Why Invest

NYSE-listed KNOT Offshore is structured as a master limited partnership (MLP) with the object of offering a stable yield to its unitholders. Enabling the MLP to achieve this are the steady and predictable cash flows that have been and continue to be achieved through our fixed term contracted assets.

Whilst the Shuttle tanker is part of a relatively small segment and therefore a bit of a niche, KNOP and Sponsor Knutsen NYK operate a sizeable fleet.

This creates several competitive advantages, operational expertise has been built after over 3 decades of experience, redeployment of the tanker is relatively straightforward at the end of each contract, and contracts are competitively but sensibly priced.

KNOP operates these strategic assets with pass-through contracts and for the end user they are a vital component of their supply chain.

Given these factors the vessels are relatively easy to secure significant levels of financing against which is taken advantage of to maintain the distribution. It does mean that our debt levels are probably higher than many MLPs when compared to income.

Although free to acquire assets from third parties, the MLP has, to date, acquired all its assets from its general partner, Knutsen NYK. The acquisition of additional assets and their associated cash flows has enabled the Partnership to grow its distributions to unitholders, spread counterparty risk and maintain a lower cost of capital as a result. This lower cost of capital has made it possible for KNOT Offshore Partners to cost-effectively raise new equity to part-finance future acquisitions.

KNOT Offshore Partners is structured as an MLP however it has elected to be taxed as a corporation. As a result, registered unitholders receive a US tax form 1099 and not a K-1.

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