Common use of BUYER’S SUPPLIED ITEMS Clause in Contracts

BUYER’S SUPPLIED ITEMS. The BUYER shall deliver to the BUILDER at its shipyard the items as specified in the Specifications which the BUYER shall supply on BUYER’s account by the time designated by the SELLER. Should the BUYER fail to deliver to the BUILDER such items within the time specified, the delivery of the VESSEL shall automatically be extended for a period of such delay, provided such delay in delivery of the BUYER’s supplied items shall affect the delivery of the VESSEL. In such event, the BUYER shall (subject to the SELLER’s obligation to mitigate any loss or damage) pay to the SELLER all losses and damages sustained and properly evidenced by the SELLER due to such delay in the delivery of the BUYER’s supplied items and such payment shall be made upon delivery of the VESSEL Provided that the BUYER shall not, in any circumstances, be liable for any consequential loss or special loss, or expenses arising from such delay including, without limitation, loss of time, loss of profit or earnings. Furthermore, if the delay in delivery of the BUYER’s supplied items should exceed Fifteen (15) days, the SELLER shall be entitled to proceed with construction of the VESSEL without installation of such items in or onto the VESSEL, without prejudice to the SELLER’s right hereinabove provided, and the BUYER shall (subject to the terms of the Contract) accept the VESSEL so completed, provided it otherwise being in compliance with the Contract and the Specifications. Shipbuilding Contract Hull No. 0120833 The BUILDER shall be responsible for storing and handling of the BUYER’s supplies as specified in the Specifications after delivery to the BUILDER and shall install them on board the VESSEL at the SELLER’s cost and expense. Upon arrival of such shipment of the BUYER’s supplied items, the BUILDER and the BUYER shall undertake a joint unpacking inspection. If any damages are found so that the BUYER’s supplied items are not suitable for installation, the BUILDER shall be entitled to refuse to accept the BUYER’s supplied items. Shipbuilding Contract Hull No. 0120833

BUYER’S SUPPLIED ITEMS. The BUYER shall deliver to the BUILDER SELLER at its shipyard the items as specified in the Specifications which the BUYER shall supply on BUYER’s its account by the time designated mutually agreed by the SELLERSELLER and the BUYER. Should the BUYER fail to deliver to the BUILDER SELLER such items within the time specifiedtime, agreed, the delivery of the VESSEL shall automatically be extended for a period of such delay, provided always that such delay in delivery of the BUYER’s supplied items shall affect actually have affected the delivery of the VESSEL. In such event, the BUYER shall (subject to the SELLER’s obligation to mitigate any loss or damage) pay to the SELLER all losses and damages sustained and properly evidenced by the SELLER due to such delay in the delivery of the BUYER’s ’S supplied items and such payment shall be made upon delivery of the VESSEL Provided VESSEL, but only provided that the BUYER shall not, in any circumstances, be liable for any consequential loss or special loss, or expenses arising from such delay including, without limitation, loss of time, loss of profit or earningsconstruction program is actually affected. Furthermore, if the delay in delivery of the BUYER’s supplied items should exceed Fifteen twenty (1520) days, the SELLER shall be entitled to proceed with the construction of the VESSEL without installation of such items in or onto the VESSEL, without prejudice to the SELLER’s ’S right hereinabove provided, and the BUYER shall (subject to the terms of the Contract) accept the VESSEL VESSEL, so completed, provided it otherwise being in compliance with the Contract and the Specifications. Shipbuilding Contract Hull No. 0120833 The BUILDER SELLER shall be responsible for safely storing and handling of the BUYER’s supplies as specified in the Specifications after delivery to the BUILDER SELLER and shall install and secure them on board the VESSEL at the SELLER’S expenses. The extra cost for material installation or testing for Buyer’s cost and expensesupplied items, if any, will be borne by the Buyer. Upon arrival of such shipment of the BUYERBuyer’s supplied items, the BUILDER and the BUYER both parties shall undertake a joint unpacking inspection. If if any damages are found so that the BUYER’s supplied items are to be not suitable for installation, the BUILDER SELLER shall be entitled to refuse to accept the BUYER’s supplied items. Shipbuilding Contract Hull No. 0120833.

