TBS International Limited Takes Delivery of a Handysize Bulk Carrier Expanding Its Operational Fleet to 37 Vessels

News was prepared under the information support of Online Daily Newspaper on Hellenic and international Shipping "Hellenic Shipping News".

31 Jan 2008

TBS International Limited announced that it has taken delivery of the M.V. Zuni Princess, formally the M.V. Ypermachos, a 1984 built, 28,166 dwt handysize bulk carrier. TBS had agreed to acquire this vessel charter free for $26.0 million in October 2007. With the delivery of the M.V. Zuni Princess, TBS' current fleet consists of 37 multipurpose tweendecker, handymax and handysize vessels. TBS expects to take delivery of two additional handysize bulk carriers (the MVs Oneida Princess and Mohave Maiden) and three multipurpose tweendeckers (the MVs Hopi Princess, Ottawa Princess and Caribe Maiden) by end of the first quarter of 2008. Once these deliveries are concluded, TBS' fleet will be comprised of 42 vessels with an aggregate of 1,224,523 dwt, consisting of 23 tweendeckers and 19 handymax / handysize bulk carriers. Joseph E. Royce, Chairman, Chief Executive Officer and President, stated: "We are pleased to add the M.V. Zuni Princess to our operational fleet, our first delivery of this year. With this delivery and consistent with our strategy, we have strengthened our position to take advantage of the growing demand in the industry."