Document:

/Berenberg
Bank Logo/

     

    
      
        	
                Confidential!

              	
                400
      years

              
	
                Suresh
      Capital Maritime Partners

              	
                Experience
      builds

              
	
                Germany
      GmbH

              	
                the
      future

              
	
                Garrelstraße
      14

              	 
      
	
                26789
      Leer

              	 
      

      

    

    

    
      
        	
                Stefan
      Bülau

              	
                Phone

              	
                +49
      40 350 60-743

              	
                13
      March 2007

              
	
                International
      Shipping

              	
                Fax

              	
                +49
      40 35 21 32

              	 
      
	
                Department

              	
                E-Mail

              	
                Stephan.Buelau@Berenberg.de

              	 
      

      

    

    

    Amendment
Agreement No. 1 to the Credit Facility dated 29 November 2006

    

    Dear
Sirs,

    

    We refer
to our general loan agreement dated 29 November 2006 and are pleased to provide
this Amendment Agreement No. 1 based on our General Business
Conditions.

    

    This
Amendment Agreement No. 1 is made the 13th day of March 2007 and
between

    

    
      	
               
      

            	
              1)

            	
              Suresh
      Capital Maritime Partners Germany GmbH as borrower (the
      “Borrower”);

            

    

     

    
      	
               
      

            	
              2)

            	
              III
      to I Maritime Partners Cayman I, LP as pledgor (the “Pledgor”)
      and

            

    

     

    
      	
               
      

            	
              3)

            	
              Joh.
      Berenberg, Gossler & Co. KG as lender (the
  “Lender”)

            

    

    

    WHEREAS:

    

    By loan
agreement dated 29 November 2006 (“Loan Agreement”) made between
the Lender and the Borrower and acknowledged by the Pledgor, the Lender agreed
to make available to the Borrower a loan facility in the amount of up to EUR
26,400,000.00 as a partial pre-delivery financing of four (4) Anchor Handling
Tugs.

    

    Neuer
Jungfernstieg 20 - 20354 Hamburg (Germany)

    Phone +49
40 350 60-0 - Fax +49 40 35 21 32  - info@berenberg.de – Telex
215 781

    Head
office:  Hamburg Amßgericht Hamburg HRH 42659

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    /Berenberg
Bank Logo/

    

    
      
        	
                Amendment
      Agreement No. 1

              	
                Page
      2

                13
      March 2007

              

      

    

     

    IT
IS HEREBY AGREED AS FOLLOWS:

     

    
      	
              1.

            	
              DEFINITIONS

            

    

     

    Capitalized
terms not defined herein shall have the same meaning as defined in the
Loan
Agreement.

     

    
      	
              2.

            	
              AMENDMENTS

            

    

     

    2.1          The
following Clauses and/or Sub clauses shall be amended as defined
hereafter:

     

    
      	
              2.1.1

            	
              Credit
      Amount

            

    

     

    
      	
               
      

            	
              Up
      to the maximum of EUR 37,300,000.00 (written in full:  Euros
      thirty seven million three hundred thousand 0/100) including all accrued
      interest during the lifetime of the
loan.

            

    

     

    
      	
              2.1.2

            	
              Purpose

            

    

     

    
      	
               
      

            	
              Partial
      pre-delivery financing of six (6) Anchor Handling Tugs (each a
      “Vessel”).

            

    

     

    
      	
              2.1.3

            	
              Terms
      – Sub Clause II

            

    

     

    
      	
               
      

            	
              We
      will keep those Tranches available to you until the date of the delivery
      of the relevant Anchor Handling Tug but in no case longer than up to 31
      December 2009.  At the end of the term all outstanding principal
      plus accrued interest and costs shall be immediately due for
      repayment.

            

    

     

    
      	
              2.2

            	
              All
      other Clauses of the Loan Agreement shall remain
  unchanged.

            

    

     

    
      	
              3.

            	
              The
      Borrower will pay the Lender an amendment fee in the amount of EUR
      7,500.00 prior to this Agreement coming into effect.  The
      Borrower instructs the Lender to debit the amendment fee to its account
      no. 00-52751-005 maintained with the
  Lender.

            

    

     

    
      	
              4.

            	
              The
      Borrower undertakes to assure that the renewed Pledge Agreement dated 13
      March 2007, duly signed on behalf of the Pledgor will be delivered to the
      Lender prior to this Agreement coming into
  effect.

            

    

     

    
      
        	
                Yours
      faithfully

              
	 
      	 
      
	
                Joh.
      Berenberg, Gossler & Co. KG

              
	 
      	 
      
	
                /S/

              	
                /S/

              
	
                (Speer)

              	
                (Lafrenz)

              

      

    

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    /Berenberg
Bank Logo/

    

    
      
        	
                Amendment
      Agreement No. 1

              	
                Page
      3

                13
      March 2007

              

      

    

     

    Accepted:

     

    
      
        
          	
                  Place/date

                	 
      	
                  (Suresh
      Capital Maritime Partners Germany GmbH)

                
	
                  LA
      /3/13/07

                	
                    

                	
                  /S/

                

        

      

    

     

    Acknowledgement:

     

    We, the
Pledgor, acknowledge and agree by signature the contents of this Amendment
Agreement and confirm having received one copy of it for our files.

     

    
      
        
          
            	
                    Place/date

                  	 	
                    (III
      to I Maritime Partners Cayman I, LP)

                  
	
                    Dallas,
      TX, 14, March 2007

                  	 	
                    /S//Berenberg
Bank Logo/

    

    
      
        	
                Confidential!

