Contact Information: For more information, please contact: Company Contact: Ferdinand V. Lepere Executive Vice President and Chief Financial Officer TBS International Limited Tel. 914-961-1000 InvestorRequest@tbsship.com Investor Relations / Media: Nicolas Bornozis Capital Link, Inc. New York Tel. 212-661-7566 E-mail: nbornozis@capitallink.com
TBS International Limited Takes Delivery of Handysize Bulk Carrier, M.V. Arapaho Belle
| Source: TBS International Limited
HAMILTON, BERMUDA--(Marketwire - November 26, 2007) - TBS International Limited (NASDAQ : TBSI )
announced today that it has taken delivery of its the M.V. Arapaho Belle,
formerly the M.V. Elsa Oldendorff, an acquisition that it had announced in
July 2007.
The M.V. Arapaho Belle is a 1998 built, 24,021 dwt handysize bulk carrier
the Company agreed to acquire charter free for $29.0 million. With the
delivery of the M.V. Arapaho Belle, TBS' current fleet consists of 36
multipurpose, handymax and handysize vessels. TBS expects to take delivery
of three additional handysize bulk carriers (the MVs Oneida Princess,
Mohave Maiden, and Zuni Princess) and one multipurpose tweendecker (the
M.V. Hopi Princess) by the end of first quarter 2008.
Joseph E. Royce, Chairman, Chief Executive Officer and President, stated:
"In line with our strategy, the delivery of the M.V. Arapaho Belle
continues to emphasize our continued commitment to increase our
participation in this strong shipping market thereby better serving our
customer base."
About TBS International Limited
TBS is an ocean transportation services company that offers worldwide
shipping solutions through liner, parcel and bulk services, and vessel
chartering. TBS has developed its business around key trade routes between
Latin America and China, Japan and South Korea, as well as select ports in
North America, Africa, the Caribbean and the Mediterranean. TBS provides
frequent regularly scheduled voyages in its network, as well as cargo
scheduling, loading and discharge for its customers.
Forward-Looking Statements
This news release contains forward-looking statements within the meaning of
the Private Securities Litigation Reform Act of 1995. You are hereby
cautioned that these statements may be affected by certain factors, among
others, set forth below and in TBS's filings with the Securities and
Exchange Commission, and consequently, actual operations and results may
differ materially from the results discussed in the forward-looking
statements. Among the factors that could cause actual results to differ
materially from those indicated by forward-looking statements is the
ability of the buyer and seller of the vessel to satisfy customary
conditions to our obligation to purchase the vessel. Other factors that
could affect TBS's operations and results are discussed in TBS's filings
with the Securities and Exchange Commission. TBS undertakes no obligation
to update any forward-looking statements, whether as a result of new
information, future events, or otherwise.
Visit our website at www.tbsship.com