Document:

Unassociated Document

    
      

    

    EXHIBIT
      10.2

     

    MEMOMORANDUM
      OF AGREEMENT

     

    
      
        	
                Norwegian
                  Shipbroker’s Association’s Memorandum of Agreement for sale and purchase
                  of ships adopted by the Baltic and international maritime council
                  (BIMCO)
                  in 1956 

                Code
                  name SALEFORM
                  1987

                Revised
                  1966, 1983 and 1986

              

      

      

      
        	
                FIRST
                  ORIGINAL OF TWO

              

      

       

    

    Dated:
      14
      June 2006

    

    A.P.Moller
      - Maersk A/S, Esplanaden 50, 1098 Copenhagen K,
      Denmark

    hereinafter
      called the Sellers, have to-day sold, and 

    

    Marzia
      Shipping Limited

    Mareva
      House 

    4
      george Street

    Nassau
      

    Bahamas

    

    MC
      Shipping Inc., 12 Par-la-ville road, Hamilton, HM CX, Bermuda guarantee the
      performance of Marzia Shipping Limited

    hereinafter
      called the Buyers, have to-day bought 

    

    LPG/C
      “HANS MAERSK” 

    hereinafter
      called the Vessel

    

    Classification:
      Lloyds
      Register

    
      	
              Built:
                1993

            	
              By:
                Hyundai
                Heavy Industries Co.
                Ltd.

            

    

    
      	
              Flag:
                Danish

            	
              Place
                of Registration: Hellerup

            

    

    
      	
              Call
                Sign: OWQF5

            	
              Register
                Tonnage: GT
                18,360/NT 5,508

            

    

    Register IMO Number:
      9034690 

    on
      the
      following conditions: 

    

    1.
      Price 

    Price:
      USD
      40,000,000
      (United States Dollars Forty Million)
      hereinafter called the Purchase Money, net in cash

    

    2.
      Deposit 

    As
      security for the correct fulfillment of this contract the
      Buyers shall pay a deposit of 10 % (ten per cent) of the Purchase Money within
      banking days from the date of this Agreement. This deposit shall be deposited
      with

    10
      (ten) percent of the Purchase Money is to be deposited by the Buyers into a
      joint interest bearing account n° 60308186 in the names of the Buyers and the
      Sellers at HSBC Bank, 8 Canada Square, London E14 5HQ, United Kingdom within
      3
      (three) banking days after this agreement has been signed on fax by both
      parties, which not to be unduly delayed. Interest if any to be credited to
      the
      Buyers. 

    Costs
      for such joint interest bearing account and closing at HSBC Bank to be shared
      equally between the Buyers and the Sellers.

    Documentary
      closing to take place in London.

    and
      held by them in a joint account for the Sellers and the Buyers. Interest, if
      any, to be credited to the Buyers.
      Any fee charged for holding the said deposit shall be borne equally by the
      Sellers and the Buyers.
      

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    3.
      Payment 

    The
      10 (ten) percent deposit shall be released and the 90 (ninety) percent of
      the The
      said
      Purchase Price shall be paid in full free of bank charges to Citibank,
      N.A.; London Branch, Citigroup Centre, Canary Wharf, London, Account number:
      000
      308 6615, SWIFT: CITIGB2L, account holder: A.P.Moller - Maersk
      A/S.

    on
      delivery of the Vessel, but not later than 3 banking days after the Vessel
      is
      ready for delivery and written or
      telexed
      notice
      thereof has been given to the Buyers by the Sellers.

    

    4.
      Inspections 

    The
      Buyers have physically inspected the vessel in Naples, Italy between 20-21
      March
      2006 and have accepted the vessel.

    The
      Buyers have inspected the vessel’s class records with Det Norske Veritas and
      have accepted same.

    This
      agreement is thus not subject to any further
      inspections.

    The
      Buyers shall have the right to inspect the Vessel's classification records
      and
      declare whether same are accepted or not within 

    The
      Sellers shall provide for inspection of the Vessel at/in 

    The
      Buyers shall undertake the inspection without undue delay to the Vessel. Should
      the Buyers cause such delay, they shall compensate the Sellers for the losses
      thereby incurred.

    The
      Buyers shall inspect the Vessel afloat without opening up and without cost
      to
      the Sellers. During the inspection, the Vessel's log books for engine and deck
      shall be made available for the Buyers’ examination. If the Vessel is accepted
      after such afloat inspection, the purchase shall become definite, except for
      other possible subjects in this contract provided the Sellers receive written
      or
      telexed notice of acceptance from the Buyers within 48 hours after completion
      of
      such afloat inspection. Should notice of acceptance of the Vessel's
      classification records and of the vessel not be received by the Sellers as
      aforesaid, the deposit shall immediately be released to the Buyers, whereafter
      this Agreement shall be considered null and void. 

    

    5.
      Place and time of delivery 

    The
      Vessel shall be delivered to
      /
      and
      taken over at/in by
      the Buyers safely afloat at a safe berth / anchorage in one safe port in the
      Sellers’ 

    Expected
      time of delivery: 

    Date
      of
      cancelling (see Clause 14): 31
      July 2006 in the buyers’s option.

    The
      Sellers shall keep the Buyers well posted about the vessel’s itinerary and
      estimated time and place of drydocking.

    Should
      the Vessel become a total or constructive loss before delivery the deposit
      shall
      immediately be released to the Buyers and the contract thereafter considered
      be
      null and void. 

    The
      Sellers are to keep the Buyes updated on the vessel’s position with regard to
      the anticipated delivery date/place, and forward to the Buyers 30/20/15/10/5
      and
      3 days approximate notice of delivery.

    

    6.
      No
      Drydocking
      (see clause 16)

    In
      connection with the delivery the Sellers shall place the Vessel in drydock
      at
      the port of delivery for inspection by the Classification Society of the bottom
      and other underwater parts below the Summer load line. If the rudder, propeller,
      bottom or other underwater parts below the Summer load line to be found broken,
      damaged or defective so as to affect the Vessel's clean certificate of class,
      such defects shall be made good at the Sellers' expense to 1) satisfaction
      without qualification on such underwater parts2).

    Whilst
      the vessel is in drydock, and if required by the Buyers or the representative
      of
      the Classification Society, the Sellers shall arrange to have the tail end
      shaft
      drawn. Should same be condemned or found defective so as to affect the vessel’s
      clean certificate of class, it shall be renewed or made good at the Sellers’
expense to the Classification Society satisfaction without
      qualification.

