Common use of BUYER’S SUPPLIED ITEMS Clause in Contracts

BUYER’S SUPPLIED ITEMS. The BUYER shall deliver to the SELLER at its shipyard the items as specified in the Specifications which the BUYER shall supply on its account by the time mutually agreed by the SELLER and the BUYER. Should the BUYER fail to deliver to the SELLER such items within the time, 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 actually have affected the delivery of the VESSEL. In such event, the BUYER shall pay to the SELLER all losses and damages sustained 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, but only provided that the construction program is actually affected. Furthermore, if the delay in delivery of the BUYER’s supplied items should exceed twenty (20) 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 accept the VESSEL, so completed. The SELLER shall be responsible for safely storing and handling of the BUYER’s supplies as specified in the Specifications after delivery to the 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 supplied items, if any, will be borne by the Buyer. Upon arrival of such shipment of the Buyer’s supplied items, both parties shall undertake a joint unpacking inspection. if any damages are found to be not suitable for installation, the SELLER shall be entitled to refuse to accept the BUYER’s supplied items.

BUYER’S SUPPLIED ITEMS. The BUYER shall deliver to the SELLER BUILDER at its shipyard the items as specified in the Specifications which the BUYER shall supply on its BUYER’s account by the time mutually agreed designated by the SELLER and the BUYERSELLER. Should the BUYER fail to deliver to the SELLER BUILDER such items within the time, agreedtime specified, 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 actually have affected 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 ’s supplied items and such payment shall be made upon delivery of the VESSEL, but only provided VESSEL Provided that the construction program is actually affectedBUYER 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 twenty Fifteen (2015) 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 SELLER BUILDER shall be responsible for safely storing and handling of the BUYER’s supplies as specified in the Specifications after delivery to the SELLER BUILDER and shall install and secure them on board the VESSEL at the SELLER’S expenses. The extra ’s cost for material installation or testing for Buyer’s supplied items, if any, will be borne by the Buyerand expense. Upon arrival of such shipment of the BuyerBUYER’s supplied items, both parties the BUILDER and the BUYER shall undertake a joint unpacking inspection. if If any damages are found to be so that the BUYER’s supplied items are not suitable for installation, the SELLER 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 SELLER at its shipyard the items as specified in the Specifications which the BUYER shall supply on its account by the time mutually agreed by the SELLER and the BUYER. Should the BUYER fail to deliver to the SELLER BUILDER such items within the time, 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 actually have affected the delivery of the VESSEL. In such event, the BUYER shall pay to the SELLER all losses and damages sustained 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, but only provided that the construction program is actually affected. Furthermore, if the delay in delivery of the BUYER’s supplied items should exceed twenty (20) 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 accept the VESSEL, VESSEL so completed. The SELLER shall be responsible for safely storing and handling of the BUYER’s supplies as specified in the Specifications after delivery to the SELLER BUILDER and shall install and secure them on board the VESSEL at the SELLER’S ’s expenses. The extra cost for material installation or testing for Buyer’s supplied items, if any, will be borne by the Buyer. Upon arrival of such shipment of the Buyer’s supplied items, both parties shall undertake a joint unpacking inspection. if If any damages are found to be not suitable for installation, the SELLER shall be entitled to refuse to accept the BUYER’s supplied items.

BUYER’S SUPPLIED ITEMS. The BUYER shall deliver to the SELLER at its shipyard the SELLER’s Shipyard the items as specified in the Specifications which the BUYER shall supply on its account by the time mutually agreed 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 SELLER such items BUYER’s Supplies within the time, agreedtime specified, the delivery of the VESSEL shall at automatically be extended for a period of such delay, provided always that such delay in delivery of the BUYER’s supplied items Supplies shall actually have affected affect the delivery of the VESSEL. In such event, the BUYER shall pay to the SELLER all losses direct and damages documented costs or expenses sustained by the SELLER due to such delay in the delivery of the BUYER’S supplied items ’s Supplier and such payment shall be made upon delivery of the VESSEL. During any period when the BUYER’s supplies are delayed, but only provided that the SELLER shall continue with the construction program is actually affectedof the VESSEL as far as possible and shall use its best endeavours to minimize any postponement of the Delivery Date. Furthermore, if the delay in delivery of the BUYER’s supplied items supplies should exceed twenty one (2021) days, the SELLER shall be entitled to proceed proceed, (or if instructed in writing by the BUYER, the SELLER shall 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 accept the VESSEL, VESSEL so completed. The SELLER shall be responsible for safely storing and handling of the BUYER’s 's supplies as specified in the Specifications after delivery to the 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 supplied items, if any, will be borne by the Buyer's expense. Upon arrival of such shipment of the Buyer’s BUYER's supplied items, both parties shall undertake a joint unpacking inspection. if If any damages are damaged item is found to be not suitable for installation, the SELLER shall be entitled to refuse to accept the BUYER's supplied items. However, if requested by the BUYER the SELLER may repair or adjust BUYER’s supplied items.item at an agreed cost. In the event of cancellation and/or rescission of the Contract by 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. Date: 13th November, 2013

