EX 1036


		
			EXHIBIT 10.36
		

		
			 
		

		
			 
		

		
			INTERNATIONAL SHIPHOLDING CORPORATION 
11 North Water Street, Suite 18290
		

		
			Mobile, Alabama 36602
		

		
			September 15, 2015
		

		
			DVB Bank SE
		

		
			Park House
		

		
			16-18 Finsbury Circus
		

		
			London EC2M 7EB, United Kingdom
		

		
			Attn: Peter Attridge
		

		
			Department Transaction and Loan Services
		

		
			Email: tis.london@dvbbank.com
		

		
			Facsimile No.: +44 207 256 4352
		

		
			Re:Request for waivers under that certain
		

		
			Senior Secured Term Loan Credit Agreement
		

		
			dated as of August 26, 2014, as amended, for the vessel GREEN BAY
		

		
			Dear Sirs:
		

		
			Reference is made to that certain Senior Secured Term Loan Credit Agreement dated as of August 26, 2014 (as the same has been amended from time to time, the "Credit Agreement"), by and among (1) Central Gulf Lines, Inc., as borrower, (2) International Shipholding Corporation, as guarantor, (3) the lenders from time to time party thereto, (4) DVB Bank SE, as facility agent and as security trustee, and (5) DVB Bank SE, as mandated lead arranger, Capitalized terms used herein shall have the meanings provided to them in the Credit Agreement.
		

		
			Reference is also made to the information provided to the Lenders at the bank group meeting held at the Guarantor's offices in Mobile, Alabama on Wednesday, September 9, 2015, which information has since been updated in communications between the Guarantor and the Lenders and the Agents. In connection with same, the Borrower hereby requests that the Lenders and the Agents:
		

			
	
			
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			waive the Guarantor's compliance with the Working Capital, Minimum Liquidity, Minimum Consolidated Tangible Net Worth and Minimum Consolidated Fixed Charge Coverage Ratio financial covenants, Sections 9.3(b), 9.3(d), 9,3(e) and 9.3(g), respectively, in the Credit Agreement for the fiscal quarter ending September 30, 2015;




			
	
			
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			extend the mandatory prepayment deadline under section 5 of the Omnibus, Assignment, Assumption and Amendment Agreement dated August 4, 2015 to October 23, 2015.




		
			Please indicate your agreement to the foregoing by signing this letter agreement where indicated below. If you have any questions, please feel free to contact the undersigned.
		

		
			Sincerely yours,
		

		
			INTERNATIONAL SHIPHOLDING CORPORATION
		

		
			By: /s/ D.B. Drake
		

		
			Name: D.B. Drake
		

		
			Title: Vice President and Treasurer
		

		
			 
		

		
			 
		

		

		

		 

 

		DVB Bank SE
		

		
			September 15, 2015
		

		
			Page 2
		

		
			 
		

		
			 
		

		
			 
		

		
			Acknowledged and agreed to 
		

		
			This 29 day of September, 2015
		

		
			 
		

		
			 
		

		
			DVB Bank SE as Facility Agent, 
		

		
			Security Trustee and Lender
		

		
			 
		

		
			 
		

		
			By: /s/ Eik Schuppan
		

		
			Name: Eik Schuppan
		

		
			Title: Senior Vice President
		

		
			 
		

		
			 
		

		
			By: /s/ Felix Ulbricht
		

		
			Name: Felix Ulbricht
		

		
			Title: Managing Director
		

		
			 
		

		
			 
		

		
			 
		

		
			cc:DVB Transport (US) LLC
		

		
			609 Fifth Avenue, 5th Floor
		

		
			New York, New York 10017, USA
		

		
			Attn: Christoph Clauss
		

		
			          Matthew Galici
		

		
			Email: Christoph.clauss@dvbbank.com;  matthew.galici@dvbbank.com
		

		
			Facsimile: (212) 858-2664; (917) 369-2196