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Date / Place , 2011.

J O I N T O N H I R E B U N K E R A N D C O N D I T I O N S U R V E Y R E P O R T

M/V “VESSEL NAME”

IMO 9224037

THIS IS TO CERTIFY that the undersigned officially appointed marine surveyor did, by the request of the agents Messrs. CAMPANY NAME acting on behalf of

MESSRS. CHARTERERS NAME, AS CHARTERERS AND

MESSRS. OWNERS NAME., AS OWNERS

Attend on board the Cayman Islands flagship:

Ship's Name

: M/V “ VESSEL NAME ”

Port of Registry

: Georgetown

Call Sign

: ZCTU

Gross Tonnage

: 47,407 MT

Net Tonnage

: 23,509 MT

LOA

: 209.99 m

LBP

: 203.00 m

Depth (MLD)

: 22.50 m

Breadth (MLD)

: 37.00 m

Draft (summer)

: 10.70 m

Vessel type : Wood Ships Carrie Keel Laid

: DEC 11TH 1996

Launched

: APRIL 02ND 1997

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On the 19th day of April, 2011, the vessel then moored by Port Side at PORT NAME– , Brazil for the purpose of carrying out an Joint on-hire survey

to inspect all fuel oil and diesel oil tanks and calculate

the quantity of bunker remaining on board at the time of Bunker Survey

and

to ascertain the physical condition of vessel’s weather deck and cargo compartments, etc.

At the time vessel WAS DELIVERED FROM MESSRS. OWNERS NAME AS OWNERS TO MESSRS. CHARTERERS NAME ON DLOSP MONTOIR-FRANCE ON MARCH 07TH 2011 AT 20:42 LT OR 19:42 UTC, as per terms, conditions, provisions and exceptions of the governing Charter-Party.

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GENERAL NOTES:

All shell frames, brackets, railing sections, etc. are counted and named from fore to aft, unless otherwise specified. The casings, ladder sections, rods of railings, strakes of plating, etc. are counted and named from bottom to top unless otherwise specified.

The tank top strakes, the corrugations, etc. are counted and named from port to starboard, unless otherwise specified.

Minor damages such as nicks, cuts and gouges on shell frames / brackets, bulkhead plates, etc. are not enumerated in this report.

Slight dents/bents: less than ½” deep Moderate dents/bents: more than ½” and less than 1” deep Heavy dents/bents: more than 1” deep

_________________________________________________________

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VESSEL CHECK LIST SHIP’S CERTIFICATES:

TITLE ISSUE PLACE AND DATE ANNUAL SURVEY AND PLACE EXPIRE DATE

International Load Line Certificate Tokyo on Feb 21st 2008 Sep 02nd / Vietnam Aug 27th 12 Cargo Ship Safety Construction Certificate Tokyo on Feb 21st 2008 Sep 02nd / Vietnam Aug 27th 12 Cargo Ship Safety Radio Certificate Tokyo on Feb 21st 2008 Sep 02nd / Vietnam Aug 27th 12 IOPP Certificate Tokyo on Feb 21st 2008 Sep 02nd / Vietnam Aug 27th 12 IAPP Certificate Tokyo on Nov 11th 2010 - Aug 27th 12 Certificate of Class Tokyo on Dec 03rd 2009 Sep 02nd / Vietnam Aug 27th 12

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MACHINERY: Main Engine : Sulzer-6rta52 Normal / Max. : 9,435 ps X 118.4 rpm / 11100 ps X 125 rpm. SPEED (SERVICE) : 12.7 Kts. Loaded / 13.70 Kts. Ballast Propeller : No. Of Blades 04, Diameter 5.850M

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HOLDS CAPACITY:

Holds Capacity M3 1 16,347.3 2 21,964.8 3 22,753.7 4 16,994.8 5 22,192. 5 6 20,625. 5

TOTAL 120,878.6 M3

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THREE LAST CARGO LOADED ON SHIP: 1st: Soyabeans Mills 2nd: Soyabeans Mills 3rd: Soyabeans Mills

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FINDINGS

After a careful visual inspection of vessel’s installations, equipment etc. the following was noticed:

WEATHER DECK Fore Castle Deck: • Windlass, winches, bollards, mooring ropes/wires, fairleaders, anchors and anchors chains in apparent good

order. • Forecastle access hatch, bitts and windlass platforms painted marked with different colours, unfortunately

winches without effective hazard markings. • Rat guards in use and properly fitted. • Mooring lines stored in direct contact to deck plating.

For’d Castle deck: mooring station For’d Castle deck:: bollards For’d Castle deck: bollards

For’d Castle deck: mooring station mooring station: mooring station and anchor

winches For’d Castle deck: mooring station

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Main Deck to Port Side/Starboard Side: • Deck plating, bulwarks, fittings and piping were visually inspected, they were found in rusty condition; • Bunker sounding pipes well surveyed without obstruction; • Deck guardrail waved generally; • Conveyor belt, cargo hoppers and Cargo loading/discharging in apparent good order.

