Document:

Crewmen
Dispatch Contract

    (“Xing
Gang Dredging 66”)

    

    (Unofficial
Translation)

    

    
      	
              Party
      A:

            	
              Fujian
      Haiyi International Shipping Service Agency Co.,
  Ltd.

            

    

    
      	
              Party
      B:

            	
              Fujian
      Xing Gang Shipping Service Co.,
Ltd.

            

    

    

    Party A and Party B, after friendly
consultation based on the principles of equality and mutual benefit, have
reached the agreement regarding the matter of Party A dispatching crewmen to
work at relevant posts on Party B’s dredging engineering boat “Xing Gang
Dredging 66” and set forth the following provisions to be adhered to by
both:

    

    Article
I        Generals

    

    1.           The
term “dispatched crewmen” used herein means those crewmen who are dispatched by
Party A, pursuant to the provisions herein, to work at relevant posts on Party
B’s dredging engineering boat “Xing Gang Dredging 66”; see attachment for the
list of dispatched crewmen.

    

    2.           The
two parties agree that the monthly crewmen dispatch fee is RMB Eighty-One
Thousand Five Hundred Yuan (¥81,500.00).  Party
B must pay the crewmen dispatch fee to Party A at the end of each
quarter.  If a period is less than a month, the fee for the period is
calculated on the basis of one month.

    The said labor dispatch fee includes
all the fees and expenses such as the dispatched crewmen’s salaries, all
benefits and insurances (including but not limited to pensions insurance,
unemployment insurance, medical insurance, family planning insurance, injury
insurance, housing fund and commercial insurance) and bonuses.

    

    3.           Term
of the contract

    This contract becomes effective on
March 1, 2008 and terminates on February 28, 2011.

    

    Article
II        Party A’s Rights and
Obligations

    

    4.           Party
A has the following obligations:

    4.1           Recommend
the crewmen candidates in accordance with the provisions of this
contract.

    Educate the dispatched crewmen on the
compliance with the State laws, statutes and regulations; educate the dispatched
crewmen on the compliance with Party B’s rules and policies, on maintaining
confidentiality of commercial secrets and on safeguarding Party B’s legitimate
rights and interests.

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    4.2           Ensure
that the dispatched crewmen have the qualifications and skills required of their
respective posts and possess valid and complete employment qualification
documents, including but not limited to crewmen service books, maritime crewmen
professional training certificates and maritime crewmen service competency
certificates.

    4.3           Party
B must notify Party A in writing, three business days in advance, of the
boarding time and boarding location for the crewmen dispatched by Party
A.  Party A must ensure that all the dispatched crewmen will report
for duty at the time and location specified by Party B.

    If there is any factor on Party B’s
part that causes a waiting period of more than half a month before the
dispatched crewmen can be aboard, Party B must still pay the same amount
salaries to Party A; if the waiting period exceeds a month, Party A has the
right to terminate this contract.

    4.4           After
the dispatched crewmen have passed assessment and been assigned by Party B,
Party A shall not issue command at will to and replace them.  Party A
must ensure that Party B has the absolute leadership authority over the
dispatched crewmen.  During the term of the contract, the dispatched
crewmen must follow the operation arrangement from Party B’s safety and shipping
service scheduling department.

    4.5           Party
A will pay salaries and bonuses to the dispatched crewmen, withhold and pay on
their behalf personal income taxes and make payment for them of all the State
mandated insurances, including but not limited to pensions insurance,
unemployment insurance, medical insurance, family planning insurance, injury
insurance, housing fund and commercial insurance.

    

    5.           Party
A has the following rights:

    5.1           Party
A has the right to receive the crewmen dispatch fee pursuant to the provisions
herein;

    5.2           Upon
the occurrence of any of the following during the term of this contract, Party A
can request to dissolve the crewmen dispatch relationship with Party B without
any liabilities; but such request must be sent to Party B in writing 30 days in
advance:

    (1)           Party
B violates the State laws and statues and the relevant provisions
herein;

    (2)           Party
B’s actions violate the dispatched crewmen’s legitimate rights and
interests;

    (3)           Party
B refuses to pay the crewmen dispatch fee or Party B’s payment of such fee is a
month past due.

