TBS Buys $16.1m Ship Carrier

Monday, October 30, 2006
According to reports, TBS International Ltd., an ocean transportation services company, has acquired a bulk ship carrier for $16.1m. The handymax bulk carrier will be able to carry anywhere between 35,000 tons to 50,000 tons. The ship, to be renamed M/V Alabama Bell, is expected to be delivered to TBS between Nov. 20 and Dec. 5.

The purchase of Alabama Bell will expand TBS's fleet to 34 vessels. Shares of TBS dropped 1 cent to $8.09 on the Nasdaq in late morning trading. Source: AP

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