Mr. Gavin Kagan, a member of the Board of Directors of-Team Tankers International Ltd. has resigned as director of the company with effect from May 20, 2015. Mr. Kagan has, in accordance with the Company's bye-laws, appointed Mr. Kevin M. Kennedy as his successor. Mr. Kennedy has been involved in the global finance and shipping industry continuously since 1987 and has acted in a variety of capacities, including banker, advisor, investor, and chief financial officer.

At present he serves as Managing Director of MC-Seamax Management LLC.