KNOT Group concludes time-charter contract for shuttle tanker

A group company of Knutsen NYK Offshore Tankers AS , of which NYK has a 50 percent share, has concluded a time-charter contract with European oil major for a maximum 11-year period starting in the first quarter of 2017, the company said in its press release.
 
The agreement is for a 152,000 DWT Suezmax shuttle tanker equipped with a class 2 dynamic-positioning system and a bow-loading system. The tanker will be built by COSCO in Zhoushan, China, to shuttle crude oil produced from the Santos and Campos basins off Brazil.
 
Upon commencement of this contract, the KNOT Group will have 31 shuttle tankers in operation or on order transporting crude oil from the North Sea and waters off Brazil and eastern Canada.
 
In accordance with its medium-term management plan “More Than Shipping 2018,” NYK will continue its efforts to provide stable and economical energy-transport services in the shuttle tanker and offshore businesses.