KNOT Offshore Partners LP said it completed the acquisition of the Hedda Knutsen, a 154,000-deadweight ton DP2 Suezmax shuttle tanker, for approximately $24.4 million. The purchase price reflects a gross outlay of $113.0 million, reduced by $89.4 million in outstanding debt and $0.8 million in capitalized credit facility fees, with customary post-closing adjustments pending.
The vessel, delivered in 2024 by COSCO Shipping Heavy Industry, operates under a time charter with Petrobras in Brazil. The current fixed charter period runs through November 2034, with Petrobras holding an option to extend for an additional five years.
The acquisition was approved by KNOT Offshore Partners’ board and an independent Conflicts Committee, supported by external financial and legal advisors. The transaction closed on Sunday, following an agreement signed on August 7, 2026.
Separately, KNOT Offshore Partners completed a $225 million refinancing of its existing term loans, which were set to mature in September 2026. The new senior secured credit facility, arranged with DNB Bank ASA as agent, covers five vessels owned by subsidiaries.
The facility is repayable in 20 quarterly installments, with a balloon payment of $111.1 million due at maturity in June 2031. Interest is set at SOFR plus a 1.65% margin annually. The loan is guaranteed by KNOT Offshore Partners and secured by mortgages on the vessels Tordis Knutsen, Vigdis Knutsen, Lena Knutsen, Anna Knutsen, and Brasil Knutsen.
