TBS Buys $16.1m Ship Carrier
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