VLCCF - Knightsbridge Tankers Limited Announces Pricing Of Public Offering

HAMILTON, Bermuda, Oct. 18, 2013 (GLOBE NEWSWIRE) --
October   18, 2013 -   Knightsbridge   Tankers   Limited   (the   "Company"   or"Knightsbridge")  (NASDAQ: VLCCF) today announced  the pricing of its previouslyannounced  public  offering.   The  Company  agreed to sell the 6,000,000 commonshares  at a public offering price of $9.00 per share.  The Company also grantedthe  book-running manager a 30-day  option to purchase 900,000 additional commonshares.  The common shares are being offered pursuant to the Company's effectiveshelf registration statement.The  Company intends to use the net  proceeds of this offering to partially fundthe acquisition of newbuilding vessels and for general corporate purposes.Morgan Stanley is acting as the sole book-running manager for the offering.  TheCompany  expects to close  the sale of  the common shares  on October 23, 2013,subject to customary closing conditions.This  press release does not constitute an  offer to sell or the solicitation ofan  offer to buy securities  and shall not constitute  an offer, solicitation orsale  in any jurisdiction in which such offer, solicitation or sale is unlawful. The offering is being made only by means of a prospectus and related prospectussupplement.   A prospectus supplement related to the offering will be filed withthe   Securities  and  Exchange  Commission.   When  available,  copies  of  theprospectus  and prospectus supplement  relating to the  offering may be obtainedfrom the offices of Morgan Stanley & Co. LLC at 180 Varick Street, Second Floor,New York, New York 10014, Attention: Prospectus Delivery Department.Forward-Looking StatementsMatters   discussed   in  this  press  release  may  constitute  forward-lookingstatements.  The Private Securities Litigation  Reform Act of 1995 provides safeharbor   protections  for  forward-looking  statements  in  order  to  encouragecompanies  to  provide  prospective  information  about their business. Forward-looking  statements  include  statements  concerning  plans,  objectives, goals,strategies,  future events or performance,  and underlying assumptions and otherstatements, which are other than statements of historical facts.The  Company desires  to take  advantage of  the safe  harbor provisions  of thePrivate   Securities  Litigation  Reform  Act  of  1995 and  is  including  thiscautionary  statement in connection with this safe harbor legislation. The words"believe,"  "anticipate," "intends," "estimate,"  "forecast," "project," "plan,""potential,"  "may,"  "should,"  "expect,"  "pending"  and  similar  expressionsidentify forward-looking statements.The  forward-looking statements  in this  press release  are based  upon variousassumptions,  many  of  which  are  based,  in  turn,  upon further assumptions,including  without  limitation,  examination  by  the  Company's  management  ofhistorical  operating  trends,  data  contained  in  its  records and other dataavailable   from  third  parties.  Although  the  Company  believes  that  theseassumptions  were reasonable when made, because these assumptions are inherentlysubject  to significant uncertainties  and contingencies which  are difficult orimpossible  to predict and are beyond  the Company's control, the Company cannotassure  you that  it will  achieve or  accomplish these expectations, beliefs orprojections.In  addition to  these important  factors, other  important factors that, in theCompany's  view,  could  cause  actual  results  to differ materially from thosediscussed  in  the  forward-looking  statements  include  the  strength of worldeconomies  and currencies, general market  conditions, including fluctuations incharter  rates  and  vessel  values,  changes  in  demand  for dry bulk shippingcapacity,  changes in the Company's operating expenses, including bunker prices,drydocking   and   insurance  costs,  the  market  for  the  Company's  vessels,availability  of financing  and refinancing,  changes in  governmental rules andregulations or actions taken by regulatory authorities, potential liability frompending  or  future  litigation,  general  domestic  and international politicalconditions,  potential  disruption  of  shipping  routes  due  to  accidents  orpolitical  events,  vessels  breakdowns  and  instances  of  off-hires and otherfactors.  Please see our filings with the Securities and Exchange Commission fora  more complete  discussion of  these and  other risks  and uncertainties.  Theinformation  set forth herein speaks only as of the date hereof, and the Companydisclaims  any intention or obligation  to update any forward-looking statementsas a result of developments occurring after the date of this communication.Questions should be directed to:Contact:Ola Lorentzon:Chairman and Chief Executive Officer, Knightsbridge Tankers Limited+ 46 703 998886Inger M. Klemp:Chief Financial Officer, Knightsbridge Tankers Limited+47 23 11 40 76[HUG#1736712]