LEGAL AND ECONOMIC ANALYSIS OF TRAMP MARITIME SERVICES

ANNEX 6 POOLS AND CONTACT DETAILS

1. TANKER POOLS

1.1 Aframax International

Aframax International 76 Watling Street London EC4M 9BJ England Phone: (44) 207 653-1121 / 1113

DWT SummerVessel Name Year Built Type (M/T) Draft (m)LOA (m) BBLS 98%

ANIA 1994 DH 94,857 13.620 244.81 666,321.80BERYL 1994 DH 94,857 13.620 244.81 666,321.80CAPE AKROTIRI 1998 DH 105,337 14.820 244.00 741,152.00CAPE ANCONA 1998 DH 105,337 14.820 244.00 741,152.00CAPE ASPRO 1998 DH 105,337 14.820 244.00 741,152.00CAPE AVILA 1998 DH 105,337 14.820 244.00 741,152.00ELIA 2006 DH N/A N/A N/A N/AEOS 1993 DH 99,500 12.900 244.00 677,857.00FUCSIA 2003 DH 115,527 14.800 249.00 811,283.00HERO 1994 DH 99,500 12.900 244.00 677,857.00HS TOSCA 2004 DH 115,326 14.930 249.87 781,560.00ICARO 1993 DH 99,500 12.900 244.00 677,857.00MONTIGNY 2003 DH 115,418 14.800 249.00 811,283.00MONTIRON 2003 DH 115,418 14.800 249.00 811,283.00NEREO 1993 DH 99,500 12.900 244.00 677,857.00OVERSEAS CATHY 2004 DH 111,928 14.620 205.17 798,200.00OVERSEAS ELIANE 1994 DH 94,857 13.620 244.81 666,321.80OVERSEAS FRAN 2001 DH 112,056 14.620 250.17 798,200.00OVERSEAS JACAMAR 1998 DH 104,024 N/A N/A N/AOVERSEAS JOSEFACAMEJO 2001 DH 112,056 14.620 250.17 798,200.00

OVERSEAS PORTLAND 2002 DH 112,056 14.620 250.17 798,200.00OVERSEAS SHIRLEY 2001 DH 112,056 N/A N/A N/AOVERSEAS SOPHIE 2003 DH 112,045 14.620 250.17 728,200.00OVERSEAS TAKAMAR 1998 DH 104,000 14.682 243.60 758,946.00PACIFIC RUBY 1994 DH 94,837 13.670 246.90 668,007.00PARNASO 1993 DH 99,500 12.900 244.00 677,857.00PHOENIX ALPHA 2003 DH 104,707 N/A N/A N/APHOENIX BETA 2003 DH 104,707 14.320 248.00 771,752.00PROTEO 1993 DH 99,500 12.900 244.00 677,857.00REBECCA 1994 DH 94,872 13.620 244.81 666,321.80TESEO 1993 DH 99,500 12.900 244.00 677,857.00ZEUS 1992 DH 99,500 12.900 244.00 677,857.00 3,242,952

1.2 Alliance

Alliance

LEGAL AND ECONOMIC ANALYSIS OF TRAMP MARITIME SERVICES

c/o Frontline Management AS Bryggegata 3 P.O.Box 1327-VIKA 0112 Oslo Norway Phone: + 47 23 11 40 00

Vessel Built Dwt Altair Voyager 2) 1993 135 829 Cygnus Voyager 2) 1993 156 836 Front Ardenne 1997 149 999 Front Birch 1991 149 999 Front Brabant 1998 149 999 Front Comor 1993 149 999 Front Glory 1995 149 834 Front Granite 1991 149 999 Front Horizon 1988 149 500 Front Maple 1991 149 999 Front Melody 3) 2001 149 995 Front Pride 1993 149 686 Front Splendour 1995 149 745 Front Sunda 1992 149 999 Front Symphony 3) 2001 149 995 Front Target 1990 149 999 Front Transporter 1989 149 996 Front Traveller 1990 149 999 Front Voyager 2) 1992 155 127 Front Warrior 3) 1998 153 409 Hull NO 1017 2008-Q4 156 000 Hull NO 1018 2009-Q1 156 000 Hull NO 1019 2009-Q1 156 000 Hull NO 1026 2009-Q2 156 000 Marble 1992 149 999 Mindanao 1998 149 999 Nordic Apollo 1) 2003 149 997 Nordic Discovery 1) 1998 149 999 Nordic Fighter 1) 1998 149 999 Sirius Voyager 2) 1994 156 380 Altair Voyager 2) 1993 135 829 Cygnus Voyager 2) 1993 156 836 Front Ardenne 1997 149 999 Front Birch 1991 149 999 Front Brabant 1998 149 999 5,123,146

1.3 Dorado Pool

Dorado Pool

LEGAL AND ECONOMIC ANALYSIS OF TRAMP MARITIME SERVICES

Heidenreich Marine Inc. 320 Post Road Darien, CT 06820 USA Phone:+1-203-662-2600

Vessel Dwt Cubic Draft LOA Beam Built Operator Amazon 47,275 50,332 12.66 182.50 32.22 2002 Dorado Asia Lion 37,292 38,550 10.22 180.20 32.20 1999 Dorado Assos 47,873 49,468 12.52 183.88 32.20 2006 Dorado Da Qing 452 45,823 48,930 11.40 192.82 32.20 2001 Dorado Dubai Star 50,100 52,151 13.00 183.00 32.20 2007 Dorado Eland 47,147 50,332 12.67 182.50 32.22 2003 Dorado Kriti Akti 41,470 46,230 11.98 178.00 30.03 1986 Dorado Kriti River 41,483 46,230 11.98 178.00 30.03 1986 Dorado Kudu 45,948 50,754 12.02 179.88 32.23 2004 Dorado Ming Ze Hu 43,929 45,037 12.00 182.00 30.03 1995 Dorado Port Louis 37,823 40,411 12.32 170.36 29.03 2002 Dorado Prem Mala 47,044 50,336 12.67 182.50 32.22 2000 Dorado Rabindranath Tagore 45,135 49,812 12.62 177.30 30.43 1993 Dorado Samaria 46,787 49,625 12.21 192.00 30.83 1985 Dorado Singapore Star 50,100 52,151 13.00 183.00 32.20 2006 Dorado

Yan Shui Hu 43,929 45,037 12.00 182.00 30.00 1995 Dorado Ying Song Hu 43,929 45,037 12.00 182.00 30.03 1995 Dorado 763,087

1.4 Handytankers KS

Handytankers KS Maersk Tankers Copenhagen A.P.Moller 50 Esplanaden DK-1098 K Copenhagen Denmark Phone: +45 3363 4868

Name DWT Capacity

(m³) Built Structure m.t. Brigit Maersk 29,057 32,033 2006 Double Hull m.t. Elisa 29,000 32,396.8 2005 Double Hull m.t. Maersk Barry 29,000 32,033 2006 Double Hull m.t. Maersk Beaufort 29,000 32,160 2006 Double Hull m.t. Maersk Belfast 29,000 32,033 2005 Double Hull

