QuickLinks -- Click here to rapidly navigate through this document

Exhibit 21

Subsidiaries of the Company

        The following is a list of the Company's subsidiaries as of June 29, 2005

Name of Significant Subsidiary	Jurisdiction of Incorporation	Portion of Ownership Interests
Petronaft S.A.	Marshall Islands	100	%
Emaroil Co.	Marshall Islands	100	%
Sodinave Ltd.	Marshall Islands	100	%
Golden Energy Management S.A	Marshall Islands	100	%
Golden Energy Management S.A	Liberia	100	%
Grand Prix Corp.	Marshall Islands	100	%
Dahran Energy Shipping Limited	British Virgin Islands	100	%
East Moon S.A.	Cayman Islands	100	%
West Moon S.A.	Cayman Islands	100	%
Georgia Marine Corp.	Cayman Islands	100	%
Montana Marine Corp.	Cayman Islands	100	%
Nevada Marine Corp.	Cayman Islands	100	%
Flamenco Navigation Corp.	Cayman Islands	100	%
Unique Navigation Corp.	Cayman Islands	100	%
Wellington Shipping Company S.A.	Cayman Islands	100	%
Lexington Shipping Company S.A.	Cayman Islands	100	%
Mansey Financial S.A.	British Virgin Islands	100	%
Ceco Financial Inc.	British Virgin Islands	100	%

QuickLinks

Exhibit 21

Subsidiaries of the Company