fcc - t.l · 2. stratos wireless is 100 percent owned (both equity and voting interests) by stnitos...

·-~~---::;---~~--~------ --- ~~----- ---- ---

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owned (measured either by equity or voting interests) by citizens of, or entities with principal

places ofbusiness in, the United States or another WTO-member country. As a result, the

presumption that foreign ownership in excess of the Section 31 O(b)(4) benchmark serves the

public interest applies here. Thus, the proposed foreign ownership of the Stratos Licensees is

fully consistent with Commission precedent and should be found to be in the public interest.

Principal Place OfBusiness Showing (Post-Transaction)

The applicants provide the following infonnation regarding the principal place of

business for each of Stratos Holdings, Stratos Wireless, Stratos Global, CIP Canada, CIP UK,!

Inmarsat Finance and Inmarsat pIc. Specifically, in accordance with Commission prec~dent,9 the

following infonnation is being provided: (1) place of incorporation; (2) nationality of :

investment principals (those entities or individuals having a 10 percent or greater inter~st),

,

officers and directors; (3) the country in which the headquarters are located; (4) country in which

the majority oftangible property is located; and (5) the country from which the company derives

the greatest amount of sales and revenues from operations. Applying the Commission;s five-

factor test shows that each of the relevant Stratos, CIP and Inmarsat entities has its pril}cipal

place of business in the United States, Canada, or the United Kingdom.

Stratos Holdings, Inc.

1.

2.

. 3.

Q

Stratos Holdings is a Delaware corporation.

Stratos Holdings is 100 percent owned (both ~quity and voting interests) by StratosWireless. All of the officers and directors ofStratos Holdings ar~ either U.S., Canadianor Dutch citizens.

The world headquarters of Stratos Holdings is located in the United States.

See Foreign Ownership GUidelines/or FCC Common Carrier and Aeronautical RadioLicenses. DA 04-3610, at 11-12 (Nov. 17,2004).

4

---~----------~-- ------------- ~-- - - -- - -~-

4. Stratos Holdings is a holding company. Other than Section 214 authorizations held forthe benefit of certain of its subsidiaries and the shares of its subsidiaries, Stratos Holdingshas no material tangible property of its own.

5. Stratos Holdings is a holding company, with no sales or revenues of its own.

Stratos Wireless Inc.

1. Stratos Wireless is a Canadian corporation.

2. Stratos Wireless is 100 percent owned (both equity and voting interests) by StnitosGlobal. All of the officers and directors ofStratos Wireless are Canadian citizens.

3. The world headquarters of Stratos Wireless is located in Canada.

4. The majority ofStratos Wireless's tangible property is in Canada.

5. Stratos Wireless derives the greatest amount of its sales and revenues from its operationsin Canada.

Stratos Global Corporation

1. Stratos Global is a Canadian corporation.

2. Stratos Global will be 100 percent owned (both equity and voting interests) by CIPCanada. All of the current officers and directors ofStratos Global are either U.S. orCanadian citizens.

3. The world headquarters of Stratos Global is located in the United States.

4. Stratos Global is a holding company. Other than the shares of its subsidiaries, StratosGlobal has no material tangible property of its own.

5. Stratos Global is a holding company, with no sales or revenues of its own.

CIP Canada Investment Inc.

1. CIP Canada is a Canadian corporation.

2. .CIP Canada is 100 percent owned (both equity and voting interests) by CIP UK. Atclosing, it is anticipated that the officers and directors ofCIP Canada will be ci~izens ofthe following countries: the United States, Canada. the Netherlands, France, o( theUnited Kingdom.

3. The world headquarters of ClP Canada is located in Canada.

5

~-----~--------- ---~-

4. CIP Canada is a holding company. Other than the shares of Stratos Global that: it willacquire upon consummation of the proposed transaction, CIP Canada will have nomaterial tangible property of its own.

5. CIP Canada is a holding company, with no sales or revenues of its own.

elP UK Holdings Limited

1. elP UK is a company formed under the laws of England and Wales.

2. elP UK will be 100 percent owned (both equity and voting interests) by lnmarsatFinance. At closing, it is anticipated that the officers and directors ofeIP UK Wilt'becitizens of the following countries: the United States, Canada, the Netherlands, France,or the United Kingdom.

3. The world headquarters ofCIP UK is located in the United Kingdom.

4. CIP UK is a holding company. Other than the shares of elP Canada, CIP UK has nomaterial tangible property of its own. .

5. elP UK is a holding company, with no sales or revenues of its own.

Inmarsat Finance III Limited

1. Imnars.at Finance is a company fonned under the laws of England and Wales.

2. Inmarsat Finance is 100 percent owned (both equity and voting interests) by lmnarsat pIc.The officers and directors of Imnarsat Finance are citizens of the United States or theUnited Kingdom.

3. The world headquarters ofImnarsat Finance is located in the United Kingdom.:

4. The majority of Inmarsat Finance~s tangible property is located in the United Kingdom.

5. Aside from income from its loan to CIP UK, lnmarsat Finance has no sales or revenuesof its own.

Inmarsat pic

I. lnmarsat pIc is a company formed under the laws of England and Wales.

2. lnmarsat pIc is widely-held. Each entity that owns or controls 10 percent or more oftheequity interests in, or the voting power of, Inmarsat pIc has its place of formation orprincipal place of business in the United States, the Cayman Islands, Ireland or the UnitedKingdom. The officers and directors of lnmarsat pIc are citizens of Australia, the UnitedStates or the United Kingdom.

