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Commission File No. 0-29106
FORM 6-K
SECURITIES AND EXCHANGE COMMISSION
Washington, D. C. 20549
Report of Foreign Private Issuer
Pursuant to Rule 13a-16 or 15d-16 of
the Securities Exchange Act of 1934
For the month of October, 1997
KNIGHTSBRIDGE TANKERS LIMITED
(Translation of registrant's name into English)
Cedar House
41 Cedar Avenue
Hamilton HM 12
Bermuda
(Address of principal executive offices)
Indicate by check mark whether the registrant files or
will file annual reports under cover Form 20-F or Form 40-F.
Form 20-F X Form 40-F
Indicate by check mark whether the registrant by
furnishing the information contained in this Form is also thereby
furnishing the information to the commission pursuant to Rule
12g3-2(b) under the Securities Exchange Act of 1934.
Yes No X
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Item 1. INFORMATION CONTAINED IN THIS FORM 6-K REPORT
Attached as Exhibit 1 is a copy of the press release of
Knightsbridge Tankers Limited (the "Company"), dated October 15,
1997, relating to, among other things, the Board of Directors'
decision to declare a cash distribution to the Company's
shareholders of record as of October 27, 1997 in the amount of
US$0.64 per share, which will be payable on or about November 13,
1997.
Item 2. ADDITIONAL INFORMATION
Royal Dutch Petroleum Company and The Shell Transport
and Trading Company, Public Limited Company file annual reports
on Form 20-F (File Nos. 1-3788 and 1-4039) and periodic reports
on Form 6-K with the Securities and Exchange Commission pursuant
to the Securities Exchange Act of 1934, as amended. Such annual
reports contain the financial statements of the Royal Dutch/Shell
Group of Companies.
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FOR IMMEDIATE RELEASE
KNIGHTSBRIDGE TANKERS LIMITED
announces
Cash Distribution
Contact: Karl Molander
Knightsbridge Tankers Limited
Investors Relations
(011) +46-8-613-30-30
Hamilton, Bermuda, October 15, 1997: Knightsbridge Tankers
Limited ("Knightsbridge") announced that its Board of Directors
has declared a cash distribution, in the amount of US$ 0.64 per
share. The cash distribution will be payable on or about
November 13, 1997, to shareholders of record as of October 27,
1997. The declaration of the cash distribution follows receipt
by Knightsbridge of its payment charterhire from Shell
International Petroleum Company Limited ("Shell International"),
a member of the Royal Dutch/Shell Group of Companies, for the
period from July 1, 1997 to September 30, 1997. Shell
International bareboat charters five double hull very large crude
carriers (VLCCs) from Knightsbridge on a "hell and high water"
basis for a minimum seven year term, with an option for Shell
International to extend the period for each VLCC for an
additional seven year term, to a maximum of 14 years per VLCC.
The charterhire payable by Shell International is the greater of
a guaranteed minimum rate or spot market related rate. The spot
market related rate exceeded the guaranteed minimum rate in the
third quarter of 1997, and the charterhire paid by Shell
International to Knightsbridge on October 15, 1997 was
US$3,130,300 or US$6,805 per vessel and day higher than the
minimum rate.
Knightsbridge's Common Shares trade on the Nasdaq National Market
under the symbol "VLCCF".
Knightsbridge Tankers Limited Knightsbridge Tankers Limited
Investors Relations Registered Office
P.O. Box 7007 Cedar House, 41 Cedar Avenue
S-103 86 Stockholm, Sweden Hamilton HM 12,
Telephone: Int+46-8-613 30 30 Bermuda
Telefax: Int+46-8-613- 99 09
01655001.FS7
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SIGNATURES
Pursuant to the requirements of the Securities
Exchange Act of 1934, the registrant has duly caused this report
to be signed on its behalf by the undersigned, thereunto duly
authorized.
KNIGHTSBRIDGE TANKERS LIMITED
(registrant)
Dated: October 17, 1997 By: /s/ Ola Lorentzon_________
__________________________
Ola Lorentzon
Director, Deputy Chairman
and Treasurer
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01655001.FS7
