Liberty Maritime Corp

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Liberty Maritime Corporation is a New York-based commercial shipping company operating U.S. flag and foreign flag vessels, committed to quality, performance, and innovation in international transportation services.

BRIEF HISTORY Liberty Maritime Corporation ("Liberty") was formed in 1988 to operate the five U.S. flag 64,000 DWT bulk carriers and one 90,000 DWT tanker owned by Liberty Shipping Group Limited Partnership ("LSG"). These vessels operate in the preference trades of the United States as well as the subsidized foreign commercial trades. Liberty has developed an international reputation as an outstanding vessel operator and manager. Its staff has diversified expertise in the operation of various types of vessels. Liberty provides quality full service marine management and operational services in an efficient and productive structure. ISM CODE CERTIFICATION In 1997, Liberty was certified to be in compliance with the International Safety Management Code ("ISM Code") by the American Bureau of Shipping. This certification marked the end of a two year program to comply with the ISM Code standards. EXPERIENCE Liberty has successfully operated LSG’s U.S. flag bulk carrier fleet for the last 10 years. As a result of Liberty’s expertise and operational capability, the LSG bulk carriers have set a new standard for operational reliability and success in the preference trades. Liberty maintains its fleet with extraordinary care. This is obvious in all aspects of the Liberty operation, from its outstanding record for dependability and on-time performance to its virtually unblemished insurance record for hull and machinery. All ships under Liberty management are constantly attended in all load ports and in discharge ports as well. This hands-on management presence helps to ensure the continuity of the marine and commercial operation. Three of LSG’s bulk carriers are designed for and equipped to carry containers as well. Liberty has on a number of occasions carried containers from points in Europe and the Middle East back to the United States under the U.S. Military’s preference program. Liberty has other military and liner container experience. In 1989, Liberty created a related entity, Polaris Shipping, Inc., which managed three break bulk/liner vessels on charter to the Military Sealift Command ("MSC") for two years. These vessels were participants in Operation Desert Storm, delivering military equipment and ammunition to U.S. forces deployed in the Persian Gulf. As part of the qualification process required for this transaction, Polaris was granted a secret security clearance by the Department of Defense. The collective experience of the Liberty staff includes managerial and operational experience covering tankers, bulk carriers, OBO’s, tween deckers, container ships, roll on/roll off vessels, as well as ammunition, military sustainment and pre-positioning ships. A number of international banking and financial institutions have utilized Liberty’s services to advise them on the deployment of shipping assets under their control. The Liberty staff provides a unique blend of expert U.S. flag and foreign flag ship operating experience with vessels of varied types and sizes.

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