EX-25.1 109 y04900exv25w1.htm EX-25.1 exv25w1
Exhibit 25.1
 
 
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
 
FORM T-1
STATEMENT OF ELIGIBILITY
UNDER THE TRUST INDENTURE ACT OF 1939 OF A
CORPORATION DESIGNATED TO ACT AS TRUSTEE
 
o CHECK IF AN APPLICATION TO DETERMINE ELIGIBILITY OF A TRUSTEE PURSUANT TO SECTION 305(b) (2)
WELLS FARGO BANK, NATIONAL ASSOCIATION
(Exact name of trustee as specified in its charter)
     
A National Banking Association
(Jurisdiction of incorporation or
organization if not a U.S. national
bank) 		  94-1347393
(I.R.S. Employer
Identification No.)
     
101 North Phillips Avenue
Sioux Falls, South Dakota
(Address of principal executive offices) 		 
57104
(Zip code)
Wells Fargo & Company
Law Department, Trust Section
MAC N9305-175
Sixth Street and Marquette Avenue, 17th Floor
Minneapolis, Minnesota 55479
(612) 667-4608
(Name, address and telephone number of agent for service)
 
NAVIOS MARITIME HOLDINGS INC.
NAVIOS MARITIME FINANCE II (US) INC.
(Exact name of registrant as specified in its charter)
         
Republic of Marshall Islands
Delaware 		  4412   98-0384348
33-1219789
         
(State or other jurisdiction of
incorporation or organization) 		  (Primary Standard Industrial
Classification Code Number) 		  (I.R.S. Employer Identification
Number)
SEE TABLE OF ADDITIONAL REGISTRANT GUARANTORS
Navios Maritime Holdings Inc.
85 Akti Miaouli Street\Piraeus, Greece 185 38
(011) +30-210-4595000
(Address, including zip code, and telephone number, including area code, of registrant’s principal executive offices)
     
712 Fifth Avenue, 18th Floor
New York, New York
(Address of principal executive offices) 		 
10019
(Zip code)
 
8 1/8% Senior Notes due 2019
(Title of the indenture securities)
 
 

 

 

TABLE OF ADDITIONAL REGISTRANT GUARANTORS
         
    State or Other    
    Jurisdiction of    
Exact Name of Registrant as   Incorporation or   I.R.S. Employer
Specified in its Charter (1)   Organization   Identification Number
Faith Marine Ltd.
  Liberia   98-1006677
Vector Shipping Corporation
  Marshall Islands   66-0742469
Aramis Navigation Inc.
  Marshall Islands   98-0645621
Ducale Marine Inc.
  Marshall Islands   98-0633431
Highbird Management Inc.
  Marshall Islands   98-0633432
Floral Marine Ltd.
  Marshall Islands   98-0628840
Red Rose Shipping Corp.
  Marshall Islands   98-0628836
Ginger Services Co.
  Marshall Islands   98-0609514
Quena Shipmanagement Inc.
  Marshall Islands   98-0599808
Astra Maritime Corporation
  Marshall Islands   98-0599803
Primavera Shipping Corporation
  Marshall Islands   98-0599806
Pueblo Holdings Ltd.
  Marshall Islands   98-0594673
Beaufiks Shipping Corporation
  Marshall Islands   75-3269445
Rowboat Marine Inc.
  Marshall Islands   75-3269444
Corsair Shipping Ltd.
  Marshall Islands   75-3269443
Pharos Navigation S.A.
  Marshall Islands   98-0563832
Sizzling Ventures Inc.
  Liberia   98-0563838
Shikhar Ventures S.A.
  Liberia   98-0563837
Taharqa Spirit Corp.
  Marshall Islands   98-0563839
Rheia Associates Co.
  Marshall Islands   98-0563834
Rumer Holding Ltd.
  Marshall Islands   98-0563835
Kleimar N.V.
  Belgium   98-0386679
NAV Holdings Limited
  Malta   98-0386684
Navios Corporation
  Marshall Islands   13-3023670
Anemos Maritime Holdings Inc.
  Marshall Islands   98-0418747
Navios Shipmanagement Inc.
  Marshall Islands   98-0418748
Aegean Shipping Corporation
  Marshall Islands   47-0938383
Arc Shipping Corporation
  Marshall Islands   98-0386672
Magellan Shipping Corporation
  Marshall Islands   98-0386681
Ionian Shipping Corporation
  Marshall Islands   98-0418750
Apollon Shipping Corporation
  Marshall Islands   98-0418751
Herakles Shipping Corporation
  Marshall Islands   98-0418752
Achilles Shipping Corporation
  Marshall Islands   51-0495540
Kypros Shipping Corporation
  Marshall Islands   51-0795616
Hios Shipping Corporation
  Marshall Islands   51-0495614
Meridian Shipping Enterprises Inc.
  Marshall Islands   98-0386683
Mercator Shipping Corporation
  Marshall Islands   98-0386682
Horizon Shipping Enterprises Corporation
  Marshall Islands   98-0386677
Star Maritime Enterprises Corporation
  Marshall Islands   98-0386685
Navios Handybulk Inc.
  Marshall Islands   98-0156162
Navios International Inc.
  Marshall Islands   98-0163555
Nostos Shipmanagement Corp.
  Marshall Islands   66-0715101
Portorosa Marine Corp.
  Marshall Islands   66-0715102
White Narcissus Marine S.A.
  Panama   75-3252951
Hestia Shipping Ltd.
  Malta   98-0386676
Kleimar Ltd.
  Marshall Islands   75-3268633
Navimax Corporation
  Marshall Islands   06-1624242
Aquis Marine Corp.
  Marshall Islands   66-0751682
Navios Tankers Management Inc.
  Marshall Islands   42-1771241
 