              	
                400
      years

              
	
                Suresh
      Capital Maritime Partners

              	
                Experience
      builds

              
	
                Germany
      GmbH

              	
                the
      future

              
	
                Garrelstraße
      14

              	 
      
	
                26789
      Leer

              	 
      

      

    

    

    
      
        	
                Stefan
      Bülau

              	
                Phone

              	
                +49
      40 350 60-743

              	
                04
      May 2007

              
	
                International
      Shipping

              	
                Fax

              	
                +49
      40 35 21 32

              	 
      
	
                Department

              	
                E-Mail

              	
                Stephan.Buelau@Berenberg.de

              	 
      

      

    

    

    Amendment
Agreement No. 2 to the Credit Facility dated 29 November 2006

    and
the Amendment Agreement No. 1 dated 13 March 2007

    

    Dear
Sirs,

    

    We refer
to our general loan agreement dated 29 November 2006 and the Amendment Agreement
No. 1 dated 13 March 2007 and are pleased to provide this Amendment Agreement
No. 2 based on our General Business Conditions.

    

    This
Amendment Agreement No. 2 is made the 04th day of May 2007 and
between

    

    
      
        	
              	
                1) 

              	
                Suresh
      Capital Maritime Partners Germany GmbH as borrower (the
      “Borrower”);

              

      

    

     

    
      	
            	
              
                2) 

              

            	
              
                III
      to I Maritime Partners Cayman I, LP as pledgor (the “Pledgor”)
      and

              

            

    

     

    
      	
            	
              
                3) 

              

            	
              
                Joh.
      Berenberg, Gossler & Co. KG as lender (the
    “Lender”)

              

            

    

    

    Neuer
Jungfernstieg 20 - 20354 Hamburg (Germany)

    Phone +49
40 350 60-0 - Fax +49 40 35 21 32  - info@berenberg.de – Telex
215 781

    Head
office:  Hamburg Amßgericht Hamburg HRH 42659

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    

    /Berenberg
Bank Logo/

    

    
      
        	
                Amendment
      Agreement No. 2

              	
                Page
      2

                04
      May 2007

              

      

    

    

    WHEREAS:

    

    By loan
agreement dated 29 November 2006 and the Amendment Agreement No. 1 (together the
“Loan Agreement”) made
between the Lender and the Borrower and acknowledged by the Pledgor, the Lender
agreed to make available to the Borrower a loan facility in the amount of up to
EUR 37,300,000.00 as a partial pre-delivery financing of four (6) Anchor
Handling Tugs.

    

    IT
IS HEREBY AGREED AS FOLLOWS:

     

    
      	
              1.

            	
              DEFINITIONS

            

    

     

    Capitalized
terms not defined herein shall have the same meaning as defined in the
Loan
Agreement.

    

    
      	
              2.

            	
              AMENDMENTS

            

    

     

    
      	
              2.1

            	
              The
      following Clauses and/or Sub clauses shall be amended as
      follows:

            

    

     

    
      	
              2.1.1

            	
              Credit
      Amount

            

    

    
      	
               
      

            	
              Up
      to the maximum of EUR 50,300,000.00 (written in full:  Euros
      fifty million three hundred thousand 0/100) including all accrued interest
      during the lifetime of the loan.

            

    

     

    
      	
              2.1.2

            	
              Purpose

            

    

     

    Partial
pre-delivery financing of twelve (12) Anchor Handling Tugs (each a
“Vessel”).  Furthermore the financing of so called soft costs up to
the amount of EUR 750,000.00 (written in full: Euros seven hundred fifty
thousand 0/100) per Vessel.

     

    
      	
              2.1.3

            	
              Terms
      – Sub Clause II

            

    

    We will
keep those Tranches available to you until the date of the delivery of the
relevant Anchor Handling Tug but in no case longer than up to 30 September
2010.  At the end of the term all outstanding principal plus accrued
interest and costs shall be immediately due for repayment.

     

    
      	
              2.2

            	
              All
      other Clauses of the Loan Agreement shall remain
  unchanged.

            

    

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    

    /Berenberg
Bank Logo/

    

    
      	
              Amendment
      Agreement No. 2

            	
              Page
      3

              04
      May 2007

            

    

    

    
      	
              3.

            	
              This
      Agreement shall enter into effect
upon

            

    

     

    
      	
              3.1

            	
              payment
      by the Borrower of an amendment fee in the amount of EUR 15,000.00 . The
      Borrower instructs the Lender to debit such amendment fee to its account
      no. 00-52751-005 maintained with the Lender;
and

            

    

     

    
      	
              3.2

            	
              amendment
      of the Pledge Agreement dated 04 May 2007, duly signed on behalf of the
      Pledgor, according to which the repayment of the increased credit amount
      is secured by the pledge of accounts.
..

            

    

     

    
      
        	
                Yours
      faithfully

              
	 
      
	
                Joh.
      Berenberg, Gossler & Co. KG

              
	 
      	 
      
	
                /S/

              	
                /S/

              
	
                (Speer)

              	
                (Schultheis)

              

      

    

     

    Accepted:

     

    
      
        	
                Place/date

              	 	
                (Suresh
      Capital Maritime Partners Germany GmbH)

              
	
                5/4/07

              	 	
                /S/

              

      

    

     

    Acknowledgement:

     

    We, the
Pledgor, acknowledge and agree by signature with the contents of
this Amendment Agreement and confirm having received one copy of it for our
files.

     

    
      
        	
                Place/date

              	 	
                (III
      to I Maritime Partners Cayman I, LP)

              
	
                5/4/07

              	 	
                /S/

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