Hunter Group ASA - Commercial Manager Selected

Oslo, 11 September 2019

Hunter Tankers AS (the «Company»), a wholly owned subsidiary of Hunter Group ASA, is pleased to announce that it, after careful consideration, has selected Tankers International Ltd as commercial manager for its fleet of VLCCs. Tankers International Ltd. («TI») will establish the world’s first scrubber-fitted VLCC pool (the «Scrubber Pool»).  In addition to the Hunter vessels the pool will consist of vessels from Hartree Maritime Partners Ltd., International Seaways Inc., Oak Maritime (HK) Inc., and Ridgebury Tankers.

The Scrubber Pool will consist exclusively of modern scrubber-fitted VLCCs operated and maintained to the highest standards and will, combined with TI’s existing VLCC pools, represent the largest VLCC fleet in the world with more than 70 VLCCs on a fully delivered basis.  The creation of the Scrubber Pool will maximize the Company’s earnings potential through access to a large scale operation with a strong independent management team, while simultaneously retaining 100% of expected scrubber fuel savings.

Contact:

Erik A.S. Frydendal, CEO, ef@huntergroup.no, Ph.: +47 957 72 947

Lars M. Brynildsrud, CFO, lb@huntergroup.no, Ph.: +47 932 60 882

This information is subject to disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.