LEGAL AND ECONOMIC ANALYSIS OF TRAMP MARITIME SERVICES

m.t. Maersk Bering 29,057 32,033 2005 Double Hull m.t. Maersk Bristol 29,000 32,033 2005 Double hull m.t. Peonia 29,000 32,396.8 2005 Double Hull m.t. Punica 29,000 32,396.8 2005 Double Hull m.t. Stella Azzurra 29,000 32,460.8 2005 Double Hull m.t. Bauci 37,320 44,582 2002 Double Hull m.t. Favola 37,320 44,582 2002 Double Hull m.t. Fresia 37,230 44,618 2003 Double Hull m.t. Alia 35,000 42,000 2003 Double Hull m.t. Azahar 35,670 42,346 2003 Double Hull m.t. Cielo di Londra 35,985 42,334 2001 Double Hull m.t. Cielo di Parigi 35,985 42,337 2001 Double Hull m.t. Cielo di Salerno 36,031 42,331 2002 Double Hull m.t. Madison 35,261 42,368 2000 Double Hull m.t. Magpie 35,930 42,379 1999 Double Hull m.t. Melide 35,841 42,368 1999 Double Hull m.t. Montreux 35,953 42,368 2000 Double Hull m.t. Nordic Ruth 35,820 42,316 2000 Double Hull m.t. Robin 35,966 42,377 1999 Double Hull m.t. Silvia 35,841 42,334 2000 Double Hull m.t. Trinity 35,268 42,370 2000 Double Hull m.t. Cielo diGuangzhou 38,800 45,905.3 2005 Double Hull m.t. Diana 38,472 43,625 2005 Double Hull m.t. Ninae 38,500 43,625 2005 Double Hull m.t. Nordic Pia 38471 43625 2006 Double Hull m.t. Louise 29,998 39,640 1988 Double Side m.t. AlessandraBottiglieri 35,000 44,589 2002 Double Hull m.t. Ghetty Bottiglieri 35,000 44,589 2002 Double Hull m.t. ManuelaBottiglieri 35,000 44,589 2002 Double Hull m.t. MariellaBottiglieri 35,000 44,589 2002 Double Hull m.t. Fox 37,178 41,865 2005 Double Hull m.t. Ohio 37,999 42,273 2001 Double Hull m.t. Orontes 37,274 42,204 2002 Double Hull m.t. Seine 35,407 41,908.4 1999 Double Hull m.t. Tevere 37,178 41,956 2005 Double Hull m.t. Maritea 35,795 42,336 2002 Double Hull m.t. HandytankersUnity 34,620 na 2006 Double Hull m.t. Kingfisher 34,586 38,000 2005 Double Hull m.t. Maersk Radiant 35,186 38,000 2004 Double Hull m.t. Maersk Ramsey 34,648 38,220 2004 Double Hull m.t. Maersk Rapier 34,985 38,388 2000 Double Hull m.t. Maersk Remlin 34,999 38,200 2003 Double Hull m.t. Maersk Rhine 34,999 38,386 1999 Double Hull m.t. Maersk RhodeIsland 34,801 38,060 2002 Double Hull m.t. Maersk Rhone 34,999 38,316 1999 Double Hull m.t. Maersk Riesa 34,558 38,839 2003 Double Hull

LEGAL AND ECONOMIC ANALYSIS OF TRAMP MARITIME SERVICES

m.t. Maersk Riga 34,810 38,205 2001 Double Hull m.t. Maersk Rosyth 34,815 38,205 2003 Double Hull m.t. Maersk Rouen 34,860 38,205 2000 Double Hull m.t. Maersk Rugen 34,861 38,138.6 2001 Double Hull m.t. Maersk Rye 34,999 38,220 2004 Double Hull m.t. Ocean Quest 34,999 38,317 2000 Double Hull m.t. Ras Maersk 34,801 38,046 2003 Double Hull m.t. Ribe Maersk 34,999 38,600 2004 Double Hull m.t. Richard Maersk 34,826 38,205 2001 Double Hull m.t. Rita Maersk 34,999 38,000 2004 Double Hull m.t. Robert Maersk 34,801 38,061 2003 Double Hull m.t. Romo Maersk 34,807 38,204 2003 Double Hull m.t. Rosa Mærsk 35,190 38,332.6 2005 Double Hull m.t. Roy Maersk 35,190 38,076 2005 Double Hull m.t. Skylark 34,620 38,061 2004 Double Hull m.t. African Future 40,263 44,472 2005 Double Hull m.t. Cielo di Milano 40,083 44,760 2003 Double Hull m.t. Cielo di Napoli 37,116 44,760 2002 Double Hull m.t. Cielo di Roma 37,118 44,760 2003 Double hull m.t. Hans Scholl 40,250 44,472 2004 Double Hull m.t. Simon 37,247 44,760 2004 Double Hull m.t. Sophie 37,266 44,473.2 2004 Double Hull 2,552,908

1.5 Jacob-Scorpio Pool

Jacob-Scorpio Pool Management s.a.m. 9, rue du Gabian MC 98000 Monaco Phone: +377 97 98 58 50

LR1 DWT Built Georgis Nikolos 68,524 2003 Noemi 72604 2004 Senatore 72514 2004 Chaleur Bay Ice Class 71345 2000 Margara Ice Class 71345 2000 Carl Jacob 72500 2006 Amalia Jacob 72500 2006 TBN July 2007 TBN August 2007 Panamax DWT Built Danubia 68524 2004 Overseas Goldmar 69684 2002 Overseas Silvermar 69609 2002 Jill Jacob 71562 2000 Johann Jacob 71345 2000 Venice Ice Class 81408 2001 TBN 2007 1,002,664

LEGAL AND ECONOMIC ANALYSIS OF TRAMP MARITIME SERVICES

1.6 Maersk Small Tankers Pool

Maersk Tankers Copenhagen A.P.Moller 50 Esplanaden DK-1098 K Copenhagen Denmark Phone: +45 3363 4806

Name Built DWT Maersk Naantali 2006 16,600 Maersk Nairn 2006 16,600 Tärnholm 2005 14,796 Maersk Newport 2005 16,716 Maersk Nordenham 2004 16,716 Tärnvåg 2003 14,796 Tärnhav 2002 14,796 Tärnvik 2001 14,796 125,816

1.7 Norient Product Pool A/S

Norient Product Pool A/S 49, Amaliegade DK-1256 Copenhagen K Denmark Telephone no.: + 45 32 71 23 00

Name of vessel DeadweightCapacity (m³) Built Flag Ice class M.T. "Arctic Bay" 51,000 52,500 2007 Malta 1A M.T. "Arctic Blizzard" 51,000 52,400 2006 Malta 1A M.T. "Arctic Breeze" 51,000 52,400 2006 Malta 1A M.T. "Baltic Advance" 37,343 42,200 2006 Cyprus 1B M.T. "Baltic Ambition" 37,343 42,200 2005 Cyprus 1B M.T. "Baltic Commander I" 37,389 42,200 2000 Cyprus 1B M.T. "Baltic Faith" 37,300 42,200 2006 Cyprus 1A M.T. "Baltic Favour" 37,300 42,200 2006 Cyprus 1A M.T. "Baltic Force" 37,300 42,200 2006 Cyprus 1A M.T. "Baltic Freedom" 37,300 42,200 2006 Tba 1A M.T. "Baltic Front" 37,300 42,200 2006 Cyprus 1A M.T. "Baltic Mariner" 37,300 42,200 2006 Tba 1B M.T. "Baltic Marshall" 37,300 42,200 2006 Cyprus 1B M.T. "Baltic Merchant" 37,300 42,200 2006 Cyprus 1B M.T. "Baltic Monarch" 37,300 42,200 2006 Tba 1B M.T. "Baltic Sky I" 37,000 42,200 2001 Malta 1B M.T. "Baltic Sun Ii" 37,305 41,956 2005 Malta 1B M.T. "Baltic Wind" 37,296 42,207 2003 Malta 1B M.T. "Kerlaz" 37,255 42,300 2004 Luxembourg 1B

LEGAL AND ECONOMIC ANALYSIS OF TRAMP MARITIME SERVICES

M.T. "Mare Action" 37,343 42,200 2005 Cyprus 1B M.T. "Mare Ambassador" 37,371 42,200 2005 Marshall Isl. 1B M.T. "Nord Farer" 40,083 44,500 2005 Italian M.T. "Nord Mermaid" 38,500 43,500 2006 DIS M.T. "Nord Princess" 38,554 43,625 2006 DIS M.T. "Nord Sea" 45,987 52,500 2003 Hong Kong M.T. "Nord Sound" 45,975 53,500 2003 Panama M.T. "Nord Strait" 45,934 52,600 2004 Panama M.T. "Nord Stream" 45,974 52,491 2003 Panama M.T. "Nord Thumbelina" 38,500 43,500 2006 DIS M.T. "Nordamerika" 35,775 42,353 2000 Marshall Isl M.T. "Nordeuropa" 35,775 42,353 2000 DIS M.T. "Nordscot" 35,770 42,371 2001 Liberia M.T. "Omega Prince" 36,680 42,300 2006 Marshall Isl. 1A M.T. "Omega Princess" 36,680 42,300 2006 Marshall Isl. 1A M.T. "Stx Ace2" 45,800 52,400 2006 Panama 1,390,332

