Brief: Knot Offshore Says Underlying Business Continued To Perform Well In Q1

KNOT Offshore Partners LP

07/04/2020 23:26

April 7 (Reuters) - Knot Offshore Partners LP  KNOP.N :
    * NOTWITHSTANDING GLOBAL IMPACT OF COVID-19 VIRUS & DECLINE
IN OIL
PRICES, PARTNERSHIP HAS NOT EXPERIENCED ANY MATERIAL CHANGES IN
ITS OPERATIONS SINCE FILING OF ITS ANNUAL REPORT ON MARCH 19,
2020
    * PARTNERSHIP’S UNDERLYING BUSINESS CONTINUED TO PERFORM
WELL IN
Q1 2020
    * PARTNERSHIP’S VESSELS OPERATED THROUGHOUT Q1 2020 WITH
99.6%
UTILIZATION FOR SCHEDULED OPERATIONS
    * PARTNERSHIP’S VESSELS OPERATED THROUGHOUT Q1 2020 WITH
95.2%
UTILIZATION TAKING INTO ACCOUNT SCHEDULED 5-YEAR SPECIAL SURVEY
DRYDOCKING OF RAQUEL KNUTSEN
    * RAQUEL KNUTSEN WENT BACK ON CHARTER ON MARCH 5
    * THERE ARE NO FURTHER SCHEDULED DRYDOCKINGS FOR ANY OF
PARTNERSHIP’S FLEET FOR REMAINDER OF 2020
    * DUE TO INTERNATIONAL TRAVEL RESTRICTIONS PARTNERSHIP HAS
SUSPENDED CREW CHANGES, CREW MOVEMENTS FOR A PERIOD OF TIME
    * DUE TO INTERNATIONAL TRAVEL RESTRICTIONS PARTNERSHIP HAS
POSTPONED ALL NON-ESSENTIAL SERVICES
    * DUE TO NATURE OF ITS CHARTERS, PARTNERSHIP’S OPERATIONS
ARE NOT
EXPOSED TO SHORT-TERM FLUCTUATIONS IN OIL PRICES
    * DUE TO NATURE OF ITS CHARTERS, PARTNERSHIP’S OPERATIONS
ARE NOT
EXPOSED TO VOLUME OF OIL TRANSPORTED OR GLOBAL OIL STORAGE

Source text: (https://bit.ly/2wserr2)
Further company coverage:  KNOP.N 

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