VLCCF - Information on charter contract for Battersea
(Thomson Reuters ONE) -
Knightsbridge Tankers Limited (Nasdaq: VLCCF) (the "Company") advises that the
Company today has been contacted by Sanko Steamship Co., Ltd. ("Sanko") where
they ask Owners for deferred payments in relation to hire payments. Sanko has
also sent out a press release on March 9 where they assure that they fully
intend to meet all financial obligations and that they will restructure and
strengthen the company's balance sheet.
The Company has the Cape size vessel Battersea on charter to Sanko at $39,500
per day net, for a period up to minimum June 26, 2014. The Company has received
all hire up until March 10, 2012 in full, and has as per that date no
outstanding hire due from the charterer. The Company has received part payment
for the next fifteen days' hire.
The Company's management will endeavor to protect the value of the charter
contract with Sanko.
The Board of Directors
Knightsbridge Tankers Limited
Hamilton, Bermuda
March 12, 2012
Questions should be directed to:
Contact: Ola Lorentzon: Chairman and Chief Executive Officer, 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 press release may constitute forward-looking
statements. The Private Securities Litigation Reform Act of 1995 provides safe
harbor protections for forward-looking statements in order to encourage
companies 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 other
statements, which are other than statements of historical facts.
Knightsbridge 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. The words
"believe," "anticipate," "intends," "estimate," "forecast," "project," "plan,"
"potential," "will," "may," "should," "expect," "pending" and similar
expressions identify forward-looking statements.
The forward-looking statements in this document are based upon various
assumptions, many of which are based, in turn, upon further assumptions,
including without limitation, our management's examination of historical
operating trends, data contained in our records and other 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.
In addition to these important factors, 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 and
currencies, general market conditions, including fluctuations in charterhire
rates and vessel values, changes in demand in the tanker market, as a result of
changes in OPEC's petroleum production levels and world wide oil consumption and
storage, changes in Knightsbridge's operating expenses, including bunker prices,
drydocking and insurance costs, the market for Knightsbridge'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 or
political events, and other important factors described from time to time in the
reports filed by Knightsbridge with the Securities and Exchange Commission.
This announcement is distributed by Thomson Reuters on behalf of
Thomson Reuters clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Knightsbridge Tankers Limited via Thomson Reuters ONE
[HUG#1593354]
Unternehmensinformation / Kurzprofil:
Datum: 12.03.2012 - 17:31 Uhr
Sprache: Deutsch
News-ID 123921
Anzahl Zeichen: 4956
contact information:
Town:
Hamilton
Kategorie:
Business News
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"VLCCF - Information on charter contract for Battersea"
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