Liberty Shipping ups stake in International Shipholding to 8.3%

By Jennifer Chiou

New York, Oct. 10 - Liberty Shipping Group LLC and its subsidiary Projection LLC reported beneficial ownership of 597,600 shares of International Shipholding Corp.

The investors now hold an 8.3% stake in International Shipholding, according to a schedule 13D/A filed with the Securities and Exchange Commission.

The figures compare with numbers from Oct. 1 of 503,000 shares, or 7%, of the company.

On Sept. 15, Liberty said it was prepared to consider additional nonpublic information in support of a bid higher than its $25.75-per-share offer for International Shipholding.

Liberty also previously said it would consider taking its offer directly to the company's shareholders or seeking representation on International Shipholding's board of directors.

Based in Mobile, Ala., International Shipholding is a provider of international and domestic maritime transportation services.

Liberty is a Lake Success, N.Y.-based owner and operator of dry bulk vessels.

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