(1)   The address for each of the additional registrant guarantors is 85 Akti Miaouli Street, Piraeus, Greece 185 38.

 

 

Item 1. General Information. Furnish the following information as to the trustee:
  (a)   Name and address of each examining or supervising authority to which it is subject.
 
      Comptroller of the Currency
Treasury Department
Washington, D.C.
 
      Federal Deposit Insurance Corporation
Washington, D.C.
 
      Federal Reserve Bank of San Francisco
San Francisco, California 94120
 
  (b)   Whether it is authorized to exercise corporate trust powers.
 
      The trustee is authorized to exercise corporate trust powers.
Item 2. Affiliations with Obligor. If the obligor is an affiliate of the trustee, describe each such affiliation.
           None with respect to the trustee.
No responses are included for Items 3-14 of this Form T-1 because the obligor is not in default as provided under Item 13.
Item 15. Foreign Trustee. Not applicable.
Item 16. List of Exhibits. List below all exhibits filed as a part of this Statement of Eligibility.
     
Exhibit 1.
  A copy of the Articles of Association of the trustee now in effect.*
 
    
Exhibit 2.
  A copy of the Comptroller of the Currency Certificate of Corporate Existence and Fiduciary Powers for Wells Fargo Bank, National Association, dated February 4, 2004.**
 
    
Exhibit 3.
  See Exhibit 2
 
    
Exhibit 4.
  Copy of By-laws of the trustee as now in effect.***
 
    
Exhibit 5.
  Not applicable.
 
    
Exhibit 6.
  The consent of the trustee required by Section 321(b) of the Act.
 
    
Exhibit 7.
  A copy of the latest report of condition of the trustee published pursuant to law or the requirements of its supervising or examining authority.
 
    
Exhibit 8.
  Not applicable.
 
    
Exhibit 9.
  Not applicable.

 

 

 
*   Incorporated by reference to the exhibit of the same number to the trustee’s Form T-1 filed as exhibit 25 to the Form S-4 dated December 30, 2005 of file number 333-130784-06.
 
**   Incorporated by reference to the exhibit of the same number to the trustee’s Form T-1 filed as exhibit 25 to the Form T-3 dated March 3, 2004 of file number 022-28721.
 
***   Incorporated by reference to the exhibit of the same number to the trustee’s Form T-1 filed as exhibit 25 to the Form S-4 dated May 26, 2005 of file number 333-125274.

 

 

SIGNATURE
Pursuant to the requirements of the Trust Indenture Act of 1939, as amended, the trustee, Wells Fargo Bank, National Association, a national banking association organized and existing under the laws of the United States of America, has duly caused this statement of eligibility to be signed on its behalf by the undersigned, thereunto duly authorized, all in the City of New York and State of New York on the 3rd day of June, 2011.
         
