Document:

Crewmen
Assignment Agreement

    (“Xiechang
18”)

    

    (Unofficial
Translation)

    

    
      	
              Party
      A:

            	
              Zhonghai
      Engineering Construction General
Bureau

            

    

    Dalian
Engineering Constructioin Bureau

    
      	
              Address:

            	
              No.
      60-5 Dayang Avenue, Zhongshan District,
Dalian

            

    

    Legal
Representative: CHENG Shaowen

    

    
      	
              Party
      B:

            	
              Fujian
      Xing Gang Port Service Co., Ltd.

            

    

    
      	
              Address:

            	
              17th
      Floor, Building A, Zhongshan Plaza, 154 Hudong Road,
  Fuzhou

            

    

    Legal
Representative: LIN Qing

    

    Party A and Party B, after friendly
consultation based on the principles of equality and mutual benefit and on the
basis of the “Ship Leasing Contract” executed by the two parties, have reached
the agreement regarding the matter of Party A assigning crewmen during the term
of Party B’s lease of dredging engineering boat “Xiechang 18” from Party A as
follows:

    

    Article
I        Generals

    

    1.           The
term “assigned crewmen” used herein means those crewmen who are assigned by
Party A, pursuant to the provisions of the “Ship Leasing Contract” executed by
the two parties and the provisions of herein, to work at relevant posts on
“Xiechang 18”; see the attached list for crewmen assignment
details.

    

    2.           Party
B must pay to Party A the crewmen assignment fee in accordance with the
provisions of the “Ship Leasing Contract” executed by the two parties. The said
crewmen assignment fee includes salaries that Party A should pay to the crewmen
working “Xiechang 18” and 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).

    

    3.           Term
of the agreement: The effective period of this agreement corresponds to and is
the same as the term of the lease specified in the “Ship Leasing Contract”
executed by the two parties.

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    Article
II        Party A’s Rights and
Obligations

    

    1.           Party
A has the right to receive the crewmen assignment fee in accordance with the
provisions of the “Ship Leasing Contract” executed by the two
parties.

    

    2.           Assign
crewmen for the ship pursuant to the provisions herein; educate the crewmen on
the compliance with the State laws, statutes and regulations; educate the
assigned 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.

    

    3.           Ensure
that the assigned 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.           Party
B must notify Party A in writing, three business days in advance, of the
boarding time and boarding location for the crewmen assigned by Party
A.  Party A must ensure that all the assigned 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 assigned crewmen can be aboard, Party B must still pay the same
amount of crewmen assignment fee to Party A pursuant to the provisions
herein.

    

    5.           After
the assigned crewmen have passed assessment and been placed on duty by Party B,
Party A shall not replace them at will.  Party A must ensure that
Party B has the absolute leadership authority over the assigned
crewmen.  During the term of the agreement, the assigned crewmen must
follow the operation arrangement from Party B’s safety and shipping service
scheduling department.

    

    6.           Party
A will pay salaries and bonuses to the assigned crewmen and 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.  Party A shall not
make such payments late.

    

    7.           If
Party B requests Party A to replace certain assigned crewmen pursuant to the
provisions herein, Party A must replace them promptly so as not to affect Party
B’s normal operation.

    

    8.           In
the event of the occurrence of any accident causing injury to the assigned
crewmen, Party A must, after receiving notification from Party B, handle such
accident properly in accordance with the provisions of relevant insurance and be
responsible for submitting report and insurance claims.

    

    9.           If
there a change in the Party A’s bank account number, Party A must notify Party B
in writing two business days in advance.

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    Article
III        Party B’s Rights and
Obligations

    

    1.           Party
B has the right to conduct assessment on the crewmen assigned by Party
A.  If the assigned 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 assigned crewmen’s lack of
qualifications or skills causes any loss to Party B.

    

    2.           Party
B has the right to require the assigned 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.

    

    3.           If
the assigned crewmen engage in any of the following during the term of the ship
lease, Party B has the right, upon Party A’s acknowledgement, to demand Party A
to recall them 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;

    

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

    

    5.           Party
B must manage the assigned crewmen in such areas as their posts’ duties and
responsibilities and labor discipline and provide them with relevant
training;

    

    6.           Party
B must provide to the assigned crewmen working environment, labor conditions and
labor protection that are in compliance with the provisions of the State’s
“Labor Law”;

    

    7.           Party
B must pay the crewmen assignment fee in accordance with the provisions of the
“Ship Leasing Contract”.

