Marine Transport Corporation (MTC)

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Marine Transport Corporation ("MTC" or "the Company"), formerly named OMI Corp., was established in its present form through a series of transactions, culminating June 17, 1998, through which OMI Corp.: (a) acquired Marine Transport Lines, Inc. in a stock-for-stock exchange (the "Acquisition") and (b)distributed to its shareholders the stock of a newly created Marshall Islands corporation named OMI Corporation ("New OMI") containing OMI Corp.'s international businesses (the "Distribution"). OMI Corp. then changed its name to Marine Transport Corporation.