KNOT Offshore Partners (KNOP) has released an update.
KNOT Offshore Partners LP has upgraded its fleet by swapping the older Dan Cisne tanker for the newer, state-of-the-art Suezmax class shuttle tanker Tuva Knutsen, ensuring contracted revenues until 2031 with a fixed charter through 2026. The $97.5 million acquisition of Tuva Knutsen, which offsets the $30 million sale of Dan Cisne, represents a strategic move to reduce fleet age and increase capacity in high-demand tanker classes. This fleet enhancement is expected to bolster long-term contracts and create value for unitholders without additional funding requirements.
For further insights into KNOP stock, check out TipRanks’ Stock Analysis page.
