TBS International Takes Delivery of Its Fourth Newbuild Roymar Class Multipurpose Tweendecker and Expands Fleet to 50 Vessels
News Release
TBS International Limited Bermuda
January 7, 2011
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<TD vAlign=top><SPAN class=ccbnTtl>TBS International Takes Delivery of Its
Fourth Newbuild Roymar Class Multipurpose Tweendecker and Expands Fleet to
50 Vessels</SPAN></TD></TR>
<TR class=ccbnBgTxt>
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<P>DUBLIN, IRELAND, Jan 05, 2011 (MARKETWIRE via COMTEX) --
<P>TBS International plc (NASDAQ: TBSI) announced today that it has taken
delivery of the newly-constructed vessel M/V Omaha Belle from China
Communications Construction Company Ltd./ Nantong Yahua Shipbuilding Group
Co., Ltd. </P>
<P></P>
<P>The M/V Omaha Belle is the fourth in a series of six "Roymar Class"
34,000 dwt multipurpose tweendecker vessels that the Company ordered at a
purchase price of $35.4 million per vessel. TBS expects to take delivery
of the remaining two vessels by the third quarter of 2011. The Company has
in place the requisite bank financing for these vessels. </P>
<P>With the delivery of the M/V Omaha Belle, TBS's current fleet expands
to 50 vessels with an aggregate of 1.51 million dwt, consisting of 28
tweendeckers and 22 handymax/ handysize bulk carriers. </P>
<P>Joseph E. Royce, Chairman, Chief Executive Officer and President,
commented: "We are pleased to have taken delivery of our fourth newbuild
Roymar Class tweendecker, the M/V Omaha Belle, thereby expanding our
operational fleet to 50 vessels. The addition of this vessel to our fleet
further increases our operational flexibility, enhances our cargo
transportation abilities and supports the requirements of our expanding
customer base." </P>
<P>Forward-Looking Statements "Safe Harbor" Statement under the Private
Securities Litigation Reform Act of 1995 </P>
<P>This press release contains forward-looking statements made pursuant to
the safe harbor provisions of the Private Securities Litigation Reform Act
of 1995. These forward-looking statements are based on management's
current expectations and observations. </P>
<P>Included among the factors that, in the Company's view, could cause
actual results to differ materially from the forward looking statements
contained in this press release are the following: </P><PRE>-- the Company's ability to reach agreements with its lenders to amend
its credit facilities and its ability to obtain waivers of, or cure,
defaults under its credit facilities;
-- the Company's ability to maintain financial ratios and comply with the
financial covenants required by its credit facilities as amended;
-- the Company's ability to finance its operations and raise additional
capital on commercially reasonable terms or at all;
-- changes in demand for and pricing of the Company's services, both of
which are difficult to predict due to continuing economic uncertainty;
-- the effect of a decline in vessel valuations;
-- changes in rules and regulations applicable to the shipping industry,
including legislation adopted by international organizations such as
the International Maritime Organization and the European Union or by
individual countries;
-- actions taken by regulatory authorities;
-- changes in trading patterns, which may significantly affect overall
vessel tonnage requirements;
-- changes in the typical seasonal variations in charter rates;
-- volatility in costs, including changes in production of or demand for
oil and petroleum products, crew wages, insurance, provisions, repairs
and maintenance, generally or in particular regions;
-- additional material declines or continued weakness in shipping rates;
-- changes in general domestic and international political conditions;
-- changes in the condition of the Company's vessels or applicable
maintenance or regulatory standards which may affect, among other
things, the Company's anticipated drydocking or maintenance and repair
costs;
-- increases in the cost of the Company's drydocking program or delays in
its anticipated drydocking schedule;
-- China Communications Construction Company Ltd./Nantong Yahua
Shipbuilding Group Co., Ltd.'s ability to complete and deliver the
remaining multipurpose tweendeckers on the anticipated schedule and
the ability of the parties to satisfy the conditions in the
shipbuilding agreements;
-- the possible effects of pending and future legislation in the United
States that may limit or eliminate potential U.S. tax benefits
resulting from the Company's jurisdiction of incorporation;
-- Irish corporate governance and regulatory requirements which could
prove different or more challenging than currently expected; and
-- other factors that are described in the "Risk Factors" sections of the
Company's reports filed with the Securities and Exchange Commission.
</PRE>
<P>About TBS International plc: TBS provides worldwide shipping solutions
to a diverse client base of industrial shippers. Through the TBS Five Star
Service consisting of ocean transportation, operations, port services,
projects, and strategic planning, TBS delivers high-quality customer
service. The TBS shipping network operates liner, parcel and dry bulk
services, supported by a fleet of multipurpose tweendeckers and handysize/
handymax bulk carriers, including specialized heavy-lift vessels and
newbuild tonnage. 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 Middle East. Visit
our website at www.tbsship.com </P><PRE>For more information, please contact:
Company Contact:
Ferdinand V. Lepere
Senior Executive Vice President and Chief Financial Officer
TBS International plc
Tel. 1-914-961-1000
InvestorRequest@tbsship.com
Investor Relations / Media:
Nicolas Bornozis
Capital Link, Inc. New York
Tel. 1-212-661-7566
E-mail: tbs@capitallink.com
</PRE>
<P>SOURCE: TBS INTERNATIONAL PLC </P><PRE>mailto:InvestorRequest@tbsship.com
mailto:tbs@capitallink.com
</PRE></SPAN></TD></TR></TBODY></TABLE>
<TABLE border=0 cellSpacing=1 cellPadding=3 width="100%">
<TBODY>
<TR class=ccbnBgTtl>
<TD vAlign=top><SPAN class=ccbnTtl>TBS International Takes Delivery of Its
Fourth Newbuild Roymar Class Multipurpose Tweendecker and Expands Fleet to
50 Vessels</SPAN></TD></TR>
<TR class=ccbnBgTxt>
<TD vAlign=top><SPAN class=ccbnTxt>
<P>DUBLIN, IRELAND, Jan 05, 2011 (MARKETWIRE via COMTEX) --
<P>TBS International plc (NASDAQ: TBSI) announced today that it has taken
delivery of the newly-constructed vessel M/V Omaha Belle from China
Communications Construction Company Ltd./ Nantong Yahua Shipbuilding Group
Co., Ltd. </P>
<P></P>
<P>The M/V Omaha Belle is the fourth in a series of six "Roymar Class"
