LogIn LogOut

KNOT Signs Charter Contract with Total

August 28, 2019

Image:  Knutsen NYK Offshore Tankers (KNOT)
Image: Knutsen NYK Offshore Tankers (KNOT)

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.



Current News

Borr Drilling: Demand for Jack-Ups to Grow. 2019 Was a Record Year

Borr Drilling: Demand for Jack-Ups to Grow. 2019 Was a Record Year

Yinson: Abigail-Joseph FPSO Sets Sail for Nigeria. First Oil in May

Yinson: Abigail-Joseph FPSO Sets Sail for Nigeria. First Oil in May

Shell's Jack-Up Rig of the Year Award Goes to Maersk Convincer

Shell's Jack-Up Rig of the Year Award Goes to Maersk Convincer

Oil Prices Drop To Lowest In a Year

Oil Prices Drop To Lowest In a Year

Coronavirus Delays Three Indonesian LNG Cargoes to China

Coronavirus  Delays Three Indonesian LNG Cargoes to China

Bumi Armada to Appeal Ruling in FPSO Case with Woodside

Bumi Armada to Appeal Ruling in FPSO Case with Woodside

Iran to Boost Gas Output Capacity with New Offshore Platform

Iran to Boost Gas Output Capacity with New Offshore Platform

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