1.8 Marida Pool

Marida Pool Heidenreich Marine Inc. 320 Post Road Darien, CT 06820 USA Phone: +1-203-662-2600

Vessel Dwt Cubic Draft LOA Beam Built Operator Attikos 12,000 13,897 7.46 134.85 22 2005 Marida Marida Aiolos 15,000 17,905 8.5 149.3 22 2007 Marida Marida Boreas 15,000 17,905 8.5 149.3 22 2007 Marida Marida Medea 15,000 17,905 8.5 149.3 22 2008 Marida Marida Merope 15,000 17,905 8.5 149.3 22 2007 Marida Marida Notos 15,000 17,905 8.5 149.3 22 2007 Marida Marida Okeanos 15,000 17,905 8.5 149.3 22 2007 Marida Marida Paterna 16,772 18,482 8.9 144.17 23 2006 Marida Marida Patnos 16,714 18,492 8.9 144.17 23 2006 Marida Marida Prince 11,259 11,597 8.41 116.5 20 2006 Marida Marida Princess 11,259 11,597 8.41 116.5 20 2006 Marida Watford 12,000 13,855 7.51 134.85 22 2005 Marida 170,004

1.9 Odfjell Seachem Pool

Odfjell ASA - Odfjell Seachem AS Conrad Mohrsv. 29, P.O. Box 6101 Postterminalen 5892 Bergen, NORWAY Tel: +47 5527 0000

LEGAL AND ECONOMIC ANALYSIS OF TRAMP MARITIME SERVICES

Vessels owned

Vessel Year Built Dwt Cbm

Stainless Steel

No Of Tanks

Bow Sirius 2006 40 005 52 126 52 126 40 Bow Sea 2006 40 048 52 126 52 126 40

Bow Summer 2005 40 036 52 126 52 126 40 Bow Sky 2005 40 005 52 126 52 126 40

Bow Spring ¹ 2004 39 942 52 126 52 126 40

Bow Star ¹ 2004 39 832 52 126 52 126 40 Bow Sun 2003 39 842 52 126 52 126 40

Bow Firda ¹ 2003 37 427 40 515 40 515 47

Bow Chain ¹ 2002 37 518 40 515 40 515 47

Bow Favour 2001 37 438 40 515 40 515 47

Bow Century 2000 37 438 40 515 40 515 47

Bow Fortune 1999 37 395 40 515 40 515 47

Bow Master 1999 6 046 6 878 6 878 14

Bow Mate 1999 6 001 6 864 6 864 14

Bow Pilot 1999 6 000 6 865 6 865 14

Bow Sailor 1999 6 000 6 870 6 870 14

Bow Cecil ¹ 1998 37 345 40 515 33 236 47

Bow Flora 1998 37 369 40 515 33 236 47

Bow Balearia 1998 5 870 5 941 5 941 20

Bow Oceanic 1997 17 460 18 620 18 620 24

Bow Bracaria 1997 5 870 5 941 5 941 20

Bow Brasilia 1997 5 870 5 941 5 941 20

Bow Cardinal 1997 37 446 41 487 34 208 52

Bow Faith 1997 37 479 41 487 34 208 52

Bow Bahia 1996 5 870 5 941 5 941 20

Bow Querida 1996 10 115 10 956 10 956 18

Bow Cedar 1996 37 455 41 608 34 329 52

Bow Fagus 1995 37 375 41 608 34 329 52

Bow Clipper 1995 37 166 41 492 34 213 52

Bow Flower 1994 37 221 41 492 34 213 52

Bow Eagle 1988 24 728 32 458 19 662 25

Bow Cheetah 1988 40 258 47 604 - 29

Bow Leopard 1988 40 249 47 604 - 29

LEGAL AND ECONOMIC ANALYSIS OF TRAMP MARITIME SERVICES

Bow Lion 1988 40 272 47 604 - 29

Bow Peace 1987 45 655 52 173 2 167 23

Bow Power 1987 45 655 52 173 2 167 23

Bow Pride 1987 45 655 52 173 2 167 23

Bow Prima 1987 45 655 52 173 2 167 23

Bow Prosper 1987 45 655 52 173 2 167 23

Bow Fertility 1987 45 507 52 173 2 167 23

Bow Fraternity 1987 45 507 52 173 2 167 23

Bow Panther 1986 40 263 47 604 - 29 Bow Puma 1986 40 092 47 604 - 29 Bow Angelim (50%) 1985 10 259 10 136 6 500 18 Bow Araucaria (50%) 1984 10 259 10 159 6 500 18

Bow Hunter 1983 23 002 25 026 21 031 28

Bow Maasstad 1983 38 039 48 866 - 22

Bow Maasstroom 1983 38 039 48 866 - 22

Bow Maasslot 1982 38 039 48 866 - 22

Bow Fighter 1982 34 982 41 184 6 299 34

Owl Trader 1982 12 450 14 484 8 070 22

Bow Pioneer 1982 23 016 25 965 20 969 28

Bow Viking 1981 33 590 40 956 21 745 36

Bow Lancer 1980 35 100 42 468 6 252 34

Bow Lady 1978 32 258 41 354 3 077 42

Bow Hai Tun (49%) 2006 3 845 4 361 - 10

Angelim (50%) 1985 10 259 10 136 6 500 18

Araucaria (50%) 1984 10 259 10 159 6 500 18

Bow Pacifico (50%) 1982 18 657 22 929 10 849 31

Jatai (50%, LPG) 1979 4 452 4 031 - 3

Bow Condor (50%) 1978 27 950 34 656 21 035 43

Time Chartered

Vessel Year Built Dwt Cbm

Stainless Steel

No Of Tanks

Bow Fuji 2006 19 800 22 140 22 140 22 Bow Ophelia³ 2006 19 900 22 655 22 655 20

Bow Plata 2006 19 807 22 143 22 143 22 Bow Engineer 2006 30 086 35 548 35 548 28 Bow Orania³ 2006 19 993 22 640 22 640 20

LEGAL AND ECONOMIC ANALYSIS OF TRAMP MARITIME SERVICES

Bow Architecct 2005 30 058 36 000 36 000 28 Bow Rio 2005 19 990 21 408 21 408 22 Bow Europe 2005 19 727 21 573 21 573 36 Bow Santos 2004 19 997 21 846 21 846 22 Bow Asia 2004 9 901 10 866 10 866 20 Bow Singapore 2004 9 888 10 867 10 867 20 Bow Americas 2004 19 707 22 050 22 050 36 Bow de Rich 2003 12 452 13 300 13 300 22 Bow Wallaby 2003 11 951 13 485 13 485 22 Bow de Feng 2002 12 514 13 289 13 289 22 Bow West 2002 12 503 13 299 13 299 22 Bow de Silver 2000 11 747 12 296 12 296 20 Bow Andino 2000 16 121 17 270 17 270 30 Bow de Jin 1999 11 752 12 296 12 296 20 Bow Wind 1999 8 587 9 226 9 226 20 Multitank Batavia³ 1998 5 870 5 941 5 941 20 Multitank Badenia³ 1997 5 870 5 941 5 941 20 Multitank Bolognia³ 1997 5 870 5 941 5 941 20 Multitank Britannia³ 1996 5 870 5 941 5 941 20 NCC Jubail³ 1996 37 499 41 488 34 209 52 NCC Mekka³ 1995 37 272 41 588 34 257 52 NCC Riyad³ 1995 37 274 41 492 34 213 52 Bow Antisana ² 1989 8 192 9 899 5 777 22 Bow Gorgonilla ² 1989 8 192 9 899 5 777 22 NCC Baha 1988 24 728 32 458 19 662 25 NCC Asir³ 1983 23 001 24 965 20 969 28 NCC Arar³ 1982 23 002 24 965 20 969 28 Bow Orion 1977 28 083 34 656 21 035 43 Bow Saturn 1976 28 030 34 656 21 035 43

