Fourth Quarter 2014 Results. February 17, 2015
|
|
- Ralph Woods
- 5 years ago
- Views:
Transcription
1 Fourth Quarter 2014 Results February 17, 2015
2 Notice to Recipients This presentation is not a prospectus and is not an offer to sell, nor a solicitation of an offer to buy, securities. Except for the historical information contained herein, the matters discussed in this presentation include forward-looking statements that involve risks and uncertainties. These risks and uncertainties include, among other things, market conditions and other factors that are described in KNOT Partners filings with the U.S Securities and Exchange Commission, which are available on the SEC s website at Nevertheless, new factors emerge from time to time, and it is not possible for KNOT Partners to predict all of these factors. Further, KNOT Partners cannot assess the impact of each such factor on its business or the extent to which any factor, or combination of factors, may cause actual results to be materially different from those contained in any forward-looking statement. KNOT Partners expressly disclaims any intention or obligation to revise or publicly update any forward-looking statements whether as a result of new information, future events or otherwise. The forward-looking statements contained herein are expressly qualified by this cautionary notice to recipients. 2
3 Highligts & Recent Events For the fourth quarter of 2014, KNOT Offshore Partners L.P. (the Partnership ): Generated net income of $5.9 million and operating income of $15.9 million Generated Adjusted EBITDA (1) of $26.5 million and Generated Distributable cash flow (1) of $15.1 million Net income in Q4-14 was affected by $4.2 million unrealized derivative losses and a $1.0 million realized loss In November 2014, the Partnership finalised the refinancing of Fortaleza Knutsen and Recife Knutsen On December 15, the Partnership acquired the company owning the shuttle tanker Dan Cisne (59,000 dwt, built 2011) from Knutsen NYK Offshore Tankers («KNOT»). Dan Cisne is operating under a 12 year bareboat contract with Transpetro In January 2015, KNOT entered into a new long term timecharter and ordered a shuttle tanker at Cosco Zhousan, China for delivery in Q1-17. This increases the Partnership s number of defined vessels eligible for acquisition to six units. On February 2, Mr. Arild Vik, CEO/CFO, decided to step down. Mr. Vik will be availaible for the Partnership through July 2015 In February 2015, the Partnership paid a Q4-14 cash distribution of $ 0.49 per unit corresponding to an annual distribution of $1.96 per unit (1) Adjusted EBITDA and Distributable cash flow are non-gaap financial measures. Please see page 6 and 7 for definitions. 3
4 Summary unaudited condensed consolidated and combined carveout statement of operations Vessel operation in line with forecast 99.6% uptime (1.9 days offhire) Revenues include a non-cash item of approx. $0.9 million for Q4-14 and Q3-14 A non-cash item of approx. $0.5 million for Q4-13 Derivatives include: a realized loss of $1.0 million an unrealized loss of $4.2 million (USD in thousands) Three months Ended December 31, 2014 (unaudited) Three months Ended December 31, 2013 (unaudited) Three months Ended September 30, 2014 (unaudited) Time charter and bareboat revenues 34,655 22,216 34,247 Other income Total revenues 34,683 22,216 34,265 Vessel operating expenses 7,357 4,427 7,601 Depreciation and amortization 10,559 6,785 10,201 General and administrative expenses 832 1, Total operating expenses 18,748 12,213 18,789 Operating income 15,935 10,003 15,476 Finance income (expense): Interest income Interest expense -4, ,014 Other finance expense Realized/ unrealized gain on derivative instruments -5, ,128 Net gain (loss) on foreign currency transactions Total finance expense -10, ,914 Income (loss) before income taxes 5,923 7,791 12,562 Income tax benefit (expense) Net income (loss) attributable to KNOT Offshore Partners LP Owners 5,908 7,902 12,563 Weighted average units outstanding (in thousands): Common units ,567, Subordinated units ,567,500 8,567,500 General Partner units 456, , ,558 4
5 Summary Unaudited Condensed Consolidated and combined carve-out Balance sheet Total unrestricted cash of $30.7 million Interest bearing debt at $613.2 million Average credit margin paid in Q4-14 was 2.4% Repayment profile 15.8 years Completed $140 million refinancing of Fortaleza Knutsen and Recife Knutsen Repayment profile 19 yrs with balloon in 2019 $382.3 million of the Libor interest rate risk is secured through interest swaps Average duration is 4.5 years Fixed payable rates are between 1.25% and 2.42% with an average rate of 1.47% Debt Repayments ($m) Instalments Balloon ,7 0, ,0 0, ,3 0, ,4 136, ,1 269, ,0 6,5 200,6 412,6 (USD in thousands) At December 31, 2014 (unaudited) At December 31, 2013 (Audited) ASSETS Current assets: Cash and cash equivalents Restricted cash 458 Derivative assets 248 Other current assets Long-term assets: Vessels and equipment Goodwill Deferred debt issuance cost Derivative assets Total assets LIABILITIES AND PARTNERS EQUITY/OWNER S CAPITAL Current liabilities: Current installments of long-term debt Derivative liabilities Contract liabilities Income taxes payable Amount due to related parties Other current liabilities Long-term liabilities: Long-term debt, excluding current installments Long-term debt from related parties Derivative liabilities Contract liabilities Deferred tax liabilities Other long-term liabilities Total liabilities Partner's capital Common unitholders Subordinated unitholder General Partner interest Total Partner s capital Total liabilities and equity
