PLEASED TO RECAP 

CLEAN FIXTURE AS FOLLOWS:

ALL SUBJECTS HAVE BEEN LIFTED TIMELY.

ALL NEGOTIATIONS AND FIXTURE TO BE KEPT STRICTLY P AND C BETWEEN

PARTIES HERETO. RECAP AND ALL INFO ON THIS TRADE IS STRICTLY
CONFIDENTIAL AND NOT TO BE REVEALED OR COMPROMISED BY ANY PARTY
INVOLVED IN THIS TRADE. IT IS AGREED THOUGH THAT THE IN CASE OF ANY
DISPUTE INVOLVING BILL OF LADING HOLDER, CHARTERERS ARE ENTITLED TO
PROVIDE THEM WITH A COPY OF THE CP.

++

OWNERS:
IF MV SIKANIA USED AS PERFORMER
OWNERS (C/P COUNTERPARTY) TO BE:
AS HEAD OWNERS (NO CP CHAIN)
AETHALIA MARITIME S.A.
80 BROAD STREET
MONROVIA, LIBERIA
C/O
Sogemm SAM (as agents only)

and

IF SUBSTITUTE VESSEL NOMINATED,

DISPONENT OWNERS TO BE AS FOLLOWS:
KONDOT S.A.
Hunkins Waterfront Plaza, Suite 556
Main Street
Charlestown, Nevis

C/O
Sogemm SAM (as agents only)
Europa Residence - 2nd floor
Place des Moulins, 98000 Monaco
email: chartering@sogem.mc
PIC: Stefano Pallanca
tel: +377 9330 5931
fax: +377 9330 5932

1. VESSEL:
===========
MV SIKANIA - OR OWNS' SUB
-CALL SIGN : D5KI7
-IMO NO.: 9233387
-BULK CARRIER
-BUILT: IMABARI 2001
-FLAG: LIBERIA
-PORT OF REGISTRY: MONROVIA
-LOA/BEAM :   189,94 M /32,26 M
-CLASS: NKK 100 A1 BULK CARRIER,
STRENGTHENED FOR HEAVY CARGOES HOLD NO.2 AND NO.4  MAY BE EMPTY
ESP + LMC, UMS -SOLAS XII / 14 - BAN OF ALTERNATE LOADING
FOR SINGLE SKIN BULK CARRIERS ALWAYS TO APPLY
-DWAT / SW DRAFT:
SUMMER :  53.553  MT /12,30 M
WINTER :   52,139 MT / 12,044 M
TROPICAL: 54,972 MT/12,556 M
-TPC ON SSW DRAFT :   55,30 MT
-GRT / NRT :
-INTERNATIONLAL : 29.963 / 18.486
-SUEZ         :    31.015,66 / 28.639,02
-PANAMA  :   N/A / 24.869

-CONSTANTS :  380 MT (INCL. LUBE OIL, EXCLUDING FRESH WATER)

-BREAKDOWN M3 CAPACITY EACH HOLD :
           GRAIN              BALE
NO. 1 ..13,160.50........12,630.0
NO. 2 ..14,074.80........13,507.5
NO. 3...14,094.90........13,622.7
NO. 4...14,147.20........13,576.9
NO. 5...13,450.00........12,907.9
........................................
     68,927.40              66,245.00
-SIZE OF HATCHES  L X B :21.12X17.60
NO.1.....21.12 M  X  17.60 M
NO.2.....20.64 M  X  18.64 M
NO.3.....20.64 M  X  18.64 M
NO.4..... 20.64 M  X  18.64 M
NO.5..... 21.12 M  X  17.60 M

-TYPE OF HATCH COVERS : MACGREGOR ,FOLDING TYPE

-MAXIMUM PERMISSIBLE LOAD:

-TANKTOP: HOLD N. 1 21,43 MT/M2, HOLD N.2, 18,00 MT/M2,
        HOLD N.3, 23,50 MT/M2
        HOLD N.4, 18,00 MT/M2, HOLD N.5, 21,00 MT/M2

-APPROXIMATE HOLD DIMENSIONS AT CENTER LINE AND MID HEIGHT OF THE HOLD
-  L X B -  (NOT CLEAR TANK TOP SPACE)
NO.1 = 29.0 M    FWD = 24.8 M   AFT = 32.2  M
NO.2  =28.8 M    FWD = 32.2 M   AFT = 32.2 M
NO.3  =28.8 M    FWD = 32.2 M   AFT = 32.2 M
NO.4  =29.0 M    FWD = 32.2 M   AFT = 32.2 M
NO.5  =29.8 M    FWD = 32.2 M   AFT = 31.2 M

-APPROXIMATE CLEAR TANKTOP SPACES :

NO.1 = 29.0  M  FWD = 8.0 M   AFT = 24.2 M
NO.2 = 28.8  M  FWD = 24.2 M   AFT = 24.2 M
NO.3  = 28.8 M  FWD = 24.2 M   AFT = 24.2 M
NO.4  = 29.0 M  FWD = 24.2 M   AFT = 24.2 M
NO.5  = 29.8  M  FWD = 24.2 M   AFT = 7.60 M
-CARGO GEAR:
CRANES:
MANUFACTURER: MACGREGOR
NUMBER OF CRANES: 4 ELECTRO-HYDRAULIC CRANES
SITUATED BETWEEN HATCHES: 1 - 2  ;  2 - 3  ;  3 - 4  ;  4 - 5
CAPACITY (WITH HOOK)-(SWL): 30,5  MT EACH
CAPACITY (WITH GRAB)-(SWL): 22.5  MT
GRABS: 4 X 12
MANUFACTURER: JANUS YK 25(8-12CBM) (ELECTRO-HYDRAULIC REMOTE CONTROL)
NUMBER OF GRABS: 4 WEIGHT OF GRABS: 9.5TONS/
EACH TYPE OF GRABS: JANUS YK 25 (8-12CBM) ELECTRO HYDRAULIC REMOTE
CONTROL
TYPE GRAB VOLUME: 12M3 MAX.

