reports
Team Tankers International Ltd. : Resignation of Directors
Team Tankers International Ltd. : Resignation of Directors With reference to the press release as of 5 August 2020, Team Tankers International Ltd. will be delisted from the Oslo Stock Exchange from 1 October 2020. The last day of listing will be 30 September 2020. As part of the delisting of the Company, three independent members of the Board of Directors have resigned as Directors of the Company with effect from today: Mr. Kevin Kennedy, Mr. Mads Meldgaard and Mr. Jesper Bo Hansen. Team Tankers International extends its thanks and appreciation to Mr. Kennedy, Mr. Meldgaar...
Team Tankers International Ltd. : 2nd Quarter 2020 Results
Team Tankers International Ltd. : 2nd Quarter 2020 Results August 27, 2020 Team Tankers International Ltd. Announces 2nd Quarter 2020 Results 2nd Quarter 2020 results Team Tankers International Ltd. (OSE: TEAM) reported EBITDA for the 2nd quarter of $21.7 million, compared with $16.5 million in the 1st quarter of 2020 (Q2'19: $11.8 million). Net loss in the 2nd quarter of 2020 was $2.4 million, compared with a net income of $1.4 million in the 1st quarter of 2020 (Q2'19 net loss: $17.4 million). The average time charter equivalent rate for the fleet was $14,667 per day this ...
Team Tankers International Ltd. : Application for delisting approved b...
Team Tankers International Ltd. : Application for delisting approved by the Oslo Stock Exchange - last day of listing will be 30 September 2020 The Company's application for delisting its common shares from the Oslo Stock Exchange (the "OSE") was today approved by the OSE. According to the OSE resolution, the shares in Team Tankers International Ltd. will be delisted from the Oslo Stock Exchange from 1 October 2020. The last day of listing will be 30 September 2020. The Board of Directors Team Tankers International Ltd. Hamilton, Bermuda Questions should be dire...
Team Tankers International Ltd. : Application for delisting submitted ...
Team Tankers International Ltd. : Application for delisting submitted to the Oslo Stock Exchange and Q2 2020 trading update In accordance with the results of the Special General Meeting (the "SGM"), the Company has today submitted an application for delisting to the Oslo Stock Exchange (the "OSE"). The Company cannot predict whether the OSE will grant the Company’s request to delist its common shares from the OSE, but in light of the reasons supporting a delisting, we believe that the Company’s request to delist will be accepted. The Company has, in connection ...
Team Tankers International Ltd. : Special General Meeting 2020
Team Tankers International Ltd. : Special General Meeting 2020 The Special General Meeting of Team Tankers International Ltd. was held today, 13 July 2020, at Clarendon House, 2 Church Street, Hamilton HM11, Bermuda.All resolutions were adopted in accordance with the proposal set out in the notice of the meeting distributed on 12 June 2020. The minutes of the Special General Meeting are attached hereto. This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act Attachment ...
Team Tankers International Ltd. : New Director
Team Tankers International Ltd. : New Director Tom Higbie, a member of the Board of Directors of Team Tankers International Ltd. (the "Company") has resigned as Director of the Company with effect from today. Mr. Scott Martin has, in accordance with the Company's bye-laws, been appointed as a Director of the Company with effect from today, as Tom Higbie's successor. Mr. Scott Martin is a Partner and Portfolio Manager at Solus Alternative Asset Management LP. Mr. Martin joined Solus in 2012. He previously Co-Headed Deutsche Bank’s Distressed Products Group in the Americas and has ...
Team Tankers International Ltd.: Proposal to delist from the Oslo Stoc...
Team Tankers International Ltd.: Proposal to delist from the Oslo Stock Exchange The board of Team Tankers International Ltd. (the “Board”) has decided to call for a Special General Meeting (“SGM”) to be held on July 13, 2020 in Hamilton, Bermuda for the purpose of considering a proposal to delist the Company’s common shares from the Oslo Stock Exchange (“OSE”) and to authorise any director or officer of the Company to take all actions in relation thereto. The Board has concluded that the Company’s shares are no longer considered suitable for continued listing, and there are limited ...
Team Tankers International Ltd.: Distribution of Shares to CFO
Team Tankers International Ltd.: Distribution of Shares to CFO As previously announced on 18 April 2019, 23 December 2020 and 10 January 2020, Mr. Jens Gisle Schnelle, CFO of Team Tankers International Ltd. (the "Company"), has on certain conditions been granted equity awards in the Company as a part of his incentive program. Mr. Schnelle has today received 330,000 shares (the "Vested Shares") and 200,000 options have vested (the "Vested Options"). The Vested Options have an exercise price of NOK 6.00 and expires 14 May 2021. Mr. Schnelle has not paid any cash consideration for the Veste...
Team Tankers International Ltd. : 1st Quarter 2020 Results
Team Tankers International Ltd. : 1st Quarter 2020 Results May 12, 2020 Team Tankers International Ltd. Announces 1st Quarter 2020 Results 1st Quarter 2020 results Team Tankers International Ltd. (OSE: TEAM) reported EBITDA for the 1st quarter of $16.5 million, compared with $15.8 million in the 4th quarter of 2019 (Q1'19: $14.0 million). Net income in the 1st quarter of 2020 was $1.4 million, compared with a net loss of $9.7 million in the 4th quarter of 2019 (net loss of $4.8 million excluding a $4.9 million vessel impairment charge recognized in the quarter; Q1'19 net loss: $7.9 m...
