Unassociated Document


    This
document has been translated for information purposes only; the Chinese text is
the only valid document.

    
      Only
Chinese proxies will be accepted. 

        
          

        

      

    


    Exhibit
4.12

    Power
of Attorney

     

    FUZHOU  WONDER DREDGING
ENGINEERING LIMITED (“Fuzhou Wonder”), with its address at Suite 1705 of
17th Floor, Zhongshan Plaza A, 154 Hudong Road, Fuzhou City, Fujian and its Lin
Qing as its legal representative,

    


    Holder of
fifty percent (50%) equity interest in Fujian Xing Gang Port Service Limited(
“Fujian Xing Gang”),

    


    irrevocably
grants full powers of attorney to FUJIAN WANGANG DREDGING ENGINEERING
LIMTED (“Fujian Wangang”), with its address at 16th Floor, Zhongshan
Plaza, 154 Hudong Road, Fuzhou City, Fujian and the persons designated by Fujian
Wangang (the “Designated Persons”), with the sole and exclusive power of
attorney, to exercise the power as follows, including without
limitation:

    


    1. Fuzhou
Wonder’s full voting power and other power as the holder of equity interest in
Fujian Xing Gang, pursuant to the bylaws of Fujian Xing Gang and the laws of
People of Republic of China, including without limitation the rights of selling,
transferring, pledging or disposing all or part of the equity interest held by
Fuzhou Wonder;

    


    2. Rights
of designating, appointing and nominating the legal representative (the “Chairman of the
Board of Directors”), directors,
supervisors, general manager and other senior officers of Fujian Xing
Gang;

    


    3. The
Designated Persons have the power to sign the Contracted Management Agreement,
the Contract Relating to the Exclusive Purchase Right of the Equity Interest and
the Equity Interest Pledge Agreement and perform their obligations in these
agreements. Exercising the power in this paragraph will not impose restriction
to this Power of Attorney;

    


    4. All
the  actions taken by the Designated Persons under this Power of
Attorney are deemed to be have been taken by Fuzhou Wonder’s and will
be  confirmed by it; All the documents signed by the Designated
Persons under this Power of Attorney are deemed to be the documents signed by
Fuzhou Wonder and will be confirmed by it;

    


    
      
        
        

      

      
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        This
document has been translated for information purposes only; the Chinese text is
the only valid document.

        
          Only
Chinese proxies will be accepted. 

            
              

            

          

        

      

       

    

    5. The
Designated Persons have the power of assignment. They have the power to assign
the commitment in above four paragraphs to other persons or enterprises, at
their sole discretion, without consent from Fuzhou Wonder and without delivering
notification to Fuzhou Wonder;

    


    6. The
term of this Power of Attorney commences on the date of signing. During the
period in which Fuzhou Wonder is the holder of equity interest in Fujian Xing
Gang this Power of Attorney is irrevocable and will validly exist.

    


    7. During
the term of this Power of Attorney Fuzhou Wonder waives the power delegated to
the Fujian Wangang  and the Designated Persons and will not exercise
it.

     

    Signed on
  June 30,
2010

     

    
      
        
          	
                  (Seal of Fuzhou Wonder ) /seal/ Fuzhou Wonder Dredging Engineering Limited

                
	 
      
	
                  (Signature of Fuzhou Wonder’s legal
      representative): /s/ Lin Qing

                
	 
      
	
                  With
      the witness:

                
	 
      
	
                  (signature )

                
	 
      
	
                  (Print)

                
	 
      
	
                  Date

                


        

      

    

     

    
      
         


      

      
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