Exhibit 8.1

List of Subsidiaries as at December 31, 2017

Name of Subsidiary	Place of Incorporation
Likiep Shipping Company Inc.	Marshall Islands
Orangina Inc.	Marshall Islands
Rongerik Shipping Company Inc.	Marshall Islands
Utirik Shipping Company Inc.	Marshall Islands
Eluk Shipping Company Inc.	Marshall Islands
Oruk Shipping Company Inc.	Marshall Islands
Jabor Shipping Company Inc.	Marshall Islands
Delap Shipping Company Inc.	Marshall Islands
Dud Shipping Company Inc.	Marshall Islands
Unitized Ocean Transport Limited	Marshall Islands
Mago Shipping Company Inc.	Marshall Islands
Kapa Shipping Company Inc.	Marshall Islands
Meck Shipping Company Inc.	Marshall Islands
Langor Shipping Company Inc.	Marshall Islands