Knutsen NYK Offshore Tankers (KNOT) has fixed another shuttle tanker to Brazil Shipping, a subsidiary of UK energy company BG Group.
KNOT is a joint venture between Norwegian tanker owner Knutsen OAS Shipping and Japan’s NYK Line.
KNOT will order a 158,000dwt Suezmax tanker equipped with dynamic positioning systems at Hyundai Heavy Industries (HHI). The ship will be delivered by the second quarter of 2017.
The latest contract came after KNOT fixes two similar tankers to Brazil Shipping in September 2014. The tankers for this contract will be delivered by HHI in the fourth quarter of 2016.
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The contracts, which will last up to 20 years, will see the tankers ship crude oil produced by FPSOs in offshore Brazil, where BG has stakes in oil and gas fields.
Upon the start of the latest tanker contract, the KNOT Group will have 32 shuttle tankers in operation or on order.
In line with its medium-term management plan “More Than Shipping 2018,” NYK Line will continue its efforts to provide stable and economical energy transport services.
This post was sourced from IHS Maritime 360: View the original article here.