KNOT Offshore Partners LP reported its financial results for the first quarter of 2025, revealing total revenues of $84.0 million, a decrease from the $91.3 million recorded in the fourth quarter of 2024. This variation in revenues was influenced by $5.9 million in one-off insurance proceeds included in the previous quarter. The company achieved an operating income of $23.4 million and a net income of $7.6 million for Q1 2025. Adjusted EBITDA was reported at $52.2 million. Significant updates in business operations include the acquisition of the shuttle tanker _Live Knutsen_ and the sale of _Dan Sabia_, marking a vessel swap within the company's fleet. Additionally, the _Hilda Knutsen_ commenced a one-year time charter with Shell on March 23, 2025. The _Brasil Knutsen_ will continue operations with Petrorio until September 2025, after which it will begin a time charter with Equinor. The company has secured approximately 96% of charter coverage for the remaining quarters of 2025 and about 75% for 2026, enhancing its future revenue visibility.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.