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Knot picks up charter deal for shuttle tanker newbuilding

Knot picks up charter deal for shuttle tanker newbuilding
Knutsen NYK Offshore Tankers (Knot) has secured a time-charter contract for a shuttle tanker with an European oil major.

The charter deal, with a maximum 11-year period starting in the first quarter of 2017, involves a DP2, 152,000-dwt suezmax shuttle tanker to be built at Cosco’s shipyard in Zhoushan, China.

The shuttle tanker will be used to transport crude oil produced from the Santos and Campos basins off Brazil, according to Japan’s Nippon Yusen Kaisha (NYK), which owns 50% stake in Knot.

“Upon commencement of this contract, the Knot Group will have 31 shuttle tankers in operation or on order transporting crude oil from the North Sea and waters off Brazil and eastern Canada," the company said.