MIRA
INFORM REPORT
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Report Date : |
05.04.2007 |
IDENTIFICATION
DETAILS
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Name : |
SEALIFT INC. |
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Registered Office : |
68 West Main Street, Oyster Bay, New York - 11771 |
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Country : |
United States |
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Date of Incorporation : |
30/10/1975 |
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Legal Form : |
Corporation – Private |
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Line of Business : |
An ocean transportation contractor. |
RATING &
COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually correct |
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Litigation : |
Exist |
IDENTIFICATION &
EXECUTIVE SUMMARY
Company Name: SEALIFT INC.
Address: 68 West Main Street
City: OYSTER BAY
State/Province: NEW YORK
Zip Code: 11771
Country: UNITED STATES
Telephone: 516 922-1101
Facsimile: 516 922-1910
Founded (D/M/Y): /
/1975
As of:
Sales / Revenue:
Net Income:
Total Equity:
Number of Employees: 21
Legal Form: Corporation - Private
Website: www.sealiftinc.com
Maj. Shareholder: Mr. Ragner Meyer-Knutsen
Rating Opinion: up to
$50,000
Business Activity: The
Subject is an ocean transportation contractor. They operates as Agents,
operators
and
brokers for foreign and domestic flag vessels shipping military equipment,
grain, and
fuel.
NOTE TO CLIENT
Person Contacted: Mr. David Ramphal, Controller
Mr. David Ramphal provided information in this report.
The name NAME MANICA AFRICA (PTY) LTD. was release and was recognized by
Mr. David Ramphal.
Rating: Credit can be reasonably
accepted up to $50,000.
Amount Requested:
700,000
The amounts requested and advised are expressed in: USD
LEGAL
Legal Form: Corporation
- Private
Since (D/M/Y): 30/10/1975
State/Province of Incorporation: NY
Status:
ACTIVE
Previous Legal Form:
Company is NOT required to publish an annual financial report.
Current Entity Name: SEALIFT
INC.
Initial DOS Filing Date: OCTOBER
30, 1975
County: NASSAU
Jurisdiction: NEW
YORK
Entity Type: DOMESTIC
BUSINESS CORPORATION
Current Entity Status: ACTIVE
Selected Entity Address Information DOS Process (Address to which DOS
will mail process if accepted on behalf of the entity)
SEALIFT INC.
68 W MAIN ST
OYSTER BAY, NEW YORK, 11771-2211
Chairman or Chief
Executive Officer
JOHN RAGGIO
68 W MAIN ST
OYSTER BAY, NEW YORK, 11771-2211
Principal Executive
Office
SEALIFT INC.
68 W MAIN ST
OYSTER BAY, NEW YORK, 11771-2211
Registered Agent
NONE
NOTE: New York State does not issue organizational identification
numbers.
Managers/Key
Personnel
Mr. Ragner Meyer-Knutsen President
Mr. John Raggio
Vice President
Mr. Fred Isaksen
Vice President
Mr. Allen Adler
Vice President
Mr. David Ramphal
Controller
OWNERS
Mr. Ragner Meyer-Knutsen 25.00% Shareholder
Mr. John Raggio 25.00 Shareholder
Mr. Fred Isaksen 25.00 Shareholder
Mr. Allen Adler 25.00 Shareholder
AFFILIATED ENTITIES
SEALIFT HOLDINGS INC.
Affiliated by ownership.
BANKS
HSBC BANK
50 AUDREY AVENUE
OYSTER BAY NY 11771
Telephone: 516 624-6709
Facsimile: 516 624-6893
Account Number:
Account Manager:
The above bank stated that according to their policy, account
information is released only to other banking institutions.
