Date / Place , 2011.

JOINT ON HIRE BUNKER AND CONDITION SURVEY REPORT

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 Port of Registry Call Sign Gross Tonnage Net Tonnage LOA LBP Depth (MLD) Breadth (MLD) Draft (summer) Vessel type Keel Laid Launched : M/V VESSEL NAME : Georgetown : ZCTU : 47,407 MT : 23,509 MT : 209.99 m : 203.00 m : 22.50 m : 37.00 m : 10.70 m : Wood Ships Carrie TH : DEC 11 1996 : APRIL 02
ND

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 vessels 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 deep Moderate dents/bents: more than and less than 1 deep Heavy dents/bents: more than 1 deep _________________________________________________________

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VESSEL CHECK LIST

SHIPS CERTIFICATES: TITLE International Load Line Certificate Cargo Ship Safety Construction Certificate Cargo Ship Safety Radio Certificate IOPP Certificate IAPP Certificate Certificate of Class ISSUE PLACE AND DATE ANNUAL SURVEY AND PLACE EXPIRE DATE

Tokyo on Feb 21st 2008 Tokyo on Feb 21st 2008 Tokyo on Feb 21st 2008 Tokyo on Feb 21st 2008 Tokyo on Nov 11th 2010 Tokyo on Dec 03rd 2009

Sep 02nd / Vietnam Sep 02nd / Vietnam Sep 02nd / Vietnam Sep 02nd / Vietnam Sep 02nd / Vietnam

Aug 27th Aug 27th Aug 27th Aug 27th Aug 27th Aug 27th

12 12 12 12 12 12

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

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HOLDS CAPACITY:

Holds 1 2 3 4 5 6 TOTAL

Capacity M3 16,347.3 21,964.8 22,753.7 16,994.8 22,192. 5 20,625. 5 120,878.6 M3

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THREE LAST CARGO LOADED ON SHIP:

1st: 2nd: 3rd:

Soyabeans Mills Soyabeans Mills Soyabeans Mills

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FINDINGS
After a careful visual inspection of vessels 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.

Ford Castle deck: mooring station

Ford Castle deck:: bollards

Ford Castle deck: bollards

Ford Castle deck: mooring station

mooring station: mooring station and anchor winches

Ford 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: vessels crane

Main deck: wood ships grab

Main deck: hopper

Main deck: wood ships 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 holds 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. Page 10/16

HOLD No. 01:

Ford and Aft Transversal Bulkheads: Ford Flush Bulkhead plating: Well painted and maintained, presenting slight scratches. Aft Corrugated Bulkhead/Stool Plating: Well painted and maintained, presenting slight scratches. Ford Holds Ladder: First Platform bent. Aft Holds 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.

Ford Bulkhead: well painted/maintained

Ford 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:

Ford and Aft Transversal Bulkheads: Ford 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. Ford Holds Ladder: First Platform bent. Aft Holds 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.

Ford Bulkhead: bed maintained

Ford 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:

Ford and Aft Transversal Bulkheads: Ford Corrugated Bulkhead plating: Well painted and maintained, presenting slight scratches. Aft Corrugated Bulkhead/Stool Plating: Well painted and maintained, presenting slight scratches. Ford Holds Ladder: Slight indented on bottom section. Aft Holds 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.

Ford Bulkhead: well painted/maintained

Aft Bulkhead: well painted/maintained

Port side view

Stbd side view

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HOLD No. 05:

Ford and Aft Transversal Bulkheads: Ford Corrugated Bulkhead plating: Well painted and maintained, presenting slight scratches. Aft Corrugated Bulkhead/Stool Plating: Well painted and maintained, presenting slight scratches. Ford Holds Ladder: Slight indented on bottom section. Aft Holds 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.

Ford 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:

Ford and Aft Transversal Bulkheads: Ford Corrugated Bulkhead plating: Well painted and maintained, presenting slight scratches. Aft Corrugated Bulkhead/Stool Plating: Well painted and maintained, presenting slight scratches. Ford Holds Ladder: Hand rail bent. Aft Holds 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.

Ford 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 vessels 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: LSFO: MGO:

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
F Sounding Tanks NO.1 F.O. T (C) NO.2 F.O. T (C) NO.3 F.O. T (C) NO.4 F.O. T (C) SETT TANK SERV. TANK Ullage 22.90 10.90 24.98 23.26 Gauge Gauge Depth

955.1 MT 109.0 MT 41.9 MT

BUNKER CALCULATIONS: REMAINING QUANTITY OF BUNKER AT THE TIME OF SURVEY:

U E L O I Volume Temp. M3 411.30 10.90 523.30 113.60 14.00 16.20

o

L Density @ 15oC Kg/l (Vac) 0.9904 0.9893 0.9904 0.9696 0.9904 0.9904

VCF TAB' 54B 0.9897 0.9897 0.9897 0.9895 0.9551 0.9341

GSV @ 15oC M3 407.08 10.79 517.93 112.40 13.37 15.13 TOTAL

Weight MT 403.2 10.7 513.0 109.0 13.2 15.0 1064.1

30 30 30 30 80 110

According to verbal information from CE, No. 4 FOT (C) contains LSFO. D E I S E L O I L D.O.T. (S) 3.99 44.60 35 0.8665 D.O. SERV TK Gauge 4.60 42 0.8665

0.9837 0.9780

43.87 4.50 TOTAL

38.0 3.9 41.9

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

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