Norway-based shipowner Knutsen NYK Offshore Tankers (KNOT) placed an order with COSCO (Zhoushan) Shipyard under well-known COSCO for the construction of one 15,2000dwt shuttle tanker, according to a domestic news report.

The construction cost of the tanker is more than US$100m, and the newbuild is predicted to be delivered at the beginning of 2017.

The tanker has obtained an 11-year charter from an anonymous Brazil-based petroleum company, which is projected to bring KNOT US$220m worth of freight revenue, the report said.

The shuttle tanker is the sister of 2015-built Raquel Knutsen, and the latter is also built by COSCO (Zhoushan) Shipyard, which is expected to be delivered this February, added the report.

KNOT is jointly owned by Japan's leading shipping company NYK Line and Norway's Knutsen OAS Shipping.