Business

Team Tankers International ranks among the 10 largest chemical tanker operators in the world[1], based on number of vessels in its fleet. With an average fleet age of less than ten years, Team Tankers International operates a young and modern chemical tanker fleet. Of the vessels operated by the Company, 30 are currently owned through subsidiaries in Bermuda and Singapore. 9 vessels are chartered in on time charter or bareboat contracts, most of them with purchase options. The vessels which are chartered in are classified as financial (1) or operating (8) leases in the Company's financial statements. 

Team Tankers International has long term relationships with many of its customers. The term business coverage, measured in earnings, was 33 per cent for 2016, with the CoA cover at 24 per cent and time charter cover at 9 per cent. CoAs typically have minimum and maximum volumes. The CoA contracts typically have a firm duration of one year at a time and are subject to annual re-negotiations, but some of the CoAs have firm periods lasting up to five years. 

[1] Source: http://www.ktrmaritime.com/

Who

Team Tankers International Ltd. is a leading chemical tanker company committed to providing safe, reliable and incident free transport services to our worldwide customer base. The Company transports a wide variety of cargoes including organic chemicals, non-organic chemicals, petroleum products, vegetable oils and lube oils. Team Tankers International Ltd. is listed on the Oslo Stock Exchange (OB: TEAM).

Where

Team Tankers International head office is located in Bermuda and the corporate headquarter is located in Westport, Connecticut, USA. The Company is listed on the Oslo Stock Exchange (OSE).

Our vessels are commercially operated through offices in Denmark, Spain, USA and Singapore. The commercial offices communicate on a common IT platform, which includes global voyage management and communication systems to ensure that commercial activities are co-ordinated and optimised between the various commercial offices.

The technical management of the owned vessels is handled by V. Ships Management and ASP Ship Management. Team Tankers International believes in sincere and honest business partnerships.

What

Team Tankers International transports a wide variety of cargoes such as organic chemicals, non-organic chemicals, clean and dirty petroleum products, vegetable oils and lube oils. The fleet consists of 39 coated and stainless steel vessels ranging from 3,500 to 48,000 dwt, primarily designed for the transport of IMO II classified chemical cargoes. The vessels are employed in the spot market or chartered out through time-charter agreements or Contracts of Affreightment (CoAs).

Chemical tanker vessels are mainly used for cost-efficient long-distance bulk transportation of organic chemicals, inorganic chemicals, vegetable oils and animal fats. In addition, miscellaneous cargoes such as molasses, lube oils and refined petroleum products, e.g. gasoline and jet fuel, can be transported with chemical tanker vessels.