TBS International Limited Takes Delivery of Handysize Bulk Carrier, M.V. Arapaho Belle

News was prepared under the information support of Online Daily Newspaper on Hellenic and international Shipping "Hellenic Shipping News".

29 Nov 2007

TBS International Limited announced today that it has taken delivery of its the M.V. Arapaho Belle, formerly the M.V. Elsa Oldendorff, an acquisition that it had announced in July 2007.The M.V. Arapaho Belle is a 1998 built, 24,021 dwt handysize bulk carrier the Company agreed to acquire charter free for $29.0 million. With the delivery of the M.V. Arapaho Belle, TBS' current fleet consists of 36 multipurpose, handymax and handysize vessels. TBS expects to take delivery of three additional handysize bulk carriers (the MVs Oneida Princess, Mohave Maiden, and Zuni Princess) and one multipurpose tweendecker (the M.V. Hopi Princess) by the end of first quarter 2008.Joseph E. Royce, Chairman, Chief Executive Officer and President, stated: "In line with our strategy, the delivery of the M.V. Arapaho Belle continues to emphasize our continued commitment to increase our participation in this strong shipping market thereby better serving our customer base."