Number of ships: 94 2 399 007 2 784 265 1 715 034

Time Chartered

Vessel Year Built Dwt M³

Stainless Steel

Number Of Tanks

Bow Fuji 2006 19 800 22 140 22 140 22 Bow Ophelia³ 2006 19 900 22 655 22 655 20 Bow Plata 2006 19 807 22 143 22 143 22 Bow Engineer 2006 30 086 35 548 35 548 28 Bow Orania³ 2006 19 993 22 640 22 640 20

LEGAL AND ECONOMIC ANALYSIS OF TRAMP MARITIME SERVICES

Bow Architecct 2005 30 058 36 000 36 000 28 Bow Rio 2005 19 990 21 408 21 408 22 Bow Europe 2005 19 727 21 573 21 573 36 Bow Santos 2004 19 997 21 846 21 846 22 Bow Asia 2004 9 901 10 866 10 866 20 Bow Singapore 2004 9 888 10 867 10 867 20 Bow Americas 2004 19 707 22 050 22 050 36 Bow de Rich 2003 12 452 13 300 13 300 22 Bow Wallaby 2003 11 951 13 485 13 485 22 Bow de Feng 2002 12 514 13 289 13 289 22 Bow West 2002 12 503 13 299 13 299 22 Bow de Silver 2000 11 747 12 296 12 296 20 Bow Andino 2000 16 121 17 270 17 270 30 Bow de Jin 1999 11 752 12 296 12 296 20 Bow Wind 1999 8 587 9 226 9 226 20 Multitank Batavia³ 1998 5 870 5 941 5 941 20 Multitank Badenia³ 1997 5 870 5 941 5 941 20 Multitank Bolognia³ 1997 5 870 5 941 5 941 20 Multitank Britannia³ 1996 5 870 5 941 5 941 20 NCC Jubail³ 1996 37 499 41 488 34 209 52 NCC Mekka³ 1995 37 272 41 588 34 257 52 NCC Riyad³ 1995 37 274 41 492 34 213 52 Bow Antisana ² 1989 8 192 9 899 5 777 22 Bow Gorgonilla ² 1989 8 192 9 899 5 777 22 NCC Baha 1988 24 728 32 458 19 662 25 NCC Asir³ 1983 23 001 24 965 20 969 28 NCC Arar³ 1982 23 002 24 965 20 969 28 Bow Orion 1977 28 083 34 656 21 035 43 Bow Saturn 1976 28 030 34 656 21 035 43 Number of ships: 94 2 399 007 2 784 265 1 715 034

Panamax International OSG Ship Management, Inc. 666 Third Avenue New York, NY 10017 USA Telephone: + 1 212 953 4100

LEGAL AND ECONOMIC ANALYSIS OF TRAMP MARITIME SERVICES

Sigma Pool

c/o Heidenreich Marine Inc. 320 Post Road Darien, CT 06820 USA Phone: +1-203-662-2600 Vessel Dwt Draft Beam Built Operator

Amba Bhakti 106,597 14.75 42.03 1997 Sigma Amba Bhargavi 106,054 14.92 42.03 2006 Sigma Amba Bhavanee 107,081 14.8 42.03 2003 Sigma Ambelos 105,315 14.81 42.04 2006 Sigma Atlantic Galaxy 115,583 14.83 44.04 2005 Sigma Bonita 108,386 15.16 42.03 2006 Sigma Carmel 104,494 14.82 42.03 2006 Sigma Cherans Lyra 97,098 13.62 41.82 1993 Sigma Dubai Legend 112,661 14.62 44 2002 Sigma Heidmar Brazos 78,656 12.21 37.18 1988 HLSI Heidmar Sabine 78,656 12.21 37.2 1988 HLSI Kaluga 115,707 14.9 44.04 2003 Sigma Amba Bhakti 106,597 14.75 42.03 1997 Sigma Amba Bhargavi 106,054 14.92 42.03 2006 Sigma Amba Bhavanee 107,081 14.8 42.03 2003 Sigma Ambelos 105,315 14.81 42.04 2006 Sigma Atlantic Galaxy 115,583 14.83 44.04 2005 Sigma Bonita 108,386 15.16 42.03 2006 Sigma 1,236,288

1.10 Star Tankers Pool

Ship Name Vessel type Year built

DWT Class

Cabo Sounion Panamax 2004 69,636 ABS Overseas Reymar Panamax 2004 69,636 ABS Cabo Hellas Panamax 2003 69,636 ABS Overseas Goldmar Panamax 2002 69,684 LR Overseas Jademar Panamax 2002 69,708 LR Overseas Pearlmar Panamax 2002 69,697 LR Overseas Rosemar Panamax 2002 69,629 LR Overseas Rubymar Panamax 2002 69,599 LR Overseas Silvermar Panamax 2002 69,609 LR Overseas Cleliamar Panamax 1993 68,626 LR Overseas Polys Panamax 1993 68,623 LR Cabo Sounion Panamax 2004 69,636 ABS Overseas Reymar Panamax 2004 69,636 ABS Cabo Hellas Panamax 2003 69,636 ABS Overseas Goldmar Panamax 2002 69,684 LR Overseas Jademar Panamax 2002 69,708 LR 1,112,383

LEGAL AND ECONOMIC ANALYSIS OF TRAMP MARITIME SERVICES

c/o Heidenreich Marine Inc. 320 Post Road Darien, CT 06820 USA Phone: +1-203-662-2600

Vessel Dwt Draft Beam Built Operator Agrari 63,151 12.82 32.2 1984 Star Aliakmon 61,284 12.29 32.29 2006 Star Allegro Double 67,980 13.62 32.2 1983 Star Aramis 59,439 12.42 32.24 1983 Star Ashley Sea 73,400 14.45 32.29 2006 Star Asopos 61,286 12.29 32.29 2006 Star Aspropyrgos 72,854 14.02 32.26 2004 Star Athens Star 73,549 14.45 32.29 2005 Star Cherans Moon 72,365 14.01 32.29 2004 Star Cherans Ray 71,637 14.02 32.26 2000 Star Cherans Sea 72,365 14.02 32.29 2004 Star Cherans Sky 63,381 12.82 32.2 2000 Star Cherans Star 63,331 12.8 32.2 2000 Star Cherans Sun 71,675 14.02 32.26 2000 Star Daedalos 72,825 14.02 32.26 2005 Star Dartagnan 60,962 12.33 32.24 1984 Star Dromeas 60,489 12.21 32.2 1986 Star Ekavi 64,972 13.22 32.2 1984 Star Evinos 61,728 12.33 32.2 1984 Star Evrotas 61,281 12.29 32.29 2006 Star Hamburg Star 73,869 14.45 32.26 2005 Star Ikaros 72,828 14.02 32.26 2004 Star Ipanema 69,988 13.94 32.2 1992 Star Ismini 62,278 12.82 32.2 1983 Star Ji Li Hu 66,094 13.35 32.54 2000 Star Lian Shun Hu 71,956 14.37 32.2 2005 Star Lian Yun Hu 75,493 14.7 32.26 2006 Star London Star 73,549 14.45 32.26 2006 Star Nestos 61,271 12.29 32.29 2005 Star New York Star 73,549 14.45 32.26 2006 Star Ploutos 73,711 14.5 32.26 2006 Star Saetta 60,792 12.57 32.2 1984 Star Sanko Commander 71,010 13.72 32.23 2004 Star Sanko Confidence 71,024 13.72 32.23 2004 Star Sharon Sea 74,065 14.52 32.29 2006 Star Theo T 73,021 14.02 32.28 2003 Star Voidomatis 61,325 12.29 32.29 2005 Star Xanthos 61,369 12.29 32.29 2005 Star

