Document:

Exhibit 4.30

 

THIRD SUPPLEMENTAL LETTER

 

		To:	POLYARISTI NAVIGATION CO.

EFPLOIAS SHIPPING CO.
and

AMORITA DEVELOPMENT
INC.

each of 80 Broad Street

Monrovia

Republic of Liberia

 

		From:	ABN AMRO BANK N.V.

93 Coolsingel

3012 AE Rotterdam

Netherlands

 

HSH NORDBANK AG

Gerhart Hauptmann Platz
50

D-20095 Hamburg

Germany

 

ITF INTERNATIONAL TRANSPORT
FINANCE SUISSE AG

Wasserwerkstrasse 12

CH-8006 Zurich

Switzerland

13 June 2016

 

Dear Sirs

 

We refer to a loan agreement dated 6 May
2011 (as amended and restated by two amending and restating agreements dated 9 August 2012 and 9 August 2013, respectively and
as further amended and supplemented by a supplemental agreement dated 25 November 2014, a supplemental and release agreement dated
25 June 2015 and two supplemental letters dated 6 May 2016 and 20 May 2016 respectively, the “Loan Agreement”)
and made between (i) Polyaristi Navigation Co., Efploias Shipping Co. and Amorita Development Inc. as joint and several borrowers
(the "Borrowers"), (ii) the banks and financial institutions listed in schedule 1 therein as lenders (the "Lenders"),
(iii) ABN AMRO Bank N.V. as agent (in such capacity, the "Agent"), first swap bank, underwriter and security trustee
and (iv) HSH Nordbank AG as second swap bank, to in respect of a loan facility in an amount of (originally) up to US$100,000,000.

 

Words and expressions defined in the Loan
Agreement shall have the same meaning when used in this Letter unless the context may otherwise require and for the purposes of
this Letter:

 

"Amendment Documentation"
means the amending and supplementing documentation in respect of the restructuring of the Loan in accordance with the terms of
the Indicative Term Sheet dated 27 May 2016 in the Agreed Form.

 

"Deferred Date" means
the date falling on the earlier of (i) 24 June 2016 and (ii) the date on which the Amendment Documentation is signed by all parties
thereto.

 

"Deferred Repayment Instalments"
mean the repayment instalments in respect of the Tranches used to finance "MALE", "BOX VOYAGER" and "BOX
TRADER" in the aggregate amount of $1,925,000 due and payable on the Effective Date.

 

"Effective Date" means
10 June 2016.

 

     

     

    

 

We also refer
to the recent discussions between us in which you have requested that the Creditor Parties consent to the deferral of the Deferred
Repayment Instalments until the Deferred Date (the "Deferral") with effect from the Effective Date.

 

		1	Agreement

 

		1.1	In consideration of the sum of US$1 and other good and valuable consideration (the receipt and
adequacy of which is hereby acknowledged), the Creditor Parties hereby agree to the Deferral from the Effective Date subject to:

 

		(a)	receipt of a copy of this Letter duly executed by the parties to it; and

 

		(b)	the Security Parties executing the acknowledgement to this Letter confirming their agreement to
the terms and conditions of the same.

 

		1.2	The failure of the Borrowers to pay the Deferred Repayment Instalments on or prior to the Deferred
Date shall constitute an immediate Event of Default pursuant to clause 18.1(a) of the Loan Agreement.

 

		2	REPRESENTATIONS AND WARRANTIES

 

		2.1	The Borrowers hereby represent and warrant to the Agent that (a) the representations and warranties
contained in clause 10 of the Loan Agreement are true and correct on the date of this Letter as if all references therein to "this
Agreement" were references to the Loan Agreement as supplemented by this Letter; and (b) this Letter comprises the legal,
valid and binding obligations of the Borrowers enforceable in accordance with its terms.

 

		3	COUNTERPARTS

 

		3.1	This Letter may be executed in any number of counterparts, each of which shall be an original and
all of which, when taken together, shall constitute one Letter.

 

		4	LOAN AGREEMENT

 

		4.1	The Borrowers hereby agree with the Agent that, notwithstanding our consent to the Deferral, all
other provisions of the Loan Agreement and the other Finance Documents remain in full force and effect.

