EX-21.1 44 y04808exv21w1.txt LIST OF SUBSIDIARIES . . . EXHIBIT 21.1 ULTRAPETROL (BAHAMAS) LIMITED SCHEDULE B1 - ALL ENTITIES IN WHICH THE COMPANY OWNS AN EQUITY INTEREST
STATE/ COUNTRY OF ENTITY ORGANIZATION PERCENTAGE OF OWNERSHIP -------------------------------------- ----------------- -------------------------------------------- 1 Arlene Investment Inc. Panama 100% - UABL Limited 2 Avemar (Holdings) Bahamas Ltd. Bahamas 100% - Ultrapetrol (Bahamas) Ltd. 3 Baldwin Maritime Inc. Panama 100% - Princely International Finance Corp. 4 Bayham Investments S.A. Panama 100% - Regal International Investments S.A. 5 Blueroad Finance Inc. Panama 100% - UABL Limited 6 Braddock Shipping Inc. Panama 100% - Ultracape International S.A. 7 Cavalier Shipping Inc. Panama 100% - Regal International Investments S.A. 8 Cedarino SL Spain 100% - Corydon International S.A. 9 Corporacion de Navegacion Mundial S.A. Chile 100% - Princely International Finance Corp. 10 Corydon International S.A. Uruguay 100% - UABL Limited 11 Dampierre Holdings Spain S.L. Spain 100% - Massena Port S.A. 12 Danube Maritime Inc. Panama 100% - Princely International Finance Corp. 13 General Ventures Inc. Liberia 100% - Princely International Finance Corp. 14 Imperial Maritime Ltd. Bahamas 100% - Princely International Finance Corp. 15 Imperial Maritime Ltd. (Bahamas) Inc. Panama 100% - Princely International Finance Corp. 16 Internationale Maritime S.A. Bahamas 100% - Ultrapetrol (Bahamas) Ltd. 17 Invermay Shipping Inc. Panama 100% - Ultracape International S.A. 18 Kattegat Shipping Inc. Panama 100% - Ultrapetrol (Bahamas) Ltd. 19 Kingly Shipping Ltd. Bahamas 100% - Princely International Finance Corp. 20 Lonehort S.A. Uruguay 100% - UABL Limited 21 Majestic Maritime Ltd. Bahamas 100% - Ultrapetrol (Bahamas) Ltd. 22 Maritima Sipsa S.A. Chile 49% - Coporacion de Navigacion Mundial 23 Marnave S.R.L. Paraguay 50% - Arlene Investment Inc. 50% - Blueroad Finance Inc. 24 Massena Port S.A. Uruguay 100% - Ultrapetrol (Bahamas) Ltd. 25 Monarch Shipping Ltd. Bahamas 100% - Princely International Finance Corp. 26 Noble Shipping Ltd. Bahamas 100% - Princely International Finance Corp.
ULTRAPETROL (BAHAMAS) LIMITED SCHEDULE B1 - ALL ENTITIES IN WHICH THE COMPANY OWNS AN EQUITY INTEREST
STATE/ COUNTRY OF ENTITY ORGANIZATION PERCENTAGE OF OWNERSHIP -------------------------------------------------- ----------------- -------------------------------------------- 27 Obras Terminales y Servicios S.A. Paraguay 50% - UABL Terminals (Paraguay) S.A. 28 Oceanpar S.A. Paraguay 1% - Princely International Finance Corp. 99% - Dampierre Holdings Spain S.L. 29 Oceanview Maritime Inc. Panama 100% - Princely International Finance Corp. 30 Packet Maritime Inc. Panama 100% - UP Offshore (Panama) S.A. 31 Padow Shipping Inc. Panama 100% - UP Offshore (Panama) S.A. 32 Pampero Navigation Inc. Panama 100% - UP Offshore (Panama) S.A. 33 Parabal S.A. Paraguay 90% - Cedarino S.L. 10% - Thurston Shipping Inc. 34 Parfina S.A. Paraguay 50% - Coporacion de Navigacion Mundial 50% - Dampierre Holdings Spain S.L. 35 Parkwood