EX-25.1 6 y04313exv25w1.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
    94-1347393  
(Jurisdiction of incorporation or
  (I.R.S. Employer
organization if not a U.S. national bank)
  Identification No.)
 
        
101 North Phillips Avenue
Sioux Falls, South Dakota
    57104  
(Address of principal executive offices)
  (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 ACQUISITION CORPORATION
NAVIOS ACQUISITION FINANCE (US) INC.
(Exact name of registrant as specified in its charter)
         
Republic of Marshall Islands
  6770   98-0676318
Delaware       99-0361513
(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 Acquisition Corporation
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)

 

 

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
Shinyo Dream Limited
   Hong Kong   98-0672656
Shinyo Kannika Limited
   Hong Kong   98-0672119
Shinyo Loyalty Limited
   Hong Kong   98-0672116
Shinyo Navigator Limited
   Hong Kong   98-0672118
Shinyo Ocean Limited
   Hong Kong   33-1218882
Shinyo Saowalak Limited
   British Virgin Islands   99-0360969
Thera Shipping Corporation
   Marshall Islands   98-0660091
Tinos Shipping Corporation
   Marshall Islands   98-0660090
Aegean Sea Maritime Holdings Inc.
   Marshall Islands   42-1771242
Amorgos Shipping Corporation
   Marshall Islands   98-0660064
Andros Shipping Corporation
   Marshall Islands   98-0660061
Antiparos Shipping Corporation
   Marshall Islands   98-0660065
Crete Shipping Corporation
   Marshall Islands   98-0660093
Ikaria Shipping Corporation
   Marshall Islands   98-0660066
Ios Shipping Corporation
   Cayman Islands   98-0660055
Kos Shipping Corporation
   Marshall Islands   98-0660073
Mytilene Shipping Corporation
   Marshall Islands   98-0660072
Rhodes Shipping Corporation
   Marshall Islands   42-1771249
Sifnos Shipping Corporation
   Marshall Islands   98-0660070
Skiathos Shipping Corporation
   Marshall Islands   98-0660082
Skopelos Shipping Corporation
   Cayman Islands   98-0660054
Syros Shipping Corporation
   Marshall Islands   98-0660087
Shinyo Kieran Limited
   British Virgin Islands   39-2077317
Folegandros Shipping Corporation
   Marshall Islands   42-1771250
Serifos Shipping Corporation
   Marshall Islands   42-1771251
 
(1)   The address for each of the additional registrant guarantors is 85 Akti Miaouli Street, Piraeus, Greece 185 38.
 
8 5/8% First Priority Ship Mortgage Notes due 2017
(Title of the indenture securities)
 
 

 

 

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 20th day of December, 2010.
         
  WELLS FARGO BANK, NATIONAL ASSOCIATION
 		  
  /s/ Martin G. Reed    
  Martin G. Reed   
  Vice President   

 

 

         
EXHIBIT 6
December 20, 2010
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 September 30, 2010, 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
     $ 16,933  
Interest-bearing balances
         39,916  
Securities:
              
Held-to-maturity securities
         0  
Available-for-sale securities
         154,552  
Federal funds sold and securities purchased under agreements to resell:
              
Federal funds sold in domestic offices
         3,839  
Securities purchased under agreements to resell
         10,627  
Loans and lease financing receivables:
              
Loans and leases held for sale
         31,749  
Loans and leases, net of unearned income
     686,595        
LESS: Allowance for loan and lease losses
     20,431        
Loans and leases, net of unearned income and allowance
         666,164  
Trading Assets
         32,145  
Premises and fixed assets (including capitalized leases)
         8,147  
Other real estate owned
         5,794  
Investments in unconsolidated subsidiaries and associated companies
         557  
Direct and indirect investments in real estate ventures
         115  
Intangible assets
              
Goodwill
         21,005  
Other intangible assets
         24,549  
Other assets
         54,397  
 
        
Total assets
     $ 1,070,489  
 
        
LIABILITIES
              
Deposits:
              
In domestic offices
     $ 726,238  
Noninterest-bearing
     158,737        
Interest-bearing
     567,501        
In foreign offices, Edge and Agreement subsidiaries, and IBFs
         84,789  
Noninterest-bearing
     1,834        
Interest-bearing
     82,955        
Federal funds purchased and securities sold under agreements to repurchase:
              
Federal funds purchased in domestic offices
         5,726  
Securities sold under agreements to repurchase
         15,280  

 

 

         
    Dollar Amounts  
    In Millions  
Trading liabilities
     15,098  
Other borrowed money (includes mortgage indebtedness and obligations under capitalized leases)
     43,063  
Subordinated notes and debentures
     20,643  
Other liabilities
     35,682  
Total liabilities
   $ 946,519  
EQUITY CAPITAL
        
Perpetual preferred stock and related surplus
     0  
Common stock
     519  
Surplus (exclude all surplus related to preferred stock)
     98,774  
Retained earnings
     17,543  
Accumulated other comprehensive income
     5,827  
Other equity capital components
     0  
Total bank equity capital
     122,663  
Noncontrolling (minority) interests in consolidated subsidiaries
     1,307  
 
      
Total equity capital
     123,970  
 
      
Total liabilities, and equity capital
   $ 1,070,489  
 
      
I, Howard I. Atkins, 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.
     
 
  Howard I. Atkins
 
  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