KNOT Offshore Partners (KNOP) will not pursue the acquisition of the shuttle tankers Frida Knutsen and Sindre Knutsen from sponsor Knutsen NYK Offshore Tankers, the company said Wednesday.

The company said its Conflicts Committee found the vessels unsuitable due to a lack of long-term fixed or guaranteed charters, while negotiations for the Hedda Knutsen are ongoing.

Under its agreement with Knutsen NYK, either rejected vessel would be offered to KNOP again only if it secures a fixed charter contract lasting at least five years, it added.