BUYER’S SUPPLIED ITEMS. The BUYER shall deliver to the BUILDER SELLER at its shipyard the items as specified in the Specifications which the BUYER shall supply on BUYER’s its account by the time designated mutually agreed by the SELLERSELLER and the BUYER. Should the BUYER fail to deliver to the BUILDER such items within the time specifiedtime, agreed, the delivery of the VESSEL shall automatically be extended for a period of such delay, provided always that such delay in delivery of the BUYER’s supplied items shall affect actually have affected the delivery of the VESSEL. In such event, the BUYER shall (subject to the SELLER’s obligation to mitigate any loss or damage) pay to the SELLER all losses and damages sustained and properly evidenced by the SELLER due to such delay in the delivery of the BUYER’s supplied items and such payment shall be made upon delivery of the VESSEL Provided VESSEL, but only provided that the BUYER shall not, in any circumstances, be liable for any consequential loss or special loss, or expenses arising from such delay including, without limitation, loss of time, loss of profit or earningsconstruction program is actually affected. Furthermore, if the delay in delivery of the BUYER’s supplied items should exceed Fifteen twenty (1520) days, the SELLER shall be entitled to proceed with the construction of the VESSEL without installation of such items in or onto the VESSEL, without prejudice to the SELLER’s right hereinabove provided, and the BUYER shall (subject to the terms of the Contract) accept the VESSEL so completed, provided it otherwise being in compliance with the Contract and the Specifications. Shipbuilding Contract Hull No. 0120833 The BUILDER SELLER shall be responsible for safely storing and handling of the BUYER’s supplies as specified in the Specifications after delivery to the BUILDER and shall install and secure them on board the VESSEL at the SELLER’s cost and expenseexpenses. Upon arrival of such shipment of the BUYERBuyer’s supplied items, the BUILDER and the BUYER both parties shall undertake a joint unpacking inspection. If any damages are found so that the BUYER’s supplied items are to be not suitable for installation, the BUILDER SELLER shall be entitled to refuse to accept the BUYER’s supplied items. Shipbuilding Contract Hull No. 0120833.

BUYER’S SUPPLIED ITEMS. The BUYER shall deliver to the BUILDER SELLER at its shipyard the items as specified in the Specifications which the BUYER shall supply on BUYER’s its account by the time designated by the SELLER. Should the BUYER fail to deliver to the BUILDER BUILDERS such items within the time specified, the delivery of the VESSEL shall automatically be extended for a period of such delay, provided such delay in delivery of the BUYER’s supplied items shall affect the construction and/or delivery of the VESSEL. In such event, the BUYER shall (subject to the SELLER’s obligation to mitigate any loss or damage) pay to the SELLER all losses and damages sustained and properly evidenced by the SELLER due to such delay in the delivery of the BUYER’s supplied items and such payment shall be made upon delivery of the VESSEL Provided that the BUYER shall not, in any circumstances, be liable for any consequential loss or special loss, or expenses arising from such delay including, without limitation, loss of time, loss of profit or earningsVESSEL. Furthermore, if the delay in delivery of the BUYER’s supplied items should exceed Fifteen fifteen (15) days, the SELLER shall be entitled to proceed with construction of the VESSEL without installation of such items in or onto the VESSEL, without prejudice to the SELLER’s right hereinabove provided, and the BUYER shall (subject to the terms of the Contract) accept the VESSEL so completed, provided it otherwise being in compliance with the Contract and the Specifications. Shipbuilding Contract Hull No. 0120833 The BUILDER BUILDERS shall be responsible for storing and handling of the BUYER’s supplies as Date: 24/63 Shipbuilding Contract Hull No. specified in the Specifications after delivery to the BUILDER SSC’s shipyard and shall install them on board the VESSEL at the SELLER’s cost and expenseBUILDERS’ expenses. Upon arrival of such shipment of the BUYER’s supplied items, the BUILDER and the BUYER both parties shall undertake a joint unpacking inspection. If any damages are found so that the BUYER’s supplied items are to be not suitable for installation, the BUILDER BUILDERS shall be entitled to refuse to accept the BUYER’s supplied items. Date: 25/63 Shipbuilding Contract Hull No. 0120833.

BUYER’S SUPPLIED ITEMS. The BUYER shall deliver to the BUILDER SELLER at its shipyard the SELLER’s Shipyard the items as specified in the Specifications which the BUYER shall supply on BUYER’s its account by the time designated by the SELLER. The SELLER shall at all times if requested (whether by the Supervisor or otherwise) provide all reasonable assistance to the BUYER in connection with any formal documentary and customs clearance for the import into the People’s Republic of China of the BUYER’s supplied items. Should the BUYER fail to deliver to the BUILDER SELLER such items BUYER’s Supplies within the time specified, the delivery of the VESSEL shall at automatically be extended for a period of such delay, provided such delay in delivery of the BUYER’s supplied items Supplies shall affect the delivery of the VESSEL. In such event, the BUYER shall (subject to the SELLER’s obligation to mitigate any loss or damage) pay to the SELLER all losses direct and damages documented costs or expenses sustained and properly evidenced by the SELLER due to such delay in the delivery of the BUYER’s supplied items Supplier and such payment shall be made upon delivery of the VESSEL. During any period when the BUYER’s supplies are delayed, the SELLER shall continue with the construction of the VESSEL Provided that as far as possible and shall use its best endeavours to minimize any postponement of the BUYER shall not, in any circumstances, be liable for any consequential loss or special loss, or expenses arising from such delay including, without limitation, loss of time, loss of profit or earningsDelivery Date. Furthermore, if the delay in delivery of the BUYER’s supplied items supplies should exceed Fifteen twenty one (1521) days, the SELLER shall be entitled to proceed proceed, (or if instructed in writing by the BUYER, the SELLER shall proceed) with construction of the VESSEL without installation of such items in or onto the VESSEL, without prejudice to the SELLER’s right hereinabove provided, and the BUYER shall (subject to the terms of the Contract) accept the VESSEL so completed, provided it otherwise being in compliance with the Contract and the Specifications. Shipbuilding Contract Hull No. 0120833 The BUILDER SELLER shall be responsible for storing and handling of the BUYER’s 's supplies as specified in the Specifications after delivery to the BUILDER SELLER and shall install them on board the VESSEL at the SELLER’s cost and 's expense. Upon arrival of such shipment of the BUYER’s 's supplied items, the BUILDER and the BUYER both parties shall undertake a joint unpacking inspection. If any damages are damaged item is found so that the BUYER’s supplied items are to be not suitable for installation, the BUILDER SELLER shall be entitled to refuse to accept the BUYER’s 's supplied items. Shipbuilding However, if requested by the BUYER the SELLER may repair or adjust BUYER’s supplied item at an agreed cost. In the event of cancellation and/or rescission of the Contract Hull No. 0120833by the BUYER in accordance with the Contract, the SELLER will return all the BUYER's supplies or compensate the BUYER for the BUYER’S supplies at the BUYER’s invoice price.

