Working Conditions Aboard the Windsor-Knutsen

KNOT Offshore Partners LP has announced a significant time charter agreement with Brazil Shipping I Limited, an affiliate of BG Group, for their crude oil/shuttle tanker, named 'Windsor Knutsen'. This charter is set for an initial term of two years, aligning the hire rate with the existing terms of the current charter held with BG. The deal includes options to extend the charter for an additional three one-year periods, potentially allowing the Windsor Knutsen to serve BG Group until the end of 2020. The charter is expected to commence in the fourth quarter of 2015, with BG recently informing KNOT that the tanker will be redelivered at the end of July 2014 under the current charter terms. The company is actively working on plans to redeploy the Windsor Knutsen before the new charter with BG takes effect, ensuring continued service in Brazilian waters.