    

    Article
III        Party B’s Rights and
Obligations

    

    6.           Party
B has the following rights:

    6.1           Party
B has the right to conduct assessment on the crewmen dispatched by Party
A.

    If the
dispatched crewmen do not have the qualifications or skills required of their
respective posts, Party B has the right to demand Party A to replace them and
Party A shall not refuse such demand.  Party A must bear corresponding
responsibility if the dispatched crewmen’s lack of qualifications or skills
causes any loss to Party B.

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    6.2           Party
B has the right to require the dispatched crewmen to comply with all the rules
and policies formulated in accordance with the relevant State laws and policies
and follow Party B’s production and operation arrangements.

    6.3           If
the dispatched crewmen engage in any of the following during the term of the
contract, Party B has the right, upon Party A’s acknowledgement, to send them
back to Party A without any liability for breach:

    (1)           Violation
of Party B’s work disciplines or rules and regulations, and after criticism and
education, failure to make any correction or rectification;

    (2)           Negligence
of duties, resulting in serious loss or damage to Party B’s
interests;

    (3)           Violation
of law and statutes or being the subject of criminal legal
proceedings;

    (4)           Inability
to perform original work duties after treatment period for illness or
work-related injury and inability, or refusal, to perform other work assigned by
Party A;

    If the
dispatched crewmen seriously violate Party B’s legitimate rules and regulations
(this provision should be made known to the dispatched crewmen and Party A) and
there is solid evidence of such violation, Party B may submit report in writing
to Party A and, upon Party A’s acknowledgement, terminate the said crewmen’s
dispatch.   In the meantime, Party A must dispatch replacement
crewmen.

    6.4           Party
B has the right to submit written opinion on, and negotiate with regard to, the
behavior that violates the relevant provisions of this
contract.  Party A must respond to Party B in writing within 10
business days upon receiving the written opinion from Party B.

    

    7.           Party
B has the following obligations:

    7.1           Manage
the dispatched crewmen in such areas as their posts’ duties and responsibilities
and labor discipline and provide them with relevant training;

    7.2           Provide
to the dispatched crewmen working environment and labor conditions that are in
compliance with the provisions of the State’s “Labor Law”;

    7.3           Pay
the crewmen dispatch fee in accordance with the provisions of this
contract;

    If Party B fails to pay the crewmen
dispatch fee on time pursuant to the provisions of this contract, Party B must
pay a breach penalty at the daily rate of 0.1% of the total of the unpaid or
past due crewmen dispatch fee; but the cumulative total of such breach penalty
shall not exceed 5% of the total crewmen dispatch fee for the corresponding
period.

    7.4           Ensure
that the dispatched crewmen have all the rights and interests provided by the
State’s “Labor Law” during the term of service and assume the obligations and
responsibilities provided by the State’s “Labor Law”;

    7.5           Shall
not suspend or terminate those dispatched crewmen while they are in pregnancy,
labor or nursing periods and in the required treatment period for illness or
injury; pay to Party A the corresponding expenses for those dispatched crewmen
who suffer work-related injury or contract occupational disease and, upon
verification, have lost, or partially lost, their ability to work and who suffer
work-related death in accordance with the relevant provisions of the “Labor
Law”;

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    7.6           Supervise
in the processing of relevant legal work documents for the dispatch crewmen
required for the term of service and educate them on the adherence of
disciplines and compliance of law;

    7.7           Notify
Party A fifteen business days in advance in the event of relocation of work
location due to business need; notify Party A two business days in advance in
the event of any change of contact telephone number, fax number or bank account
number;

    7.8           Follow
strictly the specification of the assignment posts stipulated in the contract;
consult with Party A on any need to change the posts for the dispatched crewmen
and bear all consequences resulting from changing the posts of the dispatched
crewmen without prior consultation with Party A.