LEGAL AND ECONOMIC ANALYSIS OF TRAMP MARITIME SERVICES

Agrari 63,151 12.82 32.2 1984 Star Aliakmon 61,284 12.29 32.29 2006 Star Allegro Double 67,980 13.62 32.2 1983 Star Aramis 59,439 12.42 32.24 1983 Star Ashley Sea 73,400 14.45 32.29 2006 Star Asopos 61,286 12.29 32.29 2006 Star Aspropyrgos 72,854 14.02 32.26 2004 Star Athens Star 73,549 14.45 32.29 2005 Star Cherans Moon 72,365 14.01 32.29 2004 Star 2,577,146

1.11 Tankers International

Tankers (UK) Agencies Ltd. Moreau House, 116 Brompton Road, London SW3 1JJ UK Telephone: +44 (0) 20 7870 4700

SHIPNAME BUILT DWT DRAFT CAPA V.K Eddie 2005 305,263 22.423 3,166,353 Shinyo Florentina 2005 319,180 22.524 3,166,353 TI Hellas 2005 318,934 22.524 3,166,353 Ardenne Venture 2004 318,658 22.524 3,166,353 Sea Fortune 1 2003 299,097 20.878 2,142,568 Bunga Kasturi 2003 299,999 21.558 2,177,916 Nordenergy 2003 319,175 22.522 2,178,030 Overseas Rosalyn 2003 317,972 22.524 2,178,878 Nordpower 2003 319,012 22.522 2,109,589 TI Topaz 2002 319,430 22.524 2,097,123 Charles Eddie 2002 305,178 22.423 2,177,915 Overseas Mulan 2002 318,518 22.524 2,178,721 Overseas Tanabe 2002 298,561 21.13 2,177,915 Overseas Chris 2001 309,285 22.723 2,178,721 Famenne 2001 298,412 21.13 2,142,566 Overseas Ann 2001 309,327 22.723 2,148,582 Artois 2001 298,330 21.13 2,087,104 Shinyo Kannika 2001 287,175 20.763 2,159,116 Overseas Sakura 2001 298,641 21.13 2,087,104 C Dream 2000 298,570 21.13 2,157,109 Overseas Donna 2000 309,498 22.723 2,087,104 Nordmillennium 2000 301,443 22.222 2,024,620 Raphael 2000 309,614 22.723 2,087,104 Namur 2000 298,552 21.13 2,087,104 Pacific Lagoon 1999 305,839 22.235 2,157,526

LEGAL AND ECONOMIC ANALYSIS OF TRAMP MARITIME SERVICES

Golden Victory 1999 300,155 21.13 2,129,952 TI Creation 1998 298,324 22.021 2,157,556 Regal Unity 1997 309,966 22.878 2,087,104 Overseas Meridian 1997 300,578 22.222 2,170,834 Overseas Equatorial 1997 300,349 22.222 2,134,629 Overseas Sovereign 1996 309,892 22.878 2,134,919 Hawtah 1996 300,361 22.528 2,168,369 Watban 1996 300,361 22.528 2,127,176 Bourgogne 1996 296,230 22.22 2,127,179 TI Ningbo 1996 298,306 22.023 2,168,387 Overseas Crown 1996 300,482 22.22 2,161,686 TI Qingdao 1995 298,306 22.023 2,161,686 Shinyo Landes 1993 306,474 22.365 2,108,445 TI Guardian 1993 290,927 22.027 2,126,836 Savoie 1993 306,430 22.365 2,127,152 TI Oceania 2003 441,585 24.525 2,126,833 TI Europe 2002 441,561 24.525 2,159,524 TI Africa 2002 441,655 24.525 2,128,346 TI Asia 2002 441,893 24.525 2,159,530 V.K Eddie 2005 305,263 22.423 2,142,568

13,967,498

1.12 Team Tankers Pool

Camillo Eitzen House Smakkedalen 8 DK-2820 Gentofte Danmark Tel: +45 7733 8600

Vessel DWT Built Flag Technical management Siteam Anatas 40,158 1986 MAR TESMA Denmark A/S Team Aniara 40,738 1981 LIB B Shipmanagement Ltd. Team Anja 44,640 1997 MAR B Shipmanagement Ltd. Siteam Leopard 46,100 1985 MAR TESMA Singapore Pte Ltd. Siteam Mars 42,010 1981 MAR TESMA (India) Pvt Ltd. Siteam Merkur 42,010 1981 MAR TESMA (India) Pvt Ltd. Siteam Panther 46,100 1985 MAR TESMA Singapore Pte Ltd. Siteam Saturn 45,831 1987 MAR TESMA Denmark A/S Siteam Tiger 46,100 1985 MAR TESMA Singapore Pte Ltd. Team Neptun 48,309 2000 LIB Chemikalien Seetransport Team Jupiter 48,309 2000 LIB Chemikalien Seetransport Loukas I 45,999 2005 CYP Consultores

de Navigacion s.a.

LEGAL AND ECONOMIC ANALYSIS OF TRAMP MARITIME SERVICES

Ioannis I 45,999 2006 CYP Consultores

de Navigacion s.a. Mattheos I 45,999 2005 CYP Consultores

de Navigacion s.a. Markos I 45,999 2005 CYP Consultoresde Navigacion s.a.

Nautilus 43,538 1998 CYP Consultores

de Navigacion s.a. Team Actinia 40,296 1993 CYP Consultores

De Navigacion s.a. Team Anemonia

40,296 1995 CYP Consultores

De Navigacion s.a. 798,431

Torm LR1 Pool

Tuborg Havnevej 18 DK-2900 Hellerup Denmark Telephone: +45 3917 9200

VESSEL DWT M³ YEAR BUILT FLAG

Action Express 69998 84159.9 1990 Panama Amberjack 84040 86783 1990 Marchall Isl. Bel Taylor 84040 86783 1990 Norwegian Breezy Victoria 74998 81856.17 2007 Bahamas Bw Amazon 69706 83837 2006 Panama Bw Colombia 69706 83837 2007 Panama Difko Chaser 84040 86783 1990 Norwegian Difko Susanne 84040 86783 1989 Norwegian Eternal Diligence 74994 82137.6 2006 Panama Eternal Pride 74994 82137.6 2006 Panama Frontier Express 68520 80250 1993 Panama Longfin 83955 86783 1988 Marshall Isl. Mariella 77769 83673 1986 Norwegian Maritina 69999 83673 1986 Norwegian Nordic Hanne 84000 86783 1987 Norwegian

LEGAL AND ECONOMIC ANALYSIS OF TRAMP MARITIME SERVICES

Nordic Lisbeth 72718 83343.7 2006 Norwegian Nordmars 74999 84020.33 2004 Cyprus Nordmerkur 74999 84020.33 2004 Cyrpus Nordneptun 74999 84020.33 2004 Cyprus Nordvenus 74999 84020.33 2004 Cyrpus Northern Bell 83651 86603.1 1990 Norwegian Omega King 74999 84020.3 2004 Marshall Isl. Omega Queen 74999 84020.33 2004 Marshall Isl. Sara Viking 84040 86783 1990 Norwegian Sitacamilla 83987 86783 1988 Norwegian Sitakathrine 83920 86783 1986 Norwegian Sitamarie 83962 86783 1988 Norwegian Sitamia 84040 86783 1988 Norwegian Sitavera 84040 86745 1989 Norwegian Smooth Hound 84040 86783 1989 Norwegian Torm Anna 74999 84020.33 2004 Danish Torm Emilie 74999 84020.3 2004 Norwegian