34,000 dwt multipurpose tweendecker vessels that the Company ordered at a
purchase price of $35.4 million per vessel. TBS expects to take delivery
of the remaining two vessels by the third quarter of 2011. The Company has
in place the requisite bank financing for these vessels. </P>
<P>With the delivery of the M/V Omaha Belle, TBS's current fleet expands
to 50 vessels with an aggregate of 1.51 million dwt, consisting of 28
tweendeckers and 22 handymax/ handysize bulk carriers. </P>
<P>Joseph E. Royce, Chairman, Chief Executive Officer and President,
commented: "We are pleased to have taken delivery of our fourth newbuild
Roymar Class tweendecker, the M/V Omaha Belle, thereby expanding our
operational fleet to 50 vessels. The addition of this vessel to our fleet
further increases our operational flexibility, enhances our cargo
transportation abilities and supports the requirements of our expanding
customer base." </P>
<P>Forward-Looking Statements "Safe Harbor" Statement under the Private
Securities Litigation Reform Act of 1995 </P>
<P>This press release contains forward-looking statements made pursuant to
the safe harbor provisions of the Private Securities Litigation Reform Act
of 1995. These forward-looking statements are based on management's
current expectations and observations. </P>
<P>Included among the factors that, in the Company's view, could cause
actual results to differ materially from the forward looking statements
contained in this press release are the following: </P><PRE>-- the Company's ability to reach agreements with its lenders to amend
its credit facilities and its ability to obtain waivers of, or cure,
defaults under its credit facilities;
-- the Company's ability to maintain financial ratios and comply with the
financial covenants required by its credit facilities as amended;
-- the Company's ability to finance its operations and raise additional
capital on commercially reasonable terms or at all;
-- changes in demand for and pricing of the Company's services, both of
which are difficult to predict due to continuing economic uncertainty;
-- the effect of a decline in vessel valuations;
-- changes in rules and regulations applicable to the shipping industry,
including legislation adopted by international organizations such as
the International Maritime Organization and the European Union or by
individual countries;
-- actions taken by regulatory authorities;
-- changes in trading patterns, which may significantly affect overall
vessel tonnage requirements;
-- changes in the typical seasonal variations in charter rates;
-- volatility in costs, including changes in production of or demand for
oil and petroleum products, crew wages, insurance, provisions, repairs
and maintenance, generally or in particular regions;
-- additional material declines or continued weakness in shipping rates;
-- changes in general domestic and international political conditions;
-- changes in the condition of the Company's vessels or applicable
maintenance or regulatory standards which may affect, among other
things, the Company's anticipated drydocking or maintenance and repair
costs;
-- increases in the cost of the Company's drydocking program or delays in
its anticipated drydocking schedule;
-- China Communications Construction Company Ltd./Nantong Yahua
Shipbuilding Group Co., Ltd.'s ability to complete and deliver the
remaining multipurpose tweendeckers on the anticipated schedule and
the ability of the parties to satisfy the conditions in the
shipbuilding agreements;
-- the possible effects of pending and future legislation in the United
States that may limit or eliminate potential U.S. tax benefits
resulting from the Company's jurisdiction of incorporation;
-- Irish corporate governance and regulatory requirements which could
prove different or more challenging than currently expected; and
-- other factors that are described in the "Risk Factors" sections of the
Company's reports filed with the Securities and Exchange Commission.
</PRE>
<P>About TBS International plc: TBS provides worldwide shipping solutions
to a diverse client base of industrial shippers. Through the TBS Five Star
Service consisting of ocean transportation, operations, port services,
projects, and strategic planning, TBS delivers high-quality customer
service. The TBS shipping network operates liner, parcel and dry bulk
services, supported by a fleet of multipurpose tweendeckers and handysize/
handymax bulk carriers, including specialized heavy-lift vessels and
newbuild tonnage. 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 Middle East. Visit
our website at www.tbsship.com </P><PRE>For more information, please contact:
Company Contact:
Ferdinand V. Lepere
Senior Executive Vice President and Chief Financial Officer
TBS International plc
Tel. 1-914-961-1000
InvestorRequest@tbsship.com
Investor Relations / Media:
Nicolas Bornozis
Capital Link, Inc. New York
Tel. 1-212-661-7566
E-mail: tbs@capitallink.com
</PRE>
<P>SOURCE: TBS INTERNATIONAL PLC </P><PRE>mailto:InvestorRequest@tbsship.com
mailto:tbs@capitallink.com
</PRE></SPAN></TD></TR></TBODY></TABLE><SPAN class=ccbnTxt>
<P>DUBLIN, IRELAND, Jan 05, 2011 (MARKETWIRE via COMTEX) --
<P>TBS International plc (NASDAQ: TBSI) announced today that it has taken
delivery of the newly-constructed vessel M/V Omaha Belle from China
Communications Construction Company Ltd./ Nantong Yahua Shipbuilding Group Co.,
Ltd. </P>
<P></P>
<P>The M/V Omaha Belle is the fourth in a series of six "Roymar Class" 34,000
dwt multipurpose tweendecker vessels that the Company ordered at a purchase
price of $35.4 million per vessel. TBS expects to take delivery of the remaining
two vessels by the third quarter of 2011. The Company has in place the requisite
bank financing for these vessels. </P>
<P>With the delivery of the M/V Omaha Belle, TBS's current fleet expands to 50
vessels with an aggregate of 1.51 million dwt, consisting of 28 tweendeckers and
22 handymax/ handysize bulk carriers. </P>
<P>Joseph E. Royce, Chairman, Chief Executive Officer and President, commented:
"We are pleased to have taken delivery of our fourth newbuild Roymar Class
tweendecker, the M/V Omaha Belle, thereby expanding our operational fleet to 50
vessels. The addition of this vessel to our fleet further increases our
operational flexibility, enhances our cargo transportation abilities and
supports the requirements of our expanding customer base." </P>
<P>Forward-Looking Statements "Safe Harbor" Statement under the Private
Securities Litigation Reform Act of 1995 </P>
<P>This press release contains forward-looking statements made pursuant to the
safe harbor provisions of the Private Securities Litigation Reform Act of 1995.
