TBS International Limited Takes Delivery of Handysize Bulk Carrier, M.V. Mohave Maiden

HAMILTON, BERMUDA, Feb 20, 2008 (MARKET WIRE via COMTEX News Network) -- TBS International Limited (NASDAQ: TBSI) announced that it 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.

Joseph E. Royce, Chairman, Chief Executive Officer and President, stated: "We are pleased to have taken the delivery of M.V. Mohave Maiden. This delivery has positioned our Company to further enhance our earnings potential for 2008."

About TBS International Limited
TBS is an ocean transportation services company that offers worldwide shipping solutions through liner, parcel and bulk services, and vessel chartering. TBS has developed its business around key trade routes between Latin America and China, Japan and South Korea, as well as select ports in North America, Africa, the Caribbean and the Mediterranean. TBS provides frequent regularly scheduled voyages in its network, as well as cargo scheduling, loading and discharge for its customers.

Source: TBS International Limited