Document:

EX-10.41

 Exhibit 10.41 
  

 
 MEMORANDUM OF AGREEMENT 
Dated:
12th June 2015 Norwegian Shipbrokers’ 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. 
Newcontainer No.55 (Marshall Islands) Shipping Inc. 
Trust Company
Complex, Ajeltake Road, Ajeltake Island, Majuro, Marshall Islands MH96960 
hereinafter called the Sellers, have agreed to sell, and Orion Marine LLC, of Marshall
Islands hereinafter called the Buyers, have agreed to buy Name: OOCL Hamburg Classification Society/Class: ABS Built: 2004 By: SAMSUNG HEAVY INDUSTRIES CO., LTD., S. Korea Flag: Hong Kong Place of Registration: Hong Kong Call Sign: VRZK9 Grt/Nrt:
89097/55204 Register Number: IMO number 9252008 hereinafter called the Vessel, on the following terms and conditions: Definitions “Banking days” are defined as days on which banks are open both in London/Athens/Paris/New York/Hong Kong 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 : US$ 53,600,000 (Fifty Three Million Six Hundred
Thousand United States Dollars) 2. Deposit – Subject to Clause 25 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) banking days from
the date of this Agreement being signed by both parties by fax or lifting of all subjects, or the date upon which 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 

 

 
 the joint account is opened, whichever is the latest. This deposit shall be placed with an international first class
bank nominated by the Sellers and held by them in a joint interest bearing 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 and any closing meeting fees shall be borne equally by the Sellers and the Buyers. 3. Payment The said ninety (90) percent balance of Purchase Price in full and any other agreed money due in
accordance with this Agreement, will be remitted by the Buyers or Buyers’ financiers by Swift Message 103/199 directly to Sellers’ nominated international first class bank with value date not later than two (2) banking days prior to
the expected date of delivery of the Vessel. This ninety (90) percent balance of Purchase Price and any other agreed money shall be paid/released in full free of bank charges to the Sellers’ account with Sellers’ international first
class bank on delivery of the Vessel simultaneously against the Protocol of Delivery and Acceptance duly signed by both Sellers’ and Buyers’ authorized representatives after the Vessel is every respect physically ready for delivery as per
this Agreement and a written Notice of Readiness has been given in accordance with 5(a) of this Agreement. shall be paid in full free of bank charges to 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 See also Clause 17a The agreement is outright and definite subject
to terms of the MOA. a)* The Buyers have inspected and accepted the Vessel’s classification records. The Buyers have also inspected the Vessel at/in Southampton on about 8/9th September 2011 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
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 for examination 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, 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 

 

 
 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 - See also Clause 23 a) The Sellers shall keep the
Buyers well informed of the Vessel’s itinerary and shall provide the Buyers with 30, 20, 10, 5, and 3 days notice of the approximate estimated and 1 day definite notice time of Vessel’s readiness for delivery and the 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 and only at the time when the Vessel became ready for delivery in all respects. b) The Vessel shall be delivered and taken over safely afloat at a safe and accessible berth alongside or safe and accessible anchorage within
port limits at/in in the Sellers’ option. Expected time of delivery: 15th September 2015 and not later than 30th November 2015 and is always at Sellers option. Date of cancelling (see Clauses 5 c), 6 b) (iii) and 14): 30th November
2015 in Buyers option. 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 44 45 46 47 48 49 50 51 52 53 54 55 56 57 58 59 60 61 62 63 64 65 66 67 68 69 70 71 72 73 74 75 

 

 
 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 – See Clause 17 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 76 77 78 79 80 81 82 83 84 85 86 87 88 89 90 91 92 93 94 95 96 97 98 99 100 101 102 103 104 105 106 107 108 109 110 111 112 113

 

 
 drydocking and extra steaming, but limited to a maximum of 14 running 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 114 115 116 117 118 119 120 121 122 123 124 125 126 127 128 129 130 131 132 133 134 135 136 137 138 139 140 141 142 143 144 145 146 147 148 149 150 

 

 
 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. – See Clause 18 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. 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): The Buyers shall take over the remaining bunkers and unused lubricating oils in storage tanks and sealed drums and pay the current
net market price (excluding barging expenses) 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:
Hong Kong at Sellers office In exchange for payment of the Purchase Price the Sellers shall furnish the Buyers with delivery documents, namely: that are reasonably required by the Buyers for the legal transfer of the Vessel and for her registration
under the new ownership. The list of documents to be furnished by the Sellers to the Buyers which shall be mutually agreed and the said list shall be incorporated into this Agreement by way of an Addendum. a) Legal Bill of Sale in a form recordable
in (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. 151 152 153 154 155 156 157 158
159 160 161 162 163 164 165 166 167 168 169 170 171 172 173 174 175 176 177 178 179 180 181 182 183 184 185 

 

 
 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 original classification certificate(s), International certificates(s) as well as allplans manuals, drawing, records etc., which
are on board the Vessel or ashore. Other certificates which are on board the Vessel shall alsobe 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 shall deliver warrant that the Vessel, at the time of delivery, is free from all taxes charters, encumbrances, mortgages and maritime liens or any other debts whatsoever to the Buyers. The Sellers hereby undertake to
indemnify the Buyers against all consequences of claims arising out of liabilities made against the Vessel which have been incurred by the Sellers 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 with the Hong Kong Shipping Registry shall be for the Sellers’
account. 186 187 188 189 190 191 192 193 194 195 196 197 198 199 200 201 202 203 204 205 206 207 208 209 210 211 212 213 214 215 

