KNOT Offshore Partners’ Revenue and Market Outlook

KNOT Offshore Partners (KNOP) has released an update.

KNOT Offshore Partners reported Q3 2024 revenues of $76.3 million but faced a net loss of $3.8 million, despite strong fleet utilization at 98.8%. The company announced new charter agreements and highlighted optimism in the Brazilian offshore oil market, expecting robust demand to drive growth. As the largest shuttle tanker operator, KNOT aims to leverage market improvements for future value creation.

For further insights into KNOP stock, check out TipRanks’ Stock Analysis page.