Knightsbridge Tankers Limited (VLCCF) - Announces Long Term Charter Contract

News was prepared under the information support of Online Daily Newspaper on Hellenic and international Shipping "Hellenic Shipping News".

19 Mar 2008

Knightsbridge Tankers Limited ("Knightsbridge" or the "Company") announces that it has agreed to fix out on time charter one of its two Capesize bulk carriers currently under construction at Daehan Shipbuilding Co. Ltd in the Republic of Korea. The charter is for a period of five years from the delivery scheduled for July 2009 and is at a net rate of $53,000 per day.Chairman of Knightsbridge Tankers, Ola Lorentzon, says "The Board is pleased to have secured charters for both of its new Capesize vessels, which is in line with its previously stated strategy to safeguard the Company's long term earnings, reduce financial exposure and enhance dividend capacity".