Exhibit 4.78

      

      

      

      

    To:

    ECO SEVEN INC.

    Attn: Mr. Tsirikos Alexandros and Mr. Louka Andreas

    Date: 29 March 2018

    Interest Rate Swap Transaction

    The purpose of this letter (this "Confirmation") is to confirm the terms and conditions of the Interest Rate Swap Transaction, entered into between us on the Trade Date specified below (the "Transaction").

    The definitions and provisions contained in the 2006 ISDA Definitions (the “2006 Definitions”), as published by the International Swaps and Derivatives Association, Inc. (“ISDA”) are incorporated into this Confirmation.  In the event of any inconsistency between those Definitions and this Confirmation, this Confirmation will govern.

    This Confirmation constitutes a “Confirmation” as referred to in, and supplements, forms part of and is subject to, the
        2002 ISDA Master Agreement dated 20.06.2017 as amended and supplemented from time to time (the “Agreement”), between ALPHA BANK A.E. (as Party A) and Eco Seven Inc. (as Party B).

    All provisions contained in the Agreement govern this Confirmation except as expressly modified below.

    The terms of the particular Interest Swap Transaction to which this Confirmation relates are as follows:

    1. General Terms

    	
            Trade Date:

          	 	
            29 March 2018

          
	 	 	 
	
            Effective Date:

          	 	
            29 March 2018

          
	 	 	 
	
            Termination Date:

          	 	
            25 February 2025

          
	 	 	 
	
            Notional Amount:

          	 	
            USD 21.900.000,00 variable according to the Amortization Schedule below

          


    

    

    2. Fixed Amounts

    	
            Fixed Rate Payer:

          	 	
            Party B

          
	 	 	 
	
            Fixed Rate:

          	 	
            2,97%

          
	 	 	 
	
            Fixed Rate Payer

          	 	 
	
            Payment Dates:

          	 	
            Each quarter, on 25 February, 25 May, 25 August and 25 December of each year (according to the Amortization Schedule below) from and
                including Start Date, to and excluding End Date, subject to adjustment in accordance with the Modified Following Business Day Convention

          
	 	 	 
	
            Initial Calculation Period:

          	 	
            From and including 29 March 2018 to and excluding 25 May 2018

          


    
      
        


    

    
    

    

    3. Floating Amounts

    	
            Floating Rate Payer:

          	 	
            Party A

          
	 	 	 
	
            Floating Rate:

          	 	
            3month USD Libor

          
	 	 	 
	
            Floating Rate Payer

          	 	 
	
            Payment Dates:

          	 	
            Each quarter, on 25 February, 25 May, 25 August and 25 December of each year (according to the Amortization Schedule below) from and
                including Start Date, to and excluding End Date, subject to adjustment in accordance with the Modified Following Business Day Convention

          
	 	 	 
	
            Initial Calculation Period:

          	 	
            From and including 29 March 2018 to and excluding 25 May 2018

          
	 	 	 
	
            Floating Rate for the Initial

          	 	 
	
            Calculation Period:

          	 	
            1,987360%

          
	 	 	 
	
            Day Count Fraction:

          	 	
            Actual/360, adjusted

          
	 	 	 
	
            Reset Date:

          	 	
            Two business days prior to the start of the relevant period

          
	 	 	 
	
            Business Days:

          	 	
            New York, London, Athens

          
	 	 	 
	
            Calculation Agent:

          	 	
            Party A

          


    

    

    4. Amortization Schedule

    	
            Start Date

          	
            End Date

          	
            Notional Amount

          
	 	 	 
	
            29/3/2018

          	
            25/5/2018

          	
            21.900.000,00

          
	
            25/5/2018

          	
            27/8/2018

          	
            21.500.000,00

          
	
            27/8/2018

          	
            26/11/2018

          	
            21.100.000,00

          
	
            26/11/2018

          	
            25/2/2019

          	
            20.700.000,00

          
	
            25/2/2019

          	
            28/5/2019

          	
            20.300.000,00

          
	
            28/5/2019

          	
            26/8/2019

          	
            19.900.000,00

          
	
            26/8/2019

          	
            25/11/2019

          	
            19.500.000,00

          
	
            25/11/2019

          	
            25/2/2020

          	
            19.100.000,00

          
	
            25/2/2020

          	
            26/5/2020

          	
            18.700.000,00

          
	
            26/5/2020

          	
            25/8/2020

          	
            18.397.500,00

          
	
            25/8/2020

          	
            25/11/2020

          	
            18.095.000,00

          
	
            25/11/2020

          	
            25/2/2021

          	
            17.792.500,00

          
	
            25/2/2021

          	
            25/5/2021

          	
            17.490.000,00

          
	
            25/5/2021

          	
            25/8/2021

          	
            17.187.500,00

          
	
            25/8/2021

          	
            26/11/2021

          	
            16.885.000,00

          
	
            26/11/2021

          	
            25/2/2022

          	
            16.582.500,00

          
	
            25/2/2022

          	
            25/5/2022

          	
            16.280.000,00

          
	
            25/5/2022

          	
            25/8/2022

          	
            15.977.500,00

          


    

    

    
      2

      
        


    

    

    

    

    

