Exhibit 8.1
Subsidiaries of Excel Maritime Carriers Ltd.
The following are the subsidiaries of Excel Maritime Carriers Ltd. (the
"Company"). Each of the subsidiaries is, directly or indirectly, a wholly-owned
subsidiary of the Company.
Ship-owning companies with vessels in operation at December 31, 2005
Company Country of incorporation Date of incorporation Vessel-owned
------- ------------------------ --------------------- ------------
1. Centel Shipping Co. Ltd. ("Centel") Cyprus May 2002 Lady
2. Snapper Marine Ltd. ("Snapper") Liberia June 2004 Marybelle
3. Pisces Shipholding Ltd. ("Pisces") Liberia June 2004 Goldmar
4. Liegh Jane Navigation S.A. ("Liegh") Liberia July 2004 Swift
5. Teagan Shipholding S.A. ("Teagan") Liberia November 2004 First Endeavour
6. Fianna Navigation S.A. ("Fianna") Liberia November 2004 Isminaki
7. Ingram Limited ("Ingram") Liberia November 2004 Emerald
8. Whitelaw Enterprises Co. ("Whitelaw") Liberia November 2004 Birthday
9. Castalia Services Ltd. ("Castalia") Liberia November 2004 Princess I
10. Yasmine International Inc. ("Yasmine") Liberia January 2005 Elinakos
11. Candy Enterprises Inc. ("Candy") Liberia February 2005 Renuar
12. Barland Holdings Inc. ("Barland") Liberia February 2005 Attractive
13. Fountain Services Ltd. ("Fountain") Liberia February 2005 Powerful
14. Amanda Enterprises Ltd. ("Amanda") Liberia March 2005 Happy Day
15. Marias Trading Inc. ("Marias") Liberia March 2005 Angela Star
16. Tanaka Services Ltd. ("Tanaka") Liberia March 2005 Rodon
17. Harvey Development Corp. ("Harvey") Liberia March 2005 Fortezza
Ship-owning companies with vessels sold during the year ended December 31, 2005
Company Country of incorporation Date of incorporation Vessel-owned
-------- ------------------------ --------------------- ------------
18. Becalm Shipping Co. Ltd. ("Becalm") Cyprus July 1998 Fighting Lady
19. Tortola Shipping Co. Ltd. ("Tortola") Cyprus July 1998 Lucky Lady
20. Storler Shipping Co. Ltd. ("Storler") Cyprus August 1998 Petalis
21. Madlex Shipping Co. Ltd. ("Madlex") Cyprus January 1999 Almar I
Companies established to acquire vessels
Company Country of incorporation Date of incorporation
-------- ------------------------ ---------------------
22. Magalie Investments Corp.("Magalie") Liberia March 2005 -
23. Melba Management Ltd. ("Melba") Liberia April 2005 -
24. Minta Holdings S.A. ("Minta") Liberia April 2005 -
25. Odell International Ltd. ("Odell") Liberia April 2005 -
26. Naia Development Corp. ("Naia") Liberia April 2005 -
Other group companies
Company Country of incorporation Date of incorporation Activity
------- ------------------------ --------------------- --------
27. Maryville Maritime Inc. ("Maryville") Liberia August 1983 Management company
28. Point Holdings Ltd. ("Point") Liberia February 1998 Holding company