    The
      expenses of drawing and replacing the tail end shaft shall be borne by the
      Buyers unless the Classification Society requires the tail end shaft to be
      drawn, unless the Classification Society requires the tail end shaft to be drawn
      (whether damaged or not), renewed or made good in which event the Sellers shall
      pay these expenses. 

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    The
      expenses in connection with putting the vessel in and taking her out of drydock,
      including drydock dues and the Classification Surveyor's fees shall be paid
      by
      the Sellers if the rudder, propeller, bottom, or other underwater parts below
      the Summer load line or the tail end shaft be found broken, damaged or defective
      as aforesaid or if the Classification Society requires the tail end shaft to
      be
      drawn (whether damaged or not). In all other cases the Buyers shall pay the
      aforesaid expenses, dues and fees.

    During
      the above mentioned inspections by the Classification Society the Buyers'
      representative shall have the right to be present in the drydock, but without
      interfering with the Classification Surveyor’s decisions. 

    The
      Sellers shall bring the vessel to the drydock and from the drydock to the place
      of delivery at their own expense.

    

    7.
      Spares/bunkers, etc. 

    The
      Sellers shall deliver the Vessel to the Buyers with everything belonging to
      her
      on board including
      all broached/unbroached stores and provisions and
      on shore.
      All
      spare parts and spare equipment including
      spare tail-end shaft(s) and/or spare propeller(s)/propeller blade(s), if
      any,
      belonging to the Vessel at the time of inspection used or unused, whether on
      board or not shall become the Buyers' property, but spares on order to be
      excluded.
      Forwarding charges, if any, shall be for the Buyers'
      account.
      The
      Sellers are not required to replace spare parts including
      spare tail-end shaft(s) and spare propeller(s)/propeller blade(s)
which
      are
      taken out of spare and used as replacement prior to delivery, but the replaced
      items shall become
      the
Buyers’
      property
of
      the Buyers.
      The
      radio installation and navigational equipment shall be included in the sale
      without extra payment if they are the property of the Sellers.

    There
      is no spare tail-shaft or spare propeller included in the
      sale.

    The
      Sellers have the right to take ashore crockery, plates, cutlery, linen and
      other
      articles bearing the 

    Sellers'
      flag or name, provided they replace same with similar unmarked items. Library,
      forms, etc., 

    exclusively
      for use in the Sellers' vessel(s), shall be excluded without compensation.
      Captain's,
      Master’s,
      Officers' and Crew's personal belongings including the slop chest are to be
      excluded from the sale, as well as the following additional items: 

    

    
      	 	
              -

            	
              log
                books for deck/engine, however the Buyers can have copies of same
                as far
                back as available in the Sellers’ record
                system.

            

    

    
      	 	
              -

            	
              Unitor
                bottles

            

    

    
      	 	
              -

            	
              Slop
                chest

            

    

    
      	 	
              -

            	
              Pictures
                and paintings in the Sellers’
                option

            

    

    
      	 	
              -

            	
              Documents
                directly related to present
                ownership

            

    

    
      	 	
              -

            	
              Documents
                which have to be returned to the
                authorities

            

    

    
      	 	
              -

            	
              All
                forms etc. which are related to the present
                ownership

            

    

    
      	 	
              -

            	
              The
                vessel’ maintenance system for hull and machinery, however the Buyers have
                the right to have printout of vessel’s recent
                history.

            

    

    
      	 	
              -

            	
              Computer
                software for pc’s either developed by or licensed to the Sellers, except
                loadmaster computer which is included in the
                sale

            

    

    
      	 	
              -

            	
              Ship’s
                bell, however, the Sellers undertake to replace the same at their
                cost

            

    

    
      	 	
              -

            	
              Digital
                cameras and mobile
                telephones

            

    

    
      	 	
              -

            	
              All
                hired and rented
                equipment

            

    

    

    Included
      items are:

    
      	 	
              -

            	
              sea
                paint stocks

            

    

    
      	 	
              -

            	
              welfare
                equipment to be included except personal
                belongings

            

    

    
      	 	
              -

            	
              EPIRB
                to be included, the Buyers will have to amend the signal upon
                delivery.

            

    

    
      	 	
              -

            	
              Administrative
                LAN server to be included. The Sellers will delete all information
                and
                software before
                delivery.

            

    

    

    The
      Buyers shall take over remaining unused lubricating oils (broached or unbroached
      in tanks or drums) at the time of delivery paying Oil Major’s list prices in the
      port of delivery at the time of delivery less 45% percent
      discount.

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    The
      Buyers
      shall take over the
      remaining bunkers are
      excluded from the sale and remain the Sellers’
property,
      unused lubricating oilsand unused stores and provisions and pay the current
      net
      market price at the port and date of delivery of the Vessel.

    Payment
      under this Clause shall be made at the same time and place and in the same
      currency as 

    the
      Purchase Money. 

    

    8.
      Documentation 

    In
      exchange for payment of the Purchase Money the Sellers shall furnish the Buyers
      with legal
      Bill of Sale
      all delivery documentation that may be reasonably required by the Buyers for
      the
      transfer of tiltle/flag of
      the said vessel free from all encumbrances and maritime liens or any other
      debts
      whatsoever, duly notarially attested and legalized by the consul together with
      a
      certificate stating the vessel is free from registered encumbrances. On delivery
      of the vessel the Sellers shall provide for the deletion of the vessel from
      the
      Registry of Vessels and deliver a certificate of deletion to the Buyers. The
      deposit shall be placed at the disposal of the Sellers as well as the balance
      of
      the Purchase Money, which shall be paid as agreed together with payment for
      items mentioned in clause 7 above.

    The
      Sellers shall, at the time of delivery, hand to the Buyers all classification
      certificates as well as all plans
      etc., which are on board the Vessel. Other technical documentation which may
      be
      in the Sellers’ possession shall promptly upon the Buyers’ instructions be
      forwarded to the Buyers at
      the Buyers’ cost.

    The
      Sellers may keep the log books but the Buyers to have the right to take copies
      of same.