 

 
 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 in substantially the same condition as she was at the date of the MOA basis ‘strictly as is where is
’fair wear and tear excepted. However, But in any event, the Vessel shall be delivered with her present class maintained without Condition*, free of average damage affecting the Vessel’s class, and with her classification certificates and
national and international certificates, as well as all other certificates the Vessel had at the date of MOA, valid and unextended without condition*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 – See also Clause 23 Upon delivery of the
Vessel by the Seller to the Buyers pursuant to this agreement, the Buyers undertake to change the name of the Vessel and alter funnel markings unless otherwise required by the Seller pursuant to the Charter. (In case of name change, Sellers to
advise timely for preparation of documents). 13. Buyers’ default Should the deposit not be paid in accordance with Clause 2, of this Agreement, the Sellers have the right to cancel this Agreement, and they Seller 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, of this Agreement, the Sellers have the right to cancel the Agreement, in which case the deposit
together with interest earned (if any) 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 216 217 218 219 220 221 222 223
224 225 226 227 228 229 230 231 232 233 234 235 236 237 238 239 240 241 242 

 

 
 the option of cancelling this Agreement provided always that the Sellers shall be granted a 243 
maximum of 3 banking days after Notice of Readiness has been given to make arrangements 244

for the documentation set out in Clause 8. If after Notice of Readiness has been given but before 245 
the Buyers have taken delivery, the Vessel ceases to be physically ready for delivery and is not 246 
made physically ready again in every respect by the date stipulated in line 61 and new Notice of 247 
Readiness given, the Buyers shall retain their option to cancel. In the event that the Buyers elect 248 
to cancel this Agreement the deposit together with interest earned shall be released to them 249

immediately and this Agreement shall be null and void. 250 
Should the Sellers
fail to give Notice of Readiness by the date stipulated in line 61 or fail to be ready 251 
to validly complete a legal transfer as aforesaid they shall make due
compensation to the Buyers for 252 
their loss and for all expenses together with interest if their failure is due to proven 253 
negligence and whether or not the Buyers cancel this Agreement. 254 
15. Buyers’
representatives 255 
After this Agreement has been signed by both parties and the deposit has been lodged, in 256 
accordance with Clause 2 of this agreement the Buyer shave the right to place two representatives on board the Vessel at their sole risk and expense at 257 
her next or any subsequent port of call upon arrival at on or about 258 
These representatives
are on board for the purpose of familiarization and in the capacity of 259 
observers only and they shall not interfere in any respect with the operation of the
Vessel. All equipment/machinery parts open-up inspection is not allowed. The 260 
Buyers’ representatives shall sign the Sellers’ letter of indemnity
prior to their embarkation. 261 
16. Arbitration 262 
a)* This Agreement shall
be governed by and construed in accordance with English law and 263 
any dispute arising out of this Agreement shall be referred to arbitration in London in 264

accordance with the Arbitration Acts 1950 and 1979 or any statutory modification or 265 
re-enactment thereof for the time being in force, one arbitrator being appointed by each 266

party. On the receipt by one party of the nomination in writing of the other party’s arbitrator, 267 
that party shall appoint their arbitrator within fourteen days, failing which the decision of the 268 
single arbitrator appointed shall apply. If two arbitrators properly appointed shall not agree 269 
they shall appoint an umpire whose decision shall be final. 270 
b)* This Agreement shall be
governed by and construed in accordance with Title 9 of the 271 
United States Code and the Law of the State of New York and should any dispute arise out of 272

this Agreement, the matter in dispute shall be referred to three persons at New York, one to 273 
be appointed by each of the parties hereto, and the third by the two so chosen; their 274

decision or that of any two of them shall be final, and for purpose of enforcing any award, this 275 
Agreement may be made a rule of the Court. 276 
The proceedings shall be conducted in
accordance with the rules of the Society of Maritime 277 
Arbitrators, Inc. New York. 278 
c)* Any dispute arising out of this Agreement shall be referred to arbitration at 279 

 

 
 , subject to the procedures applicable there. 280 
The laws of shall govern this Agreement. 281 
* 16 a), 16 b) and 16 c) are alternatives; delete
whichever is not applicable. In the absence of 282 
deletions, alternative 16 a) to apply. 283 
ADDITIONAL CLAUSES TO M.V. OOCL Hamburg 
Clause 17 Drydocking / Divers Inspection 
(I) The Vessel is to be delivered without dry-docking. However, the Buyers shall have the option at their expense to arrange for an underwater inspection in one of the ports
(within the Vessels’ schedule) by a diver approved by the Classification Society prior to the delivery of the Vessel always without interference with the Vessel’s operation/schedule. 
The extent of the inspection and the conditions under which it is performed shall be to the satisfaction of the Classification Society. 
Sellers to provide a Letter of Undertaking whereby Sellers to confirm that, to the best of their knowledge, the Vessel has not grounded or touched bottom between the place of
diving inspection and the place of delivery. Buyers’ superintendent to have the right to attend underwater inspection. Sellers to require the Class to attend such underwater inspection. 
Cost for diver(s) and class to be for Buyers’ account but Sellers to arrange for the attendance of class. Unless damages are found to affect the Vessel’s Class, in which
case both divers and surveyor are for Sellers’ account. 
(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, and Classification Society approves to postpone such repairs/rectification of recommendations/conditions until the next periodical drydocking, then the Vessel to be delivered
without drydocking and repairs always providing such damage does not affect the Vessel’s normal operational performance. The Sellers to make a cash settlement to the Buyers for such repairs/rectification which is to be calculated on the basis
of the average quotation received from two reputable shipyards, one obtained by each party. Said compensation to be deducted from the Purchase Price at the time of delivery. However, if such damage affect the Vessel’s Class and
repairs/rectification of recommendation/conditions cannot be postponed by Classification Society until the next periodical drydocking, 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 for the cost of the 

 
underwater inspection and the Classification Society’s attendance. 
  

