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September 04, 2015 6:02 PM ET

Marine

Company Overview of Knightsbridge Shipping Limited

Company Overview

As of March 16, 2015, Knightsbridge Shipping Limited was acquired by Frontline 2012 Ltd., 25 Capesize Vessels, in a reverse merger transaction. Knightsbridge Shipping Limited, a shipping company, engages in the seaborne transportation of dry bulk cargoes worldwide. As of October 7, 2014, it owned and operated a fleet of 27 Capesize dry bulk carriers. The company was formerly known as Knightsbridge Tankers Limited and changed its name to Knightsbridge Shipping Limited in October 2014. Knightsbridge Shipping Limited was founded in 1996 and is based in Hamilton, Bermuda.

Par-la-Ville Place

14 Par-la-Ville Road

P. O. Box HM 1593

Hamilton,  HM 08

Bermuda

Founded in 1996

25 Employees

Phone:

441-295-0182

Fax:

441-295-3494

Key Executives for Knightsbridge Shipping Limited

Knightsbridge Shipping Limited does not have any Key Executives recorded.

Knightsbridge Shipping Limited Key Developments

Knightsbridge Shipping Limited Announces Unaudited Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2014

Knightsbridge Shipping Limited announced unaudited earnings results for the fourth quarter and full year ended December 31, 2014. For the quarter, the company reported operating revenues of $36,681,000 against $13,467,000 a year ago. Net operating income was $5,884,000 against $4,198,000 a year ago. Net income from continuing operations was $5,162,000 against $3,483,000 a year ago. Net income was $5,162,000 against $3,011,000 a year ago. Basic earnings per share were $0.06 against $0.10 a year ago. Net cash provided by operating activities was $2,373,000 against $6,190,000 a year ago. Additions to new buildings were $106,905,000 against $11,116,000 a year ago. EBITDA was $13.5 million and EBITDA per share of $0.17. For the full year, the company reported operating revenues of $96,715,000 against $37,546,000 a year ago. Net operating income was $19,486,000 against $6,824,000 a year ago. Net income from continuing operations was $16,253,000 against $3,530,000 a year ago. Net income was $15,995,000 against net loss of $3,903,000 a year ago. Basic earnings per share were $0.30 against loss per basic share of $0.15 a year ago. Net cash provided by operating activities was $24,864,000 against $12,313,000 a year ago. Purchase of vessel was $24,085,000. Additions to new buildings were $357,403,000 against $26,706,000 a year ago.

Knightsbridge Shipping Limited Decides Not to Declare Dividend for the Fourth Quarter of 2014

The Board of Knightsbridge Shipping Limited has decided not to declare a dividend for the fourth quarter of 2014 due to the current market environment, which caters for a cautious approach.

Knightsbridge Shipping Limited Proposes to Adopt Amended and Restated Bye-Laws

Knightsbridge Shipping Limited has proposed to approve the adoption of the amended and restated Bye-Laws to the Special General Meeting to be held on March 26, 2015.

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Recent Private Companies Transactions

Type
Date
Target
Merger/Acquisition
October 7, 2014
Golden Ocean Group Limited, Prior to Merger with Knightsbridge Shipping Limited
 

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