These forward-looking statements are based on management's current expectations
and observations. </P>
<P>Included among the factors that, in the Company's view, could cause actual
results to differ materially from the forward looking statements contained in
this press release are the following: </P><PRE>-- the Company's ability to reach agreements with its lenders to amend
its credit facilities and its ability to obtain waivers of, or cure,
defaults under its credit facilities;
-- the Company's ability to maintain financial ratios and comply with the
financial covenants required by its credit facilities as amended;
-- the Company's ability to finance its operations and raise additional
capital on commercially reasonable terms or at all;
-- changes in demand for and pricing of the Company's services, both of
which are difficult to predict due to continuing economic uncertainty;
-- the effect of a decline in vessel valuations;
-- changes in rules and regulations applicable to the shipping industry,
including legislation adopted by international organizations such as
the International Maritime Organization and the European Union or by
individual countries;
-- actions taken by regulatory authorities;
-- changes in trading patterns, which may significantly affect overall
vessel tonnage requirements;
-- changes in the typical seasonal variations in charter rates;
-- volatility in costs, including changes in production of or demand for
oil and petroleum products, crew wages, insurance, provisions, repairs
and maintenance, generally or in particular regions;
-- additional material declines or continued weakness in shipping rates;
-- changes in general domestic and international political conditions;
-- changes in the condition of the Company's vessels or applicable
maintenance or regulatory standards which may affect, among other
things, the Company's anticipated drydocking or maintenance and repair
costs;
-- increases in the cost of the Company's drydocking program or delays in
its anticipated drydocking schedule;
-- China Communications Construction Company Ltd./Nantong Yahua
Shipbuilding Group Co., Ltd.'s ability to complete and deliver the
remaining multipurpose tweendeckers on the anticipated schedule and
the ability of the parties to satisfy the conditions in the
shipbuilding agreements;
-- the possible effects of pending and future legislation in the United
States that may limit or eliminate potential U.S. tax benefits
resulting from the Company's jurisdiction of incorporation;
-- Irish corporate governance and regulatory requirements which could
prove different or more challenging than currently expected; and
-- other factors that are described in the "Risk Factors" sections of the
Company's reports filed with the Securities and Exchange Commission.
</PRE>
<P>About TBS International plc: TBS provides worldwide shipping solutions to a
diverse client base of industrial shippers. Through the TBS Five Star Service
consisting of ocean transportation, operations, port services, projects, and
strategic planning, TBS delivers high-quality customer service. The TBS shipping
network operates liner, parcel and dry bulk services, supported by a fleet of
multipurpose tweendeckers and handysize/ handymax bulk carriers, including
specialized heavy-lift vessels and newbuild tonnage. 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 Middle East. Visit our website at www.tbsship.com </P></SPAN><BR
style="CLEAR: both">
<TABLE border=0 cellSpacing=1 cellPadding=3 width="100%">
<TBODY>
<TR class=ccbnBgTtl>
<TD vAlign=top><SPAN class=ccbnTtl>TBS International Takes Delivery of Its
Fourth Newbuild Roymar Class Multipurpose Tweendecker and Expands Fleet to
50 Vessels</SPAN></TD></TR>
<TR class=ccbnBgTxt>
<TD vAlign=top><SPAN class=ccbnTxt>
<P>DUBLIN, IRELAND, Jan 05, 2011 (MARKETWIRE via COMTEX) --
<P>TBS International plc (NASDAQ: TBSI) announced today that it has taken
delivery of the newly-constructed vessel M/V Omaha Belle from China
Communications Construction Company Ltd./ Nantong Yahua Shipbuilding Group
Co., Ltd. </P>
<P></P>
<P>The M/V Omaha Belle is the fourth in a series of six "Roymar Class"
34,000 dwt multipurpose tweendecker vessels that the Company ordered at a
purchase price of $35.4 million per vessel. TBS expects to take delivery
of the remaining two vessels by the third quarter of 2011. The Company has
in place the requisite bank financing for these vessels. </P>
<P>With the delivery of the M/V Omaha Belle, TBS's current fleet expands
to 50 vessels with an aggregate of 1.51 million dwt, consisting of 28
tweendeckers and 22 handymax/ handysize bulk carriers. </P>
<P>Joseph E. Royce, Chairman, Chief Executive Officer and President,
commented: "We are pleased to have taken delivery of our fourth newbuild
Roymar Class tweendecker, the M/V Omaha Belle, thereby expanding our
operational fleet to 50 vessels. The addition of this vessel to our fleet
further increases our operational flexibility, enhances our cargo
transportation abilities and supports the requirements of our expanding
customer base." </P>
<P>Forward-Looking Statements "Safe Harbor" Statement under the Private
Securities Litigation Reform Act of 1995 </P>
<P>This press release contains forward-looking statements made pursuant to
the safe harbor provisions of the Private Securities Litigation Reform Act
of 1995. These forward-looking statements are based on management's
current expectations and observations. </P>
<P>Included among the factors that, in the Company's view, could cause
actual results to differ materially from the forward looking statements
contained in this press release are the following: </P><PRE>-- the Company's ability to reach agreements with its lenders to amend
its credit facilities and its ability to obtain waivers of, or cure,
defaults under its credit facilities;
-- the Company's ability to maintain financial ratios and comply with the
financial covenants required by its credit facilities as amended;
-- the Company's ability to finance its operations and raise additional
capital on commercially reasonable terms or at all;
-- changes in demand for and pricing of the Company's services, both of
which are difficult to predict due to continuing economic uncertainty;
-- the effect of a decline in vessel valuations;
-- changes in rules and regulations applicable to the shipping industry,
including legislation adopted by international organizations such as
the International Maritime Organization and the European Union or by
individual countries;
-- actions taken by regulatory authorities;
-- changes in trading patterns, which may significantly affect overall
vessel tonnage requirements;
-- changes in the typical seasonal variations in charter rates;
-- volatility in costs, including changes in production of or demand for
oil and petroleum products, crew wages, insurance, provisions, repairs
and maintenance, generally or in particular regions;
-- additional material declines or continued weakness in shipping rates;
-- changes in general domestic and international political conditions;
-- changes in the condition of the Company's vessels or applicable
maintenance or regulatory standards which may affect, among other
things, the Company's anticipated drydocking or maintenance and repair
costs;
-- increases in the cost of the Company's drydocking program or delays in
its anticipated drydocking schedule;
-- China Communications Construction Company Ltd./Nantong Yahua
Shipbuilding Group Co., Ltd.'s ability to complete and deliver the
remaining multipurpose tweendeckers on the anticipated schedule and
the ability of the parties to satisfy the conditions in the
shipbuilding agreements;
-- the possible effects of pending and future legislation in the United
States that may limit or eliminate potential U.S. tax benefits
resulting from the Company's jurisdiction of incorporation;
-- Irish corporate governance and regulatory requirements which could
prove different or more challenging than currently expected; and
-- other factors that are described in the "Risk Factors" sections of the
Company's reports filed with the Securities and Exchange Commission.