	(III)	 If the Vessel is to be drydocked pursuant to this Clause and no suitable drydocking facilities are available at the port of underwater inspection
or 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). The Buyers shall then have the right to paint the Vessel in drydock and
attend seavalves and seachests and carry out any other works connected to outside bottom for their own account and risk, provided same not interfering with the Sellers preparation for delivery. Buyers works have to be finished up to delivery of the
Vessel or, if not, the delivery of the Vessel can be done in drydock but Sellers to remain responsible for undocking costs. 
	 

 Once drydocking has taken place the Sellers shall deliver the Vessel
at a port within 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. Sellers shall undertake timely delivery of the vessel by doing their utmost to ensure any drydocking period is minimized. 

* 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 
 Clause 17a 

At Buyers request and subject to no disruption of operation of
the Vessel, Seller shall arrange a time to be mutually agreed with Buyers for Buyers to inspect and view the Vessel’s records. 

Clause 18 Spares/Bunker/Luboils 

The Sellers shall deliver the Vessel to the Buyers with everything belonging to her at the date of MOA except
those consumed for maintenance and repair work in the period between date of MOA and date of delivery of the Vessel) whether on board or on order at no extra cost to the Buyers, including broached and un-broached stores, provisions, spare parts
owned by Sellers. 
 The Sellers are not required to replace spare parts 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. 

Excluded from the sale are leased or hired items presently onboard, master’s, officers’ and
crews’ personal belongings. 
 All ship plans and drawings and other documents on board or ashore are
included in the sale and must be handed over to the Buyers at the time of delivery. 
 The Sellers are not
to remove from the Vessel any maintenance records for machineries and deck equipment unless same replaced by photocopies. Upon termination of the Crew Management, the Sellers shall remove from the Vessel the maintenance records for the period from
the Vessel’s built date to the date of delivery of the Vessel to the Buyers. However Sellers to give copies to Buyers of the total working hours and working hours since last overhauling of the main engine and auxiliary machinery. 

 Lubricating oils quantities survey to be mutually performed by
the Sellers and the Buyers’ representatives at the time of delivery. 
 The Buyers will also pay extra
for unused lubricating oils at the Seller’s last net contract prices of each supply (first in/first out), net of any discounts, which to be evidenced by invoices. The payment for luboils shall be deducted from 2nd hire payment of the Vessel payable by OOCLL to the Buyers. Unused lubricating oils are defined as lubricating oils in designated storage tanks that have not previously passed through the
Vessel’s system and/or unopened drums. 
 Bunkers remaining on board at the time of delivery are
Charterers’ property and to be recorded for reference only. 
 Any equipment on board the Vessel which
belongs to any third parties are including, “Hong Kong observatory barograph” and “spare parts for maintenance and repair of Reefer Cargo Containers provided by partner line (ie member lines of Grand Alliance and G6) and/or
Sub-charterers” and those items (To be advised) as below shall be excluded from the sale of the Vessel under this Agreement. 

Items to remain on board: 
  

	 	-	 Cargo loading program, C.D., Instructions manual and approval certificate of loading program and loading instrument (loading computer) 
	 

	 	-	 Originals of all Continuous Synopsis Record 
	 

	 	-	 Bunker delivery receipts for last two years and bunker samples for one year (as per Marpol requirement) 
	 

	 	-	 All existing computer/I.T. hardware including those for cargo operation, navigation and controlling of the Vessel, and printers will remain on
board 
	 

	 	-	 Photocopier will remain on board 
	 

	 	-	 PMS (Planned Maintenance System by Pentatech (ex O-Yang) remain on board up to 90 days after vessel delivery 
	 

	 	-	 All ACETYLENE, OXYGEN and FREON gas bottles remain on board up to 30 days after vessel delivery unless their contracts to be taken over by the
Buyer. 
	 

	 	-	 Oil record book for last 3 years, Garbage record book for last 2 years and PSC reports for last 2 years (as per Marpol/PSC requirement) 
	 

 The off-landing items include: 

 

	 	A.	 Any computer/I.T. software which is proprietary to members of OOCL Group including OOCL program such as Xantic Email System (Amosconnect email
system), OOCL forms, licensed softwares such as Microsoft Operating system and Windows Office applications. 
	 

	 	B.	 All OOCL documents, including those with OOCL logo printed. 
	 

	 	C.	 Ship’s official stamps, full set of Crew Articles (Agreement and Lists of the Crew), official Log Book and Radio/GMDSS Log Books. 
	 

	 	D.	 OOCL House flags 
	 

	 	E.	 All safety, quality and environmental protection procedure manuals and ship security plan, files or records related to safety, quality and
environmental protection and security, both hard copy and electronic forms 
	 

	 	F.	 All deck/engine log book/bell books – copies for a period of not less than 3 months to remain on board for Master’s safe custody and
reference only. 
	 

