Exhibit 8  Subsidiaries  Company
  
  Country of IncorporationAlexandra
  Navigation Inc.
  
  LiberiaAppleton
  Navigation S.A.
  
  LiberiaAuckland
  Marine Inc.
  
  LiberiaBaker
  International S.A.
  
  LiberiaBalticsea
  Marine Inc.
  
  LiberiaBayard
  Maritime Ltd.
  
  LiberiaBayview
  Shipping Inc.
  
  LiberiaBlacksea
  Marine Inc.
  
  LiberiaBounty
  Investment Inc.
  
  LiberiaBoxcarrier
  (No. 1) Corp.
  
  LiberiaBoxcarrier
  (No. 2) Corp.
  
  LiberiaBoxcarrier
  (No. 3) Corp.
  
  LiberiaBoxcarrier
  (No. 4) Corp.
  
  LiberiaBoxcarrier
  (No. 5) Corp.
  
  LiberiaBoxcarrier
  (No. 6) Corp.
  
  LiberiaBoxcarrier
  (No. 7) Corp.
  
  LiberiaBoxcarrier
  (No. 8) Corp.
  
  LiberiaCellcontainer
  (No. 1) Corp.
  
  LiberiaCellcontainer
  (No. 2) Corp.
  
  LiberiaCellcontainer
  (No. 3) Corp.
  
  LiberiaCellcontainer
  (No. 4) Corp.
  
  LiberiaCellcontainer
  (No. 5) Corp.
  
  LiberiaCellcontainer
  (No. 6) Corp.
  
  LiberiaCellcontainer
  (No. 7) Corp.
  
  LiberiaCellcontainer
  (No. 8) Corp.
  
  LiberiaChannelview
  Marine Inc.
  
  LiberiaCobaltium
  Shipping (Private) Ltd.
  
  SingaporeCobaltium
  Shipping Inc.
  
  LiberiaCommodore
  Marine Inc.
  
  LiberiaConstantia
  Maritime Inc.
  
  LiberiaContainers
  Lines Inc.
  
  LiberiaContainers
  Services Inc.
  
  LiberiaContinent
  Marine Inc.
  
  Liberia


Company
  
  Country of IncorporationDeleas
  Shipping Limited
  
  CyprusDuke
  Marine Inc.
  
  LiberiaErato
  Navigation Inc.
  
  LiberiaExpresscarrier
  (No. 1) Corp.
  
  LiberiaExpresscarrier
  (No. 2) Corp.
  
  LiberiaExpresscarrier
  (No. 3) Corp.
  
  LiberiaExpresscarrier
  (No. 4) Corp.
  
  LiberiaExpresscarrier
  (No. 5) Corp.
  
  LiberiaFastcarrier
  (No. 1) Corp.
  
  LiberiaFastcarrier
  (No. 2) Corp.
  
  LiberiaFastcarrier
  (No. 3) Corp.
  
  LiberiaFastcarrier
  (No. 4) Corp.
  
  LiberiaFastcarrier
  (No. 5) Corp.
  
  LiberiaFastcarrier
  (No. 6) Corp.
  
  LiberiaFederal
  Marine Inc.
  
  LiberiaFerrous
  Shipping (Private) Ltd.
  
  SingaporeFerrous
  Shipping Inc.
  
  LiberiaGeoffrey
  Shipholding Limited
  
  LiberiaGlobalspirit
  Shipping Limited
  
  CyprusHelderberg
  Maritime Inc.
  
  LiberiaIndependence
  Navigation Inc.
  
  LiberiaKarlita
  Shipping Company Limited
  
  CyprusLacey
  Navigation Inc.
  
  LiberiaLato
  Shipping (Private) Ltd.
  
  SingaporeLissos
  Shipping (Private) Ltd.
  
  SingaporeLito
  Navigation Inc.
  
  LiberiaLydia
  Inc.
  
  LiberiaMaria C Maritime Inc.
  
  LiberiaMedsea Marine Inc.
  
  LiberiaMedspirit Shipping
  Limited
  
  CyprusMegacarrier
  (No. 1) Corp.
  
  LiberiaMegacarrier
  (No. 2) Corp.
  
  LiberiaMegacarrier
  (No. 3) Corp.
  
  LiberiaMegacarrier
  (No. 4) Corp.
  
  LiberiaMegacarrier
  (No. 5) Corp.
  
  Liberia


Company
  
  Country of IncorporationMercator Shipping Inc.
  
  LiberiaOceanew Shipping
  Limited
  
  CyprusOceanprize Navigation
  Limited
  
  CyprusOrchid Navigation
  Corporation
  
  LiberiaOrtelius Maritime Inc.
  
  LiberiaPeninsula Maritime Inc.
  
  LiberiaRamona Marine Company
  Limited
  
  CyprusRoberto C Maritime Inc.
  
  LiberiaSapfo Navigation Inc.
  
  LiberiaSaratoga Trading S.A.
  
  LiberiaSeacaravel Shipping
  Limited
  
  CyprusSeacarriers Lines Inc.
  
  LiberiaSeacarriers Services
  Inc.
  
  LiberiaSeasenator Shipping
  Limited
  
  CyprusSederberg Maritime Inc.
  
  LiberiaSpeedcarrier
  (No. 1) Corp.
  
  LiberiaSpeedcarrier
  (No. 2) Corp.
  
  LiberiaSpeedcarrier
  (No. 3) Corp.
  
  LiberiaSpeedcarrier
  (No. 4) Corp.
  
  LiberiaSpeedcarrier
  (No. 5) Corp.
  
  LiberiaSpeedcarrier
  (No. 6) Corp.
  
  LiberiaSpeedcarrier
  (No. 7) Corp.
  
  LiberiaSpeedcarrier
  (No. 8) Corp.
  
  LiberiaStrondium Shipping Inc.
  
  LiberiaTeucarrier (No. 1)
  Corp.
  
  LiberiaTeucarrier (No. 2)
  Corp.
  
  LiberiaTeucarrier (No. 3)
  Corp.
  
  LiberiaTeucarrier (No. 4)
  Corp.
  
  LiberiaTeucarrier (No. 5)
  Corp.
  
  LiberiaTitanium Holdings Inc.
  
  LiberiaTully Enterprises S.A.
  
  LiberiaTyron Enterprises S.A.
  
  LiberiaVictory Shipholding
  Inc.
  
  LiberiaWellington Marine Inc.
  
  LiberiaWestwood Marine S.A.
  
  LiberiaWinterberg Maritime
  Inc.
  
  Liberia