TBS International Takes Delivery of Bulk Carrier

TBS International Limited announced that it has taken delivery of its the M.V. Arapaho Belle, formerly the M.V. Elsa Oldendorff, an acquisition that it had announced in July 2007. The M.V. Arapaho Belle is a 1998 built, 24,021 dwt handysize bulk carrier the Company agreed to acquire charter free for $29m. With the delivery of the M.V. Arapaho Belle, TBS' current fleet consists of 36 multipurpose, handymax and handysize vessels. TBS expects to take delivery of three additional handysize bulk carriers (the MVs Oneida Princess, Mohave Maiden, and Zuni Princess) and one multipurpose tweendecker (the M.V. Hopi Princess) by the end of first quarter 2008.