BUYER’S SUPPLIED ITEMS. The BUYER shall deliver to the SELLER at its shipyard the items as specified in the Specifications which the BUYER shall supply on its account by the time mutually agreed designated by the SELLER and the BUYERSELLER. Should the BUYER fail to deliver to the SELLER BUILDERS such items within the time, agreedtime specified, 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 actually have affected affect the construction and/or delivery of the VESSEL. In such event, the BUYER shall pay to the SELLER all losses and damages sustained 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, but only provided that the construction program is actually affected. Furthermore, if the delay in delivery of the BUYER’s supplied items should exceed twenty fifteen (2015) 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 accept the VESSEL, VESSEL so completed. The SELLER BUILDERS shall be responsible for safely storing and handling of the BUYER’s supplies as Date: 24/63 Shipbuilding Contract Hull No. specified in the Specifications after delivery to the SELLER SSC’s shipyard and shall install and secure them on board the VESSEL at the SELLER’S BUILDERS’ expenses. The extra cost for material installation or testing for Buyer’s supplied items, if any, will be borne by the Buyer. Upon arrival of such shipment of the BuyerBUYER’s supplied items, both parties shall undertake a joint unpacking inspection. if If any damages are found to be not suitable for installation, the SELLER BUILDERS shall be entitled to refuse to accept the BUYER’s supplied items. Date: 25/63 Shipbuilding Contract Hull No.

BUYER’S SUPPLIED ITEMS. The BUYER shall deliver to the SELLER at its BUILDER’s shipyard the items as specified in the Specifications which the BUYER shall supply on its BUYER’s account (the “BUYER’s Supplied Items”) by the time mutually agreed designated by the SELLER. The SELLER and 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 SELLER such items BUILDER the BUYER’s Supplied Items which are to be installed on the VESSEL within the time, agreedtime specified, 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 Supplied Items shall actually have affected 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 pay to the SELLER all losses and damages sustained 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, but only VESSEL as part of the second instalment referred to in Article II provided that the construction program is actually affectedSELLER shall have given the BUYER the 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 BUYER’s supplied items and the necessary document or advice for such supplies as soon as the delay occurs. Furthermore, if the any delay in delivery of the BUYER’s supplied items Supplied Items should exceed twenty fifteen (2015) 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 accept the VESSEL, VESSEL so completed. Shipbuilding Contract For Construction of One 82,000 DWT Bulk Carrier (Hull No.YZJ2013-1142) The SELLER BUILDER shall be responsible for safely storing and handling of the BUYER’s supplies Supplied Items as specified in the Specifications after delivery to the SELLER BUILDER and shall install and secure them on board the VESSEL at the SELLER’S BUILDER’s expenses. The extra cost for material installation or testing for Buyer’s supplied items, if any, will be borne by the Buyer. Upon arrival of such shipment of the BuyerBUYER’s supplied itemsSupplied Items, both parties shall undertake a joint unpacking inspection. if If any damages are found to be not suitable a supplied item that make it unsuitable for installation, the SELLER BUILDER, after consulting the BUYER, shall be entitled to refuse to accept the BUYER’s supplied items.damaged/defective item. However, upon request by the BUYER the SELLER shall assist the BUYER to

BUYER’S SUPPLIED ITEMS. The BUYER shall deliver to the SELLER BUILDER at its shipyard Shipyard the items as specified in the Specifications which the BUYER shall supply on its the BUYER’s account by the time mutually agreed designated by the SELLER and the BUYERSELLER. Should the BUYER fail to deliver to the SELLER BUILDER such items within the time, agreedtime specified, 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 actually have affected affect the delivery of the VESSEL. In such event, the BUYER shall 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, but only provided VESSEL Provided that the construction program is actually affectedBUYER 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 twenty Thirty (2030) 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. The SELLER BUILDER shall be responsible for safely storing and handling of the BUYER’s supplies as specified in the Specifications after delivery to the SELLER BUILDER and shall install and secure them on board the VESSEL at the SELLER’S expenses. The extra ’s cost for material installation or testing for Buyer’s supplied items, if any, will be borne by the Buyerand expense. Upon arrival of such shipment of the BuyerBUYER’s supplied itemsitem, both parties the BUILDER and the BUYER shall undertake a joint unpacking inspection. if 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 SELLER BUILDER shall be entitled to refuse to accept the BUYER’s supplied items. Date: 20/58 Shipbuilding Contract Hull No.