</PRE>
<P>About TBS International plc: TBS provides worldwide shipping solutions
to a diverse client base of industrial shippers. Through the TBS Five Star
Service consisting of ocean transportation, operations, port services,
projects, and strategic planning, TBS delivers high-quality customer
service. The TBS shipping network operates liner, parcel and dry bulk
services, supported by a fleet of multipurpose tweendeckers and handysize/
handymax bulk carriers, including specialized heavy-lift vessels and
newbuild tonnage. 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 Middle East. Visit
our website at www.tbsship.com </P><PRE>For more information, please contact:
Company Contact:
Ferdinand V. Lepere
Senior Executive Vice President and Chief Financial Officer
TBS International plc
Tel. 1-914-961-1000
InvestorRequest@tbsship.com
Investor Relations / Media:
Nicolas Bornozis
Capital Link, Inc. New York
Tel. 1-212-661-7566
E-mail: tbs@capitallink.com
</PRE>
<P>SOURCE: TBS INTERNATIONAL PLC </P><PRE>mailto:InvestorRequest@tbsship.com
mailto:tbs@capitallink.com
</PRE></SPAN></TD></TR></TBODY></TABLE><BR style="CLEAR: both">
<TABLE border=0 cellSpacing=1 cellPadding=3 width="100%">
<TBODY>
<TR class=ccbnBgTtl>
<TD vAlign=top><SPAN class=ccbnTtl>TBS International Takes Delivery of Its
Fourth Newbuild Roymar Class Multipurpose Tweendecker and Expands Fleet to
50 Vessels</SPAN></TD></TR>
<TR class=ccbnBgTxt>
<TD vAlign=top><SPAN class=ccbnTxt>
<P>DUBLIN, IRELAND, Jan 05, 2011 (MARKETWIRE via COMTEX) --
<P>TBS International plc (NASDAQ: TBSI) announced today that it has taken
delivery of the newly-constructed vessel M/V Omaha Belle from China
Communications Construction Company Ltd./ Nantong Yahua Shipbuilding Group
Co., Ltd. </P>
<P></P>
<P>The M/V Omaha Belle is the fourth in a series of six "Roymar Class"
34,000 dwt multipurpose tweendecker vessels that the Company ordered at a
purchase price of $35.4 million per vessel. TBS expects to take delivery
of the remaining two vessels by the third quarter of 2011. The Company has
in place the requisite bank financing for these vessels. </P>
<P>With the delivery of the M/V Omaha Belle, TBS's current fleet expands
to 50 vessels with an aggregate of 1.51 million dwt, consisting of 28
tweendeckers and 22 handymax/ handysize bulk carriers. </P>
<P>Joseph E. Royce, Chairman, Chief Executive Officer and President,
commented: "We are pleased to have taken delivery of our fourth newbuild
Roymar Class tweendecker, the M/V Omaha Belle, thereby expanding our
operational fleet to 50 vessels. The addition of this vessel to our fleet
further increases our operational flexibility, enhances our cargo
transportation abilities and supports the requirements of our expanding
customer base." </P>
<P>Forward-Looking Statements "Safe Harbor" Statement under the Private
Securities Litigation Reform Act of 1995 </P>
<P>This press release contains forward-looking statements made pursuant to
the safe harbor provisions of the Private Securities Litigation Reform Act
of 1995. These forward-looking statements are based on management's
current expectations and observations. </P>
<P>Included among the factors that, in the Company's view, could cause
actual results to differ materially from the forward looking statements
contained in this press release are the following: </P><PRE>-- the Company's ability to reach agreements with its lenders to amend
its credit facilities and its ability to obtain waivers of, or cure,
defaults under its credit facilities;
-- the Company's ability to maintain financial ratios and comply with the
financial covenants required by its credit facilities as amended;
-- the Company's ability to finance its operations and raise additional
capital on commercially reasonable terms or at all;
-- changes in demand for and pricing of the Company's services, both of
which are difficult to predict due to continuing economic uncertainty;
-- the effect of a decline in vessel valuations;
-- changes in rules and regulations applicable to the shipping industry,
including legislation adopted by international organizations such as
the International Maritime Organization and the European Union or by
individual countries;
-- actions taken by regulatory authorities;
-- changes in trading patterns, which may significantly affect overall
vessel tonnage requirements;
-- changes in the typical seasonal variations in charter rates;
-- volatility in costs, including changes in production of or demand for
oil and petroleum products, crew wages, insurance, provisions, repairs
and maintenance, generally or in particular regions;
-- additional material declines or continued weakness in shipping rates;
-- changes in general domestic and international political conditions;
-- changes in the condition of the Company's vessels or applicable
maintenance or regulatory standards which may affect, among other
things, the Company's anticipated drydocking or maintenance and repair
costs;
-- increases in the cost of the Company's drydocking program or delays in
its anticipated drydocking schedule;
-- China Communications Construction Company Ltd./Nantong Yahua
Shipbuilding Group Co., Ltd.'s ability to complete and deliver the
remaining multipurpose tweendeckers on the anticipated schedule and
the ability of the parties to satisfy the conditions in the
shipbuilding agreements;
-- the possible effects of pending and future legislation in the United
States that may limit or eliminate potential U.S. tax benefits
resulting from the Company's jurisdiction of incorporation;
-- Irish corporate governance and regulatory requirements which could
prove different or more challenging than currently expected; and
-- other factors that are described in the "Risk Factors" sections of the
Company's reports filed with the Securities and Exchange Commission.