PAYMENT HISTORY
BUSINESS
DATE LAST PAYMENT CREDIT BALANCE CUR 1- 31- 61-
CATEGORY
REPTD SALE TERMS $
$ % 30
60 90 91+ COMMENTS
---------- ----- ----- ------- --------
-------- --- --- --- --- --- --------
AIR TRANS
06-11 00-00 NET 30 2000 900
100 0 0 0
0 CUST 17 YR
ELEC SUPLR 07-03 00-00 NET 30 0
0 0 0
0 0 0 CUST 7 YR
FINCL SVCS 07-03 00-00 NET 0
0 0 0
0 0 0 CUST 3 YR
METAL DIST 07-03 00-00 1/10N30 0 0 0 0 0
0 0
MISC MANUF 07-03 00-00 VARIED 1200
1200 0 0
0 100 0
OFFC SUPPL 07-01 03-11 CREDIT 5000
0 0 0
0 0 0
OFFC SUPPL 06-11 98-05 CREDIT 0
0 0 0
0 0 0 ACCTCLOSED
AIR TRANS
06-10 00-00 0000000 200
100 100 0 0
0 0 CUST 22 YR
BLDG MATRL 04-12 04-12 VARIED 1400
1400 100 0 0
0 0
CELLUL/PAG 05-02 05-01 NET 30 500
0 0 0
0 0 0 CUST 6 YR
ELEC DISTR 04-06 00-00 NET 30 400
400 100 0 0
0 0
ELEC EQUIP 04-05 00-00 NET 30 100
100 0 100 0
0 0
ELEC MFG
04-03 03-12 NET 30 15800 4000
100 0 0 0
0
INDUS SUPL 06-06 00-00 NET 30 0
0 0 0
0 0 0 CUST 2 YR
MANUFCTRNG 05-04 05-04 NET 30 200
200 100 0 0
0 0
PACKAGING
05-09 00-00 NET 30 0 0 0 0 0
0 0 CUST 5 YR
RENTALS
06-10 00-00 NET 10 100 100
0 0 0 42 58
TEMP HELP
05-06 00-00 NET 7 3400 0
0 0 0 0 0
CURRENT QUARTER 7000
900 100 0 0
0 0
Payment Trends
INDUSTRY BUSINESS
BALANCE CUR 1- 31- 61-
DATE
CUR DBT DBT $ % 30
60 90 91+
--------
--- --- --- -------- --- --- --- --- ---
20070300
0 15 0 900 100
0 0
0 0
20070200
0 16 0
900 100 0
0 0 0
20070100
0 14 0 900 100
0 0
0 0
20061200
0 13 0 900 100
0 0
0 0
20061100
0 11 0 0 0 0
0 0 0
20061000
0 13 0 0 0 0
0 0 0
Payment History - Quarterly Averages
BALANCE CUR 1- 31- 61-
QUARTER
YEAR DBT $ % 30 60
90 91+
-------- ------ ---
-------- --- --- --- --- ---
Fourth
2006 0 0 0 0 0
0 0
Third
2006 0 0 0 0 0
0 0
Second
2006 0 0 0 0 0
0 0
First
2006 0 2000 100 0 0 0
0
Fourth
2005 0 1100 100 0 0 0
0
FINANCIAL INFORMATION
Mr. David Ramphal stated the Subject's annual sales are between US $20
and $25 million range. He also said he will seek Mr. Raggio permission before
releasing full financials
HISTORY
The Subject Company was established by Mr. Ragner Meyer-Knutsen, John
Raggio, Fred Isaksen, and Allen Adler in 1975.
In that same year the business was incorporated with the New York
Secretary of State.
CURRENT OPERATIONS
NAICS Code: 48839 Other Support Activities for Water
Transportation
SIC Code: 4499
Number of Employees:
21
Business Activity:
The Subject is an ocean transportation contractor. They operates as
Agents, operators and brokers for foreign and domestic flag vessels shipping
military equipment, grain, and fuel.
The Company owns and operates a fleet of eleven U.S. Flag, ocean-going
ships; most of these vessels operate in its U.S. Flag Liner Service to world
wide destinations.
The sole location is at the above noted address.
Facility Type: Rented.
Facility Size: 25,000 square feet.
