DNV and COSCO sign contract to class KNOT’s methanol-ethanol ready shuttle tanker

Classification society DNV on Wednesday (4 June) said it has signed a new contract with Cosco Shipping Heavy Industry Zhoushan Shipyard (COSCO) during Nor-Shipping 2025 for the classification of a newly contracted methanol-ethanol ready Suezmax DP2 shuttle tanker ordered by Knutsen NYK Offshore Tankers (KNOT). 

The vessel, part of a broader fleet expansion by KNOT, will be operated under charter to Norwegian energy major Equinor. 

The 154,000-deadweight-tonne (dwt) shuttle tanker features dual-fuel capability with methanol-readiness, and complies with IMO NOx-Tier III and EEDI Phase 3 regulations. 

Guo Zhiqiang, Deputy General Manager, Commercial Headquarters, COSCO Shipping Heavy Industry, said: “We, COSCO Shipping Heavy Industry are pleased to see this great milestone achieved for the exciting project. We appreciate the trust and support from our partners, namely KNOT, DNV, and Equinor in the past years.

“COSCO Shipping Heavy Industry have delivered more than ten 154K DP shuttle tankers for KNOT together under the classification of DNV, and this project will be the first DP shuttle tanker we build for world first class oil major – Equinor.”

Tom Ketil Knutsen, General Manager Newbuiding & Innovation at KNOT, said: “We are proud to attend the signing of a new contract between DNV and COSCO SHIPPING Heavy Industry (Zhoushan) Co., Ltd, for a 154.000 dwt DP2 Shuttle Tanker, set for delivery in early 2028. Knutsen NYK Offshore Tankers are thrilled to mark this as another exciting chapter in the enduring relationship between DNV, Equinor and Knutsen – a partnership rooted in mutual trust and collaboration from our early beginning in the North Sea to our expansion into the Brazilian waters.”

Øyvind Pettersen, Head of the Technical Centre China at DNV Maritime, commented: “At DNV we are very pleased with the trust placed in us as the classification partner for this exciting new project, and to support the continued expansion of KNOT’s shuttle tanker fleet. 

“Each COSCO newbuilding reflects a shared commitment from all partners to safer, lower-carbon, more efficient, and technically advanced offshore operations. We are committed to providing the independent assurance and technical standards that are helping to bring greater transparency and trust to these investments and look forward to continuing this productive cooperation. 

“In addition, DNV extend our heartfelt congratulations to KNOT as they celebrate their 40th anniversary, made even more special by marking it here at Nor-Shipping.”

The vessel will be equipped with a fifth-generation bow loading system developed by McGregor, to enhance the safety and efficiency of loading from offshore production units in challenging sea conditions. In addition, it will be shore power ready and fitted with VOC prevention systems to reduce operational emissions. 

This is the sixth vessel in a current series of newbuilds placed by KNOT at COSCO, bringing the total number of DP2 Suezmax shuttle tankers ordered by KNOT at the yard to 12 vessels.

Photo credit: DNV
Published: 5 June, 2025