BUYER’S SUPPLIED ITEMS. The BUYER shall deliver to the BUILDER SELLER at its shipyard the items as specified in the Specifications which the BUYER shall supply on BUYER’s its account by the time designated by the SELLER. Shipbuilding Contract Hull No. Should the BUYER fail to deliver to the BUILDER such items within the time specified, the delivery of the VESSEL shall automatically be extended for a period of such delay, provided such delay in delivery of the BUYER’s supplied items shall affect the delivery of the VESSEL. In such event, the BUYER shall (subject to the SELLER’s obligation to mitigate any loss or damage) pay to the SELLER all reasonably incurred losses and damages damages, if any, sustained and properly evidenced by the SELLER due to such delay in the delivery of the BUYER’s supplied items and such payment shall be made upon delivery of the VESSEL Provided that the BUYER shall not, in any circumstances, be liable for any consequential loss or special loss, or expenses arising from such delay including, without limitation, loss of time, loss of profit or earningsVESSEL. Furthermore, if the delay in delivery of the BUYER’s supplied items should exceed Fifteen fifteen (15) days, the SELLER shall be entitled to proceed with construction of the VESSEL without installation of such items in or onto the VESSEL, without prejudice to the SELLER’s right hereinabove provided, and the BUYER shall (subject to the terms of the Contract) accept the VESSEL so completed, provided it otherwise being in compliance with the Contract and the Specifications. Shipbuilding Contract Hull No. 0120833 The BUILDER shall be responsible for storing and handling of the BUYER’s supplies as specified in the Specifications after delivery to the BUILDER and shall install them on board the VESSEL at the SELLERBUILDER’s cost and expenseexpenses. Upon arrival of such shipment of the BUYERBuyer’s supplied items, the BUILDER and the BUYER both parties shall undertake a an joint unpacking inspection. If any damages are found so that the BUYER’s supplied items are to be not suitable for installation, the BUILDER shall be entitled to refuse to accept the BUYER’s supplied items. Shipbuilding Contract Hull No. 0120833.

BUYER’S SUPPLIED ITEMS. The BUYER shall deliver to the BUILDER SELLER at its shipyard the items as specified in the Specifications which the BUYER shall supply on BUYER’s account (hereinafter called the “BUYER's Supplied Items”) by the time designated by the SELLER. Should the BUYER fail to deliver to the BUILDER such items BUYER's Supplied Items within the time specified, the delivery of the VESSEL shall automatically be extended for a period of such delay, provided such delay in delivery of the BUYER’s supplied items 's Supplied Items shall affect the delivery of the VESSEL. In such event, the BUYER shall (subject to the SELLER’s obligation to mitigate any loss or damage) pay to the SELLER all losses and damages sustained and properly evidenced by the SELLER due to such delay in the delivery of the BUYER’s supplied items 's Supplied Items and such payment shall be made upon delivery of the VESSEL Provided that the BUYER shall not, in any circumstances, be liable for any consequential loss or special loss, or expenses arising from such delay including, without limitation, loss of time, loss of profit or earningsVESSEL. Shipbuilding Contract Hull No.H1596 Furthermore, if the delay in delivery of the BUYER’s supplied items 's Supplied Items should exceed Fifteen fifteen (15) calendar days, the SELLER shall be entitled to proceed with construction of the VESSEL without installation of such items in or onto the VESSEL, without prejudice to the SELLER’s 's right hereinabove provided, and the BUYER shall (subject to the terms of the Contract) accept the VESSEL so completed, provided it otherwise being in compliance with the Contract and the Specifications. Shipbuilding Contract Hull No. 0120833 The BUILDER shall be responsible for storing and handling of the BUYER’s supplies 's Supplied Items as specified in the Specifications after delivery to the BUILDER at no cost and shall install them on board the VESSEL at the SELLERBUILDER's expenses. In order to facilitate installation by the BUILDER of the BUYER’s cost Supplied Items in or on the VESSEL, the BUYER shall furnish the BUILDER with the necessary specifications, plans, drawings, instruction books, manuals, test reports and expensecertificates required by the rules and regulations of the Specifications. If so requested by the BUILDER, the BUYER shall, without any charge to the BUILDER, cause the representatives of the manufacturers of the BUYER’s Supplied Items to assist the BUILDER in installation thereof in or on the VESSEL and/or to carry out installation thereof by themselves or to make necessary adjustments at the Shipyard. Any and all of BUYER’s Supplied Items shall be subject to the BUILDER’s reasonable right of rejection, as and if they are found to be unsuitable or in improper condition for installation. Upon arrival of such shipment of the BUYER’s supplied itemsSupplied Items, the BUILDER and the BUYER both parties shall undertake a joint unpacking inspection. If any damages are found so that the BUYER’s supplied items are to be not suitable for installation, the BUILDER shall be entitled to refuse to accept the BUYER’s supplied itemsSupplied Items. Shipbuilding Contract Hull No. 0120833.H1596