Torm Estrid 74999 84020.3 2004 Danish

Torm Ismini 74999 84020.3 2004 Danish

Torm Sara 72718 83343.7 2003 Singapore Torm Signe 72718 83343.7 2005 Singapore

Torm Sofia 72718 83343.7 2005 Singapore Advance Victoria 74995 81853.9 2006 Bahamas 2,942,336

1.13 Torm LR2 Pool

Tuborg Havnevej 18 DK-2900 Hellerup Denmark Telephone: +45 3917 9200

Name DWT M³ Year Flag Champion Pride 99,997 113,326.50 1998 Panama Ds Performer 84,999 117,921.00 1999 Liberian Ds Power 109,354 117,921.00 2000 Liberian Governor Farkhutdinov 108,087 120,931.00 2004 Cyprus Maersk Pearl 99,998 117,921.00 2005 Singapore Maersk Phoenix 99,998 117,921.00 2005 Singapore Maersk Pointer 84,999 117,921.00 2001 Singapore Maersk Princess 99,998 117,921.00 2005 Singapore

LEGAL AND ECONOMIC ANALYSIS OF TRAMP MARITIME SERVICES

Maersk Pristine 99,998 117,921.00 2004 Singapore Maersk Progress 99,998 117,921.00 2005 Singapore Maersk Promise 109,647 121,761.00 2006 Singapore Nordmark 99,999 113,997.60 1998 Cyprus Nordstrength 99,999 113,997.60 1998 Cyprus Primorye 105,177 121,809.80 2000 Cyprus Torm Ann-Marie 99,999 115,534.00 1997 Danish Torm Gudrun 99,965 115,536.40 2000 Norwegian Torm Helene 99,999 115,516.10 1997 Danish Torm Ingeborg 99,999 115,617.00 2003 Norwegian Torm Kristina 99,999 113,997.60 1999 Norwegian Torm Margrethe 109,637 121,655.00 2006 Danish Torm Marie 109,637 121,655.00 2006 Danish Torm Valborg 99,999 116,580.00 2003 Norwegian Unique Priority 105,636 120,154.00 2004 Hong Kong Unique Privilege 105.483 119,549.70 2003 Hong Kong Apm N/B 2006 Apm N/B 2007 Apm N/B 2007 Apm N/B 2008 Apm N/B 2008 Apm N/B 2009 Torm N/B 2007 Torm N/B 2007 Torm N/B 2007 Torm N/B 2008 Torm N/B 2009

2,327,118 1.14 Torm MR Pool

Tuborg Havnevej 18 DK-2900 Hellerup Denmark Telephone: +45 3917 9200

VESSEL DWT M³ YEAR BUILT FLAG Faja De Oro Ii 44,999 52,393.00 1995 Mexican Gotland Carolina 53,160 53,481 2006 Danish Marchekan 45,999 50,192.60 1998 Cyprus Monneron 45,999 50,191.00 1998 Cyprus Moskalvo 44,999 50,191.00 1998 Cyprus Potrero Del Llano Ii 47,165 52,381.00 1999 Mexican

LEGAL AND ECONOMIC ANALYSIS OF TRAMP MARITIME SERVICES

Sanmar Serenade 45,696 49,986.00 1992 Indian Sanmar Symphony 44,990 52,581.00 1985 Indian Torm Anne 44,900 52,258.00 1999 Singapore Torm Camilla 44,990 53,273.00 2003 Danish Torm Carina 44,990 53,245.00 2003 Danish Torm Caroline 44,946 50,738.40 2002 Danish Torm Cecilie 44,946 50,738.00 2001 Norwegian Torm Clara 44,946 50,677.00 2000 Danish Torm Freya 45,990 53,181.00 2003 Danish Torm Gerd 45,940 53,262.00 2002 Danish Torm Gertrud 45,990 53,264.00 2002 Danish Torm Gotland 44,999 52,393.00 1995 Norwegian

Torm Gunhild 44,999 52,258.00 1999 Danish

Torm Helvig 44,990 53,599.00 2005 Danish Torm Mary 44,990 53,177.00 2002 Danish Torm Ragnhild 44,990 53,609.00 2005 Danish Torm Thyra 45,990 53,176.00 2003 Danish Torm Vita 45,940 53,227.00 2002 Danish 1,097,543

1.15 UPT Handy Pool

UPT United Product Tankers GmbH & Co. KG Gasstrasse 4 22761 Hamburg Germany Telephone: +49 40 / 33 95 7 – 0

DWT M³ DRAFT VESSEL FLAG BUILT (s) -98%

IMO COATED (on sdw)

Mount Fuji Cyprus 2003 40,055 42,186 III epoxy 11.97 Mount Olympus Cyprus 2003 40,011 42,186 III epoxy 11.97 Mount McKinney Cyprus 2004 39,997 42,208 III epoxy 11.94 Mount Rainier Cyprus 2004 40,012 42,216 III epoxy 11.94 Mount Robson Cyprus 2004 40,014 42,222 III epoxy 11.94 Mount Adamello Cyprus 2004 40,002 42,221 III epoxy 11.94

Cape Bon Marshall I. 2003 35,089 44,750 III epoxy 10.06

Cape Bird Marshall I. 2003 35,070 44,734 III epoxy 10.06

Cape Bille Marshall I. 2003 35,052 45,734 III epoxy 10.06

LEGAL AND ECONOMIC ANALYSIS OF TRAMP MARITIME SERVICES

Cape Bruny Marshall I. 2004 35,110 44,734 III epoxy 10.05

Cape Bradley Marshall I. 2004 35,159 45,000 III epoxy 10.05

Cape Bacton Marshall I. 2004 35,156 45,000 III epoxy 10.05

Cape Beale Marshall I. Mar-05 39,999 44,734 II epoxy 11.06

Cape Brasilia Marshall I. Mar-06 39,999 44,734 II epoxy 11.06

Cape Bilbao Marshall I. Jun-06 39,999 44,734 II epoxy 11.06

570,724

1.16 USC – United Seatrans Chempool

Seatrans AS P.O.Box 15, Nesttun N-5852 BERGEN NORWAY Switchboard +47 55 92 32 00 Telefax +47 55 91 22 41 mail@seatrans.no

Vessel DWT Operator Built Type

Brage Pacific (TC/pool vessel) 17460 1997 Norwegian Chemical carrier

Normanna (TC/pool vessel) 1825 1987 Liberia Chemical carrier

Normanna (TC/pool vessel) 10020 1996 Italian Chemical carrier

Trans Alina (TC/pool vessel) 5064 2001 Isle of Man Chemical carrier

Trans Arctic 6927 1991 Norwegian Chemical carrier

Trans Emerald 19733 2000 French Chemical carrier/LPG carrier

Trans Emerald 8563 2006 Norwegian Chemical carrier

Trans Exeter 8563 2004 Norwegian Chemical carrier

Trans Fjord 9108 1993 Singapore Chemical carrier

Trans Holm 4399 1981 (93) Norwegian Chemical carrier

Trans Iberia 19733 2000 Norwegian Chemical carrier/LPG carrier

Trans Scandic 6927 1992 Norwegian Chemical carrier

Trans Sea 6783 1992 Norwegian Chemical carrier

Trans Sund 4794 1991 Norwegian Chemical carrier

LEGAL AND ECONOMIC ANALYSIS OF TRAMP MARITIME SERVICES

Trans Tind 2300 1980 (90) Bahamas Chemical carrier

Trans Vik 4777 1991 Norwegian Chemical carrier

Zircone 8024 1993 Italian Chemical carrier

145,000

2. LPG POOLS

2.1 ENGC

Web:http://www.engc.com/contacts_management.htm Email:management@engc.com Tel: +65 6226 6006