    7.9           Party
A and Party B must be responsible for handling the cases of work-related
injuries and accidental death suffered by the dispatched crewmen in accordance
with the relevant State regulations, with Party B bearing the corresponding
expenses.

    

    Article
IV        Dispute and
Arbitration

    

    8.           Any
dispute arising from performance of, or in connection with, this contract must
be settled through consultation; if such consultation fails, either party may
submit the dispute to the legal proceedings at the people’s court in Fuzhou
City.

    

    Article
V        Others

    

    9.           Other
matters not covered herein must be settled by Party A and Party B through
consultation or be provided in supplemental agreement formulated in accordance
with relevant provisions of the State law, statutes and
regulations.

    

    10.         If
any content herein conflicts with the State law or policies, or is inconsistent
due to the changes of the law and policies, the provisions of the law or such
policies shall prevail.

    

    11.         All
attachments hereto are the component parts hereto and have the same legal
effect.

    

    12.         The
contract becomes effective on the date it is signed and imprinted with the seals
by both parties.

    

    13.         This
contract is in duplicates, with one to each party, and both have the same legal
effect.

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    Signature
(Seal) of Party A’s representative:

    /s/ HUANG
Jian

    /seal/
(seal visible but not legible)

    Date:   February
21, 2008

    

    Signature
(Seal) of Party B’s representative:

    /s/ LIN
Qing

    /seal/
(seal visible but not legible)

    Date:   February
21, 2008

    

    Attachment:
List of Dispatched Crewmen

    
      
        
          
            	
                    Post

                  	 	
                    Number

                  
	
                    Cook

                  	 	
                    1

                  
	
                    Seaman

                  	 	
                    7

                  
	
                    Mechanic

                  	 	
                    7

                  
	
                    Total

                  	 	
                    15Crewmen
Dispatch Contract

    (“Xinggang
Dredging 6”)

    

    (Unofficial
Translation)

    

    
      	
              PartyA:

            	
              Fujian
      Haiyi International Shipping Service Agency Co.,
  Ltd.

            

    

    
      	
              PartyB:

            	
              Fujian
      Xinggang Shipping Service Co., Ltd.

            

    

     

    Party A and Party B, after friendly
consultation based on the principles of equality and mutual benefit, have
reached the agreement regarding the matter of Party A dispatching crewmen to
work at relevant posts on Party B’s dredging engineering boat “Xinggang Dredging
6” and set forth the following provisions to be adhered to by both:

     

    Article
I           Generals

    

    1.           The
term “dispatched crewmen” used herein means those crewmen who are dispatched by
Party A, pursuant to the provisions herein, to work at relevant posts on Party
B’s dredging engineering boat “Xinggang Dredging 6”; see attachment for the list
of dispatched crewmen.

    

    2.           The
two parties agree that the monthly crewmen dispatch fee is RMB Sixty-Eight
Thousand Five Hundred Yuan (¥68,500.00).  Party
B must pay the crewmen dispatch fee to Party A at the end of each
quarter.  If a period is less than a month, the fee for the period is
calculated on the basis of one month.

    The said labor dispatch fee includes
all the fees and expenses such as the dispatched crewmen’s salaries, all
benefits and insurances (including but not limited to pensions insurance,
unemployment insurance, medical insurance, family planning insurance, injury
insurance, housing fund and commercial insurance) and bonuses.

    

    3.         
  Term of the contract

    This
contract becomes effective on April 21, 2008 and terminates on April 20,
2011.

     

    Article
II           Party A’s
Rights and Obligations

    

    4.        
   Party A has the following obligations:

    4.1           Recommend
the crewmen candidates in accordance with the provisions of this
contract.

    Educate the dispatched crewmen on the
compliance with the State laws, statutes and regulations; educate the dispatched
crewmen on the compliance with Party B’s rules and policies, on maintaining
confidentiality of commercial secrets and on safeguarding Party B’s legitimate
rights and interests.

