KNOT Offshore Partners LP operates a specialized fleet of shuttle tankers equipped with advanced dynamic positioning systems, enabling safe loading and offloading in harsh deepwater environments. The company functions as a critical midstream infrastructure provider for the offshore oil and gas industry, bridging the gap between offshore production units and onshore storage or refining facilities. Its business model relies on fixed-rate time charters and bareboat charters with national oil companies and oil majors, which provides stable, predictable cash flows largely insulated from commodity price volatility. The partnership's operations are heavily concentrated in the prolific offshore oil regions of the North Sea and Brazil. Formed by Knutsen NYK Offshore Tankers AS, the company leverages its sponsor's extensive maritime and energy logistics expertise to maintain high fleet utilization and pursue strategic fleet expansion.
