KNOT Offshore Partners (KNOP) F-3/A Shelf registration (foreign) (amended)

Exhibit 12.1

COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES AND TO FIXED CHARGES

AND PREFERRED UNIT DISTRIBUTIONS

	Six Months Ended June 30,				Year ended December 31,
(USD in thousands)	2017		2016		2016		2015		2014		2013		2012
Earnings:
Pre-tax income		28,350		22,247		61,087		40,383		27,407		17,891		2,006
Add: Fixed charges		13,466		10,084		20,867		17,451		15,271		10,773		13,471
Add: Amortization of capitalized interest		413		413		827		827		827		827		827
Less: Interest capitalized		—		—		—		—		—		—		—
Earnings		42,229		32,744		82,781		58,661		43,505		29,491		16,304
Fixed charges:
Interest expense		12,711		9,511		19,669		16,302		12,250		9,032		12,489
Interest capitalized		—		—		—		—		—		—		—
Amortization of debt issuance cost and capitalized expenses related to indebtedness		755		573		1,198		1,149		3,021		1,741		982
Fixed charges		13,466		10,084		20,867		17,451		15,271		10,773		13,471
Preferred unit distributions		645		—		—		—		—		—		—
Total fixed charges and preferred unit distributions		14,111		10,084		20,867		17,451		15,271		10,773		13,471
Ratio of earnings to fixed charges		3.14x		3.25x		3.97x		3.36x		2.85x		2.74x		1.21x
Ratio of earnings to fixed charges and preferred unit distributions		2.99x		3.25x		3.97x		3.36x		2.85x		2.74x		1.21x