NAVALMAR (UK) Ltd

"On Monday, United Against Nuclear Iran (UANI) called on shipping firm NAVALMAR UK LTD (NAVALMAR) to immediately stop making port calls in Iran. In a letter sent to NAVALMAR General Director Roy Terence Ware, UANI CEO, Ambassador Mark D. Wallace, wrote:UANI is specifically raising its concerns with the activities of NAVALMAR’s vessel, the BSLE VENUS, which UANI believes is visiting Iranian ports and interacting with port authorities closely affiliated with Tidewater Middle East Co., a U.S. and EU sanctioned entity."… I am again writing on behalf of United Against Nuclear Iran (“UANI”) to express our concerns about the apparent calling of NAVALMAR UK LTD’s (NAVALMAR) vessel BSLE VENUS at Iranian ports operated by entities sanctioned under recent European and U.S. legislation. Specifically, we would like to express our concerns about the apparently ongoing interaction between your vessel BSLE VENUS and port authorities closely affiliated with Tidewater Middle East Co., a U.S. and EU sanctioned Iranian entity.The general cargo vessel BSLE VENUS, of which NAVALMAR is the registered owner, appears to have visited ports reportedly operated by Tidewater Middle East Co. Tidewater Middle East Co. was sanctioned by the EU and U.S. due to its connection to the Iranian Islamic Revolutionary Guard Corps (“IRGC”). The IRGC itself is sanctioned by the EU and is designated as an entity of proliferation concern by the U.S. Thus by continuing its interaction with this Iranian port management authority, NAVALMAR could be in danger of inadvertently violating EU sanctions. Any payments to Tidewater Middle East Co. are prohibited under the aforementioned sanctions. UANI encourages NAVALMAR to consider abandoning its alleged interaction with sanctioned Iranian entities in order to avoid any further reputational damage derived from its ostensible commercial activities there. …"(BusinessWire, "UANI Calls on UK’s NAVALMAR to Cease Port Calls in Iran," 3/4/13) (http://cts.businesswire.com/ct/CT?id=smartlink&url=http%3A%2F%2Fwww.unitedagainstnucleariran.com%2F&esheet=50583880&lan=en-US&anchor=United+Against+Nuclear+Iran+%28UANI%29&index=1&md5=d8820907f1ce6b7da143e57f0aa3e11c) (http://www.businesswire.com/news/home/20130304006807/en/UANI-Calls-UK%E2%80%99s-NAVALMAR-Cease-Port-Calls)

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Subsidiary of Bogazzi Fimpar SpA