FIXTURE NOTE

No.: HML/PTAPM/2009/01 Dated: 24TH JUNE, 2009 This agreement made in (MALAYSIA) 24TH JUNE, 2009 This Agreement made by and between On the Terms and Conditions State Below: Recommended : On THE BALTIC AND INTERNATIONAL MARITIME COUNCIL UNIFORM Conferences Uniform General Chapter (as revised 1992 AND 1973, Code Name GENCON / 1993 SV)

A. OWNER / PLACE / BUSINESS:

B. CHARTER / PLACE / BUSINESS: TWO PARTIES AGREED TO SIGN THE AGREEMENT WITH ALL OTHER DETAILS AS FOLLOWING: 1. ALL NEGOTIATIONS AND EVENTUAL FIXTURE TO BE KEPT STRICTLY CONFIDENTIAL AND PRIVATE. 2. PERFORMING VESSEL 3. OWRS GTEE THAT VSL IS FULLY COVERED / ENTERED INTO THE CLASS, P&ICLUB, HULL AND MACHINERY INSURANCE AND ISM CERTIFICATES ALWAYS AND VESSEL TO BE ACCEPTABLE TO RELEVANT AUTHORITIES AND CONFORMS WITH LAWS, REGULATIONS IN FORCE AT OR APPLICABLE TO THE RESP LOADING AND DISCHARGING PORTS. 4. CARGO & QTY SEA OR RIVER SAND/ SEA SAND FORM IN BULK 15,000 MT 5PCT MOLCO 5. LOAD PORT - 1 SP 1SB THUAN AN ANCHORAGE, 6. DISPORT - 1 SP 1SB ANCHORAGE, SINGAPORE / ANGCHORAGE, SINGAPORE 7. FRT USD 9.5PMT CONTRACT PERIOD: FOR 2 CONSECUTIVE VOYAGES 8. LOADING/ DISCHARGING RATE : THE TIME LOADING : 6.50 DAYS/ THE TIME DISCHARGING : 06 TO 10 DAYS 9. LAYCAN 10.NOR TO BE TENDERED ANY TIME DAY OR NIGHT UPON VSL ARRIVED PILOT STATION.. 11.LAYTIME FOR LOADING AND DISCH TO COMMENCE 12 HRS AFTER TENDERING NOR ON ARRIVAL BENDS. IF NOR IS TENDERED AFTER 1700 HRS TIME TO COMMENCE AT 0800 HOURS NEXT DAY EIU. ANY DELAY IN COMMENCEMENT OF CARGO OPERATIONS DUE TO REQUIREMENT OF AUTHORITIES, CUSTOMS, IMMIGRATION, QUARANTINE, ETC TIME RELATED TO VESSELS DELAY NOT TO COUNT BEND. LAYTIME SHALL CEASE TO COUNT ON COMPLETION OF LOADING / DISCHARGE OPERATION AT BOTH ENDS. LAYTIME TO BE FULLY REVERSIBLE BETWEEN LOADING AND DISCHARGING PORTS.. 12. DEMMURAGE / DESPATCH - USD 5,000 PDPR / HALF DESPATCH. 13. FREIGHT PAYMENT: 10% OCEAN FREIGHT WILL BE PAID IN ADVANCE AFTER FIXTURE NOTE SIGNED AND STAMPPED BETWEEN TWO PARTIES AND 90% FRT PAYABLE IN US DOLLARS TO OWNERS NOMINATED BANK ACCT WHEN VESSEL ARRIVAL SINGAPORE PORT (BEFORE DISCHARGING) WITHIN 3 B/DAYS AFTER COMPLETD LOADNG WITH AWAYS BBB. IN CASE CHTRS REQUIRE FREIGHT PREPAID BS/L SAME TO BE ISSUED UPON RECEIPT OF SWIFT COPY FROM BANK CONFIRMING PAYMENT OF FREIGHT. 14. FREIGHT DEEMED EARNED UPON COMPLETION OF LOADING VSL AND/OR CARGO LOST OR NOT LOST. 15. OAP IF ANY TO BE FOR CHRTS ACCT. IF CARGO TO BE TRNASFERED ONTO BARGES, ALL BARGE TO HAVE STRONG FENDERS, ALL CHARGE TO BE CHRTR ACCOUNT. 16. CARGO TO BE DISCHGD AND RELEASED TO THE RCVRS AGAINST CHARTERERS LETTER OF INDEMNITYIF ORIGINAL BS/L ARE NOT AVAILABLE AT DISCH PORT. 17. CHRTS AGENT AT BENDS. LOAD PORT D/A TO BE CHRTS ACCOUNT AND DISCH PORT D/A TO BE OWNERS ACCOUNT 18. VSLS HOLDS TO BE SWEPT, CLEANED AND DRIED UP BEFORE COMMENCE LDG CARGO AND TO PASS HOLD INSPECTION BY SHIPPERS/CHRTS AT LOADPORT. IF THE VSL FAILS TO PASS HOLD INSPECTION, LAYTIME TO COUNT ONLY AFTER PASSING SAME. IF VSL FOUND RUSTED AND IF ANY COATINGS REQD, THE SAME TO BE CARRIED OUT BEFORE LDG OF CARGO AND DELAY IF ANY NOT TO COUNT. 19. ALL TAXES / DUES ON CARGO TO BE FOR CHARTERERS ACCT BENDS.

20. ALL TAXES / DUES ON VSL / FLG / FRT TO BE FOR OWNERS ACCT BENDS. 21. LIGHTERAGE/LIGHTERING IF ANY TBF CHRTS ACCT. 22. SHIFTING IF ANY TBF OWNS ACCT. 23. VSL GEAR TO BE IN WORKING ORDER AND IF ANY GEARS INOPERATIVE, TIME NOT TO COUNT IN PRO-RATA, IN CASE VSL GEAR BROKEN DOWN, CHRTS HAVE TO ARRANGE SHORE CRANE BUT TO BE FOR OWNS ACCT. 24. B/L QUANTITY TO BE ASCERTAINED BY INTAKE JOINT DRAFT SHIPPER/ RECEIVERS SURVEY AT LOAD PORT/DISPORT. 25. DEADFREIGHT: IF VSL ARRIVES AT LDG PORT THAT CHTRS HAVE NO OR NOT ENOUGH CARGO TO LOAD, FAIL TO LOAD CARGO AS AGREED, CHTRS MUST PAY DEAD FREIGHT TO OWNS AS CL 7&13 ABV. 26. STOPPAGES CAUSED BY FORCE MAJEURE NOT TO COUNT. 27. ARBITRATION IN SINGAPORE ENGLISH LAW TO APPLY 28. GENERAL AVERAGE IF ANY TO BE SETTLED ACCORDING TO YORK-ANTWERP RULES. 29. OTHERWISE GENCON 94. 30. COMMISSION 2,50% PAYABLE BY OWNS AFTER 5DAYS OF BANKS WORKING DAY OF FIXTURE NOTE SIGNED AND STAMPPED. 31. THIS CONTRACT WILL BE VALUED BY FAX 32. IF CANCELLATION DATE, IF SHIPMENT IS CANCELLED, THE PENALTY TO BE PAID BY CANCEL PARTY CHRTS BSS USD 50,000. OWNER CHARTERER