6

3. The world headquarters ofImnarsat pIc is located in the United Kingdom.

4. The majority of Inmarsat pIc's tangible property is located in the United Kingdom.

5. Inmarsat pic deJives the greatest amount of its sales and revenues from Canada.

Details on Ownership ofShares ofInmarsat picI,

As noted above, Imnarsat pIc is a public limited company listed on the ~ondon

Stock Exchange (LSE: ISAT). Imnarsat pIc has one class of voting shares - ordinary shares of

€0.0005 each with one vote per share, 458,400,172 of which are issued and outstanding. There

are currently over 2,200 registered shareholders of Inmarsat pIc.

At least approximately 89 percent-ofthe Inmarsat pIc shares is beneficially

owned, and approximately 88 percent of the voting power in Inmarsat pic is controlled; by U.S.

or other WTO-based companies, or by senior Inmarsat pic management who are citizens of the

United States or other WTO-member countries. To Inmarsat pIc's knowledge, approxiratelyan

additionall.32 percent of its shares is owned and voted by entities from non-WTO-meinber

countries. In the aggregate, holdings where equity and voting interests are known comprise

approximately 90 percent (equity) and 89 percent (voting) of the interests in Inmarsat pIc.

Inmarsat pic bases its shareholder analysis on data collected by

JPMorganCazenove Limited ("Cazenove") at Inmarsat pIc's request, which Inmarsat pic requests

in the ordinary course of business, and in accordance with the UK Companies Act (which,

governs Inmarsat pIc). This share~older analysis is based on Cazenove's most recent survey

conducted in May 2008. 10

)0 Cazcnove surveys only shareholders that own 100,000 or more shares. Shareholdings of100,000 or less each represent only approximately 0.02 percent of the issued and outstandingshares. which is considered de minimis tor Cazcnove's review purposes. Inmarsat pIc does

7

--~--~-----

Cazenove reviews raw shareholder data maintained by the Inmarsat pIc share

registrars and classifies this data.'by known shareholding names. Cazenove also investigates

shareholdings to ident~fy, where possible, the underlying beneficial ownership. In accordance

with the UK Companies Act, this investigation typically involves writing to the named:

shareholder, requesting that it provide the relevant information relating to the underlying:

ownership.. Cazenove also takes steps to determine the country of "domicile" II for Inmarsat

pIc's shareholders and any third parties that manage those shareholdings. As with the

Commission's "principal place of business" test, Cazenove conducts research to look b:eyond the

street address associated with the .shares. Among other things, Cazenove looks to available

information such as: investment purpose, country oforganization, location ofheadquarters, and

country from which the funds being managed were contributed.

Cazenove does not analyze holdings ofprivate individuals. However, dataI

maintained by the share registrars indicates that a small percentage (less than 1 percent) of

Inmarsat pIc shares is owned by individuals, other than Inmarsat management, whose 'fitizenship

is not known. The vast majority of these individuals own less than 0.01 percent e~ch. :Certain

members of lnmarsat pIc's senior management (who are citizens of the United States or other

WTO-member countries) own in the aggregate approximately 1.08 percent.

In many instances, Inmarsat pIc shares are managed by a different entity than the

beneficial owner, with the investment manager typically exercising the voting power. This

shareholder analysis accounts for this distinction by attributing beneficial holdings to ~quity

not in most cases know the principal place of business ofbeneficial owners who own fewerthan 100,000 shares each.

II Although Cazenove uses the term "domicile," the applicants refer to "principal place ofbusiness," consistent with the Commission's terminology. .

8

I ..

ownership and management holdings to voting interests.12 An percentages listed below are

approximate, and derived as described above.

1. Aggregate percentage of total equity and voting stock held by or on behalf,ofindividuals that are citizens of the United States. '

Except as noted below with respect to Inrnarsat pIc management, approximately

0.0 I percent of shares is owned by individuals whose citizenship has not been ascertai~ed,but

whose shares are registered in their names to United States addresses. I3 Cazenove has :noti

investigated whether additional shareholdings may be held by individuals through a street name.

2. The aggregate percentage of total equity and voting stock held by or on behalf ofindividuals that are citizens of foreign countries.

Except as noted below, approximately 0.6 percent of Inrnarsat pIc share~ is owned

by individuals whose citizenship has not been ascertained, but whose shares are registered in

their names to non-U.S. addresses. 14 Cazenove has not investigated whether additional

shareholdings may be held by individuals through a street name.

Certain individuals in Inmarsat pic senior management (who are citizens ofthe

United States or other WTO-member countries) hold, in the aggregate, approximately 1.08

12 In certain cases in which the beneficial owner is known, either it is not certain whether thatbeneficial owner relies on a manager, or Inmarsat pIc does not have complete infonnationabout the manager that might exercise votin'g power. In the aggregate, those circumstancesexist for approximately I percent ofInmarsat pic's shares.

13 Because citizenship has not been 'ascertained for these individuals, their shareholdi~gs are notincluded in the above calculation ofaggregate equity or aggregate voting interests inInmarsat pIc held by citizens of, or entities with their principal place of business in, theUnited States or other WTO-member countries.

~

l·r Because citizenship has not been ascertained for these individuals, their shareholdings arc notincluded in the above calculation ofaggregate equity or aggregate voting interests inInmarsat pIc held by citizens of, or entities with their principal place ofbusiness in,' theUnited States or other WTO-member countries. .

9

,I

percent of lnmarsat pIc shares (voting and equity). These individuals are citizens of Australia,

the United Kingdom, or the United States.

:t Aggregate percentage of total equity and voting stock held by banks, insurancecompanies, pension plans and foundations/endowments organized in the UnitedStates and controlled by U.S. citizens.

