Naviera Tulum, S.A. de C.V. was founded in 1978 and established as a 100% Mexican corporation. To begin its maritime activities, the company acquired a 55,000 dwt tanker, M/T TULUM, which operated under Mexican flag for 15 years. For the first 10 years, transported crude oil on a worldwide basis; the next 5 years was on hire to PEMEX, dedicated principally to the cabotage trade, to facilitate the growth of the shipping fleet, new Mexican maritime companies were formed and later operated by Grupo Maritimo Tolteca, S.A. de CV. (“GRUPO”), some of which are:

NAVIERA TULA

NAVIERA TLALOC

NAVIERA TOLTECA

NAVIERA TECALI

NAVIERA MARITIMAS DEL GOLFO

Foreign companies were also established to act as commercial agents. “GRUPO” acquired and operated 17 ships. The part of the fleet which sailed under Mexican flag reached a total of 310,000 registered tons.

With time, “GRUPO” operated the fleet on a worldwide basis, generating alliances and contracts with some of the most important oil companies in the world.

Simultaneously, “GRUPO” was instrumental in initiating and sponsoring the Mexican Government’s program for instruction and training of a national merchant marine, known as “Marina Mercante.” A significant number of officers and crew who are still active or involved in administrative positions in the maritime industry were once crew members who served on “GRUPO’s” fleet of ships.

The Mexican Government’s economic policies of the early 1990´s decimated Mexican shipping companies with ships under Mexican flag. Consequently, the privately-owned ocean-going Mexican tonnage all but disappeared.

“GRUPO” was compelled to reflag their tonnage and relocate their operations to Piraeus, Greece. The new management company became Navtul Ship Management, Inc.

In 1996, the Mexican Congress passed legislation (after many years of “discussion”) and the Executive Branch published the new law of Navigation and Maritime Trade. This law’s objective is to support and develop once again the Mexican Merchant Marine. It gives preferential treatment to ships under Mexican flag. Currently, the law for the development of the Mexican Merchant Marine is still on the legislative agenda.

As of a few years ago, NAVIERA TULUM have monitored this progress and, as such, in the last three years, have reactivated their chartering operations and shipowning in Mexico.

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