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TS Shipping Invest, which is the holding company of the maritime activities of the Trygve Seglem family, revealed this in its annual report posted on the Knutsen website last week.
TSSI and its subsidiaries own and operate vessels worldwide with market positions in the shuttle tanker segment, through Knutsen NYK Offshore Tankers (KNOT), a 50/50 joint venture with NYK, and in the LNG carrier segment, through wholly-owned Knutsen LNG.
“With the advanced LNG fleet and substantial contract coverage, the group is well positioned to further build its leading market presence in its segments,” the group said in th report.
The group expects to expand the firm contracted revenue backlog that as of the end od 2025 stood at $15 billion covering 68 vessels and 22 vessels under construction.
TSSI “actively works on a number of new projects” through KNOT for offshore loading
tankers, through KOAS for LNG carriers, through KNCC for CO2 carriers, through Deep Wind
Offshore for offshore wind, as well as projects for the emission treatment system and the new ballast water teatment system.
The group also noted that the ongoing conflict in Iran has “escalated following large-scale attacks carried out by the United States and Israel, which started on February 28, 2026.”
“We are continuously monitoring developments closely; currently the situation has no impact on our revenue. One LNG carrier vessel is inside the Hormuz strait and will not leave before safe passage is possible,” it said.
One LNG vessel available for charter
Knutsen’s LNG portfolio includes 50 vessels in total, 37 on the water and 13 under construction.
According to the group, six LNG carriers on 15‑year contracts with Qatar are scheduled for delivery in 2026, followed by an additional seven vessels to be delivered in 2028 and 2029.
All vessels currently in operation are employed under long‑term time‑charter contracts, while one LNG vessel under construction has not yet been fixed on a time charter and remains available for employment, it said.
Of the 37 LNG carriers in operation at year-end 2025, seven are owned 100 percent, while nine are jointly owned 50/50 with NYK through Knutsen NYK LNG (KNLH).
Further partnerships are with Klaveness Group (three vessels), Ocean Yield (eight vessels), Hav Energy, an Apollo company (four vessels), OMP, an EnTrust company (one vessel), Enagas through ScaleGas (one vessel), the Hatteland Group (two vessels), and jointly Klaveness Group and Hatteland Group (two vessels).
In 2025, Knutsen took delivery of eight large LNG carriers built at Korean shipyards, all commencing long‑term contracts, including two with Orlen, one with Shell, one with Engie, and four with QatarEnergy.
Edison, SEFE, Eni, Equinor, and QatarEnergy
The group ordered seven additional modern LNG vessels, each with a
capacity of 174,000 cbm, in December last year, increasing the number of LNG carriers under construction from six to thirteen.
These vessels are being built at Hyundai Heavy Industries (six units) and Hanwha Ocean
(seven units) in South Korea, with deliveries scheduled between 2026 and 2029.
Six vessels are set for delivery in 2026, four in 2028, and three in 2029.
Of the 37 vessels currently on the water, the fleet consists of three LNG bunkering/feeder vessels, one FSU, three steam turbine vessels, four TFDE vessels, and 26 two-stroke vessels.
Of the 13 vessels currently on order, one will enter a long-term charter with Edison, one will enter a 10-year charter with SEFE, and one a 10-year charter with Eni.
Three vessels will operate under 10-year firm time charter contracts with Equinor, while six vessels are backed by 15-year firm time charter agreements with QatarEnergy.