Banks, insurance companies, pension plans and foundations/endowments

(including holdings by analogous entities such as custodians, market makers and charities)

organized in the United States and controlled by U.S. entities or individuals hold appro~imately

0.78 percent of the equity and 0.29 percent of the voting interests in Inmarsat pic. IS

4. Aggregate percentage of total equity and voting stock held by banks, insurancecompanies, pension plans and foundations/endowments controlled by foreigncitizens or organized in foreign countries. . I

Banks, insurance companies, pension plans and foundations/endowments

(including holdings by analogous entities such as custodians, market makers and charities)

organized in foreign countries or controlled by foreign individuals or entities hold approximately

13.89 percent of the equity and 13.49 percent of the voting interests in I~arsat plc. 16 ~ntities in

this category have their principal place ofbusiness in one of the following countries, an ofwhich

IS Shares ofJnmarsat pIc that fall into this category, where it is unknown whether the beneficialowner relies on a manager that exercises voting power, comprise approximately 0.5 percentof the outstanding equity interests in Inmarsat pIc. Thus, these shareholdings are notincluded in calculating known voting power.

16 Shares ofInmarsat pic that fall into this category, where it is unknown whether the beneficialowner relies on a manager that exercises voting power, comprise approximately 0.4 percentof the outstanding equity interests in Inmarsat pIc. Thus, these shareholdings are notincluded in calculating known voting power.

10

are members of the WTO: Channel Islands, Finland, France, Germany, Ireland, Italy, :

Luxembourg, Norway, Scotland, Switzerland, or the United Kingdom. 17

S. The aggregate percentage of total equity and voting stock held by private ~quity

funds and management investment companies (i.e., closed end funds and mutualfunds) investing in Inmarsat pic that are organized in the United States and thathave their principa~places of business in the United States.

Private equity funds and management investment companies (including holdings

by analogous entities such as hedge funds and unit trusts) that are organized in the United States

and that have their principal places ofbusiness in the United States hold approximately 13.60

.percent of the equity and 33.19 percent of the voting interests in Inmarsat plc. 18

6. The aggregate percentage of total equity and voting stock held by private equityfunds and management investment companies (i.e., closed end funds and mutualfunds) investing in Inmarsat pIc that are organized in a foreign country !!!.that havetheir principal places of business in a foreign country.

Private equity funds and management investment companies (includingholdings

by analogous entities such as hedge funds and unit trusts) that are organized in a foreign country

QI that have their principal places ofbusiness in a foreign country hold approximately 53.81

17 Shares of lnmarsat pIc that fall into this category, where the beneficial owners' shares aremanaged by an entity with its principal place ofbusiness in a different country, compriseapproximately 0.6 percent of the outstanding equity interests in Inmarsat pIc. In each suchcase, the rnanflger has its principal place of business in one of the WTO-member countrieslisted above. '

18 As indicated in Appendix B, Harbert Fund Advisors, Inc., an Alabama corporation with itsprincipal place of business in the United States ("Harbert"), serves as investment advisor toan entity that serves as investment manager to Harbinger Capital Partners Master Fund I,Ltd., a fund organized in the Cayman Islands ("Harbinger Master Fund") that owns

. approximately 19.59 percent' of the outstanding shares cif Inmarsat pIc. Therefore, thisanalysis ascribes (i) to Harbert the voting power with respect to this 19.59 percent ownershipinterest (accounted for in category 5 of this shareholder analysis), and (ii) to HarbingerMaster Fund the equity with respect to this 19.59 percent ownership interest (accounted forin category 6 of this shareholder analysis).

11

·~--~~-------

'" ;' Q'

percent of the equity and 33.94 percent of the voting interests in Inmarsat plc. 19 Entities in this

category have their principal place of business in one of the following countries, all of which are

members of the WTO; Australia, France, Gennany, Ireland, Isle Of Man, Italy, Luxembourg,

Norway, Scotland, Switzerland, or the United Kingdom. 2o

7. Other types of investors not covered above.

To the best of Inmarsat pic's knowledge, none of its shares is owned and voted by

investors not covered above that are both organized in the United States and have their;principal

places of business in the United States.

Approximately 7.1 percent ofInmarsat pic shares is owned and voted b~ entities

not covered above that have a principal place ofbusiness in a foreign country, including

Bangladesh, China, Gabon, Italy, Japan, Liberia, Libyan Arab Mamahiriya, Russian Federation,

and Vietnam. These shareholders, including those discussed in the next paragraph, are: either

representatives ofgovernments or privatized telecommunications companies.

Of the toregoing interests, the following is the aggregate percentage of equity and

voting interests attributable to non-WTO investment: one Liberian investor (0.14 perc~nt), one,,

Libyan Arab Mamahiriya investor (0.03 percent), and one Russian Federation investor (1.15

percent). These are legacy shareholders from the period when Inmarsat pic was an

intergovernmental organization. These shareholders then held shares in Inmarsat pIc when it. ,

19 See id. .Shares ofInmarsat pic that fall into this category, where it is unknown whether thebeneficial owner relies on a manager that exercises voting power, comprise approximately0.28 percent of the outstanding equity interests in Inmarsat pic. Thus, these shareholdingsare not included in calculating known voting power. . ,

:w Shares ofInmarsat pic that fall into this category, where the beneficial owners~ shares aremanaged by an entity whose principal place of business is in a different country, compriseapproximately 20.58 percent of the outstanding equity interests in Inmarsat pIc. In ~ach suchcase, the manager's principal place of business is in the United States or another WTO-member country listed above. .

12

--~~- -----~-- -~- -

..

, ."

became a private company in 1999 and subsequently when it became a quoted company on the

London Stock Exchange. To date, these shareholders have not traded,their original

shareholdings.

