Team Tankers International Ltd.: Distribution of Shares to President and CEO

As previously announced on 1 September 2015, Mr. Hans Feringa, President and CEO of Team Tankers International Ltd. (the "Company"), has on certain conditions been granted equity awards in the Company as a part of his long term incentive program. Mr.  Feringa has today received 282,723 shares (net post tax) (the "Vested Shares"). 

Mr. Feringa has not paid any cash consideration for the Vested Shares. Following the distribution of the Vested Shares, Mr. Feringa holds (1) 1,602,097 shares in the Company, (2) the right to acquire 2,000,000 restricted shares in the Company, and (3) options to acquire 4,500,000 shares in the Company.

The Company has issued to date a total of 209,578,173 shares of which 3,162,512 shares are held by the Company as treasury shares.

The Board of Directors

Team Tankers International Ltd.

Hamilton, Bermuda

Questions should be directed to:

Hans Feringa: President and CEO

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Jens Gisle Schnelle: CFO

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