    

    8.           Party
B must pay to Party A the corresponding expenses for those assigned 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 law;

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    9.           Party
B must 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;

    

    10.         Party
B must 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 and fax
number;

    

    11.         Party
B must arrange work posts for the assigned crewmen in accordance with the
provisions herein, consult with Party A if there is need for any change and bear
all consequences resulting from changing the posts of the assigned crewmen
without prior consultation with Party A.

    

    Article
IV        Dispute and
Arbitration

    Any dispute arising from performance
of, or in connection with, this agreement must be settled through consultation;
if such consultation fails, either party may submit the dispute to the
jurisdiction of the people’s court at Party B’s location.

    

    Article
V        Others

    

    1.           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.

    

    2.           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.

    

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

    

    4.           This
agreement is an attachment to the “Ship Leasing Contract” executed by the two
parties and shall become effective at the same time when the “Ship Leasing
Contract” takes effect.

    

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

    

    
      	
              Party
      A:

            	
              /seal/
      Zhonghai Engineering Construction General
Bureau

            

    

    Dalian
Engineering Construction Bureau

    
      	
              Legal
      Representative:

            	
              /s/
      QIU Shandao

            

    

    

    
      	
              Party
      B:

            	
              /seal/
      Fujian Xing Gang Port Service Co.,
Ltd.

            

    

    Legal
Representative: /s/ LIN Qing

    

    Date:   June
24, 2010

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    

    Attachment:
List of Assigned Crewmen

    
      
        	
                Post

              	 
      	
                Number

              
	
                Captain

              	 
      	
                1

              
	
                First
      Mate

              	 
      	
                1

              
	
                Chief
      Engineer

              	 
      	
                1

              
	
                Second
      Mate

              	 
      	
                1

              
	
                Second
      Engineer

              	 
      	
                1

              
	
                Third
      Engineer

              	 
      	
                1

              
	
                Fourth
      Engineer

              	 
      	
                1

              
	
                Third
      Mate

              	 
      	
                1

              
	
                Seamen
      Chief

              	 
      	
                1

              
	
                Long
      Mechanic

              	 
      	
                1

              
	
                Mechanic

              	 
      	
                10

              
	
                Seaman

              	 
      	
                9

              
	
                Cook

              	 
      	
                1

              
	
                Total

              	 
      	
                30Office
Lease Agreement

    

    (Unofficial
Translation)

    

    Lessor:                 LIN
Ping

    

    Lessee:                 Fujian
Xing Gang Shipping Service Co., Ltd.

    

    Pursuant
to the Contract Law of the People’s Republic of China as well as the related
laws and regulations, and intended to define the rights and obligations of both
Lessor and Lessee, this agreement is hereby reached through friendly
consultations and must be complied by both parties.

    

    Article
1

    The
Lessee agrees to lease an office space for commercial use from the Lessor, who
ensures the legal ownership of the space – with the construction area of 101
square meters (hereafter designated as “Premises”), and located on the 18th floor
of Building A, Zhongshan Plaza, 154 Hudong Road, Gulou District, Fuzhou City,
Fujian Province.  The Lessee may use the interior appurtenances and
equipment in the Premises free of charge.

    

    Article
2

    Term of Lease: beginning on January 1,
2008 and ending on December 31, 2009.

    

    Article
3

    Upon the
Lessor’s consent, the Lessee may sublet the Premises to a third party. When
subletting is permitted by the Lessor, all terms of this lease shall remain in
full force and the Lessee shall remain liable for the performance of all of the
terms of this lease.

    

    Article
4

    The Lessor shall have the right to
terminate the lease when one of the followingoccurs:

    

    
      	
               
      

            	
              1.

            	
              In
      the event the Lessee assigns, transfers, or subleases the Premises without
      the prior consent of the Lessor;

            

    

    

    
      	
               
      

            	
              2.

