Niche shipowner TBS International says it is business as usual and it is continuing to meet all obligations despite being under cash flow pressure.

The Nasdaq listed company appears to have been stung into issuing some market reassurance by troubles elsewhere in the shipping industry, notably General Maritime’s Chapter 11 filing.

TBS said that while discussions with its bankers about outstanding debt had not reached a point where there was agreement on a restructuring negotiations were continuing.

“Although