A surprisingly high price for the sale of two older vessels helped Norway's Knutsen NYK Offshore Tankers (KNOT) improve its results last year.
The Haugesund-based company, a joint venture between Knutsen OAS Shipping of Norway and NYK Line of Japan, reported a pre-tax profit of $16.4m for 2020. That reverses a loss of $5.2m in 2019.
KNOT is a leading player in the shuttle tanker business, expanding its business with newbuildings with long-term charters to oil companies.
