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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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SCHEDULE 13D
(Rule 13d-101)
Under the Securities Exchange Act of 1934
INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT TO
RULE 13d-1(a) AND AMENDMENTS THERETO FILED PURSUANT TO RULE 13d-2(a)
------------
Marine Transport Corporation
(Name of Issuer)
Common Stock, par value $.50 per share 567 912 10 0
(Title of class of securities) (CUSIP number)
William M. Gutowitz, Esq.
Weil, Gotshal & Manges LLP
767 Fifth Avenue
New York, NY 10153
(212) 310-8000
(Name, address and telephone number of person authorized to
receive notices and communications)
June 18, 1998
(Date of event which requires filing of this statement)
If the filing person has previously filed a statement on Schedule 13G to report
the acquisition which is the subject of this Schedule 13D, and is filing this
schedule because of Rule 13d-1(e), 13d-1(f) or 13d-1(g), check the following box
[_].
Note: Schedules filed in paper format should include a signed original and
five copies of the schedule, including all exhibits. See Rule 13d-7(b) for other
parties to whom copies are to be sent.
(Continued on following pages)
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Page 1 of 15 pages
NYFS10...:\99\45372\0011\1645\SCH7238P.05A
<PAGE>
<TABLE>
<CAPTION>
- -------------------------------------------------------- --------------------------------------
CUSIP No. 567 912 10 0 13D Page 2 of 15
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<S> <C> <C> <C>
1 NAME OF REPORTING PERSON: Harrowston Corporation
I.R.S. IDENTIFICATION NO.
OF ABOVE PERSON:
- ---------------------------------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP: (a) [X]
-
(b) [_]
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3 SEC USE ONLY
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4 SOURCE OF FUNDS: 00
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT [_]
TO ITEM 2(d) OR 2(e):
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6 CITIZENSHIP OR PLACE OF Canada
ORGANIZATION:
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NUMBER OF 7 SOLE VOTING POWER: 0
SHARES
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BENEFICIALLY 8 SHARED VOTING POWER: 429,804
OWNED BY
----------------------------------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER: 0
REPORTING
----------------------------------------------------------------------------------
PERSON WITH 10 SHARED DISPOSITIVE POWER: 429,804
- ---------------------------------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY 429,804
REPORTING PERSON:
- ---------------------------------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN [ ]
SHARES:
- ---------------------------------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11): 6.89%
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14 TYPE OF REPORTING PERSON: CO
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- -------------------------------------------------------- --------------------------------------
CUSIP No. 567 912 10 0 13D Page 3 of 15
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1 NAME OF REPORTING PERSON: Harrowston Inc.
I.R.S. IDENTIFICATION NO.
OF ABOVE PERSON:
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP: (a) [X]
-
(b) [_]
- ---------------------------------------------------------------------------------------------------------
3 SEC USE ONLY
- ---------------------------------------------------------------------------------------------------------
4 SOURCE OF FUNDS: 00
- ---------------------------------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT [_]
TO ITEM 2(d) OR 2(e):
- ---------------------------------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF Ontario, Canada
ORGANIZATION:
- ---------------------------------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER: 0
SHARES
----------------------------------------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER: 429,804
OWNED BY
----------------------------------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER: 0
REPORTING
----------------------------------------------------------------------------------
PERSON WITH 10 SHARED DISPOSITIVE POWER: 429,804
- ---------------------------------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY 429,804
REPORTING PERSON:
- ---------------------------------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN [ ]
SHARES:
- ---------------------------------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11): 6.89%
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14 TYPE OF REPORTING PERSON: CO, HC
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</TABLE>
<PAGE>
Item 1. Security and Issuer.
This Statement relates to shares of common stock, $.50 par
value per share (the "Common Stock"), of Marine Transport
Corporation, formerly known as OMI Corp. (the "Corporation"). The
Corporation's principal executive office is located at 1200 Harbor
Boulevard, Weehawken, New Jersey 07087.
