Knutsen Group

What Knutsen Group does

Knutsen Group is a privately held, fully integrated Norwegian shipping company founded in 1896 in Haugesund, controlled by Trygve Seglem through TS Shipping Invest AS. The group operates three core shipping segments: Knutsen NYK Offshore Tankers (KNOT), a 50/50 joint venture with NYK Line that is the world's largest independent shuttle tanker operator and operator of two FSOs; Knutsen LNG, a global LNG carrier business operating membrane-type vessels of 138,000-180,000 m3 plus small-scale and bunker units; and Knutsen OAS Shipping, which manages product/chemical tankers and provides in-house technical and commercial ship management. The group's LNG portfolio reached 50 vessels including 13+ under construction as of May 2026, with nine additional carriers ordered at Hanwha Ocean for late-2029 delivery, and the broader fleet carried an insurance value of $5.6 billion with a forward time charter backlog of $6.1 billion at end-2018.

Revenue is generated primarily through long-term time charter contracts (typically 5-15 years) directly negotiated with first-class charterers including Shell, Equinor, Eni, TotalEnergies, Exxon, Edison, Qatar Energy, Engie, SEFE, ConocoPhillips, Petrobras/Transpetro, Repsol, PGNiG, and others. Knutsen differentiates through four proprietary technologies — KVOC (VOC emissions reduction), KBAL (chemical-free ballast water treatment, type-approved by DNV GL, Lloyd's Register, ABS, USCG, IMO), PNG (compressed natural gas at 250 barg), and PCO2 (liquefied CO2 transport at ambient temperatures, DNV Approval in Principle). The latter underpins the Knutsen NYK Carbon Carriers (KNCC) 50/50 JV with NYK, established January 2022 to commercialize CO2 shipping for the CCS value chain. Capital structure combines private family control via TS Shipping Invest AS with public capital access through NYSE-listed KNOT Offshore Partners (KNOP), which was spun off from KNOT in 2013.

Name

Knutsen Group

Legal name

Knutsen OAS Shipping AS

Website

https://knutsenoas.com

Company type

Private

Founded year

1896

Operating status

Operating

Headcount range

51–100 employees

Short description

Knutsen Group is a privately held Norwegian integrated shipping company operating the world's largest independent shuttle tanker fleet (via the KNOT JV with NYK), a global LNG carrier business of 50 vessels, and product/chemical tankers, serving investment-grade energy majors through 5-15 year time charters and commercializing proprietary CO2, ballast water, and emissions-reduction technologies.

Ownership category

akta.pro rank

Product category

Maritime Shipping Services

NAICS

Petroleum Bulk Stations and Terminals (424710), Oil and Gas Field Machinery and Equipment Manufacturing (333132)

SIC

Wholesale-Petroleum Bulk Stations & Terminals (5171), Oil & Gas Field Machinery & Equipment (3533)

akta.pro primary industry

Refined Products Terminals (Gasoline, Diesel, Jet, Heating Oil) (EUALAEAB)

akta.pro secondary industries

NGL / LPG Storage & Terminals (Propane, Butane, Ethane, Y-Grade) (EUALAEAC), Tank Leasing & Third-Party Storage Operators (EUALAEAF), Marine Terminals & Port Storage (Jetties, Docking, Bunkering Interfaces) (EUALAEAG)

Keywords

• Shuttle tanker operations
• LNG carrier services
• Offshore oil transportation
• Ballast water treatment
• Ship management services

Headquarters

HQ city

Haugesund

HQ country

Norway

HQ region

Europe

Offices8 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Infrastructure, Supply Chain, Technology or R&D, Others