 

		4.2	This Letter shall constitute a Finance Document for all purposes under the Loan Agreement and the
other Finance Documents.

 

		5	notices

 

		5.1	Clause 28 (notices) of the Loan Agreement shall extend and apply to this Letter as if the same
were (mutatis mutandis) herein expressly set forth.

 

		6	Governing law

 

		6.1	This Letter shall be governed by and construed in accordance with English law and clause 31 (law
and jurisdiction) of the Loan Agreement shall extend and apply to this Letter as if the same were (mutatis mutandis) herein expressly
set forth.

 

Please confirm your acceptance to the foregoing
terms and conditions by signing the acceptance at the foot of this Letter.

 

    	 	2	 

     

    

 

	Yours faithfully	 
	 	 
	 	 
	for and on behalf of	 
	ABN AMRO BANK N.V.	 
	 	 
	 	 
	for and on behalf of	 
	ITF INTERNATIONAL TRANSPORT FINANCE SUISSE AG	 
	 	 
	 	 
	for and on behalf of	 
	HSH NORDBANK AG	 

 

    	 	3	 

     

    

 

	Accepted and agreed	 
	 	 
	BORROWERS	 
	 	 
	 	 
	for and on behalf of	 
	POLYARISTI NAVIGATION CO.	 
	 	 
	 	 
	for and on behalf of	 
	EFPLOIAS SHIPPING CO.	 
	 	 
	 	 
	for and on behalf of	 
	AMORITA DEVELOPMENT INC.	 
	 	 
	COLLATERAL OWNERS	 
	 	 
	 	 
	for and on behalf of	 
	ROSETTA NAVIGATION CORP. LIMITED	 
	 	 
	 	 
	for and on behalf of	 
	TRITON SHIPPING LIMITED	 
	 	 
	Dated  13 June 2016	 

 

    	 	4	 

     

    

 

COUNTERSIGNED this 13th
day of June 2016 for and on behalf of each Security Party which, by its execution hereof, confirms and acknowledges that it has
read and understood the terms and conditions of the above letter (the "Supplemental Letter"), that it agrees in
all respects to the same and that the Finance Documents to which it is a party shall remain in full force and effect and shall
continue to stand as security for the obligations of the Borrowers under the Loan Agreement and the Master Agreements (each as
amended and supplemented by the Supplemental Letter).

 

	 	 
	for and on behalf of	 
	BOX SHIPS INC.	 
	 	 
	 	 
	for and on behalf of	 
	ALLSEAS MARINE S.A.	 

 

    	 	5Exhibit 4.31

 

SECOND DEFERRAL LETTER

 

		To:	BOX SHIPS INC.

of Trust Company House

Trust Company Complex

Ajeltake Road, Ajeltake
Island

Majuro MH96960

Marshall Islands

 

		From:	CREDIT SUISSE AG

St. Alban-Graben 1-3

Basel CH-4002

Switzerland

 

15 June 2016

 

Dear Sirs

 

Loan Agreement dated 11 November 2014
(as amended and supplemented from time to time, the "Loan Agreement") made between (i) Box Ships Inc. as borrower (the
"Borrower") and (ii) ourselves as lender (the "Lender") in respect of a loan facility of (originally) up to
US$31,650,000

 

We refer to:

 

		(a)	the Loan Agreement;

 

		(b)	our letter dated 5 April 2016 where we set out a shortfall of $381,353.15 in the Retention Account;

 

		(c)	our letter dated 29 April 2016 where we set out a further shortfall of $381,353.15 in the Retention
Account; and

 

		(d)	our letter dated 7 June 2016 where we agreed to defer the Deferred Repayment Instalments (as defined
below) until the earlier of (i) 15 June 2016 and (ii) the date on which the Amendment Documentation (as defined below) is signed.

 

Words and expressions defined in the Loan
Agreement shall have the same meaning when used in this Letter unless the context may otherwise require and for the purposes of
this Letter:

 

"Amendment Documentation"
means any amending and restating documentation in respect of any contemplated restructuring of, or amendment to, the terms of the
Loan Agreement in the Agreed Form.

