CEO Gregg McNelis departed from TBS Shipping USA

New York base TBS Shipping USA has confirmed the departure of company CEO and co-founder Gregg McNelis after 24 years. Gregg McNelis led the TBS Shipping through historic lows in the dry bulk market and will be replaced as CEO immediately by Aadel Shaaban from Candlewood Investment Group. Candlewood Investment Group, one of the hedge funds that now owns TBS Shipping USA.