KNOT Signs Charter Contract with Total

Laxman Pai
Wednesday, August 28, 2019

Knutsen NYK Offshore Tankers AS (KNOT), a NYK Group company, has concluded a time-charter contract for a maximum 15-year period starting from 2021 for a shuttle tanker with French oil and gas giant Total for its Brazilian activities.

The contract aims to use a 152,000 DWT Suezmax tanker equipped with a dynamic-positioning system built in China by COSCO (Zhoushan) Shipyard Co., Ltd. to shuttle crude oil produced in waters off Brazil.

Knutsen NYK Offshore Tankers AS (KNOT) is a joint venture company between NYK (which  has a 50 percent share) and TS Shipping Invest AS (TSSI), the parent company of the Knutsen Group. The KNOT Group has a share of about 40 percent of the world shuttle tanker market (not including the number of vessels on order and shuttle tankers in Russia).

With this new building, the KNOT Group will have 32 shuttle tankers in operation or on order.

In accordance with its medium-term management plan “Staying Ahead 2022 with Digitalization and Green,” the NYK Group will continue its efforts to provide stable and economical energy-transport services in the shuttle tanker and offshore businesses.

Shuttle tanker is called a “floating pipeline,” a shuttle tanker loads crude oil from floating production, storage, and offloading (FPSO) units in deepwater ocean fields while maintaining a certain distance, and then transports the oil to crude-oil storage units or petroleum storage stations on land.

Categories: Contract Tanker Charter

Related Stories

US Firm Finds Chinese Partner to Deliver Mobile Offshore Drilling Units

Beam’s AI-Driven AUV to Hit Offshore Wind Market in 2025

CRC Evans Secures Work at Qatar’s Largest Offshore Oil Field

Floating Wind and the Taming of Subsea Spaghetti

Nong Yao C Development Bolsters Valeura’s Production Rates Off Thailand

Allseas Hooks $180M Pipeline Installation Job Offshore Philippines

IK Group Spins Off Norclamp

Shipbuilding: Wind Turbine Installation Vessel Delivered to Cadeler

Key China Energy Indicators to Track for the Rest of 2024

South Korea's KOMIPO Cancels Plans for LNG Import Terminal

Current News

Sapura Scoops Petrobras Contract for Pan-Malaysia Offshore Services

Velesto’s Drilling Rigs Up for Automatization Overhaul Under New Tech Alliance

US Firm Finds Chinese Partner to Deliver Mobile Offshore Drilling Units

TotalEnergies and Oil India to Jointly Tackle Methane Emissions Issues

Keppel Reclaiming Control of 13 Rigs to Cash In on Offshore Drilling Market's Growth

Global Offshore Wind Stumbles to the End of '24

Seatrium Delivers Fifth Jack-Up to Borr Drilling

Malaysia's FPSO Firm Bumi Armada Eyes Merger with MISC’s Offshore Unit

Global OTEC Presents OTEC Power Module for Remote Offshore Platforms

Beam’s AI-Driven AUV to Hit Offshore Wind Market in 2025

Subscribe for AOG Digital E‑News

AOG Digital E-News is the subsea industry's largest circulation and most authoritative ENews Service, delivered to your Email three times per week

https://accounts.newwavemedia.com