UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C.  20549

FORM 6-K

REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13A-16 OR 15D-16

OF THE SECURITIES EXCHANGE ACT OF 1934

For the month of:  August 2008

Commission File Number:  000-29106

KNIGHTSBRIDGE TANKERS LIMITED

(Translation of registrant’s name into English)

Par-la-Ville Place, 14 Par-la-Ville Road, Hamilton, HM 08  Bermuda

(Address of principal executive office)

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.

Form 20-F [X]       Form 40-F [  ]

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): ___

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)7: ___

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]

If “Yes” is marked, indicate below the file number assigned to the registrant in connection with Rule 12g3-2(b): 82-______________.

INFORMATION CONTAINED IN THIS FORM 6-K REPORT

Attached as Exhibit 1 is a copy of the press release of Knightsbridge Tankers Limited (the “Company”) dated August 12, 2008, announcing the Company’s financial results for the second quarter of 2008 and the six months ended June 30, 2008.

Exhibit 1

Knightsbridge Tankers Limited

HIGHLIGHTS

·   Knightsbridge reports net income of $14.2 million and earnings per share of $0.83 for the second quarter of 2008.

·   Knightsbridge reports net income of $29.0 million and earnings per share of $1.70 for the six months ended June 30, 2008.

·   Knightsbridge announces a cash dividend of $0.75 per share for the second quarter of 2008.

SECOND QUARTER AND SIX MONTHS RESULTS

Knightsbridge Tankers Limited (the “Company”) reports net income of $14.2 million and earnings per share of $0.83 for the second quarter of 2008. The average daily time charter equivalents (“TCEs”) earned by the Company’s four VLCCs was $58,700 compared with $55,300 in the preceding quarter. The second quarter earnings reflect the continuing strength in the tanker market and an increase in the profit share on Hampstead and Kensington.

The net decrease in cash and cash equivalents in the quarter was $0.4 million. The Company generated cash from operating activities of $14.9 million, used $2.2 million to repay debt facilities, invested $0.3 million in its newbuilding project and distributed $12.8 million in dividend payments. In August 2008, the Company has an average cash breakeven rate for its vessels of $18,700 per vessel per day compared to $18,400 in August 2007.

For the six months ended June 30, 2008 the Company reports net income of $29.0 million and earnings per share of $1.70. The average daily TCEs for the six months ended June 30, 2008 was $56,900. Net interest expense net of capitalized interest for the period was $0.4 million (2007 comparable six months: $2.8 million) due mainly to the lower net debt level.

On August 12, 2008, the Board declared a dividend of $0.75 per share. The record date for the dividend is August 22, 2008, ex dividend date is August 20, 2008 and the dividend will be paid on or about September 9, 2008.

THE MARKET

The average market rate for VLCCs from MEG to Japan in the second quarter was about WS 173 ($ 130,000 per day) compared to about WS 126 ($ 86,000 per day) in the first quarter of 2008. The third quarter started with average TCE rates for modern VLCCs, according to Clarkson, of $153,000 per day while present indications are $60,000 per day.

Bunkers at Fujairah averaged approximately $578/mt in the second quarter with a low of approximately $495/mt and a high of approximately $680/mt. The average bunker price at Fujairah so far in the third quarter is $713/mt, according to Platts, while present quotes are $657/mt.

The International Energy Agency (IEA) reported in August 2008 an average OPEC oil production, including Iraq, of 32.2 million barrels per day during the second quarter of the year, a 0.2 million barrels per day decrease from the first quarter. The next OPEC meeting is scheduled to take place on September 9, 2008.

IEA further estimates that world oil demand averaged 86.1 million barrels per day in the second quarter, a 0.8 percent decrease from the first quarter of 2008. IEA predicts that the average demand for 2008 in total will be 86.9 million barrels per day, or a 0.9 percent growth from 2007, hence showing a continued demand growth.

According to Fearnleys, the VLCC fleet totalled 486 vessels at the end of the second quarter with five deliveries during the quarter. There are 24 additional deliveries expected in 2008. The total order book amounted to 208 vessels at the end of the second quarter, up from 185 vessels after the first quarter of 2008. The current orderbook represents about 43 percent of the VLCC fleet. Seven VLCCs were deleted from the trading fleet whilst 28 VLCCs were ordered during the quarter. The single hull fleet amounted to 117 vessels at the end of the second quarter.

CORPORATE AND OUTLOOK

The Company has four VLCCs fixed on time charters expiring between 2009 and 2012 and thus its exposure to short term market fluctuations is limited.  Two of these time charters also include a profit sharing arrangement.  This contract coverage provides good long term stability and limits financial risk.

On June 4, 2007 the Company purchased two newbuilding contracts, each for a Capesize bulk carrier of approximately 170,000 deadweight tons.  These vessels are scheduled for delivery in 2009.  Both the new vessels under construction have been fixed on five year time charters from delivery in 2009 at a net rate of $40,000 and $53,000 per day, respectively.  The total investment for the newbuilding contracts is approximately $162 million of which the Company has paid $32.4 million to date. The $32.4 million has been 100 % financed through a bank facility.

