TBS group co-founder McNelis quits

Longtime executive and company co-founder Gregg McNelis has parted ways with the TBS shipping group, sources tell TradeWinds.

McNelis has overseen the revamped company as president and chief executive of TBS Ocean Logistics after the most recent emergence of its predecessor company from bankruptcy in 2012.

While TBS, which is based in Scarsdale, New York, is exposed to the ravaged dry bulk market, McNelis had spoken optimistically in recent interviews with TradeWinds about the owner’s purported outperformance in hire rates and its progress in building up pools in the supramax and handysize sectors.

McNelis’s