2.4.0.8100100 - Disclosure - Basis of Presentation and General Informationtruefalsefalse1false falsefalseQ2_2013_Durhttp://www.sec.gov/CIK0001401112duration2013-01-01T00:00:002013-06-30T00:00:001true 1us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsAbstractus-gaap_truenadurationfalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00falsefalsefalsexbrli:stringItemTypestringfalse0Basis of Presentation and General Information [Abstract]2false 2us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsDisclosureTextBlockus-gaap_truenadurationfalsefalsefalsefalsefalsefalsefalsefalseterseLabel1falsefalsefalse00<div><p style="margin-left:0pt;margin-right:0pt;margin-top:0pt;margin-bottom:.0001pt;font-size:10.0pt;font-family:&quot;Times New Roman&quot;;"><b>1.&#160;Basis of Presentation and General Information<!--Exclude empty div--></b><!--Exclude empty p--></p><p style="margin-left:0pt;margin-right:0pt;margin-top:0pt;margin-bottom:.0001pt;font-size:10.0pt;font-family:&quot;Times New Roman&quot;;">&#160;<!--Exclude empty p--></p><p style="margin-left:0pt;margin-right:0pt;margin-top:0pt;margin-bottom:.0001pt;font-size:10.0pt;font-family:&quot;Times New Roman&quot;;text-align:justify;text-justify:inter-ideograph;"><b><i>Basis of Presentation:&#160;<!--Exclude empty div--></i></b>Paragon Shipping Inc. (&#8220;Paragon&#8221;) is a public company incorporated in the Republic of the Marshall Islands on April&#160;26, 2006 and is engaged in the ocean transportation of drybulk cargoes worldwide through the ownership and operation of drybulk carriers<!--Exclude empty div--><font color="#000000">.<!--Exclude empty div--></font>&#160;In December&#160;2006, Paragon established a branch in Greece under the provision of Law 89 of 1967, as amended.<!--Exclude empty div--><!--Exclude empty div--><!--Exclude empty p--></p><p style="margin-left:0pt;margin-right:0pt;margin-top:0pt;margin-bottom:.0001pt;font-size:10.0pt;font-family:&quot;Times New Roman&quot;;text-align:justify;text-justify:inter-ideograph;"><!--Exclude empty div-->&#160;<!--Exclude empty p--></p><p style="margin-left:0pt;margin-right:0pt;margin-top:0pt;margin-bottom:.0001pt;font-size:10.0pt;font-family:&quot;Times New Roman&quot;;text-align:justify;text-justify:inter-ideograph;">The accompanying unaudited interim condensed consolidated financial statements include the accounts of Paragon Shipping Inc. and its wholly-owned subsidiaries (collectively the &#8220;Company&#8221;) as discussed below as of December 31, 2012 and June 30, 2013 and for the six months ended June 30, 2012 and 2013.<!--Exclude empty div--><!--Exclude empty div--><!--Exclude empty p--></p><p style="margin-left:0pt;margin-right:0pt;margin-top:0pt;margin-bottom:.0001pt;font-size:10.0pt;font-family:&quot;Times New Roman&quot;;text-align:justify;text-justify:inter-ideograph;"><!--Exclude empty div-->&#160;<!--Exclude empty p--></p><p style="margin-left:0pt;margin-right:0pt;margin-top:0pt;margin-bottom:.0001pt;font-size:10.0pt;font-family:&quot;Times New Roman&quot;;text-align:justify;text-justify:inter-ideograph;"><i><font color="#000000">Drybulk Vessel Owning Subsidiaries<!--Exclude empty div--></font></i><font color="#000000">:<!--Exclude empty div--></font><!--Exclude empty div--><!--Exclude empty p--></p><p style="margin-left:0pt;margin-right:0pt;margin-top:0pt;margin-bottom:.0001pt;font-size:10.0pt;font-family:&quot;Times New Roman&quot;;text-align:justify;text-justify:inter-ideograph;"><!--Exclude empty div--><!--Exclude empty p--></p><div align="center"><table cellspacing="0" style="vertical-align:top;font-family:Georgia;;width:500.05pt;border-collapse:collapse;margin-left:60.05pt;"><tr style=";height:0;"><td style="vertical-align:top;font-family:Georgia;;width:95.55pt;vertical-align:middle;border-top:solid windowtext 0.5pt;border-right:solid windowtext 0.5pt;border-bottom:solid windowtext 0.5pt;border-left:solid windowtext 0.5pt;border-top:solid windowtext 0.5pt;border-right:solid windowtext 0.5pt;border-bottom:solid windowtext 0.5pt;border-left:solid windowtext 0.5pt;padding:0pt 5.4pt 0pt 5.4pt;"><p style="margin-left:0pt;margin-right:0pt;margin-top:0pt;margin-bottom:.0001pt;font-size:10.0pt;font-family:&quot;Times New Roman&quot;;text-align:center;"><b>Vessel Owning Company<!--Exclude empty div--></b><!--Exclude empty div--><!--Exclude empty p--></p></td><td style="vertical-align:top;font-family:Georgia;;width:96.1pt;vertical-align:middle;border-top:solid windowtext 0.5pt;border-right:solid windowtext 0.5pt;border-bottom:solid windowtext 0.5pt;border-left:solid windowtext 0.5pt;border-top:solid windowtext 0.5pt;border-right:solid windowtext 0.5pt;border-bottom:solid windowtext 0.5pt;border-left:solid windowtext 0.5pt;padding:0pt 5.4pt 0pt 5.4pt;"><p style="margin-left:0pt;margin-right:0pt;margin-top:0pt;margin-bottom:.0001pt;font-size:10.0pt;font-family:&quot;Times New Roman&quot;;text-align:center;"><b>Date of<!--Exclude empty div--></b><!--Exclude empty div--><!--Exclude empty p--></p><p style="margin-left:0pt;margin-right:0pt;margin-top:0pt;margin-bottom:.0001pt;font-size:10.0pt;font-family:&quot;Times New Roman&quot;;text-align:center;"><b>Incorporation<!--Exclude empty div--></b><!--Exclude empty div--><!--Exclude empty p--></p></td><td style="vertical-align:top;font-family:Georgia;;width:75.7pt;vertical-align:middle;border-top:solid windowtext 0.5pt;border-right:solid windowtext 0.5pt;border-bottom:solid windowtext 0.5pt;border-left:solid windowtext 0.5pt;border-top:solid windowtext 0.5pt;border-right:solid windowtext 0.5pt;border-bottom:solid windowtext 0.5pt;border-left:solid windowtext 0.5pt;padding:0pt 5.4pt 0pt 5.4pt;"><p style="margin-left:0pt;margin-right:0pt;margin-top:0pt;margin-bottom:.0001pt;font-size:10.0pt;font-family:&quot;Times New Roman&quot;;text-align:center;"><b>Country of<!--Exclude empty div--></b><!--Exclude empty div--><!--Exclude empty p--></p><p style="margin-left:0pt;margin-right:0pt;margin-top:0pt;margin-bottom:.0001pt;font-size:10.0pt;font-family:&quot;Times New Roman&quot;;text-align:center;"><b>Incorporation<!--Exclude empty div--></b><!--Exclude empty div--><!--Exclude empty p--></p></td><td style="vertical-align:top;font-family:Georgia;;width:70.85pt;vertical-align:middle;border-top:solid windowtext 0.5pt;border-right:solid windowtext 0.5pt;border-bottom:solid windowtext 0.5pt;border-left:solid windowtext 0.5pt;border-top:solid windowtext 0.5pt;border-right:solid windowtext 0.5pt;border-bottom:solid windowtext 0.5pt;border-left:solid windowtext 0.5pt;padding:0pt 5.4pt 0pt 5.4pt;"><p style="margin-left:0pt;margin-right:0pt;margin-top:0pt;margin-bottom:.0001pt;font-size:10.0pt;font-family:&quot;Times New Roman&quot;;text-align:center;"><b>Vessel&#8217;s Name<!--Exclude empty div--></b><!--Exclude empty div--><!--Exclude empty p--></p></td><td style="vertical-align:top;font-family:Georgia;;width:70.9pt;vertical-align:middle;border-top:solid windowtext 0.5pt;border-right:solid windowtext 0.5pt;border-bottom:solid windowtext 0.5pt;border-left:solid windowtext 0.5pt;border-top:solid windowtext 0.5pt;border-right:solid windowtext 0.5pt;border-bottom:solid windowtext 0.5pt;border-left:solid windowtext 0.5pt;padding:0pt 5.4pt 0pt 5.4pt;"><p style="margin-left:0pt;margin-right:0pt;margin-top:0pt;margin-bottom:.0001pt;font-size:10.0pt;font-family:&quot;Times New Roman&quot;;text-align:center;"><b>Delivery Date<!--Exclude empty div--></b><!--Exclude empty div--><!--Exclude empty p--></p></td><td style="vertical-align:top;font-family:Georgia;;width:45.45pt;vertical-align:middle;border-top:solid windowtext 0.5pt;border-right:solid windowtext 0.5pt;border-bottom:solid windowtext 0.5pt;border-left:solid windowtext 0.5pt;border-top:solid windowtext 0.5pt;border-right:solid windowtext 0.5pt;border-bottom:solid windowtext 0.5pt;border-left:solid windowtext 0.5pt;padding:0pt 5.4pt 0pt 5.4pt;"><p style="margin-left:0pt;margin-right:0pt;margin-top:0pt;margin-bottom:.0001pt;font-size:10.0pt;font-family:&quot;Times New Roman&quot;;text-align:center;"><b>Built<!--Exclude empty div--></b><!--Exclude empty div--><!--Exclude empty p--></p></td><td style="vertical-align:top;font-family:Georgia;;width:45.5pt;vertical-align:middle;border-top:solid windowtext 0.5pt;border-right:solid windowtext 0.5pt;border-bottom:solid windowtext 0.5pt;border-left:solid windowtext 0.5pt;border-top:solid windowtext 0.5pt;border-right:solid windowtext 0.5pt;border-bottom:solid windowtext 0.5pt;border-left:solid windowtext 0.5pt;padding:0pt 5.4pt 0pt 5.4pt;"><p style="margin-left:0pt;margin-right:0pt;margin-top:0pt;margin-bottom:.0001pt;font-size:10.0pt;font-family:&quot;Times New Roman&quot;;text-align:center;"><b>DWT<!--Exclude empty div--></b><!--Exclude empty div--><!--Exclude empty p--></p></td></tr><tr style=";height:0;"><td style="vertical-align:top;font-family:Georgia;;width:95.55pt;vertical-align:middle;border-top:solid windowtext 0.5pt;border-right:solid windowtext 0.5pt;border-bottom:solid windowtext 0.5pt;border-left:solid windowtext 0.5pt;border-top:solid windowtext 0.5pt;border-right:solid windowtext 0.5pt;border-bottom:solid windowtext 0.5pt;border-left:solid windowtext 0.5pt;padding:0pt 5.4pt 0pt 5.4pt;"><p style="margin-left:0pt;margin-right:0pt;margin-top:0pt;margin-bottom:.0001pt;font-size:10.0pt;font-family:&quot;Times New Roman&quot;;">Trade Force Shipping S.A.<!--Exclude empty div--><!--Exclude empty p--></p></td><td style="vertical-align:top;font-family:Georgia;;width:96.1pt;vertical-align:middle;border-top:solid windowtext 0.5pt;border-right:solid windowtext 0.5pt;border-bottom:solid windowtext 0.5pt;border-left:solid windowtext 0.5pt;border-top:solid windowtext 0.5pt;border-right:solid windowtext 0.5pt;border-bottom:solid windowtext 0.5pt;border-left:solid windowtext 0.5pt;padding:0pt 5.4pt 0pt 5.4pt;"><p style="margin-left:0pt;margin-right:0pt;margin-top:0pt;margin-bottom:.0001pt;font-size:10.0pt;font-family:&quot;Times New Roman&quot;;text-align:center;">November 15, 2006<!--Exclude empty div--><!--Exclude empty div--><!--Exclude empty p--></p></td><td style="vertical-align:top;font-family:Georgia;;width:75.7pt;vertical-align:middle;border-top:solid windowtext 0.5pt;border-right:solid windowtext 0.5pt;border-bottom:solid windowtext 0.5pt;border-left:solid windowtext 0.5pt;border-top:solid windowtext 0.5pt;border-right:solid windowtext 0.5pt;border-bottom:solid windowtext 0.5pt;border-left:solid windowtext 0.5pt;padding:0pt 5.4pt 0pt 5.4pt;"><p style="margin-left:0pt;margin-right:0pt;margin-top:0pt;margin-bottom:.0001pt;font-size:10.0pt;font-family:&quot;Times New Roman&quot;;text-align:center;">Marshall Islands<!--Exclude empty div--><!--Exclude empty div--><!--Exclude empty p--></p></td><td style="vertical-align:top;font-family:Georgia;;width:70.85pt;vertical-align:middle;border-top:solid windowtext 0.5pt;border-right:solid windowtext 0.5pt;border-bottom:solid windowtext 0.5pt;border-left:solid windowtext 0.5pt;border-top:solid windowtext 0.5pt;border-right:solid windowtext 0.5pt;border-bottom:solid windowtext 0.5pt;border-left:solid windowtext 0.5pt;padding:0pt 5.4pt 0pt 5.4pt;"><p style="margin-left:0pt;margin-right:0pt;margin-top:0pt;margin-bottom:.0001pt;font-size:10.0pt;font-family:&quot;Times New Roman&quot;;text-align:center;">Deep Seas<!--Exclude empty div--><!--Exclude empty div--><!--Exclude empty p--></p></td><td style="vertical-align:top;font-family:Georgia;;width:70.9pt;vertical-align:middle;border-top:solid windowtext 0.5pt;border-right:solid windowtext 0.5pt;border-bottom:solid windowtext 0.5pt;border-left:solid windowtext 0.5pt;border-top:solid windowtext 0.5pt;border-right:solid windowtext 0.5pt;border-bottom:solid windowtext 0.5pt;border-left:solid windowtext 0.5pt;padding:0pt 5.4pt 0pt 5.4pt;"><p style="margin-left:0pt;margin-right:0pt;margin-top:0pt;margin-bottom:.0001pt;font-size:10.0pt;font-family:&quot;Times New Roman&quot;;text-align:center;">December 2006<!--Exclude empty div--><!--Exclude empty div--><!--Exclude empty p--></p></td><td style="vertical-align:top;font-family:Georgia;;width:45.45pt;vertical-align:middle;border-top:solid windowtext 0.5pt;border-right:solid windowtext 0.5pt;border-bottom:solid windowtext 0.5pt;border-left:solid windowtext 0.5pt;border-top:solid windowtext 0.5pt;border-right:solid windowtext 0.5pt;border-bottom:solid windowtext 0.5pt;border-left:solid windowtext 0.5pt;padding:0pt 5.4pt 0pt 5.4pt;"><p style="margin-left:0pt;margin-right:0pt;margin-top:0pt;margin-bottom:.0001pt;font-size:10.0pt;font-family:&quot;Times New Roman&quot;;text-align:center;">1999<!--Exclude empty div--><!--Exclude empty div--><!--Exclude empty p--></p></td><td style="vertical-align:top;font-family:Georgia;;width:45.5pt;vertical-align:middle;border-top:solid windowtext 0.5pt;border-right:solid windowtext 0.5pt;border-bottom:solid windowtext 0.5pt;border-left:solid windowtext 0.5pt;border-top:solid windowtext 0.5pt;border-right:solid windowtext 0.5pt;border-bottom:solid windowtext 0.5pt;border-left:solid windowtext 0.5pt;padding:0pt 5.4pt 0pt 5.4pt;"><p style="margin-left:0pt;margin-right:0pt;margin-top:0pt;margin-bottom:.0001pt;font-size:10.0pt;font-family:&quot;Times New Roman&quot;;text-align:right;">72,891<!--Exclude empty div--><!--Exclude empty div--><!--Exclude empty p--></p></td></tr><tr style=";height:0;"><td style="vertical-align:top;font-family:Georgia;;width:95.55pt;vertical-align:middle;border-top:solid windowtext 0.5pt;border-right:solid windowtext 0.5pt;border-bottom:solid windowtext 0.5pt;border-left:solid windowtext 0.5pt;border-top:solid windowtext 0.5pt;border-right:solid windowtext 0.5pt;border-bottom:solid windowtext 0.5pt;border-left:solid windowtext 0.5pt;padding:0pt 5.4pt 0pt 5.4pt;"><p style="margin-left:0pt;margin-right:0pt;margin-top:0pt;margin-bottom:.0001pt;font-size:10.0pt;font-family:&quot;Times New Roman&quot;;">Frontline Marine Co.<!--Exclude empty div--><!--Exclude empty p--></p></td><td style="vertical-align:top;font-family:Georgia;;width:96.1pt;vertical-align:middle;border-top:solid windowtext 0.5pt;border-right:solid windowtext 0.5pt;border-bottom:solid windowtext 0.5pt;border-left:solid windowtext 0.5pt;border-top:solid windowtext 0.5pt;border-right:solid windowtext 0.5pt;border-bottom:solid windowtext 0.5pt;border-left:solid windowtext 0.5pt;padding:0pt 5.4pt 0pt 5.4pt;"><p style="margin-left:0pt;margin-right:0pt;margin-top:0pt;margin-bottom:.0001pt;font-size:10.0pt;font-family:&quot;Times New Roman&quot;;text-align:center;">November 15, 2006<!