Knightsbridge Tankers Offer Shares, Intend to Order New Ships

Knightsbridge Tankers Limited has announced a public offering of common shares. The Company also intends to grant the book-running manager a 30-day option to purchase additional common shares representing 15% of the offered shares. The common shares are being offered pursuant to the Company's effective shelf registration statement.

The Company intends to use the net proceeds of this offering to partially fund the acquisition of newbuilding vessels and for general corporate purposes.

Morgan Stanley is acting as the sole book-running manager for the offering.

The company's website lists ownership of five dry-bulk carriers.