13

.;

.... I

Vessel Inventory

-------------~---------------- -- ------- --- ------------

nventoryAll Vessels Active as of Ma 28, 2008

!Vessel10 Be 2ASULANAABSHIRE TIDEACEADELITAADMIRALADMIRAL TIDEADRIANA IIIAJALASKA JURISALASKA PACKERALASKA PATRIOTALASKA PIONEERALASKA RANGERALASKA SPIRITALASKA VICTORYALASKA WARRIORALASKAN BEAUTYALASKAN EXPLORERALASKAN FRONTIERALASKAN LEGENDALASKAN NAVIGATORALCYONEALEUTIAN BEAUTYALEUTIAN FALCONALEXAC2ALLlE-BALPHERATZAMATUANAIIAMERICAAMERICANAMERICAN CHALLENGERAMERiCAN EAGLEAMERICAN EAGLEAMERICAN ENTERPRISEAMERICAN LADYAMERICAN LIBERTYAMERICAN NO.1AMERICAN NO.1AMERICAN PRIDEAMERICAN STARAMERICAN VICTORYAMHASANA MARIAANDROMEDAANNAANNE MARIEANNIEBAPHRODITEAPHRODITEAQUILAARABELLAARBELLAARCTICARCTIC 4ARCTIC e:NTERPRISEARCTIC FJORDARCTIC FOX

IcallslgnlWDD5570WDC5166WDB6406WDB2661

'WDA6355WDC7191WDB6408WDE2469WDB6030WBC9659WTH4389WB06534WUW2191WUT3657WBC9660WBC9661WAY2496WBX7979WDB9918WDB7815WDD2074WDC6644WTB2789WTM6101WBP4669WDB5233WC06950WDD3049WCY3382WCY4152WDC7842WBD2212WDD5521WDD9994WDE3560WDB4259WDC7828WTY8664WCD7842WDD3157WDC7835WDC7838WDD9339WDB8869WDB5351WDE2861WQCY327WAI6209WDA3103WDA9202WCS6941WDA3248WDB3155WCZ9009GAFWCZ4167WRKWWDD3200

--------~~--- ~--- --~-- --------- --~ -


IvesselARCTIC SEAARCTIC STORMARGOSARICAARICAARISTEAARTIC EAGLEARTICWINDASKARIAT LEASTATLANTISATLAS TIDEAUDEACIOUSAURIGAAURORAAURORAAURORAAY 0' KAY IIBAD BOY "BALAENABARBARA ANNBARBARA FOSSBARTHEL TIDEBAYOU BRAVEBELLA ROSA

. BELLE DE JOURBERING LEADERBIENVILLEBIG EASYBILLIE MARIE"BILLIKINBILLY HBLACKHAWKBLACKHAWKBLARNEYBLARNEYBLUE FINBLUE GADUSBLUE PELICANBLUE SKY MESSENGERBLUE STARBLUEFINBOARDWALKBODACIOUSBOSSBOUNTIFULBOURBONBOURGEOIS TIDEBOWFINBRAINSTORMBRAVO CHARLIE IIIBREAK N WINDBREANNA LYNNBRENDANJ.BOUCHARPBRITIANYBROUSSARD TIDEBROWN SUGARBUELAH CHOUEST

Icall slgnl .WSX6087WTQ5896WDB5583WAHWAH2154WCZ3934WDC7577

·WDB6038WCY8276WOO 3541WDB6080AHTSWDA4686WTE6780WCY3186WDA8752WTE6779KUS1108777WCZ7988WDC3811WDA3890WYL4318WDD9455WCW8383WDB6870WDB8838WDC7227WDD3644WDB2564WBR6203WUR9812WCY4992WDC8377WBN2081WBP4766WDD8603WDC7379WDA9319WCY9334WDA4190WDC6583WDA4528WDC7890WDB4231WDB6514W$X6805WDD3649WDB6487WDC8083WDB6617WDA3648WDA6554WCY8099WCS5207WDD6036WDB3471WAT5861WCQ4144

~--~~--~-~~--- ---

o nventoryAll Vessels Active as of Ma 28, 2008

IVesselCAL DIVER 2CAL DIVER I

CAL DIVER IVCAL DlVERVCALLISTOCALLISTOCAPE ATLASCAPE CHARLESCAPE CODCAPE DAVISCAPE DOUGLASCAPE FEARCAPE FLATIERYCAPE HANAMANOIACAPE HATIERASCAPE HORNCAPE HORNCAPE HUNTERCAPE KALA KANECAPE KUMUKAHICAPE LOBOSCAPE LOOKOUTCAPE MAYCAPE MISTYCAPE NOMECAPE NORTHCAPE SABLECAPE SAN LUCASCAPE SCOTTCAPE SPENCERCAPE ST. JOHNCAPT BUD BISSOCAPTAIN STEVEN L. BENNETICAPTAIN TIDECARL F THORNECARPEDIEMCASUAL TIMECATHERINEBCATSPAWCAVALCADEC-COMMANDC-EXPLORERCHALEURCHAMPAGNE LADYCHANTELLYCHARTERSCHENEGACHERYL TIDECHICKEN OF THE SEACHINOOKCHRISTINACLEAN SWEEPCLIPPER TIDECOASTAL MERCHANTCOASTAL NAVIGATORCOASTAL NOMADCOASTAL PILOTCOASTAL PROGRESS