	 	G.	 Vessel’s stamps 
	 

	 	H.	 Master’s, officers’ and crews’ personal belongings including the slop chest 
	 

 Following items
shall be kept remaining on board until termination of crew manning agency agreement and/or charter party: 
  

	 	1.	   CS2000 & SAS3 (Crew Payroll System). 

	 	2.	   Videotel “Video-On-Demand” (VOD) Safety Training Computer set. 

	 	3.	   OOCL Departure Reporting System (Electronic form). 

	 	4.	   OOCL Reefer reporting system (same as per OOCL Departure) (electronic form). 

	 	5.	   ATA (Actual Time of Arrival), ATD (Actual Time of Departure) GPS reporting device. 

Clause 19    All details of this Memorandum of Agreement, are to remain strictly
private and confidential among all parties involved. 
 Clause 20    The Vessel
being simultaneously with such delivery under this Agreement, being taken over and delivered to the Seller’s Group OOCL for a period of min 37 months and max 40 months and with Time Charter rate of US Dollar’s 34,500 .-net to the Buyers.
Sellers Group OOCL and Buyers have entered into a Manning Agreement (against payment of US Dollar’s 3,700. daily for covering of such cost). The Charter Party and Manning Agreement are to be attached to this Memorandum of Agreement and form an
integral part of this agreement. 
 Clause 21    Sellers are to confirm in
writing that to the best of their knowledge since the Vessel last dry docked the Vessel has not touched bottom 
 Clause
22    The Charterer has the right to nominate the name of the Vessel. 
 Clause
23    This is an enbloc deal and Buyers shall purchase four vessels, OOCL Rotterdam , OOCL Asia , OOCL Europe and this Vessel, OOCL Hamburg from OOCL Group in accordance with the respective Memorandum of Agreement for each
vessel. Each vessel, OOCL Rotterdam, OOCL Asia , OOCL Europe and this Vessel, OOCL Hamburg shall continue to fly Hong Kong flag after delivery to Buyer under the respective MOA for the vessel. 

Clause 24  Buyers and Sellers agree to use best endeavours to reach agreement on the
modification of the b.bow and rudder of the Vessel during next special survey/dry dock that would improve fuel economy. 
 Clause 25

 A) Sellers to lift Sellers’ Board approval on or before 12 June 2015 on the Memorandum of Agreement, Time
Charterparty and Manning Agency Agreement for the respective vessels, OOCL Rotterdam, OOCL Asia, OOCL Europe and this Vessel, OOCL Hamburg 

 B) Buyers to place a non refundable deposit of US$1,000,000 to Sellers nominated
account within three days of Sellers confirming and lifting Board approval as provided in Clause 25 (A) above 
 C)
Buyers to lift Buyers’ Board approval on or before 6 July 2015 on the Memorandum of Agreement, Time Charterparty and Manning Agency Agreement for the respective vessels, OOCL Rotterdam , OOCL Asia, OOCL Europe and this Vessel, OOCL Hamburg
unless extended pursuant to Clause 25(D) below, and in which case Buyers to lift Buyers ‘Board approval on or before 31 July 2015. 

D) Subject to Buyers placing an additional non refundable deposit of US$1,000,000 to Sellers nominated account on or before
6th of July, Sellers agrees to Buyers extending time to lift Buyers’ Board approval to on or before 31 July 2015. 

E) Upon lifting of Buyers’ Board approval, the deposits place by Buyers pursuant to Clause 25 (B) and (D) above
of US$2,000,000 will be included as part of the 10% deposit under the MOA.
  

					
		 	 For and on behalf of
	  	 For and on behalf of

		 	 THE SELLERS
	  	 THE BUYERS

			
		 	 /s/ Lammy Lee  
	  	 /s/ George Giouroukos

		 	  
 Name: Lammy Lee

 
	  	  
 Name: George Giouroukos

		 	 Title: Attorney-in-fact
	  	  
 Title: As per authorityEX-10.42

 Exhibit 10.42 
  

 
 MEMORANDUM OF AGREEMENT 
Dated:
12th June 2015 
Norwegian Shipbrokers’ 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. 
Loyalton Shipping Limited 
Trust Company Complex, Ajeltake Road, Ajeltake Island, Majuro, Marshall Islands MH96960

hereinafter called the Sellers, have agreed to sell, and 1 
Cassiopi Marine
LLC, of Marshall Islands 
hereinafter called the Buyers, have agreed to buy 2

Name: OOCL Rotterdam 3 
Classification Society/Class: ABS 4 
Built: 2004 By: SAMSUNG HEAVY INDUSTRIES CO., LTD., S. Korea 5 
Flag: Hong Kong Place of
Registration: Hong Kong 6 
Call Sign: VRZK8 Grt/Nrt: 89097/55204 7 
Register
Number: IMO number 9251999 8 
hereinafter called the Vessel, on the following terms and conditions: 9 
Definitions 10 
“Banking days” are defined as days on which banks are open both in
London/Athens/Paris/New 11 
York/Hong Kong the country of the currency stipulated for the Purchase Price in Clause 1 and in the place of closing stipulated in
Clause 8. 12 
“In writing” or “written” means a letter handed over from the Sellers to the Buyers or vice versa, 13 
a registered letter, telex, telefax or other modern form of written communication. 14