    

    9.
      Encumbrances 

    The
      Sellers warrant that the Vessel, at the time of delivery, is free from all
      encumbrances and maritime liens or any other debts whatsoever. Should any claims
      which have been incurred prior to the time of delivery be made against the
      vessel, the Sellers hereby undertake to indemnify the Buyers against all
      consequences of such claims.

    

    10.
      Taxes, etc. 

    Any
      taxes, fees and expenses in connection with the purchase and registration under
      the Buyers' flag shall
      be
      for the Buyers' account, whereas similar charges in connection with the closing
      of the Sellers' register
      shall be for the Sellers' account. 

    

    11.
      Condition on delivery 

    The
      Vessel with everything belonging to her shall be at the Sellers' risk and
      expense until she is delivered to the Buyers, but subject to the terms and
      conditions of this contract, she shall be delivered and taken over as she
was is
      at the
      time of inspection, normal fair
      wear and
      tear excepted. 

    However,
      the Vessel shall be delivered with present class maintained,
      free of
conditions
      recommendations
      of
      class, free of average damage affecting maintenance of class with her hull
      and
      machinery continuous survey cycle fully up to date. Class and national and
      international trading certificates valid and unextended for minimum 6 (six)
      months at the time of delivery.
      The
      Sellers shall notify the Classification Society of any matters coming to their
      knowledge prior to delivery which upon being reported to the Classification
      Society would lead to the withdrawal of the vessel’s class or to the imposition
      of a recommendation to her class.

    

    12.
      Name/markings 

    Upon
      delivery the Buyers undertake to change the name of the Vessel and
      alter funnel markings.
      to the Sellers nominated Maersk name at their expense and time prior to leaving
      the port of delivery. The Buyers undertake to change the blue hull colour and
      funnel markings and the nominated Maersk name at the next drydocking or next
      convenient place whichever comes first at the Buyers time and expense However
      always no later than redelivery under the Time Charter Agreement to A.P. Moller
      - Maersk A/S.

    

    13.
      Buyers' default 

    Should
      the deposit not be paid as aforesaid, the Sellers have the right to cancel
      this
      contract, and they shall be entitled to claim compensation for their losses
      and
      for all expenses incurred together with interest at the rate of 12% 8%
      per
      annum.

    Should
      the Purchase Money not be paid as aforesaid, the Sellers have the right to
      cancel this contract, in which case the amount deposited together with interest
      earned, if any, shall be forfeited to the Sellers. If the deposit does not
      cover
      the Sellers’ losses, they shall be entitled to claim further compensation for
      their losses and for all expenses incurred together with interest at the rate
      of
12% 8%
      per
      annum.

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    14.
      Sellers' default 

    Should
      the Sellers fail to execute a legal transfer or to deliver the vessel with
      everything belonging to her in the manner and within the time specified
herein in
      line 38,
      the
      Buyers shall have the right to cancel this contract in which case the deposit
      in
      full shall be returned to the Buyers together with interest at the rate of
      8% 12%
      per
      annum. The Sellers shall make due compensation for the losses caused to the
      Buyers by failure to execute a legal transfer or to deliver the vessel in the
      manner and within the time specified herein in
      line 38
      , if
      such are due to the proven negligence of the Sellers.

    

    15.
      Arbitration 

    If
      any
      dispute should arise in connection with the interpretation and fulfillment
      of
      this contract, same shall be decided by arbitration in the city of 3)
London
      governed by English law
      and
      shall be referred to a single Arbitrator to be appointed by the parties hereto.
      If the parties cannot agree upon the appointment of the single Arbitrator,
      the
      dispute shall be settled by three Arbitrators each party appointing one
      Arbitrator, the third being appointed by 4)
      the London Maritime Arbitrators’s Association in
      London.

    If
      either
      of the appointed Arbitrators refuses or is incapable of acting, the party who
      appointed him shall appoint a new Arbitrator in his place. 

    If
      one of
      the parties fails to appoint an Arbitrator either originally or by way of
      substitution for two weeks after the other party having appointed his Arbitrator
      has sent the party making default notice by mail, cable or telex to make the
      appointment, the party appointing the third Arbitrator shall, after application
      from the party having appointed his Arbitrator, also appoint an Arbitrator
      on
      behalf of the party making default.

    The
      award
      rendered by the arbitration court shall be final and binding upon the parties
      and may if necessary be enforced by the Court or any other competent authority
      in the same manner as a judgment in the Court of Justice.

    The
      Contract shall be subject to the law of the country agreed as place of
      arbitration.

    

    Clauses
      16 - 19 all inclusive as attached hereto shall form an integral part of this
      agreement.

    

    
      	
              For
                the Sellers:

            	 	
              For
                the Buyers:

            
	
              AP
                Moller - Maersk A/S

            	 	
              Marzia
                Shipping Limited

            
	 	 	 
	 	 	 
	 	 	 
	 	 	
              The
                Guarantor

            
	 	 	
              MC
                Shipping Inc.

            

    

    

    

    
      	 	
              1)

            	
              The
                name of the Classification Society to be
                inserted.

            

    

    
      	 	
              2)

            	
              Notes,
                if any, in the Surveyor’ s report which are accepted by the Classification
                Society without qualification are not to be taken into
                account.

            

    

    
      	 	
              3)

            	
              The
                place of arbitration to be inserted. If this line is not filled in,
                it is
                understood that arbitration will take place in London in accordance
                with
                English law.

            

    

    
      	 	
              4)

            	
              If
                this line is not filled in it is understood that the third Arbitrator
                shall be appointed by the London Maritime Arbitrators’ Association in
                London.

            

    

    

    This
      document is a computer generated SALEFORM 1987 Memorandum of Agreement printed
      by authority of the Norwegian Shipbrokers’ Association, using software which is
      the copyright of Strategic Software Ltd SSL). Any insertion or deletion to
      the
      form must be clearly visible. In the event of any modification made to the
      preprinted text of this document, ad which is not clearly visible, then the
      original approved document shall apply. The Norwegian Shipbrokers’ Association
      and SSL assume no responsibility for any loss or damage caused as a result
      of
      discrepancies between the original approved document and this
      document.

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    FIRST
      ORIGINAL OF TWO

    

    Additional
      Clauses to Memorandum of Agreement dated 14 June 2005

    

    “HANS
      MAERSK”

     

    
      
        

      

    

    

    
      	 	
              Clause
                16

            	
              No
                Drydocking /Divers’ Inspection 

            

    

    

    No
      drydocking, but prior to delivery of the vessel, the Buyers have the right
      to
      arrange at their risk and expense an inspection of the vessel’s underwater parts
      by a class approved diver.

