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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 July, 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 July 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 $0.63 per share payable on or about August 11, 1998, to
shareholders of record as of July 27, 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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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, July 15, 1998: Knightsbridge Tankers Limited
("Knightsbridge") announced that its Board of Directors has
declared a cash distribution, in the amount of US$0.63 per share.
The cash distribution will be payable on or about August 11,
1998, to shareholders of record as of July 27, 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 April 1, 1998 to June 30, 1998. 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 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 did not exceed the guaranteed minimum rate in the
first quarter of 1998, and the charterhire paid by Shell
International to Knightsbridge on 15 July, 1998 was US$3,376,100
or US$7,420 per vessel per day higher than the minimum rate.
Knightsbridge's Common Shares trade on the NASDAQ National Market
under the symbol "VLCCF".
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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: July 16, 1998 By: /s/ Ola Lorentzon
___________________________
Ola Lorentzon
Director, Deputy Chairman
and Treasurer
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01655002.AE5