Commercial Corp. Panama 100% - Ultrapetrol (Bahamas) Ltd. 36 Parque Ecologico Industrial de Altamira S.A. de C.V. Mexico 99.99% - Ultracape Delaware, LLC 37 Princely International Finance Corp. Panama 100% - Ultrapetrol (Bahamas) Ltd. 38 Puertos del Sur S.A. Paraguay 50% - UABL Terminals (Paraguay) S.A. 39 Regal International Investments S.A. Panama 100% - Princely International Finance Corp. 40 Riverpar S.A. Paraguay 2.5% - Thurston Shipping Inc. 97.5% - Cedarino S.L. 41 Riverview Commercial Corp. Panama 100% - Princely International Finance Corp. 42 Sernova S.A. Argentina 0.4% - Thurston Shipping Inc. 99.6% - Cedarino S.L. 43 Sovereign Maritime Ltd. Bahamas 100% - Princely International Finance Corp. 44 Stanmore Shipping Inc. Panama 100% - Ultrapetrol (Bahamas) Ltd. 45 Thurston Shipping Inc. Panama 100% - UABL Limited 46 Tipton Marine Inc. Panama 100% - Princely International Finance Corp. 47 UABL Barges (Panama) Inc. Panama 100% - UABL Limited 48 UABL International S.A. Panama 100% - UABL Limited
ULTRAPETROL (BAHAMAS) LIMITED SCHEDULE B1 - ALL ENTITIES IN WHICH THE COMPANY OWNS AN EQUITY INTEREST
STATE/ COUNTRY OF ENTITY ORGANIZATION PERCENTAGE OF OWNERSHIP -------------------------------- ----------------- ------------------------------------------- 49 UABL Limited Bahamas 50% - UP River (Holdings) Limited 50% - UPB (Panama) Inc. 50 UABL Paraguay S.A. Paraguay 2.5% - Thurston Shipping Inc. 97.5% - Cedarino S.L. 51 UABL S.A. Argentina 3.4% - Thurston Shipping Inc. 96.6% - Cedarino S.L. 52 UABL Terminals (Paraguay) S.A. Panama 100% - Ultrapetrol (Bahamas) Ltd. 53 UABL Terminals Ltd. Bahamas 50% - UP River Terminals (Panama) S.A. 50% - UPB (Panama) Inc. 54 Ultracape (Holdings) Ltd. Bahamas 60% - Ultrapetrol (Bahamas) Ltd. 40% - AIG-GE Capital LAIF LP. 55 Ultracape Delaware, LLC USA 100% - Ultracape (Holdings) ltd. 56 Ultracape International S.A. Panama 100% - Ultracape (Holdings) Ltd. 57 Ultrapetrol International S.A. Panama 100% - Princely International Finance Corp. 58 Ultrapetrol S.A. Argentina 7% - Ocean par S.A. 93% - Dampierre Holdings Spain S.L. 59 UP Offshore (Bahamas) Ltd. Bahamas 27.78% - Ultrapetrol (Bahamas) Ltd. 66.67% - AIG-GE Capital LAIF LP. 5.55% - Comintra Enterprises Ltd. 60 UP Offshore (Holdings) Ltd. Bahamas 100% - Ultrapetrol (Bahamas) Ltd. 61 UP Offshore (Panama) S.A. Panama 100% - UP Offshore (Bahamas) Ltd. 62 UP Offshore Apoio Maritimo Ltda. Brazil 99.99% - UP Offshore (Bahamas) Ltd. 63 UP River (Holdings) Ltd. Bahamas 92.86% - Ultrapetrol (Bahamas) Ltd. 7.14% - International Finance Corp. 64 UP River Terminals (Panama) S.A. Panama 100% - Ultrapetrol (Bahamas) Ltd. 65 UPB (Panama) Inc. Panama 100% - Ultrapetrol (Bahamas) Ltd. 66 Wallasey Shipping Inc. Panama 100% - Ultracape (Holdings) Ltd.
ULTRAPETROL (BAHAMAS) LIMITED SCHEDULE B1 - ALL ENTITIES IN WHICH THE COMPANY OWNS AN EQUITY INTEREST
STATE/ COUNTRY OF ENTITY ORGANIZATION PERCENTAGE OF OWNERSHIP -------------------------------- ----------------- ------------------------------------------- 67 Yataity S.A. Paraguay 10% - Thurston Shipping Inc. 90% - Cedarino S.L.