Vessel DWT Year Built Owner

Sigloo Hav 11 646 1989 C Eitzen Sigloo Tor 11 646 1989 C Eitzen Sigloo Espoo 10 875 1985 C Eitzen Sigloo Belgica 10 533 1992 C Eitzen Sigloo Discovery 10 533 1990 C Eitzen Sigloo Endurance 10 533 1990 C Eitzen Sigloo Moon 10 300 1987 C Eitzen Sigloo Star 10 300 1987 C Eitzen Norgas Shasta 10 200 2003 Norgas Norgas Napa 10 200 2003 Norgas Sigloo Moss 10 170 1985 C Eitzen Sigloo Polar 8 880 1982 C Eitzen Norgas Orinda 8 556 2002 Norgas Norgas Sonoma 8 556 2003 Norgas Norgas Petaluma 8 556 2003 Norgas Norgas Alameda 8 556 2003 Norgas Norgas Carine 8 405 1989 Norgas Sigloo Finn 8 330 1981 C Eitzen Sigloo Norse 8 309 1982 C Eitzen Norgas Patricia 8 238 1991 Norgas Norgas Chief 8 070 1983 Norgas Norgas Voyager 7 418 1972 Norgas Norgas Trader 7 334 1981 Norgas Norgas Traveller 7 187 1982 Norgas Sigas Yarrow 6 582 1982 C Eitzen Norgas Challenger 6 363 1984 Norgas Norgas Energy 6 130 1979 Norgas

LEGAL AND ECONOMIC ANALYSIS OF TRAMP MARITIME SERVICES

Norgas Pioneer 6 130 1979 Norgas Norgas Pilot 6 083 1977 Norgas Sigas Eildon 6 082 1982 Norgas Norgas Navigator 6 006 1977 Norgas 266,707

2.2 GAS CHEM/GAS MARE

Gas Chem Services GmbH & Co. KG Am Sandtorkai 41 20457 Hamburg Germany gaschem@gaschem.de www.gaschem.de

Vessel Type Capacity Built

GasChem tbn -104°C 17,000 2009

GasChem tbn -104°C 17,000 2009

GasChem tbn -104°C 17,000 2010

GasChem tbn -104°C 17,000 2010

GasChem Ice -104°C 10,517 1996

GasChem Snow -104°C 10,517 1995

Syn Acrab -104°C 9,007 2003 Syn Alcor -104°C 9,033 2003

GasChem Baltic -104°C 8,495 2004

GasChem Atlantic -104°C 8,500 2008

GasChem Pacific -104°C 8,500 2008

GasChem Caribic -104°C 8,500 2008

GasChem Tana -104°C 8,239 1992

GasChem Bergen -104°C 8,239 1991

Cherans Christian -104°C 8,240 1990

LEGAL AND ECONOMIC ANALYSIS OF TRAMP MARITIME SERVICES

GasChem Ben Flor -104°C 8,100 1985

GasChem Atrice -104°C 7,634 1984 Syn Altair -104°C 7,175 1997

Santa Clara -104°C 7,179 1985

Rio Gas -104°C 7,179 1986

Elbegas -104°C 6,588 1983

Gaschem Shinano -104°C 6,500 2007

GasChem Mosel -104°C 6,500 2007

GasChem Leda -104°C 6,500 2007

GasChem Rhone -104°C 6,500 2007 Syn Atlas -104°C 6,046 1993

GasChem Hunte -48°C 5,680 2000

GasChem Weser -48°C 5,680 1999

GasChem Jümme -48°C 5,271 1993

GasChem Jade -48°C 5,271 1992

GasChem Dollart -104°C 4,234 1990 Alstergas -104°C 4,234 1991 GasChem Isar -104°C 4,234 1991 Rheingas -104°C 4,234 1992 Max Planck -104°C 4,234 1992 GasChem Phoenix -104°C 4,234 1993 Syn Mizar -104°C 4,038 1989 Syn Mira -104°C 4,038 1990 Syn Maia -104°C 4,038 1993 Syn Markab -104°C 4,040 1992 305,148

2.3 UNIGAS KOSAN

Vessel M³ Blt Owner Grace Coral 3,017 94 Kinki Transportation Lady Stephanie 3,200 90 Othello Lady Elena 3,500 98 Othello Lady Hilde 3,500 98 Othello

LEGAL AND ECONOMIC ANALYSIS OF TRAMP MARITIME SERVICES

Lady Barbara 3,500 90 Othello Lady Kathleen 3,500 99 Othello Lady Martine 3,500 98 Othello Lady Mathilde 3,500 01 Othello Anette Kosan 3,500 01 Kosan Karin Kosan 3,500 98 East Gate Shipping Brit Kosan 3,500 99 Kosan Lady Margaux 3,500 00 Othello Charlotte Kosan 3,500 03 Kosan Lady Shana 3,501 01 Othello Summer Coral 4,000 00 Kinki Transportation Kinna 4,012 89 East Gate Shipping Birgit Kosan 5,000 95 Maryse Shipping Bente Kosan 4,022 98 Lizzie Kosan 4,014 96 Ellen Kosan 3,215 96

2.4 ANTHONY VEDER

Van Vollenhovenstraat 3 3016 BE Rotterdam The Netherlands P.O. Box 1159 3000 BD Rotterdam The Netherlands E-mail info@anthonyveder.com

Vessel M³ Blt Owner Coral Actinia 3,200 93 Allocean* Coral Carbonic 1,265 99 A. Veder Coral Favia 4,100 01 Iino Coral Isis 6,100 82 A. Veder Coral Lophelia 5,600 06 Cant de Poli Coral Meandra 4,200 96 A. Veder Coral Millepora 4,200 96 A. Veder Coral Obelia 3,750 96 A. Veder Coral Palmata 7,200 94 A. Veder Coral Pavona 7,200 95 A. Veder Coral Rigida 5,300 99 A. Veder Coral Rubrum 5,300 99 A. Veder Marte 3,000 04 De Poli / Arcoin Newmarket 6,500 99 Maruta Norgas Traveller 7,187 80 Norgas Prins J.W. Friso 4,202 89 A. Veder Venere 3,000 04 De Poli / Arcoin Coral Nettuna 5600 2006 Cant. de Poli Coral TBN 5600 2007 Cant de Poli

2.5 UNIGAS INTERNATIONAL

LEGAL AND ECONOMIC ANALYSIS OF TRAMP MARITIME SERVICES

Postal address: P.O. Box 21059 3001 AB Rotterdam The Netherlands Visiting address: Grotiushuis, 6th floor, Westblaak 41 3012 KD Rotterdam The Netherlands Telephone : ++ 31.10.240 59 99 Telefax : ++ 31.10.412 53 45 E-mail : mail@unigas.nl

Vessel M³ Blt Owner London Bridge 5,670 80 MC Shipping Lingegas 3,232 81 Enalia Maritime Merwegas 3,232 81 Enalia Maritime Blackfriars Bridge 5,670 81 MC Shipping Zetagas 6,566 82 Sloman Neptun Happy Harrier 4,038 88 Othello Etagas 8,327 88 Sloman Neptun Happy Girl 4,035 89 Othello Deltagas 3,434 92 Sloman Neptun Gammagas 4,400 92 Sloman Neptun Happy Fellow 4,400 92 Othello Happy Eagle 4,350 93 Othello Happy Lady 7,500 94 Ultragas Alphagas 5,600 96 Sloman Neptun Betagas 5,815 97 Sloman Neptun Jotagas 7,300 97 Sloman Neptun Happy Bee 7,301 97 Ultragas Philine Schulte 8,606 98 B.Schulte Sigmagas 8,606 98 Sloman Neptun Omegagas 3,750 99 Sloman Neptun Happy Bride 6,300 99 Othello Happy Bird 8,606 99 Othello Epsilongas 5,657 2000 Sloman Neptun Kappagas 5,600 2001 Sloman Neptun

2.6 SKANDIGAS

Maersk Tankers Gas Chartering Esplanaden 50 1098 Copenhagen K Denmark Telephone: +45 3363 3363 E-mail: grpcom@maersk.com Web: http://www.maersktankers.com/main