-DISTANCE FROM WATER LINE TO TOP OF HATCHCOAMING IN HEAVY BALLASTED

CONDITION  (INCL BALLASTED HOLD):
AT MIDSHIP = 12.38M ; AT HOLD NO.1 = 14.80 M ; AT HOLD NO.5 = 11.70 M
-DISTANCE FROM WATERLINE TO TOP OF HATCH COAMINGS IN LIGHT BALLAST
CONDITION (ONLY TANKS WITHOUT HOLD) : 13.98 METER
AT MIDSHIP = 14.60 M ; AT HOLD NO.1 = 17.28 M ; AT HOLD NO.5= 13.60 M
-AUSTRALIAN WWF HOLD LADDERS FITTED
-HEAD OWNERS: AETHALIA MARITIME S.A
-HEAD OWNERS P&I CLUB: WEST OF ENGLAND
-H+M VALUE:  9.000.000USD
-H+M INSURERS: MULTIPLE UNDERWITERS THROUGH
CAMBIASO RISSO MARINE S.P.A. OF GENOA
-MANAGERS: T.S.T. INTERNATIONAL S.A. - ATHENS
ALL DETAILS ABOUT

PERFORMING VESSEL TO BE NOMINATED WITH FULL TC STRING, CHARTS

QUESTIONNAIRE AND SHORT QUESTIONNAIRE FOR NOMINATION PURPOSES, LATEST
ITINERARY AND FULL SET OF CERTIFICATES FOR CHARTERERS RECONFIRMATION,
BETWEEN 06:00-14:00 HRS NEW YORK TIME MON-FRI, EXCLUDING SAT, SUN AND
US HOLIDAYS LATEST 7 DAYS PRIOR VSSL'S ARRIVAL LOADPORT. APPROVAL TO
BE CONFIRMED WITHIN 24 HOURS (SSHEX) OF RECEIVING SAME; SAID APPROVAL
NOT TO BE UNREASONABLY WITHHELD BUT TO BE SUBJECT TO ANY RESTRICTIONS.

TOGETHER WITH NOMINATION OWNERS TO PROVIDE BACKGROUND OF ALL OTHER

OWNERS IN STRING FOR REASONS OF CHARTERERS' INTERNAL COUNTER-PARTY
RISK ASSESSMENT. CHARTERERS ARE ENTITLED TO REJECT A NOMINATION SHOULD
THERE BE REASONABLE GROUNDS THAT ANY OWNER IN STRING IS IN RISK OF
BECOMING INSOLVENT OR IS LIKELY TO FACE FINANCIAL COMPLICATIONS WHICH
MAY COMPROMISE THE PERFORMANCE OF THIS VOYAGE.

TOGETHER WITH NOMINATION OWNERS TO PLS ADV FULL DESCRIPTION WITH

VSSL'S BALTIC QUESTIONNAIRE.

WITH THE NOMINATION OWNERS TO PROVIDE BACKGROUND OF ALL OTHER

OWNERS IN STRING FOR REASONS OF CHARTERERS' INTERNAL COUNTER-PARTY
RISK ASSESSMENT. CHARTERERS ARE ENTITLED TO REJECT A NOMINATION SHOULD
THERE BE REASONABLE GROUNDS THAT ANY OWNER IN STRING IS IN RISK OF
BECOMING INSOLVENT OR IS LIKELY TO FACE FINANCIAL COMPLICATIONS WHICH
MAY COMPROMISE THE PERFORMANCE OF THIS VOYAGE.

OWNERS PROVIDING ALL VESSEL CERTIFICATES INCLUDING BUT NOT LIMITED TO

THE FOLL AND WARRANT SAME TO BE VALID AND UP TO DATE THROUGHOUT THE
DURATION OF THE VOYAGE.

01)   Registry
02)   Class
03)   ISSC
04)   DOC
05)   SMC
06)   Grain Cert. Doc of Authority
07)   H+M
08)   P+I
09)   IMSBC Solid Bulk cert.
10)   Cargo Gear certificate.
11)   Cert of Financial Responsibility

OWNERS FULLY COMPLETED QUESTIONNAIRE HEREUNDER WHICH AS

SUCH TO BE FULLY INCORPORATED INTO GOVERNING C/P:

01. Registered OWNERS:

02. OWNERS/MANAGERS FULL STYLE:
03. H+M VALUE:
04. P&I COVER:
05. CLASS:
06. GRAIN CUBIC BREAKDOWN BY HOLD:
07. CALL SIGN:
08. LAST 5 CARGOES (most recent first):
09. HATCH COVER TYPE:
10. MASTER'S NAME:
11. LAST D/D:
12. LAST S/S:
13. PORT OF REGISTRY:
14. OFFICIAL IMO NUMBER:
15. OWNERS TO DESCRIBE FULL CHARTER STRING IF APPLICABLE:
16. OWS CONFIRM VESSEL HAS NOT DECLARED G.A IN THE LAST 24 MONTHS
17. PLS ADVISE WHEN/WHERE UNDERTAKEN LAST PORT STATE INSPECTION AND
 OUTCOME:
18. OWS CONFIRM VSL HAS NOT BEEN DETAINED BY PORT STATE CONTROL
 DURING THE PAST 12 MONTHS.
19. OWNERS TO PROVIDE OF EMPTY HOLDS PRIOR LOADING LAST CARGO OR MOST
 RECENT AVAILABLE ALONG WITH VSL'S NOMINATION.
20. OWNERS TO ADVISE LAST TIME HOLDS WERE FULLY PAINTED.

