TBS International Limited Announces the Acquisition of a Handymax Bulk Carrier Expanding Its Fleet to 44 Vessels

HAMILTON, BERMUDA, Apr 21, 2008 (MARKET WIRE via COMTEX News Network) -- TBS International Limited (NASDAQ: TBSI) announced today that it has entered into an agreement to acquire the M.V. North Star, to be renamed the M.V. Houma Belle, a 1985 built, 42,219 dwt handymax bulk carrier. TBS agreed to acquire the vessel charter free for $34.0 million with expected delivery in June 2008.

Following this acquisition, TBS' fleet will comprise 44 vessels in total, with an aggregate of 1,310,719 dwt, consisting of 23 multipurpose tweendeckers and a combination of 21 handysize and handymax bulk carriers.

Joseph E. Royce, Chairman, Chief Executive Officer and President, stated: "We are very pleased to announce the acquisition of the M.V. Houma Belle, which expands our drybulk fleet to 21 vessels and our total fleet to 44 vessels. This acquisition reflects our strategy to identify the needs of our customers and in turn acquire a diversified fleet to meet those needs. The addition of this vessel will enhance our ability to generate strong revenues and take advantage of the strength in the shipping market."

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.

TBS International Limited