BUYER’S SUPPLIED ITEMS. The BUYER shall deliver to the BUILDER at its shipyard Shipyard the items as specified in the Specifications which the BUYER shall supply on the BUYER’s account by the time designated by the SELLER. Should the BUYER fail to deliver to the BUILDER such items within the time specified, the delivery of the VESSEL shall automatically be extended for a period of such delay, provided such delay in delivery of the BUYER’s supplied items shall affect the delivery of the VESSEL. In such event, the BUYER shall (subject to the SELLER’s obligation to mitigate any loss or damage) pay to the SELLER all losses and damages sustained and properly evidenced by the SELLER due to such delay in the delivery of the BUYER’s supplied items and such payment shall be made upon delivery of the VESSEL Provided that the BUYER shall not, in any circumstances, be liable for any consequential loss or special loss, or expenses arising from such delay including, without limitation, loss of time, loss of profit or earnings. Furthermore, if the delay in delivery of the BUYER’s supplied items should exceed Fifteen Thirty (1530) days, the SELLER shall be entitled to proceed with construction of the VESSEL without installation of such items in or onto the VESSEL, without prejudice to the SELLER’s right hereinabove provided, and the BUYER shall (subject to the terms of the Contract) accept the VESSEL so completed, provided it otherwise being in compliance with the Contract and the Specifications. Shipbuilding Contract Hull No. 0120833 The BUILDER shall be responsible for storing and handling of the BUYER’s supplies as specified in the Specifications after delivery to the BUILDER and shall install them on board the VESSEL at the SELLER’s cost and expense. Upon arrival of such shipment of the BUYER’s supplied itemsitem, the BUILDER and the BUYER shall undertake a joint unpacking inspection. If any damages are found so that the Date: 19/58 Shipbuilding Contract Hull No. BUYER’s supplied items are to be not suitable for installation, the BUILDER shall be entitled to refuse to accept the BUYER’s supplied items. Date: 20/58 Shipbuilding Contract Hull No. 0120833.