Main deck port: general view Main deck stbd: general view Main deck: vessel’s crane

Main deck: wood ship’s grab Main deck: hopper Main deck: wood ship’s grab

Main deck: hopper Main deck: conveyor belt system Main deck: hold No. 02: external hatch

coaming

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Poop Deck: • Windlass, winches, bollards, mooring ropes/wires, fairleaders, in apparent good order. • Poop deck access hatch, bitts and windlass platforms painted with different colours, unfortunately winches

without effective hazard markings. • Rat guards were found in use and properly fitted. • Mooring lines stored in direct contact to deck plating.

Poop deck stbd: mooring station Poop deck port: mooring station

Poop deck: windlass view Poop deck: mooring station – windlass detail

See next page for hold’s condition survey: Note: At the time of our inspection, cargo hold No. 04 was found in ballast condition, therefore was not inspected for on hire survey.

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HOLD No. 01:

For’d and Aft Transversal Bulkheads: For’d Flush Bulkhead plating: Well painted and maintained, presenting slight scratches. Aft Corrugated Bulkhead/Stool Plating: Well painted and maintained, presenting slight scratches. For’d Hold’s Ladder: First Platform bent. Aft Hold’s Ladder: Slight indented on bottom section. Pipes: No remarkable damage noticed. Port side and Starboard side: Port Side hopers, side plating and shell frames: Well painted and maintained, presenting scratches. Stbd Side hopers, side plating and shell frames: Well painted and maintained, presenting scratches. Double Bottom Tank Top Plating: Tank top strakes plating rusty with brown rust colour generally, dented and waved toward floors and intercostals. Hatch Coaming: Inner hatch plating slightly scratched and well maintained. Hatch coaming compression bar in good order. Hatch drains channel and trackway showing spots of corrosion. Hatch Covers: Hatch covers top panels without damage. Hatch covers underside plating without damages. Gear open/close system and rubber packing case with spots of rust and corrosion. Packing rubber presenting imprinting marks.

For’d Bulkhead: well painted/maintained For’d ladder: first platform bent Aft Bulkhead: well painted/maintained

Port side view Star board side view Tank top Plating: Brown rust colour

Hatch cover wheel Drain channel/trackway spots of corrosion. Hatch Packing rubber with imprinting marks

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HOLD No. 02: For’d and Aft Transversal Bulkheads: For’d Corrugated Bulkhead/Stool: showing bed maintenance, plating rusted, presenting scratches and rust stains. Aft Corrugated Bulkhead/Stool: showing bed maintenance, plating rusted, presenting scratches and rust stains. For’d Hold’s Ladder: First Platform bent. Aft Hold’s Ladder: Slight indented on bottom section. Pipes: No remarkable damage noticed. Port side and Starboard side: Port Side plating, upper hopper, shell frames: scratched/rust spotted. Lower hopper scratched and brown rusted. Stbd Side plating, upper hopper, shell frames: scratched/rust spotted. Lower hopper scratched and brown rusted. Double Bottom Tank Top Plating: Tank top strakes plating rusty with brown rust colour generally, dented and waved toward floors and intercostals. Hatch Coaming: Inner hatch plating slightly scratched and well maintained. Hatch coaming compression bar in good order. Hatch drains channel and trackway showing spots of corrosion. Hatch Covers: Hatch covers top panels without damage. Hatch covers underside panels rust and corrosion spotted. Gear open/close system and rubber packing case with spots of rust and corrosion. Packing rubber presenting imprinting marks.

For’d Bulkhead: bed maintained For’d ladder: bent on bottom section Aft Bulkhead: bed maintained

Port side view Star board side view Tank top Plating: Brown rust colour

Drain channel/trackway spots of corrosion Hatch cover wheel Hatch covers underside panels/corrosion

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HOLD No. 03: For’d and Aft Transversal Bulkheads: For’d Corrugated Bulkhead plating: Well painted and maintained, presenting slight scratches. Aft Corrugated Bulkhead/Stool Plating: Well painted and maintained, presenting slight scratches. For’d Hold’s Ladder: Slight indented on bottom section. Aft Hold’s Ladder: Slight indented on bottom section. Pipes: No remarkable damage noticed. Port side and Starboard side: Port Side plating, upper hopper, shell frames: scratched/rust spotted. Lower hopper well painted. Stbd Side plating, upper hopper, shell frames: scratched/rust spotted. Lower hopper well painted. Double Bottom Tank Top Plating: Tank top strakes plating rusty with brown rust colour generally, dented and waved toward floors and intercostals. Hatch Coaming: Inner hatch plating slightly scratched and well maintained. Hatch coaming compression bar in good order. Hatch drains channel and trackway showing spots of corrosion. Hatch Covers: Hatch covers top panels without damage. Hatch covers underside plating without damages. Gear open/close system and rubber packing case with spots of rust and corrosion. Packing rubber presenting imprinting marks.