“Classification Society” or “Class” means the Society referred to in line 4. 15 
1. Purchase Price : US$ 53,600,000 (Fifty Three Million Six Hundred Thousand United States Dollars) 16 
2. Deposit – Subject to Clause 25 17 
As security for the correct fulfillment of this
Agreement the Buyers shall pay a deposit of 10 % 18 
(ten per cent) of the Purchase Price within Three (3) banking days from the date of this 19

Agreement being signed by both parties by fax or lifting of all subjects, or the date upon which 

 

 
 the joint account is opened, whichever is the latest. 20 
This deposit shall be placed with an international first class bank nominated by the Sellers and held by them in a joint interest bearing account for the Sellers and the Buyers, to
be 21 
released in accordance with joint written instructions of the Sellers and the Buyers. Interest, if any, to be credited to the 22 
Buyers. Any fee charged for holding the said deposit and any closing meeting fees shall be 23

borne equally by the Sellers and the Buyers. 24 
3. Payment 25 
The said ninety (90) percent balance of Purchase Price in full and any other agreed money due in accordance with this Agreement, will be remitted by the Buyers or Buyers’
financiers by Swift Message 103/199 directly to Sellers’ nominated international first class bank with value date not later than two (2) banking days prior to the expected date of delivery of the Vessel. This ninety (90) percent
balance of Purchase Price and any other agreed money shall be paid/released in full free of bank charges to the Sellers’ account with Sellers’ international first class bank on delivery of the Vessel simultaneously against the Protocol of
26 
Delivery and Acceptance duly signed by both Sellers’ and Buyers’ authorized representatives after the Vessel is every respect physically ready for
delivery as per this Agreement and a written Notice of Readiness has been given in accordance with 5(a) of this Agreement. hall be paid in full free of bank charges to on delivery of the Vessel, but not later than 3 banking days after the Vessel is
in every respect 27 
physically ready for delivery in accordance with the terms and conditions of this Agreement and 28 
Notice of Readiness has been given in accordance with Clause 5. 29 
4. Inspections See also
Clause 17a 30 
The agreement is outright and definite subject to terms of the MOA. a)* The Buyers have inspected and accepted the Vessel’s classification
records. The Buyers 31 
have also inspected the Vessel at/in Southampton on about 8/9th September 2011 32 
and have accepted the Vessel following this inspection and the sale is outright and definite, 33

subject only to the terms and conditions of this Agreement. 34 
b)* The Buyers
shall have the right to inspect the Vessel’s classification records and declare 35 
whether same are accepted or not within 36 
The Sellers shall provide for inspection of the Vessel at/in 37 
The Buyers shall undertake the
inspection without undue delay to the Vessel. Should the 38 
Buyers cause undue delay they shall compensate the Sellers for the losses thereby incurred. 39

The Buyers shall inspect the Vessel without opening up and without cost to the Sellers. 40 
During the inspection, the Vessel’s deck and engine log books shall be made available for 41 
examination by the Buyers. If the Vessel is accepted after such inspection, the sale shall 42

become outright and definite, subject only to the terms and conditions of this Agreement, 43 

 

 
 provided the Sellers receive written notice of acceptance from the Buyers within 72 hours 44 
after completion of such inspection. 45 
Should notice of acceptance of the Vessel’s
classification records and of the Vessel not be 46 
received by the Sellers as aforesaid, the deposit together with interest earned shall be 47 
released immediately to the Buyers, whereafter this Agreement shall be null and void. 48 
* 4a)
and 4b) are alternatives; delete whichever is not applicable. In the absence of deletions, 49 
alternative 4a) to apply. 50 
5. Notices, time and place of delivery - See also Clause 23 51 
a) The Sellers shall keep the
Buyers well informed of the Vessel’s itinerary and shall 52 
provide the Buyers with 30, 20, 10, 5, and 3 days notice of the approximate estimated and 1 day 53

definite notice time of Vessel’s readiness for delivery and the arrival at the intended place of drydocking/underwater inspection/delivery. When the Vessel is
at the place 54 
of delivery and in every respect physically ready for delivery in accordance with this 55 
Agreement, the Sellers shall give the Buyers a written Notice of Readiness for delivery and 56

only at the time when the Vessel became ready for delivery in all respects. b) The Vessel shall be delivered and taken over safely afloat at a safe and accessible
berth 57 
alongside or safe and accessible anchorage within port limits at/in 58

in the Sellers’ option. 59 
Expected time of delivery:
15th September 2015 and not later than 30th November 2015 and is always at Sellers option. 60 
Date of cancelling (see Clauses 5 c), 6 b) (iii) and 14):
30th November 2015 in Buyers option. 61 
c) If the Sellers anticipate that, notwithstanding the exercise of due diligence by them, the 62 
Vessel will not be ready for delivery by the cancelling date they may notify the Buyers in 63

writing stating the date when they anticipate that the Vessel will be ready for delivery and 64 
propose a new cancelling date. Upon receipt of such notification the Buyers shall have the 65

option of either cancelling this Agreement in accordance with Clause 14 within 7 running 66 
days of receipt of the notice or of accepting the new date as the new cancelling date. If the 67

Buyers have not declared their option within 7 running days of receipt of the Sellers’ 68 
notification or if the Buyers accept the new date, the date proposed in the Sellers’ notification 69 
shall be deemed to be the new cancelling date and shall be substituted for the cancelling 70

date stipulated in line 61. 71 
If this Agreement is maintained with the new
cancelling date all other terms and conditions 72 
hereof including those contained in Clauses 5 a) and 5 c) shall remain unaltered and in full 73 
force and effect. Cancellation or failure to cancel shall be entirely without prejudice to any 74 
claim for damages the Buyers may have under Clause 14 for the Vessel not being ready by 75 