BUYER’S SUPPLIED ITEMS. The BUYER shall deliver to the BUILDER at its BUILDER’s shipyard the items as specified in the Specifications which the BUYER shall supply on BUYER’s account (the “BUYER’s Supplied Items”) by the time designated by the SELLER. The SELLER shall provide the BUYER with a delivery schedule for the BUYER’s Supplied Items as soon as possible after execution of the Contract and The BUYER shall provide the SELLER with a delivery time for the BUYER’s Supplied Items as soon as possible after execution of the Contract but no earlier than having received the SELLER’s delivery schedule. Should the BUYER fail to deliver to the BUILDER such items the BUYER’s Supplied Items which are to be installed on the VESSEL within the time specified, the delivery of the VESSEL shall automatically be extended for a period of such delay, provided such delay in delivery of the BUYER’s supplied items Supplied Items shall cause delay in construction of the VESSEL and affect the timely delivery of the VESSEL, and provided further that the SELLER complies with the notice provision in this Contract in relation to such delay. In such event, the BUYER shall (subject to the SELLER’s obligation to mitigate any loss or damage) pay to the SELLER all losses and damages sustained and properly evidenced by the SELLER due to such delay in the delivery of the BUYER’s supplied items Supplied Items and such payment shall be made upon delivery of the VESSEL Provided as part of the second instalment referred to in Article II provided that the SELLER shall have given the BUYER shall notthe time schedule referred to above two (2) months prior to installation onboard, and provided that the SELLER have given the BUYER written notice of any delay in any circumstances, be liable BUYER’s supplied items and the necessary document or advice for any consequential loss or special loss, or expenses arising from such supplies as soon as the delay including, without limitation, loss of time, loss of profit or earningsoccurs. Furthermore, if the any delay in delivery of the BUYER’s supplied items Supplied Items should exceed Fifteen fifteen (15) days, the SELLER shall be entitled to proceed with the construction of the VESSEL without installation of such items in or onto the VESSEL, without prejudice to the SELLER’s right hereinabove provided, and the BUYER shall (subject to the terms of the Contract) accept the VESSEL so completed, provided it otherwise being in compliance with the Contract and the Specifications. Shipbuilding Contract For Construction of One 82,000 DWT Bulk Carrier (Hull No. 0120833 .YZJ2013-1144) The BUILDER shall be responsible for storing and handling of the BUYER’s supplies Supplied Items as specified in the Specifications after delivery to the BUILDER and shall install them on board the VESSEL at the SELLERBUILDER’s cost and expenseexpenses. Upon arrival of such shipment of the BUYER’s supplied itemsSupplied Items, the BUILDER and the BUYER both parties shall undertake a joint unpacking inspection. If any damages are found so to a supplied item that the BUYER’s supplied items are not suitable make it unsuitable for installation, the BUILDER BUILDER, after consulting the BUYER, shall be entitled to refuse to accept the BUYER’s supplied itemsdamaged/defective item. However, upon request by the BUYER the SELLER shall assist the BUYER to (i) repair the damaged or defective item, if the SELLER is able to do so, subject to payment by the BUYER of the reasonable proven costs incurred in such repair and/or (ii) accept delivery of a replacement item. Shipbuilding Contract For Construction of One 82,000 DWT Bulk Carrier (Hull No. 0120833.YZJ2013-1144)

BUYER’S SUPPLIED ITEMS. The BUYER shall deliver to the BUILDER SELLER at its shipyard the items as specified in the Specifications which the BUYER shall supply on BUYER’s account (hereinafter called the “BUYER's Supplied Items”) by the time designated by the SELLER. Should the BUYER fail to deliver to the BUILDER such items BUYER's Supplied Items within the time specified, the delivery of the VESSEL shall automatically be extended for a period of such delay, provided such delay in delivery of the BUYER’s supplied items 's Supplied Items shall affect the delivery of the VESSEL. In such event, the BUYER shall (subject to the SELLER’s obligation to mitigate any loss or damage) pay to the SELLER all losses and damages sustained and properly evidenced by the SELLER due to such delay in the delivery of the BUYER’s supplied items 's Supplied Items and such payment shall be made upon delivery of the VESSEL Provided that the BUYER shall not, in any circumstances, be liable for any consequential loss or special loss, or expenses arising from such delay including, without limitation, loss of time, loss of profit or earningsVESSEL. Furthermore, if the delay in delivery of the BUYER’s supplied items 's Supplied Items should exceed Fifteen fifteen (15) calendar days, the SELLER shall be entitled to proceed with construction of the VESSEL without installation of such items in or onto the VESSEL, without prejudice to the SELLER’s 's right hereinabove provided, and the BUYER shall (subject to the terms of the Contract) accept the VESSEL so completed, provided it otherwise being in compliance with the Contract and the Specifications. Shipbuilding Contract Hull No. 0120833 The BUILDER shall be responsible for storing and handling of the BUYER’s supplies 's Supplied Items as specified in the Specifications after delivery to the BUILDER at no cost and shall install them on board the VESSEL at the SELLERBUILDER's expenses. In order to facilitate installation by the BUILDER of the BUYER’s cost Supplied Items in or on the VESSEL, the BUYER shall furnish the BUILDER with the necessary specifications, plans, drawings, instruction books, manuals, test reports and expensecertificates required by the rules and regulations of the Specifications. If so requested by the BUILDER, the BUYER shall, without any charge to the BUILDER, cause the representatives of the manufacturers of the BUYER’s Supplied Items to assist the BUILDER in installation thereof in or on the VESSEL and/or to carry out installation thereof by themselves or to make necessary adjustments at the Shipyard. Any and all of BUYER’s Supplied Items shall be subject to the BUILDER’s reasonable right of rejection, as and if they are found to be unsuitable or in improper condition for installation. Upon arrival of such shipment of the BUYER’s supplied itemsSupplied Items, the BUILDER and the BUYER both parties shall undertake a joint unpacking inspection. If any damages are found so that the BUYER’s supplied items are to be not suitable for installation, the BUILDER shall be entitled to refuse to accept the BUYER’s supplied items. Shipbuilding Contract Hull No. 0120833Supplied Items.

