To: OWNERS OF THE MV XXXXXXXX

Port of Loading: BILBAO (Spain)

Cargo: 7772,30 tons of Steel Products
BL Nº 1/ONE, Nº 2/TWO, Dated

CHARTERERS: BARNA CONSHIPPING SL

PG. IND. SAN VICENTE, S/N
08755 – CASTELLBISBAL (BARCELONA)

Dear Sirs,

The above named Ship under Charter dated xxxxxxxxxx has loaded a cargo of 7772,30 TONS OF
STEEL PRODUCTS at the port of BILBAO for delivery at SKIKDA.

In consequence of commercial requirement the FOLLOWING INFORMATION ( Liner out ¨ / ¨CIF

Liner out¨….) must be included in the bills of lading (in spite of vessel been fixed ¨fios¨). We request
that you authorise to issue and release the bills of lading accordingly

In consideration of you complying with our request as above we hereby guarantee and undertake to
hold you and/or the Master and/or Agent of the ship free from and fully protected and indemnified
against any and all claims for loss costs damages and/or expenses of whatever description that arise in
consequence of such request and which may be made and/or enforced against you and/or the said
Master or Agent by the Owners of the cargo or by any persons interested or claiming to be interested
in the cargo.

This indemnity shall be construed in accordance with English law and each and every person liable
under this indemnity shall at your request submit to the jurisdiction of the High Court of Justice of
England.

Yours faithfully

Barcelona, 19th June 2009