KNOT Offshore Partners announced that its subsidiary KNOT Shuttle Tankers agreed to acquire Knutsen Canadian Chartering from Knutsen NYK Offshore Tankers for an initial cost of approximately $24.4 million.
The transaction includes the ownership of Hedda Knutsen, a 154,000 DWT Suezmax class shuttle tanker delivered in 2024 by COSCO Shipping Heavy Industry.
Currently operating in Brazil under a time charter with Petrobras until November 2034, the vessel carries a charterer option for an additional five years.
The $113 million purchase price reflects $89.4 million in outstanding debt alongside $0.8 million of capitalized credit facility fees, subject to customary working capital adjustments.
In a separate transaction closed on August 25, the company secured a new $225 million credit facility with DNB Bank to refinance $225.8 million in existing term loans maturing in September 2026.
Guaranteed by KNOT Offshore Partners, the facility is secured by mortgages on five vessels: Tordis Knutsen, Vigdis Knutsen, Lena Knutsen, Anna Knutsen, and Brasil Knutsen.