HAMILTON, BERMUDA--(Marketwire - October 15, 2007) - TBS International Limited (NASDAQ: TBSI)
announced today that it has taken delivery of the M.V. Yakima Princess (ex
M.V. Yakima).
The M.V. Yakima Princess is a 42,475 dwt handymax bulk carrier and was
built in 1990. With the delivery of the M.V. Yakima Princess, TBS's fleet
currently consists of 34 multipurpose, handymax and handysize vessels.
Furthermore, TBS expects to take delivery of three additional handysize
bulk carriers, which it has agreed to acquire, the M.V. Arapaho Belle, the
M.V. Savannah Belle, and the M.V. Oneida Princess, between now and January
2008.
Joseph E. Royce, Chairman, Chief Executive Officer and President, stated:
"With the delivery of the M.V. Yakima Princess we expand our operational
fleet to 34 vessels, and look forward to the delivery of three more bulk
carriers in the next three months. This enhances our operational
flexibility and enables us to accommodate the needs of our expanding
customer base at a time of robust economic activity around the world."
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
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