 

"Deferred Repayment Instalments"
mean:

 

		(a)	Tranche B Instalment, in the amount of $495,000; and

 

		(b)	Tranche C Instalment, in the amount of $355,000,

 

each due and payable
on the date of this Letter.

 

"Second Deferred Date"
means the date falling on the earlier of (i) 24 June 2016 and (ii) the date on which the Amendment Documentation is signed.

 

     

     

    

 

We also refer
to the recent discussions between us in which you have requested that the Lender consents, to the further deferral of the Deferred
Repayment Instalments until the Second Deferred Date (the "Deferral").

 

		1	Agreement

 

		1.1	In consideration of the sum of US$1 and other good and valuable consideration (the receipt and
adequacy of which is hereby acknowledged), the Lender hereby agrees to the Deferral subject to:

 

		(a)	receipt of a copy of this Letter duly executed by the parties to it; and

 

		(b)	the Security Parties executing the acknowledgement to this Letter confirming their agreement to
the terms and conditions of the same.

 

		1.2	The failure of the Borrower to pay the Deferred Repayment Instalments on or prior to the Second
Deferred Date shall constitute an immediate Event of Default pursuant to clause 18.1(a) of the Loan Agreement unless otherwise
provided in any Amendment Documentation entered into on the Second Deferred Date, as the case may be.

 

		2	Representations and Warranties

 

		2.1	The Borrower hereby represents and warrants to the Lender that (a) the representations and warranties
contained in clause 9 of the Loan Agreement are true and correct on the date of this Letter as if all references therein to "this
Agreement" were references to the Loan Agreement as supplemented by this Letter; and (b) this Letter comprises the legal,
valid and binding obligations of the Borrower enforceable in accordance with its terms.

 

		3	reservation of rights

 

		3.1	The Lender’s agreement contained in this Letter is expressly without prejudice to the continuing
rights of the Lender under the Loan Agreement and the other Finance Documents including, without limitation, rights in connection
with any Event of Default which may have occurred or may in the future occur.

 

		4	COUNTERPARTS

 

		4.1	This Letter may be executed in any number of counterparts, each of which shall be an original and
all of which, when taken together, shall constitute one Letter.

 

		5	LOAN AGREEMENT

 

		5.1	The Borrower hereby agrees with the Lender that, notwithstanding our consent to the Deferral, all
other provisions of the Loan Agreement and the other Finance Documents remain in full force and effect.

 

		5.2	This Letter shall constitute a Finance Document for all purposes under the Loan Agreement and the
other Finance Documents.

 

		6	notices

 

		6.1	Clause 27 (notices) of the Loan Agreement shall extend and apply to this Letter as if the same
were (mutatis mutandis) herein expressly set forth.

 

    	 	2	 

     

    

 

		7	Governing law

 

		7.1	This Letter shall be governed by and construed in accordance with English law and clause 29 (law
and jurisdiction) of the Loan Agreement shall extend and apply to this Letter as if the same were (mutatis mutandis) herein expressly
set forth.

 

Please confirm your acceptance to the foregoing
terms and conditions by signing the acceptance at the foot of this Letter.

Yours faithfully 

 

	 	 
	for and on behalf of	 
	CREDIT SUISSE AG	 
	(acting as Lender)	 
	 	 
	Accepted and agreed	 
	 	 
	 	 
	for and on behalf of	 
	BOX SHIPS INC.	 

 

Dated 15 June 2016

 

    	 	3	 

     

    

 

We hereby confirm and acknowledge
that we have read and understood the terms and conditions of the above Letter and agree in all respects to the same and confirm
that the Finance Documents (as that term is defined in the Loan Agreement as amended and supplemented by the above Letter) to which
we are a party shall remain in full force and effect and shall continue to stand as security for the obligations of the Borrower
under the Loan Agreement and the other Finance Documents (each as amended and supplemented by the above Letter).

  

	 	 
	for and on behalf of	 
	TACITA OCEANWAY CARRIER CO.	 

 

Dated15 June 2016

 

 

	for and on behalf of	 
	ALAQUA MARINE LIMTIED	 

 

Dated15 June 2016 

 

	 	 
	for and on behalf of	 
	LAWRY SHIPPING LTD	 

 

Dated15 June 2016

 

    	 	4

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