6 Distributable cashflow (USD in thousands) Distributable Cash Flow ( DCF ) Three months Ended December 31, 2014 (unaudited) Three months Ended September 30, 2014 (unaudited) Net income Add: Depreciation and amortization Other non-cash items; deferred costs amortization debt Unrealized losses from interest rate derivatives and forward exchange currency contracts Less: Estimated maintenance and replacement capital expenditures (including drydocking reserve) Deferred revenue Unrealized gains from interest rate derivatives and forward exchange currency contracts Distributable cash flow (A) Total distributions (B) Coverage ratio (A/B) 1,32x 1,28x Distributable cash flow represents net income adjusted for depreciation and amortization, unrealized gains and losses from derivatives, unrealized foreign exchange gains and losses, other non-cash items and estimated maintenance and replacement capital expenditures. Estimated maintenance and replacement capital expenditures, including estimated expenditures for drydocking, represent capital expenditures required to maintain over the long-term the operating capacity of, or the revenue generated by our capital assets. Distributable cash flow is a quantitative standard used by investors in publicly-traded partnerships to assist in evaluating a partnership s ability to make quarterly cash distributions. Distributable cash flow is a non-gaap financial measure and should not be considered as an alternative to net income or any other indicator of KNOT Offshore Partners performance calculated in accordance with GAAP. The table below reconciles distributable cash flow to net income, the most directly comparable GAAP measure. 6
7 Adjusted EBITDA (USD in thousands) Three months Ended December 31, 2014 (unaudited) Three months Ended September 30, 2014 (unaudited) Net income Interest income -9 0 Interest expenses Depreciation and amortization Income tax (benefits) expense 15-1 Realized/ unrealized loss (gain) on derivative instruments and net loss (gain) on foreign currency Adjusted EBITDA Adjusted EBITDA refers to earnings before interest, other financial items, taxes, non-controlling interest, depreciation and amortization. Adjusted EBITDA is a non-gaap financial measure used by investors to measure our performance. The Partnership believes that Adjusted EBITDA assists its management and investors by increasing the comparability of its performance from period to period and against the performance of other companies in its industry that provide Adjusted EBITDA information. This increased comparability is achieved by excluding the potentially disparate effects between periods or companies of interest, other financial items, taxes and depreciation and amortization, which items are affected by various and possibly changing financing methods, capital structure and historical cost basis and which items may significantly affect net income between periods. The Partnership believes that including Adjusted EBITDA as a financial measure benefits investors in (a) selecting between investing in the Partnership and other investment alternatives and (b) monitoring the Partnership s ongoing financial and operational strength in assessing whether to continue to hold common units. Adjusted EBITDA is a non-gaap financial measure and should not be considered as an alternative to net income or any other indicator of Partnership performance calculated in accordance with GAAP. The table below reconciles Adjusted EBITDA to net income, the most directly comparable GAAP measure. 7
8 Long-term Contracts Backed by Leading Energy Companies KNOT Offshore Partners - Owned fleet Name Area Windsor Knutsen (1) Brazil 2 Bodil Knutsen (1) N. Sea 3 Fortaleza Knutsen Brazil 4 Recife Knutsen Brazil 5 Carmen Knutsen Brazil 6 Hilda Knutsen N. Sea 7 Torill Knutsen N. Sea 8 Dan Cisne Brazil KNOP fleet has average remaining fixed contract duration of 5.3 years Note: Remaining contract life is calculated as of 12/31/2014. (1) KNOT has guaranteed revenue level to April 2018 (five years from IPO date) 8
9 Knutsen NYK Offshore Tankers (KNOT) ordered one new shuttle tanker in January KNOT enters into a new contract for shuttle tanker Vessel Size (dwt) Construction Delivery Employment Term Int Oil Co I dwt Cosco Chousan, China Q1-17 Timecharter Int Oil Co. Up to 20 years In January 2015, KNOT entered into new long term charter with an international oil company to provide shuttle tanker services in Brazil The contract will be serviced by one Suezmax size DP II newbuilding to be constructed at Cosco Chousan, China. The vessel will commence operations under long term charter when delivered late Q If all options are exercised, term of timecharter could be up to 20 years When on the water and on contract, KNOT Offshore Partners LP will have the option to acquire the vessel 9