--Exclude empty div--><!--Exclude empty div--><!--Exclude empty p--></p></td><td style="vertical-align:top;font-family:Georgia;;width:75.7pt;vertical-align:middle;border-top:solid windowtext 0.5pt;border-right:solid windowtext 0.5pt;border-bottom:solid windowtext 0.5pt;border-left:solid windowtext 0.5pt;border-top:solid windowtext 0.5pt;border-right:solid windowtext 0.5pt;border-bottom:solid windowtext 0.5pt;border-left:solid windowtext 0.5pt;padding:0pt 5.4pt 0pt 5.4pt;"><p style="margin-left:0pt;margin-right:0pt;margin-top:0pt;margin-bottom:.0001pt;font-size:10.0pt;font-family:&quot;Times New Roman&quot;;text-align:center;">Marshall Islands<!--Exclude empty div--><!--Exclude empty div--><!--Exclude empty p--></p></td><td style="vertical-align:top;font-family:Georgia;;width:70.85pt;vertical-align:middle;border-top:solid windowtext 0.5pt;border-right:solid windowtext 0.5pt;border-bottom:solid windowtext 0.5pt;border-left:solid windowtext 0.5pt;border-top:solid windowtext 0.5pt;border-right:solid windowtext 0.5pt;border-bottom:solid windowtext 0.5pt;border-left:solid windowtext 0.5pt;padding:0pt 5.4pt 0pt 5.4pt;"><p style="margin-left:0pt;margin-right:0pt;margin-top:0pt;margin-bottom:.0001pt;font-size:10.0pt;font-family:&quot;Times New Roman&quot;;text-align:center;">Calm Seas<!--Exclude empty div--><!--Exclude empty div--><!--Exclude empty p--></p></td><td style="vertical-align:top;font-family:Georgia;;width:70.9pt;vertical-align:middle;border-top:solid windowtext 0.5pt;border-right:solid windowtext 0.5pt;border-bottom:solid windowtext 0.5pt;border-left:solid windowtext 0.5pt;border-top:solid windowtext 0.5pt;border-right:solid windowtext 0.5pt;border-bottom:solid windowtext 0.5pt;border-left:solid windowtext 0.5pt;padding:0pt 5.4pt 0pt 5.4pt;"><p style="margin-left:0pt;margin-right:0pt;margin-top:0pt;margin-bottom:.0001pt;font-size:10.0pt;font-family:&quot;Times New Roman&quot;;text-align:center;">December 2006<!--Exclude empty div--><!--Exclude empty div--><!--Exclude empty p--></p></td><td style="vertical-align:top;font-family:Georgia;;width:45.45pt;vertical-align:middle;border-top:solid windowtext 0.5pt;border-right:solid windowtext 0.5pt;border-bottom:solid windowtext 0.5pt;border-left:solid windowtext 0.5pt;border-top:solid windowtext 0.5pt;border-right:solid windowtext 0.5pt;border-bottom:solid windowtext 0.5pt;border-left:solid windowtext 0.5pt;padding:0pt 5.4pt 0pt 5.4pt;"><p style="margin-left:0pt;margin-right:0pt;margin-top:0pt;margin-bottom:.0001pt;font-size:10.0pt;font-family:&quot;Times New Roman&quot;;text-align:center;">1999<!--Exclude empty div--><!--Exclude empty div--><!--Exclude empty p--></p></td><td style="vertical-align:top;font-family:Georgia;;width:45.5pt;vertical-align:middle;border-top:solid windowtext 0.5pt;border-right:solid windowtext 0.5pt;border-bottom:solid windowtext 0.5pt;border-left:solid windowtext 0.5pt;border-top:solid windowtext 0.5pt;border-right:solid windowtext 0.5pt;border-bottom:solid windowtext 0.5pt;border-left:solid windowtext 0.5pt;padding:0pt 5.4pt 0pt 5.4pt;"><p style="margin-left:0pt;margin-right:0pt;margin-top:0pt;margin-bottom:.0001pt;font-size:10.0pt;font-family:&quot;Times New Roman&quot;;text-align:right;">74,047<!--Exclude empty div--><!--Exclude empty div--><!--Exclude empty p--></p></td></tr><tr style=";height:0;"><td style="vertical-align:top;font-family:Georgia;;width:95.55pt;vertical-align:middle;border-top:solid windowtext 0.5pt;border-right:solid windowtext 0.5pt;border-bottom:solid windowtext 0.5pt;border-left:solid windowtext 0.5pt;border-top:solid windowtext 0.5pt;border-right:solid windowtext 0.5pt;border-bottom:solid windowtext 0.5pt;border-left:solid windowtext 0.5pt;padding:0pt 5.4pt 0pt 5.4pt;"><p style="margin-left:0pt;margin-right:0pt;margin-top:0pt;margin-bottom:.0001pt;font-size:10.0pt;font-family:&quot;Times New Roman&quot;;">Fairplay Maritime Ltd.<!--Exclude empty div--><!--Exclude empty p--></p></td><td style="vertical-align:top;font-family:Georgia;;width:96.1pt;vertical-align:middle;border-top:solid windowtext 0.5pt;border-right:solid windowtext 0.5pt;border-bottom:solid windowtext 0.5pt;border-left:solid windowtext 0.5pt;border-top:solid windowtext 0.5pt;border-right:solid windowtext 0.5pt;border-bottom:solid windowtext 0.5pt;border-left:solid windowtext 0.5pt;padding:0pt 5.4pt 0pt 5.4pt;"><p style="margin-left:0pt;margin-right:0pt;margin-top:0pt;margin-bottom:.0001pt;font-size:10.0pt;font-family:&quot;Times New Roman&quot;;text-align:center;">November 15, 2006<!--Exclude empty div--><!--Exclude empty div--><!--Exclude empty p--></p></td><td style="vertical-align:top;font-family:Georgia;;width:75.7pt;vertical-align:middle;border-top:solid windowtext 0.5pt;border-right:solid windowtext 0.5pt;border-bottom:solid windowtext 0.5pt;border-left:solid windowtext 0.5pt;border-top:solid windowtext 0.5pt;border-right:solid windowtext 0.5pt;border-bottom:solid windowtext 0.5pt;border-left:solid windowtext 0.5pt;padding:0pt 5.4pt 0pt 5.4pt;"><p style="margin-left:0pt;margin-right:0pt;margin-top:0pt;margin-bottom:.0001pt;font-size:10.0pt;font-family:&quot;Times New Roman&quot;;text-align:center;">Marshall Islands<!--Exclude empty div--><!--Exclude empty div--><!--Exclude empty p--></p></td><td style="vertical-align:top;font-family:Georgia;;width:70.85pt;vertical-align:middle;border-top:solid windowtext 0.5pt;border-right:solid windowtext 0.5pt;border-bottom:solid windowtext 0.5pt;border-left:solid windowtext 0.5pt;border-top:solid windowtext 0.5pt;border-right:solid windowtext 0.5pt;border-bottom:solid windowtext 0.5pt;border-left:solid windowtext 0.5pt;padding:0pt 5.4pt 0pt 5.4pt;"><p style="margin-left:0pt;margin-right:0pt;margin-top:0pt;margin-bottom:.0001pt;font-size:10.0pt;font-family:&quot;Times New Roman&quot;;text-align:center;">Kind Seas<!--Exclude empty div--><!--Exclude empty div--><!--Exclude empty p--></p></td><td style="vertical-align:top;font-family:Georgia;;width:70.9pt;vertical-align:middle;border-top:solid windowtext 0.5pt;border-right:solid windowtext 0.5pt;border-bottom:solid windowtext 0.5pt;border-left:solid windowtext 0.5pt;border-top:solid windowtext 0.5pt;border-right:solid windowtext 0.5pt;border-bottom:solid windowtext 0.5pt;border-left:solid windowtext 0.5pt;padding:0pt 5.4pt 0pt 5.4pt;"><p style="margin-left:0pt;margin-right:0pt;margin-top:0pt;margin-bottom:.0001pt;font-size:10.0pt;font-family:&quot;Times New Roman&quot;;text-align:center;">December 2006<!--Exclude empty div--><!--Exclude empty div--><!--Exclude empty p--></p></td><td style="vertical-align:top;font-family:Georgia;;width:45.45pt;vertical-align:middle;border-top:solid windowtext 0.5pt;border-right:solid windowtext 0.5pt;border-bottom:solid windowtext 0.5pt;border-left:solid windowtext 0.5pt;border-top:solid windowtext 0.5pt;border-right:solid windowtext 0.5pt;border-bottom:solid windowtext 0.5pt;border-left:solid windowtext 0.5pt;padding:0pt 5.4pt 0pt 5.4pt;"><p style="margin-left:0pt;margin-right:0pt;margin-top:0pt;margin-bottom:.0001pt;font-size:10.0pt;font-family:&quot;Times New Roman&quot;;text-align:center;">1999<!--Exclude empty div--><!--Exclude empty div--><!--Exclude empty p--></p></td><td style="vertical-align:top;font-family:Georgia;;width:45.5pt;vertical-align:middle;border-top:solid windowtext 0.5pt;border-right:solid windowtext 0.5pt;border-bottom:solid windowtext 0.5pt;border-left:solid windowtext 0.5pt;border-top:solid windowtext 0.5pt;border-right:solid windowtext 0.5pt;border-bottom:solid windowtext 0.5pt;border-left:solid windowtext 0.5pt;padding:0pt 5.4pt 0pt 5.4pt;"><p style="margin-left:0pt;margin-right:0pt;margin-top:0pt;margin-bottom:.0001pt;font-size:10.0pt;font-family:&quot;Times New Roman&quot;;text-align:right;">72,493<!--Exclude empty div--><!--Exclude empty div--><!--Exclude empty p--></p></td></tr><tr style=";height:0;"><td style="vertical-align:top;font-family:Georgia;;width:95.55pt;vertical-align:middle;border-top:solid windowtext 0.5pt;border-right:solid windowtext 0.5pt;border-bottom:solid windowtext 0.5pt;border-left:solid windowtext 0.5pt;border-top:solid windowtext 0.5pt;border-right:solid windowtext 0.5pt;border-bottom:solid windowtext 0.5pt;border-left:solid windowtext 0.5pt;padding:0pt 5.4pt 0pt 5.4pt;"><p style="margin-left:0pt;margin-right:0pt;margin-top:0pt;margin-bottom:.0001pt;font-size:10.0pt;font-family:&quot;Times New Roman&quot;;">Donna Marine<!--Exclude empty div--><!--Exclude empty p--></p><p style="margin-left:0pt;margin-right:0pt;margin-top:0pt;margin-bottom:.0001pt;font-size:10.0pt;font-family:&quot;Times New Roman&quot;;">Co.<!--Exclude empty div--><!--Exclude empty p--></p></td><td style="vertical-align:top;font-family:Georgia;;width:96.1pt;vertical-align:middle;border-top:solid windowtext 0.5pt;border-right:solid windowtext 0.5pt;border-bottom:solid windowtext 0.5pt;border-left:solid windowtext 0.5pt;border-top:solid windowtext 0.5pt;border-right:solid windowtext 0.5pt;border-bottom:solid windowtext 0.5pt;border-left:solid windowtext 0.5pt;padding:0pt 5.4pt 0pt 5.4pt;"><p style="margin-left:0pt;margin-right:0pt;margin-top:0pt;margin-bottom:.0001pt;font-size:10.0pt;font-family:&quot;Times New Roman&quot;;text-align:center;">July 4, 2007<!--Exclude empty div--><!--Exclude empty div--><!--Exclude empty p--></p></td><td style="vertical-align:top;font-family:Georgia;;width:75.7pt;vertical-align:middle;border-top:solid windowtext 0.5pt;border-right:solid windowtext 0.5pt;border-bottom:solid windowtext 0.5pt;border-left:solid windowtext 0.5pt;border-top:solid windowtext 0.5pt;border-right:solid windowtext 0.5pt;border-bottom:solid windowtext 0.5pt;border-left:solid windowtext 0.5pt;padding:0pt 5.4pt 0pt 5.4pt;"><p style="margin-left:0pt;margin-right:0pt;margin-top:0pt;margin-bottom:.0001pt;font-size:10.0pt;font-family:&quot;Times New Roman&quot;;text-align:center;">Marshall Islands<!--Exclude empty div--><!--Exclude empty div--><!--Exclude empty p--></p></td><td style="vertical-align:top;font-family:Georgia;;width:70.85pt;vertical-align:middle;border-top:solid windowtext 0.5pt;border-right:solid windowtext 0.5pt;border-bottom:solid windowtext 0.5pt;border-left:solid windowtext 0.5pt;border-top:solid windowtext 0.5pt;border-right:solid windowtext 0.5pt;border-bottom:solid windowtext 0.5pt;border-left:solid windowtext 0.5pt;padding:0pt 5.4pt 0pt 5.4pt;"><p style="margin-left:0pt;margin-right:0pt;margin-top:0pt;margin-bottom:.0001pt;font-size:10.0pt;font-family:&quot;Times New Roman&quot;;text-align:center;">Pearl Seas<!--Exclude empty div--><!--Exclude empty div--><!--Exclude empty p--></p></td><td style="vertical-align:top;font-family:Georgia;;width:70.9pt;vertical-align:middle;border-top:solid windowtext 0.5pt;border-right:solid windowtext 0.5pt;border-bottom:solid windowtext 0.5pt;border-left:solid windowtext 0.5pt;border-top:solid windowtext 0.5pt;border-right:solid windowtext 0.5pt;border-bottom:solid windowtext 0.5pt;border-left:solid windowtext 0.5pt;padding:0pt 5.4pt 0pt 5.4pt;"><p style="margin-left:0pt;margin-right:0pt;margin-top:0pt;margin-bottom:.0001pt;font-size:10.0pt;font-family:&quot;Times New Roman&quot;;text-align:center;">August 2007<!--Exclude empty div--><!--Exclude empty div--><!--Exclude empty p--></p></td><td style="vertical-align:top;font-family:Georgia;;width:45.45pt;vertical-align:middle;border-top:solid windowtext 0.5pt;border-right:solid windowtext 0.5pt;border-bottom:solid windowtext 0.5pt;border-left:solid windowtext 0.5pt;border-top:solid windowtext 0.5pt;border-right:solid windowtext 0.5pt;border-bottom:solid windowtext 0.5pt;border-left:solid windowtext 0.5pt;padding:0pt 5.4pt 0pt 5.4pt;"><p style="margin-left:0pt;margin-right:0pt;margin-top:0pt;margin-bottom:.0001pt;font-size:10.0pt;font-family:&quot;Times New Roman&quot;;text-align:center;">2006<!--Exclude empty div--><!--Exclude empty div--><!--Exclude empty p--></p></td><td style="vertical-align:top;font-family:Georgia;;width:45.5pt;vertical-align:middle;border-top:solid windowtext 0.5pt;border-right:solid windowtext 0.5pt;border-bottom:solid windowtext 0.5pt;border-left:solid windowtext 0.5pt;border-top:solid windowtext 0.5pt;border-right:solid windowtext 0.5pt;border-bottom:solid windowtext 0.5pt;border-left:solid windowtext 0.5pt;padding:0pt 5.4pt 0pt 5.4pt;"><p style="margin-left:0pt;margin-right:0pt;margin-top:0pt;margin-bottom:.0001pt;font-size:10.0pt;font-family:&quot;Times New Roman&quot;;text-align:right;">74,483<!--Exclude empty div--><!--Exclude empty div--><!--Exclude empty p--></p></td></tr><tr style=";height:0;"><td style="vertical-align:top;font-family:Georgia;;width:95.55pt;vertical-align:middle;border-top:solid windowtext 0.5pt;border-right:solid windowtext 0.5pt;border-bottom:solid windowtext 0.5pt;border-left:solid windowtext 0.5pt;border-top:solid windowtext 0.5pt;border-right:solid windowtext 0.5pt;border-bottom:solid windowtext 0.5pt;border-left:solid windowtext 0.5pt;padding:0pt 5.4pt 0pt 5.4pt;"><p style="margin-left:0pt;margin-right:0pt;margin-top:0pt;margin-bottom:.0001pt;font-size:10.0pt;font-family:&quot;Times New Roman&quot;;">Protea International Inc.<!--Exclude empty div--><!--Exclude empty p--></p></td><td style="vertical-align:top;font-family:Georgia;;width:96.1pt;vertical-align:middle;border-top:solid windowtext 0.5pt;border-right:solid windowtext 0.5pt;border-bottom:solid windowtext 0.5pt;border-left:solid windowtext 0.5pt;border-top:solid windowtext 0.5pt;border-right:solid windowtext 0.5pt;border-bottom:solid windowtext 0.5pt;border-left:solid windowtext 0.5pt;padding:0pt 5.4pt 0pt 5.4pt;"><p style="margin-left:0pt;margin-right:0pt;margin-top:0pt;margin-bottom:.0001pt;font-size:10.0pt;font-family:&quot;Times New Roman&quot;;text-align:center;">July 17, 2007<!--Exclude empty div--><!--Exclude empty div--><!--Exclude empty p--></p></td><td style="vertical-align:top;font-family:Georgia;;width:75.7pt;vertical-align:middle;border-top:solid windowtext 0.5pt;border-right:solid windowtext 0.5pt;border-bottom:solid windowtext 0.5pt;border-left:solid windowtext 0.5pt;border-top:solid windowtext 0.5pt;border-right:solid windowtext 0.5pt;border-bottom:solid windowtext 0.5pt;border-left:solid windowtext 0.5pt;padding:0pt 5.4pt 0pt 5.4pt;"><p style="margin-left:0pt;margin-right:0pt;margin-top:0pt;margin-bottom:.0001pt;font-size:10.0pt;font-family:&quot;Times New Roman&quot;;text-align:center;">Liberia<!