The Company has been incorporated in British Virgin Islands (BVI). At present 100% of its shares are owned by MPLS B.V. Company holds movable assets, including 27 trucks, 30 trailers, mobile harbor crane Liebherr, 75 containers, 59 portable generators, some loading-unloading machinery and an entity “Kangalassy Shipping Ltd., the owner of a 52, 40” Container carrier Vessel operating in the Caspian Sea (see item 4.2 below). The Company has a representative office in Baku Azerbaijan (see item 4.1 below). Hazting Enterprise Corp. became the member of MPLS BV in October 2013.
HAZTING ENTERPRISES CORP., Representative Office in Baku, Azerbaijan (“Hazting Az”)
The company is registered in the Republic of Azerbaijan. Its legal form is representative office of foreign company. The company leases out trucks & trailers registered in its name to RFG. For the detailed description of suggested intra-group relationships, please see below. The company employs 10 employees. The Company holds the right to operate in Hovsan port (Azerbaijan). On the territory of port entity has container yard. There is also a railway point.
KANGALASSY SHIPPING LTD (“Kangalassy”)
The company is registered in Saint Vincent. It is the owner of a vessel currently operating in the Caspian Sea. It’s a dormant company supposed to have an official operator under bareboat charter agreement responsible for the administration of the vessel’s flag and for ensuring that the ship’s technical specifications and its activities are in compliance with the appropriate laws and regulations (those applying specifically to the maritime industry).
CASPIAN SHIPPING LINES LTD (“CSL”)
The company is not within the MPLS group structure. However, there is supposed to be an official bareboat charter agreement between the company and the owner of the vessel Kangalassy. As mentioned above, CSL shall be responsible for the administration of the vessel’s flag and for ensuring that the ship’s technical specifications and its activities are in compliance with the appropriate laws and regulations (those applying specifically to the maritime industry). All boat crew members (up to 10) have to be employed by CSL.
Hovsan port, Azerbaijan.