KNOT Offshore Partners LP
KNOT Offshore Partners LP owns, operates and acquires shuttle tankers that transport crude oil from offshore production fields to export terminals. The partnership’s fleet is deployed primarily under long-term charters in the offshore oil production regions of Brazil and the North Sea, and its common units trade on the New York Stock Exchange.
Tilikausi 2025 · muutos edellisvuodesta
Kehitys 2020–2025
Liiketoiminta
Osuus liikevaihdostaOperation of specialized tankers that move crude oil from offshore fields to terminals.
Long-term charter hire from vessels contracted to oil and energy customers.
Purchase or ordering of vessels for placement into charter service.
Tuotteet
Raportoitu · osuus liikevaihdosta- Time Charter and Bareboat Revenues99,3 %
- Bareboat Revenues0,6 %
- Voyage Revenue0,1 %
Lähde: 20-F FY2025, yhtiön tuotelinjoittain raportoima liikevaihto (SEC XBRL). Osuudet on laskettu näytetyistä riveistä ja ne summautuvat 100 %:iin.
Asiakkaat
The partnership serves oil and energy companies that produce crude from offshore fields and need dedicated shuttle tanker capacity to move that production to market. Its customers are typically charterers in Brazil and the North Sea that value reliable, long-duration transportation assets tied to field development and production schedules.
Buy shuttle tanker capacity to move crude from offshore fields to terminals and export hubs.
Charter vessels for specific offshore projects and production basins requiring reliable transport.
Need long-term shuttle tanker service linked to deepwater production and export logistics.
Use specialized tankers for mature offshore fields and regional crude transport routes.
Strategia
The partnership’s strategy centers on long-term charter visibility, fleet investment, and selective acquisitions that support stable cash flow generation. It also seeks to benefit from its established position in the shuttle tanker market while maintaining a sustainable distribution to unitholders.
Long charter terms reduce revenue volatility and support planning for vessel deployment and capital allocation.
Buying vessels that fit the charter profile can expand cash flow without relying only on spot market conditions.
The partnership structure depends on cash generation that can support regular unitholder payouts.
Maantiede
The business is concentrated in two offshore oil-producing regions: Brazil and the North Sea. These locations matter because vessel demand, charter duration, and operating economics are driven by the production profile of each basin and the logistics of moving crude from offshore platforms to shore.
Riskit
The business depends on offshore oil production levels, charter renewals, vessel availability, and the ability to operate safely and efficiently in regulated marine environments. Exposure is also shaped by capital spending, financing needs, and the partnership’s dependence on charterer credit quality and the timing of vessel deliveries or acquisitions.
- Dependence on offshore oil production activityVaikutus: KorkeaTodennäköisyys: Kohtalainen
Shuttle tanker demand is tied to the level and longevity of offshore crude output in Brazil and the North Sea.
Kohdistuu: Brazil and North Sea basins
- Charter concentration and renewal riskVaikutus: KorkeaTodennäköisyys: Kohtalainen
Long-term cash flows depend on charter contracts being renewed or replaced on acceptable terms.
Kohdistuu: Major charter counterparties
- Operational and marine safety riskVaikutus: KorkeaTodennäköisyys: Kohtalainen
Vessel downtime, accidents, or technical failures can interrupt service and increase costs.
Kohdistuu: Fleet operations
- Regulatory and crew availability riskVaikutus: KeskitasoTodennäköisyys: Kohtalainen
The business requires compliant operations, skilled crews, and adherence to maritime standards.
Kohdistuu: Shuttle tanker operations
- Capital and liquidity riskVaikutus: KeskitasoTodennäköisyys: Kohtalainen
Fleet acquisitions and vessel upkeep require ongoing funding and access to financing.
Kohdistuu: Acquisitions and maintenance capex
Kirjanpito
Harkinnanvaraiset erätRevenue depends on the period vessels are available under charter contracts, making timing important for quarterly results.
Vaikutus: Can create uneven quarterly revenue if vessels enter or leave service mid-period
The fleet is capital intensive and asset values depend on long-term charter support and market conditions.
Vaikutus: May materially affect reported earnings and balance sheet values
Periodic major maintenance costs must be estimated and recognized over time.
Vaikutus: Affects operating expenses and period-to-period comparability
The partnership is taxed as a corporation for U.S. federal income tax purposes and issues Form 1099s.
Vaikutus: Important for investor after-tax returns and payout interpretation
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Päivitetty: 28.9.2026