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KNOT Offshore Partners (KNOP) is an MLP listed since 2013 operating vessels focusing on the shuttle tanker segment. These ships are designed to transport oil from offshore oil fields to onshore refineries, often from harsh climates (the North Sea and Russia) or specific remote locations (Brazil) where the construction of a pipeline is not a feasible option. Thus, shuttle tankers are also referred to as "floating pipelines": ships typically operate under a period charter, which is a non-volume-based contract. Most vessels are built according to the charterers' precise requirements and used