Knightsbridge Tankers Limited has secured a long-term time charter
contract, for one of the Company's five very large crude carriers
(VLCC's), with a highly reputable charterer.
The five-year agreement will help to provide a steady and predictable flow of revenue with secured income of approximately $31,000 per day for the duration of the contract. The arrangement will commence in mid March, 2004 upon the redelivery of the vessel from Shell International Petroleum Company.