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, 1999
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
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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 January 15,
1999, relating to the Board of Directors' decision to declare a
cash distribution to the Company's shareholders of record as of
January 25, 1999 in the amount of US$0.45 per share, which will
be payable on or about February 9, 1999.
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.
2
<PAGE>
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, 1999: Knightsbridge Tankers
Limited ("Knightsbridge") announced that its Board of Directors
has declared a cash distribution, in the amount of US $0.45 per
share. The cash distribution will be payable on or about
February 9, 1999, to shareholders of record as of January 25,
1999. 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, 1998 to December 31, 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 fourth quarter of 1998.
Knightsbridge's Common Shares trade on the NASDAQ National Market
under the symbol "VLCCF".
<PAGE>
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, 1999 By: /s/ Ola Lorentzo
____________________________
Ola Lorentzon
Director, Deputy Chairman
and Treasurer
01655001.FS7