Item 2. Identity and Background.
a. Name of Filing Person:
----------------------
Harrowston Corporation ("Harrowston") and
Harrowston Inc. ("Parent")
b. Address of Principal Business Office:
-------------------------------------
Harrowston Corporation
Suite 3280
P.O. Box 753
181 Bay Street
Toronto, Ontario M5J 2T3
Canada
Harrowston Inc.
Suite 3280
P.O. Box 753
181 Bay Street
Toronto, Ontario M5J 2T3
Canada
c. Citizenship:
------------
Harrowston is a corporation incorporated under the laws of
Canada. Parent is a corporation incorporated under the laws of
the province of Ontario, Canada.
d. Criminal Proceeding:
--------------------
Neither Harrowston nor Parent has been convicted in a criminal
proceeding (excluding traffic violations or similar misdemeanors)
during the past five years.
Page 4 of 15 Pages
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e. Civil Proceeding:
-----------------
Neither Harrowston nor Parent has been a party to a civil
proceeding of a judicial or administrative body of competent
jurisdictions and as a result of such proceeding was or is subject
to a judgment, decree or final order enjoining future violations of,
or prohibiting or mandating activities subject to, federal or state
securities laws or finding any violations with respect to such laws
during the past five years.
f. Executive Officers and Directors:
---------------------------------
Information with respect to the executive officers and
directors of Harrowston and Parent is set forth on Schedules I and
II hereto, respectively.
Item 3. Source and Amount of Funds or Other Consideration.
On June 18, 1998, the Corporation completed its acquisition of
100% of the issued and outstanding common stock of Marine Transport
Lines, Inc. ("MTL") from selling shareholders of MTL ("MTL
Shareholders") in exchange for 17,845,541 shares of the
Corporation's common stock, par value $.50 per share (the "Common
Stock"). Harrowston was one of the MTL Shareholders and sold 535,432
shares of common stock of MTL in exchange for 4,298,036 shares of
the Common Stock. On June 18, 1998, the Corporation effected a 1 for
10 reverse stock split of the Common Stock. After giving effect to
the reverse stock split, Harrowston owns 429,804 shares of the
Common Stock of the Corporation.
Item 4. Purpose of Transaction.
Neither Harrowston nor Parent has any present plan or proposal
as a stockholder which relates to, or would result in any action
with respect to, the matters listed in paragraphs (b) through (j) of
Item 4 of Schedule 13D. In the future, either Harrowston or Parent
may dispose of shares of Common Stock or purchase additional shares
of the Common Stock of the Corporation in the open market or in
private transactions.
Page 5 of 15 Pages
<PAGE>
Item 5. Interest in Securities of the Issuer.
(a) As of August 5, 1998, the Corporation had issued and
outstanding 6,242,605 shares of Common Stock.
Harrowston is the direct, beneficial owner of 429,804 shares
of Common Stock or 6.89% of the outstanding Common Stock (based upon
the number of shares of Common Stock outstanding on August 5, 1989).
Harrowston is a wholly owned subsidiary of Parent. Parent does
not directly own any shares of Common Stock but, by virtue of its
ownership of Harrowston, may be deemed to own beneficially the
shares of Common Stock held by Harrowston.
To the best of Harrowston's and Parent's knowledge, none of
the persons listed on Schedules I and II hereto beneficially owns
any shares of Common Stock.
(b) Harrowston and Parent may be deemed to share (i) the power
to vote, or to direct the vote of, 429,804 shares of Common Stock
and (ii) the power to dispose of, or to direct the disposition of,
429,804 shares of Common Stock.
(c) See Item 3.
(d) None.
(e) Not applicable.
Item 6. Contracts, Arrangements, Understandings or Relationships With
Respect to Securities of the Issuer.
None.
Item 7. Materials to be Filed as Exhibits.
Exhibit A - Acquisition Agreement dated as of September 15, 1997, by
and among OMI Corp., Universal Bulk Carriers, Inc., Marine Transport
Lines,
Page 6 of 15 Pages
<PAGE>
Inc. and the persons set forth on Exhibit A attached thereto,
incorporated by reference to Exhibit 10.13 to the Form 10-Q Report
of the Company for the quarterly period ended September 30, 1997
(File No. 000-11573).
