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Policy No. 20780983

Protection & Indemnity Insurance
- Owners' Fixed

INA PERMATA 1

The Insurance is effective as from: noon GMT 20 February 2017 to noon GMT 20 February 2018
 Assuranceforeningen SKULD (Gjensidig), P.O. Box, 1376 Vika, N-0114 Oslo, Norway, and
SKULD Mutual Protection and Indemnity Association (Bermuda) Ltd.

Policy No. 20780983

Protection & Indemnity Insurance
- Owners' Fixed

This is to certify that:

Assured
PT SILLO MARITIME PERDANA TBK
Principal Place of Business:
The City Tower Building, 6th Floor, Unit 1N
Jl. M.H.
Thamarin No. 81
Jakarta 10310

Have been registered with Skuld in respect of the following Vessel :

Name: INA PERMATA 1

Flag: Indonesia
Port of Registry: Jakarta
IMO: 9278260
Year of Build: 2002
GT: 328

The Insurance is effective as from: noon GMT 20 February 2017 to noon GMT 20 February 2018

This Certificate of Insurance is evidence only of the contract of Indemnity Insurance between the above Assured and Skuld and shall not be
construed as evidence of any undertaking, financial or otherwise, on the part of Skuld to any other party.

In the event that the Assured tenders this Certificate of Insurance as evidence of insurance under any applicable law relating to financial
responsibility, or otherwise shows or offers it to any other party as evidence of insurance, such use of this Certificate by the Assured is not to be
taken as any indication that Skuld thereby consents to act as guarantor or to be sued directly in any jurisdiction whatsoever. Skuld does not so
consent.

The insurance provided by Skuld for the vessel is governed by Skuld's Terms & Conditions for Owner's Fixed P&I and Statutes applicable at the
commencement of the period of insurance stated above, except to the extent that they are modified by the special terms set out below.

Insurance tax may be applicable in various jurisdictions. In accordance with the Terms & Conditions, the Assured shall pay Skuld the amount of
any tax or duty relating to premiums or other sums paid or payable that Skuld is or may become liable for.

Oslo, 20 February 2017 Page 1 of 3

Policy No.: 20780983

Limit
The combined single limit under this Insurance is USD 500,000,000 each vessel any one event.

War Excess Hull Value

By separate agreement cover is sub-limited to USD 50,000,000 per event

Otherwise as per SKULD's Terms & Conditions for Owners' Fixed P&I.

General Conditions
SKULD's Terms & Conditions for Owners' Fixed P&I.

Cover Exclusions
Cargo (Clause 4)
By separate agreement cover in respect of the Assured's liability for cargo is excluded.

Extra Cargo handling Cost (Clause

5)
By separate agreement cover in respect of the Assured's liability for Extra Cargo Handling Costs is excluded.

GA Contributions Cargo (Clause

15)
By separate agreement cover in respect of GA Contribution to Cargo is excluded.

Fines (Clause 17) Cargo Delivery Fines

By separate agreement cover in respect of the Assured's liability for Fines relating to Cargo is excluded.

Deductibles
In accordance with Appendix 3 of the SKULD's Terms & Conditions for Owners' Fixed P&I, however:

Deductible all other claims

USD 2,000 all other claims any one accident or occurrence

Crew (Clause 6)
USD 1,000 any one accident or occurrence

Warranties
Warrant Cancellation Return only
By separate agreement, the cover is not subject to lay up return of premium.

Trading Warranty
Trading Indonesian and Singapore waters only

Oslo, 20 February 2017 Page 2 of 3

Policy No.: 20780983

Special Conditions
It is noted that the vessel is insured as a tug. The insurance is extended to include the member's liability or loss
as a result of the vessel undertaking towage or salvage where:

1) The contract conforms to U.K., Dutch and Scandinavian standard towing conditions including Towcon and
Towhire or similar conditions approved by the Association.

2) The contract is part of a salvage action entered into a Lloyd's Standard Form of Salvage Agreement.

3) The agreement contains stipulations to the effect that each of the parties in such an operation shall bear their
own losses without the right of recourse against the other participants ("knock for knock").
Otherwise reference is made to the Association's Statutes and Rules.

Ståle L. Hansen
President and Chief Executive Officer

Oslo, 20 February 2017 Page 3 of 3

PT Sillo Maritime Perdana Tbk Assuranceforeningen
Skuld (Gjensidig)
The City Tower Building, 6th Floor, Unit 1N
Jl. M.H. Skuld Offshore
Thamarin No. 81 P.O. Box 1376 Vika
Jakarta 10310 NO-0114 Oslo, Norway
Visiting address:
Rådhusgaten 27, 0158 Oslo

Tel +47 22 00 22 00
Fax +47 22 42 42 22

E-mail
offshore@skuld.com

Registered No
938 419 531

www.skuld.com

Your ref Our ref Oslo

ENO 21 February 2017

Dear Sirs

Policy Number: 20780983

We confirm that as of 20.02.2017 the INA PERMATA 1 is entered in this Association by or on behalf of
PT Sillo Maritime Perdana Tbk as Assured subject always to the Rules of the Association and the
Member's terms of entry including all provisions as to payment of calls.

Cover includes but is not limited to:

- Oil Pollution
- Wreck Removal
- Crew
- Towing

By separate agreement cover in respect of the Assured's liability for cargo is excluded.

This confirmation of entry is not an indemnity or evidence of any undertaking on the part of the
Association, whether financial or otherwise, to any party and shall not be construed as such.

In the event that the Member uses this confirmation as evidence of insurance under any applicable law
relating to financial responsibility, or otherwise shows or offers it to any other party as evidence of
insurance, it must be clearly understood that this confirmation relates only to the date set out in the first
paragraph hereof and that insurance is subject to the Rules of the Association and the terms of entry as
provided in that paragraph. Such use of this confirmation of entry by the Member is not to be taken as
any indication that the Association thereby consents to act as guarantor or to be sued directly in any
jurisdiction whatsoever. The Association does not so consent.

Yours faithfully
Assuranceforeningen Skuld (Gjensidig)

Erika Nordlund
Underwriting Assistant
Direct line +65 8127 7088