FOLLOWING STANDARD INFO AND WARRANTIES TO FORM A PART OF THE C/P:

WARRANTIES:
======
A)
OWNERS GUARANTEE VESSEL IS A SINGLE DECK SELF TRIMMING BULKER, BUILT
2001 OR IN CASE OF SUBSTITUTE MAX 15YRS, WITH CLEAR MAIN HOLDS WITHOUT
OBSTACLES/OBSTRUCTIONS, SUITABLE FOR GRAB AND/OR SPOUT LOADING AND/OR
DISCHARGING. CHARTERERS ARE ENTITLED TO UTILIZE VESSEL'S GEAR WHICH TO
BE MINIMUM SET OF 4 ROTATING CRANES OF MIN 30 TONS SWL CAPACITY
SERVING ALL HOLDS AND MCGREGOR HYDRAULIC HATCHES. SHOULD THE VESSEL
HAVE OWN GRABS, SAME TO BE AT CHARTERERS' FREE DISPOSAL.

B)
OWNERS GUARANTEE VESSEL IS CLASSED HIGHEST LLOYDS OR EQUIVALENT AND
WILL MAINTAIN SUCH CLASS FOR THE ENTIRE VOYAGE. OWNERS GUARANTEE THAT
THE AFOREMENTIONED CLASSIFICATION SOCIETY IS A MEMBER OF THE INTL
ASSOCIATION OF CLASSIFICATION SOCIETIES (IACS).

C)
OWNERS GUARANTEE THAT VESSEL IS COVERED BY A FIRST CLASS H&M
UNDERWRITER AND BY A FIRST CLASS P&I CLUB WHICH IS A MEMBER OF THE
INTERNATIONAL GROUP OF P&I CLUBS.
IT SHALL BE CONSIDERED A FUNDAMENTAL BREACH BY OWNERS IF THE VESSEL'S
P&I COVER OR CLASS IS CANCELLED OR SUSPENDED DURING THIS CHARTER.
CHARTERERS ARE NOT RESPONSIBLE FOR ANY ACCIDENT OR DAMAGE TO OR ONBOARD
THE VESSEL WHICH IS NORMALLY COVERED WITH OWNERS H&M POLICY.

D)
OWNERS GUARANTEE THAT VESSEL AND VESSEL OPERATORS/MANAGER TO BE
ISM CERTIFIED AND IN FULL COMPLIANCE WITH ISM CODE AND IN
POSSESSION OF VALID SAFETY MANAGEMENT CERTIFICATE AND DOCUMENT
OF COMPLIANCE. STANDARD BIMCO ISM CLAUSE TO FORM PART OF THIS CP.

E)
VESSEL TO BE IN FULL COMPLIANCE WITH REQUIREMENTS OF ISPS CODE
AND IN POSSESSION OF VALID INTERNATIONAL SHIP SECURITY CERTIFICATE.
STANDARD BIMCO ISPS/MTSA CLAUSE FOR VOYAGE CP'S 2005 AND ANY
SUBSEQUENT AMMENDMENTS THERETO TO FORM PART OF THIS CP. ANY/ALL ISPS
RELATED EXPENSES FOR OWNERS ACCOUNT.

F)
OWNERS TO PRESENT VESSEL WITH EMPTY, CLEAN, DRY, ODOR FREE
HOLDS AND FREE OF ANY PREVIOUS CARGO RESIDUES, ACCORDING
TO AND IN FULL COMPLIANCE WITH CHARTERERS AND/OR
SHIPPERS SURVEYORS, LOCAL COMPETENT AUTHORITIES. NOR TO BE
TENDERED WITH ALL PERTINENT PASSES IN ORDER AND TO BE IN EVERY
RESPECT READY TO LOAD CHRTRS INTENDED CARGO AS SPECIFIED IN THE
GOVERNING CP. OWNERS TO RECTIFY ANY DEFICIENCIES IMMEDIATELY AT
THEIR TIME RISK AND EXPENSE.

G)
OWNERS CONFIRM VESSEL HAS A GRAIN LOADING PLAN FOR LOADING GRAIN
IN BULK AND THAT VESSEL IS GRAIN CLEAN AND FITTED FOR A FULL CARGO
OF BULK GRAIN TO BE LOADED IN MAIN HOLDS ONLY. ANY EXTRA TRIMMING
REQUIRED OTHER THAN SPOUT TRIMMING TO BE FOR OWNER'S ACCOUNT AND
TIME. ANY BAGGING/STRAPPING REQUIRED AND OR RELATED EXPENSES TO BE FOR
OWNER'S ACCOUNT. ANY EXTRA EXPENSES FOR LOADING DUE VESSEL'S
CONSTRUCTION BEING NON COMPLIANT WITH SINGLEDECK SELF TRIMMING
BULK CARRIER, TO BE FOR OWNER'S ACCOUNT. LOADING, STOWING AND TRIMMING
TO BE MASTER'S ENTIRE RESPONSIBILITY AND SATISFACTION WHICH ALWAYS TO
BE IN ACCORDANCE WITH VESSEL'S STABILITY BOOKLET AND SOLAS
REGULATIONS. MASTERS APPROVAL/SATISFACTION OF VESSEL'S SEAWORTHINESS
NOT TO BE UNREASONABLY WITHELD.

H)
OWNERS CONFIRM THAT THEY WILL NOT CHANGE FLAG/ CLASS/ OWNERSHIP/
P&I CLUB, OR H&M UNDERWRITERS FOR THE DURATION OF THIS CHARTER.
VESSEL'S SEAWORTHINESS AND CARGO WORKING CAPABILITY WILL BE
MAINTAINED THROUGHOUT THE ENTIRE DURATION OF THIS CHARTER.

I)
OWNERS AND MASTER TO EXERCISE DUE DILIGENCE TO ENSURE THE
WATERTIGHT INTEGRITY OF THE HATCH COVERS FOR THE DURATION OF THIS
CHARTER. CHARTERERS AND/OR THEIR AGENTS HAVE THE RIGHT TO CARRY OUT
HOSE AND/OR CHALK TEST DURING THIS CHARTER AND IN THE EVENT OF ANY
DEFICIENCY SAME TO BE RECTIFIED BY OWNERS WITHOUT DELAY,
BUT ALWAYS PRIOR LOADING, AT OWNER'S TIME, RISK AND EXPENSE.