10 Dropdown inventory: Six potential acquisitions KNOT Offshore Partners - Potential acquisitions Name Area (3) Ingrid Knutsen N. Sea 2 Raquel Knutsen Brazil 3 Dan Sabia Brazil 4 BG Group I Brazil 5 BG Group II Brazil 6 Internat. Oil Co. Brazil Fixed contract periods for the dropdown fleet are 7.0 years in average 14.0yrs including options 10
11 Petrobras production capacity is being ramped up Source: Petrobras Investor presentation June 2014, 11
12 Petrobras 29Jan2015 (old management s last presentation): 12
13 From BG Investor update Februry 2015, slide 10: 13
14 From BG Investor update February 2015, slide 11: 14
15 BG Investor update February 2015, slide 12: 15
16 Effects of lower oil price on Knutsen Offshore Partners Existing projects continuing Very low lifting cost ($ 8-15 per barrel) and with former investments being sunk cost, existing production is profitable and demands shuttle services as planned Discussions for new shuttle tankers with delivery from 2017 onwards continues The board expects new contracts for shuttle tanker services within this year KNOT has been successful in winning new long term contracts both in September and now latest in January confirming the underlying need for these services even at current oil prices We are revising our long term growth scenario Brazil: existing projects on stream in 2015/ 2016/ 2017 Pre-salt basin is strategic core for Petrobras/ Brazil and cashflow will be prioritized Break-even oil prices below US shale production and robust Consensus is some delays in ambitious plans from 2018 and onwards. Europe: delaying northern part of Norway. Still shuttle tanker growth from replacement 16
17 Q3-14: Full effect of the Hilda Knutsen and Torill Knutsen acquisitions KNOT Offshore Partners LP Q2-13 Q3-13 Q4-13 Q1-14 Q2-14 Q3-14 Q4-14 Selected Quarterly Figures Revenues $ million 17,3 20,5 22,2 21,8 22,1 34,3 34,7 Operating income $ million 7,4 9,4 10,0 9,4 9,6 15,5 15,9 Net Income $ million 4,5 6,4 7,9 6,4 2,5 12,6 5,9 EBITDA, adjusted* $ million 12,7 15,7 16,8 16,1 16,3 25,7 26,5 Distributable cashflow* (A) $ million 7,7 9,3 9,8 9,2 8,1 14,7 15,1 Distributions (B) $ million 5,5 7,6 7,6 7,6 9,7 11,5 11,5 Coverage ratio (A)/(B) x 1,41x 1,22x 1,28x 1,20x 0,84x 1,28x 1,32x Distributions/ common unit $/unit 0, ,435 0,435 0,435 0,435 0,490 0,490 Units, issued average # million 17,5 17,5 17,5 17,6 22,7 22,8 Units issued, end # million 17,5 17,5 17,5 17,5 22,2 22,8 22,8 # vessels, average # 4,0 4,7 5,0 5,0 5,0 7,0 7,2 # vessels, end # 4,0 5,0 5,0 5,0 7,0 7,0 8,0 Offhire days 0,0 3,4 3,5 2,7 1,5 7,4 1,9 Offhire % of Timecharter days % 0,0% 1,4% 1,3% 1,0% 0,5% 1,6% 0,4% * See definitions of these non-gaap financial measures on Page 6 and Page 7 Operation has been better than forcasted since the IPO Earnings on the EBITDA level has been stable for comparable fleet Coverage ratio consistently high Dip in Q distribution to newly issued units without corresponding earnings (1,11x in Q2-14 excluding new units) 17
18 Distribution for Q4-14 will be up 31%* from MQD Management has recommended to the board an increase in Q1-15 distribution of between $0.010 and $0.015 following the Dan Cisne acquisition in December 2014 At the IPO in April 2013, the Partnership expected a distribution growth averaging 10% to 15% annually in the first three years period 18
19 Thank you, any questions?
20 Appendix 1, Fleet details 20
First Quarter 2014 Results. May 14, 2014
First Quarter 2014 Results May 14, 2014 Notice to Recipients This presentation is not a prospectus and is not an offer to sell, nor a solicitation of an offer to buy, securities. Except for the historical
More informationThird Quarter 2014 Results. November 7, 2014
Third Quarter 2014 Results November 7, 2014 Notice to Recipients This presentation is not a prospectus and is not an offer to sell, nor a solicitation of an offer to buy, securities. Except for the historical
More informationFourth Quarter 2016 Results. New York City, February 15, 2017
Fourth Quarter 2016 Results New York City, February 15, 2017 Notice to Recipients This presentation is not a prospectus and is not an offer to sell, nor a solicitation of an offer to buy, securities. Except
More informationFirst Quarter 2016 Results. May 11, 2016
First Quarter 2016 Results May 11, 2016 Notice to Recipients This presentation is not a prospectus and is not an offer to sell, nor a solicitation of an offer to buy, securities. Except for the historical
More informationThird Quarter 2015 Results. November 5, 2015
Third Quarter 2015 Results November 5, 2015 Notice to Recipients This presentation is not a prospectus and is not an offer to sell, nor a solicitation of an offer to buy, securities. Except for the historical
More informationSecond Quarter 2017 Results. August 10, 2017
Second Quarter 2017 Results August 10, 2017 Notice to Recipients This presentation is not a prospectus and is not an offer to sell, nor a solicitation of an offer to buy, securities. This presentation
More informationThird Quarter 2018 Results November 27, 2018
Third Quarter 2018 Results November 27, 2018 Notice to Recipients This presentation is not a prospectus and is not an offer to sell, nor a solicitation of an offer to buy, securities. This presentation
More informationSecond Quarter 2018 Results September 5, 2018
