Knutsen NYK Offshore Tankers (KNOT) is the market leading independent owner and operator of shuttle tanker operator in the world. KNOT is a fully integrated industrial shipping company. This means that we control and manage our whole value chain of activities. That includes newbuilding, chartering, vetting, crewing, technical and commercial management, financing, procurement and general administration.
The company offers advanced shuttle tankers on long-term charters to first class charters. We are committed to operating our vessels safely in order to avoid any harm to our seamen or the environment.
KNOT is a joint venture by TS Shipping Invest (TSSI) and Nippon Yusen Kabushiki Kaisha (NYK). KNOT was established in 2010 following NYK’s acquisition of 50 per cent of the shuttle tanker fleet. TSSI is owned by CEO Trygve Seglem and his family. NYK is a Japanese public company and one of the largest shipping companies in the world with a fleet of more than 800 vessels.
In April 2013, KNOT spun-off its subsidiary KNOT Offshore Partners LP (KNOP) and was listed at New York Stock Exchange (NYSE). KNOP is a publicly traded limited partnership formed to own, operate and acquire shuttle tankers under long-term charters.
As of 31st December 2018, KNOP owns 16 specialized DP2 shuttle tankers. The fleet has been contributed to KNOP by acquisition of shuttle tankers with long-term contract from KNOT. KNOT has the technical and commercial management of these vessels. KNOT control KNOP through its ownership KNOP general partner and limited partner units.
Head office of KNOT is in Haugesund, Norway.
Knutsen believe that transparent and good corporate governance drives value creation through aligned stakeholders as well as company interests.
Knutsen’s core values are credibility, innovation and care. These values shall reflect our performance of the work including our relation to each other, our customers, suppliers and society in general. These values and commitments shall contribute to the foundation and further development of the confidence towards the company and clients.
The governing principles together with the Code of Conduct make up the foundation for governance in Knutsen.
Code of Conduct
The Code of Conduct defines the core legal and ethical standards and applies to all Knutsen directors, managers and other employees. It is the personal responsibility of each director, manager and other employee to duly respect all restrictions imposed by those laws, rules and regulations, including those relating to accounting and auditing matters.
Supplier code of conduct
The Supplier Code of Conduct defines the core legal and ethical standards we expect from all our suppliers, any subsidiary, other associated company or companies under management of KNOT Management are required to operate.
Membership of MACN – Maritime Anti-Corruption Network
Knutsen has been an active member of MACN – Maritime Anti-Corruption Network since 2014. This is a global business network working towards the vision of a maritime industry free of corruption that enables fair trade to the benefit of society at large.
Shipping is being subjected to ever-stricter environmental and safety requirements, and Knutsen have the objectives concerning a high quality of the operation of the vessels. The fleet consists of modern vessels of high technical standards.
Knutsen places considerable emphasis on safety and quality control, and strict requirements are put on safety and operation of the vessels. Knutsen has established overall guidelines to ensure that:
- The Knutsen activities shall be executed professionally and in accordance with national and international rules and regulations as well as internal and external standards and proactive actions shall be taken to avoid injuries, loss of life and material damages.
- The Knutsen operations shall be planned and attention shall be made on executing activities and operations so that the environmental consequences are minimized.
- The Knutsen HSSE & QA system, is in accordance with international requirements and standards, and the company maintains all necessary certificates for its operation of activities. KNOT Management AS has ISM certification from several flag-states and is further certified according to the international standards; ISO 9001:2015, ISO 14001:2015 and OHSAS 18001:2007.
Knutsen has an active approach regarding implementation of technology for reducing emissions to water and air.
The Health Safety and Environmental Policy of Knutsen OAS Shipping is as follows;
KNOT Management AS – Health, Safety & Environmental Policy Statement:
KNOT is committed to continuously strive for a safe working environment for all employees so that no personnel, visitors and others are injured or harmed during their employment or activities engaged by the Company.
KNOT is committed to deliver environmentally friendly services and products at a level of Quality, Health and Safety that complies with the requirements of our HSE&QA Management System, international & statutory regulations and meets or exceeds our contractual and legal obligations.
KNOT is committed to maintain comprehensive environmental management system; The system shall ensure that environmental objectives, requirements and considerations are integrated elements of the total activities of the Company. Further, it shall be ensured that the Company and vessel activities are planned, executed, verified, reported and analysed in a consistent and systematic manner and in compliance with legal and other requirements that the Company and vessels are subject to.
Our vision is 0 – ZERO – accidents and/or incidents, meaning:
- 0 personnel injuries
- 0 work related illnesses
- 0 spills to the environment
- 0 material damages
To achieve our commitment, Knutsen Offshore Tankers Management AS shall:
- Raise the competence of our employees through training and career development.
- Employ qualified and trained personnel.
- Meet or exceed all applicable laws and standards in all our operations.
- Identify risk, establish safeguards, including being prepared for any emergency and plan all operation based on experience and shared knowledge.
- Have an environmental program including continuous improvement of our effort to minimize the impact on the environment
- Use well-maintained equipment and safe and effective procedures.