--Exclude empty div--><!--Exclude empty div--><!--Exclude empty p--></p></td><td style="vertical-align:top;font-family:Georgia;;width:70.85pt;vertical-align:middle;border-top:solid windowtext 0.5pt;border-right:solid windowtext 0.5pt;border-bottom:solid windowtext 0.5pt;border-left:solid windowtext 0.5pt;border-top:solid windowtext 0.5pt;border-right:solid windowtext 0.5pt;border-bottom:solid windowtext 0.5pt;border-left:solid windowtext 0.5pt;padding:0pt 5.4pt 0pt 5.4pt;"><p style="margin-left:0pt;margin-right:0pt;margin-top:0pt;margin-bottom:.0001pt;font-size:10.0pt;font-family:&quot;Times New Roman&quot;;text-align:center;">Sapphire Seas<!--Exclude empty div--><!--Exclude empty div--><!--Exclude empty p--></p></td><td style="vertical-align:top;font-family:Georgia;;width:70.9pt;vertical-align:middle;border-top:solid windowtext 0.5pt;border-right:solid windowtext 0.5pt;border-bottom:solid windowtext 0.5pt;border-left:solid windowtext 0.5pt;border-top:solid windowtext 0.5pt;border-right:solid windowtext 0.5pt;border-bottom:solid windowtext 0.5pt;border-left:solid windowtext 0.5pt;padding:0pt 5.4pt 0pt 5.4pt;"><p style="margin-left:0pt;margin-right:0pt;margin-top:0pt;margin-bottom:.0001pt;font-size:10.0pt;font-family:&quot;Times New Roman&quot;;text-align:center;">August 2007<!--Exclude empty div--><!--Exclude empty div--><!--Exclude empty p--></p></td><td style="vertical-align:top;font-family:Georgia;;width:45.45pt;vertical-align:middle;border-top:solid windowtext 0.5pt;border-right:solid windowtext 0.5pt;border-bottom:solid windowtext 0.5pt;border-left:solid windowtext 0.5pt;border-top:solid windowtext 0.5pt;border-right:solid windowtext 0.5pt;border-bottom:solid windowtext 0.5pt;border-left:solid windowtext 0.5pt;padding:0pt 5.4pt 0pt 5.4pt;"><p style="margin-left:0pt;margin-right:0pt;margin-top:0pt;margin-bottom:.0001pt;font-size:10.0pt;font-family:&quot;Times New Roman&quot;;text-align:center;">2005<!--Exclude empty div--><!--Exclude empty div--><!--Exclude empty p--></p></td><td style="vertical-align:top;font-family:Georgia;;width:45.5pt;vertical-align:middle;border-top:solid windowtext 0.5pt;border-right:solid windowtext 0.5pt;border-bottom:solid windowtext 0.5pt;border-left:solid windowtext 0.5pt;border-top:solid windowtext 0.5pt;border-right:solid windowtext 0.5pt;border-bottom:solid windowtext 0.5pt;border-left:solid windowtext 0.5pt;padding:0pt 5.4pt 0pt 5.4pt;"><p style="margin-left:0pt;margin-right:0pt;margin-top:0pt;margin-bottom:.0001pt;font-size:10.0pt;font-family:&quot;Times New Roman&quot;;text-align:right;">53,702<!--Exclude empty div--><!--Exclude empty div--><!--Exclude empty p--></p></td></tr><tr style=";height:0;"><td style="vertical-align:top;font-family:Georgia;;width:95.55pt;vertical-align:middle;border-top:solid windowtext 0.5pt;border-right:solid windowtext 0.5pt;border-bottom:solid windowtext 0.5pt;border-left:solid windowtext 0.5pt;border-top:solid windowtext 0.5pt;border-right:solid windowtext 0.5pt;border-bottom:solid windowtext 0.5pt;border-left:solid windowtext 0.5pt;padding:0pt 5.4pt 0pt 5.4pt;"><p style="margin-left:0pt;margin-right:0pt;margin-top:0pt;margin-bottom:.0001pt;font-size:10.0pt;font-family:&quot;Times New Roman&quot;;">Reading Navigation Co.<!--Exclude empty div--><!--Exclude empty p--></p></td><td style="vertical-align:top;font-family:Georgia;;width:96.1pt;vertical-align:middle;border-top:solid windowtext 0.5pt;border-right:solid windowtext 0.5pt;border-bottom:solid windowtext 0.5pt;border-left:solid windowtext 0.5pt;border-top:solid windowtext 0.5pt;border-right:solid windowtext 0.5pt;border-bottom:solid windowtext 0.5pt;border-left:solid windowtext 0.5pt;padding:0pt 5.4pt 0pt 5.4pt;"><p style="margin-left:0pt;margin-right:0pt;margin-top:0pt;margin-bottom:.0001pt;font-size:10.0pt;font-family:&quot;Times New Roman&quot;;text-align:center;">July 17, 2007<!--Exclude empty div--><!--Exclude empty div--><!--Exclude empty p--></p></td><td style="vertical-align:top;font-family:Georgia;;width:75.7pt;vertical-align:middle;border-top:solid windowtext 0.5pt;border-right:solid windowtext 0.5pt;border-bottom:solid windowtext 0.5pt;border-left:solid windowtext 0.5pt;border-top:solid windowtext 0.5pt;border-right:solid windowtext 0.5pt;border-bottom:solid windowtext 0.5pt;border-left:solid windowtext 0.5pt;padding:0pt 5.4pt 0pt 5.4pt;"><p style="margin-left:0pt;margin-right:0pt;margin-top:0pt;margin-bottom:.0001pt;font-size:10.0pt;font-family:&quot;Times New Roman&quot;;text-align:center;">Liberia<!--Exclude empty div--><!--Exclude empty div--><!--Exclude empty p--></p></td><td style="vertical-align:top;font-family:Georgia;;width:70.85pt;vertical-align:middle;border-top:solid windowtext 0.5pt;border-right:solid windowtext 0.5pt;border-bottom:solid windowtext 0.5pt;border-left:solid windowtext 0.5pt;border-top:solid windowtext 0.5pt;border-right:solid windowtext 0.5pt;border-bottom:solid windowtext 0.5pt;border-left:solid windowtext 0.5pt;padding:0pt 5.4pt 0pt 5.4pt;"><p style="margin-left:0pt;margin-right:0pt;margin-top:0pt;margin-bottom:.0001pt;font-size:10.0pt;font-family:&quot;Times New Roman&quot;;text-align:center;">Diamond Seas<!--Exclude empty div--><!--Exclude empty div--><!--Exclude empty p--></p></td><td style="vertical-align:top;font-family:Georgia;;width:70.9pt;vertical-align:middle;border-top:solid windowtext 0.5pt;border-right:solid windowtext 0.5pt;border-bottom:solid windowtext 0.5pt;border-left:solid windowtext 0.5pt;border-top:solid windowtext 0.5pt;border-right:solid windowtext 0.5pt;border-bottom:solid windowtext 0.5pt;border-left:solid windowtext 0.5pt;padding:0pt 5.4pt 0pt 5.4pt;"><p style="margin-left:0pt;margin-right:0pt;margin-top:0pt;margin-bottom:.0001pt;font-size:10.0pt;font-family:&quot;Times New Roman&quot;;text-align:center;">September 2007<!--Exclude empty div--><!--Exclude empty div--><!--Exclude empty p--></p></td><td style="vertical-align:top;font-family:Georgia;;width:45.45pt;vertical-align:middle;border-top:solid windowtext 0.5pt;border-right:solid windowtext 0.5pt;border-bottom:solid windowtext 0.5pt;border-left:solid windowtext 0.5pt;border-top:solid windowtext 0.5pt;border-right:solid windowtext 0.5pt;border-bottom:solid windowtext 0.5pt;border-left:solid windowtext 0.5pt;padding:0pt 5.4pt 0pt 5.4pt;"><p style="margin-left:0pt;margin-right:0pt;margin-top:0pt;margin-bottom:.0001pt;font-size:10.0pt;font-family:&quot;Times New Roman&quot;;text-align:center;">2001<!--Exclude empty div--><!--Exclude empty div--><!--Exclude empty p--></p></td><td style="vertical-align:top;font-family:Georgia;;width:45.5pt;vertical-align:middle;border-top:solid windowtext 0.5pt;border-right:solid windowtext 0.5pt;border-bottom:solid windowtext 0.5pt;border-left:solid windowtext 0.5pt;border-top:solid windowtext 0.5pt;border-right:solid windowtext 0.5pt;border-bottom:solid windowtext 0.5pt;border-left:solid windowtext 0.5pt;padding:0pt 5.4pt 0pt 5.4pt;"><p style="margin-left:0pt;margin-right:0pt;margin-top:0pt;margin-bottom:.0001pt;font-size:10.0pt;font-family:&quot;Times New Roman&quot;;text-align:right;">74,274<!--Exclude empty div--><!--Exclude empty div--><!--Exclude empty p--></p></td></tr><tr style=";height:0;"><td style="vertical-align:top;font-family:Georgia;;width:95.55pt;vertical-align:middle;border-top:solid windowtext 0.5pt;border-right:solid windowtext 0.5pt;border-bottom:solid windowtext 0.5pt;border-left:solid windowtext 0.5pt;border-top:solid windowtext 0.5pt;border-right:solid windowtext 0.5pt;border-bottom:solid windowtext 0.5pt;border-left:solid windowtext 0.5pt;padding:0pt 5.4pt 0pt 5.4pt;"><p style="margin-left:0pt;margin-right:0pt;margin-top:0pt;margin-bottom:.0001pt;font-size:10.0pt;font-family:&quot;Times New Roman&quot;;">Imperator I Maritime Company<!--Exclude empty div--><!--Exclude empty p--></p></td><td style="vertical-align:top;font-family:Georgia;;width:96.1pt;vertical-align:middle;border-top:solid windowtext 0.5pt;border-right:solid windowtext 0.5pt;border-bottom:solid windowtext 0.5pt;border-left:solid windowtext 0.5pt;border-top:solid windowtext 0.5pt;border-right:solid windowtext 0.5pt;border-bottom:solid windowtext 0.5pt;border-left:solid windowtext 0.5pt;padding:0pt 5.4pt 0pt 5.4pt;"><p style="margin-left:0pt;margin-right:0pt;margin-top:0pt;margin-bottom:.0001pt;font-size:10.0pt;font-family:&quot;Times New Roman&quot;;text-align:center;">September 27, 2007<!--Exclude empty div--><!--Exclude empty div--><!--Exclude empty p--></p></td><td style="vertical-align:top;font-family:Georgia;;width:75.7pt;vertical-align:middle;border-top:solid windowtext 0.5pt;border-right:solid windowtext 0.5pt;border-bottom:solid windowtext 0.5pt;border-left:solid windowtext 0.5pt;border-top:solid windowtext 0.5pt;border-right:solid windowtext 0.5pt;border-bottom:solid windowtext 0.5pt;border-left:solid windowtext 0.5pt;padding:0pt 5.4pt 0pt 5.4pt;"><p style="margin-left:0pt;margin-right:0pt;margin-top:0pt;margin-bottom:.0001pt;font-size:10.0pt;font-family:&quot;Times New Roman&quot;;text-align:center;">Marshall Islands<!--Exclude empty div--><!--Exclude empty div--><!--Exclude empty p--></p></td><td style="vertical-align:top;font-family:Georgia;;width:70.85pt;vertical-align:middle;border-top:solid windowtext 0.5pt;border-right:solid windowtext 0.5pt;border-bottom:solid windowtext 0.5pt;border-left:solid windowtext 0.5pt;border-top:solid windowtext 0.5pt;border-right:solid windowtext 0.5pt;border-bottom:solid windowtext 0.5pt;border-left:solid windowtext 0.5pt;padding:0pt 5.4pt 0pt 5.4pt;"><p style="margin-left:0pt;margin-right:0pt;margin-top:0pt;margin-bottom:.0001pt;font-size:10.0pt;font-family:&quot;Times New Roman&quot;;text-align:center;">Coral Seas<!--Exclude empty div--><!--Exclude empty div--><!--Exclude empty p--></p></td><td style="vertical-align:top;font-family:Georgia;;width:70.9pt;vertical-align:middle;border-top:solid windowtext 0.5pt;border-right:solid windowtext 0.5pt;border-bottom:solid windowtext 0.5pt;border-left:solid windowtext 0.5pt;border-top:solid windowtext 0.5pt;border-right:solid windowtext 0.5pt;border-bottom:solid windowtext 0.5pt;border-left:solid windowtext 0.5pt;padding:0pt 5.4pt 0pt 5.4pt;"><p style="margin-left:0pt;margin-right:0pt;margin-top:0pt;margin-bottom:.0001pt;font-size:10.0pt;font-family:&quot;Times New Roman&quot;;text-align:center;">November 2007<!--Exclude empty div--><!--Exclude empty div--><!--Exclude empty p--></p></td><td style="vertical-align:top;font-family:Georgia;;width:45.45pt;vertical-align:middle;border-top:solid windowtext 0.5pt;border-right:solid windowtext 0.5pt;border-bottom:solid windowtext 0.5pt;border-left:solid windowtext 0.5pt;border-top:solid windowtext 0.5pt;border-right:solid windowtext 0.5pt;border-bottom:solid windowtext 0.5pt;border-left:solid windowtext 0.5pt;padding:0pt 5.4pt 0pt 5.4pt;"><p style="margin-left:0pt;margin-right:0pt;margin-top:0pt;margin-bottom:.0001pt;font-size:10.0pt;font-family:&quot;Times New Roman&quot;;text-align:center;">2006<!--Exclude empty div--><!--Exclude empty div--><!--Exclude empty p--></p></td><td style="vertical-align:top;font-family:Georgia;;width:45.5pt;vertical-align:middle;border-top:solid windowtext 0.5pt;border-right:solid windowtext 0.5pt;border-bottom:solid windowtext 0.5pt;border-left:solid windowtext 0.5pt;border-top:solid windowtext 0.5pt;border-right:solid windowtext 0.5pt;border-bottom:solid windowtext 0.5pt;border-left:solid windowtext 0.5pt;padding:0pt 5.4pt 0pt 5.4pt;"><p style="margin-left:0pt;margin-right:0pt;margin-top:0pt;margin-bottom:.0001pt;font-size:10.0pt;font-family:&quot;Times New Roman&quot;;text-align:right;">74,477<!--Exclude empty div--><!--Exclude empty div--><!--Exclude empty p--></p></td></tr><tr style=";height:0;"><td style="vertical-align:top;font-family:Georgia;;width:95.55pt;vertical-align:middle;border-top:solid windowtext 0.5pt;border-right:solid windowtext 0.5pt;border-bottom:solid windowtext 0.5pt;border-left:solid windowtext 0.5pt;border-top:solid windowtext 0.5pt;border-right:solid windowtext 0.5pt;border-bottom:solid windowtext 0.5pt;border-left:solid windowtext 0.5pt;padding:0pt 5.4pt 0pt 5.4pt;"><p style="margin-left:0pt;margin-right:0pt;margin-top:0pt;margin-bottom:.0001pt;font-size:10.0pt;font-family:&quot;Times New Roman&quot;;">Canyon I Navigation Corp.<!--Exclude empty div--><!--Exclude empty p--></p></td><td style="vertical-align:top;font-family:Georgia;;width:96.1pt;vertical-align:middle;border-top:solid windowtext 0.5pt;border-right:solid windowtext 0.5pt;border-bottom:solid windowtext 0.5pt;border-left:solid windowtext 0.5pt;border-top:solid windowtext 0.5pt;border-right:solid windowtext 0.5pt;border-bottom:solid windowtext 0.5pt;border-left:solid windowtext 0.5pt;padding:0pt 5.4pt 0pt 5.4pt;"><p style="margin-left:0pt;margin-right:0pt;margin-top:0pt;margin-bottom:.0001pt;font-size:10.0pt;font-family:&quot;Times New Roman&quot;;text-align:center;">September 27, 2007<!--Exclude empty div--><!--Exclude empty div--><!--Exclude empty p--></p></td><td style="vertical-align:top;font-family:Georgia;;width:75.7pt;vertical-align:middle;border-top:solid windowtext 0.5pt;border-right:solid windowtext 0.5pt;border-bottom:solid windowtext 0.5pt;border-left:solid windowtext 0.5pt;border-top:solid windowtext 0.5pt;border-right:solid windowtext 0.5pt;border-bottom:solid windowtext 0.5pt;border-left:solid windowtext 0.5pt;padding:0pt 5.4pt 0pt 5.4pt;"><p style="margin-left:0pt;margin-right:0pt;margin-top:0pt;margin-bottom:.0001pt;font-size:10.0pt;font-family:&quot;Times New Roman&quot;;text-align:center;">Marshall Islands<!--Exclude empty div--><!--Exclude empty div--><!--Exclude empty p--></p></td><td style="vertical-align:top;font-family:Georgia;;width:70.85pt;vertical-align:middle;border-top:solid windowtext 0.5pt;border-right:solid windowtext 0.5pt;border-bottom:solid windowtext 0.5pt;border-left:solid windowtext 0.5pt;border-top:solid windowtext 0.5pt;border-right:solid windowtext 0.5pt;border-bottom:solid windowtext 0.5pt;border-left:solid windowtext 0.5pt;padding:0pt 5.4pt 0pt 5.4pt;"><p style="margin-left:0pt;margin-right:0pt;margin-top:0pt;margin-bottom:.0001pt;font-size:10.0pt;font-family:&quot;Times New Roman&quot;;text-align:center;">Golden Seas<!