Knightsbridge Tankers Limited (VLCCF) – Extends Forward Time Charter Cover
19.03.2007

Knightsbridge Tankers Limited (VLCCF) – Extends Forward Time Charter Cover
Knightsbridge Tankers Limited (“Knightsbridge” or the “Company”) is pleased to announce that it has entered into a new time charter agreement for the very large crude carrier, (“VLCC”) MT Mayfair. The ship is currently trading in the spot market, and will commence the new time charter employment directly after the current voyage in end of March 2007.
The Mayfair has been chartered to a Far East based operator for a period of three years at a rate of USD 45,000 per day.
The Mayfair has been chartered to a Far East based operator for a period of three years at a rate of USD 45,000 per day.
The Board of Knightsbridge Tankers believes that the new charter will serve the Company well as it continues to secure income into the next decade at levels considerably in excess of the companies required return of capital.
In addition to the VLCC discussed above, Knightsbridge Tankers owns one VLCC which is time chartered out at a fixed rate of USD 30,000 until 2009. Two further VLCCs are fixed on 4 and 5 years period charters at USD 37,750 plus 50 % trading profit above that level. The fifth vessel is trading in the spot market.
The aggregate value of the fixed charters in our fleet is now around USD 200 million. While four out of our five vessels now have fixed income in the coming years, protecting downside risk, three of the five units continue to have the ability to take advantage of market upside. The cash break even cost for the vessels including loan interest and instalments were by end of last quarter USD 18,000 per day. This arrangement thereby secures a continued high dividend payment to shareholders with potential for further upside in a positive market scenario.
NEWS
GOGL – Company Presentation, September 2023
2023, September 21
EVENT
Quarterly Report Q3 2023
2023, September 11
NEWS
GOGL – Q2 2023 Presentation
2023, August 29
NEWS
GOGL – Second Quarter 2023 Results
2023, August 29
NEWS
GOGL – Invitation to presentation of Q2 2023 Results
2023, August 22
NEWS
GOGL – Transactions made under the buy-back program
2023, July 24
NEWS
GOGL – Transactions made under the buy-back program
2023, July 17
NEWS
GOGL – Transactions made under the buy-back program
2023, July 10
NEWS
GOGL – Transactions made under the buy-back program
2023, June 27
NEWS
GOGL – Company Presentation, June 2023
2023, June 22
NEWS
GOGL – Transactions made under the buy-back program
2023, June 19
NEWS
GOGL – Transactions made under the buy-back program
2023, June 9
EVENT
Quarterly Report Q2 2023
2023, June 7
NEWS
GOGL – Transactions made under the buy-back program
2023, May 30
NEWS
GOGL – Q1 2023 Presentation
2023, May 16
NEWS
GOGL – First Quarter 2023 Results
2023, May 16
NEWS
GOGL – 2023 AGM Results Notification
2023, May 8
EVENT
Quarterly Report Q1 2023
2023, May 8
NEWS
GOGL – Invitation to presentation of Q1 2023 Results
2023, May 8
NEWS