BUYER’S SUPPLIED ITEMS. The BUYER shall deliver to the SELLER at its shipyard the items as specified in the Specifications which the BUYER shall supply on its BUYER’s account (hereinafter called the “BUYER's Supplied Items”) by the time mutually agreed designated by the SELLER and the BUYERSELLER. Should the BUYER fail to deliver to the SELLER BUILDER such items BUYER's Supplied Items within the time, agreedtime specified, 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 's Supplied Items shall actually have affected affect the delivery of the VESSEL. In such event, the BUYER shall pay to the SELLER all losses and damages sustained 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, but only provided that the construction program is actually affected. Shipbuilding Contract Hull No.H1596 Furthermore, if the delay in delivery of the BUYER’s supplied items 's Supplied Items should exceed twenty fifteen (2015) calendar 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 accept the VESSEL, VESSEL so completed. The SELLER BUILDER shall be responsible for safely storing and handling of the BUYER’s supplies 's Supplied Items as specified in the Specifications after delivery to the SELLER BUILDER at no cost and shall install and secure them on board the VESSEL at the SELLER’S BUILDER's expenses. The extra cost for material In order to facilitate installation or testing for Buyer’s supplied items, if any, will be borne by the BuyerBUILDER of the BUYER’s 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 certificates 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 BuyerBUYER’s supplied itemsSupplied Items, both parties shall undertake a joint unpacking inspection. if If any damages are found to be not suitable for installation, the SELLER BUILDER shall be entitled to refuse to accept the BUYER’s supplied itemsSupplied Items. Shipbuilding Contract Hull No.H1596

BUYER’S SUPPLIED ITEMS. The BUYER shall deliver to the SELLER at its shipyard the items as specified in the Specifications which the BUYER shall supply on its account (the “BUYER’s Supplied Items”) by the time mutually agreed designated by the SELLER and the BUYERSELLER. Should the BUYER fail to deliver to the SELLER BUILDER such items within the time, agreedtime specified, the delivery of the VESSEL Delivery Date shall automatically be extended for a the period of such delay, provided always that by which such delay in delivery of the BUYER’s supplied items shall actually have affected Supplied Items causes delay to the delivery of the VESSEL. In such event, the BUYER shall pay to the SELLER all losses and damages sustained 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, but only provided that the construction program is actually affected. Furthermore, if the delay in delivery of the BUYER’s supplied items Supplied Items should exceed twenty fifteen (2015) 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 accept the VESSEL, VESSEL so completed. The SELLER BUILDER shall be responsible for safely storing and handling of the BUYER’s supplies as specified in the Specifications Supplied Items after delivery to the SELLER BUILDER and shall install and secure them on board the VESSEL at the SELLER’S BUILDER’s expenses. The extra cost for material installation or testing for Buyer’s supplied items, if any, will be borne by the Buyer. Upon arrival of such shipment of the BuyerBUYER’s supplied itemsSupplied Items, both parties shall undertake a joint unpacking inspection. if If any damages are found to be not suitable for installation, the SELLER BUILDER shall be entitled to refuse to accept the BUYER’s supplied items.Supplied Items. The 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. The 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. Shipbuilding Contract For Construction of One 82,000 DWT Bulk Carrier (Hull No. )

BUYER’S SUPPLIED ITEMS. The BUYER shall deliver to the SELLER at its shipyard the items as specified in the Specifications which the BUYER shall supply on its account by the time mutually agreed designated by the SELLER and the BUYERSELLER. Shipbuilding Contract Hull No. Should the BUYER fail to deliver to the SELLER BUILDER such items within the time, agreedtime specified, 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 actually have affected affect the delivery of the VESSEL. In such event, the BUYER shall pay to the SELLER all reasonably incurred losses and damages damages, if any, sustained 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, but only provided that the construction program is actually affected. Furthermore, if the delay in delivery of the BUYER’s supplied items should exceed twenty fifteen (2015) 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 accept the VESSEL, VESSEL so completed. The SELLER BUILDER shall be responsible for safely storing and handling of the BUYER’s supplies as specified in the Specifications after delivery to the SELLER BUILDER and shall install and secure them on board the VESSEL at the SELLER’S BUILDER’s expenses. The extra cost for material installation or testing for Buyer’s supplied items, if any, will be borne by the Buyer. Upon arrival of such shipment of the Buyer’s supplied items, both parties shall undertake a an joint unpacking inspection. if If any damages are found to be not suitable for installation, the SELLER BUILDER shall be entitled to refuse to accept the BUYER’s supplied items. Shipbuilding Contract Hull No.

