Norway: Knutsen NYK Offshore Tankers Enters Charter Agreement for New Shuttle Tanker

Knutsen NYK Offshore Tankers AS, of which NYK has a 50 percent share, has entered into a time-charter contract with Standard Marine Tønsberg AS, owned by ExxonMobil Exploration and Production Norway AS, for 10 years plus an option for a new built dynamic positioning 112,000 DWT offshore shuttle tanker  to service SMT for their North Sea offshore fields.

The vessel will be delivered to SMT in the first quarter of 2014.

The vessel will be built at Hyundai Heavy Industries in Ulsan and equipped with bow-loading equipment. The tanker will also be a dynamic-positioning system class 2  vessel in order to satisfy the stringent North Sea shuttle tanker requirements.

The NYK Group will continue its efforts to provide stable and economical energy-transport services.

Shuttle tanker

Also called a “floating pipeline,” a shuttle tanker loads crude oil from floating production, storage, and offloading (FPSO) units in deepwater fields while maintaining a certain distance in the ocean, and then transports the oil to crude-oil storage units or petroleum storage stations on land.