Exhibit 21.1

 

Subsidiaries of the Company

 

The following is a list of the Company’s significant subsidiaries as of March     , 2010.

 

Name of Significant
Subsidiary

 

Jurisdiction of
Incorporation

 

Portion of
Ownership
Interest

 

 

 

 

 

 

 

 

 

Baltic Bear Limited

 

Marshall Islands

 

100

%

 

Baltic Cougar Limited

 

Marshall Islands

 

100

%

 

Baltic Jaguar Limited

 

Marshall Islands

 

100

%

 

Baltic Leopard Limited

 

Marshall Islands

 

100

%

 

Baltic Panther Limited

 

Marshall Islands

 

100

%

 

Baltic Wolf Limited

 

Marshall Islands

 

100

%