ITCL - Irrevocable Notice of Charter Termination - M.T. Phoenix Voyager

Hamilton, Bermuda, September 12, 2012

Independent Tankers Corporation Limited ("ITCL") announces that Chevron Transport Corporation ("Chevron") has given six months irrevocable notice of termination of the bareboat charter for the VLCC Phoenix Voyager. The vessel will be redelivered from Chevron to ITCL in March 2013.

Independent Tankers Corporation Limited, press release