March 11 - TBS International Ltd has decided to delay its earnings release and conference call for the fourth quarter and year-end 2008.

It said the delay would allow it adequate time to complete the negotiation of waivers of certain financial covenants with respect to its credit facilities before disclosing its financial results.

The shipping company said the waivers have become necessary due to the dramatic decline in the global economy and its impact on the dry cargo shipping industry.

TBS is a fully-integrated transportation service company providing ocean transportation, operations, logistics, port services, and strategic planning liner, parcel, bulk, and chartering trades, supported by a fleet of multipurpose tweendeckers; handysize and handymax bulk carriers, including specialist heavy lift vessels.