Welcome to our dedicated page for Knot Offshore Partners Lp news (Ticker: KNOP), a resource for investors and traders seeking the latest updates and insights on Knot Offshore Partners Lp stock.
KNOT Offshore Partners LP (NYSE: KNOP) provides essential shuttle tanker services for offshore crude oil transportation, operating primarily in the North Sea and Brazilian markets. This news hub offers investors and industry professionals centralized access to official updates, financial disclosures, and operational developments from this master limited partnership.
Track KNOP's strategic initiatives through verified press releases covering charter agreements, fleet expansions, and partnership announcements. The curated collection includes earnings reports, regulatory filings, and operational updates that demonstrate the company's role in maintaining critical energy infrastructure.
Key focus areas include long-term charter contract developments, environmental compliance measures, and technological advancements in offshore logistics. Users will find factual updates on vessel acquisitions, market expansions, and operational milestones that impact KNOP's position in specialized marine transportation.
Bookmark this page for direct access to primary source materials from KNOT Offshore Partners. Regularly updated content ensures stakeholders maintain current awareness of this shuttle tanker operator's activities in global energy supply chains.
KNOT Offshore Partners LP reported its Q2 2024 financial results, generating total revenues of $74.4 million and a net loss of $12.9 million. The loss includes a $16.4 million non-cash impairment for two vessels. Adjusted for this, net income was $3.5 million. Key highlights:
- Adjusted EBITDA of $45.5 million
- Available liquidity of $66.6 million
- Fleet utilization of 98.8%
- Declared quarterly distribution of $0.026 per common unit
- Executed new time charters for multiple vessels
- Acquired Tuva Knutsen and sold Dan Cisne in a vessel swap
The Partnership reports 93% charter coverage for 2024 from fixed contracts, rising to 95% with options. Management sees improving market conditions in Brazil and anticipates offshore oil production growth to outpace shuttle tanker supply in coming years.
KNOT Offshore Partners LP (NYSE:KNOP) has announced a strategic vessel swap, exchanging the smaller, older Dan Cisne for the newer, industry-standard Suezmax shuttle tanker Tuva Knutsen. The transaction involves:
1. Acquiring Tuva Knutsen for $97.5 million (less $69.0 million debt)
2. Selling Dan Cisne for $30 million
3. Net payment of $1.1 million from KNOT to KNOP
The Tuva Knutsen, built in 2021, has a fixed charter with TotalEnergies until February 2026, with KNOT guaranteeing the hire rate until August 2031. This swap reduces KNOP's average fleet age, increases long-term contract stability, and focuses on high-demand shuttle tanker classes without requiring new funding.
KNOT Offshore Partners LP (NYSE:KNOP) has announced its plans to release 2nd Quarter 2024 financial results before market opening on Wednesday, September 4, 2024. The company will host a conference call at 9:30 AM (Eastern Time) on the same day to discuss the results. Unitholders and interested parties can participate via webcast or by dialing in. The earnings presentation will be available on the company's website prior to the call. A recording of the call will be accessible until September 11, 2024.
KNOT Offshore Partners LP operates in the offshore oil production regions of the North Sea and Brazil, primarily owning and operating shuttle tankers under long-term charters. The company is structured as a publicly traded master partnership but is classified as a for U.S. federal income tax purposes.
KNOT Offshore Partners LP (NYSE: KNOP) announced a quarterly cash distribution of $0.026 per common unit for the quarter ending June 30, 2024. This distribution will be paid on August 8, 2024, to unitholders of record as of July 29, 2024. KNOT Offshore Partners LP focuses on owning and operating shuttle tankers under long-term charters in the offshore oil production regions of Brazil and the North Sea. Structured as a publicly traded master partnership, it issues Form 1099 to its unitholders for U.S. federal income tax purposes. KNOP common units trade on the New York Stock Exchange.
KNOT Offshore Partners LP reported Q1 2024 financial results.
Key highlights include: revenues of $76.6 million, operating income of $19.7 million, and net income of $7.4 million. EBITDA adjusted to $47.5 million.
Fleet utilization stood at 97.6%, and available liquidity was $55.2 million.
Key events: declaration of cash distributions, vessel contracts renewals, and the signing of new time charters. The Dan Cisne returned post-charter and is assessing new operations.
The company signed a $60 million loan facility and achieved refinancing milestones. CEO Derek Lowe highlighted contract coverage, fleet utilization, and improving market outlooks in Brazil and the North Sea.
Revenue and operating income increased compared to Q4 2023 and Q1 2023.
Interest expenses decreased due to lower rates and debt.
Overall, KNOT Offshore Partners LP reported a strong operational and financial performance for Q1 2024.
KNOT Offshore Partners LP (NYSE:KNOP) announced it will release its financial results for the 1st Quarter of 2024 on May 23, 2024. A conference call will be held to discuss the results on the same day. The Partnership owns and operates shuttle tankers in offshore oil production regions. Common units trade on the NYSE under the symbol 'KNOP'.
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