Knutsen Group

About Knutsen Group

Knutsen Group consists of fully integrated shipping companies. The headquarter is in Haugesund, Norway.

- Knutsen NYK Offshore Tankers (Shuttle Tankers and Floating Storage and Offloading Tankers)

- KNOT Offshore Partners, KNOP (MLP listed company on NYSE)

- Knutsen LNG (Liquefied Natural Gas Carriers)

- Knutsen OAS Shipping (LNG and Product Tankers ship management)

- Knutsen Technology (marine shipping technology development)

- KNCC (Knutsen NYK Carbon Carriers)

The Company provides full in-house shipping management including technical and commercial operation, chartering, as well as building supervision, conversion and project development.

Knutsen is the largest shuttle tanker operator in the world, and a major operator of LNG carriers with a high quality- and technically advanced vessels.

The Company has own proprietary technology for VOC (Volatile Organic Compounds) reduction during tanker loading, Knutsen KVOC® Technology. Knutsen has also developed new technology for ballast water treatment, KBAL® system.

Knutsen has developed its own concepts for Floating Production Storage and Offloading (“FPSO”) vessels and Liquedfied Natural Gas (“LNG”) vessels, arctic LNG carriers, LNG shuttle tankers, special dynamic positioning vessels for well stimulation and chemicals injection (Enhanced Oil Recovery), extended well testing, and plug and abandonment.

Business & operations

Knutsen is undertaking the commercial and technical management of all shuttle tankers, FSO’s, LNG carriers and the Product/Chemical tankers.

Company's main customers are Shell, Repsol, Naturgy, PGNiG, Endesa, Edison Equinor, Total, Exxon, ENI, GALP, MAERSK oil & gas, Petrobras/ Transpetro and Enel among others.

_{Over the years Knutsen has been awarded;}

- Halert C. Shepheard Award by the Chamber of Shipping of America at the CMA Shipping 2010

- E &Y entrepreneur of the year 2008

- Outstanding employer of Filipino seafarer 2005

- ONS innovation nominations for PNG and KVOC 2003

Knutsen OAS Shipping and Knutsen NYK Offshore Tankers have the following certificates:

DNVGL

- ISO 9001:2015

- ISO 14001:2015

- ISO 45001:2018

- ISM & ISPS Code

- MLC 20016

ACHILLES

- JQS -Joint Qualification System for suppliers to the Oil Industry in Norway and Denmark

- FPAL – Qualification System for suppliers to the Oil Industry in Western Europe

EPIM

- JQS – qualification of suppliers to the Operators on the Norwegian Continental Shelf (NCS)

Organisation & location

The Knutsen group is in general organized with Single Purpose Ship-owning Companies. To ensure safe- and effective operation of the vessels, Management and Operation are organized through Knutsen OAS Shipping AS and KNOT Management AS.

Trygve Seglem controls the Knutsen group through TS Shipping Invest AS. The shuttle tanker fleet (KNOT) is controlled 50/50 by Trygve Seglem through TS Shipping Invest and NYK (Nippon Yusen Kaisha). The LNG fleet is controlled by Seglem through TS Shipping Invest AS and various investors such as NYK, Klaveness Marine, Hatteland, OMP and Cape Omega. The product tankers is owned and controlled by Trygve Seglem through TS Shipping Invest.

The main office is located in Haugesund, Norway. However, due to worldwide operation, Knutsen has established offices and branch offices around the world. With particular relevance for the LNG business and the commercial operation and crewing of LNG vessels, a separate company is established in Spain; Knutsen OAS España, S.A. The office is located in Madrid. In 2022 a new branch office was opened in Nantes called Knutsen LNG France SAS.

A crewing company has been established in Manila, Knutsen Philippines Inc, with the sole purpose of providing Knutsen Group with Filipino officers and ratings and other supporting services.

For the shuttle tanker operations in Brazil, KNOT has a branch office in Rio de Janeiro, KNOT Management do Brasil.

With particular relevance for the Danish flag registered shuttle tankers, an office is established in Copenhagen, Denmark, KNOT Management Denmark AS.

The Knutsen Group has in addition other offices in Aberdeen, Scotland, Knutsen OAS(UK) Ltd. An office in Riga Latvia, SIA Knutsen Eastern Europe, a joint venture in Newfoundland Canada with J.J. Ugland, Canship Ugland Ltd. and in Ghana Knutsen Shuttle Tankers Ghana Ltd.

