MarketPR

KNOT Offshore Partners adds Hilda Knutsen and refinances $225 million as shuttle tanker supply falls short of demand

9/5/2026

The acquisition of the Hilda Knutsen for $113 million and a $225 million debt refinancing at SOFR plus 1.65% define KNOT Offshore Partners' (KNOP) Q2 2026 quarter.

The vessel deal netted $24.4 million in cash after assuming $89.4 million in existing debt and carries a charter to 2034, with management describing the transaction structure as consistent with historical dropdown norms.

Refinancing of the $65 million Lena Knutsen credit facility is the near-term watch: management expects a close by late October 2026.

Operational utilization reached 96.8% for the quarter, with the scheduled drydocking of the Fortaleza Knutsen the primary drag on overall results.