    

    If
      the
      visibility underwater at the delivery port is considered insufficient by the
      diver(s) for the inspection to be carried out sufficiently, then the Sellers
      shall at their expense shift the vessel to waters in / outside port of delivery
      where water is suitable for the aforesaid underwater inspection to be carried
      out.

    

    Should
      any damage be found to the vessel’s underwater parts that will impose a
      condition of the vessel’s present class then:

    

    
      	 	
              1.

            	
              In
                case class imposes a condition but does not require drydocking before
                next
                scheduled drydocking, the Sellers shall pay to the Buyers the estimated
                cost to repair such damage in a way which is acceptable to class
                which to
                be the direct cost to repair such damage only, as per average quotation
                by
                two reputable independent repair yards in the vessel’s trading area, one
                chosen by the Sellers and one chosen by the Buyers. The amount agreed
                shall be deducted from the balance of the Purchase Money at the time
                of
                delivery.

            

    

    

    
      	 	
              2.

            	
              In
                case class requires the vessel to be drydocked before next scheduled
                drydock, the Sellers shall drydock the vessel at their expense prior
                to
                delivery of the vessel to the Buyers and repair same to class satisfaction
                free of conditions/average damage.

            

    

    

    The
      decision of the classification society as to whether underwater damage, if
      any,
      will impose any condition of class shall be final and binding on both
      parties.

    

    In
      the
      event the vessel is required to be drydocked, the Sellers have the right to
      take
      the vessel from the intended delivery port and proceed directly, in ballast,
      to
      a port in Sellers’ option for the aforesaid drydocking / repairs to take place.
      The cancelling date shall be extended per day pro rata for the extra time taken
      to deliver the vessel due to ballasting / drydocking / repairs to be carried
      out
      to class’ satisfaction in accordance with this agreement. Any extension of
      cancelling date not to exceed 7 (seven) weeks more than those agreed. If
      suitable drydocks in vicinity of the intended delivery port are occupied
      resulting in unreasonable waiting time the Sellers shall have the option to
      fix
      the vessel for the shortest possible loaded voyage positioning the vessel for
      later drydock availability. It is to be understood that this is purely for
      positioning for drydocking. Such option only provided damage/ class allow
      intermediate trading of the vessel in such case the cancelling date shall be
      extended to cover such laden voyage plus subsequent time required for
      positioning /drydocking/repairs - extensions on cancelling dates to be maximised
      to 7 (seven) weeks.

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    The
      Buyers have the right to attend the vessel at the drydock. The Buyers’ right to
      clean/paint and carry out other works whilst the vessel is in drydock at the
      Buyers’ risk and expense provided not interfering in the Sellers’ work and the
      Buyers’ work always subject to the Sellers’ superintendents’
supervision/directions.

    

    In
      the
      event that the Buyers’ works are not completed prior to the time the Sellers
      have completed their required works, then the Sellers have the right to tender
      notice of readiness whilst the vessel is still in drydock provided they are
      in
      all respects ready to deliver the vessel in accordance with this contract.
      Should the Buyers’ works still not be completed and the vessel is unable to
      leave drydock due to the Buyers’ works within 3 (three) banking days after the
      Sellers have tendered a valid notice of readiness, then the Buyers shall take
      delivery and pay for the vessel whilst remaining in drydock. Costs for
      docking/undocking shall be for the Sellers’ account. However, any extra time
      spent in drydock after valid notice of readiness tendered by the Sellers shall
      be for the Buyers’ account.

     

    
      	 	
              Clause
                17

            	
              Representatives

            

    

    

    Once
      the
      MoA has been signed and the 10% (ten) per cent deposit lodged the Buyers to
      have
      the right to place on board until delivery 2 (two) persons for familiarization
      purposes and without interfering in the vessel’s operation.

    

    The
      Buyers’ representatives are to sign the Sellers’ indemnity declaration for prior
      to embarkation.

    

    In
      any
      event the Buyers’ representatives are to board the vessel earliest 45 (forty
      five) days prior to the delivery of the vessel.

    

    
      	 	
              Clause
                18

            	
              Entire
                Agreement

            

    

    

    This
      Agreement constitute the only and entire agreement between the parties and
      supersede and replace any prior written or oral agreements, representations,
      statements or understandings between the Buyers and the Sellers relating to
      its
      subject matters.

    

    Each
      party confirms that it has not entered into this Agreement on the basis of
      any
      representation or statement which is not expressly incorporated into this
      Agreement. Without limiting the generality of the foregoing, neither party
      shall
      have any remedy in respect of any untrue representation or statement made to
      him
      upon which he may have relied in entering into this Agreement, and a party’s
      only remedy is for breach of contract. However, nothing in this Agreement
      purports to exclude liability for any fraudulent statement or act.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    This
      Agreement shall not be released, discharged, supplemented, interpreted, amended,
      varied or modified in any manner except by an addendum in writing signed by
      a
      duly authorized representative of each of the parties to this
      Agreement.

     

    
      	 	
              Clause
                19

            	
              Private
                & Confidential 

            

    

    

    This
      Agreement is to be kept strictly private and confidential. However, should
      despite the efforts of all parties involved details of the sale become known
      or
      reported to the market, neither the Sellers not the Buyers are to have the
      right
      to withdraw from the Agreement or fail to fulfill all their obligations under
      the agreed contract.

    

    Subject
      to Sellers preview and approval, Buyers are allowed to release any information
      as required by the rules and regulations under stock listing in the US.

