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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 6-K
Report of Foreign Issuer
Pursuant to Rule 13a-16 or 15d-16 of
the Securities Exchange Act of 1934
For the month of January , 2001
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Knightsbridge Tankers Limited
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(Translation of registrant's name into English)
Mercury House, 101 Front Street, Hamilton HM 12, Bermuda
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(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___
If "Yes" is marked, indicate below the file number assigned to
the registrant in connection with Rule 12g3-2(b): 82-_______
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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 16,
2001, relating to the declaration of a cash distribution in the
amount of $1.68 per share.
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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Exhibit 1
FOR IMMEDIATE RELEASE
KNIGHTSBRIDGE TANKERS LIMITED
announces
Cash Distribution
Hamilton, Bermuda, January 16, 2001: Knightsbridge Tankers
Limited ("Knightsbridge") announced that its Board of Directors
has declared a cash distribution, in the amount of US$1.68 per
share. The cash distribution will be payable on or about February
9, 2001, to shareholders of record as of January 26, 2001. The
declaration of the cash distribution follows the calculation by
Knightsbridge of the payment of charterhire due from Shell
International Petroleum Company Limited ("Shell International"),
a member of the Royal Dutch/Shell Group of Companies, for the
period from October 1, 2000 to December 31, 2000. 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 for the fourth quarter of 2000, as determined
by the London Tanker Brokers' Panel exceeds the guaranteed
minimum rate by US$45,576 per vessel per day.
Knightsbridge's Common Shares trade on the Nasdaq National Market
under the symbol "VLCCF".
Contact: Knightsbridge Tankers Limited
Investor Relations
Ola Lorentzon (Oslo, Norway)
47 23 11 40 00
Kate Blankenship (Hamilton, Bermuda)
1 (441) 295-6935
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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 authorised.
Knightsbridge Tankers Limited
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(Registrant)
Date January 16, 2001 By /s/ Kate Blankenship
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Kate Blankenship
Secretary
02089009.AD3