Revenue model

1. Shuttle Tanker Operations: Long-term time charter contracts for shuttle tankers operating in offshore oil fields, including dynamic positioning operations for bow loading and FPSO services. KNOT operates as the world's leading independent shuttle tanker operator.
2. LNG Carrier Operations: Long-term charter agreements for LNG transportation serving major energy companies. Fleet of membrane-type LNG carriers with capacities of 173,400-180,000 m3 operating globally.
3. Technology Licensing: Licensing of proprietary technologies including KBAL ballast water treatment systems, KVOC emissions reduction, and PNG compressed gas technology to other vessel operators.
4. Ship Management Services: Technical and commercial ship management, crewing, administrative support, and newbuilding supervision services provided to fleet operations and joint venture entities.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels3 records

Core offering

Knutsen Group is a fully integrated shipping company providing long-term time charter transportation services for crude oil, LNG, refined petroleum products, and chemicals. The group operates shuttle tankers, LNG carriers, product/chemical tankers, and FSO vessels worldwide, and develops proprietary maritime technologies (KVOC, KBAL, PNG, PCO2) for emissions reduction, ballast water treatment, and CO2 transportation.

Product overview

Knutsen Group is a fully integrated shipping company comprising multiple business segments operating as a unified portfolio. The core business includes Knutsen NYK Offshore Tankers (KNOT) as the world's leading shuttle tanker operator, KNOT Offshore Partners LP (KNOP) as the NYSE-listed MLP subsidiary, and Knutsen LNG for liquefied natural gas carriers. Knutsen OAS Shipping handles product/chemical tankers and ship management, while Knutsen NYK Carbon Carriers (KNCC) focuses on CO2 transportation. The group also operates FSO vessels and has developed proprietary technologies including KBAL® ballast water treatment, KVOC® for VOC reduction, PNG® for compressed natural gas, and PCO2® for ambient-temperature CO2 transport. The fleet consists of shuttle tankers, LNG carriers, product/chemical tankers, and specialized offshore vessels, all managed with in-house technical, commercial, and project development capabilities.

Differentiator

Problem solved

Functional benefit

Quantifiable outcome

• 97.2% utilization for scheduled operations
• +3 more outcomes

Named customers12 records

Segments3 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature5 records

Partnerships

Eleven partnerships are on record, tiered core, major and strategic.

• Hanwha OceancoreStrategic or Co-development Partner · 1 May 2026Shipbuilding partnership for LNG carrier construction. Knutsen linked to US$250M contracts for LNG carrier construction with delivery in late 2029. Expanded order to nine LNG carriers at Hanwha Ocean shipyard in Geoje, South Korea.
• ConocoPhillipsmajorChannel Partner/ Reseller/ Distributor · 1 May 2026Added to list of charterers for Knutsen's on-order LNG ships, joining previously announced charterers Eni and Edison. Long-term charter commitment for newbuild LNG carriers.
• Chiyoda CorporationstrategicStrategic or Co-development Partner · 31 March 2026Tripartite partnership with NYK Line and KNCC to jointly pursue global carbon capture and storage (CCS) projects. Memorandum of understanding signed March 2026 covering concept studies to EPC for CCS value chain expansion in Japan and overseas.
• EdisoncoreChannel Partner/ Reseller/ Distributor · 1 December 2025Italian energy company Edison chartered one LNG carrier under 12-year contract for small-scale Mediterranean operations with 30,000 cbm capacity vessel Ravenna Knutsen. Expanded partnership with new 174,000 cbm LNG carrier charter signed December 2025.
• EquinorcoreChannel Partner/ Reseller/ Distributor · 1 December 2025Norwegian energy company Equinor chartered three new LNG carriers under long-term agreements as part of Knutsen's fleet expansion with Hanwha Ocean.
• SEFE Marketing and TradingmajorChannel Partner/ Reseller/ Distributor · 1 December 2025German energy company SEFE Marketing and Trading chartered one new LNG carrier under long-term agreement as part of Knutsen's December 2025 newbuilding program.
• EnicoreChannel Partner/ Reseller/ Distributor · 1 December 2025Italian energy company Eni chartered one LNG carrier under long-term agreement as part of Knutsen's six newbuilding contracts signed in December 2025.
• Lloyd's Register (LR)strategicTechnology or Integration · 1 June 2023Joint Development Project with HD KSOE and HHI for industry-first cradle-to-grave lifecycle assessment of LNG carrier measuring carbon emissions across all scopes (1, 2, and 3) from raw material extraction to vessel recycling.
• KNCC (Knutsen NYK Carbon Carriers)coreStrategic or Co-development Partner · 1 January 2022Joint venture between Knutsen Group and NYK for commercial development of liquefied CO2 marine transportation and storage business worldwide using PCO2 technology. 50/50 ownership. CEO Anders Lepsøe leads the company based in Haugesund, Norway.
• ShellcoreChannel Partner/ Reseller/ Distributor · 1 December 2019Shell signed agreements for four LNG carriers with Knutsen LNG affiliates. State-of-the-art 174,000 cbm vessels built by Hyundai Heavy Industries with dual-fuel X-DF engines, boil-off management plants, air lubrication systems and shaft generators.
• NYK (Nippon Yusen Kaisha)coreStrategic or Co-development Partner · 1 December 2010Joint venture established December 2010 where NYK acquired 50% of the shuttle tanker fleet. Created Knutsen NYK Offshore Tankers AS (KNOT) with 20 vessels at inception. KNOT spun-off KNOT Offshore Partners LP (KNOP) listed on NYSE in 2013. In 2022, extended partnership to include Knutsen NYK Carbon Carriers (KNCC) for CO2 transportation business, each holding 50% stake.