</PRE>
<P>About TBS International plc: TBS provides worldwide shipping solutions
to a diverse client base of industrial shippers. Through the TBS Five Star
Service consisting of ocean transportation, operations, port services,
projects, and strategic planning, TBS delivers high-quality customer
service. The TBS shipping network operates liner, parcel and dry bulk
services, supported by a fleet of multipurpose tweendeckers and handysize/
handymax bulk carriers, including specialized heavy-lift vessels and
newbuild tonnage. 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 Middle East. Visit
our website at www.tbsship.com </P><PRE>For more information, please contact:
Company Contact:
Ferdinand V. Lepere
Senior Executive Vice President and Chief Financial Officer
TBS International plc
Tel. 1-914-961-1000
InvestorRequest@tbsship.com
Investor Relations / Media:
Nicolas Bornozis
Capital Link, Inc. New York
Tel. 1-212-661-7566
E-mail: tbs@capitallink.com
</PRE>
<P>SOURCE: TBS INTERNATIONAL PLC </P><PRE>mailto:InvestorRequest@tbsship.com
mailto:tbs@capitallink.com
</PRE></SPAN></TD></TR></TBODY></TABLE><BR style="CLEAR: both"><BR
style="CLEAR: both"></DIV></BODY></HTML>
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<TR class=ccbnBgTtl>
<TD vAlign=top><SPAN class=ccbnTtl>TBS International Takes Delivery of Its
Fourth Newbuild Roymar Class Multipurpose Tweendecker and Expands Fleet to
50 Vessels</SPAN></TD></TR>
<TR class=ccbnBgTxt>
<TD vAlign=top><SPAN class=ccbnTxt>
<P>DUBLIN, IRELAND, Jan 05, 2011 (MARKETWIRE via COMTEX) --
<P>TBS International plc (NASDAQ: TBSI) announced today that it has taken
delivery of the newly-constructed vessel M/V Omaha Belle from China
Communications Construction Company Ltd./ Nantong Yahua Shipbuilding Group
Co., Ltd. </P>
<P></P>
<P>The M/V Omaha Belle is the fourth in a series of six "Roymar Class"
34,000 dwt multipurpose tweendecker vessels that the Company ordered at a
purchase price of $35.4 million per vessel. TBS expects to take delivery
of the remaining two vessels by the third quarter of 2011. The Company has
in place the requisite bank financing for these vessels. </P>
<P>With the delivery of the M/V Omaha Belle, TBS's current fleet expands
to 50 vessels with an aggregate of 1.51 million dwt, consisting of 28
tweendeckers and 22 handymax/ handysize bulk carriers. </P>
<P>Joseph E. Royce, Chairman, Chief Executive Officer and President,
commented: "We are pleased to have taken delivery of our fourth newbuild
Roymar Class tweendecker, the M/V Omaha Belle, thereby expanding our
operational fleet to 50 vessels. The addition of this vessel to our fleet
further increases our operational flexibility, enhances our cargo
transportation abilities and supports the requirements of our expanding
customer base." </P>
<P>Forward-Looking Statements "Safe Harbor" Statement under the Private
Securities Litigation Reform Act of 1995 </P>
<P>This press release contains forward-looking statements made pursuant to
the safe harbor provisions of the Private Securities Litigation Reform Act
of 1995. These forward-looking statements are based on management's
current expectations and observations. </P>
<P>Included among the factors that, in the Company's view, could cause
actual results to differ materially from the forward looking statements
contained in this press release are the following: </P><PRE>-- the Company's ability to reach agreements with its lenders to amend
its credit facilities and its ability to obtain waivers of, or cure,
defaults under its credit facilities;
-- the Company's ability to maintain financial ratios and comply with the
financial covenants required by its credit facilities as amended;
-- the Company's ability to finance its operations and raise additional
capital on commercially reasonable terms or at all;
-- changes in demand for and pricing of the Company's services, both of
which are difficult to predict due to continuing economic uncertainty;
-- the effect of a decline in vessel valuations;
-- changes in rules and regulations applicable to the shipping industry,
including legislation adopted by international organizations such as
the International Maritime Organization and the European Union or by
individual countries;
-- actions taken by regulatory authorities;
-- changes in trading patterns, which may significantly affect overall
vessel tonnage requirements;
-- changes in the typical seasonal variations in charter rates;
-- volatility in costs, including changes in production of or demand for
oil and petroleum products, crew wages, insurance, provisions, repairs
and maintenance, generally or in particular regions;
-- additional material declines or continued weakness in shipping rates;
-- changes in general domestic and international political conditions;
-- changes in the condition of the Company's vessels or applicable
maintenance or regulatory standards which may affect, among other
things, the Company's anticipated drydocking or maintenance and repair
costs;
-- increases in the cost of the Company's drydocking program or delays in
its anticipated drydocking schedule;
-- China Communications Construction Company Ltd./Nantong Yahua
Shipbuilding Group Co., Ltd.'s ability to complete and deliver the
remaining multipurpose tweendeckers on the anticipated schedule and
the ability of the parties to satisfy the conditions in the
shipbuilding agreements;
-- the possible effects of pending and future legislation in the United
States that may limit or eliminate potential U.S. tax benefits
resulting from the Company's jurisdiction of incorporation;
-- Irish corporate governance and regulatory requirements which could
prove different or more challenging than currently expected; and
-- other factors that are described in the "Risk Factors" sections of the
Company's reports filed with the Securities and Exchange Commission.
</PRE>
<P>About TBS International plc: TBS provides worldwide shipping solutions
to a diverse client base of industrial shippers. Through the TBS Five Star
Service consisting of ocean transportation, operations, port services,
projects, and strategic planning, TBS delivers high-quality customer
service. The TBS shipping network operates liner, parcel and dry bulk
services, supported by a fleet of multipurpose tweendeckers and handysize/
handymax bulk carriers, including specialized heavy-lift vessels and
newbuild tonnage. 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 Middle East. Visit
our website at www.tbsship.com </P><PRE>For more information, please contact:
Company Contact:
Ferdinand V. Lepere
Senior Executive Vice President and Chief Financial Officer
TBS International plc
Tel. 1-914-961-1000
InvestorRequest@tbsship.com
Investor Relations / Media:
Nicolas Bornozis
Capital Link, Inc. New York
Tel. 1-212-661-7566
E-mail: tbs@capitallink.com
</PRE>
<P>SOURCE: TBS INTERNATIONAL PLC </P><PRE>mailto:InvestorRequest@tbsship.com
mailto:tbs@capitallink.com
</PRE></SPAN></TD></TR></TBODY></TABLE>
<TABLE border=0 cellSpacing=1 cellPadding=3 width="100%">
<TBODY>
<TR class=ccbnBgTtl>
<TD vAlign=top><SPAN class=ccbnTtl>TBS International Takes Delivery of Its
Fourth Newbuild Roymar Class Multipurpose Tweendecker and Expands Fleet to