J)
OWNERS WARRANT VESSEL IS ABLE TO FUMIGATE CARGO / CARGO HOLDS
WITH PHOSTOXIN TYPE FUMIGANTS WITHOUT EVACUATION OF CREW PROVIDED
CHEMICAL AGENT USED FOR FUMIGATION ALLOWS CREW MEMBERS TO REMAIN
ONBOARD (AS PER LOCAL HEALTH AND IMO REGULATIONS IF APPLICABLE).
CARGO TO BE FUMIGATED AT CHARTERER'S TIME/EXPENSE AS PER IMO
REGULATIONS.
K)
1. HEAD OWNERS / DISPONENT OWNERS WARRANT THAT AT THE COMMENCEMENT OF
AND THROUGHOUT THE TERM OF THIS CHARTER NEITHER THEY NOR THE VESSEL
NOMINATED HEREUNDER IS DIRECTLY OR INDIRECTLY OWNED, OPERATED,
CONTROLLED BY OR RELATED TO ANY ENTITY OR PERSON DESIGNATED BY THE
U.S. OFFICE OF FOREIGN ASSET CONTROL (OFAC) AS A SPECIALLY
DESIGNATED NATIONAL AND BLOCKED PERSON (SDN).

HEAD OWNERS / DISPONENT OWNERS WARRANT THAT THEY ARE FAMILIAR WITH
OFAC'S CURRENT LIST OF SANCTIONED COUNTRIES AND THAT NEITHER THEY NOR
THE VESSEL ARE DOMICILED OR REGISTERED IN ANY COUNTRY SO DESIGNATED.

TO THE EXTENT THAT THE OWNER DESIGNATED HEREIN IS NOT THE HEAD OWNER,
THEN SUCH OWNER SHALL DISCLOSE THE NAMES AND DOMICILES OF ALL OTHER
OWNERS UP THE CHARTERING CHAIN AND WARRANTS THAT NO SUCH OWNERS ARE
DIRECTLY OR INDIRECTLY OWNED, OPERATED, CONTROLLED BY OR RELATED TO
ANY ENTITY OR PERSON DESIGNATED BY OFAC AS A SDN.

2. AT THE TIME OF NOMINATION OF A PERFORMING VESSEL, CHARTERERS MAY

REJECT ANY VESSEL WHICH CHARTERERS DEEM TO FIT WITHIN THE ABOVE
MENTIONED OFAC CRITERIA OR WHICH PRESENTS A REASONABLE RISK OF
BEING CLASSIFIED AS AN SDN.

THE EXERCISE OR NON-EXERCISE BY CHARTERERS OF THEIR RIGHTS UNDER THIS

SUBPARAGRAPH SHALL NOT RELIEVE HEAD OWNERS / DISPONENT OWNERS OF THE
OBLIGATIONS AND WARRANTIES SET FORTH UNDER SUBPARAGRAPH 1 ABOVE, AND
SHALL NOT CONSTITUTE A WAIVER OF ANY OF CHARTERERS' OTHER RIGHTS
UNDER THIS CHARTER.

HEAD OWNERS / DISPONENT OWNERS ACCEPT RESPONSIBILITY FOR AND SHALL

DEFEND, INDEMNIFY AND HOLD CHARTERERS HARMLESS AGAINST ANY AND ALL
CLAIMS, LOSSES, DAMAGES, LIABILITIES, COSTS (INCLUDING LEGAL FEES),
FINES AND ANY AND ALL CONSEQUENTIAL LOSSES RESULTING FROM ANY NON-
COMPLIANCE WITH THIS CLAUSE. ANY AND ALL DELAYS TO THE VESSEL INCURRED
AS A RESULT OF SUCH NON- COMPLIANCE SHALL NOT COUNT AS LAYTIME OR TIME
ON DEMURRAGE OR THE VESSEL TO BE PLACED OFF HIRE (WHICHEVER
APPLICABLE).

ANY NON-COMPLIANCE WITH THIS CLAUSE SHALL CONSTITUTE A MATERIAL BREACH

OF THE CHARTER WHICH SHALL ENTITLE THE CHARTERERS TO TERMINATE THE
CHARTER. IF AT ANY TIME DURING THE CHARTER PERIOD, HEAD
OWNERS/DISPONENT OWNERS OR ANY OTHER OWNER IN THE CHARTERING CHAIN, OF
THE VESSEL, IS DESIGNATED BY OFAC AS A SDN, OR THE COUNTRY
IN WHICH THEY ARE DOMICILED OR REGISTERED IS DESIGNATED BY OFAC AS A

SANCTIONED COUNTRY, THEN CHARTERERS SHALL BE ENTITLED TO TERMINATE THE

CHARTER.
HEAD OWNERS / DISPONENT OWNERS ARE SOLELY RESPONSIBLE FOR ANY
RESTRAINT, SEIZURE, CONFISCATION OR DELAY IN THE PAYMENT OF ANY
FREIGHT MONIES RESULTING FROM THE EXERCISE BY ANY AUTHORITY OR
FINANCIAL INSTITUTION OF OBLIGATIONS IMPOSED ON THEM BY OFAC. THE
PAYMENT OF ANY MONIES DUE UNDER THIS CHARTER THAT ARE SUBSEQUENTLY
RESTRAINED, SEIZED OR CONFISCATED PURSUANT TO OFAC REGULATIONS SHALL
BE CONSIDERED AS HAVING BEEN DULY RECEIVED BY HEAD OWNERS / DISPONENT
OWNERS.

IN THE EVENT CHARTERERS EXERCISE THEIR OPTION TO TERMINATE THE CHARTER

PURSUANT TO THIS CLAUSE THEN, UPON DEMAND, ANY SUCH RESTRAINED, SEIZED
OR CONFISCATED FUNDS SHALL BE IMMEDIATELY REIMBURSED TO CHARTERERS,
AND CHARTERERS SHALL HAVE A LIEN ON THE VESSEL FOR SUCH RESTRAINED,
SEIZED OR CONFISCATED FUNDS.