Second Quarter 2018 Results September 5, 2018 Notice to Recipients This presentation is not a prospectus and is not an offer to sell, nor a solicitation of an offer to buy, securities. This presentation
More informationRBC Capital Markets' MLP Conference. Dallas November 2015
RBC Capital Markets' MLP Conference Dallas November 2015 Notice to Recipients This presentation is not a prospectus and is not an offer to sell, nor a solicitation of an offer to buy, securities. Except
More informationFirst Quarter 2017 Results. May 17, 2017
First Quarter 2017 Results May 17, 2017 Notice to Recipients This presentation is not a prospectus and is not an offer to sell, nor a solicitation of an offer to buy, securities. This presentation contains
More informationKNOT Offshore Partners LP (Translation of registrant s name into English)
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 6-K REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16 UNDER THE SECURITIES EXCHANGE ACT OF 1934 For the month
More informationKNOT OFFSHORE PARTNERS LP EARNINGS RELEASE INTERIM RESULTS FOR THE PERIOD ENDED SEPTEMBER 30, 2017
Highlights KNOT OFFSHORE PARTNERS LP EARNINGS RELEASE INTERIM RESULTS FOR THE PERIOD ENDED SEPTEMBER 30, For the three months ended, KNOT Offshore Partners LP ( KNOT Offshore Partners or the Partnership
More informationFourth Quarter 2017 Results February 21, 2018
Fourth Quarter 2017 Results February 21, 2018 Notice to Recipients This presentation is not a prospectus and is not an offer to sell, nor a solicitation of an offer to buy, securities. This presentation
More informationFirst Quarter 2018 Results June 6, 2018
First Quarter 2018 Results June 6, 2018 Notice to Recipients This presentation is not a prospectus and is not an offer to sell, nor a solicitation of an offer to buy, securities. This presentation contains
More informationKNOT Offshore Partners LP (Translation of registrant s name into English)
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 6-K REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16 UNDER THE SECURITIES EXCHANGE ACT OF 1934 For the month
More informationKNOT OFFSHORE PARTNERS LP EARNINGS RELEASE INTERIM RESULTS FOR THE PERIOD ENDED MARCH 31, 2017
Highlights KNOT OFFSHORE PARTNERS LP EARNINGS RELEASE INTERIM RESULTS FOR THE PERIOD ENDED MARCH 31, 2017 For the three months ended March 31, 2017, KNOT Offshore Partners LP ( KNOT Offshore Partners or
More informationKNOT Offshore Partners LP (Translation of registrant s name into English)
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 6-K REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16 UNDER THE SECURITIES EXCHANGE ACT OF 1934 For the month
More informationMLPA Conference, Orlando. June, 2017
MLPA Conference, Orlando June, 2017 Notice to Recipients This presentation is not a prospectus and is not an offer to sell, nor a solicitation of an offer to buy, securities. This presentation contains
More informationKNOT OFFSHORE PARTNERS LP (Translation of registrant s name into English)
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 6-K REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13A-16 OR 15D-16 OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly
More informationFirst Quarter 2007 Earnings Presentation
T E E K A Y O F F S H O R E P A R T N E R S First Quarter 2007 Earnings Presentation May 11, 2007 www.teekayoffshore.com Forward Looking Statements This presentation contains forward-looking statements
More informationKNOT OFFSHORE PARTNERS LP (Translation of registrant s name into English)
Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 6-K REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13A-16 OR 15D-16 OF THE SECURITIES EXCHANGE ACT OF 1934
More informationEARNINGS RELEASE - INTERIM RESULTS FOR THE PERIOD ENDED SEPTEMBER 30, 2012
EARNINGS RELEASE - INTERIM RESULTS FOR THE PERIOD ENDED SEPTEMBER 30, 2012 Highlights Golar LNG Partners reports net income attributable to unit holders of $26.8 million and operating income of $43.5 million
More informationOFFSHORE PARTNERS Q EARNINGS PRESENTATION
TEEKAY TEEKAY OFFSHORE PARTNERS Q1-2015 EARNINGS PRESENTATION May 15, 2015 Forward Looking Statements This presentation contains forward-looking statements (as defined in Section 21E of the Securities
More informationFirst Quarter 2013 Earnings Presentation
First Quarter 2013 Earnings Presentation May 10, 2013 1 Forward Looking Statements This presentation contains forward-looking statements (as defined in Section 21E of the Securities Exchange Act of 1934,
More informationKNOT Offshore Partners LP
Second Quarter 2017 Earnings Conference Call CORPORATE PARTICIPANTS Chief Executive Officer Oystein Kalleklev - Chief Financial Officer 1 PRESENTATION Operator Good afternoon and good morning. Welcome
More informationEARNINGS RELEASE TEEKAY OFFSHORE PARTNERS REPORTS FIRST QUARTER RESULTS
4 th Floor, Belvedere Building, 69 Pitts Bay Road, Hamilton, HM 08, Bermuda EARNINGS RELEASE TEEKAY OFFSHORE PARTNERS REPORTS FIRST QUARTER RESULTS Highlights Generated distributable cash flow of $29.2
More informationEARNINGS RELEASE - INTERIM RESULTS FOR THE PERIOD ENDED MARCH 31, 2012
EARNINGS RELEASE - INTERIM RESULTS FOR THE PERIOD ENDED MARCH 31, 2012 Highlights Golar LNG Partners reports net income attributable to unit holders of $19.5 million and operating income of $31.8 million
