Exhibit 8.1
List of Subsidiaries Navios Maritime Holdings Inc.
Subsidiaries included in the consolidation:
| | | | | | |
Company Name | | Nature | | Ownership Interest | | Country of Incorporation |
Navios Maritime Holdings Inc. | | Holding Company | | | | Marshall Is. |
Navios Corporation | | Sub-Holding Company | | 100% | | Marshall Is. |
Navios International Inc. | | Operating Company | | 100% | | Marshall Is. |
Navimax Corporation | | Operating Company | | 100% | | Marshall Is. |
Navios Handybulk Inc. | | Operating Company | | 100% | | Marshall Is. |
Hestia Shipping Ltd. | | Operating Company | | 100% | | Malta |
Anemos Maritime Holdings Inc. | | Sub-Holding Company | | 100% | | Marshall Is. |
Navios ShipManagement Inc. | | Management Company | | 100% | | Marshall Is. |
NAV Holdings Limited | | Sub-Holding Company | | 100% | | Malta |
Kleimar N.V. | | Operating Company/ Vessel Owning Company/ Management Company | | 100% | | Belgium |
Kleimar Ltd. | | Operating Company | | 100% | | Marshall Is. |
Bulkinvest S.A. | | Operating Company | | 100% | | Luxembourg |
Primavera Shipping Corporation | | Operating Company | | 100% | | Marshall Is. |
Ginger Services Co. | | Operating Company | | 100% | | Marshall Is. |
Aquis Marine Corp. | | Sub-Holding Company | | 100% | | Marshall Is. |
Navios Tankers Management Inc. | | Management Company | | 100% | | Marshall Is. |
Astra Maritime Corporation | | Vessel Owning Company | | 100% | | Marshall Is. |
Achilles Shipping Corporation | | Operating Company | | 100% | | Marshall Is. |
Apollon Shipping Corporation | | Operating Company | | 100% | | Marshall Is. |
Herakles Shipping Corporation | | Operating Company | | 100% | | Marshall Is. |
Hios Shipping Corporation | | Operating Company | | 100% | | Marshall Is. |
Ionian Shipping Corporation | | Operating Company | | 100% | | Marshall Is. |
Kypros Shipping Corporation | | Operating Company | | 100% | | Marshall Is. |
Meridian Shipping Enterprises Inc. | | Vessel Owning Company | | 100% | | Marshall Is. |
Mercator Shipping Corporation | | Vessel Owning Company | | 100% | | Marshall Is. |
Arc Shipping Corporation | | Vessel Owning Company | | 100% | | Marshall Is. |
Horizon Shipping Enterprises Corporation | | Vessel Owning Company | | 100% | | Marshall Is. |
Magellan Shipping Corporation | | Vessel Owning Company | | 100% | | Marshall Is. |
Aegean Shipping Corporation | | Operating Company | | 100% | | Marshall Is. |
Star Maritime Enterprises Corporation | | Vessel Owning Company | | 100% | | Marshall Is. |
Corsair Shipping Ltd. | | Vessel Owning Company | | 100% | | Marshall Is |
Rowboat Marine Inc. | | Operating Company | | 100% | | Marshall Is |
Beaufiks Shipping Corporation | | Operating Company | | 100% | | Marshall Is |
Nostos Shipmanagement Corp. | | Vessel Owning Company | | 100% | | Marshall Is. |
Portorosa Marine Corp. | | Operating Company | | 100% | | Marshall Is. |
Shikhar Ventures S.A. | | Vessel Owning Company | | 100% | | Liberia |
Sizzling Ventures Inc. | | Operating Company | | 100% | | Liberia |
Rheia Associates Co. | | Operating Company | | 100% | | Marshall Is. |
Taharqa Spirit Corp. | | Operating Company | | 100% | | Marshall Is. |
Rumer Holding Ltd. | | Vessel Owning Company | | 100% | | Marshall Is. |
Pharos Navigation S.A. | | Vessel Owning Company | | 100% | | Marshall Is. |
