AMENDMENT NO. 1 OF JULY 22, 2005 TO THE “SHIPMAN 98” AGREEMENT DATED JULY 1, 2004 BETWEEN ADVENTURE THREE S.A. & FREE BULKERS S.A.

EXHIBIT 10.13

AMENDMENT NO. 1 OF JULY 22, 2005 TO THE “XXXXXXX 98” AGREEMENT
DATED JULY 1, 2004 BETWEEN ADVENTURE THREE S.A. & FREE BULKERS S.A.

IT IS TODAY MUTUALLY AGREED THAT THE FOLLOWING AMENDMENTS ARE IN FORCE

XXX 00 — XXX, 0% XX XXXXX XXXXXX

XXX 00 — YES, 1.25% OF GROSS FREIGHT, DEMURRAGE HIRE PAYABLE ON FIXTURES AFTER REDELIVERY FROM CP DD JUNE 30, 2004

THE OWNERS
 

/s/ Xxxxxx X. Gourdomichalis  

Xxxxxx X. Gourdomichalis 

THE MANAGERS
 

/s/ Ion X. Xxxxxxxxxx  

Ion X. Xxxxxxxxxx