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    

    4.2           Ensure
that the dispatched crewmen have the qualifications and skills required of their
respective posts and possess valid and complete employment qualification
documents, including but not limited to crewmen service books, maritime crewmen
professional training certificates and maritime crewmen service competency
certificates.

    4.3           Party
B must notify Party A in writing, three business days in advance, of the
boarding time and boarding location for the crewmen dispatched by Party
A.  Party A must ensure that all the dispatched crewmen will report
for duty at the time and location specified by Party B.

    If there is any factor on Party B’s
part that causes a waiting period of more than half a month before the
dispatched crewmen can be aboard, Party B must still pay the same amount
salaries to Party A; if the waiting period exceeds a month, Party A has the
right to terminate this contract.

    4.4           After
the dispatched crewmen have passed assessment and been assigned by Party B,
Party A shall not issue command at will to and replace them.  Party A
must ensure that Party B has the absolute leadership authority over the
dispatched crewmen.  During the term of the contract, the dispatched
crewmen must follow the operation arrangement from Party B’s safety and shipping
service scheduling department.

    4.5           Party
A will pay salaries and bonuses to the dispatched crewmen, withhold and pay on
their behalf personal income taxes and make payment for them of all the State
mandated insurances, including but not limited to pensions insurance,
unemployment insurance, medical insurance, family planning insurance, injury
insurance, housing fund and commercial insurance.

    

    5.        
   Party A has the following rights:

    5.1           Party
A has the right to receive the crewmen dispatch fee pursuant to the provisions
herein;

    5.2           Upon
the occurrence of any of the following during the term of this contract, Party A
can request to dissolve the crewmen dispatch relationship with Party B without
any liabilities; but such request must be sent to Party B in writing 30 days in
advance:

    (1)           Party
B violates the State laws and statues and the relevant provisions
herein;

    (2)           Party
B’s actions violate the dispatched crewmen’s legitimate rights and
interests;

    (3)           Party
B refuses to pay the crewmen dispatch fee or Party B’s payment of such fee is a
month past due.

     

    Article
III           Party B’s
Rights and Obligations

    

    6.      
     Party B has the following rights:

    6.1           Party
B has the right to conduct assessment on the crewmen dispatched by Party
A.

    If the
dispatched crewmen do not have the qualifications or skills required of their
respective posts, Party B has the right to demand Party A to replace them and
Party A shall not refuse such demand.  Party A must bear corresponding
responsibility if the dispatched crewmen’s lack of qualifications or skills
causes any loss to Party B.

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    

    6.2           Party
B has the right to require the dispatched crewmen to comply with all the rules
and policies formulated in accordance with the relevant State laws and policies
and follow Party B’s production and operation arrangements.

    6.3           If
the dispatched crewmen engage in any of the following during the term of the
contract, Party B has the right, upon Party A’s acknowledgement, to send them
back to Party A without any liability for breach:

    (1)           Violation
of Party B’s work disciplines or rules and regulations, and after criticism and
education, failure to make any correction or rectification;

    (2)           Negligence
of duties, resulting in serious loss or damage to Party B’s
interests;

    (3)           Violation
of law and statutes or being the subject of criminal legal
proceedings;

    (4)           Inability
to perform original work duties after treatment period for illness or
work-related injury and inability, or refusal, to perform other work assigned by
Party A;

    If the
dispatched crewmen seriously violate Party B’s legitimate rules and regulations
(this provision should be made known to the dispatched crewmen and Party A) and
there is solid evidence of such violation, Party B may submit report in writing
to Party A and, upon Party A’s acknowledgement, terminate the said crewmen’s
dispatch.   In the meantime, Party A must dispatch replacement
crewmen.

