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2014-04-23

Knightsbridge Tankers Limited : VLCCF - Closing of transaction

Knightsbridge Tankers Limited ("Knightsbridge" or "the Company") (Nasdaq:
VLCCF) is pleased to announce that its previously announced vessel
acquisition transaction has closed. Knightsbridge has issued 18.6 million
shares and paid $24 million in cash in exchange for one Capesize bulk carrier
built in 2013 and five 180,000 DWT Capesize bulk carrier newbuildings.

The Board of Directors
Knightsbridge Tankers Limited
Hamilton, Bermuda
April 23, 2014

Questions should be directed to:

Contact:

Ola Lorentzon: Chairman, Knightsbridge Tankers Limited

+ 46 703 998886

Inger M. Klemp: Chief Financial Officer, Knightsbridge Tankers Limited

+47 23 11 40 76

FORWARD LOOKING STATEMENTS

Matters discussed in this report may constitute forward-looking statements.
The Private Securities Litigation Reform Act of 1995 provides safe harbor
protections for forward-looking statements, which include statements
concerning plans, objectives, goals, strategies, future events or
performance, and underlying assumptions and other statements, which are other
than statements of historical facts.

Knightsbridge Tankers Limited and its subsidiaries, or the Company, desires to
take advantage of the safe harbor provisions of the Private Securities
Litigation Reform Act of 1995 and is including this cautionary statement in
connection with this safe harbor legislation. This report and any other
written or oral statements made by us or on our behalf may include
forward-looking statements, which reflect our current views with respect to
future events and financial performance. The words "believe," "anticipate,"
"intend," "estimate," "forecast," "project," "plan," "potential," "will,"
"may," "should," "expect" and similar expressions identify forward-looking
statements.

The forward-looking statements in this report are based upon various
assumptions, including, without limitation, management's examination of
historical operating trends, data contained in our records and data available
from third parties. Although we believe that these assumptions were
reasonable when made, because these assumptions are inherently subject to
significant uncertainties and contingencies which are difficult or impossible
to predict and are beyond our control, we cannot assure you that we will
achieve or accomplish these expectations, beliefs or projections. We
undertake no obligation to update any forward-looking statements, whether as
a result of new information, future events or otherwise.

In addition to these important factors and matters discussed elsewhere herein
and in the documents incorporated by reference herein, important factors
that, in our view, could cause actual results to differ materially from those
discussed in the forward-looking statements include the strength of world
economies, fluctuations in currencies and interest rates, general market
conditions, including fluctuations in charter hire rates and vessel values,
changes in demand in the dry bulk market, 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 and regulations or actions taken by regulatory
authorities, potential liability from pending or future litigation, general
domestic and international political conditions, potential disruption of
shipping routes due to accidents, political events or acts by terrorists, and
other important factors described from time to time in the reports filed by
the Company with the Securities and Exchange Commission, or the Commission.

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This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Knightsbridge Tankers Limited via Globenewswire

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