            	
              In
      the event the Lessee uses and occupies the Premises for the purpose of
      unlawful activities or business that may do harm to the Lessor’s or
      societal/public interests.

            

    

    

    
      	
               
      

            	
              3.

            	
              In
      the event the Lessee fails to pay the monthly rent for more than fifteen
      (15) days from the due date as required in this
  lease.

            

    

    
      
         

      

      
        1

        
          

        

      

      
         

      

    

    Article
5

    Upon the
expiration of the term of the lease, under like conditions, the Lessee shall
have the first right of refusal to renew the lease. In the event the Lessee does
not desire to renew the lease upon its expiration, the Lessee shall surrender
the Premises to the Lessor on the termination date of this lease.  Should
the Lessee fail to do so, the Lessee bears all the resulting costs, expenses and
fees that affect the Lessor.

     

    Article
6

    Both
parties agree that the currency of rent payments is Renminbi (RMB), and that the
rent shall be RMB fifty (¥50) per square meter per month, or RMB five thousand
and fifty (¥5050) per month. The full payment of the rent for each succeeding
year must be transferred in one lump sum to a bank account designated by the
Lessor before the end of January of each year during the term
hereof.

     

    Article
7

    During
the term of the lease, in the event damages to the Premises are caused by the
Lessee, the Lessee shall assume full responsibility for all the damages and
repairs at its sole cost and expense.

     

    As for
structural or otherwise problems of the Premises itself not occasioned by the
Lessee, the Lessor shall, at its expense, make all repairs and replacements
necessary to the Premises. 

     

    In the
event there are repairs needed to be made to the Premises, the Lessee may
require the Lessor to complete all repairs within a reasonable period of time.
 Should the Lessor fail to do so, the Lessee may do so at its option, the
cost and expense thereof  from the Lessor.    

     

    Article
8

    During
the term of the lease, the Lessor is responsible for the expenses and fees of
the Lessee’s use of water, electricity, property management, telephones and
internet cable connections on the Premises.

     

    Article
9

    The
Lessor shall deliver possession of the Premises to the Lessee before the
commencement of the lease term.  Should the Lessor fail to do so, a delay
of longer than fifteen (15) days in the handover shall be subject to a penalty
of RMB two thousand (¥2000) payable to the Lessee.  In the event the Lessee
fails to pay the rent for a period longer than fifteen (15) days from the due
date required under Article 6 herein, the Lessor shall have the right to
terminate the lease in addition to the right to assess a penalty of RMB two
thousand (¥2000) from the Lessee.

    
      
         

      

      
        2

        
          

        

      

      
         

      

    

    Article
10

    During
the term of the lease, neither party shall be liable for any damage or
destruction of the Premises or for any loss of the Lessee caused by Force
Majeure.

    

    Article
11

    During
the term of the lease, where any dispute arises in connection with this
agreement, both parties
shall attempt in the first instance to resolve it through friendly
consultations. If the dispute cannot be resolved in this manner, both parties
agree that the People’s Court at the Lessor’s location shall be the ruling
authority to judge for the dispute.

    

    Article
12

    Upon the
expiration of this lease, if the Lessor does not desire to continue the lease,
the Lessee shall surrender the Premises, with any fixtures, appurtenances or
equipment provided by the Lessor in good working order and condition, to the
Lessor.

    

    Article
13

    Any
matters not defined herein shall be settled by supplementary agreements which
are to be reached through negotiations between both parties, in accordance with
the provisions of the Contract Law of the People’s Republic of
China.  Both supplementary agreements and this agreement have the same
legal effects.

    

    Article
14

    The
addendums of this lease, as the integral parts of the agreement, have the same
legal effects.

    

    Article
15

    This
lease becomes effective after both parties affix their respective signature or
seal hereto.  This agreement is executed in two originals, and each
party shall retain one original copy.

    

    Lessor:
LIN Ping (signature)

    Legal
Representative:

    Date:
January 1, 2008

    

    Lessee:
Fujian Xing Gang Shipping Service Co., Ltd. (seal)

    Legal
Representative: LIN Qing (signature)

    Date:
January 1, 2008

    
      
         

      

      
        3

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