KNOT Offshore acquires Hedda Knutsen owner for $24.4M

KNOT Offshore Partners LP (KNOP) reports that its subsidiary KNOT Shuttle Tankers AS has agreed to acquire Knutsen Canadian Chartering AS, owner of the shuttle tanker Hedda Knutsen, from Knutsen NYK Offshore Tankers AS.

Rhea-AI Filing Summary

KNOT Offshore Partners LP (KNOP) reports that its subsidiary KNOT Shuttle Tankers AS has agreed to acquire Knutsen Canadian Chartering AS, owner of the shuttle tanker Hedda Knutsen, from Knutsen NYK Offshore Tankers AS. The purchase price is $113.0 million, less $89.4 million of outstanding indebtedness, plus $0.8 million of capitalized fees, resulting in an initial Acquisition cost of approximately $24.4 million, subject to customary working capital adjustments.

The 154,000-deadweight ton DP2 Suezmax class shuttle tanker operates in Brazil on a time charter with Petrobras through November 2034, with a 5-year extension option held by the charterer. KNOP subsidiaries also entered into a new $225 million senior secured credit facility on August 7, 2026 to refinance $225.8 million of existing term loans on five vessels, featuring 20 quarterly instalments, a $111.1 million balloon payment due June 2031, and interest at SOFR + 1.65%. The facility, guaranteed by KNOP and secured by mortgages on the vessels, closed on August 25, 2026 and replaces loans previously maturing in September 2026.

Key Figures

Hedda Knutsen purchase price: $113.0 million Outstanding indebtedness on Hedda Knutsen: $89.4 million Capitalized fees related to Hedda Knutsen credit facility: $0.8 million +5 more

8 metrics

Hedda Knutsen purchase price $113.0 million Consideration to acquire Knutsen Canadian Chartering AS, owner of the shuttle tanker Hedda Knutsen

Outstanding indebtedness on Hedda Knutsen $89.4 million Debt deducted from purchase price in Acquisition calculation

Capitalized fees related to Hedda Knutsen credit facility $0.8 million Added to Acquisition cost of Hedda Knutsen

Initial Acquisition cost $24.4 million Approximate initial cost of Hedda Knutsen Acquisition, subject to working capital adjustments

Hedda Knutsen deadweight tonnage 154,000 deadweight tons Size of DP2 Suezmax class shuttle tanker built in 2024

New senior secured credit facility $225 million Term loan entered into on August 7, 2026 to refinance existing vessel loans

Refinanced existing term loans $225.8 million Existing loans on five vessels refinanced by the new facility

Balloon payment at maturity $111.1 million Balloon due upon credit facility maturity in June 2031

Key Terms

senior secured credit facility, time charter, balloon payment, SOFR, +1 more

5 terms

senior secured credit facility financial

"entered into a new $225 million senior secured credit facility, with DNB Bank ASA"

A senior secured credit facility is a loan or revolving line of credit where lenders have first legal claim on specific company assets (collateral) and the debt ranks above other obligations for repayment. For investors it signals where a lender sits in the repayment pecking order and how much protection creditors have if the company struggles, affecting credit costs, the company’s ability to borrow more, and potential recoveries in a default — like a mortgage taking priority over other claims on a house.

time charter financial

"The vessel is operating in Brazil on a time charter with Petrobras"

A time charter is an agreement where a ship owner rents out their vessel to a customer for a set period, during which the customer has control over the ship’s use and operation. This arrangement matters to investors because it provides a steady income stream for the ship owner and indicates ongoing demand for shipping services, reflecting the health of global trade and transportation markets.

balloon payment financial

"with a balloon payment of $111.1 million due at maturity in June 2031"

A balloon payment is a large, single lump-sum due at the end of a loan after a schedule of smaller regular payments; think of it as making modest monthly payments like rent but owing one big bill at the finish. For investors, it matters because the borrower's ability to make or refinance that final payment affects credit risk, cash flow timing and the value of debt or equity tied to that borrower—unexpected shortfalls can cause losses or force restructuring.

SOFR financial

"The credit facility bears interest at a rate per annum equal to SOFR plus a margin"

The Secured Overnight Financing Rate (SOFR) is a market benchmark that measures the cost of borrowing cash overnight using U.S. Treasury securities as collateral. Investors watch SOFR because it acts like a speedometer for short-term interest costs—affecting loan rates, bond yields and the pricing of interest-rate contracts—so movements change borrowing expenses, cash returns and the value of interest-sensitive investments.

master limited partnership financial

"structured as a publicly traded master limited partnership but is classified as a corporation"

A master limited partnership is a type of business structure that combines features of a corporation and a partnership, allowing it to raise money from investors while passing profits directly to them. Think of it as a shared ownership group that offers regular income, making it attractive to investors seeking steady cash flow. This structure is often used by companies involved in natural resources or energy, where consistent revenue is common.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What acquisition did KNOT Offshore Partners (KNOP) announce in August 2026?

KNOT Offshore Partners LP announced that its subsidiary KNOT Shuttle Tankers AS will acquire Knutsen Canadian Chartering AS, owner of the shuttle tanker Hedda Knutsen, from Knutsen NYK Offshore Tankers AS as part of an $113.0 million transaction.

How much will KNOP initially pay for the Hedda Knutsen acquisition?

The initial cost of the Hedda Knutsen Acquisition will be approximately $24.4 million, calculated as the $113.0 million purchase price minus $89.4 million of outstanding indebtedness plus $0.8 million of capitalized fees, subject to customary working capital adjustments.

What are the charter terms for the Hedda Knutsen tanker owned by KNOP?

