Knightsbridge Tankers Limited (Knightsbridge) is an international tanker company with the primary business activity of international seaborne transportation of crude oil. The Company's fleet consists of four double-hull very large crude oil carriers (VLCCs), one of which was built in 1996 and three of which were built in 1995. Each of the Vessels is owned by a subsidiary and is deployed on time charters operating worldwide. In addition to the VLCCs, Knightsbridge has contracted to acquire two Capesize bulk carriers under construction. Knightsbridge entered into agreements for the construction of two Capesize dry bulk carriers, each with a cargo-carrying capacity of approximately 170,000 deadweight ton, with Daehan Shipbuilding Co Ltd in the Republic of Korea.