--Exclude empty div--><!--Exclude empty div--><!--Exclude empty p--></p></td><td style="vertical-align:top;font-family:Georgia;;width:70.9pt;vertical-align:middle;border-top:solid windowtext 0.5pt;border-right:solid windowtext 0.5pt;border-bottom:solid windowtext 0.5pt;border-left:solid windowtext 0.5pt;border-top:solid windowtext 0.5pt;border-right:solid windowtext 0.5pt;border-bottom:solid windowtext 0.5pt;border-left:solid windowtext 0.5pt;padding:0pt 5.4pt 0pt 5.4pt;"><p style="margin-left:0pt;margin-right:0pt;margin-top:0pt;margin-bottom:.0001pt;font-size:10.0pt;font-family:&quot;Times New Roman&quot;;text-align:center;">December 2007<!--Exclude empty div--><!--Exclude empty div--><!--Exclude empty p--></p></td><td style="vertical-align:top;font-family:Georgia;;width:45.45pt;vertical-align:middle;border-top:solid windowtext 0.5pt;border-right:solid windowtext 0.5pt;border-bottom:solid windowtext 0.5pt;border-left:solid windowtext 0.5pt;border-top:solid windowtext 0.5pt;border-right:solid windowtext 0.5pt;border-bottom:solid windowtext 0.5pt;border-left:solid windowtext 0.5pt;padding:0pt 5.4pt 0pt 5.4pt;"><p style="margin-left:0pt;margin-right:0pt;margin-top:0pt;margin-bottom:.0001pt;font-size:10.0pt;font-family:&quot;Times New Roman&quot;;text-align:center;">2006<!--Exclude empty div--><!--Exclude empty div--><!--Exclude empty p--></p></td><td style="vertical-align:top;font-family:Georgia;;width:45.5pt;vertical-align:middle;border-top:solid windowtext 0.5pt;border-right:solid windowtext 0.5pt;border-bottom:solid windowtext 0.5pt;border-left:solid windowtext 0.5pt;border-top:solid windowtext 0.5pt;border-right:solid windowtext 0.5pt;border-bottom:solid windowtext 0.5pt;border-left:solid windowtext 0.5pt;padding:0pt 5.4pt 0pt 5.4pt;"><p style="margin-left:0pt;margin-right:0pt;margin-top:0pt;margin-bottom:.0001pt;font-size:10.0pt;font-family:&quot;Times New Roman&quot;;text-align:right;">74,475<!--Exclude empty div--><!--Exclude empty div--><!--Exclude empty p--></p></td></tr><tr style=";height:0;"><td style="vertical-align:top;font-family:Georgia;;width:95.55pt;vertical-align:middle;border-top:solid windowtext 0.5pt;border-right:solid windowtext 0.5pt;border-bottom:solid windowtext 0.5pt;border-left:solid windowtext 0.5pt;border-top:solid windowtext 0.5pt;border-right:solid windowtext 0.5pt;border-bottom:solid windowtext 0.5pt;border-left:solid windowtext 0.5pt;padding:0pt 5.4pt 0pt 5.4pt;"><p style="margin-left:0pt;margin-right:0pt;margin-top:0pt;margin-bottom:.0001pt;font-size:10.0pt;font-family:&quot;Times New Roman&quot;;">Paloma Marine<!--Exclude empty div--><!--Exclude empty p--></p><p style="margin-left:0pt;margin-right:0pt;margin-top:0pt;margin-bottom:.0001pt;font-size:10.0pt;font-family:&quot;Times New Roman&quot;;">S.A.<!--Exclude empty div--><!--Exclude empty p--></p></td><td style="vertical-align:top;font-family:Georgia;;width:96.1pt;vertical-align:middle;border-top:solid windowtext 0.5pt;border-right:solid windowtext 0.5pt;border-bottom:solid windowtext 0.5pt;border-left:solid windowtext 0.5pt;border-top:solid windowtext 0.5pt;border-right:solid windowtext 0.5pt;border-bottom:solid windowtext 0.5pt;border-left:solid windowtext 0.5pt;padding:0pt 5.4pt 0pt 5.4pt;"><p style="margin-left:0pt;margin-right:0pt;margin-top:0pt;margin-bottom:.0001pt;font-size:10.0pt;font-family:&quot;Times New Roman&quot;;text-align:center;">June 19, 2008<!--Exclude empty div--><!--Exclude empty div--><!--Exclude empty p--></p></td><td style="vertical-align:top;font-family:Georgia;;width:75.7pt;vertical-align:middle;border-top:solid windowtext 0.5pt;border-right:solid windowtext 0.5pt;border-bottom:solid windowtext 0.5pt;border-left:solid windowtext 0.5pt;border-top:solid windowtext 0.5pt;border-right:solid windowtext 0.5pt;border-bottom:solid windowtext 0.5pt;border-left:solid windowtext 0.5pt;padding:0pt 5.4pt 0pt 5.4pt;"><p style="margin-left:0pt;margin-right:0pt;margin-top:0pt;margin-bottom:.0001pt;font-size:10.0pt;font-family:&quot;Times New Roman&quot;;text-align:center;">Liberia<!--Exclude empty div--><!--Exclude empty div--><!--Exclude empty p--></p></td><td style="vertical-align:top;font-family:Georgia;;width:70.85pt;vertical-align:middle;border-top:solid windowtext 0.5pt;border-right:solid windowtext 0.5pt;border-bottom:solid windowtext 0.5pt;border-left:solid windowtext 0.5pt;border-top:solid windowtext 0.5pt;border-right:solid windowtext 0.5pt;border-bottom:solid windowtext 0.5pt;border-left:solid windowtext 0.5pt;padding:0pt 5.4pt 0pt 5.4pt;"><p style="margin-left:0pt;margin-right:0pt;margin-top:0pt;margin-bottom:.0001pt;font-size:10.0pt;font-family:&quot;Times New Roman&quot;;text-align:center;">Friendly Seas<!--Exclude empty div--><!--Exclude empty div--><!--Exclude empty p--></p></td><td style="vertical-align:top;font-family:Georgia;;width:70.9pt;vertical-align:middle;border-top:solid windowtext 0.5pt;border-right:solid windowtext 0.5pt;border-bottom:solid windowtext 0.5pt;border-left:solid windowtext 0.5pt;border-top:solid windowtext 0.5pt;border-right:solid windowtext 0.5pt;border-bottom:solid windowtext 0.5pt;border-left:solid windowtext 0.5pt;padding:0pt 5.4pt 0pt 5.4pt;"><p style="margin-left:0pt;margin-right:0pt;margin-top:0pt;margin-bottom:.0001pt;font-size:10.0pt;font-family:&quot;Times New Roman&quot;;text-align:center;">August 2008<!--Exclude empty div--><!--Exclude empty div--><!--Exclude empty p--></p></td><td style="vertical-align:top;font-family:Georgia;;width:45.45pt;vertical-align:middle;border-top:solid windowtext 0.5pt;border-right:solid windowtext 0.5pt;border-bottom:solid windowtext 0.5pt;border-left:solid windowtext 0.5pt;border-top:solid windowtext 0.5pt;border-right:solid windowtext 0.5pt;border-bottom:solid windowtext 0.5pt;border-left:solid windowtext 0.5pt;padding:0pt 5.4pt 0pt 5.4pt;"><p style="margin-left:0pt;margin-right:0pt;margin-top:0pt;margin-bottom:.0001pt;font-size:10.0pt;font-family:&quot;Times New Roman&quot;;text-align:center;">2008<!--Exclude empty div--><!--Exclude empty div--><!--Exclude empty p--></p></td><td style="vertical-align:top;font-family:Georgia;;width:45.5pt;vertical-align:middle;border-top:solid windowtext 0.5pt;border-right:solid windowtext 0.5pt;border-bottom:solid windowtext 0.5pt;border-left:solid windowtext 0.5pt;border-top:solid windowtext 0.5pt;border-right:solid windowtext 0.5pt;border-bottom:solid windowtext 0.5pt;border-left:solid windowtext 0.5pt;padding:0pt 5.4pt 0pt 5.4pt;"><p style="margin-left:0pt;margin-right:0pt;margin-top:0pt;margin-bottom:.0001pt;font-size:10.0pt;font-family:&quot;Times New Roman&quot;;text-align:right;">58,779<!--Exclude empty div--><!--Exclude empty div--><!--Exclude empty p--></p></td></tr><tr style=";height:0;"><td style="vertical-align:top;font-family:Georgia;;width:95.55pt;vertical-align:middle;border-top:solid windowtext 0.5pt;border-right:solid windowtext 0.5pt;border-bottom:solid windowtext 0.5pt;border-left:solid windowtext 0.5pt;border-top:solid windowtext 0.5pt;border-right:solid windowtext 0.5pt;border-bottom:solid windowtext 0.5pt;border-left:solid windowtext 0.5pt;padding:0pt 5.4pt 0pt 5.4pt;"><p style="margin-left:0pt;margin-right:0pt;margin-top:0pt;margin-bottom:.0001pt;font-size:10.0pt;font-family:&quot;Times New Roman&quot;;">Eris Shipping<!--Exclude empty div--><!--Exclude empty p--></p><p style="margin-left:0pt;margin-right:0pt;margin-top:0pt;margin-bottom:.0001pt;font-size:10.0pt;font-family:&quot;Times New Roman&quot;;">S.A.<!--Exclude empty div--><!--Exclude empty p--></p></td><td style="vertical-align:top;font-family:Georgia;;width:96.1pt;vertical-align:middle;border-top:solid windowtext 0.5pt;border-right:solid windowtext 0.5pt;border-bottom:solid windowtext 0.5pt;border-left:solid windowtext 0.5pt;border-top:solid windowtext 0.5pt;border-right:solid windowtext 0.5pt;border-bottom:solid windowtext 0.5pt;border-left:solid windowtext 0.5pt;padding:0pt 5.4pt 0pt 5.4pt;"><p style="margin-left:0pt;margin-right:0pt;margin-top:0pt;margin-bottom:.0001pt;font-size:10.0pt;font-family:&quot;Times New Roman&quot;;text-align:center;">April 8, 2010<!--Exclude empty div--><!--Exclude empty div--><!--Exclude empty p--></p></td><td style="vertical-align:top;font-family:Georgia;;width:75.7pt;vertical-align:middle;border-top:solid windowtext 0.5pt;border-right:solid windowtext 0.5pt;border-bottom:solid windowtext 0.5pt;border-left:solid windowtext 0.5pt;border-top:solid windowtext 0.5pt;border-right:solid windowtext 0.5pt;border-bottom:solid windowtext 0.5pt;border-left:solid windowtext 0.5pt;padding:0pt 5.4pt 0pt 5.4pt;"><p style="margin-left:0pt;margin-right:0pt;margin-top:0pt;margin-bottom:.0001pt;font-size:10.0pt;font-family:&quot;Times New Roman&quot;;text-align:center;">Liberia<!--Exclude empty div--><!--Exclude empty div--><!--Exclude empty p--></p></td><td style="vertical-align:top;font-family:Georgia;;width:70.85pt;vertical-align:middle;border-top:solid windowtext 0.5pt;border-right:solid windowtext 0.5pt;border-bottom:solid windowtext 0.5pt;border-left:solid windowtext 0.5pt;border-top:solid windowtext 0.5pt;border-right:solid windowtext 0.5pt;border-bottom:solid windowtext 0.5pt;border-left:solid windowtext 0.5pt;padding:0pt 5.4pt 0pt 5.4pt;"><p style="margin-left:0pt;margin-right:0pt;margin-top:0pt;margin-bottom:.0001pt;font-size:10.0pt;font-family:&quot;Times New Roman&quot;;text-align:center;">Dream Seas<!--Exclude empty div--><!--Exclude empty div--><!--Exclude empty p--></p></td><td style="vertical-align:top;font-family:Georgia;;width:70.9pt;vertical-align:middle;border-top:solid windowtext 0.5pt;border-right:solid windowtext 0.5pt;border-bottom:solid windowtext 0.5pt;border-left:solid windowtext 0.5pt;border-top:solid windowtext 0.5pt;border-right:solid windowtext 0.5pt;border-bottom:solid windowtext 0.5pt;border-left:solid windowtext 0.5pt;padding:0pt 5.4pt 0pt 5.4pt;"><p style="margin-left:0pt;margin-right:0pt;margin-top:0pt;margin-bottom:.0001pt;font-size:10.0pt;font-family:&quot;Times New Roman&quot;;text-align:center;">July 2010<!--Exclude empty div--><!--Exclude empty div--><!--Exclude empty p--></p></td><td style="vertical-align:top;font-family:Georgia;;width:45.45pt;vertical-align:middle;border-top:solid windowtext 0.5pt;border-right:solid windowtext 0.5pt;border-bottom:solid windowtext 0.5pt;border-left:solid windowtext 0.5pt;border-top:solid windowtext 0.5pt;border-right:solid windowtext 0.5pt;border-bottom:solid windowtext 0.5pt;border-left:solid windowtext 0.5pt;padding:0pt 5.4pt 0pt 5.4pt;"><p style="margin-left:0pt;margin-right:0pt;margin-top:0pt;margin-bottom:.0001pt;font-size:10.0pt;font-family:&quot;Times New Roman&quot;;text-align:center;">2009<!--Exclude empty div--><!--Exclude empty div--><!--Exclude empty p--></p></td><td style="vertical-align:top;font-family:Georgia;;width:45.5pt;vertical-align:middle;border-top:solid windowtext 0.5pt;border-right:solid windowtext 0.5pt;border-bottom:solid windowtext 0.5pt;border-left:solid windowtext 0.5pt;border-top:solid windowtext 0.5pt;border-right:solid windowtext 0.5pt;border-bottom:solid windowtext 0.5pt;border-left:solid windowtext 0.5pt;padding:0pt 5.4pt 0pt 5.4pt;"><p style="margin-left:0pt;margin-right:0pt;margin-top:0pt;margin-bottom:.0001pt;font-size:10.0pt;font-family:&quot;Times New Roman&quot;;text-align:right;">75,151<!--Exclude empty div--><!--Exclude empty div--><!--Exclude empty p--></p></td></tr><tr style=";height:0;"><td style="vertical-align:top;font-family:Georgia;;width:95.55pt;vertical-align:middle;border-top:solid windowtext 0.5pt;border-right:solid windowtext 0.5pt;border-bottom:solid windowtext 0.5pt;border-left:solid windowtext 0.5pt;border-top:solid windowtext 0.5pt;border-right:solid windowtext 0.5pt;border-bottom:solid windowtext 0.5pt;border-left:solid windowtext 0.5pt;padding:0pt 5.4pt 0pt 5.4pt;"><p style="margin-left:0pt;margin-right:0pt;margin-top:0pt;margin-bottom:.0001pt;font-size:10.0pt;font-family:&quot;Times New Roman&quot;;">Coral Ventures<!--Exclude empty div--><!--Exclude empty p--></p><p style="margin-left:0pt;margin-right:0pt;margin-top:0pt;margin-bottom:.0001pt;font-size:10.0pt;font-family:&quot;Times New Roman&quot;;">Inc.<!--Exclude empty div--><!--Exclude empty p--></p></td><td style="vertical-align:top;font-family:Georgia;;width:96.1pt;vertical-align:middle;border-top:solid windowtext 0.5pt;border-right:solid windowtext 0.5pt;border-bottom:solid windowtext 0.5pt;border-left:solid windowtext 0.5pt;border-top:solid windowtext 0.5pt;border-right:solid windowtext 0.5pt;border-bottom:solid windowtext 0.5pt;border-left:solid windowtext 0.5pt;padding:0pt 5.4pt 0pt 5.4pt;"><p style="margin-left:0pt;margin-right:0pt;margin-top:0pt;margin-bottom:.0001pt;font-size:10.0pt;font-family:&quot;Times New Roman&quot;;text-align:center;">August 5, 2009<!--Exclude empty div--><!--Exclude empty div--><!--Exclude empty p--></p></td><td style="vertical-align:top;font-family:Georgia;;width:75.7pt;vertical-align:middle;border-top:solid windowtext 0.5pt;border-right:solid windowtext 0.5pt;border-bottom:solid windowtext 0.5pt;border-left:solid windowtext 0.5pt;border-top:solid windowtext 0.5pt;border-right:solid windowtext 0.5pt;border-bottom:solid windowtext 0.5pt;border-left:solid windowtext 0.5pt;padding:0pt 5.4pt 0pt 5.4pt;"><p style="margin-left:0pt;margin-right:0pt;margin-top:0pt;margin-bottom:.0001pt;font-size:10.0pt;font-family:&quot;Times New Roman&quot;;text-align:center;">Liberia<!--Exclude empty div--><!--Exclude empty div--><!--Exclude empty p--></p></td><td style="vertical-align:top;font-family:Georgia;;width:70.85pt;vertical-align:middle;border-top:solid windowtext 0.5pt;border-right:solid windowtext 0.5pt;border-bottom:solid windowtext 0.5pt;border-left:solid windowtext 0.5pt;border-top:solid windowtext 0.5pt;border-right:solid windowtext 0.5pt;border-bottom:solid windowtext 0.5pt;border-left:solid windowtext 0.5pt;padding:0pt 5.4pt 0pt 5.4pt;"><p style="margin-left:0pt;margin-right:0pt;margin-top:0pt;margin-bottom:.0001pt;font-size:10.0pt;font-family:&quot;Times New Roman&quot;;text-align:center;">Prosperous Seas<!--Exclude empty div--><!--Exclude empty div--><!