TBS International Limited Expands Fleet

TBS International Limited an ocean transportation services company that offers worldwide shipping solutions through liner, parcel and bulk transportation services, announced today that it has taken delivery of the M.V. Seminole Princess (ex M.V. Clipper Flamingo), a vessel it had previously agreed to acquire. The M.V. Seminole Princess, 29,516 dwt, was built in 1997 at the Dalian Shipyard. With the delivery of the M.V. Seminole Princess, the TBS fleet currently consists of 32 multipurpose, handymax and handysize vessels. Between November 20 and December 5, 2006, TBS expects to take delivery of two additional bulk carriers that it has agreed to acquire, further expanding its fleet to 34 vessels. These two vessels are the M.V. Laguna Belle (ex M.V. Clipper Frontier), a 29,458 dwt 1996-built handysize bulk carrier, and the M.V. Alabama Belle, (ex M.V. Aliki), a 41,808 dwt 1986-built handymax bulk carrier.