More informationHighlights. from the same. period of the prior year. respectively. newbuildings. On October 18, costs and. Petrobras.
TEEKAY OFFSHORE PARTNERS L.P. 4 th Floor, Belvederee Building, 69 Pitts Bayy Road, Hamilton, HM 08, Bermuda EARNINGS RELEASE TEEKAY OFFSHORE PARTNERS REPORTS THIRD QUARTER RESULTS Highlights Generated
More informationEARNINGS RELEASE - INTERIM RESULTS FOR THE PERIOD ENDED JUNE 30, 2012
EARNINGS RELEASE - INTERIM RESULTS FOR THE PERIOD ENDED JUNE 30, 2012 Highlights Golar LNG Partners reports net income attributable to unit holders of $19.8 million and operating income of $33.0 million
More informationTEEKAY TANKERS Q EARNINGS PRESENTATION. August 2, 2018
TEEKAY TANKERS Q2-2018 EARNINGS PRESENTATION August 2, 2018 Forward Looking Statements This presentation contains forward-looking statements (as defined in Section 21E of the Securities Exchange Act of
More informationTEEKAY TANKERS Q EARNINGS PRESENTATION February 22, 2018
TEEKAY TANKERS Q4-2017 EARNINGS PRESENTATION February 22, 2018 Forward Looking Statements This presentation contains forward-looking statements (as defined in Section 21E of the Securities Exchange Act
More informationKNOT OFFSHORE PARTNERS LP
KNOT OFFSHORE PARTNERS LP FORM 6-K (Report of Foreign Issuer) Filed 05/15/14 for the Period Ending 05/15/14 Telephone 44 1224 618420 CIK 0001564180 Symbol KNOP SIC Code 4400 - Water transportation Industry
More informationEARNINGS RELEASE TEEKAY OFFSHORE PARTNERS REPORTS SECOND QUARTER RESULTS
4 th Floor, Belvedere Building, 69 Pitts Bay Road, Hamilton, HM 08, Bermuda EARNINGS RELEASE TEEKAY OFFSHORE PARTNERS REPORTS SECOND QUARTER RESULTS Highlights Generated distributable cash flow (1) of
More informationTEEKAY OFFSHORE PARTNERS L.P. 4 th Floor, Belvedere Building, 69 Pitts Bay Road, Hamilton, HM 08, Bermuda EARNINGS RELEASE
4 th Floor, Belvedere Building, 69 Pitts Bay Road, Hamilton, HM 08, Bermuda EARNINGS RELEASE TEEKAY OFFSHORE PARTNERS REPORTS FOURTH QUARTER AND ANNUAL RESULTS Highlights Declared a cash distribution of
More informationEARNINGS RELEASE TEEKAY LNG PARTNERS REPORTS THIRD QUARTER RESULTS
4 th Floor, Belvedere Building, 69 Pitts Bay Road Hamilton, HM 08, Bermuda EARNINGS RELEASE TEEKAY LNG PARTNERS REPORTS THIRD QUARTER RESULTS Highlights Generated distributable cash flow of $29.2 million
More informationFourth Quarter 2007 Earnings Presentation
T E E K A Y O F F S H O R E P A R T N E R S Fourth Quarter 2007 Earnings Presentation February 29, 2008 www.teekayoffshore.com Forward Looking Statements This presentation contains forward-looking statements
More informationPRELIMINARY FOURTH QUARTER AND FINANCIAL YEAR 2014 RESULTS
PRELIMINARY FOURTH QUARTER AND FINANCIAL YEAR 2014 RESULTS Highlights Golar LNG Partners LP reports net income attributable to unit holders of $36.7 million and operating income of $63.2 million for the
More informationTEEKAY S Q EARNINGS PRESENTATION
TEEKAY S Q2-2018 EARNINGS PRESENTATION August 2, 2018 Forward Looking Statements This presentation contains forward-looking statements (as defined in Section 21E of the Securities Exchange Act of 1934,
More informationKNOT Offshore Partners LP (Exact name of registrant as specified in its charter)
As filed with the Securities and Exchange Commission on August 21, 2017 Registration No. 333-218254 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Amendment No. 1 to FORM F-3 REGISTRATION
More informationTeekay s Fourth Quarter and Fiscal 2008 Earnings Presentation
T E E K A Y C O R P O R A T I O N Teekay s Fourth Quarter and Fiscal 2008 Earnings Presentation June 4, 2009 www.teekay.com Forward Looking Statements This release contains forward-looking statements (as
More informationOFFSHORE PARTNERS FOURTH QUARTER 2014 EARNINGS PRESENTATION
TEEKAY Photo Credit: John Mikal Torgersen TEEKAY OFFSHORE PARTNERS FOURTH QUARTER 2014 EARNINGS PRESENTATION February 20, 2015 Forward Looking Statements This presentation contains forward-looking statements
More informationKNOT Offshore Partners LP (Exact name of registrant as specified in its charter)
As filed with the Securities and Exchange Commission on May 26, 2017 Registration No. 333- UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM F-3 REGISTRATION STATEMENT UNDER
More informationFirst Quarter 2012 Earnings Presentation. May 18, 2012
First Quarter 2012 Earnings Presentation May 18, 2012 Forward Looking Statements This presentation contains forward-looking statements (as defined in Section 21E of the Securities Exchange Act of 1934,
More informationTEEKAY TANKERS Q EARNINGS PRESENTATION August 3, 2017
TEEKAY TANKERS Q2-2017 EARNINGS PRESENTATION August 3, 2017 Forward Looking Statements This presentation contains forward-looking statements (as defined in Section 21E of the Securities Exchange Act of
More informationTEEKAY OFFSHORE PARTNERS Q4-17 EARNINGS PRESENTATION
TEEKAY OFFSHORE PARTNERS Q4-17 EARNINGS PRESENTATION February 22, 2018 Forward Looking Statement This release contains forward-looking statements (as defined in Section 21E of the Securities Exchange Act
More informationTEEKAY TANKERS LTD. 4th Floor, Belvedere Building, 69 Pitts Bay Road Hamilton, HM 08, Bermuda EARNINGS RELEASE
TEEKAY TANKERS LTD. 4th Floor, Belvedere Building, 69 Pitts Bay Road Hamilton, HM 08, Bermuda EARNINGS RELEASE TEEKAY TANKERS LTD. REPORTS FIRST QUARTER 2013 RESULTS Highlights Reported first quarter 2013