L)
WITH NOMINATION OWNERS TO PROVIDE FULL STYLE OF ALL DISPONENT OWNERS
IN STRING AND THEIR CONTACT DETAILS AND P&I CLUB DETAILS. DISPONENT
OWNERS CONFIRM ALL CHARTERS IN STRING ARE IN GOOD STANDING AND NO
DISPUTE EXISTS BETWEEN PARTIES IN STRING.

M)
OWNERS WARRANT VESSEL IS TO SAIL FROM LOAD TO DISCHARGE PORT(S) WITH
UTMOST DESPATCH AT FULL SERVICE SPEED NO STOPPAGE OR DEVIATION ALLOWED
EXCEPT FOR SOLAS AND BUNKERS. MAX DEVIATION ALLOWED FOR BUNKERS IS 72
HOURS BUT ALSO WEATHER OR SUPPLY ISSUES PERMITTING WHICH ARE OUT OF
OWNERS CONTROL. MASTER TO SEND CHARTERERS AND THEIR REPRESENTATIVES
PER EMAIL ADDRESS GIVEN VSLS DAILY NOON REPORT INCLUDING POSITION AND
SPEED.

FOR

2. ACCOUNT :
============
SEABOARD OVERSEAS LIMITED,
C/O - Seaboard Overseas Limited
Rose House, 3rd Floor
51-59 Circular Road, Douglas
Isle of Man, IM1 1AZ

CHARTERERS PIC:
Andreas Chatzis.
email: chartering@seaboard.gr
Mob. +30 6957489344

3. CARGO:
=========
A FULL AND COMPLETE CARGO OF
50,000 MT 10% MOLOO CORN IN BULK 1 GRADE

NO PART CARGO ALLOWED.

CHOPT TO INCREASE CARGO QUANTITY IN CASE VESSEL CAN ACCOMMODATE.

FOR ANY CARGO QUANTITIES LOADED EXCEEDING THE ABOVE MENTIONED CARGO
QUANTITY SAME TO BE DISCOUNTED AT HALF FRT RATE.

CARGO TO BE LOADED IN CLEAR, CLEAN, UNOBSTRUCTED MAIN HOLDS ONLY.

NO CARGO TO BE LOADED IN WING TANKS, DEEP TANKS OR ANY OTHER
INACCESSIBLE PLACES. OWNERS CONFIRM NO BAGGING/STRAPPING/SECURING
TO BE REQUIRED IN STOWING THE CARGO.

IT IS UNDERSTOOD THAT OWNERS/MASTER CANNOT CALL FOR A QUANTITY OF

CARGO IN EXCESS OF THAT PERMITTED UNDER CHARTER PARTY TERMS NOR IN
EXCESS OF THE QUANTITY THAT VESSEL IS ABLE TO LIFT IN COMPLIANCE WITH
ANY LOADING AND/OR DISCHARGING DRAFT RESTRICTIONS AND/OR ANY OTHER
CHARTER PARTY LIMITATIONS.

SIKANIA'S STOWAGE PLAN AS FOLLOWS - SUBJECT TO ACTUAL

STOWFACTOR, FINAL WATER DENSITIES, WEIGHTS BENDS:
Hold-1 = 8,100 82%
Hold-2 = 10,500 Full
Hold-3 = 10,500 FULL
Hold-4 = 10,600 Full
Hold-5 = 9,500 94%
---------------------------------
TOTAL = 49,200 MTONS

Dep.draft Nola (fw) f: 11.93m a: 12.03m

Transit draft Panam TFW at .9954. 12.04m EK

Dep.draft Panama after bunkering Balboa (sw) f: 11.69m a: 11.87m

Arrival Callao ( sw ) f: 11.79m a: 11.80m

BSS CORN 1 GRADE STOWING 47'

4. LAYCAN:
==========
A) LAYCAN: 17 - 27 JANUARY, 2021
B) ITINERARY INCLUDING AGENTS AT LAST PORT: PLS ADVISE BY RETURN
WITH NOMINATION
C) ETA AND LOAD READINESS: PLS ADVISE BY RETURN WITH NOMINATION
D) PRE-STOWPLAN: PLS ADVISE BY RETURN WITH NOMINATION

5. PORTS :
========
LOADING: 1 SAFE BERTH/PLACE/MIDSTREAM RIG FACILITY
MISSISSIPPI RIVER, NOT ABOVE BUT INCLUDING BATON ROUGE.

ANY BAR/CHANNEL DRAFT TO BE FOR OWNER'S RISK.

DISCHARGING: 1 SAFE BERTH EACH CALLAO AND/OR PISCO, PERU

IN CHOPT 1 SAFE BERTH EACH CALLAO AND MATARANI,

IN CHOPT 1 SAFE BERTH EACH PISCO AND MATARANI.

FOR ALL PORTS/NAVIGATIONAL RESTRICTIONS OWNERS TO CHECK AND SATISFY

THEMSELVES.

6. LOAD/DISCH TERMS:
====================
LOAD RATE:
==========
10,000 MT/WWD OF 24 CONSECUTIVE HOURS SATSHEX EIU.

TIME COUNTING: TIME FROM 0000 HRS ON SATURDAY OR FROM 5PM ON DAY
PRECEDING A HOLIDAY UNTIL 8AM MONDAY OR NEXT BUSINESS DAY IS NOT
TO COUNT EVEN IF USED.

