HAMILTON, NORWAY--(Marketwire - Nov 22, 2012) - Knightsbridge Tankers Limited
("Knightsbridge" or "the Company") announces that the VLCC Kensington has
been sold to an unrelated third party with expected delivery in November
2012. The Company expects to record a gain of approximately $0.1 million in
the fourth quarter having recorded an impairment loss of $13.5 million on
this vessel in the third quarter. The net cash proceeds from the sale are
approximately $10 million after repayment of debt.
The sale of the Kensington is part of Knightsbridge's strategy to renew and
grow the fleet and the proceeds will assist the Company in reacting to
interesting acquisition opportunities. After the sale, the Company's fleet
consists of four Capesize vessels and one VLCC.
The Company announces revised ex dividend date, November 26, 2012. The
record date and the payment date for the dividend remains the same as
previously announced in the press release dated November 7, 2012.
The Board of Directors
Knightsbridge Tankers Limited
November 22, 2012
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Source: Knightsbridge Tankers Limited via Thomson Reuters ONE