Exhibit 8.1
List of Subsidiaries
| Subsidiary | Place of Incorporation | |
| Vantage (BVI) Corporation | British Virgin Islands | |
| Vantage Shipbrokers Pte. Ltd. | Singapore | |
| Vantage Nexus Commercial Brokers Co. L.L.C | Dubai | |
| Hado Pte. Ltd. | Singapore | |
| PJ Marine Singapore Pte. Ltd. | Singapore | |
| Peijun Marine Consultant Co., Ltd. | Hong Kong | |
| PJ Marine Shanghai Co., Ltd. | People’s Republic of China |