International Shipholding Corporation Takes Delivery of Two Handysize Bulk Carriers

MOBILE, Ala.--(BUSINESS WIRE)--International Shipholding Corporation (NYSE: ISH) today announced that its wholly owned subsidiary, East Gulf Shipholding, took delivery of the first two of three newbuilding 36,000dwt, Double Hull, Handysize Bulk Carriers it contracted to build at Hyundai Mipo Dockyard Co., Ltd. in Ulsan, Korea. The third vessel is scheduled for delivery by the end of January.

“The specifications for these vessels were formulated to enable the vessels to service diversified specialized world niche markets. The flexibility and diverse cargo handling capabilities of these vessels were the drivers that moved us forward with the decision to have the vessels constructed.”

Mr. Niels M. Johnsen, chairman and chief executive officer, commented, "The specifications for these vessels were formulated to enable the vessels to service diversified specialized world niche markets. The flexibility and diverse cargo handling capabilities of these vessels were the drivers that moved us forward with the decision to have the vessels constructed."

About International Shipholding Corporation

International Shipholding Corporation, through its subsidiaries, operates a diversified fleet of United States and International Flag Vessels that provide international and domestic maritime transportation services to commercial and governmental customers primarily under medium to long-term charters and contracts.

For more information about the company, please visit www.intship.com.