Icall signlWTS2811WYT8527WDB6118WBP2185WCZ7527WDD2099WDE4112WCX9887WCD4526KUS1088474KUS1088475WDT5868WDA7384WDC2281KUS971 043WAX21 02WDC4259WBW3758WDE4115WDC2331YJTC2WBW3757WUS5634WCW7174KUS1097128KUS1097129WUZ8272WDE3676WCX9061WCF7450WDB3528WCW4130KAXOWDB3662WDB3673KUSCARPEDIKUSCASUALTWCW4128WCZ6775WDC9457WCX3880WCP9632WDB6550WDC2323WDA3769WDD3652'WDC3629WDD9583WCT7214WCY2791WOA9745KUSCLEANSWWDB3665WCV8696WCY9686WDC6439WBP7281WDC6363

9 nventoryAll Vessels Active as of Ma 28, 2008

I~V~es~s~el~~ I~all sign~

COASTAL SEA WCA79~COLEE TIDE WDB6552COLLINS TIDE WAHJCOLONEL WDB4973COMMANDER TIDE WDB3660CONSTALLATION WDD6097CONTI WDD3645COURAGEOUS WRB85575CRAZY HORSE WDD6455CRYSTAL SEA WCX8007CSF LABRADOR YJSM3CYGNET WDA6843DAE IN HO IV WCW0924DAEDALUS WDC 6227DAKOTA WCR6030DALFREY TIDE WDE2499DAMON B BANKSTON WDJQDAMON B. BANKSTON WHDBDANALI WDC9916DANCER WDA7450DANZA WCZ6610DAVIDSON WCY3880DEBBIE SUE WDB6989DEE WHITE WCW4132DEENA TIDE WDC3755DEEP SEA WCY5358DEFENDER WBV3213DELATTE TIDE WDD9042DENALI WSRVDENNY TIDE WZH2523DESTINATION WA09505DESTINATION UNKNOWN WDA2260DETERMINED WUU5617DEVILLE TIDE WDB5449DEVON WCX3395DIFFERENT DRUMMER II KUS1053040DISCOVERY YJ5V3DISCOVERY STAR WUT6365DIVA WCZ4482DLB 264 YJQY9DMT EMERALD WDD7141DOLCE FAR NIENTE WDD2808DOLPHIN WCY9073DOLPHIN 106 WCJ7760DOLPHIN 109 WBV4165DONA MARTITA WDA7195DOUBLE EAGLE WDD9256DOUBLE EAGLE WYE6617DOZER WDC4056DR. JACK WDB6524DR> JACK WDB 6524DRAGONQUEST WDA6175DREAM CAPER WDA7986EASTERN WIND WDB4538EASTWARD WDD5722EBANKS TIDE WDB4888ED KYLE WBCWED KYLE YJVE9

..


IYesselEIJAGUAREL FALCON GRANDEELEFTHERAELEPHANTE GRANDEEMERALD SEAEMMA FOSSEMPRESS OF THE NORTHENFORCERERIN NICOLEESPLANADEESPRIT DE TIZZAEVENING STAREVER AFTEREVEREST HORIZONTALEVOLUTIQNEXCALIBUR IIFIT OCEAN ALASKAFIT SEAFISHERFNGLACIER BAYFNKELLY MAEFNTRAVELERFN U.S. INTREPIDFAIRFIELD NEW VENTUREFAIRWEATHERFAMILIAFARIDAH TIDEFETULEMOANAFIFTH DAYFIRST AND TENFLIGHTFOGGY MOUNTAINFORTIER TIDEFORTUNEFORUM STARFOURC'SFOUR LANDSFOXFREEDOMFREEDOMFRIENDSHIP IIFUGRO ENTERPRISEFV ALEUTIAN SPRAYGA!.N<Y IIIGALE FORCEGALILEOGALLANT FOXGARTH FOSSGECO DOLPHINGECO MANTAGECO PEGASUSGECO SNAPPERGENERAL FRANK S. BESSONGEYStRGLACIER BAYGLADIATORGLENN.EDWARDSGLOBAL EXPLORERGLORIA PARK

Icall signlWDC4355WSF2730WCY4972WUS2520WTC9343WCF3931WDB4791WCY2270WCJ 7710WDD3650WDC4204WTP6868WDC8536WDA8926WCZ3997WTS9712WDB4599WAM7620WDA9379WDB8572WDDS082WCX5858WERDWDB5890WDC6158WDC3856KUS1107783WCW7880WDD8097KUS970446WAY6075WCCJWDB6748WDC8278WCW9970KUS1104922WDC7535FREEDOMWDD7717WDB4466WDD9388WWD6243YJSH2WDE3243WDB6835WDB6748WCE4732YJQ59YJQT2WCY8665YJSV4MECWCZ5528WDA9379WCZ900WDC8439WDA8878WDB5136

------------------~ -- --------------------------- -- ~--


!VesselGODFATHERGODSPEEDGOLDEN ALASKAGOLDEN PEARLGOLDEN SABLE .GOOD FORTUNEGRAND SLAMGRANDE CARIBEGRANDE MARINERGRANDERGREAT AMERICAN IIIGREAT LADYGRIFFINGRYPHON SOLOGSE KEY MONHATTANGSF ADRIATIC 1GSF ADRIATIC IXGSF ADRIATIC VGSF ADRIATIC VIGSF ADRIATIC VIIIGSF ADRIATIC X1GSF ALEUTIANGSFARCTIC 1GSFARCTIC IIIGSFARTIC IIGSFBALTICGSF BRITANNAGSF COMPACT 134GSF COMPACT DRILLERGSF CONSTELLATION 1GSF CONSTELLATION"GSF DADA GORGUDGSF EXPLORERGSF GALAXY 1GSFGALAXY IIGSF GALAXY IIIGSF GALVESTON KEYGSF GRAND BANKGSF HIGH ISLAND 8GSF HIGH ISLAND IIGSF HIGH ISLAND VIIGSF JACK RYANGSF KEY GIBRALTARGSF KEY SINGAPOREGSF MAGELLANGSF MAIN PASS 4GSF MAIN PASS IGSFMONARCHGSFMONITORGSFRIG 105GSF RIG 124GSFRIG 135GSFRfG 136 .GSF RIG103GSH RIG 127GUARDIANGULF ACE IIGULF BRENT

