new charter agreements highlight the company’s strategic efforts to strengthen its market position. The outlook for the Brazilian offshore oil market remains positive, with increasing charter rates and demand driven by Petrobras’ production levels and FPSO start-ups.
More about KNOT Offshore Partners
KNOT Offshore Partners LP operates in the maritime transportation industry, specializing in the ownership and operation of shuttle tankers. These vessels are primarily used for transporting crude oil from offshore oil fields to onshore refineries and storage facilities. The company focuses on the Brazilian and North Sea markets, which are key regions for offshore oil production.
YTD Price Performance: 2.58%
Average Trading Volume: 66,158
Technical Sentiment Consensus Rating: Strong Buy
Current Market Cap: $192.9M
See more data about KNOP stock on TipRanks’ Stock Analysis page.
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