    

    This
      Agreement has been drawn up and executed in 2 (two) originals, 1 (one) of which
      is to be retained by the Sellers and 1 (one) of which is to be retained by
      the
      Buyers.Unassociated Document

    
      

    

    EXHIBIT
      10.3

    

    MEMOMORANDUM
      OF AGREEMENT

    

    
      	
              Norwegian
                Shipbroker’s Association’s Memorandum of Agreement for sale and purchase
                of ships adopted by the Baltic and international maritime council
                (BIMCO)
                in 1956 Code name SALEFORM
                1993 

              Revised
                1966, 1983 and 1986/87

            

    

    

    Dated:
      21
      June 2006

    

    Startfell
      Shipping Limited
      hereinafter called the Sellers, have agreed to sell, and Kew
      Bridge Shipping Limited, guaranteed by MC Shipping Inc.

    hereinafter
      called the Buyers, have agreed to buy

    Name:
      LPG/C
      Immanuel Kant

    Classification
      Society/Class: GL+100
      A5 E with freeboard 4,3 m Type - 2G NLS Liquified Gas Tanker+ MC E AUT INERT
      RI

    

    
      	
              Built:
                By: 1983

            	
              By:
                Papenburg
                - Germany Os. L. Meyer

            

    

    

    
      	
              Flag:
                Norway

            	
              Place
                of Registration: Oslo

            

    

    

    
      	
              Call
                Sign: LALO5

            	
              Grt/Nrt:
                12,240
                / 3,793

            

    

    

    Register IMO
      Number: 8111867

    

    hereinafter
      called the Vessel, on the following terms and conditions:

    

    Definitions

    

    "Banking
      days" are days on which banks are open both in the country of the currency
      stipulated for the Purchase Price in Clause
      1
      and in
      the place of closing stipulated in Clause
      8.

    

    "In
      writing" or "written" means a letter handed over from the Sellers to the Buyers
      or vice versa, a registered letter, telex, telefax or other modern form of
      written communication.

    

    "Classification
      Society" or "Class" means the Society referred to in line
      4.

    

    1.
      Purchase Price USD 16,400,000.00 (Sixteen million four hundred thousand) to
      Owners Including 1% broker commission to Inge Steensland paid by the
      Sellers.

    

    2.
      Deposit

    

    As
      security for the correct fulfillment of this Agreement the Buyers shall pay
      a
      deposit of 10 % (ten per cent) of the Purchase Price within three
      (3) London
      banking
      days from the date of this Agreement has been signed by fax by both parties.
      This deposit shall be placed with HSBC
      Trinkaus + Burkhardt, P.O. Box 305405, 20317 Hamburg, Account Number to be
      nominated

    And
      held
      by them in a joint account for the Sellers and the Buyers, to be released in
      accordance with joint written instructions of the Sellers and the Buyers.
      Interest, if any, to be credited to the Buyers. Any fee charged for holding
      the
      said deposit shall be borne equally by the Sellers and the Buyers. Buyers
      to provide any documentation required by Sellers’ bank in order to open and
      maintain the

    joint
      account.

    

    3.
      Payment

    

    The
      said
      Purchase Price shall be paid in full free of bank charges to  Seller’s
      nominated bank account with HSBC Trinkaus+Burkhardt, P.O. Box 305405, 20317
      Hamburg, Account No: 490 8883 018, IBAN No. DE48 3003 0880 4908 8830 18, SWIFT:
      TUBDDEHH

    on
      delivery of the Vessel, but not later than 3 banking days after the Vessel
      is in
      every respect physically ready for delivery in accordance with the terms and
      conditions of this Agreement and Notice of Readiness has been given in
      accordance with Clause
      5.

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    4.
      Inspections

    

    a)*
      The
      Buyers have inspected and accepted the Vessel's classification records. The
      Buyershave also inspected the Vessel at/in
      Khorfakkan Anchorage on 07-08 May 2006

    and
      have
      accepted the Vessel following this inspection and the sale is outright and
      definite, subject only to the terms and conditions of this Agreement.

    

    b)*
      The Buyers shall have the right to inspect the Vessel's classification records
      and declare whether same are accepted or not within  later
      than 24 hour after receipt of the reports.

    The
      Sellers shall provide for inspection of the Vessel at/in

    The
      Buyers shall undertake the inspection without undue delay to the Vessel. Should
      the Buyers
      cause undue delay they shall compensate the Sellers for the losses thereby
      incurred. The
      Buyers shall inspect the Vessel without opening up and without cost to the
      Sellers. During
      the inspection, the Vessel's deck and engine log books shall be made available
      forexamination by the Buyers. If the Vessel is accepted after such inspection,
      the sale shall become
      outright and definite, subject only to the terms and conditions of this
      Agreement,
      provided
      the Sellers receive written notice of acceptance from the Buyers within 72
      hours after
      completion of such inspection. 

    Should
      notice of acceptance of the Vessel's classification records and of the Vessel
      not be received
      by the Sellers as aforesaid, the deposit together with interest earned shall
      be released
      immediately to the Buyers, whereafter this Agreement shall be null and
      void. 

    

    *
      4a)
      and 4b) are alternatives; delete whichever is not applicable. In the absence
      of
      deletions, alternative 4a) to apply.

    

    5.
      Notices, time and place of delivery

    

    a)
      The
      Sellers shall keep the Buyers well informed of the Vessel's itinerary and shall
      provide the Buyers with 20,15,10,7,3
      , and 1
      days
      notice of the estimated time of arrival at the intended place of drydocking/underwater
      inspection/delivery. When the Vessel is at the place of delivery and in every
      respect physically ready for delivery in accordance with this Agreement, the
      Sellers shall give the Buyers a written Notice of Readiness for delivery.

    

    b)
      The
      Vessel shall be delivered and taken over safely afloat at a safe and accessible
      berth or anchorage at/in
      within vessel’s trading area, always subject to the Pool’s schedule and
      commitments, port to be mutually agreed subject to Buyers’ reasonable
      acceptance. Vessel shall be delivered under inert gas or vapors of last
      cargo

    in
      the
      Sellers' option.

    

    Expected
      time of delivery: 15th
      June - 31st
      July 2006

    

    Date
      of
      cancelling (see Clauses
      5 c),
      6
      b)
      (iii)
      and
14):
      31st
      July 2006

    

    c)
      If the
      Sellers anticipate that, notwithstanding the exercise of due diligence by them,
      the Vessel will not be ready for delivery by the cancelling date they may notify
      the Buyers in writing stating the date when they anticipate that the Vessel
      will
      be ready for delivery and propose a new cancelling date. Upon receipt of such
      notification the Buyers shall have the option of either cancelling this
      Agreement in accordance with Clause
      14
      within 7
      running days of receipt of the notice or of accepting the new date as the new
      cancelling date. If the Buyers have not declared their option within 7 running
      days of receipt of the Sellers' notification or if the Buyers accept the new
      date, the date proposed in the Sellers' notification shall be deemed to be
      the
      new cancelling date and shall be substituted for the cancelling date stipulated
      in line
      61.
      