For’d Bulkhead: well painted/maintained Aft Bulkhead: well painted/maintained

Port side view Stbd side view

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HOLD No. 05: For’d and Aft Transversal Bulkheads: For’d Corrugated Bulkhead plating: Well painted and maintained, presenting slight scratches. Aft Corrugated Bulkhead/Stool Plating: Well painted and maintained, presenting slight scratches. For’d Hold’s Ladder: Slight indented on bottom section. Aft Hold’s Ladder: Slight indented on bottom section. Pipes: No remarkable damage noticed. Port side and Starboard side: Port Side plating, upper hopper, shell frames: scratched/rust spotted. Lower hopper well painted. Stbd Side plating, upper hopper, shell frames: scratched/rust spotted. Lower hopper well painted. Double Bottom Tank Top Plating: Tank top strakes plating rusty with brown rust colour generally, dented and waved toward floors and intercostals. Hatch Coaming: Inner hatch plating slightly scratched and well maintained. Hatch coaming compression bar in good order. Hatch drains channel and trackway showing spots of corrosion. Hatch Covers: Hatch covers top panels without damage. Hatch covers underside panels rust and corrosion spotted. Gear open/close system and rubber packing case with spots of rust and corrosion. Packing rubber presenting imprinting marks.

For’d Bulkhead: well maintained Aft Bulkhead: well maintained Port side view

Star board side view Tank top Plating: Brown rust colour Tank top Plating: Brown rust colour

Hatch cover wheel Drain channel/trackway spots of corrosion Hatch Packing rubber with imprinting marks

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HOLD No. 06: For’d and Aft Transversal Bulkheads: For’d Corrugated Bulkhead plating: Well painted and maintained, presenting slight scratches. Aft Corrugated Bulkhead/Stool Plating: Well painted and maintained, presenting slight scratches. For’d Hold’s Ladder: Hand rail bent. Aft Hold’s Ladder: Slight indented on bottom section. Pipes: No remarkable damage noticed. Port side and Starboard side: Port Side plating, upper hopper, shell frames: scratched/rust spotted. Lower hopper well painted. Stbd Side plating, upper hopper, shell frames: scratched/rust spotted. Lower hopper well painted. Double Bottom Tank Top Plating: Tank top strakes plating rusty with brown rust colour generally dented and waved toward floors and intercostals. Hatch Coaming: Inner hatch plating slightly scratched and well maintained. Hatch coaming compression bar in good order. Hatch drains channel and trackway showing spots of corrosion. Hatch Covers: Hatch covers top panels without damage. Hatch covers underside panels rust and corrosion spotted. Gear open/close system and rubber packing case with spots of rust and corrosion. Packing rubber presenting imprinting marks.

For’d Bulkhead: well maintained Aft Bulkhead: well maintained Aft Bulkhead: well maintained

Port side view Star board side view Tank top Plating: Brown rust colour

Hatch cover wheel Drain channel/trackway spots of corrosion Hatch Packing rubber with imprinting marks

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DETERMINATION OF QUANTITIES OF HEAVY FUEL AND DIESEL OIL:

According to our On Hire Bunker Survey carried out on M/V “VESSEL NAMER”, Port of Register, GEORGETOWN;

47,407 Gross Tonnage; made on behalf of Messrs. MESSRS. COMPANY NAME, after having taken temperature

and soundings of all bunker tanks, compared same with the tank calibration scales, the required calculations were

made together with the vessel’s chief engineer in attendance, all concerned parties agreed that the bunkers

quantity on board the vessel at the time of bunker survey amount to the following :

HSFO: 955.1 MT LSFO: 109.0 MT MGO: 41.9 MT

BUNKER CALCULATIONS: REMAINING QUANTITY OF BUNKER AT THE TIME OF SURVEY: Day and time of Bunker Survey: April 20th, 2011, at 00:30 UTC Frd 05.74 m Aft: 07.33 - Trim: 1.59 m by stern. Heel = 0.0

Volume Temp. Density VCF GSV Weight@ 15oC @ 15oC

Kg/l (Vac) M3

NO.1 F.O. T (C) 22.90 411.30 30 0.9904 0.9897 407.08 403.2NO.2 F.O. T (C) 10.90 10.90 30 0.9893 0.9897 10.79 10.7NO.3 F.O. T (C) 24.98 523.30 30 0.9904 0.9897 517.93 513.0NO.4 F.O. T (C) 23.26 113.60 30 0.9696 0.9895 112.40 109.0SETT TANK Gauge 14.00 80 0.9904 0.9551 13.37 13.2SERV. TANK Gauge 16.20 110 0.9904 0.9341 15.13 15.0

TOTAL 1064.1According to verbal information from CE, No. 4 FOT (C) contains LSFO.

D.O.T. (S) 3.99 44.60 35 0.8665 0.9837 43.87 38.0D.O. SERV TK Gauge 4.60 42 0.8665 0.9780 4.50 3.9

TOTAL 41.9

TAB' 54B MT

D E I S E L O I L

F U E L O I L

TanksDepth M3 oC

Sounding

Ullage

Time Log: This On ire Bunker and Condition Survey was carried out by two visits on boar vessel: Fist visit on April 19th 2011, from 21:30 LT up to 23:40 LT. Second visit on April 20th 2011, from 07:00 LT up to 10:00 LT.

The contents of this on-hire survey report - the condition of the weather deck and cargo compartments as well as the quantities of bunkers being on board at time of delivery - are given to the best of our knowledge, true and correct and is issued without prejudice to

the rights of whom it may concern.

Surveyor