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) is a prominent publicly traded master limited partnership that specializes in owning, operating, and acquiring shuttle tankers. These vessels are essential for crude oil loading, transportation, and storage, operating primarily in the offshore oil production regions of the North Sea and Brazil. The company's unique business model focuses on long-term charters, ensuring consistent revenue streams and stable operations.
The partnership boasts a robust backing from its sponsor, Knutsen NYK Offshore Tankers (KNOT), a strategic joint venture between two globally renowned shipping groups—the Knutsen Group and the NYK Group. This collaboration provides substantial operational, administrative, and developmental support, bolstering KNOP’s market position.
KNOT Offshore Partners LP’s fleet is engaged in time charters and bareboat charters, ensuring versatile service offerings to its clients. KNOP has been structured in a way that optimizes tax efficiency and investor returns, filing as a 1099 entity. This structure is particularly attractive to investors seeking stable, tax-advantaged income from a sector with essential infrastructure.
Recent achievements include the acquisition of new shuttle tankers and securing long-term contracts with leading oil producers. These milestones position KNOP for sustained growth and resilience in the volatile energy sector. Financially, the company maintains a healthy balance sheet, with a strategic focus on leveraging its assets while controlling operational costs.
Keep an eye on KNOP for updates on new contracts, fleet expansions, and potential market opportunities stemming from its solid partnerships and operational expertise.
KNOT Offshore Partners reported strong financial performance for Q1 2021, with total revenues of $71.5 million, an increase from the $69.9 million in Q4 2020. The Partnership generated operating income of $27.6 million and net income of $28.1 million. Adjusted EBITDA reached $51.3 million, with a distribution coverage ratio of 1.20. Notably, the Partnership maintained robust liquidity, ending with $115 million available. CEO Gary Chapman highlighted strong cash flow and effective vessel utilization despite challenges posed by COVID-19.
KNOT Offshore Partners LP (NYSE:KNOP) will release its First Quarter 2021 financial results before the market opens on May 13, 2021. A conference call is scheduled for the same day at 11:00 AM (ET) to discuss these results. Interested parties can access the call via phone or through a webcast available on the Partnership's website. The earnings presentation will also be available prior to the call. A recording of the conference call will be accessible until May 20, 2021.
KNOT Offshore Partners LP (NYSE:KNOP) has declared a quarterly cash distribution of $0.52 per unit for the quarter ending March 31, 2021, equating to $2.08 annually. This distribution will be paid on May 13, 2021, to unitholders of record as of the close of business on April 29, 2021. The partnership focuses on owning, operating, and acquiring shuttle tankers under long-term charters in offshore oil production areas, primarily in the North Sea and Brazil. KNOP units trade on the New York Stock Exchange.
KNOT Offshore Partners LP (NYSE:KNOP) has filed its Annual Report on Form 20-F for the year ending December 31, 2020, with the SEC. This report is available on the Partnership’s website under the “Investor Relations” section and the SEC's website. Unitholders can request a hard copy of the report, which includes complete audited financial statements, at no cost by contacting the Partnership via email or mailing address provided.
KNOT Offshore Partners reported total revenues of $69.9 million and net income of $24.6 million for Q4 2020. Adjusted EBITDA stood at $52.9 million with $28.6 million in distributable cash flow. The distribution coverage ratio was 1.58. The fleet maintained high utilization at 98.6% and secured new charters for vessels commencing in 2023. The company entered a $25 million credit facility to enhance liquidity and completed the acquisition of the Tove Knutsen for $117.8 million. However, challenges remain due to COVID-19 impacts on oil demand and operational costs.
KNOT Offshore Partners LP (NYSE:KNOP) has declared a quarterly cash distribution of $0.52 per unit for the quarter ending December 31, 2020, amounting to $2.08 annually. The payment date is set for February 11, 2021, and it will be issued to unitholders on record as of January 29, 2021. KNOT Offshore Partners specializes in owning, operating, and acquiring shuttle tankers under long-term charters primarily in offshore oil production areas such as the North Sea and Brazil.
KNOT Offshore Partners LP (NYSE:KNOP) announced the acquisition of KNOT Shuttle Tankers 34 AS, which owns the shuttle tanker Tove Knutsen, for $117.8 million, financed through cash and existing credit. The Tove Knutsen, a modern DP2 Suezmax shuttle tanker, is under a seven-year charter with Equinor Shipping, ensuring firm employment until at least late 2027. A new $25 million revolving credit facility with Shinsei Bank has also been established. This acquisition strengthens KNOP's long-term contract coverage and aims to provide stable cash flow to support distributions.
KNOT Offshore Partners reported Q3 2020 revenues of $71.3 million, slightly up from $70.3 million in Q2. Net income increased to $25.1 million, compared to $21.7 million in Q2. Despite operating income declining to $30.9 million, the partnership maintained 100% utilization of its fleet. Adjusted EBITDA reached $53.3 million, and distributable cash flow was $28.9 million, with a distribution coverage ratio of 1.60. The impact of COVID-19 remained limited, and the partnership plans to secure new charters following the redelivery of a vessel in November.
KNOT Offshore Partners LP (NYSE:KNOP) is set to announce its Third Quarter 2020 financial results on November 19, 2020, before market opening. Following this, the company will host a conference call at 11:00 AM ET to discuss the results. Interested parties can join via phone or through a live webcast available on the company's website. The earnings presentation will also be available prior to the call. For those unable to attend live, a recording of the call will be accessible until November 26, 2020.
KNOT Offshore Partners LP (NYSE:KNOP) has announced a quarterly cash distribution of $0.52 per unit for the quarter ending September 30, 2020. This equates to an annualized distribution of $2.08 per unit. The payment will be made on November 13, 2020 to all unitholders on record by October 30, 2020. KNOT Offshore operates shuttle tankers under long-term charters in offshore oil production areas of the North Sea and Brazil, structured as a publicly traded master limited partnership.
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