TBS Takes Delivery of Handymax

TBS International Limited has taken delivery of the M.V. Tupi Maiden, formerly known as the M.V. Ken Blossom, an acquisition it announced in June 2008. The M.V. Tupi Maiden is a 1992 built, 38,852 dwt handymax bulk carrier that the Company agreed to acquire charter free for $44.0 million.

With this delivery, TBS' current fleet consists of 45 multipurpose tweendecker, handymax and handysize vessels. TBS expects to take delivery of one more handymax bulk carrier (M.V. Fox Maiden) by the end of Q3 2008. Once this delivery is concluded, TBS' fleet will be comprised of 46 vessels with an aggregate of 1,390,473 dwt, consisting of 23 tweendeckers and 23 handymax/ handysize bulk carriers.