TBS International Plc Watch

from 8-K 1 page Dear Sirs, Loan Agreement Dd. June 19, 2008, as Amended and/or Supplemented From Time to Time for the Part—refinancing of the M/V “Ottawa Princess” (The “Loan Agreement”) Your Waiver Request Letter Dd. August 17, 2011 (The “Waiver Request”) With Reference to the Waiver Request Addressed to All Lenders of Tbs, We Are Pleased to Inform You That Subject to the Acceptance of the Waiver Request by All Other Lenders Affected by the Waiver Request We Agree To

from 10-Q 2 pages Supplemental Letter to the Loan Agreement

from 10-Q 5 pages Sixth Amendment to Loan Agreement by and Among Amoros Maritime Corp., Lancaster Maritime Corp. and Chatham Maritime Corp., as Borrowers, Sherwood Shipping Corp. TBS International Limited and Tbs Holdings Limited as Guarantors, TBS International Public Limited Company as Parent Guarantor and Aig Commercial Equipment Finance, Inc., as Lender April 15, 2011 Sixth Amendment to Loan Agreement

from 10-Q 3 pages Loan Agreement Dated 29 March 2007 as Amended and Supplemented From Time to Time and as Last Amended and Restated by an Amending and Restating Agreement Dated as of 27 January 2011 (The “Amending and Restating Agreement”) Each Made Between (I) Argyle Maritime Corp, Caton Marime Corp, Dorchester Maritime Corp, Longwoods Maritime Corp, McHenry Maritime Corp and Sunswyck Maritime Corp as Joint and Several Borrowers (II) the Banks and Financial Institutions Listed Therein as Lenders, the Royal Bank of Scotland PLC as Mandated Lead Arranger (IV) the Royal Bank of Scotland PLC as Bookrunner, Agent, Security Trustee and Swap Bank Relating to a Term Loan Facility of US$150,000,000 (Together the “Loan Agreement”) 1 the Maximum Consolidated Leverage Ratio Set Out in Paragraph (B) of Schedule 8 to the Loan Agreement Shall Be Reset for the Fiscal Quarters Ending 30 June 2011, 30 September 2011 and 31 December 2011 as Follows:- 2 the Minimum Consolidated Interest Charges Coverage Ratio Set Out in Paragraph (C) of Schedule 8 of the Loan Agreement Shall Be Reset for the Fiscal Quarters Ending 30 June, 30 September 2011 and 31 December 2011 as Follows

from 10-Q 17 pages Amendment No. 2 to Credit Agreement

from 8-K/A 199 pages Second Amended and Restated Credit Agreement Dated as of January 27, 2011 Among

from 8-K/A 197 pages Second Amended and Restated Credit Agreement Dated as of January 27, 2011 Among

from 8-K 121 pages Date 27 January 2011 Claremont Shipping Corp. and Yorkshire Shipping Corp. as Joint and Several Borrowers - And - TBS International Limited as Guarantor - And - TBS International Public Limited Company as New Guarantor - And - Credit Suisse AG as Lender Supplemental Agreement Relating to a Facility of US$40,000,000 for M.V. “Arapaho Belle” and M.V. “Oneida Princess” Watson, Farley & Williams London Index

from 8-K 17 pages Fourth Amendment to Loan Agreement by and Among Amoros Maritime Corp., Lancaster Maritime Corp. and Chatham Maritime Corp., as Borrowers, Sherwood Shipping Corp. TBS International Limited and Tbs Holdings Limited as Guarantors, TBS International Public Limited Company as Parent Guarantor and Aig Commercial Equipment Finance, Inc., as Lender January 27, 2011 Fourth Amendment to Loan Agreement

from 8-K 157 pages Date 27 January 2011 Argyle Maritime Corp. Caton Maritime Corp. Dorchester Maritime Corp. Longwoods Maritime Corp. McHenry Maritime Corp. Sunswyck Maritime Corp. as Joint and Several Borrowers — And — The Banks and Financial Institutions Listed in Schedule 1 as Lenders — And — The Royal Bank of Scotland PLC as Mandated Lead Arranger — And — The Royal Bank of Scotland PLC as Bookrunner, Agent, Security Trustee and Swap Bank Amending and Restating Agreement Relating to a Term Loan Facility of US$150,000,000 Watson, Farley & Williams London Index

from 8-K 197 pages Second Amended and Restated Credit Agreement Dated as of January 28, 2011 Among

from 8-K 4 pages Re: Extension of Forbearance Period in Connection With Specified Events of Default Under That Certain Loan Agreement Dated February 29, 2008 by and Among Aig Commercial Equipment Finance, Inc., Amoros Maritime Corp., Lancaster Maritime Corp., Chatham Maritime Corp. and the Guarantors Party Thereto (As Amended, the “Loan Agreement”)