PUBLIC RECORD
Public shows the following statements of claims filed against the
Company:
Name Searched: SEALIFT INC
Defendant Counsel: Arnott, Gordon [COR LD NTC]
Hill, Betts & Nash, LLP
One World Financial Center 200 Liberty Street, 26TH Floor
New York, NY, USA 10281
212-839-7000 Fax: (212) 839-7000
Defendant: Sealift, Inc
Sagamore Shipping, Inc
Demand: $ 3,000,000
Filing Date: 3/25/2004
Filing Type: Civil
Plaintiff Counsel: Mellusi, Ralph J [COR LD NTC]
Tabak Mellusi & Shisha
29 Broadway
New York, NY, USA 10006
(212) 962-1590 Fax: (212) 385-0920 Email: Rmellusi@idt.net
Plaintiff: Felskowski, Josef
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Name Searched: SEALIFT INC
Defendant Counsel: Krek, Nenad [COR LD NTC]
Carl Smith Ball LLP American Savings Bank TWR
1001 Bishop Street, Ste 2200
Honolulu, HI, USA 96813
808-523-2500 Fax: 808-523-0842 Email: Nkrek@carlsmith.com
Miyashiro, Duane R [COR LD NTC]
Carlsmit
Defendant: Sealift Inc, in Personam
M/V Bernard F Fisher ON 679514, In Rem
Demand: $ 15,000,000
Filing Date: 4/27/2004
Filing Type: Civil
Plaintiff Counsel: Friedheim, Jay L [COR LD NTC]
Haseko Center 820 Mililani Street, Ste 503
Honolunu, HI, USA 96813
808-545-5454
Plaintiff: Castro, Jhunn
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Name Searched: SEALIFT INC
Debtor Address: SEALIFT INC.
68 WEST MAIN STREET
OYSTER BAY, NY 11771
Secured Parties: ALL FIRST BANK, AS AGENT
Filing Date: 5/21/2003
Filing Number: 0305211034838
Filing Type: TERMINATION
Original Filing Number: 99238996
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Name Searched: SEALIFT INC
Debtor Address: SEALIFT INC.
68 W. MAIN STREET, STE. 201
OYSTER BAY, NY 11771
Secured Parties: MI-JACK PRODUCTS INC.
Filing Date: 8/26/2002
Filing Number: 02197074
Filing Type: INITIAL FILING
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Name Searched: SEALIFT INC
Debtor Address: SEALIFT INC.
68 W. MAIN STREET, STE. 201
OYSTER BAY, NY 11771
Secured Parties: MI-JACK PRODUCTS INC.
Filing Date: 10/22/2003
Filing Number: 0310221758342
Filing Type: TERMINATION
Original Filing Number: 02197074
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Name Searched: SEALIFT INC
Defendant: Stephen L Bennett Vessel M/V Capt Counter
Stephen L Bennett Vessel M/V Capt
Sealift Inc Counter
Sealift Inc
CLAIMANT: Stephen L Bennett Vessel M/V Capt Counter
Sealift Inc Counter
Filing Date: 10/29/2004
Filing Type: Civil
Plaintiff Counsel: Barkan, Steven L [COR LD NTC]
Steven L Barkan, PC
5 Dakota Drive Suite 204
Lake Sucess, NY, USA 11042
(516)358-3688 Fax: 516 354-4731 Email: Sbarkan@pb.net
Plaintiff: Reynolds, Richard
A search of bankruptcy courts revealed no record of a Company by this
name filing for bankruptcy.
GENERAL COMMENTS
The Subject appears to be a well established ocean transportation
contractor, operating since 1975. Public Records shows statements of claims
against the Company, however the current status could not be determined.
Payment history is satisfactory. The Company is considered responsible for
normal business transactions.
RATING
EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
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56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit consideration.
Capability to overcome financial difficulties seems comparatively below
average/normal. |
Small |
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11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
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This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a
composite of weighted scores obtained from each of the major sections of this
report. The assessed factors and their relative weights (as indicated through
%) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)