Commission File No. 0-29106
FORM 6-K
SECURITIES AND EXCHANGE COMMISSION
Washington, D. C. 20549
Report of Foreign Private Issuer
Pursuant to Rule 13a-16 or 15d-16 of
the Securities Exchange Act of 1934
For the month of February, 2002
KNIGHTSBRIDGE TANKERS LIMITED
(Translation of registrant's name into English)
Cedar House
41 Cedar Avenue
Hamilton HM 12
Bermuda
(Address of principal executive offices)
Indicate by check mark whether the registrant files or
will file annual reports under cover Form 20-F or Form 40-F.
Form 20-F X Form 40-F
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Indicate by check mark whether the registrant by
furnishing the information contained in this Form is also thereby
furnishing the information to the commission pursuant to Rule
12g3-2(b) under the Securities Exchange Act of 1934.
Yes No X
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Item 1. INFORMATION CONTAINED IN THIS FORM 6-K REPORT
Attached as Exhibit 1 is a copy of a letter distributed
by Knightsbridge Tankers Limited to its U.S. shareholders
containing tax information that those shareholders may need in
order to make a "QEF" election.
Item 2. ADDITIONAL INFORMATION
Royal Dutch Petroleum Company and The Shell Transport
and Trading Company, Public Limited Company file annual reports
on Form 20-F (File Nos. 1-3788 and 1-4039) and periodic reports
on Form 6-K with the Securities and Exchange Commission pursuant
to the Securities Exchange Act of 1934, as amended. Such annual
reports contain the financial statements of the Royal Dutch/Shell
Group of Companies.
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Exhibit 1
KNIGHTSBRIDGE LOGO
February 15, 2002
TO: The Shareholders of
Knightsbridge Tankers Limited
That Are United States Taxpayers
As you are aware, Knightsbridge Tankers Limited
("Knightsbridge") is a "Passive Foreign Investment Company"
("PFIC") for United States income tax purposes. The following is
a PFIC annual information statement for the taxable year of
Knightsbridge beginning on January 1, 2001 and ending on December
31, 2001. This statement is being provided so that you may
report your pro rata share of Knightsbridge's income in the event
that you have elected to treat Knightsbridge as a "qualified
electing fund" ("QEF") under the applicable provisions of the
United States Internal Revenue Code.
You should keep this statement in your records but do not
need to attach this statement to your IRS Form 8621, "Return by a
Shareholder of a Passive Foreign Investment Company or Qualified
Electing Fund". In order to assist you in completing Form 8621,
the address of Knightsbridge is: Par-la-Ville Place, 14 Par-la-
Ville Road, Hamilton HM 08, Bermuda.
Knightsbridge Tankers Limited Knightsbridge Tankers Limited
Investor Relations Registered Office
P.O. Box HM 1593 Par-la-Ville Place
Hamilton, Bermuda 14 Par-la-Ville Road
Telephone: +1 (441) 295-0182 Hamilton HM 08, Bermuda
Telefax: +1 (441) 295-3494
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PFIC Annual Information Statement
1. This Information Statement applies to the taxable year of
Knightsbridge Tankers Limited ("Knightsbridge") beginning on
January 1, 2001 and ending on December 31, 2001 (the "Taxable
Year").
2. (i) Your pro rata share of the ordinary earnings of
Knightsbridge for the Taxable Year may be determined as
follows:
(a) If you owned the same number of Knightsbridge
shares from January 1, 2001 through December 31,
2001, multiply the number of such Knightsbridge
shares by $1.584690.
(b) If you did not own Knightsbridge shares for the
entire period beginning January 1, 2001 and ending
December 31, 2001, multiply the number of shares
you owned by $1.584690, divide the result by 365,
and multiply by the number of days during 2001 that
you held such shares.*
(c) If you owned different numbers of Knightsbridge
shares at different times during 2001, perform the
calculation specified in (b) above separately for
each lot of shares owned.
(ii) Your pro rata share of the net capital gain of
Knightsbridge for the Taxable Year is zero.
3. The amount of cash and the fair market value of other
property distributed or deemed distributed by Knightsbridge
during the Taxable Year is as follows:
Cash: See note**
____________________
* For example, if you acquired 100 shares on July 1, 2001
and held them throughout the remainder of 2001, your pro
rata share of Knightsbridge's ordinary earnings would be
$79.89 (i.e., 100 shares x $1.584690 x 184/365).
** On February 9, 2001, Knightsbridge made a distribution of
$1.68 per share to shareholders of record on January 26,
2001. On May 11, 2001, Knightsbridge made a distribution
of $1.39 per share to shareholders of record on April 27,
2001. On August 9, 2001, Knightsbridge made a
distribution of $0.72 per share to shareholders of record
(footnote continued)
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Fair Market Value of Property: 0
4. Knightsbridge will permit you to inspect and copy
Knightsbridge's permanent books of account, records, and such
other documents as may be maintained by Knightsbridge to
establish that Knightsbridge's ordinary earnings and net
capital gain are computed in accordance with U.S. income tax
principles and to verify these amounts and your pro rata
shares thereof.
KNIGHTSBRIDGE TANKERS LIMITED
Date: February 15, 2002 By: /s/ Ola Lorentzon
----------------- ------------------
Name: Ola Lorentzon
Title: Chairman
THIS INFORMATION IS PROVIDED IN ORDER TO ASSIST SHAREHOLDERS IN
MAKING CALCULATIONS AND DOES NOT CONSTITUTE TAX ADVICE.
SHAREHOLDERS ARE ADVISED TO CONSULT THEIR OWN TAX ADVISORS
CONCERNING THE OVERALL TAX CONSEQUENCES OF THE OWNERSHIP OF
COMMON SHARES ARISING IN THEIR OWN PARTICULAR SITUATIONS UNDER
UNITED STATES FEDERAL, STATE, LOCAL OR FOREIGN LAW.
____________________
(footnote continued)
on July 26, 2001. On November 8, 2001, Knightsbridge made
a distribution of $0.45 per share to shareholders of
record on October 25, 2001. The total amount of these
four distributions exceeded the sum of Knightsbridge's
earnings and profits for the Taxable Year and
Knightsbridge's earnings and profits accumulated in prior
years. Accordingly, 37.375% of each distribution is a
dividend and 62.625% of each distribution is a non-taxable
return of capital.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange
Act of 1934, the registrant has duly caused this report to be
signed on its behalf by the undersigned, thereunto duly
authorized.
KNIGHTSBRIDGE TANKERS LIMITED
(registrant)
Dated: February 21, 2002 By: /s/ Ola Lorentzon
___________________________
Ola Lorentzon
Director, Deputy Chairman
and Treasurer
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01655002.AI7