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 (NYSE: KNOP) is a publicly traded master limited partnership that owns, operates and acquires shuttle tankers, with a focus on long-term charters in offshore oil production regions in Brazil and the North Sea. The KNOP news feed on Stock Titan brings together the Partnership’s press releases and related coverage so readers can follow developments affecting its shuttle tanker operations and capital structure.
According to its announcements, KNOT Offshore Partners LP regularly issues news on quarterly cash distributions to common unitholders and holders of Series A Convertible Preferred Units, earnings releases for interim periods, and utilization and charter coverage for its fleet. The Partnership also reports on new vessel acquisitions from Knutsen NYK Offshore Tankers AS, sale and leaseback transactions for specific shuttle tankers, and refinancings of revolving credit facilities and term loans secured by its vessels.
Governance and corporate actions are another recurring theme in KNOP news. The Partnership has published notices and proxy materials for its annual meeting of limited partners, disclosed adjournments and rescheduled meeting dates due to lack of quorum, and announced nominations and appointments to its Board of Directors. It has also reported receiving an unsolicited non-binding proposal from Knutsen NYK Offshore Tankers AS to acquire all publicly held common units through a merger, with a conflicts committee evaluating the offer.
Investors and observers can use this news page to review KNOP’s earnings releases, distribution declarations, charter extensions with counterparties in Brazil and the North Sea, financing updates and governance developments in one place. For those following the deep sea freight transportation and shuttle tanker segment, the KNOP news stream provides direct insight into how the Partnership communicates its performance, fleet activity and strategic decisions over time.
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.
KNOT Offshore Partners LP (NYSE:KNOP) reported Q3 2022 total revenues of $67.8 million, an increase from $64.0 million in Q2 2022. The partnership achieved an operating income of $15.7 million and a net income of $16.0 million. Adjusted EBITDA was $43.3 million with distributable cash flow at $10.9 million. The fleet maintained a high utilization rate of 99.7%. A quarterly cash distribution of $0.52 per common unit was declared. However, the company anticipates potential challenges in the North Sea due to oversupply and seeks additional employment opportunities.
KNOT Offshore Partners LP (NYSE:KNOP) will release its Third Quarter 2022 financial results on November 30, 2022, before market opening.
The Partnership will hold a conference call on the same day at 10:00 AM Eastern Time for discussing the results, which interested parties can join via phone or webcast. The earnings presentation will also be available on its website. A recording of the call will be accessible until December 7, 2022.
KNOT Offshore operates shuttle tankers primarily under long-term charters in the North Sea and Brazil.
KNOT Offshore Partners LP (NYSE:KNOP) has declared a quarterly cash distribution of $0.52 per unit for the quarter ended September 30, 2022. This annualizes to $2.08 per unit. The distribution will be paid on November 9, 2022, to all unitholders on record as of the close of business on October 27, 2022. KNOT Offshore focuses on 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) has announced that its 2022 Annual Meeting will take place on October 20, 2022, with a record date for voting set on September 20, 2022. The meeting is scheduled for 3:00 PM UK time at One Elmfield Park, Bromley, United Kingdom. Prior to the meeting, notice and agenda will be distributed. In light of potential public health regulations, the location may change or the meeting could be held remotely, with announcements made in advance.
KNOT Offshore Partners LP (NYSE:KNOP) reported total revenues of $64.0 million for the second quarter of 2022, a slight decrease from $65.2 million in the previous quarter. Operating income fell to $13.4 million compared to $17.5 million in Q1. Net income was $9.9 million, down from $26.8 million in Q1, attributable to increased expenses and drydockings. Distributable cash flow decreased to $9.4 million. The partnership maintained 100% utilization for scheduled operations. Liquidity remains strong at $123.5 million.
KNOT Offshore Partners LP (NYSE:KNOP) will release its Second Quarter 2022 financial results before market open on August 25, 2022. The Partnership will hold a conference call on the same day at 11:00 AM ET to discuss the results. Shareholders and interested parties can participate via phone or webcast through the company’s website. The earnings presentation will be available ahead of the call, and a recording will remain accessible until September 1, 2022.