Exhibit B - A copy of a written agreement relating to the filing of
a joint statement as required by Rule 13d-1(f) under the Securities
Exchange Act of 1934, as amended.
Page 7 of 15 Pages
<PAGE>
SIGNATURE
---------
After reasonable inquiry and to the best of his or her knowledge and
belief, each of the undersigned certifies that the information set forth in this
statement is true, complete and correct.
Date: August 12, 1998
Harrowston Corporation
By: /s/ David Sutin
-----------------------------
Name: David Sutin
Title: Executive Vice President
By: /s/ Deborah Barrett
-----------------------------
Name: Deborah Barrett
Title: Senior Vice President and
Cheif Financial Officer
Harrowston Inc.
By: /s/ David Sutin
-----------------------------
Name: David Sutin
Title: Executive Vice President
By: /s/ Deborah Barrett
-----------------------------
Name: Deborah Barrett
Title: Senior Vice President and
Cheif Financial Officer
Page 8 of 15 Pages
<PAGE>
EXHIBIT INDEX
-------------
Exhibit Page No.
- ------- --------
A. Acquisition Agreement dated as of September 15,
1997, by and among OMI Corp., Universal Bulk
Carriers, Inc., Marine Transport Lines, Inc.
and the persons set forth on Exhibit A attached
thereto, incorporated by reference to Exhibit
10.13 to the Form 10-Q Report of the Corporation
for the quarterly period ended September 30, 1997
(File No. 000-11573).
B.
Agreement relating to the filing of a joint
statement as required by Rule 14d-1(f) under
the Securities Exchange Act of 1934, as amended.
Page 9 of 15 Pages
<PAGE>
SCHEDULE I
Harrowston Corporation
----------------------
Executive Officers and Directors
Name and Address Position and Principal Occupation
- ---------------- ---------------------------------
Brent Belzberg Director, President and Chief Executive
c/o Harrowston Corporation Officer of the Harrowston
Suite 3280
P.O. Box 753
181 Bay Street
Toronto, Ontario M5J 2T3 Canada
David Sutin Director and Executive Vice President
c/o Harrowston Corporation of Harrowston
Suite 3280
P.O. Box 753
181 Bay Street
Toronto, Ontario M5J 2T3 Canada
Deborah Barrett Senior Vice President, Finance of
c/o Harrowston Corporation Harrowston
Suite 3280
P.O. Box 753
181 Bay Street
Toronto, Ontario M5J 2T3 Canada
Peter Zissis Controller of Harrowston
c/o Harrowston Corporation
Suite 3280
P.O. Box 753
181 Bay Street
Toronto, Ontario M5J 2T3 Canada
Page 10 of 15 Pages
<PAGE>
Judith George Corporate Secretary of Harrowston
c/o Harrowston Corporation
Suite 3280
P.O. Box 753
181 Bay Street
Toronto, Ontario M5J 2T3 Canada
None of the individuals listed above in the last five years (i) has
been convicted in a criminal proceeding or (ii) was party to a civil proceeding
of a judicial or administrative body of competent jurisdiction and as a result
of such proceeding was or is subject to a judgment, decree or final order
enjoining future violations of, or prohibiting or mandating activities subject
to, Federal or State securities laws or finding any violation with respect to
such laws. Each of the individuals listed above is a citizen of Canada.
Page 11 of 15 Pages
<PAGE>
SCHEDULE II
HARROWSTON INC.
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Executive Officers and Directors
Name and Address Position and Principal Occupation
- ---------------- ---------------------------------
Brent Belzberg Director, President and Chief
c/o Harrowston Corporation Executive Officer of Parent
Suite 3280
P.O. Box 753
181 Bay Street
Toronto, Ontario M5J 2T3, Canada
Brian Flood Director of Parent; Mr. Flood is a
c/o Harrowston Corporation partner in the law firm of Tory Tory
Suite 3280 Deslauriers & Binnington
P.O. Box 753
181 Bay Street
Toronto, Ontario M5J 2T3, Canada
James Nicol Director of Parent; Mr. Nicol is the
c/o Harrowston Corporation Vice Chairman of
Suite 3280 Magna International Inc.