--Exclude empty p--></p></td><td style="vertical-align:top;font-family:Georgia;;width:70.9pt;vertical-align:middle;border-top:solid windowtext 0.5pt;border-right:solid windowtext 0.5pt;border-bottom:solid windowtext 0.5pt;border-left:solid windowtext 0.5pt;border-top:solid windowtext 0.5pt;border-right:solid windowtext 0.5pt;border-bottom:solid windowtext 0.5pt;border-left:solid windowtext 0.5pt;padding:0pt 5.4pt 0pt 5.4pt;"><p style="margin-left:0pt;margin-right:0pt;margin-top:0pt;margin-bottom:.0001pt;font-size:10.0pt;font-family:&quot;Times New Roman&quot;;text-align:center;">May 2012<!--Exclude empty div--><!--Exclude empty div--><!--Exclude empty p--></p></td><td style="vertical-align:top;font-family:Georgia;;width:45.45pt;vertical-align:middle;border-top:solid windowtext 0.5pt;border-right:solid windowtext 0.5pt;border-bottom:solid windowtext 0.5pt;border-left:solid windowtext 0.5pt;border-top:solid windowtext 0.5pt;border-right:solid windowtext 0.5pt;border-bottom:solid windowtext 0.5pt;border-left:solid windowtext 0.5pt;padding:0pt 5.4pt 0pt 5.4pt;"><p style="margin-left:0pt;margin-right:0pt;margin-top:0pt;margin-bottom:.0001pt;font-size:10.0pt;font-family:&quot;Times New Roman&quot;;text-align:center;">2012<!--Exclude empty div--><!--Exclude empty div--><!--Exclude empty p--></p></td><td style="vertical-align:top;font-family:Georgia;;width:45.5pt;vertical-align:middle;border-top:solid windowtext 0.5pt;border-right:solid windowtext 0.5pt;border-bottom:solid windowtext 0.5pt;border-left:solid windowtext 0.5pt;border-top:solid windowtext 0.5pt;border-right:solid windowtext 0.5pt;border-bottom:solid windowtext 0.5pt;border-left:solid windowtext 0.5pt;padding:0pt 5.4pt 0pt 5.4pt;"><p style="margin-left:0pt;margin-right:0pt;margin-top:0pt;margin-bottom:.0001pt;font-size:10.0pt;font-family:&quot;Times New Roman&quot;;text-align:right;">37,293<!--Exclude empty div--><!--Exclude empty div--><!--Exclude empty p--></p></td></tr><tr style=";height:0;"><td style="vertical-align:top;font-family:Georgia;;width:95.55pt;vertical-align:middle;border-top:solid windowtext 0.5pt;border-right:solid windowtext 0.5pt;border-bottom:solid windowtext 0.5pt;border-left:solid windowtext 0.5pt;border-top:solid windowtext 0.5pt;border-right:solid windowtext 0.5pt;border-bottom:solid windowtext 0.5pt;border-left:solid windowtext 0.5pt;padding:0pt 5.4pt 0pt 5.4pt;"><p style="margin-left:0pt;margin-right:0pt;margin-top:0pt;margin-bottom:.0001pt;font-size:10.0pt;font-family:&quot;Times New Roman&quot;;">Winselet Shipping &amp; Trading Co.<!--Exclude empty div--><!--Exclude empty p--></p></td><td style="vertical-align:top;font-family:Georgia;;width:96.1pt;vertical-align:middle;border-top:solid windowtext 0.5pt;border-right:solid windowtext 0.5pt;border-bottom:solid windowtext 0.5pt;border-left:solid windowtext 0.5pt;border-top:solid windowtext 0.5pt;border-right:solid windowtext 0.5pt;border-bottom:solid windowtext 0.5pt;border-left:solid windowtext 0.5pt;padding:0pt 5.4pt 0pt 5.4pt;"><p style="margin-left:0pt;margin-right:0pt;margin-top:0pt;margin-bottom:.0001pt;font-size:10.0pt;font-family:&quot;Times New Roman&quot;;text-align:center;">April 6, 2010 <!--Exclude empty div--><!--Exclude empty div--><!--Exclude empty p--></p></td><td style="vertical-align:top;font-family:Georgia;;width:75.7pt;vertical-align:middle;border-top:solid windowtext 0.5pt;border-right:solid windowtext 0.5pt;border-bottom:solid windowtext 0.5pt;border-left:solid windowtext 0.5pt;border-top:solid windowtext 0.5pt;border-right:solid windowtext 0.5pt;border-bottom:solid windowtext 0.5pt;border-left:solid windowtext 0.5pt;padding:0pt 5.4pt 0pt 5.4pt;"><p style="margin-left:0pt;margin-right:0pt;margin-top:0pt;margin-bottom:.0001pt;font-size:10.0pt;font-family:&quot;Times New Roman&quot;;text-align:center;">Liberia<!--Exclude empty div--><!--Exclude empty div--><!--Exclude empty p--></p></td><td style="vertical-align:top;font-family:Georgia;;width:70.85pt;vertical-align:middle;border-top:solid windowtext 0.5pt;border-right:solid windowtext 0.5pt;border-bottom:solid windowtext 0.5pt;border-left:solid windowtext 0.5pt;border-top:solid windowtext 0.5pt;border-right:solid windowtext 0.5pt;border-bottom:solid windowtext 0.5pt;border-left:solid windowtext 0.5pt;padding:0pt 5.4pt 0pt 5.4pt;"><p style="margin-left:0pt;margin-right:0pt;margin-top:0pt;margin-bottom:.0001pt;font-size:10.0pt;font-family:&quot;Times New Roman&quot;;text-align:center;">Precious Seas<!--Exclude empty div--><!--Exclude empty div--><!--Exclude empty p--></p></td><td style="vertical-align:top;font-family:Georgia;;width:70.9pt;vertical-align:middle;border-top:solid windowtext 0.5pt;border-right:solid windowtext 0.5pt;border-bottom:solid windowtext 0.5pt;border-left:solid windowtext 0.5pt;border-top:solid windowtext 0.5pt;border-right:solid windowtext 0.5pt;border-bottom:solid windowtext 0.5pt;border-left:solid windowtext 0.5pt;padding:0pt 5.4pt 0pt 5.4pt;"><p style="margin-left:0pt;margin-right:0pt;margin-top:0pt;margin-bottom:.0001pt;font-size:10.0pt;font-family:&quot;Times New Roman&quot;;text-align:center;">June 2012<!--Exclude empty div--><!--Exclude empty div--><!--Exclude empty p--></p></td><td style="vertical-align:top;font-family:Georgia;;width:45.45pt;vertical-align:middle;border-top:solid windowtext 0.5pt;border-right:solid windowtext 0.5pt;border-bottom:solid windowtext 0.5pt;border-left:solid windowtext 0.5pt;border-top:solid windowtext 0.5pt;border-right:solid windowtext 0.5pt;border-bottom:solid windowtext 0.5pt;border-left:solid windowtext 0.5pt;padding:0pt 5.4pt 0pt 5.4pt;"><p style="margin-left:0pt;margin-right:0pt;margin-top:0pt;margin-bottom:.0001pt;font-size:10.0pt;font-family:&quot;Times New Roman&quot;;text-align:center;">2012<!--Exclude empty div--><!--Exclude empty div--><!--Exclude empty p--></p></td><td style="vertical-align:top;font-family:Georgia;;width:45.5pt;vertical-align:middle;border-top:solid windowtext 0.5pt;border-right:solid windowtext 0.5pt;border-bottom:solid windowtext 0.5pt;border-left:solid windowtext 0.5pt;border-top:solid windowtext 0.5pt;border-right:solid windowtext 0.5pt;border-bottom:solid windowtext 0.5pt;border-left:solid windowtext 0.5pt;padding:0pt 5.4pt 0pt 5.4pt;"><p style="margin-left:0pt;margin-right:0pt;margin-top:0pt;margin-bottom:.0001pt;font-size:10.0pt;font-family:&quot;Times New Roman&quot;;text-align:right;">37,205<!--Exclude empty div--><!--Exclude empty div--><!--Exclude empty p--></p></td></tr><tr style=";height:0;"><td style="vertical-align:top;font-family:Georgia;;width:95.55pt;vertical-align:middle;border-top:solid windowtext 0.5pt;border-right:solid windowtext 0.5pt;border-bottom:solid windowtext 0.5pt;border-left:solid windowtext 0.5pt;border-top:solid windowtext 0.5pt;border-right:solid windowtext 0.5pt;border-bottom:solid windowtext 0.5pt;border-left:solid windowtext 0.5pt;padding:0pt 5.4pt 0pt 5.4pt;"><p style="margin-left:0pt;margin-right:0pt;margin-top:0pt;margin-bottom:.0001pt;font-size:10.0pt;font-family:&quot;Times New Roman&quot;;">Aminta International S.A.<!--Exclude empty div--><!--Exclude empty p--></p></td><td style="vertical-align:top;font-family:Georgia;;width:96.1pt;vertical-align:middle;border-top:solid windowtext 0.5pt;border-right:solid windowtext 0.5pt;border-bottom:solid windowtext 0.5pt;border-left:solid windowtext 0.5pt;border-top:solid windowtext 0.5pt;border-right:solid windowtext 0.5pt;border-bottom:solid windowtext 0.5pt;border-left:solid windowtext 0.5pt;padding:0pt 5.4pt 0pt 5.4pt;"><p style="margin-left:0pt;margin-right:0pt;margin-top:0pt;margin-bottom:.0001pt;font-size:10.0pt;font-family:&quot;Times New Roman&quot;;text-align:center;">May 5, 2010<!--Exclude empty div--><!--Exclude empty div--><!--Exclude empty p--></p></td><td style="vertical-align:top;font-family:Georgia;;width:75.7pt;vertical-align:middle;border-top:solid windowtext 0.5pt;border-right:solid windowtext 0.5pt;border-bottom:solid windowtext 0.5pt;border-left:solid windowtext 0.5pt;border-top:solid windowtext 0.5pt;border-right:solid windowtext 0.5pt;border-bottom:solid windowtext 0.5pt;border-left:solid windowtext 0.5pt;padding:0pt 5.4pt 0pt 5.4pt;"><p style="margin-left:0pt;margin-right:0pt;margin-top:0pt;margin-bottom:.0001pt;font-size:10.0pt;font-family:&quot;Times New Roman&quot;;text-align:center;">Liberia<!--Exclude empty div--><!--Exclude empty div--><!--Exclude empty p--></p></td><td style="vertical-align:top;font-family:Georgia;;width:70.85pt;vertical-align:middle;border-top:solid windowtext 0.5pt;border-right:solid windowtext 0.5pt;border-bottom:solid windowtext 0.5pt;border-left:solid windowtext 0.5pt;border-top:solid windowtext 0.5pt;border-right:solid windowtext 0.5pt;border-bottom:solid windowtext 0.5pt;border-left:solid windowtext 0.5pt;padding:0pt 5.4pt 0pt 5.4pt;"><p style="margin-left:0pt;margin-right:0pt;margin-top:0pt;margin-bottom:.0001pt;font-size:10.0pt;font-family:&quot;Times New Roman&quot;;text-align:center;">Priceless Seas <!--Exclude empty div-->(1)<!--Exclude empty div--><!--Exclude empty div--><!--Exclude empty p--></p></td><td style="vertical-align:top;font-family:Georgia;;width:70.9pt;vertical-align:middle;border-top:solid windowtext 0.5pt;border-right:solid windowtext 0.5pt;border-bottom:solid windowtext 0.5pt;border-left:solid windowtext 0.5pt;border-top:solid windowtext 0.5pt;border-right:solid windowtext 0.5pt;border-bottom:solid windowtext 0.5pt;border-left:solid windowtext 0.5pt;padding:0pt 5.4pt 0pt 5.4pt;"><p style="margin-left:0pt;margin-right:0pt;margin-top:0pt;margin-bottom:.0001pt;font-size:10.0pt;font-family:&quot;Times New Roman&quot;;text-align:center;">January 2013<!--Exclude empty div--><!--Exclude empty div--><!--Exclude empty p--></p></td><td style="vertical-align:top;font-family:Georgia;;width:45.45pt;vertical-align:middle;border-top:solid windowtext 0.5pt;border-right:solid windowtext 0.5pt;border-bottom:solid windowtext 0.5pt;border-left:solid windowtext 0.5pt;border-top:solid windowtext 0.5pt;border-right:solid windowtext 0.5pt;border-bottom:solid windowtext 0.5pt;border-left:solid windowtext 0.5pt;padding:0pt 5.4pt 0pt 5.4pt;"><p style="margin-left:0pt;margin-right:0pt;margin-top:0pt;margin-bottom:.0001pt;font-size:10.0pt;font-family:&quot;Times New Roman&quot;;text-align:center;">2013<!--Exclude empty div--><!--Exclude empty div--><!--Exclude empty p--></p></td><td style="vertical-align:top;font-family:Georgia;;width:45.5pt;vertical-align:middle;border-top:solid windowtext 0.5pt;border-right:solid windowtext 0.5pt;border-bottom:solid windowtext 0.5pt;border-left:solid windowtext 0.5pt;border-top:solid windowtext 0.5pt;border-right:solid windowtext 0.5pt;border-bottom:solid windowtext 0.5pt;border-left:solid windowtext 0.5pt;padding:0pt 5.4pt 0pt 5.4pt;"><p style="margin-left:0pt;margin-right:0pt;margin-top:0pt;margin-bottom:.0001pt;font-size:10.0pt;font-family:&quot;Times New Roman&quot;;text-align:right;">37,202<!--Exclude empty div--><!--Exclude empty div--><!--Exclude empty p--></p></td></tr><tr><td style="margin:0;padding:0;border:none;width:95.55pt;" /><td style="margin:0;padding:0;border:none;width:96.1pt;" /><td style="margin:0;padding:0;border:none;width:75.7pt;" /><td style="margin:0;padding:0;border:none;width:70.85pt;" /><td style="margin:0;padding:0;border:none;width:70.9pt;" /><td style="margin:0;padding:0;border:none;width:45.45pt;" /><td style="margin:0;padding:0;border:none;width:45.5pt;" /></tr></table></div><p style="margin-left:0pt;margin-right:0pt;margin-top:0pt;margin-bottom:.0001pt;font-size:10.0pt;font-family:&quot;Times New Roman&quot;;">&#160;<!--Exclude empty p--></p><p style="margin-left:0pt;margin-right:0pt;margin-top:0pt;margin-bottom:.0001pt;font-size:10.0pt;font-family:&quot;Times New Roman&quot;;text-align:justify;text-justify:inter-ideograph;"><font size="1">(1) Refer to Note 5<!--Exclude empty div--></font><!--Exclude empty div--><!--Exclude empty p--></p><p style="margin-left:0pt;margin-right:0pt;margin-top:0pt;margin-bottom:.0001pt;font-size:10.0pt;font-family:&quot;Times New Roman&quot;;"><br clear="all" style="page-break-before:always" /><!--Exclude empty div--><!--Exclude empty p--></p><p style="margin-left:0pt;margin-right:0pt;margin-top:0pt;margin-bottom:.0001pt;font-size:10.0pt;font-family:&quot;Times New Roman&quot;;">&#160;<!--Exclude empty p--></p><p style="margin-left:0pt;margin-right:0pt;margin-top:0pt;margin-bottom:.0001pt;font-size:10.0pt;font-family:&quot;Times New Roman&quot;;text-align:justify;text-justify:inter-ideograph;"><i>Vessel Under Construction Owning Subsidiaries:<!--Exclude empty div--></i><!--Exclude empty div--><!--Exclude empty p--></p><p style="margin-left:0pt;margin-right:0pt;margin-top:0pt;margin-bottom:.0001pt;font-size:10.0pt;font-family:&quot;Times New Roman&quot;;text-align:justify;text-justify:inter-ideograph;"><!--Exclude empty div-->&#160;<!--Exclude empty p--></p><div align="center"><table cellspacing="0" style="vertical-align:top;font-family:Georgia;;width:502.3pt;border-collapse:collapse;margin-left:-8.8pt;"><tr style=";height:0;"><td style="vertical-align:top;font-family:Georgia;;width:102.6pt;vertical-align:middle;border-top:solid windowtext 0.5pt;border-right:solid windowtext 0.5pt;border-bottom:solid windowtext 0.5pt;border-left:solid windowtext 0.5pt;border-top:solid windowtext 0.5pt;border-right:solid windowtext 0.5pt;border-bottom:solid windowtext 0.5pt;border-left:solid windowtext 0.5pt;padding:0pt 5.4pt 0pt 5.4pt;"><p style="margin-left:0pt;margin-right:0pt;margin-top:0pt;margin-bottom:.0001pt;font-size:10.0pt;font-family:&quot;Times New Roman&quot;;text-align:center;"><b>Vessel Owning Company<!--Exclude empty div--></b><!--Exclude empty div--><!--Exclude empty p--></p></td><td style="vertical-align:top;font-family:Georgia;;width:96.1pt;vertical-align:middle;border-top:solid windowtext 0.5pt;border-right:solid windowtext 0.5pt;border-bottom:solid windowtext 0.5pt;border-left:solid windowtext 0.5pt;border-top:solid windowtext 0.5pt;border-right:solid windowtext 0.5pt;border-bottom:solid windowtext 0.5pt;border-left:solid windowtext 0.5pt;padding:0pt 5.4pt 0pt 5.4pt;"><p style="margin-left:0pt;margin-right:0pt;margin-top:0pt;margin-bottom:.0001pt;font-size:10.0pt;font-family:&quot;Times New Roman&quot;;text-align:center;"><b>Date of<!--Exclude empty div--></b><!--Exclude empty div--><!--Exclude empty p--></p><p style="margin-left:0pt;margin-right:0pt;margin-top:0pt;margin-bottom:.0001pt;font-size:10.0pt;font-family:&quot;Times New Roman&quot;;text-align:center;"><b>Incorporation<!--Exclude empty div--></b><!--Exclude empty div--><!