TBS International Escapes Liquidation, Shareholders Are Left Holding the Bag

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...]