January 8 - TBS International has completed the change in its place of incorporation to Ireland from Bermuda, following receipt of the required approval from the Supreme Court of Bermuda.
The transaction was previously approved by TBS' shareholders and announced on December 4, 2009. TBS International plc, the Irish incorporated company, will be registered with the U.S. Securities and Exchange Commission ("SEC") and be subject to the same SEC reporting requirements as before the transaction.
The company's shares will continue to trade on the Nasdaq Global Select Market under the ticker symbol "TBSI."
TBS is a fully-integrated transportation service company that offers customers ocean transportation, operations, logistics, port services, and strategic planning. It offers liner, parcel and bulk services, supported by a fleet of multipurpose tweendeckers and handysize and handymax bulk carriers, including specialised heavy-lift vessels.
TBS has developed its business around key trade routes between Latin America and China, Japan and South Korea, as well as ports in North America, Africa, the Caribbean and the Middle East.