TBS International PLC (TBSIQ) responded to shareholder objections of its Chapter 11 plan Monday, saying this restructuring is its only option to avoid liquidating the 41-vessel fleet operation. "Absent receiving the benefits that the restructuring promises, the debtors have no viable strategy to exit from Chapter 11 or to escape liquidation," TBS International said in … [Read more...]
TBS International takes delivery of fifth ‘Roymar Class’ tweendeckers
TBS International announced today that it has taken delivery of the newly-constructed vessel M/V Comanche Maiden from China Communications Construction Company/Nantong Yahua Shipbuilding Group. The M/V Comanche Maiden is the fifth 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 … [Read more...]
TBS International Takes Delivery of Its Fourth Newbuild Roymar Class Multipurpose Tweendecker, Expands Fleet to 50 Vessels
DUBLIN, IRELAND, Jan 05, 2011 (MARKETWIRE via COMTEX) -- 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. The M/V Omaha Belle is the fourth in a series of six "Roymar Class" 34,000 dwt multipurpose … [Read more...]