Shuttle tanker player KNOT Offshore Partners has secured a charter extension for one of its suezmax vessels in Brazil.
The New York-listed company said Repsol had extended the charter of the 2013-built Carmen Knutsen, starting in the first quarter of 2025. The Spanish oil firm has had the vessel under contract since its delivery to KNOT Offshore Partners in 2013.
The contract continues into Q1 2026, after which the 156,000 dwt ship should move onto a long-term charter with an undisclosed oil major, according to KNOT Offshore Partners’ fleet status report.
KNOT Offshore Partners operates a fleet of 18 ships primarily under long-term charters in the offshore oil production regions of the North Sea and Brazil. The Partnership had nearly $1bn of remaining contracted forward revenue at the end of September, excluding charterers’ options and contracts agreed or signed after.
Earlier this week, another one of the company’s vessels, the 2012-built aframax Torill Knutsen began operating in the North Sea under a time charter with Eni for a fixed period of three years, with the Italian oil major holding three additional one-year extension options.
KNOT Offshore Partners is also looking at options for its smaller 2012-built 59,000 dwt Dan Sabia, following the expiry of its bareboat charter to Transpetro and redelivery in July.
“While the Dan Sabia stands out among the Partnership’s fleet as being of a smaller size than is optimal in today’s Brazilian market, we remain in discussions with our customers and continue to evaluate all our options for the Dan Sabia, including but not limited to redeployment in the tightening Brazilian market, deployment to the North Sea, charter to Knutsen NYK, short term conventional tanker work and sale,” the company said.
