TBS International Limited Announces the Acquisition of a Handymax Bulk Carrier

HAMILTON, BERMUDA, Jun 09, 2008 (MARKET WIRE via COMTEX News Network) - TBS International Limited (NASDAQ: TBSI) announced that it has entered into an agreement to acquire the M.V. Desert Explorer, to be renamed M.V. Fox Maiden, a 1985 built, 40,902 dwt handymax bulk carrier. TBS has agreed to acquire this vessel charter free for $35.5 million with expected delivery within the third quarter of 2008.

Following this acquisition and the deliveries of the previously announced vessels, TBS' fleet will be comprised of 45 vessels with an aggregate of 1,351,621 dwt, consisting of 23 tweendeckers and a combination of 22 handymax/handysize bulk carriers.

Joseph E. Royce, Chairman, Chief Executive Officer and President, stated: "We are pleased to announce the acquisition of the M.V. Fox Maiden, which further expands our dry bulk fleet and earnings potential. We believe that this acquisition is in line with our strategy of positioning our Company to take advantage of the strong fundamentals of the industry and benefit from global demand."

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