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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 January, 1998
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 hereto is a copy of the press release of
Knightsbridge Tankers Limited (the "Company"), dated January 15,
1998. The press release relates to the declaration by the Board
of Directors of the Company of a cash distribution in the amount
of $.75 per share payable on or about February 10, 1998, to
shareholders of record as of January 26, 1998.
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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KNIGHTSBRIDGE TANKERS LIMITED
FOR IMMEDIATE RELEASE
KNIGHTSBRIDGE TANKERS LIMITED
announces
Cash Distribution
Contact: Karl Molander
Knightsbridge Tankers Limited
Investor Relations
(011)+46-8-613 30 30
Hamilton, Bermuda, January 15, 1998: Knightsbridge Tankers
Limited ("Knightsbridge") announced that its Board of Directors
has declared a cash distribution, in the amount of US$0.75 per
share. The cash distribution will be payable on or about
February 10, 1998, to shareholders of records as of January 26,
1998. The declaration of the cash distribution follows receipt
by Knightsbridge of its payment of charterhire from Shell
International Petroleum Company Limited ("Shell International"),
a member of the Royal Dutch/Shell Group of Companies, for the
period from October 1, 1997 to December 31, 1997. Shell
International bareboat charters five double hull very large crude
carriers (VLCCs) from Knightsbridge on a "hell and high water"
bases 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 charter hire payable by Shell International is the greater of
a guaranteed minimum rate or a spot market related rate. The
spot market related rate exceeded the guaranteed minimum rate in
the fourth quarter of 1997, and the charterhire paid by Shell
International to Knightsbridge on January 15, 1998 was
US$5,087,140 or US$11,059 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
Investor Relations Registered Office
P.O. Box 7007, S-103 86 Cedar House, 41 Cedar Avenue
Stockholm, Sweden Hamilton HM 12, Bermuda
Telephone: Int+46-8-613 30 30
Telefax: Int+46-8-613 99 09
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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: January 15, 1998 By: /s/ Ola Lorentzon
___________________________
Ola Lorentzon
Director, Deputy Chairman
and Treasurer
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01655001.FU4