ICall slgnl86525WDA8595WSG6446WDD8405WDD2707WDA9141WDD9838WCX4495WCY6594WDC9248WOO 5926KUS1074116WCW7902WDB6809YJRR6YJSM4YJSR3YJSQ9YJSR2YJSM6YJSX4YJSG8 .YJUE5YJSU9YJSU8YJSLEMLBAYJSX7YJRR5YJST9YJUC34JLRWCX5333YJSG9YJRX2YJSH2YJSX6YJUF7

'YJUE9YJUE7YJSM9YJSX4YJSH3YJRX3YJSH4YJUF3YJUF2YJRR7YJRX4YJSH5YJSH6YJSH8·YJSH9YJRX6YJSH7WDC8335WDB7440WDB7044

"

'.0

\) nven\ory~f1 Vessels Active as of Ma 28, 2008

r~Ve~s~se~I~~ lcall 51gnlGULF CAJUN WDC379GULF CAJUN WDC3791GULF DUKE WBS7689GULF EAGLE WDB6518GULF FLEET 102 WBE5959GULF FLEET NO. 53 WCX1037GULF FLEET NO. 53 WDB5908GULF FLEET NO.51 WDB7039GULF MAIDEN WY4017GULF MOON WDB6907GULF RAMBLER WCA3768GULF TITAN WDA5598GUSTO WDA7715HAMMERHEAD WDE2998HARVEST MOON WDD2996HARVEY GAMAGE WCY2572HAT TRICK WDE2975HAWAII YJUK4HAWK WCX9342HEBERT TIDE WDD3151HERCULES WDB5543HERON WDA8818HIBANX 118 WCY8183HIGH QUEST WDC6646HIGHLAND LIGHT WAP8120HILARIUM WCZ4818HOLLY H VYYC8647HOSANNA WDD2757HUNTER D WCY9212HUNTRESS WCW8080IBERVILLE WDD3651IMPULSIVE WDB2297INFINITY WDC2824INVADER WDB9855IPHIGENIA WDA5723ISISH SEA WDB5555ISLAND BRAVE WDB 2690ISLAND CHAMPION WCZ7046ISLAND ENTERPRISE KEOMISLAND GIRL WDB3774ISLAND SPIRIT WDB6620ISLAND STAR WDD3319ISLAND WARRIOR WDA9217Irs GOOD WDA2353IWALANI ECZ7835J &B WDC3576J. GEORGE BETZ WDC7596J.R. NAVIGATOR WDA2431JACKIE B WCW4124JAN TIDE WRC6320JANE A. BOUCHARD WDB4391JEFFREY FOSS WY9383JENNIE TIDE WDA5631JES AN WDC8463JIGME WDB7567JIM JIM WSE7464JO LYNN TIDE WDD9584JOllY TAR WDA7400

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9 nventoryAll Vessels Active as of Ma 28. 2008

I~V~es~s.;:el~~=~ lcall slgn~JONATHAN ROZIER WDB6164JOYRIDE WDA8006JUBILAEUM WCY5633JUNO WDB7715JUST A TOY WXAPK.C. BEAR WCZ8422KAKAPO WCP8380KALEVALA WDB3870KANALOA WDC9646KEHAULANI WC03434KEN C TAMBLYN WBDWKESTRAL YJUW5KEWA WDC6103KIJIT WDD8924KIMMER KUSKIMMERKISKA SEA WAP5710KISKA SEA WAP75710KODIAK ENTERPRISE WCZ4176KONIG WCE9458KRISUJEN WDB2072KYLIE KUSKYLIEKYTE WCN5373L T CAMPBELL WBD5759L.T. SEA KUS11D3388LA MARIE WDB8014LA TOJA ZCPK4LACHNEY TIDE WDB3659LADY BERNADEnE III KZV2062LADY CATEE . WCZ771 0LADY ELIZABETH WDA2283LADY FRANCINE FQMJLADY GLENDA KUS1106436LADY KISKA WDA9401LADY LAURA WDC6016LADY LEAF KUS1089255LADY LI WCY7362LADY SARAH KUS1020402LADY T WDE2077LAUREN FOSS WDB3834LEIFI POL TFLPLESTER POLLACK WDB5097LETIIE G. HOWARD WCZ 2164LIBERTY WDD7863LILLI ANN WDA6117LINDA LEE BOUCHARD WDD4370LINDSEY FOSS WCC9031LIONS WHELP WDB5166LISA MARIE WBC4527LISA MARIE WCX8374L1ZIKA W0A2964LLOYD M. DEFELICE WDC4126LOBLOLLY WDA6561LOCKMADDY WCW9924LOCURA WDA7028LONE WOLF WDC6645LORA WDC7119LOUIS TIDE WDB7060LOURDES TIDE WDB3957