More informationTEEKAY TANKERS LTD. 4th Floor, Belvedere Building, 69 Pitts Bay Road Hamilton, HM 08, Bermuda EARNINGS RELEASE
4th Floor, Belvedere Building, 69 Pitts Bay Road Hamilton, HM 08, Bermuda EARNINGS RELEASE REPORTS FIRST QUARTER RESULTS Highlights Declared a cash dividend of $0.25 per share for the quarter ended March
More informationTeekay Tankers. Q Earnings Presentation. February 21, 2019
Teekay Tankers Q4 2018 Earnings Presentation February 21, 2019 Forward Looking Statement This presentation contains forward-looking statements (as defined in Section 21E of the Securities Exchange Act
More informationTEEKAY OFFSHORE PARTNERS REPORTS SECOND QUARTER 2015 RESULTS
TEEKAY OFFSHORE PARTNERS REPORTS SECOND QUARTER 2015 RESULTS Highlights Generated distributable cash flow of $58.3 million in the second quarter of 2015, an increase of 45 percent from the second quarter
More informationEARNINGS RELEASE TEEKAY CORPORATION REPORTS THIRD QUARTER RESULTS
4 th Floor, Belvedere Building, 69 Pitts Bay Road Hamilton, HM 08, Bermuda EARNINGS RELEASE TEEKAY CORPORATION REPORTS THIRD QUARTER RESULTS Highlights Third quarter cash flow from vessel operations of
More informationKNOT OFFSHORE PARTNERS LP (Exact Name of Registrant as Specified in its Charter)
Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 20-F (Mark One) REGISTRATION STATEMENT PURSUANT TO SECTION 12 OR (g) OF THE SECURITIES EXCHANGE ACT OF 1934
More informationKNOT Offshore Partners LP KNOP Q Earnings Call Sep. 5, 2018 Company Ticker Event Type Date
PARTICIPANTS Corporate Participants John Costain Chief Executive & Financial Officer, KNOT Offshore Partners LP Other Participants Hillary Cacanando Analyst, Wells Fargo Securities LLC Ben Brownlow Analyst,
More informationKnot Offshore Partners, LP
Fourth Quarter 2017 Earnings Conference Call Wednesday, February 21st, 2018, 12:00 PM Eastern CORPORATE PARTICIPANTS - Chief Executive Officer 1 PRESENTATION Operator Good day and welcome to the Knot Offshore
More informationEARNINGS RELEASE - INTERIM RESULTS FOR THE PERIOD ENDED JUNE 30, 2011
EARNINGS RELEASE - INTERIM RESULTS FOR THE PERIOD ENDED JUNE 30, 2011 Highlights Golar LNG Partners L.P. reports results for its first quarter after successfully completing its initial public offering
More informationEARNINGS RELEASE TEEKAY OFFSHORE PARTNERS REPORTS THIRD QUARTER RESULTS
TEEKAY OFFSHORE PARTNERS L.P. 4 th Floor, Belvedere Building, 69 Pitts Bay Road, Hamilton, HM 08, Bermuda EARNINGS RELEASE TEEKAY OFFSHORE PARTNERS REPORTS THIRD QUARTER RESULTS Highlights Generated distributable
More informationINTERIM RESULTS FOR THE PERIOD ENDED 31 MARCH Highlights
INTERIM RESULTS FOR THE PERIOD ENDED 31 MARCH 2017 Highlights Golar LNG Partners LP ( Golar Partners or the Partnership ) reports net income attributable to unit holders of $23.6 million and operating
More informationTEEKAY S Q EARNINGS PRESENTATION
TEEKAY S Q3-2018 EARNINGS PRESENTATION November 15, 2018 Forward Looking Statements This presentation contains forward-looking statements (as defined in Section 21E of the Securities Exchange Act of 1934,
More informationTEEKAY LNG PARTNERS Q EARNINGS PRESENTATION. November 9, 2017
TEEKAY LNG PARTNERS Q3-2017 EARNINGS PRESENTATION November 9, 2017 Forward Looking Statement This presentation contains forward-looking statements (as defined in Section 21E of the Securities Exchange
More informationTeekay Offshore Partners Investor Day Presentation. June 18, 2012
Teekay Offshore Partners Investor Day Presentation June 18, 2012 Forward Looking Statements This presentation contains forward-looking statements (as defined in Section 21E of the Securities Exchange Act
More informationFourth Quarter 2008 Earnings Presentation
T E E K A Y T A N K E R S L T D. Fourth Quarter 2008 Earnings Presentation May 15, 2009 www.teekaytankers.com Forward Looking Statements This presentation contains forward-looking statements (as defined
More informationSecond Quarter 2014 Earnings Presentation August 7, 2014 TEEKAY CORPORATION
// Second Quarter 2014 Earnings Presentation August 7, 2014 Forward Looking Statements This presentation contains forward-looking statements (as defined in Section 21E of the Securities Exchange Act of
More informationHafnia Tankers Ltd. Interim Report. For the Three and Nine Months Ended September 30, 2016 and 2015
Interim Report For the Three and Nine Months Ended September 30, 2016 and 2015 Condensed Consolidated Balance Sheet ASSETS As of September 30 December 31 Note 2016 2015 Current assets Cash and cash equivalents
More informationTEEKAY OFFSHORE PARTNERS Q2-18 EARNINGS PRESENTATION. August 2, 2018
TEEKAY OFFSHORE PARTNERS Q2-18 EARNINGS PRESENTATION August 2, 2018 Forward Looking Statement This release contains forward-looking statements (as defined in Section 21E of the Securities Exchange Act
More informationFirst Quarter 2014 Earnings Presentation
First Quarter 2014 Earnings Presentation May 16, 2014 Forward Looking Statements This presentation contains forward-looking statements (as defined in Section 21E of the Securities Exchange Act of 1934,
More informationTEEKAY LNG PARTNERS L.P. Bayside House, Bayside Executive Park, West Bay Street & Blake Road P.O. Box AP-59212, Nassau, Bahamas EARNINGS RELEASE
