KNOT Offshore Partners LP Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2022
November 30, 2022 at 03:02 am IST
Share
KNOT Offshore Partners LP reported earnings results for the third quarter and nine months ended September 30, 2022. For the third quarter, the company reported sales was USD 67.74 million compared to USD 66.56 million a year ago. Revenue was USD 67.82 million compared to USD 66.58 million a year ago. Net income was USD 15.97 million compared to USD 13.53 million a year ago.
For the nine months, sales was USD 196.71 million compared to USD 198.67 million a year ago. Revenue was USD 196.97 million compared to USD 209 million a year ago. Net income was USD 52.64 million compared to USD 30.74 million a year ago.
KNOT Offshore Partners LP is a United Kingdom-based company that owns, operates and acquires shuttle tankers primarily under long-term charters in the offshore oil production regions of Brazil and the North Sea. The Company's fleet consists of approximately 18 shuttle tankers, which vessels are designed to transport crude oil and condensates from offshore oil field installations to onshore terminals and refineries. Its shuttle tankers are equipped with sophisticated loading and dynamic positioning systems that allow the vessels to load cargo safely from oil field installations, in harsh weather conditions and where there are strong currents. The Company's vessels include Tove Knutsen, Synnove Knutsen, Lena Knutsen, Vigdis Knutsen, Anna Knutsen, Tordis Knutsen, Raquel Knutsen, Carmen Knutsen, Brasil Knutsen, Hilda Knutsen, Torill Knutsen, Ingrid Knutsen, Dan Sabia, Bodil Knutsen, Fortaleza Knutsen, Recife Knutsen, Dan Cisne and Windsor Knutsen.