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2016-02-26

Team Tankers International Ltd.: 4th Quarter 2015 results

Team Tankers International Ltd. (OSE: TEAM) reported an EBITDA for the 4th
quarter of $17.4 million, compared with $19.6 million in the 3rd quarter of
2015 (Q4'14: $6.9 million). Net profit in the 4th quarter of 2015 was $4.9
million, compared with a net profit of $7.4 million in the 3rd quarter (net
loss of $114.1 million in Q4'14). The average time charter equivalent rate
for the fleet increased to $14,168 per day in the 4th quarter, compared with
$13,975 in the previous quarter.

The market conditions from the 4th quarter are expected to continue in the 1st
quarter of 2016.

In the 4th quarter, the Company completed the acquisition of the Sichem
Amethyst and the Sichem Contester, previously chartered in on time charter
agreements. Two of the Company's older and smaller ships, the Sichem Houston
and the Sichem Fumi, which no longer fit with our fleet focus, were sold. To
continue to build scale in our European regional stainless steel fleet, the
Company committed to acquire the Southern Zebra, a 8,900 dwt stainless steel
chemical tanker. Delivery is expected in March 2016. In the 4th quarter, the
Company took delivery of one IMO2 MR on a one-year time charter. As part of
our growth strategy in the regional coated ship class, the Company acquired
two ships, and took delivery of two ships on time charter in this class
subsequent to quarter end. The Company recognized a net gain of $0.3 million
in the 4th quarter from ship transactions.

Following the quarter end, the Company sold the 20,000 dwt stainless steel
ship the North Fighter, and agreed to sell two 3,500 dwt stainless steel
ships, the Sichem Colibri and the Sichem Sparrow. The Company expects to
record a $0.3 million gain from the sale of the North Fighter. Further, the
Company committed to acquire the Sichem Mumbai, a 13,000 dwt epoxy coated
ship currently on a bareboat charter to the Company.

"Since rolling out our focused growth strategy in November 2015, we have
completed or committed to 12 vessel transactions, adding 7 vessels in our key
ship classes and disposing of 5 non-core vessels," commented Hans Feringa,
CEO of Team Tankers. "The 5 sales, which generated $42 million in proceeds,
were all done at or around the estimated fair market value of these vessels
and lend strong support for published estimates of the total market value of
our fleet," added Feringa.

The Company appointed Mr. Kevin Kilcullen as Chief Financial Officer. Mr.
Kilcullen comes from the position of Chief Financial Officer of Principal
Maritime in Southport, Connecticut. The Company will move its corporate and
group reporting activities from Oslo, Norway to the Head Office in Westport,
Connecticut USA.

Forward looking statements

This press release may contain forward-looking statements. These statements
are based upon various assumptions, many of which are based, in turn, upon
further assumptions, including Team Tankers International's management's
examination of historical operating trends. Although Team Tankers
International believes that these assumptions were reasonable when made,
because assumptions are inherently subject to significant uncertainties and
contingencies, which are difficult or impossible to predict and are beyond
its control, the Company cannot give assurance that it will achieve or
accomplish these expectations, beliefs or intentions.

Important factors that, in the Company's view, could cause actual results to
differ materially from those discussed in this report include the strength of
world economies and currencies, general market conditions including
fluctuations in charter hire rates and vessel values, changes in demand in
the chemical tanker market, changes in the Company's operating expenses
including bunker prices, dry-docking and insurance costs, 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 the Company.
Neither Team Tankers International nor any other person assumes
responsibility for the accuracy and completeness of the forward-looking
statements.

The Board of Directors
Team Tankers International Ltd.
Hamilton, Bermuda

Questions should be directed to:

Hans Feringa: President and CEO
T: +1 203 341 3600

About Team Tankers International Ltd.:
Team Tankers International Ltd. is a leading chemical tanker company committed
to providing safe, reliable and incident free transport services to our
worldwide customer base. The Company transports a wide variety of cargoes
including organic chemicals, non-organic chemicals, petroleum products,
vegetable oils and lube oils. Team Tankers International Ltd. is listed on
the Oslo Stock Exchange (OSE: TEAM).

This information is subject of the disclosure requirements pursuant to section
5-12 of the Norwegian Securities Trading Act.

TEAM Q4 2015 Report
http://hugin.info/166973/R/1989721/730794.pdf

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This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Team Tankers International Ltd. via Globenewswire

HUG#1989721

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