Golden Ocean Group

Share Issue/Capital Change • Mar 16, 2015

VLCCF - Closing of transaction

VLCCF - Closing of transaction

Knightsbridge Shipping Limited ("Knightsbridge" or "the Company") (Nasdaq:

VLCCF) is pleased to announce that the second and final stage of its previously

announced vessel acquisition transaction with Frontline 2012 Ltd. has closed.

Knightsbridge has issued 31 million shares to Frontline 2012 Ltd. in exchange

for 12 Cape size bulk carrier newbuildings. Following this transaction,

Knightsbridge will have 111.1 million common shares outstanding.

The Board of Directors

Knightsbridge Tankers Limited

Hamilton, Bermuda

March 16, 2015

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.

This information is subject to the disclosure requirements pursuant to section

5-12 of the Norwegian Securities Trading Act.

[HUG#1903853]