The Hedda Knutsen, a 154,000-deadweight ton DP2 Suezmax class shuttle tanker, operates in Brazil on a time charter with Petrobras. The current fixed period runs until November 2034, and Petrobras holds an option to extend the charter for a further 5 years.

What refinancing did KNOT Offshore Partners (KNOP) complete in August 2026?

Subsidiaries of KNOT Offshore Partners LP entered into a new $225 million senior secured credit facility to refinance $225.8 million of existing term loans on five vessels. Closing occurred on August 25, 2026.

What are the key terms of KNOP’s new $225 million credit facility?

The $225 million senior secured credit facility is a term loan with 20 consecutive quarterly instalments and a $111.1 million balloon payment due at maturity in June 2031. It bears interest at SOFR + 1.65% per annum and is guaranteed by KNOP.

Which KNOP vessels are covered by the new $225 million credit facility?

The new senior secured credit facility is for subsidiaries that own the Tordis Knutsen, Vigdis Knutsen (renamed ‘Ametista Brazil’ by its bareboat charterer), Lena Knutsen, Anna Knutsen, and Brasil Knutsen, refinancing their prior term loans.

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Available on EDGAR 08/26/2026 - 09:12 AM EDT Accepted by SEC EDGAR 08/26/2026 - 09:11 AM EDT Learn about SEC filing dates

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

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FORM 6-K

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REPORT OF FOREIGN PRIVATE ISSUER

PURSUANT TO RULE 13a-16 OR 15d-16

UNDER THE SECURITIES EXCHANGE ACT OF 1934

For the month of August 2026

Commission File Number: 001-35866

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KNOT Offshore Partners LP

(Translation of registrant’s name into English)

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2 Queen’s Cross,

Aberdeen, AB15 4YB

United Kingdom

(Address of principal executive office)

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Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.

Form 20-F ☒ ​ Form 40-F ☐

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ITEM 1–INFORMATION CONTAINED IN THIS FORM 6-K REPORT

Attached as Exhibit 99.1 is a copy of the press release of KNOT Offshore Partners LP dated August 26, 2026.

ITEM 2– EXHIBITS

The following exhibits are filed as a part of this report:

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Exhibit Number	​ ​ ​	Exhibit Description
99.1	​	Press release dated August 26, 2026.

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SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

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​	KNOT OFFSHORE PARTNERS LP
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Date: August 26, 2026	By:	/s/ Derek Lowe
​	​	Name: Derek Lowe
​	​	Title: Chief Executive Officer and Chief Financial Officer

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Exhibit 99.1

KNOT Offshore Partners LP acquires Hedda Knutsen and completes $225 million loan refinancing

August 26, 2026

ABERDEEN, Scotland --(BUSINESS WIRE)

Hedda Knutsen acquisition

KNOT Offshore Partners LP (NYSE:KNOP) (“KNOP”, “we” or ”us”) announced today that its wholly owned subsidiary, KNOT Shuttle Tankers AS, has agreed to acquire Knutsen Canadian Chartering AS, the company that owns the shuttle tanker, Hedda Knutsen, from Knutsen NYK Offshore Tankers AS (the “Acquisition”).

The purchase price is $113.0 million, less $89.4 million of outstanding indebtedness, plus $0.8 million of capitalized fees related to the credit facility secured by the Hedda Knutsen. The initial cost of the Acquisition will therefore be approximately $24.4 million, and is subject to customary post-closing adjustments for working capital.

The Hedda Knutsen, a 154,000-deadweight ton DP2 Suezmax class shuttle tanker, was built by COSCO Shipping Heavy Industry and delivered in 2024. The vessel is operating in Brazil on a time charter with Petrobras, for which the current fixed period expires in November 2034, and for which the charterer holds an option for a further 5 years.

The Acquisition was approved by KNOP’s Board of Directors and independent Conflicts Committee, who were supported by an outside independent financial advisor and outside legal counsel.

$225 million loan refinancing completion

On August 7, 2026, KNOP’s subsidiaries that own the Tordis Knutsen, the Vigdis Knutsen (renamed by the current bareboat charterer as ‘Ametista Brazil’), the Lena Knutsen, the Anna Knutsen, and the Brasil Knutsen, entered into a new $225 million senior secured credit facility, with DNB Bank ASA as Agent on behalf of the lenders, in order to refinance their existing term loans in the amount of $225.8 million. The credit facility consists of a term loan repayable in 20 consecutive quarterly instalments, with a balloon payment of $111.1 million due at maturity in June 2031. The credit facility bears interest at a rate per annum equal to SOFR plus a margin of 1.65%. The credit facility is guaranteed by KNOP and secured by mortgages on the five vessels. The new senior secured credit facility refinances the previously existing term loans related to these vessels which were due to mature in September 2026. Closing of this senior secured credit facility took place on August 25, 2026.

About KNOT Offshore Partners LP

KNOT Offshore Partners LP owns, operates and acquires shuttle tankers primarily under long-term charters in the offshore oil production regions of Brazil and the North Sea.

KNOT Offshore Partners LP is structured as a publicly traded master limited partnership but is classified as a corporation for U.S. federal income tax purposes, and thus issues a Form 1099 to its unitholders, rather than a Form K-1. KNOT Offshore Partners LP’s common units trade on the New York Stock Exchange under the symbol “KNOP”.

KNOT Offshore Partners LP 

Derek Lowe
Chief Executive Officer and Chief Financial Officer
Email: ir@knotoffshorepartners.com
Tel: +44 1224 618 420

Source: KNOT Offshore Partners LP

Filing Exhibits & Attachments

1 document

Press Releases

• EX-99.1 EX-99.1 6.2 KB