Bayside House, Bayside Executive Park, West Bay Street & Blake Road P.O. Box AP-59212, Nassau, Bahamas EARNINGS RELEASE TEEKAY LNG REPORTS THIRD QUARTER RESULTS AND DECLARES QUARTERLY CASH DISTRIBUTION
More informationHamilton, Bermuda, May 9, 2016
Nordic American Tankers' 1Q2016 Report (NYSE:NAT) NAT is very different from other tanker companies. Operating cash flow remains stable. Cash dividend declared for the 75 th time. Hamilton, Bermuda, May
More informationThird Quarter 2012 Earnings Presentation. November 8, 2012
Third Quarter 2012 Earnings Presentation November 8, 2012 Forward Looking Statements This presentation contains forward-looking statements (as defined in Section 21E of the Securities Exchange Act of 1934,
More informationDynagas LNG Partners ( DLNG ) 2nd Quarter and Six Months ended June 30, July 2016
Dynagas LNG Partners ( DLNG ) 2nd Quarter and Six Months ended June 30, 2016 29 July 2016 Forward Looking Statements This presentation contains certain statements that may be deemed to be forward-looking
More informationNavios Maritime Midstream Partners L.P. Reports Financial Results for the First Quarter of 2015
1 of 8 30/4/ 8:43 µµ Print Page Close Window Press Release Navios Maritime Midstream Partners L.P. Reports Financial Results for the First Quarter of MONACO -- (Marketwired) -- 04/30/15 -- Navios Maritime
More informationTEEKAY OFFSHORE PARTNERS Q3-17 EARNINGS PRESENTATION
TEEKAY OFFSHORE PARTNERS Q3-17 EARNINGS PRESENTATION November 9, 2017 Forward Looking Statement This presentation contains forward-looking statements (as defined in Section 21E of the Securities Exchange
More informationGolar LNG Partners LP ( Golar Partners or the Partnership ) reports net income attributable to
INTERIM RESULTS FOR THE PERIOD ENDED 30 JUNE 2018 Highlights Golar LNG Partners LP ( Golar Partners or the Partnership ) reports net income attributable to unit holders of $28.4 million and operating income
More informationMLP Investor Conference
T E E K A Y L N G P A R T N E R S MLP Investor Conference Peter Evensen, Chief Executive Officer March 9, 2006 Forward Looking Statements This presentation contains forward-looking statements (as defined
More informationTeekay Offshore Partners and Teekay LNG Partners. NAPTP Conference-May 23/24, 2012
Teekay Offshore Partners and Teekay LNG Partners NAPTP Conference-May 23/24, 2012 Teekay s MLPs Market Cap: $2.5bn* Strong Sponsor Teekay Corp Ownership: 40.1% (incl. 2% GP interest) Core Focus: LNG &
More informationFirst Quarter 2013 Earnings Presentation May 9, 2013 TEEKAY CORPORATION
// First Quarter 2013 Earnings Presentation May 9, 2013 Forward Looking Statements This presentation contains forward-looking statements (as defined in Section 21E of the Securities Exchange Act of 1934,
More informationTEEKAY TEEKAY TANKERS Q4 AND FISCAL 2015 EARNINGS PRESENTATION
TEEKAY TEEKAY TANKERS Q4 AND FISCAL 2015 EARNINGS PRESENTATION February 19, 2016 Forward Looking Statements This presentation contains forward-looking statements (as defined in Section 21E of the Securities
More informationEARNINGS RELEASE TEEKAY LNG PARTNERS REPORTS FIRST QUARTER RESULTS
4 th Floor, Belvedere Building, 69 Pitts Bay Road Hamilton, HM 08, Bermuda EARNINGS RELEASE TEEKAY LNG PARTNERS REPORTS FIRST QUARTER RESULTS Highlights Generated distributable cash flow of $53.7 million
More informationEARNINGS RELEASE TEEKAY CORPORATION REPORTS FOURTH QUARTER AND ANNUAL RESULTS
4 th Floor, Belvedere Building, 69 Pitts Bay Road Hamilton, HM 08, Bermuda ` EARNINGS RELEASE REPORTS FOURTH QUARTER AND ANNUAL RESULTS Highlights Fourth quarter cash flow from vessel operations of $129.4
More informationCAPITAL PRODUCT PARTNERS L.P
CAPITAL PRODUCT PARTNERS L.P. ANNOUNCES SECOND QUARTER 2017 FINANCIAL RESULTS, ENTERING INTO A FIRM OFFER LETTER FOR A NEW $460 MILLION CREDIT FACILITY FOR THE REFINANCING OF SUBSTANTIALLY ALL OF THE PARTNERSHIP
More informationAmerican Shipping Company Continues Fleet Expansion.
American Shipping Company Continues Fleet Expansion. Second quarter 2008 The growing fleet of American Shipping Company ASA, formerly known as Aker American Shipping ASA, continues to successfully operate
More informationTEEKAY LNG PARTNERS Q EARNINGS PRESENTATION. February 22, 2018
TEEKAY LNG PARTNERS Q4-2017 EARNINGS PRESENTATION February 22, 2018 Forward Looking Statement This presentation contains forward-looking statements (as defined in Section 21E of the Securities Exchange
More informationTEEKAY SHIPPING CORPORATION Bayside House, Bayside Executive Park, West Bay Street & Blake Road P.O. Box AP-59212, Nassau, Bahamas EARNINGS RELEASE
Bayside House, Bayside Executive Park, West Bay Street & Blake Road P.O. Box AP-59212, Nassau, Bahamas EARNINGS RELEASE TEEKAY REPORTS FOURTH QUARTER AND ANNUAL RESULTS Highlights Reported fourth quarter
More informationTEEKAY OFFSHORE PARTNERS L.P. 4 th Floor, Belvedere Building, 69 Pitts Bay Road, Hamilton, HM 08, Bermuda EARNINGS RELEASE
TEEKAY OFFSHORE PARTNERS L.P. 4 th Floor, Belvedere Building, 69 Pitts Bay Road, Hamilton, HM 08, Bermuda EARNINGS RELEASE TEEKAY OFFSHORE PARTNERS REPORTS THIRD QUARTER RESULTS Highlights Generated distributable
More informationUNAUDITED CONSOLIDATED FINANCIAL STATEMENTS TEEKAY SHUTTLE TANKERS L.L.C.