--Exclude empty p--></p></td><td style="vertical-align:top;font-family:Georgia;;width:70.9pt;vertical-align:middle;border-top:solid windowtext 0.5pt;border-right:solid windowtext 0.5pt;border-bottom:solid windowtext 0.5pt;border-left:solid windowtext 0.5pt;border-top:solid windowtext 0.5pt;border-right:solid windowtext 0.5pt;border-bottom:solid windowtext 0.5pt;border-left:solid windowtext 0.5pt;padding:0pt 5.4pt 0pt 5.4pt;"><p style="margin-left:0pt;margin-right:0pt;margin-top:0pt;margin-bottom:.0001pt;font-size:10.0pt;font-family:&quot;Times New Roman&quot;;text-align:center;"><b>Country of<!--Exclude empty div--></b><!--Exclude empty div--><!--Exclude empty p--></p><p style="margin-left:0pt;margin-right:0pt;margin-top:0pt;margin-bottom:.0001pt;font-size:10.0pt;font-family:&quot;Times New Roman&quot;;text-align:center;"><b>Incorporation<!--Exclude empty div--></b><!--Exclude empty div--><!--Exclude empty p--></p></td><td style="vertical-align:top;font-family:Georgia;;width:63.55pt;vertical-align:middle;border-top:solid windowtext 0.5pt;border-right:solid windowtext 0.5pt;border-bottom:solid windowtext 0.5pt;border-left:solid windowtext 0.5pt;border-top:solid windowtext 0.5pt;border-right:solid windowtext 0.5pt;border-bottom:solid windowtext 0.5pt;border-left:solid windowtext 0.5pt;padding:0pt 5.4pt 0pt 5.4pt;"><p style="margin-left:0pt;margin-right:0pt;margin-top:0pt;margin-bottom:.0001pt;font-size:10.0pt;font-family:&quot;Times New Roman&quot;;text-align:center;"><b>Hull<!--Exclude empty div--></b><b>&#160;Number<!--Exclude empty div--></b><!--Exclude empty div--><!--Exclude empty p--></p></td><td style="vertical-align:top;font-family:Georgia;;width:71.1pt;vertical-align:middle;border-top:solid windowtext 0.5pt;border-right:solid windowtext 0.5pt;border-bottom:solid windowtext 0.5pt;border-left:solid windowtext 0.5pt;border-top:solid windowtext 0.5pt;border-right:solid windowtext 0.5pt;border-bottom:solid windowtext 0.5pt;border-left:solid windowtext 0.5pt;padding:0pt 5.4pt 0pt 5.4pt;"><p style="margin-left:0pt;margin-right:0pt;margin-top:0pt;margin-bottom:.0001pt;font-size:10.0pt;font-family:&quot;Times New Roman&quot;;text-align:center;"><b>Type<!--Exclude empty div--></b><!--Exclude empty div--><!--Exclude empty p--></p></td><td style="vertical-align:top;font-family:Georgia;;width:52.55pt;vertical-align:middle;border-top:solid windowtext 0.5pt;border-right:solid windowtext 0.5pt;border-bottom:solid windowtext 0.5pt;border-left:solid windowtext 0.5pt;border-top:solid windowtext 0.5pt;border-right:solid windowtext 0.5pt;border-bottom:solid windowtext 0.5pt;border-left:solid windowtext 0.5pt;padding:0pt 5.4pt 0pt 5.4pt;"><p style="margin-left:0pt;margin-right:0pt;margin-top:0pt;margin-bottom:.0001pt;font-size:10.0pt;font-family:&quot;Times New Roman&quot;;text-align:center;"><b>Expected Delivery<!--Exclude empty div--></b><!--Exclude empty div--><!--Exclude empty p--></p></td><td style="vertical-align:top;font-family:Georgia;;width:45.5pt;vertical-align:middle;border-top:solid windowtext 0.5pt;border-right:solid windowtext 0.5pt;border-bottom:solid windowtext 0.5pt;border-left:solid windowtext 0.5pt;border-top:solid windowtext 0.5pt;border-right:solid windowtext 0.5pt;border-bottom:solid windowtext 0.5pt;border-left:solid windowtext 0.5pt;padding:0pt 5.4pt 0pt 5.4pt;"><p style="margin-left:0pt;margin-right:0pt;margin-top:0pt;margin-bottom:.0001pt;font-size:10.0pt;font-family:&quot;Times New Roman&quot;;text-align:center;"><b>DWT / TEU<!--Exclude empty div--></b><!--Exclude empty div--><!--Exclude empty p--></p></td></tr><tr style=";height:0;"><td style="vertical-align:top;font-family:Georgia;;width:102.6pt;vertical-align:middle;border-top:solid windowtext 0.5pt;border-right:solid windowtext 0.5pt;border-bottom:solid windowtext 0.5pt;border-left:solid windowtext 0.5pt;border-top:solid windowtext 0.5pt;border-right:solid windowtext 0.5pt;border-bottom:solid windowtext 0.5pt;border-left:solid windowtext 0.5pt;padding:0pt 5.4pt 0pt 5.4pt;"><p style="margin-left:0pt;margin-right:0pt;margin-top:0pt;margin-bottom:.0001pt;font-size:10.0pt;font-family:&quot;Times New Roman&quot;;">Irises Shipping<!--Exclude empty div--><!--Exclude empty p--></p><p style="margin-left:0pt;margin-right:0pt;margin-top:0pt;margin-bottom:.0001pt;font-size:10.0pt;font-family:&quot;Times New Roman&quot;;">Ltd.<!--Exclude empty div--><!--Exclude empty p--></p></td><td style="vertical-align:top;font-family:Georgia;;width:96.1pt;vertical-align:middle;border-top:solid windowtext 0.5pt;border-right:solid windowtext 0.5pt;border-bottom:solid windowtext 0.5pt;border-left:solid windowtext 0.5pt;border-top:solid windowtext 0.5pt;border-right:solid windowtext 0.5pt;border-bottom:solid windowtext 0.5pt;border-left:solid windowtext 0.5pt;padding:0pt 5.4pt 0pt 5.4pt;"><p style="margin-left:0pt;margin-right:0pt;margin-top:0pt;margin-bottom:.0001pt;font-size:10.0pt;font-family:&quot;Times New Roman&quot;;text-align:center;">October 6, 2009<!--Exclude empty div--><!--Exclude empty div--><!--Exclude empty p--></p></td><td style="vertical-align:top;font-family:Georgia;;width:70.9pt;vertical-align:middle;border-top:solid windowtext 0.5pt;border-right:solid windowtext 0.5pt;border-bottom:solid windowtext 0.5pt;border-left:solid windowtext 0.5pt;border-top:solid windowtext 0.5pt;border-right:solid windowtext 0.5pt;border-bottom:solid windowtext 0.5pt;border-left:solid windowtext 0.5pt;padding:0pt 5.4pt 0pt 5.4pt;"><p style="margin-left:0pt;margin-right:0pt;margin-top:0pt;margin-bottom:.0001pt;font-size:10.0pt;font-family:&quot;Times New Roman&quot;;text-align:center;">Marshall Islands<!--Exclude empty div--><!--Exclude empty div--><!--Exclude empty p--></p></td><td style="vertical-align:top;font-family:Georgia;;width:63.55pt;vertical-align:middle;border-top:solid windowtext 0.5pt;border-right:solid windowtext 0.5pt;border-bottom:solid windowtext 0.5pt;border-left:solid windowtext 0.5pt;border-top:solid windowtext 0.5pt;border-right:solid windowtext 0.5pt;border-bottom:solid windowtext 0.5pt;border-left:solid windowtext 0.5pt;padding:0pt 5.4pt 0pt 5.4pt;"><p style="margin-left:0pt;margin-right:0pt;margin-top:0pt;margin-bottom:.0001pt;font-size:10.0pt;font-family:&quot;Times New Roman&quot;;text-align:center;">656<!--Exclude empty div--><!--Exclude empty div--><!--Exclude empty p--></p></td><td style="vertical-align:top;font-family:Georgia;;width:71.1pt;vertical-align:middle;border-top:solid windowtext 0.5pt;border-right:solid windowtext 0.5pt;border-bottom:solid windowtext 0.5pt;border-left:solid windowtext 0.5pt;border-top:solid windowtext 0.5pt;border-right:solid windowtext 0.5pt;border-bottom:solid windowtext 0.5pt;border-left:solid windowtext 0.5pt;padding:0pt 5.4pt 0pt 5.4pt;"><p style="margin-left:0pt;margin-right:0pt;margin-top:0pt;margin-bottom:.0001pt;font-size:10.0pt;font-family:&quot;Times New Roman&quot;;text-align:center;">Containership<!--Exclude empty div--><!--Exclude empty div--><!--Exclude empty p--></p></td><td style="vertical-align:top;font-family:Georgia;;width:52.55pt;vertical-align:middle;border-top:solid windowtext 0.5pt;border-right:solid windowtext 0.5pt;border-bottom:solid windowtext 0.5pt;border-left:solid windowtext 0.5pt;border-top:solid windowtext 0.5pt;border-right:solid windowtext 0.5pt;border-bottom:solid windowtext 0.5pt;border-left:solid windowtext 0.5pt;padding:0pt 5.4pt 0pt 5.4pt;"><p style="margin-left:0pt;margin-right:0pt;margin-top:0pt;margin-bottom:.0001pt;font-size:10.0pt;font-family:&quot;Times New Roman&quot;;text-align:center;">2014<!--Exclude empty div--><!--Exclude empty div--><!--Exclude empty p--></p></td><td style="vertical-align:top;font-family:Georgia;;width:45.5pt;vertical-align:middle;border-top:solid windowtext 0.5pt;border-right:solid windowtext 0.5pt;border-bottom:solid windowtext 0.5pt;border-left:solid windowtext 0.5pt;border-top:solid windowtext 0.5pt;border-right:solid windowtext 0.5pt;border-bottom:solid windowtext 0.5pt;border-left:solid windowtext 0.5pt;padding:0pt 5.4pt 0pt 5.4pt;"><p style="margin-left:0pt;margin-right:0pt;margin-top:0pt;margin-bottom:.0001pt;font-size:10.0pt;font-family:&quot;Times New Roman&quot;;text-align:right;">4,800<!--Exclude empty div--><!--Exclude empty div--><!--Exclude empty p--></p><p style="margin-left:0pt;margin-right:0pt;margin-top:0pt;margin-bottom:.0001pt;font-size:10.0pt;font-family:&quot;Times New Roman&quot;;text-align:right;">TEU<!--Exclude empty div--><!--Exclude empty div--><!--Exclude empty p--></p></td></tr><tr style=";height:0;"><td style="vertical-align:top;font-family:Georgia;;width:102.6pt;vertical-align:middle;border-top:solid windowtext 0.5pt;border-right:solid windowtext 0.5pt;border-bottom:solid windowtext 0.5pt;border-left:solid windowtext 0.5pt;border-top:solid windowtext 0.5pt;border-right:solid windowtext 0.5pt;border-bottom:solid windowtext 0.5pt;border-left:solid windowtext 0.5pt;padding:0pt 5.4pt 0pt 5.4pt;"><p style="margin-left:0pt;margin-right:0pt;margin-top:0pt;margin-bottom:.0001pt;font-size:10.0pt;font-family:&quot;Times New Roman&quot;;">Nereus Navigation Ltd.<!--Exclude empty div--><!--Exclude empty p--></p></td><td style="vertical-align:top;font-family:Georgia;;width:96.1pt;vertical-align:middle;border-top:solid windowtext 0.5pt;border-right:solid windowtext 0.5pt;border-bottom:solid windowtext 0.5pt;border-left:solid windowtext 0.5pt;border-top:solid windowtext 0.5pt;border-right:solid windowtext 0.5pt;border-bottom:solid windowtext 0.5pt;border-left:solid windowtext 0.5pt;padding:0pt 5.4pt 0pt 5.4pt;"><p style="margin-left:0pt;margin-right:0pt;margin-top:0pt;margin-bottom:.0001pt;font-size:10.0pt;font-family:&quot;Times New Roman&quot;;text-align:center;">May 4, 2010<!--Exclude empty div--><!--Exclude empty div--><!--Exclude empty p--></p></td><td style="vertical-align:top;font-family:Georgia;;width:70.9pt;vertical-align:middle;border-top:solid windowtext 0.5pt;border-right:solid windowtext 0.5pt;border-bottom:solid windowtext 0.5pt;border-left:solid windowtext 0.5pt;border-top:solid windowtext 0.5pt;border-right:solid windowtext 0.5pt;border-bottom:solid windowtext 0.5pt;border-left:solid windowtext 0.5pt;padding:0pt 5.4pt 0pt 5.4pt;"><p style="margin-left:0pt;margin-right:0pt;margin-top:0pt;margin-bottom:.0001pt;font-size:10.0pt;font-family:&quot;Times New Roman&quot;;text-align:center;">Marshall Islands<!--Exclude empty div--><!--Exclude empty div--><!--Exclude empty p--></p></td><td style="vertical-align:top;font-family:Georgia;;width:63.55pt;vertical-align:middle;border-top:solid windowtext 0.5pt;border-right:solid windowtext 0.5pt;border-bottom:solid windowtext 0.5pt;border-left:solid windowtext 0.5pt;border-top:solid windowtext 0.5pt;border-right:solid windowtext 0.5pt;border-bottom:solid windowtext 0.5pt;border-left:solid windowtext 0.5pt;padding:0pt 5.4pt 0pt 5.4pt;"><p style="margin-left:0pt;margin-right:0pt;margin-top:0pt;margin-bottom:.0001pt;font-size:10.0pt;font-family:&quot;Times New Roman&quot;;text-align:center;">657<!--Exclude empty div--><!--Exclude empty div--><!--Exclude empty p--></p></td><td style="vertical-align:top;font-family:Georgia;;width:71.1pt;vertical-align:middle;border-top:solid windowtext 0.5pt;border-right:solid windowtext 0.5pt;border-bottom:solid windowtext 0.5pt;border-left:solid windowtext 0.5pt;border-top:solid windowtext 0.5pt;border-right:solid windowtext 0.5pt;border-bottom:solid windowtext 0.5pt;border-left:solid windowtext 0.5pt;padding:0pt 5.4pt 0pt 5.4pt;"><p style="margin-left:0pt;margin-right:0pt;margin-top:0pt;margin-bottom:.0001pt;font-size:10.0pt;font-family:&quot;Times New Roman&quot;;text-align:center;">Containership<!--Exclude empty div--><!--Exclude empty div--><!--Exclude empty p--></p></td><td style="vertical-align:top;font-family:Georgia;;width:52.55pt;vertical-align:middle;border-top:solid windowtext 0.5pt;border-right:solid windowtext 0.5pt;border-bottom:solid windowtext 0.5pt;border-left:solid windowtext 0.5pt;border-top:solid windowtext 0.5pt;border-right:solid windowtext 0.5pt;border-bottom:solid windowtext 0.5pt;border-left:solid windowtext 0.5pt;padding:0pt 5.4pt 0pt 5.4pt;"><p style="margin-left:0pt;margin-right:0pt;margin-top:0pt;margin-bottom:.0001pt;font-size:10.0pt;font-family:&quot;Times New Roman&quot;;text-align:center;">2014<!--Exclude empty div--><!--Exclude empty div--><!--Exclude empty p--></p></td><td style="vertical-align:top;font-family:Georgia;;width:45.5pt;vertical-align:middle;border-top:solid windowtext 0.5pt;border-right:solid windowtext 0.5pt;border-bottom:solid windowtext 0.5pt;border-left:solid windowtext 0.5pt;border-top:solid windowtext 0.5pt;border-right:solid windowtext 0.5pt;border-bottom:solid windowtext 0.5pt;border-left:solid windowtext 0.5pt;padding:0pt 5.4pt 0pt 5.4pt;"><p style="margin-left:0pt;margin-right:0pt;margin-top:0pt;margin-bottom:.0001pt;font-size:10.0pt;font-family:&quot;Times New Roman&quot;;text-align:right;">4,800<!--Exclude empty div--><!--Exclude empty div--><!--Exclude empty p--></p><p style="margin-left:0pt;margin-right:0pt;margin-top:0pt;margin-bottom:.0001pt;font-size:10.0pt;font-family:&quot;Times New Roman&quot;;text-align:right;">TEU<!--Exclude empty div--><!--Exclude empty div--><!--Exclude empty p--></p></td></tr><tr style=";height:0;"><td style="vertical-align:top;font-family:Georgia;;width:102.6pt;vertical-align:middle;border-top:solid windowtext 0.5pt;border-right:solid windowtext 0.5pt;border-bottom:solid windowtext 0.5pt;border-left:solid windowtext 0.5pt;border-top:solid windowtext 0.5pt;border-right:solid windowtext 0.5pt;border-bottom:solid windowtext 0.5pt;border-left:solid windowtext 0.5pt;padding:0pt 5.4pt 0pt 5.4pt;"><p style="margin-left:0pt;margin-right:0pt;margin-top:0pt;margin-bottom:.0001pt;font-size:10.0pt;font-family:&quot;Times New Roman&quot;;">Adonia Enterprises S.A.<!--Exclude empty div--><!--Exclude empty p--></p></td><td style="vertical-align:top;font-family:Georgia;;width:96.1pt;vertical-align:middle;border-top:solid windowtext 0.5pt;border-right:solid windowtext 0.5pt;border-bottom:solid windowtext 0.5pt;border-left:solid windowtext 0.5pt;border-top:solid windowtext 0.5pt;border-right:solid windowtext 0.5pt;border-bottom:solid windowtext 0.5pt;border-left:solid windowtext 0.5pt;padding:0pt 5.4pt 0pt 5.4pt;"><p style="margin-left:0pt;margin-right:0pt;margin-top:0pt;margin-bottom:.0001pt;font-size:10.0pt;font-family:&quot;Times New Roman&quot;;text-align:center;">May 5, 2010<!