Exhibit 8.1

Registrant's Subsidiaries	Jurisdiction of Organization
Aggeliki Shipping Ltd.	Republic of Liberia
Allendale Investments S.A.	Republic of Panama
Alterwall Business Inc.	Republic of Panama
Diana Trading Ltd.	Republic of the Marshall Islands
Eleni Shipping Limited	Republic of Liberia
Emmentaly Business Inc.	Republic of Panama
Eternity Shipping Company	Republic of the Marshall Islands
Manolis Shipping Limited	Republic of the Marshall Islands
Noumea Shipping Ltd.	Republic of the Marshall Islands
Pantelis Shipping Corp.	Republic of Liberia
Pilory Associates Corp.	Republic of Panama
Prospero Maritime Inc.	Republic of the Marshall Islands
Saf-Concord Shipping Ltd.	Republic of Liberia
Tiger Navigation Corp.	Republic of the Marshall Islands
Xenia International Corp.	Republic of the Marshall Islands
Xingang Shipping Ltd.	Republic of Liberia