UNAUDITED CONSOLIDATED FINANCIAL STATEMENTS TEEKAY SHUTTLE TANKERS L.L.C. Interim report for the three and nine months ended INDEX TO UNAUDITED CONSOLIDATED FINANCIAL STATEMENTS TO TEEKAY SHUTTLE TANKERS
More informationHafnia Tankers Ltd. Interim Report. For the Three and Six Months Ended June 30, 2018 and 2017
Interim Report For the Three and Six Months Ended, 2018 and 2017 Consolidated Balance Sheet As of December 31 Note 2018 2017 ASSETS Current assets Cash and cash equivalents 50,974 48,127 Accounts receivable
More informationTEEKAY CORPORATION REPORTS SECOND QUARTER 2014 RESULTS
4 th Floor, Belvedere Building, 69 Pitts Bay Road Hamilton, HM 08, Bermuda EARNINGS RELEASE REPORTS SECOND QUARTER 2014 RESULTS Highlights Second quarter 2014 total cash flow from vessel operations of
More informationTeekay s Third Quarter 2008 Earnings Presentation
T E E K A Y C O R P O R A T I O N Teekay s Third Quarter 2008 Earnings Presentation January 25, 2009 www.teekay.com Forward Looking Statements This presentation contains forward-looking statements (as
More informationTEEKAY LNG PARTNERS Q EARNINGS PRESENTATION. August 3, 2017
TEEKAY LNG PARTNERS Q2-2017 EARNINGS PRESENTATION August 3, 2017 Forward Looking Statement This presentation contains forward-looking statements (as defined in Section 21E of the Securities Exchange Act
More informationEARNINGS RELEASE TEEKAY OFFSHORE PARTNERS REPORTS FIRST QUARTER 2014 RESULTS
TEEKAY OFFSHORE PARTNERS L.P. 4 th Floor, Belvedere Building, 69 Pitts Bay Road, Hamilton, HM 08, Bermuda EARNINGS RELEASE TEEKAY OFFSHORE PARTNERS REPORTS FIRST QUARTER 2014 RESULTS Highlights Generated
More informationFourth Quarter 2018 Earnings Presentation January 28, 2019
Fourth Quarter 2018 Earnings Presentation January 28, 2019 Safe Harbor Statement This document may contain forward-looking statements that reflects management s expectations for the future. The Private
More informationSEASPAN REPORTS FINANCIAL RESULTS FOR THE QUARTER AND YEAR ENDED DECEMBER 31, 2015
Seaspan Corporation Unit 2, 2 nd Floor, Bupa Centre 141 Connaught Road West Hong Kong, China c/o 2600 200 Granville Street Vancouver, BC Canada V6C 1S4 Tel: 604-638-2575 Fax: 604-648-9782 www.seaspancorp.com
More informationSelling, general and administrative expenses 35,645 33,787. Net other operating income (292) (270) Operating profit 44,202 17,756
Condensed Interim Consolidated Income Statement For the quarter ended September 30 Continuing operations Revenue 328,071 258,941 Cost of sales 248,516 207,668 Gross profit 79,555 51,273 Selling, general
More informationSEASPAN REPORTS FINANCIAL RESULTS FOR THE THREE AND NINE MONTHS ENDED SEPTEMBER 30, 2017
Seaspan Corporation Unit 2, 2 nd Floor, Bupa Centre 141 Connaught Road West Hong Kong, China c/o 2600 200 Granville Street Vancouver, BC Canada V6C 1S4 Tel: 604-638-2575 Fax: 604-648-9782 www.seaspancorp.com
More informationSEASPAN REPORTS FINANCIAL RESULTS FOR THE THREE AND NINE MONTHS ENDED SEPTEMBER 30, 2016
SEASPAN REPORTS FINANCIAL RESULTS FOR THE THREE AND NINE MONTHS ENDED SEPTEMBER 30, 2016 Raises over $1.5B of Capital during 2016 and Continues to Benefit from Operating Cost Efficiencies HONG KONG, China,
More informationNavios Maritime Partners L.P. Reports Financial Results for the Second Quarter Ended June 30, 2014
Navios Maritime Partners L.P. Reports Financial Results for the Second Quarter Ended $117.7 million acquisition of two 8,200 TEU container vessels Net Income EBITDA Chartered-out for minimum four years
More informationT E E K A Y P A R T N E R S. Teekay Offshore Partners and Teekay LNG Partners
T E E K A Y P A R T N E R S Teekay Offshore Partners and Teekay LNG Partners MLP Conference 2008 1 T E E K A Y L N G P A R T N E R S L. P. NYSE: TGP IPO Date: May 5, 2005 IPO Price: $22/unit Current Price/unit:
More informationEARNINGS RELEASE TEEKAY CORPORATION REPORTS FOURTH QUARTER AND ANNUAL RESULTS
4 th Floor, Belvedere Building, 69 Pitts Bay Road Hamilton, HM 08, Bermuda EARNINGS RELEASE REPORTS FOURTH QUARTER AND ANNUAL RESULTS Highlights Fourth quarter 2008 cash flow from vessel operations of
More informationEARNINGS RELEASE TEEKAY LNG PARTNERS REPORTS FIRST QUARTER RESULTS
4 th Floor, Belvedere Building, 69 Pitts Bay Road, Hamilton, HM 08, Bermuda EARNINGS RELEASE TEEKAY LNG PARTNERS REPORTS FIRST QUARTER RESULTS Highlights Generated distributable cash flow of $21.9 million
More informationEARNINGS RELEASE TEEKAY LNG PARTNERS REPORTS FOURTH QUARTER AND ANNUAL RESULTS
4 th Floor, Belvedere Building, 69 Pitts Bay Road Hamilton, HM 08, Bermuda EARNINGS RELEASE TEEKAY LNG PARTNERS REPORTS FOURTH QUARTER AND ANNUAL RESULTS Highlights Generated distributable cash flow of
More informationEARNINGS RELEASE TEEKAY LNG PARTNERS REPORTS FOURTH QUARTER AND ANNUAL 2014 RESULTS
4 th Floor, Belvedere Building, 69 Pitts Bay Road Hamilton, HM 08, Bermuda EARNINGS RELEASE TEEKAY LNG PARTNERS REPORTS FOURTH QUARTER AND ANNUAL 2014 RESULTS Highlights Generated distributable cash flow
More informationUNAUDITED CONSOLIDATED FINANCIAL STATEMENTS TEEKAY SHUTTLE TANKERS L.L.C.
UNAUDITED CONSOLIDATED FINANCIAL STATEMENTS TEEKAY SHUTTLE TANKERS L.L.C. Interim report for the three months ended March 31, 2018. INDEX TO UNAUDITED CONSOLIDATED FINANCIAL STATEMENTS TO TEEKAY SHUTTLE
More information