BUYER’S SUPPLIED ITEMS. The BUYER shall deliver to the BUILDER SELLER at its shipyard the items as specified in the Specifications which the BUYER shall supply on BUYER’s account (hereinafter called the “BUYER's Supplied Items”) by the time designated by the SELLER. Should the BUYER fail to deliver to the BUILDER such items BUYER's Supplied Items within the time specified, the delivery of the VESSEL shall automatically be extended for a period of such delay, provided such delay in delivery of the BUYER’s supplied items 's Supplied Items shall affect the delivery of the VESSEL. In such event, the BUYER shall (subject to the SELLER’s obligation to mitigate any loss or damage) pay to the SELLER all losses and damages sustained and properly evidenced by the SELLER due to such delay in the delivery of the BUYER’s supplied items 's Supplied Items and such payment shall be made upon delivery of the VESSEL Provided that the BUYER shall not, in any circumstances, be liable for any consequential loss or special loss, or expenses arising from such delay including, without limitation, loss of time, loss of profit or earningsVESSEL. Shipbuilding Contract Hull No.H1597 Furthermore, if the delay in delivery of the BUYER’s supplied items 's Supplied Items should exceed Fifteen fifteen (15) calendar days, the SELLER shall be entitled to proceed with construction of the VESSEL without installation of such items in or onto the VESSEL, without prejudice to the SELLER’s 's right hereinabove provided, and the BUYER shall (subject to the terms of the Contract) accept the VESSEL so completed, provided it otherwise being in compliance with the Contract and the Specifications. Shipbuilding Contract Hull No. 0120833 The BUILDER shall be responsible for storing and handling of the BUYER’s supplies 's Supplied Items as specified in the Specifications after delivery to the BUILDER at no cost and shall install them on board the VESSEL at the SELLERBUILDER's expenses. In order to facilitate installation by the BUILDER of the BUYER’s cost Supplied Items in or on the VESSEL, the BUYER shall furnish the BUILDER with the necessary specifications, plans, drawings, instruction books, manuals, test reports and expensecertificates required by the rules and regulations of the Specifications. If so requested by the BUILDER, the BUYER shall, without any charge to the BUILDER, cause the representatives of the manufacturers of the BUYER’s Supplied Items to assist the BUILDER in installation thereof in or on the VESSEL and/or to carry out installation thereof by themselves or to make necessary adjustments at the Shipyard. Any and all of BUYER’s Supplied Items shall be subject to the BUILDER’s reasonable right of rejection, as and if they are found to be unsuitable or in improper condition for installation. Upon arrival of such shipment of the BUYER’s supplied itemsSupplied Items, the BUILDER and the BUYER both parties shall undertake a joint unpacking inspection. If any damages are found so that the BUYER’s supplied items are to be not suitable for installation, the BUILDER shall be entitled to refuse to accept the BUYER’s supplied itemsSupplied Items. Shipbuilding Contract Hull No. 0120833.H1597

BUYER’S SUPPLIED ITEMS. The BUYER shall deliver to the BUILDER at its BUILDER’s shipyard the items as specified in the Specifications which the BUYER shall supply on BUYER’s account (the “BUYER’s Supplied Items”) by the time designated by the SELLER. The SELLER shall provide the BUYER with a delivery schedule for the BUYER’s Supplied Items as soon as possible after execution of the Contract and The BUYER shall provide the SELLER with a delivery time for the BUYER’s Supplied Items as soon as possible after execution of the Contract but no earlier than having received the SELLER’s delivery schedule. Should the BUYER fail to deliver to the BUILDER such items the BUYER’s Supplied Items which are to be installed on the VESSEL within the time specified, the delivery of the VESSEL shall automatically be extended for a period of such delay, provided such delay in delivery of the BUYER’s supplied items Supplied Items shall cause delay in construction of the VESSEL and affect the timely delivery of the VESSEL, and provided further that the SELLER complies with the notice provision in this Contract in relation to such delay. In such event, the BUYER shall (subject to the SELLER’s obligation to mitigate any loss or damage) pay to the SELLER all losses and damages sustained and properly evidenced by the SELLER due to such delay in the delivery of the BUYER’s supplied items Supplied Items and such payment shall be made upon delivery of the VESSEL Provided as part of the second instalment referred to in Article II provided that the SELLER shall have given the BUYER shall notthe time schedule referred to above two (2) months prior to installation onboard, and provided that the SELLER have given the BUYER written notice of any delay in any circumstances, be liable BUYER’s supplied items and the necessary document or advice for any consequential loss or special loss, or expenses arising from such supplies as soon as the delay including, without limitation, loss of time, loss of profit or earningsoccurs. Furthermore, if the any delay in delivery of the BUYER’s supplied items Supplied Items should exceed Fifteen fifteen (15) days, the SELLER shall be entitled to proceed with the construction of the VESSEL without installation of such items in or onto the VESSEL, without prejudice to the SELLER’s right hereinabove provided, and the BUYER shall (subject to the terms of the Contract) accept the VESSEL so completed, provided it otherwise being in compliance with the Contract and the Specifications. Shipbuilding Contract For Construction of One 82,000 DWT Bulk Carrier (Hull No. 0120833 .YZJ2013-1142) The BUILDER shall be responsible for storing and handling of the BUYER’s supplies Supplied Items as specified in the Specifications after delivery to the BUILDER and shall install them on board the VESSEL at the SELLERBUILDER’s cost and expenseexpenses. Upon arrival of such shipment of the BUYER’s supplied itemsSupplied Items, the BUILDER and the BUYER both parties shall undertake a joint unpacking inspection. If any damages are found so to a supplied item that the BUYER’s supplied items are not suitable make it unsuitable for installation, the BUILDER BUILDER, after consulting the BUYER, shall be entitled to refuse to accept the BUYER’s supplied itemsdamaged/defective item. However, upon request by the BUYER the SELLER shall assist the BUYER to (i) repair the damaged or defective item, if the SELLER is able to do so, subject to payment by the BUYER of the reasonable proven costs incurred in such repair and/or (ii) accept delivery of a replacement item. Shipbuilding Contract For Construction of One 82,000 DWT Bulk Carrier (Hull No. 0120833.YZJ2013-1142)

