We are an industrial transportation company serving the marine transportation needs of our clients in the markets on which we focus. We serve the shipping markets for grain, vegetable oils, minerals, crude oil, petroleum, and refined petroleum products, as well as the offshore oil platform supply market, through our operations in the following three segments of the marine transportation industry. Our River Business, currently with 592 barges, is the largest owner and operator of river barges and pushboats that transport dry bulk and liquid cargos through the Hidrovia Region of South America, a large area with growing agricultural, forest and mineral related exports. This region is crossed by navigable rivers that flow through Argentina, Bolivia, Brazil, Paraguay and Uruguay to ports serviced by ocean export vessels. Our River Business fleet has an aggregate capacity of approximately 1,023,000 dwt. Our Offshore Supply Business owns and operates vessels that provide critical logistical and transportation services for offshore petroleum exploration and production companies, primarily in the North Sea and the coastal waters of Brazil. Our Offshore Supply Business fleet currently consists of proprietarily designed, technologically advanced platform supply vessels, or PSVs, including six in operation, four under construction in India and two under construction in China with deliveries commencing in the fourth quarter of 2010. Our Ocean Business operates nine oceangoing vessels, including five Product Tankers, which we employ in the South American coastal trade where we have preferential rights and customer relationships, one Capesize vessels, one container vessel, one 43,000 dwt petroleum product tank barge, and one Oceangoing Pushboat. Our Ocean Business fleet has an aggregate capacity of approximately 280,000 dwt. We have a diverse customer base including large and well-known petroleum, agricultural, mining and tour operating companies.

To be a premier provider of marine transportation services in all of the markets in which we operate, and to serve our customer´s needs in a safe and cost efficient way on the basis of innovation and performance, which will ultimately result in profitable growth and financial strength for our company.

Our business strategy is to continue to operate as a diversified marine transportation company with an aim to maximize our growth and profitability while limiting our exposure to the cyclical behavior of individual sectors of the marine transportation industry. We will continually monitor developments in the shipping industry and make charter-related decisions on an individual vessel and segment basis as well as our view of overall market conditions. We will continue to conduct the day-to-day management and administration of our operations in-house and through our subsidiaries. Our subsidiary, Ravenscroft, provides technical ship management for the vessels in our Offshore Supply and Ocean Businesses while our subsidiary, UABL Limited, or UABL, manages our River Business. In addition to servicing our own vessels, Ravenscroft manages vessels owned by third parties.