Company Severnav SA Bucharest S.E.

Severnav SA is a Romania-based company primarily engaged in the construction and maintenance of ships and floating structures. The Company’s portfolio includes liquefied gas carriers, inland chemical tankers, cargo vessels, passenger ships, multipurpose container ships, multipurpose field supply and pipe carriers, floating docks, research vessels, seismic support ships, fish and shrimp beamers, barges, coast guard vessels and yachts, among others. The Company operates in Romania, in the city of Drobeta Turnu Severin. Severnav SA distributes its products nationally and internationally. As of December 31, 2011, the Company’s clients comprised Hartmann Schiffahrts Gmbh, Bodewes Products BV and Rensen BV, among others.