CHOPT, DECLARABLE LATEST 48 HRS PRIOR TO VESSEL ARRIVAL LOAD/PORT,

TO AMEND DISCHARGE RATE AS FOLLOWS, WITH FREIGHT RATE ON ENTIRE CARGO
BEING INCREASED OR DISCOUNTED ASF:

9,000 SSHEX - PREMIUM   $0.50 PMT

N.O.R. AT LOAD PORT TO BE DELIVERED IN WRITING TO THE LOADING ELEVATOR

TOGETHER WITH PASSES FROM USDA GRAIN INSPECTOR AND NCB BTWN THE HOURS
OF 0800-1600 MON-FRI AND BTWN 0800-NOON ON SATURDAY, UNLESS A LOCAL
HOLIDAY, AND TIME TO COMMENCE COUNTING FROM 0800 HOURS ON THE NEXT
BUSINESS DAY (SATSHEX) AFTER NOR IS PROPERLY TENDERED/RECEIVED IN
ACCORDANCE WITH CP TERMS. N.O.R. IS VALID ONLY AFTER VESSEL HAS BEEN
INSPECTED AND PASSED. N.O.R. IS NOT TO BE TENDERED PRIOR TO LAYCAN.
AT LOAD AND/OR DISCHARGE PORT(S), WHEN BERTH IS NOT CONGESTED VSL'S
"ARRIVAL" SHALL MEAN WHEN VSL IS ALL FAST AT THE LOAD/DISCH BERTH.

WHEN THE BERTH IS CONGESTED VSL'S "ARRIVAL" SHALL MEAN ONCE VSL HAS
ANCHORED AT THE CUSTOMARY WAITING PLACE AS PER WRITTEN INSTRUCTIONS OF
THE PORT AUTHORITY. AT LOAD AND/OR DISCHARGE PORT(S), IT IS UNDERSTOOD
THAT TIME WAITING FOR HIGH TIDE AND/OR DAYLIGHT NAVIGATION RESTRICTION
TO TRANSIT TO BERTH OR INNER ANCHORAGE, IF APPLICABLE AT SUCH A PLACE,
IS TO BE FOR OWNER'S ACCOUNT.
SHOULD THE VESSEL BE ORDERED TO LOAD AND IS UNABLE TO PROCEED TO BERTH
ON ACCOUNT OF CONGESTION, THE VESSEL SHALL BE PERMITTED TO PRESENT
N.O.R. FROM THE CUSTOMARY ANCHORAGE OF THE PORT OR WHEREVER VESSEL IS
STOPPED BY THE PORT AUTHORITIES IN WRITING, PROVIDED THE VESSEL HAS
BEEN INSPECTED AND PASSED, THEN LAYTIME TO COMMENCE AS PER CP. THE
TIME SHIFTING FROM WAITING PLACE(S) TO BERTH IS NOT TO COUNT AS
LAYTIME OR TIME ON DEMURRAGE. NOTWITHSANDING THE ABOVE, FOR PORTS
WHERE THIS IS CUSTOMARY, INCLUDING U.S. AND CANADIAN PORTS, N.O.R. TO
BE PRESENTED ONLY AFTER VESSEL OBTAINED ALL PASSES.

DISCH RATE:
==========
10,000 MT PWWD OF 24 CONSEC HRS SHINC

TIME COUNTING: SHINC

CHOPT, DECLARABLE LATEST 48 HRS PRIOR TO VESSEL ARRIVAL DISCHARGE

PORT, TO AMEND DISCHARGE RATE AS FOLLOWS, WITH FREIGHT RATE ON
ENTIRE CARGO BEING INCREASED OR DISCOUNTED ASF:

8,000 SHINC - PREMIUM    $0.60 PMT

12,000 SHINC - DISCOUNT   $0.30 PMT.

N.O.R. AT EACH DISCHARGE PORT TO BE TENDERED BTWN THE HOURS OF

0800-1600 MON-SUN, INCLUDING HOLIDAYS, AND TIME TO COMMENCE
COUNTING FROM 0800 HOURS ON THE NEXT DAY AFTER NOR IS PROPERLY
TENDERED/RECEIVED IN ACCORDANCE WITH CP TERMS.

SHOULD THE VESSEL BE UNABLE TO PROCEED TO BERTH ON ACCOUNT OF

CONGESTION, THE VESSEL SHALL BE PERMITTED TO PRESENT NOR FROM THE
CUSTOMARY ANCHORAGE OF THE PORT OR WHEREVER VESSEL IS STOPPED BY
THE PORT AUTHORITIES IN WRITING, THEN LAYTIME TO COMMENCE AS PER
CP WHETHER IN BERTH OR NOT, CUSTOM CLEARED OR NOT, WHETHER IN
FREE PRATIQUE OR NOT. THE TIME SHIFTING FROM WAITING PLACE(S) TO
BERTH IS NOT TO COUNT AS LAYTIME OR TIME ON DEMURRAGE.

LAYTIME: NON REVERSIBLE BETWEEN LOAD/DISCH PORTS, BUT REVERSIBLE

BETWEEN DISCHARGING PORTS

++

AT LOAD AND DISCH/PORTS: NOTWITHSTANDING OF ANY OTHER CLAUSE IN THIS

C/P, NOR TO BE ONLY CONSIDERED VALID WITH FREE PRATIQUE AND USDA/NCB
PASSES WHERE APPLICABLE.

IT IS UNDERSTOOD THAT ALL TIME LOST DUE TO MASTERS/OWNERS

INTERRUPTION OF LOADING OR DISCHARGING OPERATIONS FOR REASONS NOT
LIMITED TO BUT INCLUDING DRAFT READING, INTAKE/TRIM/STABILITY
CALCULATIONS OR BALLASTING/DEBALLASTING IS NOT TO COUNT AS LAYTIME OR
TIME ON DEMURRAGE AS THE CASE MAY BE, UNLESS SAME IS REQUESTED BY
CHARTERERS/SHIPPERS, WHEREFOR TIME TO COUNT.

