KNOP Bags Dan Sabia

KNOP Bags Dan Sabia

The NYSE-listed shipowning partnership KNOT Offshore Partners (KNOP) has completed the previously announced acquisition of all the ownership interests in KNOT Shuttle Tankers 21 AS, the company that owns and operates the 2012-built, 59,000 dwt double-hull DP2 shuttle tanker Dan Sabia.

The purchase price was USD 103 million, net of USD 64.5 million of outstanding indebtedness related to the vessel, subject to post-closing adjustments.

The cash portion of the purchase price was financed with proceeds from KNOP’s public offering of 5,000,000 common units which closed on June 2, 2015.

The Dan Sabia is operating in Brazilian waters under bareboat charter with Petrobras Transporte S.A. The charter commenced upon delivery of the vessel in the first quarter of 2012 and will terminate in the first quarter of 2024.

KNOP owns, operates and acquires shuttle tankers under long-term charters in the offshore oil production regions of the North Sea and Brazil.

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