--Exclude empty div--><!--Exclude empty div--><!--Exclude empty p--></p></td><td style="vertical-align:top;font-family:Georgia;;width:70.9pt;vertical-align:middle;border-top:solid windowtext 0.5pt;border-right:solid windowtext 0.5pt;border-bottom:solid windowtext 0.5pt;border-left:solid windowtext 0.5pt;border-top:solid windowtext 0.5pt;border-right:solid windowtext 0.5pt;border-bottom:solid windowtext 0.5pt;border-left:solid windowtext 0.5pt;padding:0pt 5.4pt 0pt 5.4pt;"><p style="margin-left:0pt;margin-right:0pt;margin-top:0pt;margin-bottom:.0001pt;font-size:10.0pt;font-family:&quot;Times New Roman&quot;;text-align:center;">Liberia<!--Exclude empty div--><!--Exclude empty div--><!--Exclude empty p--></p></td><td style="vertical-align:top;font-family:Georgia;;width:63.55pt;vertical-align:middle;border-top:solid windowtext 0.5pt;border-right:solid windowtext 0.5pt;border-bottom:solid windowtext 0.5pt;border-left:solid windowtext 0.5pt;border-top:solid windowtext 0.5pt;border-right:solid windowtext 0.5pt;border-bottom:solid windowtext 0.5pt;border-left:solid windowtext 0.5pt;padding:0pt 5.4pt 0pt 5.4pt;"><p style="margin-left:0pt;margin-right:0pt;margin-top:0pt;margin-bottom:.0001pt;font-size:10.0pt;font-family:&quot;Times New Roman&quot;;text-align:center;">625<!--Exclude empty div--><!--Exclude empty div--><!--Exclude empty p--></p></td><td style="vertical-align:top;font-family:Georgia;;width:71.1pt;vertical-align:middle;border-top:solid windowtext 0.5pt;border-right:solid windowtext 0.5pt;border-bottom:solid windowtext 0.5pt;border-left:solid windowtext 0.5pt;border-top:solid windowtext 0.5pt;border-right:solid windowtext 0.5pt;border-bottom:solid windowtext 0.5pt;border-left:solid windowtext 0.5pt;padding:0pt 5.4pt 0pt 5.4pt;"><p style="margin-left:0pt;margin-right:0pt;margin-top:0pt;margin-bottom:.0001pt;font-size:10.0pt;font-family:&quot;Times New Roman&quot;;text-align:center;">Drybulk Carrier<!--Exclude empty div--><!--Exclude empty div--><!--Exclude empty p--></p></td><td style="vertical-align:top;font-family:Georgia;;width:52.55pt;vertical-align:middle;border-top:solid windowtext 0.5pt;border-right:solid windowtext 0.5pt;border-bottom:solid windowtext 0.5pt;border-left:solid windowtext 0.5pt;border-top:solid windowtext 0.5pt;border-right:solid windowtext 0.5pt;border-bottom:solid windowtext 0.5pt;border-left:solid windowtext 0.5pt;padding:0pt 5.4pt 0pt 5.4pt;"><p style="margin-left:0pt;margin-right:0pt;margin-top:0pt;margin-bottom:.0001pt;font-size:10.0pt;font-family:&quot;Times New Roman&quot;;text-align:center;">2013<!--Exclude empty div--><!--Exclude empty div--><!--Exclude empty p--></p></td><td style="vertical-align:top;font-family:Georgia;;width:45.5pt;vertical-align:middle;border-top:solid windowtext 0.5pt;border-right:solid windowtext 0.5pt;border-bottom:solid windowtext 0.5pt;border-left:solid windowtext 0.5pt;border-top:solid windowtext 0.5pt;border-right:solid windowtext 0.5pt;border-bottom:solid windowtext 0.5pt;border-left:solid windowtext 0.5pt;padding:0pt 5.4pt 0pt 5.4pt;"><p style="margin-left:0pt;margin-right:0pt;margin-top:0pt;margin-bottom:.0001pt;font-size:10.0pt;font-family:&quot;Times New Roman&quot;;text-align:right;">37,200<!--Exclude empty div--><!--Exclude empty div--><!--Exclude empty p--></p><p style="margin-left:0pt;margin-right:0pt;margin-top:0pt;margin-bottom:.0001pt;font-size:10.0pt;font-family:&quot;Times New Roman&quot;;text-align:right;">Dwt<!--Exclude empty div--><!--Exclude empty div--><!--Exclude empty p--></p></td></tr><tr><td style="margin:0;padding:0;border:none;width:102.6pt;" /><td style="margin:0;padding:0;border:none;width:96.1pt;" /><td style="margin:0;padding:0;border:none;width:70.9pt;" /><td style="margin:0;padding:0;border:none;width:63.55pt;" /><td style="margin:0;padding:0;border:none;width:71.1pt;" /><td style="margin:0;padding:0;border:none;width:52.55pt;" /><td style="margin:0;padding:0;border:none;width:45.5pt;" /></tr></table></div><p style="margin-left:0pt;margin-right:0pt;margin-top:0pt;margin-bottom:.0001pt;font-size:10.0pt;font-family:&quot;Times New Roman&quot;;text-align:justify;text-justify:inter-ideograph;"><!--Exclude empty div-->&#160;<!--Exclude empty p--></p><p style="margin-left:0pt;margin-right:0pt;margin-top:0pt;margin-bottom:.0001pt;font-size:10.0pt;font-family:&quot;Times New Roman&quot;;text-align:justify;text-justify:inter-ideograph;"><i><font color="#000000">Non-Vessel Owning Subsidiaries:<!--Exclude empty div--></font></i><!--Exclude empty div--><!--Exclude empty p--></p><p style="margin-left:0pt;margin-right:0pt;margin-top:0pt;margin-bottom:.0001pt;font-size:10.0pt;font-family:&quot;Times New Roman&quot;;text-align:justify;text-justify:inter-ideograph;"><!--Exclude empty div-->&#160;<!--Exclude empty p--></p><div align="center"><table cellspacing="0" style="vertical-align:top;font-family:Georgia;;width:503.25pt;border-collapse:collapse;margin-left:-8.8pt;"><tr style=";height:0;"><td style="vertical-align:top;font-family:Georgia;;width:167.75pt;vertical-align:middle;border-top:solid windowtext 0.5pt;border-right:solid windowtext 0.5pt;border-bottom:solid windowtext 0.5pt;border-left:solid windowtext 0.5pt;border-top:solid windowtext 0.5pt;border-right:solid windowtext 0.5pt;border-bottom:solid windowtext 0.5pt;border-left:solid windowtext 0.5pt;padding:0pt 5.4pt 0pt 5.4pt;"><p style="margin-left:0pt;margin-right:0pt;margin-top:0pt;margin-bottom:.0001pt;font-size:10.0pt;font-family:&quot;Times New Roman&quot;;text-align:center;"><b>Non-Vessel Owning Company<!--Exclude empty div--></b><!--Exclude empty div--><!--Exclude empty p--></p></td><td style="vertical-align:top;font-family:Georgia;;width:167.75pt;vertical-align:middle;border-top:solid windowtext 0.5pt;border-right:solid windowtext 0.5pt;border-bottom:solid windowtext 0.5pt;border-left:solid windowtext 0.5pt;border-top:solid windowtext 0.5pt;border-right:solid windowtext 0.5pt;border-bottom:solid windowtext 0.5pt;border-left:solid windowtext 0.5pt;padding:0pt 5.4pt 0pt 5.4pt;"><p style="margin-left:0pt;margin-right:0pt;margin-top:0pt;margin-bottom:.0001pt;font-size:10.0pt;font-family:&quot;Times New Roman&quot;;text-align:center;"><b>Date of Incorporation<!--Exclude empty div--></b><!--Exclude empty div--><!--Exclude empty p--></p></td><td style="vertical-align:top;font-family:Georgia;;width:167.75pt;vertical-align:middle;border-top:solid windowtext 0.5pt;border-right:solid windowtext 0.5pt;border-bottom:solid windowtext 0.5pt;border-left:solid windowtext 0.5pt;border-top:solid windowtext 0.5pt;border-right:solid windowtext 0.5pt;border-bottom:solid windowtext 0.5pt;border-left:solid windowtext 0.5pt;padding:0pt 5.4pt 0pt 5.4pt;"><p style="margin-left:0pt;margin-right:0pt;margin-top:0pt;margin-bottom:.0001pt;font-size:10.0pt;font-family:&quot;Times New Roman&quot;;text-align:center;"><b>Country of Incorporation<!--Exclude empty div--></b><!--Exclude empty div--><!--Exclude empty p--></p></td></tr><tr style=";height:0;"><td style="vertical-align:top;font-family:Georgia;;width:167.75pt;border-top:solid windowtext 0.5pt;border-right:solid windowtext 0.5pt;border-bottom:solid windowtext 0.5pt;border-left:solid windowtext 0.5pt;border-top:solid windowtext 0.5pt;border-right:solid windowtext 0.5pt;border-bottom:solid windowtext 0.5pt;border-left:solid windowtext 0.5pt;padding:0pt 5.4pt 0pt 5.4pt;"><p style="margin-left:0pt;margin-right:0pt;margin-top:0pt;margin-bottom:.0001pt;font-size:10.0pt;font-family:&quot;Times New Roman&quot;;">Camelia Navigation S.A.<!--Exclude empty div--><!--Exclude empty p--></p></td><td style="vertical-align:top;font-family:Georgia;;width:167.75pt;vertical-align:middle;border-top:solid windowtext 0.5pt;border-right:solid windowtext 0.5pt;border-bottom:solid windowtext 0.5pt;border-left:solid windowtext 0.5pt;border-top:solid windowtext 0.5pt;border-right:solid windowtext 0.5pt;border-bottom:solid windowtext 0.5pt;border-left:solid windowtext 0.5pt;padding:0pt 5.4pt 0pt 5.4pt;"><p style="margin-left:0pt;margin-right:0pt;margin-top:0pt;margin-bottom:.0001pt;font-size:10.0pt;font-family:&quot;Times New Roman&quot;;text-align:center;">November 15, 2006<!--Exclude empty div--><!--Exclude empty div--><!--Exclude empty p--></p></td><td style="vertical-align:top;font-family:Georgia;;width:167.75pt;vertical-align:middle;border-top:solid windowtext 0.5pt;border-right:solid windowtext 0.5pt;border-bottom:solid windowtext 0.5pt;border-left:solid windowtext 0.5pt;border-top:solid windowtext 0.5pt;border-right:solid windowtext 0.5pt;border-bottom:solid windowtext 0.5pt;border-left:solid windowtext 0.5pt;padding:0pt 5.4pt 0pt 5.4pt;"><p style="margin-left:0pt;margin-right:0pt;margin-top:0pt;margin-bottom:.0001pt;font-size:10.0pt;font-family:&quot;Times New Roman&quot;;text-align:center;">Marshall Islands<!--Exclude empty div--><!--Exclude empty div--><!--Exclude empty p--></p></td></tr><tr style=";height:0;"><td style="vertical-align:top;font-family:Georgia;;width:167.75pt;border-top:solid windowtext 0.5pt;border-right:solid windowtext 0.5pt;border-bottom:solid windowtext 0.5pt;border-left:solid windowtext 0.5pt;border-top:solid windowtext 0.5pt;border-right:solid windowtext 0.5pt;border-bottom:solid windowtext 0.5pt;border-left:solid windowtext 0.5pt;padding:0pt 5.4pt 0pt 5.4pt;"><p style="margin-left:0pt;margin-right:0pt;margin-top:0pt;margin-bottom:.0001pt;font-size:10.0pt;font-family:&quot;Times New Roman&quot;;">Explorer Shipholding Limited<!--Exclude empty div--><!--Exclude empty p--></p></td><td style="vertical-align:top;font-family:Georgia;;width:167.75pt;vertical-align:middle;border-top:solid windowtext 0.5pt;border-right:solid windowtext 0.5pt;border-bottom:solid windowtext 0.5pt;border-left:solid windowtext 0.5pt;border-top:solid windowtext 0.5pt;border-right:solid windowtext 0.5pt;border-bottom:solid windowtext 0.5pt;border-left:solid windowtext 0.5pt;padding:0pt 5.4pt 0pt 5.4pt;"><p style="margin-left:0pt;margin-right:0pt;margin-top:0pt;margin-bottom:.0001pt;font-size:10.0pt;font-family:&quot;Times New Roman&quot;;text-align:center;">November 15, 2006<!--Exclude empty div--><!--Exclude empty div--><!--Exclude empty p--></p></td><td style="vertical-align:top;font-family:Georgia;;width:167.75pt;vertical-align:middle;border-top:solid windowtext 0.5pt;border-right:solid windowtext 0.5pt;border-bottom:solid windowtext 0.5pt;border-left:solid windowtext 0.5pt;border-top:solid windowtext 0.5pt;border-right:solid windowtext 0.5pt;border-bottom:solid windowtext 0.5pt;border-left:solid windowtext 0.5pt;padding:0pt 5.4pt 0pt 5.4pt;"><p style="margin-left:0pt;margin-right:0pt;margin-top:0pt;margin-bottom:.0001pt;font-size:10.0pt;font-family:&quot;Times New Roman&quot;;text-align:center;">Marshall Islands<!--Exclude empty div--><!--Exclude empty div--><!--Exclude empty p--></p></td></tr><tr style=";height:0;"><td style="vertical-align:top;font-family:Georgia;;width:167.75pt;border-top:solid windowtext 0.5pt;border-right:solid windowtext 0.5pt;border-bottom:solid windowtext 0.5pt;border-left:solid windowtext 0.5pt;border-top:solid windowtext 0.5pt;border-right:solid windowtext 0.5pt;border-bottom:solid windowtext 0.5pt;border-left:solid windowtext 0.5pt;padding:0pt 5.4pt 0pt 5.4pt;"><p style="margin-left:0pt;margin-right:0pt;margin-top:0pt;margin-bottom:.0001pt;font-size:10.0pt;font-family:&quot;Times New Roman&quot;;">Epic Investments Inc.<!--Exclude empty div--><!--Exclude empty p--></p></td><td style="vertical-align:top;font-family:Georgia;;width:167.75pt;vertical-align:middle;border-top:solid windowtext 0.5pt;border-right:solid windowtext 0.5pt;border-bottom:solid windowtext 0.5pt;border-left:solid windowtext 0.5pt;border-top:solid windowtext 0.5pt;border-right:solid windowtext 0.5pt;border-bottom:solid windowtext 0.5pt;border-left:solid windowtext 0.5pt;padding:0pt 5.4pt 0pt 5.4pt;"><p style="margin-left:0pt;margin-right:0pt;margin-top:0pt;margin-bottom:.0001pt;font-size:10.0pt;font-family:&quot;Times New Roman&quot;;text-align:center;">December 21, 2006<!--Exclude empty div--><!--Exclude empty div--><!--Exclude empty p--></p></td><td style="vertical-align:top;font-family:Georgia;;width:167.75pt;vertical-align:middle;border-top:solid windowtext 0.5pt;border-right:solid windowtext 0.5pt;border-bottom:solid windowtext 0.5pt;border-left:solid windowtext 0.5pt;border-top:solid windowtext 0.5pt;border-right:solid windowtext 0.5pt;border-bottom:solid windowtext 0.5pt;border-left:solid windowtext 0.5pt;padding:0pt 5.4pt 0pt 5.4pt;"><p style="margin-left:0pt;margin-right:0pt;margin-top:0pt;margin-bottom:.0001pt;font-size:10.0pt;font-family:&quot;Times New Roman&quot;;text-align:center;">Marshall Islands<!--Exclude empty div--><!--Exclude empty div--><!--Exclude empty p--></p></td></tr><tr style=";height:0;"><td style="vertical-align:top;font-family:Georgia;;width:167.75pt;border-top:solid windowtext 0.5pt;border-right:solid windowtext 0.5pt;border-bottom:solid windowtext 0.5pt;border-left:solid windowtext 0.5pt;border-top:solid windowtext 0.5pt;border-right:solid windowtext 0.5pt;border-bottom:solid windowtext 0.5pt;border-left:solid windowtext 0.5pt;padding:0pt 5.4pt 0pt 5.4pt;"><p style="margin-left:0pt;margin-right:0pt;margin-top:0pt;margin-bottom:.0001pt;font-size:10.0pt;font-family:&quot;Times New Roman&quot;;">Opera Navigation Co.<!--Exclude empty div--><!--Exclude empty p--></p></td><td style="vertical-align:top;font-family:Georgia;;width:167.75pt;vertical-align:middle;border-top:solid windowtext 0.5pt;border-right:solid windowtext 0.5pt;border-bottom:solid windowtext 0.5pt;border-left:solid windowtext 0.5pt;border-top:solid windowtext 0.5pt;border-right:solid windowtext 0.5pt;border-bottom:solid windowtext 0.5pt;border-left:solid windowtext 0.5pt;padding:0pt 5.4pt 0pt 5.4pt;"><p style="margin-left:0pt;margin-right:0pt;margin-top:0pt;margin-bottom:.0001pt;font-size:10.0pt;font-family:&quot;Times New Roman&quot;;text-align:center;">December 21, 2006<!--Exclude empty div--><!--Exclude empty div--><!