Team Tankers International Ltd. : Annual General Meeting 2020
Team Tankers International Ltd. : Annual General Meeting 2020 The Annual General Meeting of Team Tankers International Ltd. was held today, 11 May 2020, at Clarendon House, 2 Church Street, Hamilton HM11, Bermuda.All resolutions were adopted in accordance with the proposals set out in the notice of the meeting distributed on 17 April 2020.The minutes of the Annual General Meeting are attached hereto. This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act Attachment
Team Tankers International Ltd. : Notice of Annual General Meeting 202...
Team Tankers International Ltd. : Notice of Annual General Meeting 2020 The 2020 Annual General Meeting for Team Tankers International Ltd. will be held on May 11, 2020 in Hamilton, Bermuda. A copy of the Notice is attached and is also available on our website: The Board of Directors Team Tankers International Ltd. Hamilton, Bermuda Questions should be directed to: Hans Feringa: President and CEO T: Jens Gisle Schnelle: CFO T: This information is subject to the disclosure requirements pursuant ...
Team Tankers International Ltd. : Annual Report 2019
Team Tankers International Ltd. : Annual Report 2019 The Board of Directors of Team Tankers International Ltd. has approved the Company's Annual Report for 2019. The report is attached hereto and can also be downloaded from the Company's website: The Board of Directors Team Tankers International Ltd. Hamilton, Bermuda Questions should be directed to: Hans Feringa, President and CEO T: Jens Gisle Schnelle, CFO T: This information is subject to the disclosure requirements pursu...
Team Tankers International Ltd.: Announces a Joint Venture with V.Grou...
Team Tankers International Ltd.: Announces a Joint Venture with V.Group. Team Tankers International Ltd. (“Team”) is pleased to announce a joint venture (“JV”) with ship management specialist V.Group, whereby Team will transfer its in-house managed fleet, consisting of ten MRs and two 25k coated vessels, to the JV, along with its on shore technical organization and seafaring expertise. Team already has 21 ships with V.Group for technical management. Team will own 30% and V.Group 70% of the JV, Dania Ship Management AS Denmark, which will continue to be based in Copenhagen, although addi...
Team Tankers International and Maersk Tankers enter strategic partners...
Team Tankers International and Maersk Tankers enter strategic partnership covering 27 vessels. Team Tankers International’s strong position within chemical tankers and Maersk Tankers’ industry-leading commercial management have been brought together in a new cooperation. With this, Maersk Tankers takes over the commercial management of 27 tankers from Team Tankers International, and establishes two new pools. The cooperation will contribute to both companies’ strategies. Team Tankers International will gain access to Maersk Tankers’ digital approach to commercial management, wit...
Team Tankers International Ltd.: Announces Share Grant
Team Tankers International Ltd.: Announces Share Grant Team Tankers International (the “Company”) has today granted 544,000 restricted shares to key employees, of which 220,000 to primary insiders, (“Restricted Shares“) and granted to the Executive Management Team an award of options to purchase 1,000,000 shares in the Company (“Options”). The Restricted Shares shall vest in January 2021 subject to continued employment. The Options have an exercise price of NOK 6; 200,000 options shall vest on 15 July 2020 subject to continued employment and 800,000 options shall vest on 31 January 2021 sub...
Team Tankers International Ltd.: Announces Share Grant
Team Tankers International Ltd.: Announces Share Grant Team Tankers International (“TEAM”) has granted 674,000 restricted shares to key employees, of which 350,000 to primary insiders. 130,000 shares shall vest in July 2020 and 544,000 shares shall vest in December 2020 subject to continued employment. The following primary insiders were granted share awards: Mr. Jens Gisle Schnelle has been granted 130,000 restricted shares in the Company. The awards shall vest in July 2020 subject to continued employment. After this grant, Mr. Schnelle holds (1) 1,075 shares in the Company and (2)...
Team Tankers International Ltd.: Announces Share Repurchase Program an...
Team Tankers International Ltd.: Announces Share Repurchase Program and Strategic Advisors November 21, 2019 Team Tankers International Ltd. Announces Share Repurchase Program and Strategic Advisors The Company has hired strategic advisors to support corporate activity, M&A and divestment opportunities and provide strategic advice to maximize the value of the platform and the assets. The Company has made it clear both in the 2nd and 3rd quarter 2019 press release that it has recently sold a significant number of assets at prices well above what was implied by th...
Team Tankers International Ltd.: 3rd Quarter 2019 Results
Team Tankers International Ltd.: 3rd Quarter 2019 Results November 15, 2019 Team Tankers International Ltd. Announces 3rd Quarter 2019 Results 3rd Quarter 2019 results Team Tankers International Ltd. (OSE: TEAM) reported EBITDA for the 3rd quarter of $13.4 million, compared with $11.8 million in the 2nd quarter of 2019 (Q3'18: $0.7 million). Net loss in the 3rd quarter of 2019 was $15.1 million, compared with a net loss of $17.4 million in the 2nd quarter of 2019 (Q3'18 net loss: $14.5 million). The average time charter equivalent rate for the fleet was $11,406 per da...
Team Tankers International Ltd.: 3rd Quarter 2019 Earnings Call Annou...
Team Tankers International Ltd.: 3rd Quarter 2019 Earnings Call Announcement Team Tankers International Ltd. will host a call to announce 3rd quarter 2019 earnings results on 15 November 2019 at 16:00 CET (10:00am ET). Connection details are as follows: Web Link: Participant Passcode: 9337370 Dial-numbers: LocationPurposePhone TypePhone NumberDenmarkDial-inTollfree/Freephone80 70 16 25Denmark, CopenhagenDial-inLocal NorwayDial-inTollfree/Freephone800 51084Norway, OsloDial-inLocal SingaporeDial-inTollfree/Freephone800 186 5107Singapore, SingaporeDial-inLocal SpainDial-inT...
Team Tankers International Ltd.: Distribution of Shares to President a...
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) th...
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