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    If
      this
      Agreement is maintained with the new cancelling date all other terms and
      conditions hereof including those contained in Clauses 5
      a)
      and
5
      c)
      shall
      remain unaltered and in full force and effect. Cancellation
      or failure to cancel shall be entirely without prejudice to
      any claim
      for damages the Buyers may have under Clause 14 for the Vessel not being ready
      by the
      original cancelling date.
      

    

    d)
      Should
      the Vessel become an actual, constructive or compromised total loss before
      delivery the deposit together with interest earned shall be released immediately
      to the Buyers whereafter this Agreement shall be null and void. 

    

    6.
      Drydocking/Divers Inspection 

    

    a)**
      The Sellers shall place the Vessel in drydock at the port of delivery for
      inspection by the Classification
      Society of the Vessel's underwater parts below the deepest load line,
      the extent
      of the inspection being in accordance with the Classification Society's rules.
      If the rudder, propeller, bottom or other underwater parts below the deepest
      load line are found broken,
      damaged or defective so as to affect the Vessel's class, such defects shall
      be
      made good at the Sellers' expense to the satisfaction of the Classification
      Society without condition/recommendation*.
      

    

    b)**
      (i)
      The Vessel is to be delivered without drydocking. However, the Buyers shall
      have
      the right at their expense to arrange for an underwater inspection by a diver
      approved by the Classification Society prior to the delivery of the Vessel.
      The
      Sellers shall at their cost make the Vessel available for such inspection.
      The
      extent of the inspection and the conditions under which it is performed shall
      be
      to the satisfaction of the Classification Society. If the conditions at the
      port
      of delivery are unsuitable for such inspection, the Sellers shall make the
      Vessel available at a suitable alternative place near to the delivery
      port.

    

    (ii)
      If
      the rudder, propeller, bottom or other underwater parts below the deepest load
      line are found broken, damaged or defective so as to affect the Vessel's class,
      then unless repairs can be carried out afloat to the satisfaction of the
      Classification Society, the Sellers shall arrange for the Vessel to be drydocked
      at their expense for inspection by the Classification Society of the Vessel's
      underwater parts below the deepest load line, the extent of the inspection
      being
      in accordance with the Classification Society's rules. If the rudder, propeller,
      bottom or other underwater parts below the deepest load line are found broken,
      damaged or defective so as to affect the Vessel's class, such defects shall
      be
      made good by the Sellers at their expense to the satisfaction of the
      Classification Society without condition/recommendation*. In such event the
      Sellers are to pay also for the cost of the underwater inspection and the
      Classification Society's attendance. 

    

    (iii)
      If
      the Vessel is to be drydocked pursuant to Clause
      6 b) (ii)
      and no
      suitable dry-docking facilities are available at the port of delivery, the
      Sellers shall take the Vessel to a port where suitable drydocking facilities
      are
      available, whether within or outside the delivery range as per Clause
      5 b).
      Once
      drydocking has taken place the Sellers shall deliver the Vessel at a port within
      the delivery range as per Clause
      5 b)
      which
      shall, for the purpose of this Clause, become the new port of delivery. In
      such
      event the cancelling date provided for in Clause
      5 b)
      shall be
      extended by the additional time required for the drydocking and extra steaming,
      but limited to a maximum of 14 running days. 

    

    However,
      if any damage is found to the underwater parts which affects the vessel’s class,
      but the class surveyor approves the Vessel to trade until the next class
      scheduled drydocking with the recommendation(s) relating to such damage, then
      the Sellers shall be liable for costs directly related to the repairs of such
      damage including the cost of procuring necessary spare part and forwarding
      charges, if any, based on the average of two quotations obtained from first
      class repairers, one each by the buyers and the Sellers, and the Buyers shall
      accept delivery of the Vessel as is with such recommendation(s). The average
      of
      the two quotations shall be deducted from the balance of the Purchase Price
      at
      the time of delivery. The class surveyor shall be the sole arbitrator as to
      whether the underwater damages, if any, will impose any recommendation(s).
      Should the scheduled number of days for the repairs exceed the scheduled number
      of days for the drydock then the vessel to be on-hire for those additional
      days.

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    c)
      If the
      Vessel is drydocked pursuant to Clause 6
      a)
      or
6
      b)
      above

    

    (i)
      the
      Classification Society may require survey of the tailshaft system, the extent
      of
      the survey being to the satisfaction of the Classification surveyor. If such
      survey is not required by the Classification Society, the Buyers shall have
      the
      right to require the tailshaft to be drawn and surveyed by the Classification
      Society, the extent of the survey being in accordance with the Classification
      Society's rules for tailshaft survey and consistent with the current stage
      of
      the Vessel's survey cycle. The Buyers shall declare whether they require the
      tailshaft to be drawn and surveyed not later than by the completion of the
      inspection by the Classification Society. The drawing and refitting of the
      tailshaft shall be arranged by the Sellers. Should any parts of the tailshaft
      system be condemned or found defective so as to affect the Vessel's class,
      those
      parts shall be renewed or made good at the Sellers' expense to the satisfaction
      of the Classification Society without condition/recommendation*. 

    

    (ii)
      the
      expenses relating to the survey of the tailshaft system shall be borne by the
      Buyers unless the Classification Society requires such survey to be carried
      out,
      in which case the Sellers shall pay these expenses. The Sellers shall also
      pay
      the expenses if the Buyers require the survey and parts of the system are
      condemned or found defective or broken so as to affect the Vessel's
      class*.

    

    (iii)
      the
      expenses in connection with putting the Vessel in and taking her out of drydock,
      including the drydock dues and the Classification Society's fees shall be paid
      by the Sellers if the Classification Society issues any
      condition/recommendation* as a result of the survey or if it requires survey
      of
      the tailshaft system. In all other cases the Buyers shall pay the aforesaid
      expenses, dues and fees. 

    

    (iv)
      the
      Buyers' representative shall have the right to be present in the drydock, but
      without interfering with the work or decisions of the Classification surveyor.
      

