KNOT Offshore Partners posted $20.9m profit in the third quarter, down a tiny bit from the year prior.
The John Costain-led Scottish MLP said Monday its most recent quarterly profits fell $200,000 from the third quarter 2017.
Three new ships, the 156,000-dwt Lena Knutsen (built 2015), the 152,000-dwt Anna Knutsen (built 2017) and the 153,684-dwt Brasil Knutsen (built 2013), brought in an additional $5m in earnings but the financing costs from buying those ships — plus refinancing other ships and facilities — totaled $5.2m.
