SOURCE: TBS INTERNATIONAL PLC

TBS International plc

August 03, 2011 12:15 ET

TBS International plc Announces Dates for the Release of the Second Quarter 2011 Results, Conference Call and Webcast

Earnings Release: Monday, August 8, 2011, After the Market Closes; Conference Call: Tuesday, August 9, 2011, at 8:30 a.m. EDT

DUBLIN, IRELAND--(Marketwire - Aug 3, 2011) - TBS International plc (NASDAQ: TBSI) announced today that it will release its results for the second quarter and six months ended June 30, 2011 after the market closes in New York on Monday, August 8, 2011.

On the next day, Tuesday, August 9, 2011 at 8:30 a.m. EDT, the company's management will host a conference call to discuss the results.

Conference call details:
Participants should dial into the call 10 minutes before the scheduled time using the following numbers: 1-888-680-0894 (from the US) or 1-617-213-4860 (International Dial In). Participant Passcode: 66535312. Participants may pre-register for the call at https://www.theconferencingservice.com/prereg/key.process?key=PQKDM4DDP. Pre-registrants will be issued a PIN number to use when dialing into the live call which will provide quick access to the conference by bypassing the operator upon connection.

Webcast
There will also be a live -- and then archived -- slides and audio webcast of the conference call on the company's website www.tbsship.com, which can be accessed by clicking on the webcast link. As soon as practicable, the webcast and the corresponding slides will be archived and will also be accessible on our website.

Replay
A telephonic replay of the conference call will be available from 11:30 a.m. EDT on Tuesday, August 9, 2011 until Tuesday, August 16, 2011 by dialing 1-888-286-8010 (from the US) or 1-617-801-6888 (International Dial In). Access Code: 22115377. A replay of the webcast will be available soon after the completion of the call.

Forward-Looking Statements "Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995

This press release contains forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on management's current expectations and observations.

Included among the factors that, in the Company's view, could cause actual results to differ materially from the forward-looking statements contained in this press release are the following:

  • the effects of severe and rapid declines in industry conditions that have required the Company to restructure its outstanding indebtedness;
  • the Company's ability to manage and repay its substantial indebtedness;
  • the Company's ability to maintain financial ratios and comply with the financial covenants in its credit facilities;
  • the Company's ability to continue to operate as a going concern;
  • the Company's ability to effectively operate its business and manage its growth while complying with operating covenants in its credit facilities;
  • the Company's ability to generate the significant amounts of cash necessary to service its debt obligations;
  • very high volatility in the Company's revenues and costs, including volatility caused by increasing oil prices;
  • excess supplies of dry bulk vessels in all classes and resulting heavy pressure on freight rates;
  • adverse weather conditions that may significantly decrease the volume of many dry bulk cargoes;
  • the stability and continued growth of the Asian and Latin American economies and rising inflation in China;
  • the Company's vessels exceeding their economic useful life and the risks associated with operating older vessels;
  • the Company's ability to grow its vessel fleet and effectively manage its growth;
  • impairments of the Company's long lived assets or goodwill;
  • compliance with environmental laws and regulations and the implementation of new environmental laws and regulations;
  • other factors that are described in the "Risk Factors" sections of the Company's reports filed with the Securities and Exchange Commission.

About TBS International plc:
TBS provides worldwide shipping solutions to a diverse client base of industrial shippers through its Five Star Service: ocean transportation, projects, operations, port services and strategic planning. The TBS shipping network operates liner, parcel and dry bulk services, supported by a fleet of multipurpose tweendeckers and handysize/handymax bulk carriers, including specialized heavy-lift vessels and newbuild tonnage. TBS has developed its franchise 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 Middle East. Visit our website at http://www.tbsship.com.

Contact Information

  • For more information, please contact:
    Ferdinand V. Lepere
    Senior Executive Vice President and Chief Financial Officer
    TBS International plc
    Tel. 914-961-1000
    InvestorRequest@tbsship.com

    Investor Relations / Media:
    Nicolas Bornozis
    Capital Link, Inc. New York
    Tel. 212-661-7566
    E-mail: tbs@capitallink.com