Nicolas Borkmann (Class B Director) serves as a Director. Mr. Borkmann is a partner of ACM Shipping Ltd., London; he joint ACM in 2000 as a senior broker, where his responsibilities include competitive shipbroking for tankers both in respect of chartering of all sizes, as well as in the S&P market for large ships, and the wet freight derivative broking activities of ACM. Prior to joining ACM, Mr. Borkmann was a commercial director of Frachtcontor Junge & Co, Hamburg from 1996 to 1999, where he was responsible for shipbroking for tankers and commercial management and chartering of tankers and combination carriers. Mr. Borkmann also serves as a Director in three insurance funds based in the UK, the Worldscale Association (London) and the London Tanker Brokers' Panel.