 

 
 the original cancelling date. 76

d) Should the Vessel become an actual, constructive or compromised total loss before delivery 77 
the deposit together with interest earned shall be released immediately to the Buyers 78

whereafter this Agreement shall be null and void. 79 
6. Drydocking/Divers
Inspection – See Clause 17 80 
a)** The Sellers shall place the Vessel in drydock at the port of delivery for inspection by the 81 
Classification Society of the Vessel’s underwater parts below the deepest load line, the 82

extent of the inspection being in accordance with the Classification Society’s rules. If the 83 
rudder, propeller, bottom or other underwater parts below the deepest load line are found 84

broken, damaged or defective so as to affect the Vessel’s class, such defects shall be made 85 
good at the Sellers’ expense to the satisfaction of the Classification Society without 86

condition/recommendation*. 87 
b)** (i) The Vessel is to be delivered
without drydocking. However, the Buyers shall 88 
have the right at their expense to arrange for an underwater inspection by a diver approved 89 
by the Classification Society prior to the delivery of the Vessel. The Sellers shall at their 90

cost make the Vessel available for such inspection. The extent of the inspection and the 91 
conditions under which it is performed shall be to the satisfaction of the Classification 92

Society. If the conditions at the port of delivery are unsuitable for such inspection, the 93 
Sellers shall make the Vessel available at a suitable alternative place near to the delivery 94

port. 95 
(ii) If the rudder, propeller, bottom or other underwater parts
below the deepest load line 96 
are found broken, damaged or defective so as to affect the Vessel’s class, then unless 97 
repairs can be carried out afloat to the satisfaction of the Classification Society, the Sellers 98 
shall arrange for the Vessel to be drydocked at their expense for inspection by the 99

Classification Society of the Vessel’s underwater parts below the deepest load line, the 100 
extent of the inspection being in accordance with the Classification Society’s rules. If the 101 
rudder, propeller, bottom or other underwater parts below the deepest load line are found 102

broken, damaged or defective so as to affect the Vessel’s class, such defects shall be made 103 
good by the Sellers at their expense to the satisfaction of the Classification Society 104

without condition/recommendation*. In such event the Sellers are to pay also for the cost of 105 
the underwater inspection and the Classification Society’s attendance. 106 
(iii) If the
Vessel is to be drydocked pursuant to Clause 6 b) (ii) and no suitable dry- 107 
docking facilities are available at the port of delivery, the Sellers shall
take the Vessel 108 
to a port where suitable drydocking facilities are available, whether within or outside the 109 
delivery range as per Clause 5 b). Once drydocking has taken place the Sellers shall deliver 110

the Vessel at a port within the delivery range as per Clause 5 b) which shall, for the 111 
purpose of this Clause, become the new port of delivery. In such event the cancelling date 112

provided for in Clause 5 b) shall be extended by the additional time required for the 113 

 

 
 drydocking and extra steaming, but limited to a maximum of 14 running 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

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 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. – See Clause 18 
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. 
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): 
The Buyers shall take
over the remaining bunkers and unused lubricating oils in storage tanks and 
sealed drums and pay the current net market price (excluding barging expenses) 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: Hong Kong at Sellers office

In exchange for payment of the Purchase Price the Sellers shall furnish the Buyers with delivery 
documents, namely: that are reasonably required by the Buyers for the legal transfer of the

Vessel and for her registration under the new ownership. The list of documents to be furnished 
by the Sellers to the Buyers which shall be mutually agreed and the said list shall be

incorporated into this Agreement by way of an Addendum. 
a) Legal Bill of Sale
in a form recordable in (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. 
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 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 original classification certificate(s), 
International certificates(s) as well as all plans manuals, drawing, records etc., which are on board the Vessel
or ashore. 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 shall deliver warrant that the Vessel, at the time of delivery, is free from all taxes 
charters, encumbrances, mortgages and maritime liens or any other debts whatsoever to the Buyers. The Sellers 
hereby undertake to indemnify the Buyers against all consequences of claims arising out of liabilities made 
against the Vessel which have been incurred by the Sellers 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 with the Hong Kong Shipping Registry shall be for the Sellers’ account. 
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 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 in substantially the same condition as she was at the date of the MOA 
basis ‘strictly as is where is ’fair wear and tear excepted. 
However, But in any
event, the Vessel shall be delivered with her present class maintained without 
Condition*, free of average damage affecting the Vessel’s class, and with her
classification certificates and 
national and international certificates, as well as all other certificates the Vessel had at the date of 
MOA, valid and unextended without condition* 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 – See also Clause 23 
Upon delivery of the Vessel by the Seller to the Buyers pursuant to this agreement, the Buyers 
undertake to change the name of the Vessel and alter funnel markings unless otherwise required by the Seller pursuant to the Charter. (In case of name change, Sellers to advise
timely for preparation of documents). 
13. Buyers’ default 
Should the
deposit not be paid in accordance with Clause 2, of this Agreement, the Sellers have the 
right to cancel this 
Agreement, and they Seller 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, of this Agreement, the 
Sellers have the right to cancel the Agreement, in which case the deposit together with interest earned (if any) 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 
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 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 and this Agreement shall be null and void. 
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, in 
accordance with Clause 2 of this agreement the Buyers have the right to place two representatives on board the Vessel at their sole risk and expense at 
her next or any subsequent port of call upon arrival at on or about 
These representatives are
on board for the purpose of familiarization and in the capacity of 
observers only and they shall not interfere in any respect with the operation of the Vessel. All

