No Knightsbridge sale

John Fredriksen-controlled interests are not selling shares in Knightsbridge Tankers despite a regulatory filing earlier this week that may have confused some investors.

The Fredriksen entities are merely registering shares acquired earlier this year to make them eligible to change hands in the future, but there are no current plans to sell.

Fredriksen's Frontline 2012 registered 15.5m Knightsbridge shares, while Fredriksen private holding company Hemen registered 3.1m.

The 18.6m shares came to the two entities in March as part of a deal for Knightsbridge to acquire five capesize bulkers from the companies.

Knightsbridge's share price has dipped since the disclosure, possibly as a result of some misunderstanding the nature of the filing.