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Team Tankers International Ltd.: Morten Arntzen to become Chairman

The Board of Directors of Team Tankers International Ltd. (the "Company")
today announced that it has entered into an agreement to name Morten Arntzen
as Chairman of the Company.

The agreement is subject to Mr. Arntzen being voted onto the Board of
Directors by a special general meeting. The Company will shortly summon the
shareholders to a special general meeting to take place in the Company's
office in Bermuda on or about 23 April 2015.

Concurrent with Mr. Arntzen's appointment, Mads Meldgaard will resign from his
current role as Chairman and will continue on as a director. Mr. Meldgaard
had been made the temporary Chairman following the closing of the Eitzen
Chemical restructuring in January of this year. Mr. Meldgaard will also
resign as the Managing Director of the Company, which role will be taken over
by Mr. Arntzen.

At the time the Company launched its exchange offer directed at the
shareholders of Eitzen Chemical, it was disclosed that the Board of Directors
would be expanded from six to seven directors following completion of the
exchange offer and the date of listing. Therefore, the appointment of Mr.
Arntzen as Chairman represents the completion of this process.

Mr. Arntzen has been involved in the global shipping industry continuously
since 1979 and has acted in a variety of capacities including banker,
underwriter, advisor, investor, and chief executive officer. He has worked
for or with companies all over the globe, through several shipping cycles and
in all the major shipping segments. In addition, he has substantial board
experience serving as a director for companies, including Chiquita Brands
International, Royal Caribbean Cruise Line, Overseas Shipholding Group, Essar
Shipping (India), IM Skaugen (Norway) and TBS Shipping.

"I am excited to join Team Tankers following their very successful financial
restructuring and look forward to working with the Board, Senior Management
and the employees of the Company worldwide to build a stronger and more
prosperous shipping company," said Mr. Arntzen.
April 8, 2015
The Board of Directors
Team Tankers International Ltd.
Hamilton, Bermuda

Questions should be directed to:

Jens Grønning: CEO Team Tankers Management

T: +45 3997 0300

Andreas Reklev: CFO Team Tankers Management

T: +47 9320 8886

About Team Tankers International Ltd.:

Team Tankers International Ltd. is a leading marine chemical transportation company with a total sailing fleet of forty five vessels, transporting a wide variety of cargoes such as organic chemicals, non-organic chemicals, clean and dirty petroleum products, vegetable oils and lube oils.

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

Press release PDF


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


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