August 12, 2008

The Board of Directors

Knightsbridge Tankers Limited

Hamilton, Bermuda

Questions should be directed to:

Contact:            Ola Lorentzon, Chairman, Knightsbridge Tankers Limited

+ 46 703 998886

Bjorn Sjaastad, Chief Executive Officer, Knightsbridge Tankers Limited

+ 47 906 90 130

Inger M. Klemp, Chief Financial Officer, Knightsbridge Tankers Limited

+ 47 23 11 40 76

FORWARD LOOKING STATEMENTS

Matters discussed in this press release may constitute forward-looking statements.  The Private Securities Litigation Reform Act of 1995 provides safe harbor protections for forward-looking statements in order to encourage companies to provide prospective information about their business.  Forward-looking statements 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 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. The words "believe," "except," "anticipate," "intends," "estimate," "forecast," "project," "plan," "potential," "will," "may," "should," "expect" ”pending and similar expressions identify forward-looking statements.

The forward-looking statements in this document are based upon various assumptions, many of which are based, in turn, upon further assumptions, including without limitation, our management's examination of historical operating trends, data contained in our records and other 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.

In addition to these important factors, 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 and currencies, general market conditions, including fluctuations in charterhire rates and vessel values, changes in demand in the tanker market, as a result of changes in OPEC's petroleum production levels and world wide oil consumption and storage, changes in Knightsbridge’s operating expenses, including bunker prices, drydocking and insurance costs, the market for Knightsbridge’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 or political events, and other important factors described from time to time in the reports filed by Knightsbridge with the Securities and Exchange Commission.

KNIGHTSBRIDGE TANKERS LIMITED SECOND QUARTER REPORT (UNAUDITED)

2007 Apr-Jun			2008 Apr-Jun			INCOME STATEMENT (in thousands of $)	2008 Jan-Jun			2007 Jan-Jun			2007 Jan-Dec (audited)
	19,735			21,984		Operating revenues		46,992			43,793			88,160
	-			-		Gain on sale of asset		-			-			49,119
						Operating expense
	3,060			632		Voyage expenses		3,119			7,413			12,872
	3,399			3,243		Ship operating expenses		6,784			7,434			15,544
	381			377		Administrative expenses		740			753			1,481
	4,269			3,428		Depreciation		6,856			8,490			17,016
	11,109			7,680		Total operating expenses		17,499			24,090			46,913
	8,626			14,304		Net operating income		29,493			19,703			90,366
						Other income (expenses)
	242			557		Interest income		1,330			504			1,026
	(1,627	)		(654	)	Interest expense		(1,745	)		(3,281	)		(6,373	)
	(30	)		(41	)	Other financial items		(86	)		(47	)		(183	)
	(1,415	)		(138	)	Total other expenses		(501	)		(2,824	)		(5,530	)
	7,211			14,166		Net income		28,992			16,879			84,836
$	0.42		$	0.83		Earnings per share ($)	$	1.70		$	0.99		$	4.96
$	36,800		$	58,700		Income on time charter basis ($ per day per vessel)*	$	56,900		$	40,300		$	41,700

* Basis = Calendar days less off-hire. Figures after deduction of broker commission.

BALANCE SHEET (in thousands of $)	2008 Jun 30		2007 Jun 30		2007 Dec 31 (audited)
ASSETS
Short term
Cash and cash equivalents		87,498		8,358		82,143
Restricted cash		10,000		10,000		10,000
Other current assets		10,749		8,414		15,210
Long term
Vessels, net		194,216		259,459		201,072
Newbuildings		34,224		32,423		33,459
Deferred charges		210		358		282
Total assets		336,897		319,012		342,166
LIABILITIES AND STOCKHOLDERS’ EQUITY
Short term
Short term debt and current portion of long-term debt		8,960		11,200		8,960
Other current liabilities		4,759		9,683		8,890
Long term
Long term interest bearing debt		98,560		126,000		103,040
Stockholders’ equity		224,618		172,129		221,276
Total liabilities and stockholders’ equity		336,897		319,012		342,166

2007 Apr-Jun			2008 Apr-Jun			STATEMENT OF CASHFLOWS (in thousands of $)	2008 Jan-Jun			2007 Jan-Jun			2007 Jan-Dec (audited)
						OPERATING ACTIVITIES
	7,211			14,166		Net income		28,992			16,879			84,836
						Adjustments to reconcile net income to net cash provided by operating activities
	4,286			3,464		Depreciation and amortization		6,928			8,524			17,164
	-			-		Gain on sale of asset		-			-			(49,119	)
	4,239			(2,686	)	Change in operating assets and liabilities		331			2,894			(4,695	)
	15,736			14,944		Net cash provided by operating activities		36,251			28,297			48,186
						INVESTING ACTIVITIES
	(32,423	)		(289	)	Additions to newbuildings		(766	)		(32,423	)		(33,459	)
	-			-		Proceeds from disposal of asset		-			-			98,980
	(32,423	)		(289	)	Net cash (used in) provided by investing activities		(766	)		(32,423	)		65,521
						FINANCING ACTIVITIES
	33,600			-		Proceeds from long-term debt and credit facilities		-			33,600			33,600
	(2,800	)		(2,240	)	Repayments of long-term debt and credit facilities		(4,480	)		(5,611	)		(30,811	)
	(10,260	)		(12,825	)	Dividends paid		(25,650	)		(23,940	)		(42,750	)
	(103	)		-		Debt finance costs		-			(103	)		(141	)
	20,437			(15,065	)	Net cash (used in) provided by financing activities		(30,130	)		3,946			(40,102	)
	3,750			(410	)	Net increase (decrease) in cash and cash equivalents		5,355			(180	)		73,605
	4,608			87,908		Cash and cash equivalents at start of period		82,143			8,538			8,538
	8,358			87,498		Cash and cash equivalents at end of period		87,498			8,358			82,143

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:  August 13, 2008	By:	/s/  Georgina Sousa
		Georgina Sousa Secretary

SK 01655 0002 910582