Pueblo Holdings Ltd. | | Vessel Owning Company | | 100% | | Marshall Is. |
Quena Shipmanagement Inc. | | Operating Company | | 100% | | Marshall Is. |
Aramis Navigation Inc. | | Vessel Owning Company | | 100% | | Marshall Is. |
White Narcissus Marine S.A. | | Vessel Owning Company | | 100% | | Panama |
| | | | | | |
Company Name | | Nature | | Ownership Interest | | Country of Incorporation |
Navios GP L.L.C. | | Operating Company | | 100% | | Marshall Is. |
Red Rose Shipping Corp. | | Vessel Owning Company | | 100% | | Marshall Is. |
Highbird Management Inc. | | Vessel Owning Company | | 100% | | Marshall Is. |
Ducale Marine Inc. | | Vessel Owning Company | | 100% | | Marshall Is. |
Vector Shipping Corporation | | Vessel Owning Company | | 100% | | Marshall Is. |
Faith Marine Ltd. | | Vessel Owning Company | | 100% | | Liberia |
Navios Maritime Finance (US) Inc. | | Operating Company | | 100% | | Delaware |
Navios Maritime Finance II (US) Inc. | | Operating Company | | 100% | | Delaware |
Tulsi Shipmanagement Co. | | Operating Company | | 100% | | Marshall Is. |
Cinthara Shipping Ltd. | | Operating Company | | 100% | | Marshall Is. |
Rawlin Services Co. | | Operating Company | | 100% | | Marshall Is. |
Mauve International S.A. | | Operating Company | | 100% | | Marshall Is. |
Serenity Shipping Enterprises Inc. | | Vessel Owning Company | | 100% | | Marshall Is. |
Mandora Shipping Ltd | | Vessel Owning Company | | 100% | | Marshall Is. |
Solange Shipping Ltd. | | Vessel Owning Company | | 100% | | Marshall Is. |
Diesis Ship Management Ltd. | | Operating Company | | 100% | | Marshall Is. |
Navios Holdings Europe Finance Inc. | | Sub-Holding Company | | 100% | | Marshall Is. |
Navios Asia LLC | | Sub-Holding Company | | 100% | | Marshall Is. |
Iris Shipping Corporation | | Vessel Owning Company | | 100% | | Marshall Is. |
Jasmine Shipping Corporation | | Vessel Owning Company | | 100% | | Marshall Is. |
Emery Shipping Corporation | | Vessel Owning Company | | 100% | | Marshall Is. |
Lavender Shipping Corporation | | Vessel Owning Company | | 100% | | Marshall Is. |
Esmeralda Shipping Corporation | | Vessel Owning Company | | 100% | | Marshall Is. |
Triangle Shipping Corporation | | Vessel Owning Company | | 100% | | Marshall Is. |
Roselite Shipping Corporation | | Operating Company | | 100% | | Marshall Is. |
Smaltite Shipping Corporation | | Operating Company | | 100% | | Marshall Is. |
All subsidiaries included in the consolidated financial statements are 100% owned, except for Navios Logistics and its subsidiaries, which is 63.8% owned.
Affiliates included in the financial statements accounted for under the equity method
In the consolidated financial statements of Navios Holdings, the following entities are included as affiliates and are accounted for under the equity method for such periods: (i) Navios Partners and its subsidiaries (ownership interest as of December 31, 2015 was 20.1%, which includes a 2.0% general partner interest); (ii) Navios Acquisition and its subsidiaries (economic interest as of December 31, 2015 was 46.6%); (iii) Acropolis Chartering and Shipping Inc. (“Acropolis”) (economic interest as of December 31, 2015 was 35.0%); (iv) Navios Europe I and its subsidiaries (economic interest as of December 31, 2015 was 47.5%); and (v) Navios Europe II and its subsidiaries (economic interest as of December 31, 2015 was 47.5%) .