BUYER’S SUPPLIED ITEMS. The BUYER shall deliver to the BUILDER SELLER at its shipyard the SELLER’s Shipyard the items as specified in the Specifications which the BUYER shall supply on BUYER’s its account by the time designated by the SELLER. The SELLER shall at all times if requested (whether by the Supervisor or otherwise) provide all reasonable assistance to the BUYER in connection with any formal documentary and customs clearance for the import into the People’s Republic of China of the BUYER’s supplied items. Should the BUYER fail to deliver to the BUILDER SELLER such items BUYER’s Supplies within the time specified, the delivery of the VESSEL shall at automatically be extended for a period of such delay, provided such delay in delivery of the BUYER’s supplied items Supplies shall affect the delivery of the VESSEL. In such event, the BUYER shall (subject to the SELLER’s obligation to mitigate any loss or damage) pay to the SELLER all losses direct and damages documented costs or expenses sustained and properly evidenced by the SELLER due to such delay in the delivery of the BUYER’s supplied items Supplier and such payment shall be made upon delivery of the VESSEL. During any period when the BUYER’s supplies are delayed, the SELLER shall continue with the construction of the VESSEL Provided that as far as possible and shall use its best endeavours to minimize any postponement of the BUYER shall not, in any circumstances, be liable for any consequential loss or special loss, or expenses arising from such delay including, without limitation, loss of time, loss of profit or earningsDelivery Date. Furthermore, if the delay in delivery of the BUYER’s supplied items supplies should exceed Fifteen twenty one (1521) days, the SELLER shall be entitled to proceed proceed, (or if instructed in writing by the BUYER, the SELLER shall proceed) with construction of the VESSEL without installation of such items in or onto the VESSEL, without prejudice to the SELLER’s right hereinabove provided, and the BUYER shall (subject to the terms of the Contract) accept the VESSEL so completed, provided it otherwise being in compliance with the Contract and the Specifications. Shipbuilding Contract Hull No. 0120833 The BUILDER SELLER shall be responsible for storing and handling of the BUYER’s 's supplies as specified in the Specifications after delivery to the BUILDER SELLER and shall install them on board the VESSEL at the SELLER’s cost and 's expense. Upon arrival of such shipment of the BUYER’s 's supplied items, the BUILDER and the BUYER both parties shall undertake a joint unpacking inspection. If any damages are damaged item is found so that the BUYER’s supplied items are to be not suitable for installation, the BUILDER SELLER shall be entitled to refuse to accept the BUYER’s 's supplied items. Shipbuilding However, if requested by the BUYER the SELLER may repair or adjust BUYER’s supplied item at an agreed cost. In the event of cancellation and/or rescission of the Contract Hull Noby the BUYER in accordance with the Contract, the SELLER will return all the BUYER's supplies or compensate the BUYER for the BUYER’S supplies at the BUYER’s invoice price. 0120833Date: 13th November, 2013