    

    (v)
      the
      Buyers shall have the right to have the underwater parts of the Vessel cleaned
      and painted at their risk and expense without interfering with the Sellers'
      or
      the Classification surveyor's work, if any, and without affecting the Vessel's
      timely delivery. If, however, the Buyers' work in drydock is still in progress
      when the Sellers have completed the work which the Sellers are required to
      do,
      the additional docking time needed to complete the Buyers' work shall be for
      the
      Buyers' risk and expense. In the event that the Buyers' work requires such
      additional time, the Sellers may upon completion of the Sellers' work tender
      Notice of Readiness for delivery whilst the Vessel is still in drydock
 and
      the
      Buyers shall be obliged to take delivery in accordance with Clause 3, whether
      the Vessel is in drydock or not and irrespective of Clause 5 b). 

    *
      Notes,
      if any, in the surveyor's report which are accepted by the Classification
      Society without condition/recommendation are not to be taken into account.
      

    **
      6
      a)
      and 6 b) are alternatives; delete whichever is not applicable. In the absence
      of
      deletions,alternative 6 a) to apply.

    

    7.
      Spares/bunkers, etc. 154

    

    The
      Sellers shall deliver the Vessel to the Buyers with everything belonging to
      her
      on board and on shore. All spare parts and spare equipment including spare
      tail-end shaft(s)
      and/or
      spare propeller(s)/propeller
      blade(s),
      if any,
      belonging to the Vessel at the time of inspection used or unused, whether on
      board or not shall become the Buyers' property, but spares on order are to
      be
      excluded. Forwarding charges, if any, shall be for the Buyers' account. The
      Sellers are not required to replace spare parts including spare tail-end
      shaft(s)
      and
      spare propeller(s)/propeller
      blade(s)
      which
      are taken out of spare and used as replacement prior to delivery, but the
      replaced items shall be the property of the Buyers. The radio installation
      and
      navigational equipment shall be included in the sale without extra payment
      if
      they are the property of the Sellers. Unused stores and provisions shall be
      included
      in the sale and be
      taken
      over by the Buyers without
      extra payment supported
      by vouchers.

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    Prior
      to delivery Sellers to prepare a list of major spares and stores on board and
      ashore.

    

    The
      Sellers have the right to take ashore crockery, plates, cutlery, linen and
      other
      articles bearing the Sellers' flag or name, provided they replace same with
      similar unmarked items. Library, forms, etc., exclusively for use in the
      Sellers' vessel(s), shall be excluded without compensation. Captain's, Officers'
      and Crew's personal belongings including the slop chest are to be excluded
      from
      the sale as well as the following additional items (including items on hire):
      Gas
      bottles, videotel library, safety library, entertainment library, GSM phone
      (sim
      card), Charterers software, Owners/Managers computer and communication software,
      Q/A manuals, Q/A documentation, Q/A certificates, correspondence with Maersk,
      logbooks and report files.

    

    Buyers
      agree to take over the licenses and pay any licence fees after the
      sale.

    

    The
      Buyers shall take over the remaining bunkers
      and
      unused
      lubricating oils in storage tanks and sealed drums and pay Seller’s
      net contract prices supported by vouchers. Bunkers on board at time of delivery
      are the property of Charterers.
      The
      current net market price (excluding barging expense)
      at
      the port and date

    of
      delivery of the Vessel.

    Payment
      under this Clause shall be made at the same time and place and in the same
      currency as the Purchase Price. 

    

    8.
      Documentation 

    The
      place
      of closing: London

    

    In
      exchange for payment of the Purchase Price the Sellers shall furnish the Buyers
      with delivery documents, namely: 

    

    a)
      Legal
      Bill of Sale in a form recordable in Bahamas
      (the
      country in which the Buyers are to register the Vessel), warranting that the
      Vessel is free from all encumbrances, mortgages and maritime liens or any other
      debts or claims whatsoever, duly notarially attested and legalized by the consul
      of such country or other competent authority.

    

    b)
      Current Certificate of Ownership issued by the competent authorities of the
      flag
      state of the Vessel.

    

    c)
      Confirmation of Class issued within 72 hours prior to delivery.

    

    d)
      Current Certificate issued by the competent authorities stating that the Vessel
      is free from registered encumbrances.

    

    e)
      Certificate of Deletion of the Vessel from the Vessel's registry or other
      official evidence of deletion appropriate to the Vessel's registry at the time
      of delivery, or, in the event that the registry does not as a matter of practice
      issue such documentation immediately, a written undertaking by the Sellers
      to
      effect deletion from the Vessel's registry forthwith and furnish a Certificate
      or other official evidence of deletion to the Buyers promptly and latest within
      4 

    (four)
      weeks after the Purchase Price has been paid and the Vessel has been
      delivered.

    

    f)
      Any
      such additional documents as may reasonably be required by the competent
      authorities for the purpose of registering the Vessel, provided the Buyers
      notify the Sellers of any such documents as soon as possible after the date
      of
      this Agreement.

    At
      the
      time of delivery the Buyers and Sellers shall sign and deliver to each other
      a
      Protocol of Delivery and Acceptance confirming the date and time of delivery
      of
      the Vessel from the Sellers to the Buyers.

    

    At
      the
      time of delivery the Sellers shall hand to the Buyers the classification
      certificate(s) as well as all Plans, manuals
      etc.,
as
      far as available
      which
      are on board the Vessel. Other certificates which are on board the Vessel shall
      also be handed over to the Buyers unless the Sellers are required to retain
      same, in which case the Buyers to have the right to take copies. Other technical
      documentation which may be in the Sellers' possession shall be promptly
      forwarded to the Buyers at their expense, if they so request. The Sellers may
      keep the Vessel's log books but the Buyers to have the right to take copies
      of
      same. 

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    9.
      Encumbrances 

    

    The
      Sellers warrant that the Vessel, at the time of delivery, is free from all
      charters, encumbrances, mortgages and maritime liens or any other debts
      whatsoever. The Sellers hereby undertake to indemnify the Buyers against all
      consequences of claims made against the Vessel which have been incurred prior
      to
      the time of delivery.

    

    10.
      Taxes, etc.

    

    Any
      taxes, fees and expenses in connection with the purchase and registration under
      the Buyers' flag shall be for the Buyers' account, whereas similar charges
      in
      connection with the closing of the Sellers' register shall be for the Sellers'
      account. 