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IvesselLOURDES TIDELOUSTEAU TIDELOVING TIDELYNN GINGHERLYNNELYNXM.V.CASTORMN ADMIRAL TIDEMN INDEPENDENCEMN J.R. NAVIGATORMN MISS JANE TIDEMN NEW VENTUREMN NORHT AMERICANMIY HILARIUMMAC TIDE 62MADRONAMAESIANMAINE LADYMAKANIHULAMALOLOMAN o WARMANANAMANDALAYMANFRED NYSTROMMANUKAIMARATHON RUNNER IIMARBELLAMARGAMARIA BRUSCOMARINE COMMANDERMARINER TIDEMARION TIDEMARITIME MAIDMAROOHEETAMASLENY TIDEMASLENY TIDEMATSUMAVERICKMAXIMUSIIMAYAMAYAMELVILLEMERSEAMERVATTIDE'MEZZALUNAMICHELE A DEFELICE IIMIOHELE A. DEFELICEMICHIGAN PRIDEMIDDLEPOINTMIDNIGHT STARMIDWAY TIDEMILLENNIUM FALCONMILLENNIUM STARMILLIE GMIRAGEMIRAGE"MISCONDUCTMISSCHL0E

Itall slgnlYJVC6WDB4898WDB4325WCX3285WYP5163WDA8148WDC7822WDB6408KBGRWDA2431WDGJWERDWBL7959WCZ4818WBS2985"WDB2037WCZ9976WCY2953KUS1093891WYH6327WDB7616WDC5391WDA6235WCN3590WDC9780WDA7807WDA 7441KUS1075740WDD6090WDA 7095WDB3667YJVC8WSJ6698WDD5245WDB7327YJVE7WDB4025WDC7431WDC3874WCS9231WCZ8376WECBWDC5671WDB7329WCz:T294WCE9358WDC6519WDD2689WDA6356YJXM9WDC3565WCY2138WDA2184WCR8892WDD5540KUS1093040WDA9864535938

------------- - -------~~ ----- ---- -------- --

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IVesselMISS CYNTHIA RENEEMISS EMMA MCCALLMISS JANE TIDEMISSION TIDEMISTER ANDREMISTER CH~RLlE

MISTER JOHN H.MISTRAL TIDEMISTRAL TIDEMiSTY DAWNMISTY LADYMITCHELL TIDEMITCHELL TIDEMOANAWAVEMOMBOMOONSHADOWMORNING STARMORTON S. BOUCHARD IVMRFREDMRJACKMRJIMMR. NICKMTMITCHELLMUSEMVATABOYMVMCARTHURMV MYSTIQUE PRINCESSMV SEA VENTUREMVTHUNDERMY JEANIE TOOMYLENE TIDENAKOANANETIENANOOKNATOMANATULANAUTICAL DREAMNAUTICAL DREAMNAVEGANTENAVIGATOR TIDENERVOUS WREAKNEVER NEVER LANDNEW HORIZONNEW VENTURENEWPORTNO RETREATNOATAKNOElIANOROIC EXPLORERNORFOLKNORMAN 0NORMANSNORNANORSEMAN IINORTHSTARNORTHERN ROMANCENORTHERN VICTORNORTHROP TIDE

ICali 51gnlWDD9117WDB380BWDGJWDA3758WBS5277WDD7455WDB6520WCZ5264WDC3566WCW7361WDA4261WCZ6120WDD5714WCZ8065WDB9834WCM2107WDB4700WDB7380WDA3846WDA9730WDB4328WC24571WDA9674WDD3654WCX9825WDD59303DVJWDC5952WCY5716l<US997886WDA5939WDA5033WCY4770WDA5340WBB5799ZDHG7WBP2975WP2975KUS1094087WDB3726WDC6036WCY2144WKWBWDC8227WRC2930WDD8026WDC8249WC48432WCZ9011WCZ8773WDC5066WCW7514GJMPWDD6688KUSt088657WDB9894WCZ 6534WRA7964

----------~-------- ----~.- -----~--- ---- ---------- ----------- - --~-...


IVesselNORTHWINDNOVAOCEAN CHALLENGEROCEAN CONQUESTOCEAN EXPEDITIOMOCEAN MARINEROCEAN NAVIGATOROCEAN PEACEOCEAN PIONEEROCEAN PLANETOCEAN PROWLEROCEAN RANGEROCEAN TITANOCEAN WARRIOROIL PROVIDEROLSKIY RYBAKORLEANSPACIFIC AVENGERPACIFIC BALLARDPACIFIC EAGLEPACIFIC PATRIOTPACIFIC PRINCESSPACIFIC RAVENPACIFIC STARPACIFIC STARPACIFIC VENTUREPACIFIC WOLFPACIFICAPAGEANTRYPALMETTOPAPA MOONPAQUETPARAGONPARAGONPARNAPASSIONPASTOLIKPAT TAYLORPAT TILLMANPATHFINDERPATHFINDER FISHERIESPATRICE TIDEPAT.RICIA SPATRIOTPATTAROZZI TIDEPATTAROZZI TIDEPAUL W MURRILLPEGASUSPEGASUS 55PEGASUS 75PENNY PERFECTPERLAMARPERSUASIONPHANTASMAPHYLLIS DUNLAPPILOT TIDE·PLENTY·POLAR AQI?ENTURE

