KNOT Offshore Partners LP Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2023
August 30, 2023 at 04:32 pm EDT
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KNOT Offshore Partners LP reported earnings results for the second quarter and six months ended June 30, 2023. For the second quarter, the company reported sales was USD 69.92 million compared to USD 63.79 million a year ago. Revenue was USD 73.82 million compared to USD 63.96 million a year ago. Net loss was USD 40.39 million compared to net income of USD 9.89 million a year ago.
For the six months, sales was USD 132.86 million compared to USD 128.98 million a year ago. Revenue was USD 145 million compared to USD 129.16 million a year ago. Net loss was USD 41.69 million compared to net income of USD 36.67 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.