equipment/machinery parts open-up inspection is not allowed. The 
Buyers’
representatives shall sign the Sellers’ letter of indemnity prior to their embarkation. 
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 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. 
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 
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 , 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. 
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ADDITIONAL CLAUSES TO M.V. OOCL Rotterdam 
Clause 17 Drydocking / Divers Inspection 
(I) The Vessel is to be delivered without dry-docking. However, the Buyers shall have the option at their expense to arrange for an underwater inspection in one of the ports
(within the Vessels’ schedule) by a diver approved by the Classification Society prior to the delivery of the Vessel always without interference with the Vessel’s operation/schedule. 
The extent of the inspection and the conditions under which it is performed shall be to the satisfaction of the Classification Society. 
Sellers to provide a Letter of Undertaking whereby Sellers to confirm that, to the best of their knowledge, the Vessel has not grounded or touched bottom between the place of
diving inspection and the place of delivery. Buyers’ superintendent to have the right to attend underwater inspection. Sellers to require the Class to attend such underwater inspection. 
Cost for diver(s) and class to be for Buyers’ account but Sellers to arrange for the attendance of class. Unless damages are found to affect the Vessel’s Class, in which
case both divers and surveyor are for Sellers’ account. 
(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, and Classification Society approves to postpone such repairs/rectification of recommendations/conditions until the next periodical drydocking, then the Vessel to be delivered
without drydocking and repairs always providing such damage does not affect the Vessel’s normal operational performance. The Sellers to make a cash settlement to the Buyers for such repairs/rectification which is to be calculated on the basis
of the average quotation received from two reputable shipyards, one obtained by each party. Said compensation to be deducted from the Purchase Price at the time of delivery. However, if such damage affect the Vessel’s Class and
repairs/rectification of recommendation/conditions cannot be postponed by Classification Society until the next periodical drydocking, 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 for the cost of the 

 
underwater inspection and the Classification Society’s attendance. 
  

	(III)	 If the Vessel is to be drydocked pursuant to this Clause and no suitable drydocking facilities are available at the port of underwater inspection
or 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). The Buyers shall then have the right to paint the Vessel in drydock and
attend seavalves and seachests and carry out any other works connected to outside bottom for their own account and risk, provided same not interfering with the Sellers preparation for delivery. Buyers works have to be finished up to delivery of the
Vessel or, if not, the delivery of the Vessel can be done in drydock but Sellers to remain responsible for undocking costs. 
	 

 Once drydocking has taken place the Sellers shall deliver the Vessel
at a port within 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. Sellers shall undertake timely delivery of the vessel by doing their utmost to ensure any drydocking period is minimized. 

* 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 
 Clause 17a 

At Buyers request and subject to no disruption of operation of
the Vessel, Seller shall arrange a time to be mutually agreed with Buyers for Buyers to inspect and view the Vessel’s records. 

Clause 18 Spares/Bunker/Luboils 

The Sellers shall deliver the Vessel to the Buyers with everything belonging to her at the date of MOA except
those consumed for maintenance and repair work in the period between date of MOA and date of delivery of the Vessel) whether on board or on order at no extra cost to the Buyers, including broached and un-broached stores, provisions, spare parts
owned by Sellers. 
 The Sellers are not required to replace spare parts 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. 

Excluded from the sale are leased or hired items presently onboard, master’s, officers’ and crews’ personal
belongings. 
 All ship plans and drawings and other documents on board or ashore are included in the sale
and must be handed over to the Buyers at the time of delivery. 
 The Sellers are not to remove from the
Vessel any maintenance records for machineries and deck equipment unless same replaced by photocopies. Upon termination of the Crew Management, the Sellers shall remove from the Vessel the maintenance records for the period from the Vessel’s
built date to the date of delivery of the Vessel to the Buyers. However Sellers to give copies to Buyers of the total working hours and working hours since last overhauling of the main engine and auxiliary machinery. 

 Lubricating oils quantities survey to be mutually performed by
the Sellers and the Buyers’ representatives at the time of delivery. 
 The Buyers will also pay extra
for unused lubricating oils at the Seller’s last net contract prices of each supply (first in/first out), net of any discounts, which to be evidenced by invoices. The payment for luboils shall be deducted from 2nd hire payment of the Vessel payable by OOCLL to the Buyers. Unused lubricating oils are defined as lubricating oils in designated storage tanks that have not previously passed through the
Vessel’s system and/or unopened drums. 
 Bunkers remaining on board at the time of delivery are Charterers’
property and to be recorded for reference only. 
 Any equipment on board the Vessel which belongs to any
third parties are including, “Hong Kong observatory barograph” and “spare parts for maintenance and repair of Reefer Cargo Containers provided by partner line (ie member lines of Grand Alliance and G6) and/or Sub-charterers” and
those items (To be advised) as below shall be excluded from the sale of the Vessel under this Agreement. 

