16. Who is Ultratug that have a 50% share in the Wilson Sons Ultratug Offshore vessel joint venture?

The Ultratug Group is a subsidiary of the Ultramar Group, based in Chile, and it is comprised of the following divisions (for more information, visit www.ultramar.cl):

• Ultratug: Offshore and Towage
• Ultragas: Navigation
• Ultramar: Shipping Agency and Port Operations
• Ultraterra: Inland logistics

The formation of the Wilson, Sons Ultratug Offshore joint venture combined the experience of Ultratug in operating OSVs (Offshore Supply Vessels) such as AHTS vessels and Wilson, Sons expertise in the Brazilian domestic industry. The joint venture will facilitate growth and scale and provides a long term capital structure with which to take advantage of the growth in this sector.