Icali 51gnlWDC2030KUS1105873WDE3526WDD8838WDD9952WCF3990WSC2552WAY5182WDC9491WDA3633WBBY692WAM7635WDB9647WDD9953YJRL5YJRC5WDD3648WCY8175WDA4237WBV7409WDB6493WAH8674WDB7583WAJ4491WDA4236WDA4235WDC5470KUSPACIFICWDC6933WZD6656WDA9420WC29396WCW2745WDA2311WDB3307WXU9172WDC8246WDD3152WDD5582WDA5098WDB4153WDA6989WCY3627WDA8846NBEGWBEGWAHQWUR9795KUS1117136KUS1112340WDC7163PERLAMARWDC7032WDB5540WDA6552WDB3663WDB7895WftZV

~~~--~~~-~---_.~~~~-----~-~ -~------~-~-- ----- ----- ~ -- -~--- -..

nvenforyAll Vessels Active as of Ma 28, 2008

IVesselPOLAR DISCOVERYPOLAR ENDEAVOURPOLAR KINGPOLAR RANGERPOLAR RESOLUTIONPOLAR TEXASPOLAR VIKINGPOLAR VIKINGPOLARISPOLLUXPOLO PONYPOOL RIG 53POOL RIG 54POPSPOSEIDONPRESIDENT TIDEPRIBILOFPRIDE ARIZONAPRIDE ARKANSASPRIDE FLORIDAPRIDE GEORGIAPRIDE MISSOURIPRIDE TENNESSEEPRINCESS MARYPVSTIMSONQUINTESSENCER&RRNENDEAVORRNKNORRRACHELRAFFAELLORAFFLES LIGHTRALPH E. BOUCHARD INCRAMBLERRAPTURERAVELIO.RAVELLOHAVENRCBAKERREADERSHIPREBECCAREBECCA IRENEREBELREBEL LADYRED ROOSTER IIIRELIANCERELIANCERENAISSANCE'REPUBLIC TIDERESERVE TIDERESOLUTERESTLESSREUNIONRICHMONDRISEN STARROCKET SCIENCEROCKETEERROGER REVELLE

Icall SlgnlWACWWCAJWDC7562WDC8652WDJKKNFDWCE8951WDD6494WBJ3258WDC8632WDA9862WRB2799WRB2839WAX2912WAN8865WDB3661WRQFWDD2693YJUD4WDD2694WDD2687WDD2691YJSW8926878WCY2270WDB2207WDB4661WCE5063KCEJWCX7199WDD9140WZR3046WTF3974WDD6813WCY5674WDAZ2517WDA2517WDC3714WDD5110WDB2970WCY9742WTW8603WCZ5882WCW2713WCY3865RELIANCEWYB7383WCZ3119WDB 7611WDD3768WRB2691WDB4345WCW9834

,WRA9337WDB6748WDC7210WDA5376KAOU


IVesselROGGYRONDYSROSEROWAN GORILLA IIIROYALROYAL POLARISRULING ANGELRUNAWAYRYLAN ISIR AMERICAM PROGRESSSIR LONG BEACHSABRASAGAMORESAGINAW BAYSALSASAM M. TAALAKSAMANASANDRA FOSSSANGARISSANTA FE RIG 140SAPPHIRESARAH JANESAYONARASCALLYWAGSCANDIASCAPHASCEPTREDISLESEA BEARSEABIRDSEA DANCERSEA EAGLESEA FOXSEA HAWKSEA HAWKSEA HAWKSEA HEROSEA HONORSEA OUESTSEA RAVENSEA TRADERSEA WOLFSEAYASEAFISHERSEAFREEZE ALASKASEA-LABSEASNAILSEADLE ENTERPRISESEADLE ENTERPRISESEAWARDJOHNSONSEAWINDSECOND WINOSELDOM SEENSEMINOLESHADY LADYSHELLFISHSIBERIAN SEASIR WILMINGTONSIRENE

Icall51gnlWDB5424WDB7717WDGOKSCPWDD3653WYM7156KUS908748WDB4067WDA9498KAWNWHCAWSOS061WCY7914WDA7860KUS1110624WCX5321WAS4347WYL4908WCZ7121YJSJ2WCF4538WDA6084WCR5508WCY6228WSP4876WDB3037WCY5511WDB4308WDA3388WAT4381WCYS079WDE2381WDA3282WDA7448WNMH709WDB7880WDE4114WDD9174WCY8374WDE2379WCW9770WDA5064WAM7620WCY8277KFL6199LLWCY5538WCZ4181WDB4541WST9756WDC6668WDA4257WDA4283WDC5359WAW7045WDB7938WDB9466WBVZWDB2428

... ..: ..


WesselSIVAIMOANASLAM DUNKSLAP SHOTSLOWDANCINSLY FOXSNOHOMISHSOLAR TIDE IISOLITUDESONIA TIDESOPHIA ROSESOUTHERN CROSSSOVEREIGNSOVEREIGNTYSPEARS SEA IISPINDRASPIRITSPIRITSPIRIT OF GLACIER BAYSPIRIT OF MASSACHUSETTSSPIRIT OF NANTUCKETSSV CORWITH CRAMERST.LOUISSTACEY FOSSSTANNARD TIDESTARBOUNDSTEADFASTSTEPHANIE DANNSTERLING PONYSTRABOSTRONGSTRONG PATRIOTSTUYVESANTSUMMER BAYSUMMER WINDSUN VOYAGERSUNDANCESUNDANCESUNJAMRSUNRISESUSAN TIDETABOR BOYTEMPO SEATENACIOUSTERALANIIITHERESA MARIETHUNDERHEADTIGERTIGLAXT1tlAMATOTOTOUCHDOWNTOUJOURSTOUJOURS L'AUDACETOULOUSETOURBILLONTRACEYCTREMONTTRIPLE PLAY

'callsigfflKUS1107782WDE2559WDE2976WDB8915WDB7683WDB9022WDB4238WDA9844EDD2814WDA5686WCY8195KUS1028144WDA2574WBP8373WCV5793WCJ 6900WDB6699WDD4938WCZ9474WDD4938WTF 3319WDD3646WYL4909WDB7882WUR5426WDB3250WCD9870WDA5630WDB5485WCX6083WCZ8589WNFXWDB 5216KUSSUMMERWDB4776KUS1041390WDC2106WCS4407WCW8266YJVD9WF4404WDC5705WCW8738WDA2147WDD2138WD84915WCE2134WCT9883WDA8688WDA3330WDE2561WCD2915WDA2585WDD3647WDD7654WDA6354WDC8455WDD9837

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