Team Tankers Appoints Morten Arntzen as Chairman

Two years after resigning from his role as President and CEO of Overseas Shipholding Group, Morten Arntzen is back in the spotlight with his recent appointment as Chairman and Managing Director of Team Tankers International Ltd, the new ship-owning brand that has been created following the restructuring of Eitzen Chemical in January.

Concurrent with Mr. Arntzen’s appointment, Mads Meldgaard will resign from his current role as Chairman and will continue on as a director. Mr. Meldgaard had been interim Chairman following the closing of the restructuring agreement in January.

“I am excited to join Team Tankers following their very successful financial restructuring and look forward to working with the Board, Senior Management and the employees of the Company worldwide to build a stronger and more prosperous shipping company,” said Mr. Arntzen.

Mr. Arntzen has been involved in the global shipping industry continuously since 1979 and has acted in a variety of capacities including banker, underwriter, advisor, investor, and chief executive officer. He has worked for or with companies all over the globe, through several shipping cycles and in all the major shipping segments. In addition, he has substantial board experience serving as a director for companies, including Chiquita Brands International, Royal Caribbean Cruise Line, Overseas Shipholding Group, Essar Shipping (India), IM Skaugen (Norway) and TBS Shipping.

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