Exhibit 8.1

List of Subsidiaries

Name of Subsidiary	Place of Incorporation
Likiep Shipping Company Inc.	Marshall Islands
Orangina Inc.	Marshall Islands
Mili Shipping Company Inc.	Marshall Islands
Ebon Shipping Company Inc.	Marshall Islands
Lemongina Inc.	Marshall Islands
Ralik Shipping Company Inc.	Marshall Islands
Mejit Shipping Company Inc.	Marshall Islands
Micronesia Shipping Company Inc.	Marshall Islands
Rongerik Shipping Company Inc.	Marshall Islands
Utirik Shipping Company Inc.	Marshall Islands
Nauru Shipping Company Inc.	Marshall Islands
Eluk Shipping Company Inc.	Marshall Islands
Oruk Shipping Company Inc.	Marshall Islands
Jabor Shipping Company Inc.	Marshall Islands
Delap Shipping Company Inc.	Marshall Islands
Dud Shipping Company Inc.	Marshall Islands
Unitized Ocean Transport Limited	Marshall Islands