BUYER’S SUPPLIED ITEMS. The BUYER shall deliver to the SELLER at its shipyard the SELLER’s Shipyard the items as specified in the Specifications which the BUYER shall supply on its account by the time mutually agreed 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 SELLER such items BUYER’s Supplies within the time, agreedtime specified, the delivery of the VESSEL shall at automatically be extended for a period of such delay, provided always that such delay in delivery of the BUYER’s supplied items Supplies shall actually have affected affect the delivery of the VESSEL. In such event, the BUYER shall pay to the SELLER all losses direct and damages documented costs or expenses sustained by the SELLER due to such delay in the delivery of the BUYER’S supplied items ’s Supplier and such payment shall be made upon delivery of the VESSEL. During any period when the BUYER’s supplies are delayed, but only provided that the SELLER shall continue with the construction program is actually affectedof the VESSEL as far as possible and shall use its best endeavours to minimize any postponement of the Delivery Date. Furthermore, if the delay in delivery of the BUYER’s supplied items supplies should exceed twenty one (2021) days, the SELLER shall be entitled to proceed proceed, (or if instructed in writing by the BUYER, the SELLER shall 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 accept the VESSEL, VESSEL so completed. The SELLER shall be responsible for safely storing and handling of the BUYER’s 's supplies as specified in the Specifications after delivery to the 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 supplied items, if any, will be borne by the Buyer's expense. Upon arrival of such shipment of the Buyer’s BUYER's supplied items, both parties shall undertake a joint unpacking inspection. if If any damages are damaged item is found to be not suitable for installation, the SELLER shall be entitled to refuse to accept the BUYER's supplied items. However, if requested by the BUYER the SELLER may repair or adjust BUYER’s supplied itemsitem at an agreed cost. In the event of cancellation and/or rescission of the Contract by 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 SELLER at its BUILDER’s shipyard the items as specified in the Specifications which the BUYER shall supply on its BUYER’s account (the “BUYER’s Supplied Items”) by the time mutually agreed designated by the SELLER. The SELLER and 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 SELLER such items BUILDER the BUYER’s Supplied Items which are to be installed on the VESSEL within the time, agreedtime specified, 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 Supplied Items shall actually have affected 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 pay to the SELLER all losses and damages sustained 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, but only VESSEL as part of the second instalment referred to in Article II provided that the construction program is actually affectedSELLER shall have given the BUYER the 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 BUYER’s supplied items and the necessary document or advice for such supplies as soon as the delay occurs. Furthermore, if the any delay in delivery of the BUYER’s supplied items Supplied Items should exceed twenty fifteen (2015) 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 accept the VESSEL, VESSEL so completed. Shipbuilding Contract For Construction of One 82,000 DWT Bulk Carrier (Hull No.YZJ2013-1144) The SELLER BUILDER shall be responsible for safely storing and handling of the BUYER’s supplies Supplied Items as specified in the Specifications after delivery to the SELLER BUILDER and shall install and secure them on board the VESSEL at the SELLER’S BUILDER’s expenses. The extra cost for material installation or testing for Buyer’s supplied items, if any, will be borne by the Buyer. Upon arrival of such shipment of the BuyerBUYER’s supplied itemsSupplied Items, both parties shall undertake a joint unpacking inspection. if If any damages are found to be not suitable a supplied item that make it unsuitable for installation, the SELLER BUILDER, after consulting the BUYER, shall be entitled to refuse to accept the BUYER’s supplied items.damaged/defective item. However, upon request by the BUYER the SELLER shall assist the BUYER to

