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Nordic American Tanker Shipping Ltd. ("NAT") was incorporated in Bermuda in 1995. In September 1995 NAT sold securities to the public in the US and in Europe. The shares are today trading at the New York Stock Exchange ("NYSE"). The proceeds from the first offering (and subsequent exercise of warrants) were used to acquire 3 new suezmax double hull crude oil tankers (151,000 dwt) built at Samsung Heavy Industries Co. Ltd. to very high specifications. The three vessels ("Nordic Hawk", "Nordic Hunter" and "Gulf Scandic") were all delivered during the autumn of 1997 and commenced a seven-year bareboat charters to British Petroleum ("BP") immediately after delivery. The charter was based on the spot market rates at all times; with a minimum guaranteed rate. NAT's bye-laws restricted the company from acquiring additional vessels or concluding other business during the charter to BP. As the charters were close to expiry, an Extraordinary General Meeting was called for in March 2004 to decide if NAT should be wound up, or continue as an active operating company in October 2004. An overwhelming majority of the shareholders voted to continue, and in October 2004 the charter to BP expired, the restricting bye-laws were effectively changed and NAT became an active operating company.

Northland Services spends much of its time in the waters of the northern Pacific. Through its fleet of forklifts, cranes, loaders, trucks, tractors, and shipping platforms, the company transports freight on barges between Seattle and ports in Alaska and Hawaii, as well as along rivers in Alaska. It operates marine terminals in Seattle, Alaska, and Hawaii that handle a variety of freight, including hazardous, oversized, and refrigerated shipments. Major Northland shareholders include the company's management team, founders James Haagen and Dunlap Towing, and Portland, Oregon-based investment firm Endeavour Capital. Northland was founded in 1977.

OceanFreight Inc., through its subsidiaries, provides shipping transportation services. The company specializes in transporting drybulk cargoes, which include iron ore, coal, grain, and other materials, as well as crude oil cargoes through the ownership and operation of drybulk carriers and tanker vessels. As of March 5, 2010, the company owned a fleet of 13 vessels comprising 9 drybulk carriers, including 3 Capesize and 6 Panamax; and 4 crude carrier tankers, including 1 Suezmax and 3 Aframaxes with a combined deadweight tonnage of approximately 1.4 million tons. OceanFreight Inc. was founded in 2006 and is based in Athens, Greece.

Odfjell is a leading company in the global market for transportation and storage of bulk liquid chemicals, acids, edible oils and other special products. Originally set up in 1916, the Company pioneered the development of the parcel tanker trades in the middle/late 1950s and the tank storage business in the late 1960s. Odfjell owns and operates parcel tankers in global and regional trades as well as a network of tank terminals. Our strategy is to continue developing our position as a leading logistics service provider for customers worldwide. We aim at maintaining this position through efficient and safe operations of deep-sea and regional parcel tankers and tank terminals. Scale is needed to offer an efficient trading pattern in a global transportation context, thereby maximizing fleet utilization. Our size also allows us to obtain significant purchasing benefits.

Omega Navigation Enterprises Inc. provides marine transportation services through the ownership and operation of double hull product tankers worldwide. Its product tankers transport refined petroleum products, including gasoline, jet fuel, kerosene, naphtha, gas oil, and heating oil. The company’s fleet includes 12 hull product tankers with a carrying capacity of approximately 680,000 dwt, of which 2 double hull product/chemical tankers with a capacity of 47,000 dwt and 2 double hull product/chemical tankers with a capacity of 37,000 dwt are owned through equal partnership joint ventures with a subsidiary of Glencore International, A.G. Omega Navigation Enterprises Inc. was founded in 2005 and is based in Athens, Greece.

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