History

1896

Mr. Knut Knutsen O.A.S. (Ole Andreas’ Son) established his own shipping company in Haugesund, Norway. The company developed into being the third largest tanker owner in Norway in the 1930’s and kept its strong position up to the 1970’s.

1980’s

After the shipping crisis in the late 1970’s and in the beginning of the 1980’s, the company was restructured, and Knutsen OAS Shipping AS was established in 1984 by Bergen Bank, the Knutsen family and Mr. Jens Ulltveit-Moe. Shortly after the company being established, Mr. Trygve Seglem was appointed Technical Director, became part owner, and was instrumental in the first shuttle tanker contracts. The Knutsen family and Bergen Bank subsequently sold their shares, and Mr. Ulltveit-Moe and Mr. Seglem became joint owners.

The first two Suezmax shuttle tankers with dynamic positioning systems were delivered in 1987.

1990’s

The Knutsen Group has since the early 1990’s been known for being in the forefront of maritime technological developments – particularly in the shuttle tanker segment along with our conservative strategy of advanced vessels on long term charters to first class charterers. Our customer base has and still is mainly the oil and energy companies.

The Knutsen group was the first to use the flexible coupling for bow loading operations in the North Sea and contributed with the development of the submerged turret loading system. The group became the first to use this system for direct shuttle tanker loading in 1994. Knutsen was also the first operator of a VOC recovery unit on a shuttle tanker.

During the 1990’s the Knutsen fleet grew to 10 shuttle tankers and 7 product and chemical tankers of which 8 vessels with ice class 1A. A new niche in shuttle tanker operations with 35 000 M3 vessels was also introduced to serve smaller oil fields in the North Sea. Knutsen was at that time already one of the leading shuttle tanker operators worldwide.

2000’s

In 2000 one of the large shuttle tankers, Jorunn Knutsen, was converted to a FSO directly after delivery from new building yard at Sestao Shipyard in Spain. Jorunn Knutsen was connected to the Åsgard C field as a floating storage and offloading unit the same year.

In year 2001, the first two LNG contracts were awarded, and by 2011 the LNG fleet comprised of four 138 000 M3 and four 173 400 M3 LNG carriers as well as the world’s smallest coastal LNG carrier: 1100 M3. The four 173.400 M3 TFDE LNG carriers were delivered in 2010.

By 2010 the total fleet had increased to 46 vessels in operation of which 22 shuttle tankers,15 product/chemical tankers and 9 LNG carriers.

2010’s

By 2010 Trygve Seglem was the sole owner of the Knutsen shuttle tanker fleet.

In December 2010 Knutsen joined forces with NYK (Nippon Yusen Kaisha) and established a new company, Knutsen NYK Offshore Tankers AS (KNOT), which at the time included 20 vessels in operation and 3 vessels under construction.

In 2013, Knutsen NYK Offshore Tankers (KNOT) established the limited partnership KNOT Offshore Partners LP (KNOP), with 4 shuttle tankers. The very same year, KNOP went public at NYSE (New York Stock Exchange).

At the end of 2018 KNOT has 15 shuttle tankers including 2 FSOs in operation and 3 vessels under construction. The stock-listed KNOP has in addition a fleet of 16 advanced shuttle tankers with a market capitalization of 600 million USD and an enterprise value of 2,2 billion USD.

By end of 2019 the LNG fleet has grown to 13 vessels in operation and 6 vessels under construction and in addition to 3 product/chemical tankers.

At the end of 2019 the total Knutsen fleet consists of 46 vessels in operation and 10 vessels under construction.

2020’s

During the start of the 2020’s Knutsen managed to secure a large number of new LNG contracts to Shell, PGNiG and ENGIE. The LNG fleet has grown to 15 vessels in operation and 15 vessels under construction.

In addition KNOT had 4 newbuildings shuttle tankers under construction at the beginning of the 2020. Two of these vessel are built with LNG propulsion and planned for operation in the North Sea.

At the end of 2021 KNOT has 11 shuttle tankers including 2 FSOs in operation and 3 vessels under construction. The stocklisted KNOP has in addition a fleet of 17 advanced shuttle tankers.