BUYER’S SUPPLIED ITEMS. The BUYER shall deliver to the SELLER at its BUILDER’s shipyard the items as specified in the Specifications which the BUYER shall supply on its BUYER’s account (the “BUYER’s Supplied Items”) by the time mutually agreed designated by the SELLER. The SELLER and 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 SELLER such items BUILDER the BUYER’s Supplied Items which are to be installed on the VESSEL within the time, agreedtime specified, 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 Supplied Items shall actually have affected 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 pay to the SELLER all losses and damages sustained 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, but only VESSEL as part of the second instalment referred to in Article II provided that the construction program is actually affectedSELLER shall have given the BUYER the 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 BUYER’s supplied items and the necessary document or advice for such supplies as soon as the delay occurs. Furthermore, if the any delay in delivery of the BUYER’s supplied items Supplied Items should exceed twenty fifteen (2015) 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 accept the VESSEL, VESSEL so completed. Shipbuilding Contract For Construction of One 82,000 DWT Bulk Carrier (Hull No.YZJ2013-1145) The SELLER BUILDER shall be responsible for safely storing and handling of the BUYER’s supplies Supplied Items as specified in the Specifications after delivery to the SELLER BUILDER and shall install and secure them on board the VESSEL at the SELLER’S BUILDER’s expenses. The extra cost for material installation or testing for Buyer’s supplied items, if any, will be borne by the Buyer. Upon arrival of such shipment of the BuyerBUYER’s supplied itemsSupplied Items, both parties shall undertake a joint unpacking inspection. if If any damages are found to be not suitable a supplied item that make it unsuitable for installation, the SELLER BUILDER, after consulting the BUYER, shall be entitled to refuse to accept the BUYER’s supplied items.damaged/defective item. However, upon request by the BUYER the SELLER shall assist the BUYER to

BUYER’S SUPPLIED ITEMS. The BUYER shall deliver to the SELLER at its shipyard the items as specified in the Specifications which the BUYER shall supply on its BUYER’s account (hereinafter called the “BUYER's Supplied Items”) by the time mutually agreed designated by the SELLER and the BUYERSELLER. Should the BUYER fail to deliver to the SELLER BUILDER such items BUYER's Supplied Items within the time, agreedtime specified, 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 's Supplied Items shall actually have affected affect the delivery of the VESSEL. In such event, the BUYER shall pay to the SELLER all losses and damages sustained 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, but only provided that the construction program is actually affected. Furthermore, if the delay in delivery of the BUYER’s supplied items 's Supplied Items should exceed twenty fifteen (2015) calendar 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 accept the VESSEL, VESSEL so completed. The SELLER BUILDER shall be responsible for safely storing and handling of the BUYER’s supplies 's Supplied Items as specified in the Specifications after delivery to the SELLER BUILDER at no cost and shall install and secure them on board the VESSEL at the SELLER’S BUILDER's expenses. The extra cost for material In order to facilitate installation or testing for Buyer’s supplied items, if any, will be borne by the BuyerBUILDER of the BUYER’s 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 certificates 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 BuyerBUYER’s supplied itemsSupplied Items, both parties shall undertake a joint unpacking inspection. if If any damages are found to be not suitable for installation, the SELLER BUILDER shall be entitled to refuse to accept the BUYER’s supplied itemsSupplied Items.

BUYER’S SUPPLIED ITEMS. The BUYER shall deliver to the SELLER at its shipyard the items as specified in the Specifications which the BUYER shall supply on its BUYER’s account (hereinafter called the “BUYER's Supplied Items”) by the time mutually agreed designated by the SELLER and the BUYERSELLER. Should the BUYER fail to deliver to the SELLER BUILDER such items BUYER's Supplied Items within the time, agreedtime specified, 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 's Supplied Items shall actually have affected affect the delivery of the VESSEL. In such event, the BUYER shall pay to the SELLER all losses and damages sustained 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, but only provided that the construction program is actually affected. Shipbuilding Contract Hull No.H1597 Furthermore, if the delay in delivery of the BUYER’s supplied items 's Supplied Items should exceed twenty fifteen (2015) calendar 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 accept the VESSEL, VESSEL so completed. The SELLER BUILDER shall be responsible for safely storing and handling of the BUYER’s supplies 's Supplied Items as specified in the Specifications after delivery to the SELLER BUILDER at no cost and shall install and secure them on board the VESSEL at the SELLER’S BUILDER's expenses. The extra cost for material In order to facilitate installation or testing for Buyer’s supplied items, if any, will be borne by the BuyerBUILDER of the BUYER’s 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 certificates 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 BuyerBUYER’s supplied itemsSupplied Items, both parties shall undertake a joint unpacking inspection. if If any damages are found to be not suitable for installation, the SELLER BUILDER shall be entitled to refuse to accept the BUYER’s supplied itemsSupplied Items. Shipbuilding Contract Hull No.H1597