    	
            25/8/2022

          	
            25/11/2022

          	
            15.675.000,00

          
	
            25/11/2022

          	
            28/2/2023

          	
            15.372.500,00

          
	
            28/2/2023

          	
            25/5/2023

          	
            15.070.000,00

          
	
            25/5/2023

          	
            25/8/2023

          	
            14.767.500,00

          
	
            25/8/2023

          	
            27/11/2023

          	
            14.465.000,00

          
	
            27/11/2023

          	
            26/2/2024

          	
            14.162.500,00

          
	
            26/2/2024

          	
            28/5/2024

          	
            13.860.000,00

          
	
            28/5/2024

          	
            26/8/2024

          	
            13.557.500,00

          
	
            26/8/2024

          	
            25/11/2024

          	
            13.255.000,00

          
	
            25/11/2024

          	
            25/2/2025

          	
            12.952.500,00

          


    

    

    5. OTHER PROVISIONS

    5.1 In relation to the Agreement Party B is obliged to proceed with providing security in favour of Party A and in particular, Party B is
        obliged to grant and register within thirty (30) days of the execution of this Transaction, a second priority ship mortgage upon its motor tanker “Stenaweco Elegance”.

    ISDA Schedule Part 5 is amended accordingly by including wording to refelect relevant obligation is added in Part 5.

    5.2 Notwithstanding the provisions of Section 5(b) (iv) of the Agreement dated 20.06.2017 between Party A and Party B, the following will
        constitute an Additional Termination Event:

    Party B fails to grant and register within thirty (30) days from the execution of this Transaction, a second priority ship mortgage upon its
        motor tanker “Stenaweco Elegance”.

    For the purposes of this Additional Termination Event, Party A shall be the sole Affected Party and shall be entitled to
        designate an Early Termination Date in respect of the Affected Transaction(s) at any time in accordance with Section 6(b)(iv) of this Agreement, and relevant provisions of Section 6(c), (d) and (e) of the Agreement will apply.

    6. Costs And Charges

    	
            For investment services and/or ancillary services

          	
            € 0

          
	
            Payments charged by third parities

          	
            € 0

          
	
            For Financial Instruments

          	
            0,30% (which has been embedded in the Fixed Rate 2,97%, details as per Paragraph 2 “Fixed
                Amounts”)

          
	
            Total

            The analysis of the amount consisting of costs and

            charges shall be available upon relevant request.

          	 


    

    

    7. Account Details

    	 	
            Account(s) for

          	 	 
	 	
            Payments to Party A  :

          	
            GR83 0140 9600 9600 1500 6028 626

          	 
	 	 	 	 
	 	
            Account(s) for

          	 	 
	 	
            Payments to Party B  :

          	
            GR83 0140 9600 9600 1500 6028 626

          	 


    

    

    
      3

      
        


    

    

    

    Party B irrevocably authorizes Party A to either debit and/or credit any amounts due, according to the

    the terms and conditions of this Transaction as set out herein, to the above mentioned account.

    

    

    Each party represents to the other party that:

    

    

    
      
        	(a)	
                Non-Reliance.  It is acting for its own account, and it
                    has made its own independent decisions to enter into the Transaction and as to whether the Transaction is appropriate or proper based upon its own judgement and upon advice from such advisers as it has deemed necessary.  It is not
                    relying on any communication (written or oral) of the other party as investment advice or as a recommendation to enter into the Transaction: it being understood that information and explanations related to the terms and conditions of
                    the Transaction shall not be considered investment advice or a recommendation to enter into the Transaction.  No communication (written or oral) received from the other party shall be deemed to be an assurance or guarantee as to the
                    expected results of the Transaction.

              


      

    

    
      
        	(b)	
                Assessment and Understanding.  It is capable of
                    assessing the merits of and understanding (on its own behalf or through independent professional advice), and understands and accepts, the terms, conditions and risks of the Transaction.  It is also capable of assuming, and assumes, the
                    risks of the Transaction.

              


      

    

    
      
        	(c)	
                Status of Parties.  The other party is not acting as a
                    fiduciary for or an adviser to it in respect of the Transaction.

              


      

    

    
      
        	(d)	
                Purpose.  It is entering into the Transaction for the
                    purposes of hedging its assets or liabilities or in connection with a line of business

              


      

    

    

    

    This Confirmation supersedes and replaces any other confirmation (including any other written confirmation, SWIFT MT300 or phone/oral
        confirmation) in connection with this Transaction on or prior to the date hereof.

    

    

    Please confirm that the foregoing correctly sets forth the terms and conditions of our agreement with respect to the Transaction by executing
        the copy of this Confirmation enclosed for that purpose and returning it to us by the end of the second business day following Trade Date as set out above.  Your failure to respond within such period shall not affect the validity or enforceability
        of the Transaction as against you.

    

    

    	
            Yours sincerely,

            ALPHA BANK A.E.

          	 	 


    

    

    

    

    	
            By:

          	 	 	 	 
	
            Name:  

          	 	 
	
            Title:  

          	 	 


    

    

    

    

    

    

    

    

    CONFIRMED

    

    

    

    

    	
            By:

          	 	 	 	 
	
            Name:  

          	 	 
	
            Title:  

          	 	 


    

    

    

    

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