2014 September 16 10:42

KNOT сoncludes time-charter contract for two shuttle tankers

Knutsen NYK Offshore Tankers AS , of which NYK has a 50 percent share, has concluded a time-charter contract with Brazil Shipping Limited, a subsidiary of the U.K. energy company British Gas (BG). The contract is for two shuttle tankers for a maximum 20-year period starting from the fourth quarter of fiscal 2016, the company said in its press release.
The contract aims to use two 158,000 DWT Suezmax tankers equipped with dynamic-positioning systems built by Hyundai Heavy Industries Co. Ltd. to shuttle crude oil produced in waters off Brazil. BG owns interests in oil and gas fields in the waters off Brazil and is one of the major players in this area.
Upon commencement of this two-tanker contract, the KNOT Group will have 30 shuttle tankers in operation or on order.