    6.4           Party
B has the right to submit written opinion on, and negotiate with regard to, the
behavior that violates the relevant provisions of this
contract.  Party A must respond to Party B in writing within 10
business days upon receiving the written opinion from Party B.

    

    7.       
    Party B has the following obligations:

    7.1           Manage
the dispatched crewmen in such areas as their posts’ duties and responsibilities
and labor discipline and provide them with relevant training;

    7.2           Provide
to the dispatched crewmen working environment and labor conditions that are in
compliance with the provisions of the State’s “Labor Law”;

    7.3           Pay
the crewmen dispatch fee in accordance with the provisions of this
contract;

    If Party B fails to pay the crewmen
dispatch fee on time pursuant to the provisions of this contract, Party B must
pay a breach penalty at the daily rate of 0.1% of the total of the unpaid or
past due crewmen dispatch fee; but the cumulative total of such breach penalty
shall not exceed 5% of the total crewmen dispatch fee for the corresponding
period.

    7.4           Ensure
that the dispatched crewmen have all the rights and interests provided by the
State’s “Labor Law” during the term of service and assume the obligations and
responsibilities provided by the State’s “Labor Law”;

    7.5           Shall
not suspend or terminate those dispatched crewmen while they are in pregnancy,
labor or nursing periods and in the required treatment period for illness or
injury; pay to Party A the corresponding expenses for those dispatched crewmen
who suffer work-related injury or contract occupational disease and, upon
verification, have lost, or partially lost, their ability to work and who suffer
work-related death in accordance with the relevant provisions of the “Labor
Law”;

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    

    7.6           Supervise
in the processing of relevant legal work documents for the dispatch crewmen
required for the term of service and educate them on the adherence of
disciplines and compliance of law;

    7.7           Notify
Party A fifteen business days in advance in the event of relocation of work
location due to business need; notify Party A two business days in advance in
the event of any change of contact telephone number, fax number or bank account
number;

    7.8           Follow
strictly the specification of the assignment posts stipulated in the contract;
consult with Party A on any need to change the posts for the dispatched crewmen
and bear all consequences resulting from changing the posts of the dispatched
crewmen without prior consultation with Party A.

    7.9           Party
A and Party B must be responsible for handling the cases of work-related
injuries and accidental death suffered by the dispatched crewmen in accordance
with the relevant State regulations, with Party B bearing the corresponding
expenses.

     

    Article
IV           Dispute and
Arbitration

    

    8.           Any
dispute arising from performance of, or in connection with, this contract must
be settled through consultation; if such consultation fails, either party may
submit the dispute to the legal proceedings at the people’s court in Fuzhou
City.

     

    Article
V           Others

    

    9.           Other
matters not covered herein must be settled by Party A and Party B through
consultation or be provided in supplemental agreement formulated in accordance
with relevant provisions of the State law, statutes and
regulations.

    

    10.          If
any content herein conflicts with the State law or policies, or is inconsistent
due to the changes of the law and policies, the provisions of the law or such
policies shall prevail.

    

    11.          All
attachments hereto are the component parts hereto and have the same legal
effect.

    

    12.          The
contract becomes effective on the date it is signed and imprinted with the seals
by both parties.

    

    13.          This
contract is in duplicates, with one to each party, and both have the same legal
effect.

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    Signature (Seal) of Party A’s representative:

    /s/ HUANG
Jian

    /seal/
(seal visible but not legible)

    Date:     April
21, 2008

    

    Signature
(Seal) of Party B’s representative:

    /s/ LIN
Qing

    /seal/
(seal visible but not legible)

    Date:     April
21, 2008

     

    Attachment:
List of Dispatched Crewmen

    
      
        
          
            
              	
                      Post

                    	 	
                      Number

                    
	
                      Cook

                    	 	
                      1

                    
	
                      Seaman

                    	 	
                      7

                    
	
                      Mechanic

                    	 	
                      5

                    
	
                      Total

                    	 	
                      13

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