BUYER’S SUPPLIED ITEMS. The BUYER shall deliver to the BUILDER SELLER at its shipyard the items as specified in the Specifications which the BUYER shall supply on its account (the “BUYER’s account Supplied Items”) by the time designated by the SELLER. Should the BUYER fail to deliver to the BUILDER such items within the time specified, the delivery of the VESSEL Delivery Date shall automatically be extended for a the period of such delay, provided by which such delay in delivery of the BUYER’s supplied items shall affect Supplied Items causes delay to the delivery of the VESSEL. In such event, the BUYER shall (subject to the SELLER’s obligation to mitigate any loss or damage) pay to the SELLER all losses and damages sustained and properly evidenced by the SELLER due to such delay in the delivery of the BUYER’s supplied items and such payment shall be made upon delivery of the VESSEL Provided that the BUYER shall not, in any circumstances, be liable for any consequential loss or special loss, or expenses arising from such delay including, without limitation, loss of time, loss of profit or earningsVESSEL. Furthermore, if the delay in delivery of the BUYER’s supplied items Supplied Items should exceed Fifteen fifteen (15) days, the SELLER shall be entitled to proceed with construction of the VESSEL without installation of such items in or onto the VESSEL, without prejudice to the SELLER’s right hereinabove provided, and the BUYER shall (subject to the terms of the Contract) accept the VESSEL so completed, provided it otherwise being in compliance with the Contract and the Specifications. Shipbuilding Contract Hull No. 0120833 The BUILDER shall be responsible for storing and handling of the BUYER’s supplies as specified in the Specifications Supplied Items after delivery to the BUILDER and shall install them on board the VESSEL at the SELLERBUILDER’s cost and expenseexpenses. Upon arrival of such shipment of the BUYER’s supplied itemsSupplied Items, the BUILDER and the BUYER both parties shall undertake a joint unpacking inspection. If any damages are found so that the BUYER’s supplied items are to be not suitable for installation, the BUILDER shall be entitled to refuse to accept the BUYER’s supplied itemsSupplied Items. Shipbuilding Contract Hull NoThe SELLER shall arrange the customs formalities for the BUYER’s Supplied Items at the BUYER’s cost, however, the BUYER shall send the list of the BUYER’s Supplied Items with description, quantities, unit price and country of origin to the SELLER at least 20 days before shipment. 0120833The shipping documents shall be made in a form acceptable to the SELLER and sent to the SELLER in due course so that the SELLER can arrange the customs formalities in time.

BUYER’S SUPPLIED ITEMS. The BUYER shall deliver to the BUILDER at its BUILDER’s shipyard the items as specified in the Specifications which the BUYER shall supply on BUYER’s account (the “BUYER’s Supplied Items”) by the time designated by the SELLER. The SELLER shall provide the BUYER with a delivery schedule for the BUYER’s Supplied Items as soon as possible after execution of the Contract and The BUYER shall provide the SELLER with a delivery time for the BUYER’s Supplied Items as soon as possible after execution of the Contract but no earlier than having received the SELLER’s delivery schedule. Should the BUYER fail to deliver to the BUILDER such items the BUYER’s Supplied Items which are to be installed on the VESSEL within the time specified, the delivery of the VESSEL shall automatically be extended for a period of such delay, provided such delay in delivery of the BUYER’s supplied items Supplied Items shall cause delay in construction of the VESSEL and affect the timely delivery of the VESSEL, and provided further that the SELLER complies with the notice provision in this Contract in relation to such delay. In such event, the BUYER shall (subject to the SELLER’s obligation to mitigate any loss or damage) pay to the SELLER all losses and damages sustained and properly evidenced by the SELLER due to such delay in the delivery of the BUYER’s supplied items Supplied Items and such payment shall be made upon delivery of the VESSEL Provided as part of the second instalment referred to in Article II provided that the SELLER shall have given the BUYER shall notthe time schedule referred to above two (2) months prior to installation onboard, and provided that the SELLER have given the BUYER written notice of any delay in any circumstances, be liable BUYER’s supplied items and the necessary document or advice for any consequential loss or special loss, or expenses arising from such supplies as soon as the delay including, without limitation, loss of time, loss of profit or earningsoccurs. Furthermore, if the any delay in delivery of the BUYER’s supplied items Supplied Items should exceed Fifteen fifteen (15) days, the SELLER shall be entitled to proceed with the construction of the VESSEL without installation of such items in or onto the VESSEL, without prejudice to the SELLER’s right hereinabove provided, and the BUYER shall (subject to the terms of the Contract) accept the VESSEL so completed, provided it otherwise being in compliance with the Contract and the Specifications. Shipbuilding Contract For Construction of One 82,000 DWT Bulk Carrier (Hull No. 0120833 .YZJ2013-1145) The BUILDER shall be responsible for storing and handling of the BUYER’s supplies Supplied Items as specified in the Specifications after delivery to the BUILDER and shall install them on board the VESSEL at the SELLERBUILDER’s cost and expenseexpenses. Upon arrival of such shipment of the BUYER’s supplied itemsSupplied Items, the BUILDER and the BUYER both parties shall undertake a joint unpacking inspection. If any damages are found so to a supplied item that the BUYER’s supplied items are not suitable make it unsuitable for installation, the BUILDER BUILDER, after consulting the BUYER, shall be entitled to refuse to accept the BUYER’s supplied itemsdamaged/defective item. However, upon request by the BUYER the SELLER shall assist the BUYER to (i) repair the damaged or defective item, if the SELLER is able to do so, subject to payment by the BUYER of the reasonable proven costs incurred in such repair and/or (ii) accept delivery of a replacement item. Shipbuilding Contract For Construction of One 82,000 DWT Bulk Carrier (Hull No. 0120833.YZJ2013-1145)