    

    11.
      Condition on delivery 

    

    The
      Vessel with everything belonging to her shall be at the Sellers' risk and
      expense until she is delivered to the Buyers, but subject to the terms and
      conditions of this Agreement she shall be delivered and taken over as she was
      at
      the time of inspection, fair wear and tear excepted. However, the Vessel shall
      be delivered with her class maintained without condition/recommendation*, free
      of average damage affecting the Vessel's class, and with her classification
      certificates valid for 3
      6
      months
      and

    national
      certificates, as well as all other certificates the Vessel had at the time
      of
      inspection, valid and unextended without condition/recommendation* by Class
      or
      the relevant authorities at the time of delivery. 

    "Inspection"
      in this Clause 11, shall mean the Buyers' inspection according to Clause
4
      a)
      or
4
      b),
      if
      applicable, or the Buyers' inspection prior to the signing of this Agreement.
      If
      the Vessel is taken over without inspection, the date of this Agreement shall
      be
      the relevant date. 

    *
      Notes,
      if any, in the surveyor's report which are accepted by the Classification
      Society without condition/recommendation are not to be taken into
      account.

    

    12.
      Name/markings 

    

    Upon
      delivery the Buyers undertake to change the name of the Vessel and alter
      funnel markings.

    

    13.
      Buyers' default 

    

    Should
      the deposit not be paid in accordance with Clause
      2,
      the
      Sellers have the right to cancel this Agreement, and they shall be entitled
      to
      claim compensation for their losses and for all expenses incurred together
      with
      interest. 

    Should
      the Purchase Price not be paid in accordance with Clause
      3,
      the
      Sellers have the right to cancel the Agreement, in which case the deposit
      together with interest earned shall be released to the Sellers. If the deposit
      does not cover their loss, the Sellers shall be entitled to claim further
      compensation for their losses and for all expenses incurred together with
      interest. 

    

    14.
      Sellers' default 

    

    Should
      the Sellers fail to give Notice of Readiness in accordance with Clause
5
      a)
      or fail
      to be ready to validly complete a legal transfer by the date stipulated in
      line
      61
      the
      Buyers shall have the option of cancelling this Agreement provided always that
      the Sellers shall be granted a maximum of 3 banking days after Notice of
      Readiness has been given to make arrangements for the documentation set out
      in
Clause
      8.
      If
      after Notice of Readiness has been given but before the Buyers have taken
      delivery, the Vessel ceases to be physically ready for delivery and is not
      made
      physically ready again in every respect by the date stipulated in line
      61
      and new
      Notice of Readiness given, the Buyers shall retain their option to cancel.
      In
      the event that the Buyers elect to cancel this Agreement the deposit together
      with interest earned shall be released to them immediately. 

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    Should
      the Sellers fail to give Notice of Readiness by the date stipulated in
line
      61
      or fail
      to be ready to validly complete a legal transfer as aforesaid they shall make
      due compensation to the Buyers for their loss and for all expenses together
      with
      interest if their failure is due to proven negligence and whether or not the
      Buyers cancel this Agreement.

    

    15.
      Buyers' representatives

    

    After
      this Agreement has been signed by both parties and the deposit has been lodged,
      the Buyers have the right to place two representatives on board the Vessel
      at
      their sole risk and expense upon arrival
      at on or about 

    These
      representatives are on board for the purpose of familiarisation and in the
      capacity of observers only, and they shall not interfere in any respect with
      the
      operation of the Vessel. The Buyers' representatives shall sign the Sellers'
      letter of indemnity prior to their embarkation.

    

    Buyers
      to pay USD 10 per day per person for meals plus actual expenses for
      communication incurred or slop chest used. Said amount is to be paid at time
      of
      delivery together with the purchase price.

    

    16.
      Arbitration

    

    a)*
      This
      Agreement shall be governed by and construed in accordance with English law
      and
      any dispute arising out of this Agreement shall be referred to arbitration
      in
      London in accordance with the Arbitration Acts
      1950 and 1979 1996
      or any
      statutory modification or re-enactment thereof for the time being in force,
      one
      arbitrator being appointed by each party. On the receipt by one party of the
      nomination in writing of the other party's arbitrator, that party shall appoint
      their arbitrator within fourteen days, failing which the decision of the single
      arbitrator appointed shall apply. If two arbitrators properly appointed shall
      not agree they shall appoint an umpire whose decision shall be
      final.

    

    For
      disputes of less than USD 50,000 (fifty thousand) the LMAA Small Claims
      Procedure shall Apply.

    

    b)*
      This Agreement shall be governed by and construed in accordance with Title
      9 of
      the United
      States Code and the Law of the State of New York and should any dispute arise
      out of this Agreement, the matter in dispute shall be referred to three persons
      at New York, one to be
      appointed by each of the parties hereto, and the third by the two so chosen;
      their decision
      or that of any two of them shall be final, and for purpose of enforcing any
      award, this Agreement
      may be made a rule of the Court. 

    The
      proceedings shall be conducted in accordance with the rules of the Society
      of
      Maritime Arbitrators,
      Inc. New York.
      

    

    c)*
      Any dispute arising out of this Agreement shall be referred to arbitration
      at,
      subject
      to the procedures applicable there.

    The
      laws of shall govern this Agreement. 

    *
      16
      a), 16 b) and 16 c) are alternatives; delete whichever is not applicable. In
      the
      absence of deletions, alternative 16 a) to apply.

    

    17.    Charter

    Upon
      delivery to Buyers, the Vessel shall be delivered back into a time charter
      with
      Sellers, Messrs Sartfell Shipping Limited Ltd,
      for
      24 months plus upto 90 60
      days in Sellers’ option at a rate of USD 540,000 per calendar months/pro
      rata.

    

    18.

    

    The
      Sellers confirm that to the best of their knowledge the Vessel is not black
      listed by the Arab Boycott League or any other
      organization.

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    19.   Touch
      bottom

    

    The
      Sellers confirm that to the best of their knowledge the Vessel has not touched
      bottom since last Drydock.

    

    
      	
              20.

            	
              Originals

            

    

    

    This
      Memorandum of Agreement has been made out in two Originals, one for the Sellers
      and one for the Buyers.

     

     

    
      
        	
                Signed
                  by:

              	 	 
	 	 	 
	
                The
                  Sellers

              	 	
                The
                  Buyers

              
	
                Sartfell
                  Shipping Limited

              	 	
                Kew
                  Bridge Shipping
                  Limited

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00108-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00108-of-00352.parquet"}]]