Items to remain on board: 
  

	 	-	 Cargo loading program, C.D., Instructions manual and approval certificate of loading program and loading instrument (loading computer) 
	 

	 	-	 Originals of all Continuous Synopsis Record 
	 

	 	-	 Bunker delivery receipts for last two years and bunker samples for one year (as per Marpol requirement) 
	 

	 	-	 All existing computer/I.T. hardware including those for cargo operation, navigation and controlling of the Vessel, and printers will remain on
board 
	 

	 	-	 Photocopier will remain on board 
	 

	 	-	 PMS (Planned Maintenance System by Pentatech (ex O-Yang) remain on board up to 90 days after vessel delivery 
	 

	 	-	 All ACETYLENE, OXYGEN and FREON gas bottles remain on board up to 30 days after vessel delivery unless their contracts to be taken over by the
Buyer. 
	 

	 	-	 Oil record book for last 3 years, Garbage record book for last 2 years and PSC reports for last 2 years (as per Marpol/PSC requirement) 
	 

 The off-landing items include: 

 

	 	A.	 Any computer/I.T. software which is proprietary to members of OOCL Group including OOCL program such as Xantic Email System (Amosconnect email
system), OOCL forms, licensed softwares such as Microsoft Operating system and Windows Office applications. 
	 

	 	B.	 All OOCL documents, including those with OOCL logo printed. 
	 

	 	C.	 Ship’s official stamps, full set of Crew Articles (Agreement and Lists of the Crew), official Log Book and Radio/GMDSS Log Books. 
	 

	 	D.	 OOCL House flags 
	 

	 	E.	 All safety, quality and environmental protection procedure manuals and ship security plan, files or records related to safety, quality and
environmental protection and security, both hard copy and electronic forms 
	 

	 	F.	 All deck/engine log book/bell books – copies for a period of not less than 3 months to remain on board for Master’s safe custody and
reference only. 
	 

	 	G.	 Vessel’s stamps 
	 

	 	H.	 Master’s, officers’ and crews’ personal belongings including the slop chest 
	 

 Following items
shall be kept remaining on board until termination of crew manning agency agreement and/or charter party: 
  

	 	1.	 CS2000 & SAS3 (Crew Payroll System). 
	 

	 	2.	 Videotel “Video-On-Demand” (VOD) Safety Training Computer set. 
	 

	 	3.	 OOCL Departure Reporting System (Electronic form). 
	 

	 	4.	 OOCL Reefer reporting system (same as per OOCL Departure) (electronic form). 
	 

	 	5.	 ATA (Actual Time of Arrival), ATD (Actual Time of Departure) GPS reporting device. 
	 

 Clause 19      All details of
this Memorandum of Agreement, are to remain strictly private and confidential among all parties involved. 

Clause 20      The Vessel being simultaneously with such delivery under
this Agreement, being taken over and delivered to the Seller’s Group OOCL for a period of min 37 months and max 40 months and with Time Charter rate of US Dollar’s 34,500 .-net to the Buyers. Sellers Group OOCL and Buyers have entered into
a Manning Agreement (against payment of US Dollar’s 3,700. daily for covering of such cost). The Charter Party and Manning Agreement are to be attached to this Memorandum of Agreement and form an integral part of this agreement. 

Clause 21      Sellers are to confirm in writing that to the best of
their knowledge since the Vessel last dry docked the Vessel has not touched bottom 
 Clause
22      The Charterer has the right to nominate the name of the Vessel. 

Clause 23      This is an enbloc deal and Buyers shall purchase four
vessels, OOCL Hamburg, OOCL Asia , OOCL Europe and this Vessel, OOCL Rotterdam from OOCL Group in accordance with the respective Memorandum of Agreement for each vessel. Each vessel, OOCL Hamburg, OOCL Asia , OOCL Europe and this Vessel, OOCL
Rotterdam shall continue to fly Hong Kong flag after delivery to Buyer under the respective MOA for the vessel. 

Clause 24    Buyers and Sellers agree to use best endeavours to reach agreement on the
modification of the b.bow and rudder of the Vessel during next special survey/dry dock that would improve fuel economy. 
 Clause 25

 A) Sellers to lift Sellers’ Board approval on or before 12 June 2015 on the Memorandum of Agreement, Time
Charterparty and Manning Agency Agreement for the respective vessels, OOCL Hamburg, OOCL Asia, OOCL Europe and this Vessel, OOCL Rotterdam 

 B) Buyers to place a non refundable deposit of US$1,000,000 to Sellers nominated
account within three days of Sellers confirming and lifting Board approval as provided in Clause 25 (A) above 
 C)
Buyers to lift Buyers’ Board approval on or before 6 July 2015 on the Memorandum of Agreement, Time Charterparty and Manning Agency Agreement for the respective vessels, OOCL Hamburg, OOCL Asia, OOCL Europe and this Vessel, OOCL Rotterdam
unless extended pursuant to Clause 25(D) below, and in which case Buyers to lift Buyers ‘Board approval on or before 31 July 2015. 

D) Subject to Buyers placing an additional non refundable deposit of US$1,000,000 to Sellers nominated account on or before
6th of July, Sellers agrees to Buyers extending time to lift Buyers’ Board approval to on or before 31 July 2015. 

E) Upon lifting of Buyers’ Board approval, the deposits place by Buyers pursuant to Clause 25 (B) and (D) above
of US$2,000,000 will be included as part of the 10% deposit under the MOA.
  

			
	 For and on behalf of
	  	 For and on behalf of

	 THE SELLERS
	  	 THE BUYERS

		
	 /s/ Lammy Lee  
	  	 /s/ George Giouroukos

	  
 Name: Lammy Lee
	  	  
 Name: George Giouroukos

	  
 Title: Attorney-in-fact
	  	  
 Title: As per authority

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