TBS buys bulk carrier
TBS International Ltd. said it has agreed to acquire a handysize bulk carrier, the Elsa Oldendorff, for $29 million.
The Yonkers, N.Y.-based company is acquiring the vessel charter free and expects delivery between Nov. 1 and Dec. 30. The 24,021-deadweight-ton vessel, which will be renamed the Arapaho Belle, was built in 1998.
TBS also recently announced acquisition of the 1990-built 42,475-dwt Yakima Princess, which is expected to be delivered to TBS by October.
When those two deals are complete, TBS fleet will have 35 vessels with aggregate capacity of 1.06 million dwt.
Joseph E. Royce, chief executive officer, said the purchase 'is in line with our strategy of growing our fleet in response to the growth of our business.
“We are looking for additional fleet expansion opportunities in the secondhand market while we are waiting for the delivery in 2009 and 2010 of the six multipurpose newbuildings, which we have on order with China Communications Construction Co. Ltd. and Nantong Yahua Shipbuilding Co. Ltd.,” he said
TBS buys bulk carrier