50 Vessels</SPAN></TD></TR>
<TR class=ccbnBgTxt>
<TD vAlign=top><SPAN class=ccbnTxt>
<P>DUBLIN, IRELAND, Jan 05, 2011 (MARKETWIRE via COMTEX) --
<P>TBS International plc (NASDAQ: TBSI) announced today that it has taken
delivery of the newly-constructed vessel M/V Omaha Belle from China
Communications Construction Company Ltd./ Nantong Yahua Shipbuilding Group
Co., Ltd. </P>
<P></P>
<P>The M/V Omaha Belle is the fourth in a series of six "Roymar Class"
34,000 dwt multipurpose tweendecker vessels that the Company ordered at a
purchase price of $35.4 million per vessel. TBS expects to take delivery
of the remaining two vessels by the third quarter of 2011. The Company has
in place the requisite bank financing for these vessels. </P>
<P>With the delivery of the M/V Omaha Belle, TBS's current fleet expands
to 50 vessels with an aggregate of 1.51 million dwt, consisting of 28
tweendeckers and 22 handymax/ handysize bulk carriers. </P>
<P>Joseph E. Royce, Chairman, Chief Executive Officer and President,
commented: "We are pleased to have taken delivery of our fourth newbuild
Roymar Class tweendecker, the M/V Omaha Belle, thereby expanding our
operational fleet to 50 vessels. The addition of this vessel to our fleet
further increases our operational flexibility, enhances our cargo
transportation abilities and supports the requirements of our expanding
customer base." </P>
<P>Forward-Looking Statements "Safe Harbor" Statement under the Private
Securities Litigation Reform Act of 1995 </P>
<P>This press release contains forward-looking statements made pursuant to
the safe harbor provisions of the Private Securities Litigation Reform Act
of 1995. These forward-looking statements are based on management's
current expectations and observations. </P>
<P>Included among the factors that, in the Company's view, could cause
actual results to differ materially from the forward looking statements
contained in this press release are the following: </P><PRE>-- the Company's ability to reach agreements with its lenders to amend
its credit facilities and its ability to obtain waivers of, or cure,
defaults under its credit facilities;
-- the Company's ability to maintain financial ratios and comply with the
financial covenants required by its credit facilities as amended;
-- the Company's ability to finance its operations and raise additional
capital on commercially reasonable terms or at all;
-- changes in demand for and pricing of the Company's services, both of
which are difficult to predict due to continuing economic uncertainty;
-- the effect of a decline in vessel valuations;
-- changes in rules and regulations applicable to the shipping industry,
including legislation adopted by international organizations such as
the International Maritime Organization and the European Union or by
individual countries;
-- actions taken by regulatory authorities;
-- changes in trading patterns, which may significantly affect overall
vessel tonnage requirements;
-- changes in the typical seasonal variations in charter rates;
-- volatility in costs, including changes in production of or demand for
oil and petroleum products, crew wages, insurance, provisions, repairs
and maintenance, generally or in particular regions;
-- additional material declines or continued weakness in shipping rates;
-- changes in general domestic and international political conditions;
-- changes in the condition of the Company's vessels or applicable
maintenance or regulatory standards which may affect, among other
things, the Company's anticipated drydocking or maintenance and repair
costs;
-- increases in the cost of the Company's drydocking program or delays in
its anticipated drydocking schedule;
-- China Communications Construction Company Ltd./Nantong Yahua
Shipbuilding Group Co., Ltd.'s ability to complete and deliver the
remaining multipurpose tweendeckers on the anticipated schedule and
the ability of the parties to satisfy the conditions in the
shipbuilding agreements;
-- the possible effects of pending and future legislation in the United
States that may limit or eliminate potential U.S. tax benefits
resulting from the Company's jurisdiction of incorporation;
-- Irish corporate governance and regulatory requirements which could
prove different or more challenging than currently expected; and
-- other factors that are described in the "Risk Factors" sections of the
Company's reports filed with the Securities and Exchange Commission.
</PRE>
<P>About TBS International plc: TBS provides worldwide shipping solutions
to a diverse client base of industrial shippers. Through the TBS Five Star
Service consisting of ocean transportation, operations, port services,
projects, and strategic planning, TBS delivers high-quality customer
service. The TBS shipping network operates liner, parcel and dry bulk
services, supported by a fleet of multipurpose tweendeckers and handysize/
handymax bulk carriers, including specialized heavy-lift vessels and
newbuild tonnage. 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 Middle East. Visit
our website at www.tbsship.com </P><PRE>For more information, please contact:
Company Contact:
Ferdinand V. Lepere
Senior Executive Vice President and Chief Financial Officer
TBS International plc
Tel. 1-914-961-1000
InvestorRequest@tbsship.com
Investor Relations / Media:
Nicolas Bornozis
Capital Link, Inc. New York
Tel. 1-212-661-7566
E-mail: tbs@capitallink.com
</PRE>
<P>SOURCE: TBS INTERNATIONAL PLC </P><PRE>mailto:InvestorRequest@tbsship.com
mailto:tbs@capitallink.com
</PRE></SPAN></TD></TR></TBODY></TABLE><SPAN class=ccbnTxt>
<P>DUBLIN, IRELAND, Jan 05, 2011 (MARKETWIRE via COMTEX) --
<P>TBS International plc (NASDAQ: TBSI) announced today that it has taken
delivery of the newly-constructed vessel M/V Omaha Belle from China
Communications Construction Company Ltd./ Nantong Yahua Shipbuilding Group Co.,
Ltd. </P>
<P></P>
<P>The M/V Omaha Belle is the fourth in a series of six "Roymar Class" 34,000
dwt multipurpose tweendecker vessels that the Company ordered at a purchase
price of $35.4 million per vessel. TBS expects to take delivery of the remaining
two vessels by the third quarter of 2011. The Company has in place the requisite
bank financing for these vessels. </P>
<P>With the delivery of the M/V Omaha Belle, TBS's current fleet expands to 50
vessels with an aggregate of 1.51 million dwt, consisting of 28 tweendeckers and
22 handymax/ handysize bulk carriers. </P>
<P>Joseph E. Royce, Chairman, Chief Executive Officer and President, commented:
"We are pleased to have taken delivery of our fourth newbuild Roymar Class
tweendecker, the M/V Omaha Belle, thereby expanding our operational fleet to 50
vessels. The addition of this vessel to our fleet further increases our
operational flexibility, enhances our cargo transportation abilities and
supports the requirements of our expanding customer base." </P>
<P>Forward-Looking Statements "Safe Harbor" Statement under the Private
Securities Litigation Reform Act of 1995 </P>
<P>This press release contains forward-looking statements made pursuant to the
safe harbor provisions of the Private Securities Litigation Reform Act of 1995.