  WELLS FARGO BANK, NATIONAL ASSOCIATION
 		  
  /s/ Martin G. Reed    
  Martin G. Reed   
  Vice President   

 

 

         
EXHIBIT 6
June 3, 2011
Securities and Exchange Commission
Washington, D.C. 20549
Gentlemen:
In accordance with Section 321(b) of the Trust Indenture Act of 1939, as amended, the undersigned hereby consents that reports of examination of the undersigned made by Federal, State, Territorial, or District authorities authorized to make such examination may be furnished by such authorities to the Securities and Exchange Commission upon its request therefor.
         
  Very truly yours,

WELLS FARGO BANK, NATIONAL ASSOCIATION
 		  
  /s/ Martin G. Reed    
  Martin G. Reed    
  Vice President   
 

 

 

EXHIBIT 7
Consolidated Report of Condition of
Wells Fargo Bank National Association
of 101 North Phillips Avenue, Sioux Falls, SD 57104
And Foreign and Domestic Subsidiaries,
at the close of business March 31, 2011, filed in accordance with 12 U.S.C. §161 for National Banks.
                 
            Dollar Amounts  
            In Millions  
ASSETS
                
Cash and balances due from depository institutions:
                
Noninterest-bearing balances and currency and coin
           $ 17,369  
Interest-bearing balances
             74,672  
Securities:
                
Held-to-maturity securities
             0  
Available-for-sale securities
             145,551  
Federal funds sold and securities purchased under agreements to resell:
                
Federal funds sold in domestic offices
             6,481  
Securities purchased under agreements to resell
             10,955  
Loans and lease financing receivables:
                
Loans and leases held for sale
             19,408  
Loans and leases, net of unearned income
     686,307          
LESS: Allowance for loan and lease losses
     18,779          
Loans and leases, net of unearned income and allowance
             667,528  
Trading Assets
             34,595  
Premises and fixed assets (including capitalized leases)
             8,062  
Other real estate owned
             5,290  
Investments in unconsolidated subsidiaries and associated companies
             588  
Direct and indirect investments in real estate ventures
             108  
Intangible assets
                
Goodwill
             20,936  
Other intangible assets
             27,181  
Other assets
             54,306  
 
                
 
              
Total assets
           $ 1,093,030  
 
              
 
                
LIABILITIES
                
Deposits:
                
In domestic offices
           $ 749,729  
Noninterest-bearing
     171,738          
Interest-bearing
     577,991          
In foreign offices, Edge and Agreement subsidiaries, and IBFs
             93,508  
Noninterest-bearing
     1,895          
Interest-bearing
     91,613          
Federal funds purchased and securities sold under agreements to repurchase:
                
Federal funds purchased in domestic offices
             1,809  
Securities sold under agreements to repurchase
             14,094  

 

         
    Dollar Amounts  
    In Millions  
Trading liabilities
     19,802  
Other borrowed money
        
(includes mortgage indebtedness and obligations under capitalized leases)
     38,506  
Subordinated notes and debentures
     17,445  
Other liabilities
     32,953  
 
        
 
      
Total liabilities
   $ 967,846  
 
        
EQUITY CAPITAL
        
Perpetual preferred stock and related surplus
     0  
Common stock
     519  
Surplus (exclude all surplus related to preferred stock)
     98,980  
Retained earnings
     19,029  
Accumulated other comprehensive income
     5,381  
Other equity capital components
     0  
 
        
 
      
Total bank equity capital
     123,909  
Noncontrolling (minority) interests in consolidated subsidiaries
     1,275  
 
      
 
        
Total equity capital
     125,184  
 
        
 
      
Total liabilities, and equity capital
   $ 1,093,030  
 
      
I, Timothy J. Sloan, EVP & CFO of the above-named bank do hereby declare that this Report of Condition has been prepared in conformance with the instructions issued by the appropriate Federal regulatory authority and is true to the best of my knowledge and belief.
Timothy J. Sloan
EVP & CFO    
We, the undersigned directors, attest to the correctness of this Report of Condition and declare that it has been examined by us and to the best of our knowledge and belief has been prepared in conformance with the instructions issued by the appropriate Federal regulatory authority and is true and correct.
     
John Stumpf
  Directors
Dave Hoyt
    
Michael Loughlin