TBS International Takes Delivery of Bulk Carrier

Wednesday, February 20, 2008
TBS International Limited has taken delivery of the M.V. Mohave Maiden, formerly known as the M.V. Diasozousa, an acquisition it had announced in October 2007. The M.V. Mohave Maiden is a 1984 built, 28,074 dwt handysize bulk carrier that the Company agreed to acquire charter free for $26.0 million. With this delivery, TBS' currently fleet consists 40 multipurpose tweendecker, handymax and handysize vessels. TBS expects to take delivery of two multipurpose tweendeckers (the M.V.s Ottawa Princess and Caribe Maiden) by the end of the first quarter of 2008, and one handymax bulk carrier (M.V. Canarsie Princess) by the end of the second quarter of 2008. Once these deliveries are concluded, TBS' fleet will be comprised of 43 vessels with an aggregate of 1,268,402 dwt, consisting of 23 tweendeckers and 20 handymax/ handysize bulk carriers.
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