Scale indicators9 records

Recent moves9 records

Expansion highlights6 records

Direct peers

• Gaslog: LNG carrier operator with long-term charters to major energy companies; comparable vessel sizes and customer mix to Knutsen LNG, including participation in small-scale LNG logistics.
• Teekay Corporation: Direct competitor in shuttle tankers (Teekay Shuttle Tanker Operations) and significant LNG exposure through Teekay LNG Partners. Closely mirrors Knutsen's mix of offshore shuttle and LNG long-term charters with similar oil-major customer base.
• Höegh LNG: Norwegian-based LNG carrier operator with focus on long-term charters to LNG majors, overlapping directly with Knutsen LNG's large-scale carrier book and small-scale LNG segment served by vessels like the Edison-chartered 30,000 cbm carrier.
• Flex LNG: Pure-play large-scale LNG carrier operator with latest-generation, fuel-efficient 173,000–180,000 m³ vessels, directly competing with Knutsen LNG for similar long-term charters from energy majors and trading houses.
• BW LNG: Part of the BW Group (Berge Bulk parent of Knutsen technology licensing counterpart BW LPG historically); a leading LNG carrier operator with a similar long-term-charter model and large-vessel focus overlapping with Knutsen LNG.
• Stolt-Nielsen: Oslo-listed global leader in chemical and product tankers with parcel-tanker fleet and deep-sea logistics; directly comparable to Knutsen's product/chemical tanker segment under Knutsen OAS Shipping.
• Odfjell: Norwegian-headquartered chemical/parcel tanker specialist with advanced cargo handling capabilities, comparable to Knutsen's product and chemical tanker offering and similar European customer base.

Broad incumbents

• Avance Gas: Largest VLGC (NGL/LPG) carrier and adjacent petrochemical gas tonnage provider; overlaps with Knutsen's Knutsen LNG small-scale gas carrier / NGL value chain, including the in-development compressional-gas and CO2 transport platform.
• Euronav: Large crude/oil tanker operator with VLCC and Suezmax exposure overlapping with Knutsen's shuttle tanker and Suezmax heritage; participates in oil-major long-term charters.
• Frontline: Major product/crude tanker operator with established long-term relationship to oil majors; comparably broad marine transportation exposure that overlaps Knutsen's product tanker and shuttle tanker businesses.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks7 records

Key highlights7 records

Customer concentration

Compliance9 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles14 records

Subsidiaries12 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Knutsen Group