ITCL - Extension of Charters

02.08.2010

Independent Tankers Corporation Limited announces that BP Shipping Limited has extended the charters for the VLCCs British Purpose and British Pride for one additional year. As a result, the British Purpose will trade on a market rate with a minimum of $20,000 per day from mid July 2010 until mid July 2012.

British Pride will continue on a bareboat rate of $24,895 per day until the fixed period ends in July 2011 followed by a market rate with a minimum of $20,000 per day until the end of July 2012.

Independent Tankers Corporation Limited