These forward-looking statements are based on management's current expectations
and observations. </P>
<P>Included among the factors that, in the Company's view, could cause actual
results to differ materially from the forward looking statements contained in
this press release are the following: </P><PRE>-- the Company's ability to reach agreements with its lenders to amend
its credit facilities and its ability to obtain waivers of, or cure,
defaults under its credit facilities;
-- the Company's ability to maintain financial ratios and comply with the
financial covenants required by its credit facilities as amended;
-- the Company's ability to finance its operations and raise additional
capital on commercially reasonable terms or at all;
-- changes in demand for and pricing of the Company's services, both of
which are difficult to predict due to continuing economic uncertainty;
-- the effect of a decline in vessel valuations;
-- changes in rules and regulations applicable to the shipping industry,
including legislation adopted by international organizations such as
the International Maritime Organization and the European Union or by
individual countries;
-- actions taken by regulatory authorities;
-- changes in trading patterns, which may significantly affect overall
vessel tonnage requirements;
-- changes in the typical seasonal variations in charter rates;
-- volatility in costs, including changes in production of or demand for
oil and petroleum products, crew wages, insurance, provisions, repairs
and maintenance, generally or in particular regions;
-- additional material declines or continued weakness in shipping rates;
-- changes in general domestic and international political conditions;
-- changes in the condition of the Company's vessels or applicable
maintenance or regulatory standards which may affect, among other
things, the Company's anticipated drydocking or maintenance and repair
costs;
-- increases in the cost of the Company's drydocking program or delays in
its anticipated drydocking schedule;
-- China Communications Construction Company Ltd./Nantong Yahua
Shipbuilding Group Co., Ltd.'s ability to complete and deliver the
remaining multipurpose tweendeckers on the anticipated schedule and
the ability of the parties to satisfy the conditions in the
shipbuilding agreements;
-- the possible effects of pending and future legislation in the United
States that may limit or eliminate potential U.S. tax benefits
resulting from the Company's jurisdiction of incorporation;
-- Irish corporate governance and regulatory requirements which could
prove different or more challenging than currently expected; and
-- other factors that are described in the "Risk Factors" sections of the
Company's reports filed with the Securities and Exchange Commission.
</PRE>
<P>About TBS International plc: TBS provides worldwide shipping solutions to a
diverse client base of industrial shippers. Through the TBS Five Star Service
consisting of ocean transportation, operations, port services, projects, and
strategic planning, TBS delivers high-quality customer service. The TBS shipping
network operates liner, parcel and dry bulk services, supported by a fleet of
multipurpose tweendeckers and handysize/ handymax bulk carriers, including
specialized heavy-lift vessels and newbuild tonnage. 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 Middle East. Visit our website at www.tbsship.com </P></SPAN><BR
style="CLEAR: both">
<TABLE border=0 cellSpacing=1 cellPadding=3 width="100%">
<TBODY>
<TR class=ccbnBgTtl>
<TD vAlign=top><SPAN class=ccbnTtl>TBS International Takes Delivery of Its
Fourth Newbuild Roymar Class Multipurpose Tweendecker and Expands Fleet to
50 Vessels</SPAN></TD></TR>
<TR class=ccbnBgTxt>
<TD vAlign=top><SPAN class=ccbnTxt>
<P>DUBLIN, IRELAND, Jan 05, 2011 (MARKETWIRE via COMTEX) --
<P>TBS International plc (NASDAQ: TBSI) announced today that it has taken
delivery of the newly-constructed vessel M/V Omaha Belle from China
Communications Construction Company Ltd./ Nantong Yahua Shipbuilding Group
Co., Ltd. </P>
<P></P>
<P>The M/V Omaha Belle is the fourth in a series of six "Roymar Class"
34,000 dwt multipurpose tweendecker vessels that the Company ordered at a
purchase price of $35.4 million per vessel. TBS expects to take delivery
of the remaining two vessels by the third quarter of 2011. The Company has
in place the requisite bank financing for these vessels. </P>
<P>With the delivery of the M/V Omaha Belle, TBS's current fleet expands
to 50 vessels with an aggregate of 1.51 million dwt, consisting of 28
tweendeckers and 22 handymax/ handysize bulk carriers. </P>
<P>Joseph E. Royce, Chairman, Chief Executive Officer and President,
commented: "We are pleased to have taken delivery of our fourth newbuild
Roymar Class tweendecker, the M/V Omaha Belle, thereby expanding our
operational fleet to 50 vessels. The addition of this vessel to our fleet
further increases our operational flexibility, enhances our cargo
transportation abilities and supports the requirements of our expanding
customer base." </P>
<P>Forward-Looking Statements "Safe Harbor" Statement under the Private
Securities Litigation Reform Act of 1995 </P>
<P>This press release contains forward-looking statements made pursuant to
the safe harbor provisions of the Private Securities Litigation Reform Act
of 1995. These forward-looking statements are based on management's
current expectations and observations. </P>
<P>Included among the factors that, in the Company's view, could cause
actual results to differ materially from the forward looking statements
contained in this press release are the following: </P><PRE>-- the Company's ability to reach agreements with its lenders to amend
its credit facilities and its ability to obtain waivers of, or cure,
defaults under its credit facilities;
-- the Company's ability to maintain financial ratios and comply with the
financial covenants required by its credit facilities as amended;
-- the Company's ability to finance its operations and raise additional
capital on commercially reasonable terms or at all;
-- changes in demand for and pricing of the Company's services, both of
which are difficult to predict due to continuing economic uncertainty;
-- the effect of a decline in vessel valuations;
-- changes in rules and regulations applicable to the shipping industry,
including legislation adopted by international organizations such as
the International Maritime Organization and the European Union or by
individual countries;
-- actions taken by regulatory authorities;
-- changes in trading patterns, which may significantly affect overall
vessel tonnage requirements;
-- changes in the typical seasonal variations in charter rates;
-- volatility in costs, including changes in production of or demand for
oil and petroleum products, crew wages, insurance, provisions, repairs
and maintenance, generally or in particular regions;
-- additional material declines or continued weakness in shipping rates;
-- changes in general domestic and international political conditions;
-- changes in the condition of the Company's vessels or applicable
maintenance or regulatory standards which may affect, among other
things, the Company's anticipated drydocking or maintenance and repair
costs;
-- increases in the cost of the Company's drydocking program or delays in
its anticipated drydocking schedule;
-- China Communications Construction Company Ltd./Nantong Yahua
Shipbuilding Group Co., Ltd.'s ability to complete and deliver the
remaining multipurpose tweendeckers on the anticipated schedule and
the ability of the parties to satisfy the conditions in the
shipbuilding agreements;
-- the possible effects of pending and future legislation in the United
States that may limit or eliminate potential U.S. tax benefits
resulting from the Company's jurisdiction of incorporation;
-- Irish corporate governance and regulatory requirements which could
prove different or more challenging than currently expected; and
-- other factors that are described in the "Risk Factors" sections of the
Company's reports filed with the Securities and Exchange Commission.
