KNOT Offshore Partners management says Q2 2026 earnings fall as higher depreciation offsets added vessels and insurance recoveries

In management commentary for the quarter ended June 30, 2026, KNOT Offshore Partners posted net income of $3.41 million, down from $6.81 million.

Revenue rose to $96.78 million from $87.06 million, driven mainly by fleet additions, partly offset by drydockings.

Operating costs climbed as more vessels operated on time charters, with higher drydocking activity contributing to the increase.

Depreciation jumped to $42.09 million from $29.37 million, reflecting a shorter useful-life estimate applied from January 1, 2026.

Interest expense fell to $13.8 million from $15.32 million on debt repayment and lower SOFR, lifting finance costs performance.