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 June 30, 2020. Mr. Scott Martin has, in accordance with the Company's bye-laws, been appointed as a Director of the Company with effect from June 30, 2020, 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 more than 24 years of financial industry experience in the high yield and distressed credit markets.