EXHIBIT 21
Subsidiaries of the Company
The following is a list of the Company’s subsidiaries as of February 25, 2005
Name of Significant Subsidiary |
| Country of |
| Portion of |
|
|
|
|
|
|
|
Husky Trading S.A. |
| Panama |
| 100 | % |
Panama Compania Armadora S.A. |
| Panama |
| 100 | % |
Skyvan Shipping Company S.A. |
| Panama |
| 100 | % |
Buenos Aires Compania Armadora S.A. |
| Panama |
| 100 | % |
Eaton Marine S.A. |
| Panama |
| 100 | % |
Chorrera Compania Armadora S.A. |
| Panama |
| 100 | % |
Cypres Enterprises Corp. |
| Panama |
| 100 | % |
Urbina Bay Trading S.A. |
| Panama |
| 100 | % |
Darien Compania Armadora S.A. |
| Panama |
| 100 | % |
Texford Maritime S.A. |
| Panama |
| 100 | % |
Changame Compania Armadora S.A. |
| Panama |
| 100 | % |
Cerada International S.A. |
| Panama |
| 100 | % |