Ship Lease Supplemental Agreement (Unofficial Translation)
(Unofficial
Translation)
Party A (Lessor): Lianyungang
Hengrong Shipping Service Co., Ltd.
Address: Road 6 Development
District, Lianyun District, Lianyungang City
Address of Fuzhou branch: 803 Time
International Square, 00 Xxxxxxxxxxxx Xxxx, Xxxxx Xxxxxxxx, Xxxxxx
Xxxx
Legal Representative: XXXX
Xxxxxxx
Party B (Lessee): Fujian Xing
Gang Port Service Co., Ltd.
Address: Xxxxx 00, Xxxxx X,
Xxxxxxxxx Xxxxxxxx, 000 Xxxxxx Xxxx, Xxxxxx Xxxx.
Legal Representative: XXX
Xxxx
Through
friendly consultation, Party A and Party B agree upon the following supplements
to the Ship Lease Agreement executed on January 8th,
2008:
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I.
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Upon
the expiration of the original
agreement:
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1.
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Party
A need not conduct ship certificate change
procedures;
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2.
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Party
A does not refund the ship security deposit in the amount of twenty three
million yuan. (¥ 23,000,000.00);
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3.
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Party
B does not purchase the ship “Hengshengjun
88”;
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4.
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Party
B need not make the ship transfer payment in the amount of seventy million
yuan even (¥ 70,000,000,00);
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5.
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Party
A and Party B do not conduct ship transfer
procedures.
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II.
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After
the original agreement expires, Party B renews the lease until January
9th,
2016.
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III.
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When
term expires in 2016, Party B has the priority to renew the lease under
the same conditions. If Party B decides not to renew the lease,
within 7 business days after the expiration of the
term:
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1.
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Party
A and Party B conduct ship transfer
procedures;
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2.
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Party
A refunds the ship security deposit in the amount of twenty three million
yuan even (¥ 23,000,000.00);
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IV.
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Other
items in the original agreement do not
change.
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V.
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This
supplementary agreement has the same legal validity as the original
agreement.
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Party A: Lianyungang Hengrong
Shipping Service Co., Ltd. (Seal)
Legal Representative: XXXX
Xxxxxxx /s/
Party B: Fujian Xing Gang Port
Service Co., Ltd. (Seal)
Legal Representative: XXX Xxxx
/s/
Date of execution: April
13th,
2010
