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Knot orders two LNG-fuelled shuttle tankers worth $284m at DSME

Knutsen NYK Offshore Tankers (Knot) has ordered two new LNG-fuelled shuttle tankers at Daewoo Shipbuilding & Marine Engineering (DSME) on the back of long term charters secured with Eni.

South Korean shipyard DSME said the pair of 124,000-dwt newbuilding tankers are valued at KRW337bn ($284m), and deliveries for the ships are scheduled by 18 August 2022.

The two shuttle tankers will operate in the North Sea under firm time-charter periods of seven and five years respectively from delivery, with both then having further charter options up to a maximum of 10 years each.

“We are pleased to announce that Knot and Eni extend their partnership in the North Sea with two new LNG shuttle tankers. Eni, through their ownership in Var Energi has many interests in North Sea gas and oil fields and is thus one of the major players in the area. This contract is the third and fourth long term time-charter shuttle tanker contracts between Eni and Knot Group,” said Trygve Seglem,
president and ceo of Knot.

Knot said the shuttle tankers will be able to reduce emissions of carbon dioxide equivalents significantly compared to conventional oil-fueled shuttle tankers, through using LNG as the primary fuel and further utilised the energy recovered from volatile organic compounds.

There will also be installed a battery package to save energy during DP operation.

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