August 15, 2017
Shell is expected to start operating the Lena Knutsen vessel in Brazil in September. The contract of the vessel lasts for five years, with the option of extending the agreement for another two periods of five years. The naval assets belong to the British company KNOT Offshore Partners.
The Norwegian-flagged vessel was delivered this year and is currently on the Brazilian coast. It was built by Hyundai Heavy Industries in South Korea and is a Suezmax-class tanker.
During the second quarter, KNOT Offshore Partners entered into a stock purchase agreement with Knutsen NYK to acquire Lena Knutsen. The value of the transaction was $ 142 million.