7. FREIGHT RATE AND PAYMENT TERMS:

==================================
- FREIGHT RATE :
USD 27.00 PMT 1-1 CALLAO
USD 28.00 PMT 1-2 CALLAO - PISCO
USD 28.75 PMT 1-2 CALLAO - MATARANI
USD 28.85 PMT 1-2 PISCO - MATARANI

PAYMENT TERMS:
--------------
95 PCT PAYABLE LESS C/P COMMISSIONS AND ESTIMATED UNDISPUTED LOADPORT
DESPATCH WITHIN 3 BANKING DAYS AFTER S/R OF CLEAN ON BOARD BILLS OF
LADING MARKED 'FREIGHT PAYABLE AS PER CHARTER-PARTY'. CHARTERERS
OPTION TO ISSUE BS/L MARKED "FREIGHT PREPAID" IN WHICH CASE OWNERS TO
AUTHORISE RELEASE OF BS/L UPON RECEIPT OF BANK ADVICE THAT 100PCT FRT
HAS IRREVOCABLY BEEN REMITTED LESS ESTIMATED DESPATCH AT LOADPORT AND
CP COMMISSIONS.
BALANCE OF FREIGHT TO BE SETTLED AFTER FINAL DISCHARGE TOGETHER WITH
FINAL ACCOUNTS INCLUDING UNDISPUTED DEMURRAGE / DESPATCH WITHIN 30
DAYS AFTER RECEIPT BY OWNERS AND CHARTERERS ALL RELEVANT DOCS INCLUDING
LAYTIME STATEMENTS/STATEMENTS OF FACTS/NOTICES OF READINESS FOR ALL
PORTS. CLEAN B/L'S FOR CLEAN CARGO ONLY - MASTER HAS THE RIGHT TO
REJECT ANY DAMAGED CARGO OR CARGO WHICH PREVENTING THE ISSUANCE OF COB
BS/LS AND CHRTS/SHIPPERS TO REPLACE WITH SOUND ONE FOR THEIR
TIME/RISK/EXPENSE.

OWNERS' BANKING DETAILS:

-PLEASE ADVISE

8.DEMURRAGE / DESPATCH
========================
DEMURRAGE: USD 24,000 PDPR
DESPATCH: HALF DEMURRAGE RATE BASED ON LAYTIME SAVED BOTH ENDS

9.SHIFTING BETWEEN LOAD/DISCHARGING BERTHS/PLACES :

====================================================
IF THE VESSEL SHIFTS FROM THE ANCHORAGE OR WAITING PLACE OUTSIDE THE
PORT LIMITS EITHER DIRECTLY TO THE FIRST LOADING OR DISCHARGING BERTH
OR TO A LAY BERTH OR ANCHORAGE WITHIN THE PORT LIMITS, THE COST OF
THAT SHIFTING SHALL BE FOR OWNERS' ACCOUNT AND TIME SO USED SHALL NOT
COUNT EVEN IF VESSEL IS ON DEMURRAGE.

COST OF SHIFTING FROM LAY BERTH OR ANCHORAGE WITHIN THE PORT LIMITS
TO FIRST LOADING OR FIRST DISCHARGING BERTH TO BE FOR OWNERS' ACCOUNT
AND TIME OVERTIME EXPENSES FOR VESSEL'S OFFICERS AND CREW SHALL
ALWAYS BE FOR OWNERS' ACCOUNT.

CHARTERERS TO LEAVE VSL IN SAFE AND SEAWORTHY TRIM BETWEEN LOADING

BERTHS AND BETWEEN DISCHARGE BERTHS/PORTS TO MASTERS SATISFACTION
WHICH IS TO BE BASED ON VESSEL'S GRAIN STABILITY BOOKLET AND LOCAL
S.O.L.A.S REGULATION. MASTER'S APPROVAL NOT TO BE UNREASONABLY
WITHHELD.

ANY/ALL SHIFTING FROM WAITING AREA ANCHORAGE(S) TO THE FIRST

LOAD/DISCHARGE BERTH AT EACH LOAD/DISCHARGE PORT IS CONSIDERED A
CONTINUATION AND/OR COMPLETION OF THE VOYAGE AND ANY/ALL TIME SPENT
SHIFTING, UNTIL THE VESSEL IS ALL FAST AT THE LOAD/DISCHARGE BERTH,
ALWAYS DOES NOT COUNT AS LAYTIME OR TIME ON DEMURRAGE, AND ANY/ALL
SHIFTING EXPENSES ARE FOR OWNERS ACCOUNT. ANY FURTHER SHIFTS TO BE AT
CHARTERERS TIME/EXPENSE.

10. NOTICES:
============
AS APPLICABLE AND SUBJECT TO THE FIXTURE AND ETA DATE, OWNERS ARE TO
GIVE CHARTERERS NOTICE OF VESSEL'S ETA AT LOADPORT UPON NOMINATION AS
WELL AS DAILY NOTICES PRIOR TO VESSEL'S ARRIVAL, AND TO GIVE DAILY
NOTICES OF VESSEL'S ETA AT DISCHARGE PORT UPON VESSEL'S DEPARTURE
FROM LOADPORT.

NOTICES TO BE GIVEN TO THE FOLL EMAIL ADDRESSES: TBA

11.AGENTS:
==========
OWNERS TO APPOINT VESSELS AGENTS AS NOMINATED BY CHARTERERS AT
LOADING AND DISCHARGING PORTS.

12. CONTRACT LAW AND ARBITRATION FORUM

=======================================
THE CONTRACT TO BE CONSTRUED IN ACCORDANCE WITH ENGLISH LAW.

ARBITRATION TO BE IN LONDON AND L.M.A.A. RULES TO APPLY - FULL

WORDING OF ARBITRATION CLAUSE AS PER CHARTER PARTY.

IN CASES WHERE NEITHER THE CLAIM NOR ANY COUNTER CLAIM EXCEEDS THE
SUM OF U.S.$ 50,000 (OR SUCH OTHER SUM AS THE PARTIES MAY AGREE),
THE ARBITRATION SHALL BE CONDUCTED IN ACCORDANCE WITH THE LMAA SMALL
CLAIMS PROCEDURE CURRENT AT THE TIME WHEN THE ARBITRATION PROCEEDINGS
ARE COMMENCED.

13. EXTRA INSURANCE ON CARGO:

=============================
NO EXTRA INSURANCE DUE TO VESSELS CLASS/FLAG/OWNERSHIP TO APPLY.

