Knutsen NYK Offshore Tankers (KNOT) has again written down the value of a 19-year-old shuttle tanker that has been at the centre of a conversion project.
KNOT's results for 2018, which have just become public, show the company had writedowns of $29.1m last year, mainly on the 123,000-dwt Hanne Knutsen (built 2000).
The writedown — the third year in a row — came as the Norwegian bowloader owner was working to convert the Hanne Knutsen to a storage tanker at Remontowa Shiprepair Yard in Gdansk, Poland.
