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Joseph E. Royce
President, Chief Executive Officer, Chairman and Director
TBS International Limited

Mr. Royce has been President, Chairman and a director since our inception, and Chief Executive Officer since March 2005. Since 1993, Mr. Royce has served as President of TBS Shipping Services and is responsible for supervising the vessels in our breakbulk, bulk and liner operations. In 2007, Mr. Royce became a director of Covenant House New York, the not-for-profit adolescent care agency.

TBS is an ocean transportation services company that offers worldwide shipping solutions through liner, parcel, bulk and vessel chartering services. TBS has developed franchises around key trade routes between Latin America and China, Japan and South Korea, as well as select ports in North America, Africa and the Caribbean. The model captured the attention and support of the investment community and TBS International concluded its initial public offering in June 2005. Since 1978, Mr. Royce has organized and managed ventures engaged in ownership and operation of vessels. Between 1984 and early 1993, Mr. Royce was president of COTCO, a dry cargo pool of over 45 vessels. From 1973 to 1983, he was active as a shipbroker and independent ship operations manager involved in the shipment of various products worldwide. Mr. Royce earned a bachelor's degree in Economics from Iona College in Westchester, New York. He and his wife, Elaine, have two children: Jeanine, a college student at Iona College in Westchester, New York and Laura, a college student at Boston University in Massachusetts. They both enjoy keeping fit, snow skiing, the theater and movies.

TBS International Limited
c/o TBS Shipping Services Inc.
612 East Grassy Sprain Road
Yonkers, New York 10710 o USA
Phone: +1-914-961-1000 o Fax: +1-914-961-0567