from 8-K 11 pages Loan Agreement Dated 29 March 2007 as Amended by a Side Letter Dated 24 July 2007, a Supplemental Letter Agreement Dated 26 March 2008, a Supplemental Agreement Dated 27 March 2009, a Side Letter Dated 27 May 2009, a Side Letter Dated 3 September 2009, a Side Letter Dated 31 December 2009, a Supplemental Agreement Dated 7 January 2010, a Side Letter Dated 28 February 2010, a Side Letter Dated 31 March 2010, an Amending and Restating Agreement Dated 6 May 2010 and a Supplemental Letter Agreement Dated 16 August 2010 Each Made Between (I) Argyle Maritime Corp., Caton Maritime Corp., Dorchester Maritime Corp., Longwoods Maritime Corp., McHenry Maritime Corp. and Sunswyck Maritime Corp. as Joint and Several Borrowers, (II) the Banks and Financial Institutions Listed Therein as Lenders, (III) the Royal Bank of Scotland PLC as Mandated Lead Arranger and (IV) the Royal Bank of Scotland PLC as Bookrunner, Agent, Security Trustee and Swap Bank Relating to a Term Loan Facility of US$150,000,000

from 8-K 5 pages Loan Agreement Dated 29 March 2007 as Amended by a Side Letter Dated 24 July 2007, a Supplemental Letter Agreement Dated 26 March 2008, a Supplemental Agreement Dated 27 March 2009, a Side Letter Dated 27 May 2009, a Side Letter Dated 3 September 2009, a Side Letter Dated 31 December 2009, a Supplemental Agreement Dated 7 January 2010, a Side Letter Dated 28 February 2010, a Side Letter Dated 31 March 2010, an Amending and Restating Agreement Dated 6 May 2010 and a Supplemental Letter Agreement Dated 16 August 2010 Each Made Between (I) Argyle Maritime Corp., Caton Maritime Corp., Dorchester Maritime Corp., Longwoods Maritime Corp., McHenry Maritime Corp. and Sunswyck Maritime Corp. as Joint and Several Borrowers, (II) the Banks and Financial Institutions Listed Therein as Lenders, (III) the Royal Bank of Scotland PLC as Mandated Lead Arranger and (IV) the Royal Bank of Scotland PLC as Bookrunner, Agent, Security Trustee and Swap Bank Relating to a Term Loan Facility of US$150,000,000

from 8-K 8 pages Loan Agreement Dated 29 March 2007 as Amended by a Side Letter Dated 24 July 2007, a Supplemental Letter Agreement Dated 26 March 2008, a Supplemental Agreement Dated 27 March 2009, a Side Letter Dated 27 May 2009, a Side Letter Dated 3 September 2009, a Side Letter Dated 31 December 2009, a Supplemental Agreement Dated 7 January 2010, a Side Letter Dated 28 February 2010, a Side Letter Dated 31 March 2010, an Amending and Restating Agreement Dated 6 May 2010 and a Supplemental Letter Agreement Dated 16 August 2010 Each Made Between (I) Argyle Maritime Corp., Caton Maritime Corp., Dorchester Maritime Corp., Longwoods Maritime Corp., McHenry Maritime Corp. and Sunswyck Maritime Corp. as Joint and Several Borrowers, (II) the Banks and Financial Institutions Listed Therein as Lenders, (III) the Royal Bank of Scotland PLC as Mandated Lead Arranger and (IV) the Royal Bank of Scotland PLC as Bookrunner, Agent, Security Trustee and Swap Bank Relating to a Term Loan Facility of US$150,000,000

from 8-K 18 pages As Amended Date 7 May 2010 Argyle Maritime Corp. Caton Maritime Corp. Dorchester Maritime Corp. Longwoods Maritime Corp. McHenry Maritime Corp. Sunswyck Maritime Corp. as Joint and Several Obligors – And – The Royal Bank of Scotland PLC as Issuer Amending and Restating Agreement Relating to a Guarantee Facility of Up to US$84,000,000 Index

from 8-K 27 pages As Amended Date 6 May 2010 Argyle Maritime Corp. Caton Maritime Corp. Dorchester Maritime Corp. Longwoods Maritime Corp. McHenry Maritime Corp. Sunswyck Maritime Corp. as Joint and Several Borrowers – And – The Banks and Financial Institutions Listed in Schedule 1 as Lenders – And – The Royal Bank of Scotland PLC as Mandated Lead Arranger – And – The Royal Bank of Scotland PLC as Bookrunner, Agent, Security Trustee and Swap Bank Amending and Restating Agreement Relating to a Term Loan Facility of US$150,000,000 Index

from 10-Q 3 pages Date: As of April 30, 2010 Rushmore Shipping LLC as Owner Beekman Shipping Corp. as Charterer TBS International Limited Tbs Holdings Limited and Tbs Interantional Public Limited Company as Guarantors Fifth Amendatory Agreement

from 10-Q 3 pages Date: As of April 30, 2010 Adirondack Shipping LLC as Owner Fairfax Shipping Corp. as Charterer TBS International Limited Tbs Holdings Limited and Tbs Interantional Public Limited Company as Guarantors Fifth Amendatory Agreement

from 10-Q ~5 pages Commerzbank