KNOT Offshore Partners LP Reports Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2022
March 14, 2023 at 04:30 pm EDT
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KNOT Offshore Partners LP reported earnings results for the fourth quarter and full year ended December 31, 2022. For the fourth quarter, the company reported Revenue was USD 71.61 million compared to USD 72.13 million a year ago. Net income was USD 6.03 million compared to USD 23.13 million a year ago.
For the full year, Revenue was USD 268.59 million compared to USD 281.13 million a year ago. Net income was USD 58.67 million compared to USD 53.88 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.