14. BS/L - LOI

=========
BS/L WEIGHT TO BE DETERMINED AS PER SHORE SCALE/ELEVATOR'S FIGURES
ONLY.

UNLESS OTHERWISE INSTRUCTED BY CHRTS, IF ORIGINAL BILL(S) OF LADING

ARE UNAVAILABLE AT DISCHARGE PORT UPON VESSEL ARRIVAL, OWNERS ARE TO
DISCHARGE THE CARGO AGAINST AN L.O.I. IN OWNERS' P+I WORDING SIGNED
BY CHARTS.

CHARTERERS HAVE THE OPTION TO HAVE THE ORIGINAL BILLS OF LADING

ISSUED BY THE DISCHARGING PORT AGENT, ALWAYS IN ACCORDANCE WITH
THE MATE'S RECEIPT AND MASTER'S LETTER OF AUTHORIZATION, AND SAME
MAY BE SIGNED/RELEASED BY THE DISCHARGE PORT AGENT ON BEHALF OF THE
MASTER, AFTER RECEIPT OF OWNER'S APPROVAL OF THE PROFORMA BILLS OF
LADING.

CHARTERERS HAVE THE OPTION TO AMEND THE FREIGHT RATE IN THE BILL(S)
OF LADING TO READ DIFFERENTLY THAN THE AGREED FREIGHT RATE IN THE
CHARTER PARTY, HOLDING OWNERS HARMLESS FROM ANY CONSEQUENCES
RESULTING FROM SAME.
CHARTERERS TO PROVIDE A LETTER OF INDEMNITY (LOI) ON OWNER'S P&I
CLUB WORDING IF REQUIRED.

15. TAXES/DUES
===============
AT LOADING AND/OR DISCHARGING PORT(S) ANY TAXES ON CARGO TO BE FOR
CHARTERERS'/RECEIVERS' ACCOUNT AND ANY DUES AND/OR TAXES ON VESSEL
AND/OR FREIGHT AND/OR FLAG TO BE FOR OWNERS' ACCOUNT. VESSEL'S
NORMAL AND CUSTOMARY PORT CHARGES AT LOAD AND DISCHARGE PORT(S) TO
BE FOR OWNERS' ACCOUNT IRRESPECTIVE OF METHOD OF CALCULATION.

16. GEAR CLS

=============
ALL CARGO HANDLING GEAR INCLUDING CRANES TO BE KEPT IN GOOD WORKING
ORDER AND OWNERS TO MAINTAIN RESPECTIVELY TAKE CARE FOR RENEWAL OF
ALL ORDINARY RUNNERS PREVENTERS, AND GUY MATERIAL WHENEVER NECESSARY.
IN THE EVENT OF A BREAKDOWN OF CRANE(S) FOR ANY PERIOD BY REASON OF
DISABLEMENT OR INSUFFICIENT POWER, ANY TIME LOST - EVEN IF VESSEL IS
ON DEMURRAGE - TO BE ADDED TO LAYTIME ALLOWED PRO RATA FOR THE PERIOD
OF SUCH INSUFFICIENCY IN RELATION TO THE NUMBER OF WORKING CRANES.

IF CHARTERERS CONTINUE WORKING BY USING SHORE-CRANE(S) OWNERS TO

PAY SUCH CRANAGE BUT THEN THE TIME TO COUNT. TIME LOST BY STEVEDORES
AS A RESULT OF SUCH BREAKDOWN OF SUCH CRANE(S), AND ALL OTHER PROVEN
DIRECTLY RELATED EXPENSES THEREBY INCURRED ARE TO BE FOR OWNERS'
ACCOUNT, LIMITED TO ONE SHIFT ONLY.

17. COMMISSION - ALL PAYABLE ON FREIGHT, DEADFREIGHT AND DEMURRAGE:

===================================================================
ADDRESS COMMISSION: 5% DUE TO CHARTERERS
BROKERAGE COMMISSION: 1.25% TO DORIC SHIPBROKERS SA.
ADDRESS AND DORIC'S BROKERAGE COMMISSION ARE DEDUCTIBLE BY CHARTERERS
FROM INITIAL FREIGHT PAYMENT.

18. PROTESTS:
=============
OWNERS/MASTER MUST PRESENT ANY PROTEST, CLAIM OR COMPLAINT TO
CHARTERERS WITHIN 24 HOURS OF OCCURANCE OR DISCOVERY. IF SAME IS
TO ANY THIRD PARTY, CHARTERERS ARE TO BE KEPT IN COPY TIMELY.

19. SWELL AT LOAD / DISCHARGE PORTS

===================================
IF SWELL CONDITIONS ARISE, ALL EXPENSES INCLUDING BUT NOT LIMITED
TO SHIFTING AS A DIRECT RESULT OF SWELL AT LOAD OR DISCHARGE TO
BE FOR OWNERS ACCOUNT AND LAYTIME TO COUNT HALF 50/50 BETWEEN
CHARTERERS AND OWNERS EVEN IF THE VESSEL IS ON DEMURRAGE.

20. INCONSISTENCY BETWEEN RECAP AND SIGNED CP

=============================================
IN THE EVENT OF AN INCONSISTENCY BETWEEN THE RECAP AND THE SIGNED
C/P, THE RECAP WILL TAKE PRECEDENCE UNLESS THE PARTIES HAVE EXPRESSLY
AGREED OTHERWISE BETWEEN THE CONCLUSION OF THE FIXTURE AS RECORDED
IN THE RECAP AND THE SIGNING OF THE C/P.

21. CHARTER PARTY:

==================
OTHERWISE AS PER 'HAWK I/SEABOARD CP DD 22/MAY/20' WITH
LOGICAL AMENDMENTS TO SUIT PRESENT FIXTURE.

+END+

TRUST IN ACCORDANCE WITH YOUR NOTES. THANKS FOR THE SUPPORT SO FAR.

BRGDS