--Exclude empty p--></p></td><td style="vertical-align:top;font-family:Georgia;;width:167.75pt;vertical-align:middle;border-top:solid windowtext 0.5pt;border-right:solid windowtext 0.5pt;border-bottom:solid windowtext 0.5pt;border-left:solid windowtext 0.5pt;border-top:solid windowtext 0.5pt;border-right:solid windowtext 0.5pt;border-bottom:solid windowtext 0.5pt;border-left:solid windowtext 0.5pt;padding:0pt 5.4pt 0pt 5.4pt;"><p style="margin-left:0pt;margin-right:0pt;margin-top:0pt;margin-bottom:.0001pt;font-size:10.0pt;font-family:&quot;Times New Roman&quot;;text-align:center;">Marshall Islands<!--Exclude empty div--><!--Exclude empty div--><!--Exclude empty p--></p></td></tr><tr style=";height:0;"><td style="vertical-align:top;font-family:Georgia;;width:167.75pt;border-top:solid windowtext 0.5pt;border-right:solid windowtext 0.5pt;border-bottom:solid windowtext 0.5pt;border-left:solid windowtext 0.5pt;border-top:solid windowtext 0.5pt;border-right:solid windowtext 0.5pt;border-bottom:solid windowtext 0.5pt;border-left:solid windowtext 0.5pt;padding:0pt 5.4pt 0pt 5.4pt;"><p style="margin-left:0pt;margin-right:0pt;margin-top:0pt;margin-bottom:.0001pt;font-size:10.0pt;font-family:&quot;Times New Roman&quot;;">Ovation Services Inc.<!--Exclude empty div--><!--Exclude empty p--></p></td><td style="vertical-align:top;font-family:Georgia;;width:167.75pt;vertical-align:middle;border-top:solid windowtext 0.5pt;border-right:solid windowtext 0.5pt;border-bottom:solid windowtext 0.5pt;border-left:solid windowtext 0.5pt;border-top:solid windowtext 0.5pt;border-right:solid windowtext 0.5pt;border-bottom:solid windowtext 0.5pt;border-left:solid windowtext 0.5pt;padding:0pt 5.4pt 0pt 5.4pt;"><p style="margin-left:0pt;margin-right:0pt;margin-top:0pt;margin-bottom:.0001pt;font-size:10.0pt;font-family:&quot;Times New Roman&quot;;text-align:center;">September 16, 2009<!--Exclude empty div--><!--Exclude empty div--><!--Exclude empty p--></p></td><td style="vertical-align:top;font-family:Georgia;;width:167.75pt;vertical-align:middle;border-top:solid windowtext 0.5pt;border-right:solid windowtext 0.5pt;border-bottom:solid windowtext 0.5pt;border-left:solid windowtext 0.5pt;border-top:solid windowtext 0.5pt;border-right:solid windowtext 0.5pt;border-bottom:solid windowtext 0.5pt;border-left:solid windowtext 0.5pt;padding:0pt 5.4pt 0pt 5.4pt;"><p style="margin-left:0pt;margin-right:0pt;margin-top:0pt;margin-bottom:.0001pt;font-size:10.0pt;font-family:&quot;Times New Roman&quot;;text-align:center;">Marshall Islands<!--Exclude empty div--><!--Exclude empty div--><!--Exclude empty p--></p></td></tr><tr style=";height:0;"><td style="vertical-align:top;font-family:Georgia;;width:167.75pt;border-top:solid windowtext 0.5pt;border-right:solid windowtext 0.5pt;border-bottom:solid windowtext 0.5pt;border-left:solid windowtext 0.5pt;border-top:solid windowtext 0.5pt;border-right:solid windowtext 0.5pt;border-bottom:solid windowtext 0.5pt;border-left:solid windowtext 0.5pt;padding:0pt 5.4pt 0pt 5.4pt;"><p style="margin-left:0pt;margin-right:0pt;margin-top:0pt;margin-bottom:.0001pt;font-size:10.0pt;font-family:&quot;Times New Roman&quot;;">Letitia Shipping Limited<!--Exclude empty div--><!--Exclude empty p--></p></td><td style="vertical-align:top;font-family:Georgia;;width:167.75pt;vertical-align:middle;border-top:solid windowtext 0.5pt;border-right:solid windowtext 0.5pt;border-bottom:solid windowtext 0.5pt;border-left:solid windowtext 0.5pt;border-top:solid windowtext 0.5pt;border-right:solid windowtext 0.5pt;border-bottom:solid windowtext 0.5pt;border-left:solid windowtext 0.5pt;padding:0pt 5.4pt 0pt 5.4pt;"><p style="margin-left:0pt;margin-right:0pt;margin-top:0pt;margin-bottom:.0001pt;font-size:10.0pt;font-family:&quot;Times New Roman&quot;;text-align:center;">May 4, 2010<!--Exclude empty div--><!--Exclude empty div--><!--Exclude empty p--></p></td><td style="vertical-align:top;font-family:Georgia;;width:167.75pt;vertical-align:middle;border-top:solid windowtext 0.5pt;border-right:solid windowtext 0.5pt;border-bottom:solid windowtext 0.5pt;border-left:solid windowtext 0.5pt;border-top:solid windowtext 0.5pt;border-right:solid windowtext 0.5pt;border-bottom:solid windowtext 0.5pt;border-left:solid windowtext 0.5pt;padding:0pt 5.4pt 0pt 5.4pt;"><p style="margin-left:0pt;margin-right:0pt;margin-top:0pt;margin-bottom:.0001pt;font-size:10.0pt;font-family:&quot;Times New Roman&quot;;text-align:center;">Marshall Islands<!--Exclude empty div--><!--Exclude empty div--><!--Exclude empty p--></p></td></tr><tr style=";height:0;"><td style="vertical-align:top;font-family:Georgia;;width:167.75pt;border-top:solid windowtext 0.5pt;border-right:solid windowtext 0.5pt;border-bottom:solid windowtext 0.5pt;border-left:solid windowtext 0.5pt;border-top:solid windowtext 0.5pt;border-right:solid windowtext 0.5pt;border-bottom:solid windowtext 0.5pt;border-left:solid windowtext 0.5pt;padding:0pt 5.4pt 0pt 5.4pt;"><p style="margin-left:0pt;margin-right:0pt;margin-top:0pt;margin-bottom:.0001pt;font-size:10.0pt;font-family:&quot;Times New Roman&quot;;">Ardelia Navigation Ltd.<!--Exclude empty div--><!--Exclude empty p--></p></td><td style="vertical-align:top;font-family:Georgia;;width:167.75pt;vertical-align:middle;border-top:solid windowtext 0.5pt;border-right:solid windowtext 0.5pt;border-bottom:solid windowtext 0.5pt;border-left:solid windowtext 0.5pt;border-top:solid windowtext 0.5pt;border-right:solid windowtext 0.5pt;border-bottom:solid windowtext 0.5pt;border-left:solid windowtext 0.5pt;padding:0pt 5.4pt 0pt 5.4pt;"><p style="margin-left:0pt;margin-right:0pt;margin-top:0pt;margin-bottom:.0001pt;font-size:10.0pt;font-family:&quot;Times New Roman&quot;;text-align:center;">June 15, 2010<!--Exclude empty div--><!--Exclude empty div--><!--Exclude empty p--></p></td><td style="vertical-align:top;font-family:Georgia;;width:167.75pt;vertical-align:middle;border-top:solid windowtext 0.5pt;border-right:solid windowtext 0.5pt;border-bottom:solid windowtext 0.5pt;border-left:solid windowtext 0.5pt;border-top:solid windowtext 0.5pt;border-right:solid windowtext 0.5pt;border-bottom:solid windowtext 0.5pt;border-left:solid windowtext 0.5pt;padding:0pt 5.4pt 0pt 5.4pt;"><p style="margin-left:0pt;margin-right:0pt;margin-top:0pt;margin-bottom:.0001pt;font-size:10.0pt;font-family:&quot;Times New Roman&quot;;text-align:center;">Liberia<!--Exclude empty div--><!--Exclude empty div--><!--Exclude empty p--></p></td></tr><tr style=";height:0;"><td style="vertical-align:top;font-family:Georgia;;width:167.75pt;border-top:solid windowtext 0.5pt;border-right:solid windowtext 0.5pt;border-bottom:solid windowtext 0.5pt;border-left:solid windowtext 0.5pt;border-top:solid windowtext 0.5pt;border-right:solid windowtext 0.5pt;border-bottom:solid windowtext 0.5pt;border-left:solid windowtext 0.5pt;padding:0pt 5.4pt 0pt 5.4pt;"><p style="margin-left:0pt;margin-right:0pt;margin-top:0pt;margin-bottom:.0001pt;font-size:10.0pt;font-family:&quot;Times New Roman&quot;;">Eridanus Trading Co.<!--Exclude empty div--><!--Exclude empty p--></p></td><td style="vertical-align:top;font-family:Georgia;;width:167.75pt;vertical-align:middle;border-top:solid windowtext 0.5pt;border-right:solid windowtext 0.5pt;border-bottom:solid windowtext 0.5pt;border-left:solid windowtext 0.5pt;border-top:solid windowtext 0.5pt;border-right:solid windowtext 0.5pt;border-bottom:solid windowtext 0.5pt;border-left:solid windowtext 0.5pt;padding:0pt 5.4pt 0pt 5.4pt;"><p style="margin-left:0pt;margin-right:0pt;margin-top:0pt;margin-bottom:.0001pt;font-size:10.0pt;font-family:&quot;Times New Roman&quot;;text-align:center;">July 1, 2010<!--Exclude empty div--><!--Exclude empty div--><!--Exclude empty p--></p></td><td style="vertical-align:top;font-family:Georgia;;width:167.75pt;vertical-align:middle;border-top:solid windowtext 0.5pt;border-right:solid windowtext 0.5pt;border-bottom:solid windowtext 0.5pt;border-left:solid windowtext 0.5pt;border-top:solid windowtext 0.5pt;border-right:solid windowtext 0.5pt;border-bottom:solid windowtext 0.5pt;border-left:solid windowtext 0.5pt;padding:0pt 5.4pt 0pt 5.4pt;"><p style="margin-left:0pt;margin-right:0pt;margin-top:0pt;margin-bottom:.0001pt;font-size:10.0pt;font-family:&quot;Times New Roman&quot;;text-align:center;">Liberia<!--Exclude empty div--><!--Exclude empty div--><!--Exclude empty p--></p></td></tr><tr style=";height:0;"><td style="vertical-align:top;font-family:Georgia;;width:167.75pt;border-top:solid windowtext 0.5pt;border-right:solid windowtext 0.5pt;border-bottom:solid windowtext 0.5pt;border-left:solid windowtext 0.5pt;border-top:solid windowtext 0.5pt;border-right:solid windowtext 0.5pt;border-bottom:solid windowtext 0.5pt;border-left:solid windowtext 0.5pt;padding:0pt 5.4pt 0pt 5.4pt;"><p style="margin-left:0pt;margin-right:0pt;margin-top:0pt;margin-bottom:.0001pt;font-size:10.0pt;font-family:&quot;Times New Roman&quot;;">Delphis Shipping S.A.<!--Exclude empty div--><!--Exclude empty p--></p></td><td style="vertical-align:top;font-family:Georgia;;width:167.75pt;vertical-align:middle;border-top:solid windowtext 0.5pt;border-right:solid windowtext 0.5pt;border-bottom:solid windowtext 0.5pt;border-left:solid windowtext 0.5pt;border-top:solid windowtext 0.5pt;border-right:solid windowtext 0.5pt;border-bottom:solid windowtext 0.5pt;border-left:solid windowtext 0.5pt;padding:0pt 5.4pt 0pt 5.4pt;"><p style="margin-left:0pt;margin-right:0pt;margin-top:0pt;margin-bottom:.0001pt;font-size:10.0pt;font-family:&quot;Times New Roman&quot;;text-align:center;">February 7, 2011<!--Exclude empty div--><!--Exclude empty div--><!--Exclude empty p--></p></td><td style="vertical-align:top;font-family:Georgia;;width:167.75pt;vertical-align:middle;border-top:solid windowtext 0.5pt;border-right:solid windowtext 0.5pt;border-bottom:solid windowtext 0.5pt;border-left:solid windowtext 0.5pt;border-top:solid windowtext 0.5pt;border-right:solid windowtext 0.5pt;border-bottom:solid windowtext 0.5pt;border-left:solid windowtext 0.5pt;padding:0pt 5.4pt 0pt 5.4pt;"><p style="margin-left:0pt;margin-right:0pt;margin-top:0pt;margin-bottom:.0001pt;font-size:10.0pt;font-family:&quot;Times New Roman&quot;;text-align:center;">Liberia<!--Exclude empty div--><!--Exclude empty div--><!--Exclude empty p--></p></td></tr><tr><td style="margin:0;padding:0;border:none;width:167.75pt;" /><td style="margin:0;padding:0;border:none;width:167.75pt;" /><td style="margin:0;padding:0;border:none;width:167.75pt;" /></tr></table></div><p style="margin-left:0pt;margin-right:0pt;margin-top:0pt;margin-bottom:.0001pt;font-size:10.0pt;font-family:&quot;Times New Roman&quot;;text-align:justify;text-justify:inter-ideograph;"><!--Exclude empty div-->&#160;<!--Exclude empty p--></p><p style="margin-left:0pt;margin-right:0pt;margin-top:0pt;margin-bottom:.0001pt;font-size:10.0pt;font-family:&quot;Times New Roman&quot;;">Effective November 5, 2012, the Company effectuated a 10-for-1 reverse stock split on its issued and outstanding common stock (refer to Note 12<!--Exclude empty div--><font color="#000000">&#160;of the Company&#8217;s consolidated financial statements <!--Exclude empty div--></font>for the year ended December 31, 2012<!--Exclude empty div--><font color="#000000">&#160;included in <!--Exclude empty div--></font>the Company&#8217;s Annual Report<!--Exclude empty div-->&#160;on Form 20-F filed with the Securities and Exchange Commission on April 3, 2013,<!--Exclude empty div-->&#160;as amended on April 18, 2013, <!--Exclude empty div-->or &#8220;Annual Report&#8221;). All share and per share amounts disclosed in the accompanying unaudited interim condensed consolidated&#160;financial statements give effect to the respective stock split retroactively, for all the periods presented.<!--Exclude empty div--><!--Exclude empty p--></p><p style="margin-left:0pt;margin-right:0pt;margin-top:0pt;margin-bottom:.0001pt;font-size:10.0pt;font-family:&quot;Times New Roman&quot;;text-align:justify;text-justify:inter-ideograph;"><!--Exclude empty div-->&#160;<!--Exclude empty p--></p><p style="margin-left:0pt;margin-right:0pt;margin-top:0pt;margin-bottom:.0001pt;font-size:10.0pt;font-family:&quot;Times New Roman&quot;;text-align:justify;text-justify:inter-ideograph;">The accompanying unaudited interim condensed consolidated&#160;financial statements have been prepared in accordance with <!--Exclude empty div-->U.S. generally accepted accounting principles <!--Exclude empty div-->(&#8220;U.S. GAAP&#8221;) for interim financial information. Accordingly, they do not include all of the information and footnotes required by U.S. GAAP for complete financial statements. In the opinion of the management of the Company, all adjustments (consisting of normal recurring adjustments) necessary for a fair presentation of financial position, operating results and cash flows have been included in the accompanying unaudited interim condensed consolidated&#160;financial statements. Interim results are not necessarily indicative of results that may be expected for the year ending December&#160;31, 2013. These financial statements should be read in conjunction with the consolidated financial statements and footnotes for the year ended December 31, 2012 included in the Company&#8217;s&#160;Annual Report.<!--Exclude empty div--><!--Exclude empty div--><!--Exclude empty p--></p><p style="margin-left:0pt;margin-right:0pt;margin-top:0pt;margin-bottom:.0001pt;font-size:10.0pt;font-family:&quot;Times New Roman&quot;;text-align:justify;text-justify:inter-ideograph;"><!--Exclude empty div-->&#160;<!--Exclude empty p--></p><p style="margin-left:0pt;margin-right:0pt;margin-top:0pt;margin-bottom:.0001pt;font-size:10.0pt;font-family:&quot;Times New Roman&quot;;text-align:justify;text-justify:inter-ideograph;">The Company outsources the technical and commercial management of its vessels to Allseas Marine S.A. (&#8220;Allseas&#8221;), a related party wholly owned by Mr. Michael Bodouroglou, the Company&#8217;s Chairman, President and Chief Executive Officer (refer to Note 4).<!--Exclude empty div--><!--Exclude empty div--><!--Exclude empty p--></p><p style="margin-left:0pt;margin-right:0pt;margin-top:0pt;margin-bottom:.0001pt;font-size:10.0pt;font-family:&quot;Times New Roman&quot;;text-align:justify;text-justify:inter-ideograph;"><!--Exclude empty div-->&#160;<!--Exclude empty p--></p><p style="margin-left:0pt;margin-right:0pt;margin-top:0pt;margin-bottom:.0001pt;font-size:10.0pt;font-family:&quot;Times New Roman&quot;;">As of June 30, 2013, Mr. Michael Bodouroglou beneficially owned 56.5% of the Company&#8217;s common stock. 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