P.O. Box 753
181 Bay Street
Toronto, Ontario M5J 2T3, Canada
Richard Brock Director of Parent; Mr. Brock is the
c/o Harrowston Corporation Chairman and Chief Executive Officer of
Suite 3280 S-S Technologies Inc.
P.O. Box 753
181 Bay Street
Toronto, Ontario M5J 2T3, Canada
Page 12 of 15 Pages
<PAGE>
Louis Hollander Director of Parent
c/o Harrowston Corporation
Suite 3280
P.O. Box 753
181 Bay Street
Toronto, Ontario M5J 2T3, Canada
Brian Walsh Director of Parent; Mr. Walsh is a
c/o Harrowston Corporation partner in Vertical Capital Management
Suite 3280
P.O. Box 753
181 Bay Street
Toronto, Ontario M5J 2T3, Canada
Ronald Daniels Director of Parent; Mr. Daniels is Dean
c/o Harrowston Corporation of the Faculty of Law at the
Suite 3280 University of Toronto
P.O. Box 753
181 Bay Street
Toronto, Ontario M5J 2T3, Canada
David Mindell Director of Parent; Mr. Mindell is
c/o Harrowston Corporation President of
Suite 3280 Western Corporate Enterprises Inc.
P.O. Box 753
181 Bay Street
Toronto, Ontario M5J 2T3, Canada
Charles Winograd Director of Parent; Mr. Winograd is
c/o Harrowston Corporation Deputy Chairman of
Suite 3280 RBC Dominion Securities Ltd.
P.O. Box 753
181 Bay Street
Toronto, Ontario M5J 2T3, Canada
Page 13 of 15 Pages
<PAGE>
David Sutin Executive Vice President of Parent
c/o Harrowston Inc.
Suite 3280
P.O. Box 753
181 Bay Street
Toronto, Ontario M5J 2T3, Canada
Scott Shelly Executive Vice President of Parent
c/o Harrowston Inc.
Suite 3280
P.O. Box 753
181 Bay Street
Toronto, Ontario M5J 2T3, Canada
Deborah Barrett Senior Vice President and Chief
c/o Harrowston Inc. Financial Officer of Parent
Suite 3280
P.O. Box 753
181 Bay Street
Toronto, Ontario M5J 2T3, Canada
Judith George Corporate Secretary of Parent
c/o Harrowston Inc.
Suite 3280
P.O. Box 753
181 Bay Street
Toronto, Ontario M5J 2T3, Canada
None of the individuals listed above in the last five years (i) has
been convicted in a criminal proceeding or (ii) was party to a civil proceeding
of a judicial or administrative body of competent jurisdiction and as a result
of such proceeding was or is subject to a judgment, decree or final order
enjoining future violations of, or prohibiting or mandating activities subject
to, Federal or State securities laws or finding any violation with respect to
such laws. Each of the individuals listed above is a citizen of Canada.
Page 14 of 15 Pages
<PAGE>
EXHIBIT B
AGREEMENT
This will confirm the agreement by and between the undersigned that
the Schedule 13D filed on or about this date with respect to the beneficial
ownership of the undersigned of shares of common stock of Marine Transport
Corporation is being filed, and all further amendments thereto will be filed,
jointly on behalf of each of the entities named below for all purposes specified
in such Schedule 13D, as so amended. This Agreement may be executed on two or
more counterparts, each of which shall be deemed an original, but all of which
together shall constitute one and the same instrument.
Dated: August 12, 1998
Harrowston Corporation
By: /s/ David Sutin
-----------------------------
Name: David Sutin
Title: Executive Vice President
By: /s/ Deborah Barrett
-----------------------------
Name: Deborah Barrett
Title: Senior Vice President and
Cheif Financial Officer
Harrowston Inc.
By: /s/ David Sutin
-----------------------------
Name: David Sutin
Title: Executive Vice President
By: /s/ Deborah Barrett
-----------------------------
Name: Deborah Barrett
Title: Senior Vice President and
Cheif Financial Officer
Page 15 of 15 Pages
