| 1. | SEALIFT LTD. (“Sealift”); |
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| 2. | SOUTHWEST TANKERS INC.      (“Southwest”); |
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| 3. | FRONT TARGET INC.      (“Front      Target”); |
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| 4. | FRONT TRAVELLER INC.      (“Front      Traveller”); |
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| 5. | WEST TANKERS INC.      (“West”); |
|----|----------------------------------------------|

| 6. | GRANITE SHIPPING COMPANY LTD.      (“Granite”); |
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| 7. | QUADRANT MARINE INC.      (“Quadrant”) |
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| 8. | FRONTLINE LTD. (“Frontline”) |
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| (A) | On      30 January, 2007, Frontline and Sealift entered into a purchase agreement      setting forth the terms and conditions upon and subject to which Sealift      acquired, inter alia,      all of the shares in the Owners from Frontline (the “Original Purchase      Agreement”); |
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| 1. | Terms      defined in the Purchase Agreement shall, when used herein in capitalised      form, have the same meaning as attributed to them in the Purchase      Agreement. |
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| 2. | Clause      8.1.6 of the Original Purchase Agreement shall be supplemented for the      avoidance of doubt so that: |
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|   | (i) | notwithstanding      any of the terms in said Clause 8.1.6 or elsewhere in the Purchase      Agreement, Frontline shall indemnify each Owner against all costs incurred      by such Owner as a result of Frontline not paying any claim which such      Owner is obliged to pay under the terms of the relevant Conversion      Contract or any repair contract entered into by such Owner with      Cosco; |
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|   | (ii) | Frontline      shall be responsible for the repair costs of each Conversion Vessel and in      Clause 8.1.6 all references to “conversion costs” shall be construed so      that this term includes such costs incurred as a result of a repair      contract being entered into by Frontline (on behalf of the relevant Owner)      with the relevant Yard pursuant to Clause 10.8 of such Conversion      Contract. |
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| 3. | Clause      8.1.5 of the Original Purchase Agreement shall be amended so that the      final sentence is deleted and the clause is supplemented by the      following: |
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|   | (i) | Sealift      shall have the right to assign two representatives to the supervision team      for Front Sunda, Front Target, Front Traveller and Front Comor, one of      which shall have engine room expertise and the other deck      expertise; |
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|   | (ii) | the      Sealift representatives shall have full access to information and      documentation provided by Cosco to the supervision teams, as well as all      documentation related to the Conversion Vessels as is being prepared by      the supervision teams or circulated among its  members; |
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|   | (iii) | the      Sealift representatives shall have the right to attend all inspections,      testing of equipment, sea trials and review of sea trial      documentation; |
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|   | (iv) | the      Sealift representatives shall work with the other members of the      supervision team with the objective of resolving all technical issues in      the best interests of the Owners and in the case of disagreement between      the Sealift representatives and the other members of the supervision team,      the views of the Sealift representatives shall be given in writing to the      leader of the supervision team; and |
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| 4. | Clause      8.1.9 of the Original Purchase Agreement and Clause 2 of the Supplemental      Agreement shall be amended so that the agreed redelivery dates are as      follows: |
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| Front      Sunda:     | 30      April 2007     |
|-----------------------|------------------------|
| Front      Target:    | 30      September 2007 |
| Front      Traveller: | 31      January 2008   |
| Front      Comor:     | 31      May 2008       |
|                  |                   |

| 5. | This      Agreement shall become effective immediately upon Merger      Completion. |
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| 6. | This      Agreement shall be considered null and void if Merger Completion has not      occurred prior to 12 May 2007. |
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| 7. | The      Parties agree that the provisions of Clauses 14 and 17 of the Original      Purchase Agreement shall apply to this Agreement as  well. |
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| For      and on behalf of |   | For      and on behalf of          |
|---------------------------|--------|------------------------------------|
| SEALIFT      LTD.         |   | SOUTHWEST      TANKERS INC.        |
|                      |   |                               |
|                      |   |                               |
|                      |   |                               |
| For      and on behalf of |   | For      and on behalf of          |
| FRONT      TARGET INC.    |   | FRONT      TRAVELLER INC.          |
|                      |   |                               |
|                      |   |                               |
|                      |   |                               |
| For      and on behalf of |   | For      and on behalf of          |
| WEST      TANKER INC.     |   | GRANITE      SHIPPING COMPANY LTD. |
|                      |   |                               |
|                      |   |                               |
|                      |   |                               |
| For      and on behalf of |   | For      and on behalf of          |
| QUADRANT      MARINE INC. |   | FRONTLINE      LTD.                |
|                      |   |                               |
|                      |   |                               |
|                      |   |                               |