</PRE>
<P>About TBS International plc: TBS provides worldwide shipping solutions
to a diverse client base of industrial shippers. Through the TBS Five Star
Service consisting of ocean transportation, operations, port services,
projects, and strategic planning, TBS delivers high-quality customer
service. The TBS shipping network operates liner, parcel and dry bulk
services, supported by a fleet of multipurpose tweendeckers and handysize/
handymax bulk carriers, including specialized heavy-lift vessels and
newbuild tonnage. 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 Middle East. Visit
our website at www.tbsship.com </P><PRE>For more information, please contact:
Company Contact:
Ferdinand V. Lepere
Senior Executive Vice President and Chief Financial Officer
TBS International plc
Tel. 1-914-961-1000
InvestorRequest@tbsship.com
Investor Relations / Media:
Nicolas Bornozis
Capital Link, Inc. New York
Tel. 1-212-661-7566
E-mail: tbs@capitallink.com
</PRE>
<P>SOURCE: TBS INTERNATIONAL PLC </P><PRE>mailto:InvestorRequest@tbsship.com
mailto:tbs@capitallink.com
</PRE></SPAN></TD></TR></TBODY></TABLE><BR style="CLEAR: both">
<TABLE border=0 cellSpacing=1 cellPadding=3 width="100%">
<TBODY>
<TR class=ccbnBgTtl>
<TD vAlign=top><SPAN class=ccbnTtl>TBS International Takes Delivery of Its
Fourth Newbuild Roymar Class Multipurpose Tweendecker and Expands Fleet to
50 Vessels</SPAN></TD></TR>
<TR class=ccbnBgTxt>
<TD vAlign=top><SPAN class=ccbnTxt>
<P>DUBLIN, IRELAND, Jan 05, 2011 (MARKETWIRE via COMTEX) --
<P>TBS International plc (NASDAQ: TBSI) announced today that it has taken
delivery of the newly-constructed vessel M/V Omaha Belle from China
Communications Construction Company Ltd./ Nantong Yahua Shipbuilding Group
Co., Ltd. </P>
<P></P>
<P>The M/V Omaha Belle is the fourth in a series of six "Roymar Class"
34,000 dwt multipurpose tweendecker vessels that the Company ordered at a
purchase price of $35.4 million per vessel. TBS expects to take delivery
of the remaining two vessels by the third quarter of 2011. The Company has
in place the requisite bank financing for these vessels. </P>
<P>With the delivery of the M/V Omaha Belle, TBS's current fleet expands
to 50 vessels with an aggregate of 1.51 million dwt, consisting of 28
tweendeckers and 22 handymax/ handysize bulk carriers. </P>
<P>Joseph E. Royce, Chairman, Chief Executive Officer and President,
commented: "We are pleased to have taken delivery of our fourth newbuild
Roymar Class tweendecker, the M/V Omaha Belle, thereby expanding our
operational fleet to 50 vessels. The addition of this vessel to our fleet
further increases our operational flexibility, enhances our cargo
transportation abilities and supports the requirements of our expanding
customer base." </P>
<P>Forward-Looking Statements "Safe Harbor" Statement under the Private
Securities Litigation Reform Act of 1995 </P>
<P>This press release contains forward-looking statements made pursuant to
the safe harbor provisions of the Private Securities Litigation Reform Act
of 1995. These forward-looking statements are based on management's
current expectations and observations. </P>
<P>Included among the factors that, in the Company's view, could cause
actual results to differ materially from the forward looking statements
contained in this press release are the following: </P><PRE>-- the Company's ability to reach agreements with its lenders to amend
its credit facilities and its ability to obtain waivers of, or cure,
defaults under its credit facilities;
-- the Company's ability to maintain financial ratios and comply with the
financial covenants required by its credit facilities as amended;
-- the Company's ability to finance its operations and raise additional
capital on commercially reasonable terms or at all;
-- changes in demand for and pricing of the Company's services, both of
which are difficult to predict due to continuing economic uncertainty;
-- the effect of a decline in vessel valuations;
-- changes in rules and regulations applicable to the shipping industry,
including legislation adopted by international organizations such as
the International Maritime Organization and the European Union or by
individual countries;
-- actions taken by regulatory authorities;
-- changes in trading patterns, which may significantly affect overall
vessel tonnage requirements;
-- changes in the typical seasonal variations in charter rates;
-- volatility in costs, including changes in production of or demand for
oil and petroleum products, crew wages, insurance, provisions, repairs
and maintenance, generally or in particular regions;
-- additional material declines or continued weakness in shipping rates;
-- changes in general domestic and international political conditions;
-- changes in the condition of the Company's vessels or applicable
maintenance or regulatory standards which may affect, among other
things, the Company's anticipated drydocking or maintenance and repair
costs;
-- increases in the cost of the Company's drydocking program or delays in
its anticipated drydocking schedule;
-- China Communications Construction Company Ltd./Nantong Yahua
Shipbuilding Group Co., Ltd.'s ability to complete and deliver the
remaining multipurpose tweendeckers on the anticipated schedule and
the ability of the parties to satisfy the conditions in the
shipbuilding agreements;
-- the possible effects of pending and future legislation in the United
States that may limit or eliminate potential U.S. tax benefits
resulting from the Company's jurisdiction of incorporation;
-- Irish corporate governance and regulatory requirements which could
prove different or more challenging than currently expected; and
-- other factors that are described in the "Risk Factors" sections of the
Company's reports filed with the Securities and Exchange Commission.
</PRE>
<P>About TBS International plc: TBS provides worldwide shipping solutions
to a diverse client base of industrial shippers. Through the TBS Five Star
Service consisting of ocean transportation, operations, port services,
projects, and strategic planning, TBS delivers high-quality customer
service. The TBS shipping network operates liner, parcel and dry bulk
services, supported by a fleet of multipurpose tweendeckers and handysize/
handymax bulk carriers, including specialized heavy-lift vessels and
newbuild tonnage. 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 Middle East. Visit
our website at www.tbsship.com </P><PRE>For more information, please contact:
Company Contact:
Ferdinand V. Lepere
Senior Executive Vice President and Chief Financial Officer
TBS International plc
Tel. 1-914-961-1000
InvestorRequest@tbsship.com
Investor Relations / Media:
Nicolas Bornozis
Capital Link, Inc. New York
Tel. 1-212-661-7566
E-mail: tbs@capitallink.com
</PRE>
<P>SOURCE: TBS INTERNATIONAL PLC </P><PRE>mailto:InvestorRequest@tbsship.com
mailto:tbs@capitallink.com
</PRE></SPAN></TD></TR></TBODY></TABLE><BR style="CLEAR: both"><BR
style="CLEAR: both"></DIV></BODY></HTML>