SHAREHOLDERS AGREEMENT

Exhibit 10.4 

SHAREHOLDERS AGREEMENT

THIS AGREEMENT is made on the 26^th day of July 2013

THE PARTIES TO THIS AGREEMENT ARE AS FOLLOWS:

XXXXXXXXX XXXXXX, residing at 0 Xxxxxxx xx xx Xxxxxxxx, 00000 Xxxxxx (“Shareholder A”);

XXXXXXXXX XXXXXXXXX, residing at 00 Xxxxxx Xxxxxxxxx Xxxxx, 00000 Xxxxxx (“Shareholder B”);

Hereinafter called Shareholders of:

STALWART TANKERS INC., a company incorporated under the laws of the Xxxxxxxx Islands, whose registered address is at Trust Company Complex, Ajeltake Road, Ajeltake Island, Majuro, Xxxxxxxx Islands (“the Company”)

WHEREBY IT IS AGREED as follows:

Shareholder A and Shareholder B hereby agree to act together concerning the operation and management of the Company.

IN WITNESS of which the parties have signed this Agreement the day, month and year first above written.

Signature:	/s/ Xxxxxxxxx Xxxxxx
	XXXXXXXXX XXXXXX

Signature:	/s/ Xxxxxxxxx Xxxxxxxxx
	XXXXXXXXX XXXXXXXXX