March 30 - TBS International plc has taken delivery of the newbuild vessel Dakota Princess from China Communications Construction Company Ltd / Nantong Yahua Shipbuilding Group Co.
Dakota Princess is the second of a series of six TBS-designed "Roymar Class" 34,000 dwt multipurpose tweendecker vessels that the company had ordered for a purchase price of USD35.4 million per vessel. Of the remaining four vessels, TBS expects to take delivery of two vessels in 2010 and two in 2011.
With this delivery, TBS' current fleet consists of 49 vessels with an aggregate of 1.47 million dwt, consisting of 26 tweendeckers and 23 handymax/ handysize bulk carriers.
Joseph E. Royce, chairman and chief executive officer and president stated, "This delivery is in line with our long term fleet modernisation programme and our commitment to provide additional services to our clients. We remain committed to deliver shareholder value."