Welcome to our dedicated page for Knot Offshore Partners Lp news (Ticker: KNOP), a resource for investors and traders seeking the latest updates and insights on Knot Offshore Partners Lp stock.
KNOT Offshore Partners LP reports developments tied to its shuttle tanker fleet, which it owns, operates and acquires primarily under long-term charters in offshore oil production regions of Brazil and the North Sea. News commonly covers interim results, vessel utilization, credit facilities, cash distributions on common and preferred units, and the availability of annual Form 20-F reports.
Company updates also address limited-partner meeting and proxy matters, board capital-allocation actions such as unit buyback authorization, and governance processes involving proposals affecting the Partnership’s public common units. KNOP is a publicly traded master limited partnership whose common units trade on the NYSE and whose U.S. tax reporting is on Form 1099 rather than Schedule K-1.
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KNOT Offshore Partners LP (NYSE:KNOP) will announce its financial results for Q1 2023 before the market opens on May 26, 2023. A conference call will follow at 9:30 AM ET on the same day to discuss the results, with access options available via the company's website or through designated phone numbers for the US, Canada, and international callers. The earnings presentation will be accessible on the website prior to the call, and a recorded version will be available until June 2, 2023. KNOT Offshore is focused on owning, operating, and acquiring shuttle tankers under long-term charters in the North Sea and Brazil, and trades under the symbol KNOP.
KNOT Offshore Partners LP (NYSE:KNOP) announced a quarterly cash distribution of $0.026 per common unit for the quarter ending March 31, 2023. This distribution will be payable on May 11, 2023, to unitholders of record as of April 27, 2023. The company operates shuttle tankers under long-term charters primarily in the North Sea and Brazil, and is structured as a publicly traded master limited partnership. For tax purposes, it issues a Form 1099 to unitholders instead of a Form K-1. The partnership emphasizes that its future results are subject to various risks and uncertainties, which are detailed in their Annual Report filed with the SEC.
KNOT Offshore Partners LP (NYSE:KNOP) announced the resignation of CEO and CFO Gary Chapman, who will leave to pursue an opportunity outside the shuttle tanker sector. Chapman will assist the Partnership for up to six months to ensure a smooth transition until a successor is appointed. Trygve Seglem, Chairman of the Board, expressed gratitude for Chapman's contributions, particularly during a challenging transitional period for the Partnership and the shuttle tanker industry.
KNOT Offshore Partners LP specializes in owning and operating shuttle tankers primarily under long-term charters in the North Sea and Brazil, and is structured as a publicly traded master limited Partnership.
KNOT Offshore Partners LP (NYSE:KNOP) announced a board of directors change, effective April 1, 2023. Mr. Yasuhiro Fukuda has been appointed to replace Mr. Junya Omoto. Fukuda has extensive experience at Nippon Yusen Kabushiki Kaisha (NYK), joining the company in 1996 and serving in various divisions, including LNG and Offshore Business. His leadership role is expected to provide fresh perspectives to KNOT Offshore Partners, a company that owns and operates shuttle tankers in the North Sea and Brazil under long-term charters.
KNOT Offshore Partners LP (NYSE:KNOP) has filed its Annual Report on Form 20-F for the year ended December 31, 2022, with the SEC. The report is accessible through the Partnership’s website under the 'Investors' section or directly on the SEC's site. Unitholders can request a hard copy of the Annual Report, which includes the complete audited financial statements, free of charge via email or postal mail. KNOT Offshore operates shuttle tankers under long-term charters primarily in the North Sea and Brazil, and its common units trade on the NYSE under the symbol 'KNOP.'
KNOT Offshore Partners LP reported robust financials for Q4 2022, with total revenues reaching $71.6 million, operating income at $19.6 million, and a net income of $6.0 million. Adjusted EBITDA was $47.4 million, while available liquidity stood at $47.6 million. Vessel utilization was strong at 96.1% for scheduled operations. The Partnership declared a quarterly cash distribution of $0.026 per common unit. Notably, the Windsor Knutsen commenced a one-year charter with Shell, enhancing future revenue potential. Despite a challenging North Sea market, management remains optimistic about medium-term demand growth amidst limited new build orders.
KNOT Offshore Partners LP (NYSE:KNOP) will release its Fourth Quarter 2022 financial results on March 15, 2023, before market opening. A conference call to discuss the results is scheduled for the same day at 10:00 AM Eastern Time. Interested parties can access the call via the company’s website or by phone. The Fourth Quarter 2022 Earnings Presentation will be available on their website ahead of the call, and a recorded version of the call will be accessible until March 22, 2023.
KNOT Offshore Partners LP specializes in owning and operating shuttle tankers under long-term charters in offshore oil production areas, primarily in the North Sea and Brazil.
Knot Offshore Partners LP (NYSE:KNOP) announced a quarterly cash distribution of $0.026 per common unit for Q4 2022, payable on February 9, 2023, to unitholders of record on January 26, 2023. CEO Gary Chapman highlighted ongoing challenges in the shuttle tanker market, attributing reduced earnings visibility to multiple drydocks and the lack of finalized charters for four vessels in Brazil. The Partnership aims for a sustainable long-term distribution despite these challenges, believing the medium-term market in the North Sea and Brazil will improve significantly.
KNOT Offshore Partners LP (NYSE:KNOP) announced that the upcoming U.S. Treasury and IRS regulations on publicly traded partnerships will not affect its unitholders, effective January 1, 2023. These regulations mandate a 10% tax withholding for certain non-U.S. partners, potentially restricting non-U.S. investors' ability to hold such interests. However, KNOP has elected to be treated as a C corporation for tax purposes, which exempts its unitholders from these regulations. This corporate structure allows the Partnership to issue a Form 1099 instead of a Form K-1.