Vessel M³ Blt Owner

LEGAL AND ECONOMIC ANALYSIS OF TRAMP MARITIME SERVICES

Havpil 12,060 77 Berdy Shetland 15,070 81 Ofer Somerset 15,070 81 Ofer Sussex 15,070 81 Ofer Surrey 15,070 82 Ofer Barnes Bridge 15,370 82 MC Shipping Kew Bridge 15,360 83 MC Shipping Stafford 15,070 84 Ofer Suffolk 15,070 84 Ofer Clipper Skagen 15,000 89 Solvang Patagoniagas 15,097 91 Ultragas Maersk Scotland 15,098 91 Apm Maersk Houston 20,700 93 MC Shipping Canaima 20,700 94 AP Møller Henriette Maersk 20,700 94 AP Møller Kurzeme 20,726 97 Latvian Vidzeme 20,726 97 Latvian Johan Schulte 16,500 98 B.Schulte Wilhelm Schulte 16,500 98 B.Schulte Maersk Humber 20,500 98 AP Møller Maersk Holyhead 20,500 2000 AP Møller Caribe 20,900 2000 AP Møller Northumberland 15,090 1990 Artic Gas 20,700 1993

2.7 EXMAR

De Gerlachekaai 20 2000 Antwerp Belgium Phone: +32/3/247 56 56 e-mail: chartering@exmar.be

Vessel DWT Year built Flag Touraine ° 39,270 1996 Hong Kong Eupen * 38,961 1999 Luxembourg Berge Odin + 38,501 2005 Norway Libramont * 38,000 2006 Belgium BW Sombeke ° 38,000 2006 Belgium Berge Munin + 37,980 1989 NIS Elversele * 37,511 1996 Luxembourg Eeklo * 37,450 1995 Belgium Havrim + 37,300 1980 NIS Maharshi Mahatreya + 35,693 1991 India Maharshi Bhavatreya + 35,639 1991 Singapore Maharshi Devatreya + 35,639 1990 India

LEGAL AND ECONOMIC ANALYSIS OF TRAMP MARITIME SERVICES

Brussels * 35,454 1997 Belgium Brugge Venture ° 35,418 1997 Hong Kong Berge Hugin + 35,197 2002 NIS Hedda + 35,058 1993 NIS Helga + 35,058 1994 NIS Berlian Ekuator + 35,000 2004 Panama Antwerpen + 35,000 2005 Hong Kong Herakles + 30,455 1982 Norway Donau * 30,207 1985 Belgium Chaconia * 28,070 1990 Belgium Courcheville * 28,006 1989 Belgium

Carli Bay * 25,302 1998 Belgium Gent * 25,005 1985 Belgium Maharshi Dattatreya + 24,131 1983 India Maharshi Shivatreya + 24,131 1983 India Maharshi Labhatreya + 24,047 1982 India Hebris + 24,047 1983 Norway Clipper Sun + 22,191 1978 Norway 981,721

2.8 BW GAS LGC

Bergesen Worldwide Gas ASA Postboks 2800 Solli 0204 Oslo Web: www.bwgas.com E-mail: bwgas@bwgas.com

Name M³ Built Yard Owner BW Hesiod 60,237 2005 Hyundai H.I. BWGas/F. Laeisz BW Herdis 60,216 2004 Hyundai H.I. BWGas/F. Laeisz Clipper Moon 59,460 2003 Kawasaki Solvang Clipper Sky 59,432 2004 Kawasaki Solvang Berge Nantes 59,399 2003 Kawasaki BWGas Berge Nice 59,375 2003 Kawasaki BWGas Gen. Ore TBN 59,200 2008 Hyundai H.I. GOIC Gen. Ore TBN 59,200 2008 Hyundai H.I. GOIC Gen. Ore TBN 59,200 2008 Hyundai H.I. GOIC Solvang TBN 59,200 2008 Hyundai H.I. Solvang Solvang TBN 59,200 2008 Hyundai H.I. Solvang Solvang TBN 59,200 2008 Hyundai H.I. Solvang Helice 57,206 1991 Kvaerner-Govan BWGas Havfrost 57,180 1991 Kvaerner-Govan BWGas

LEGAL AND ECONOMIC ANALYSIS OF TRAMP MARITIME SERVICES

Helios 57,160 1992 Kvaerner-Govan BWGas Havis 57,139 1993 Kvaerner-Govan BWGas Harriette N 57,001 1980 Boelwerf GOIC Hugo N 56,952 1980 Boelwerf GOIC Clipper Posh 56,854 1983 Boelwerf Solvang Hemina 54,226 1979 Thyssen Nordsee BWGas Hekabe 54,226 1977 Thyssen Nordsee BWGas Havdrott 54,226 1978 Thyssen Nordsee BWGas Havkong 54,226 1978 Thyssen Nordsee BWGas Steven N 53,354 1979 CNIM GOIC Clipper Lady 53,317 1979 CNIM Solvang Havgli 52,408 1978 Moss Rosenberg BWGas

3. BULK POOLS

3.1 CTM CAPESIZE1

C Transport Maritime SAM Commercial@ctmmc.com Telephone: + 377 97 98 59 00

Name Built DWT Kyla 1982 134,828 Venetico Breeze 1990 134,982 Spartounta Breeze 1989 135,071 Yiosonas 1992 135,364 Bulk Leher 1992 149,532 Erradale 1994 163,554 Carpe Diem I 1985 170,001 Bulk Australia 2003 170,578 Bulk Africa 2002 170,578 Bulk Asia 2001 170,578 Bulk Europe 2001 170,578 1,705,644

3.2 CTM Panamax2

C Transport Maritime SAM Commercial@ctmmc.com Telephone: + 377 97 98 59 00

Name Built DWT Ocean Preface 1993 70,201 Bulk Fern 1998 73,301 Bulk Cedar 1998 73,301 Santa Victoria 2002 75,951 Red Gardenia 2005 76,001 Red Jasmine 2006 76,001

1 For information on ship owners, please contact the pool 2 For information on ship owners, please contact the pool

LEGAL AND ECONOMIC ANALYSIS OF TRAMP MARITIME SERVICES

Federica 2005 76,301 Red Tulip 2003 76,501 George 1984 77,078 Porto Vervo 1983 81,661 674,636

3.3 BAUMARINE PANAMAX POOL3

The Torvald Klaveness Group P.O. Box 182, Skøyen NO-0212 Oslo Norway Telephone: +47 22 52 60 00

Name Owner & T/C Counterparts M/V Achilleas Danaos Shipping Co Ltd. Alexandra I Danaos Shipping Co Ltd. Anastacia C A. M. Nomikos T.M.A. SA Angele N A. M. Nomikos T.M.A. SA Anna Seaarland Shipping Management Anna II Neda Maritime Agency Arabella Seaarland Shipping Management Atlantic Breeze Blenheim Shipping Services Bestore Blenheim Shipping Services Clipper Glory Clipper Denmark A/S Clipper Joy Clipper Denmark A/S Coral Wind BHP Billiton/MS Daphne Klaveness Daytona Cardiff Marine Flecha Cardiff Marine Fortune Ocean Cido Genco Leader Genco Shipping Genco Trader Genco Shipping Giovanni de la Gatta Klaveness Global Challenger Klaveness Halo Cygnus MOL Irini Eurobulk Ltd. Jupiter Applause Orient Marine Lake Seqouia Maritime 24 Kingston Trader Nisshin Lacerta Cardiff Marine Lanikai Cardiff Marine Maritime Christine IMC Medi Taipei Bocimar NV Montrose Seaarland Shipping Management Mostoles Cardiff Marine Myrto Klaveness Navios Galaxy MOL

3 For more information about the ships, please contact Baumarine

LEGAL AND ECONOMIC ANALYSIS OF TRAMP MARITIME SERVICES

Nordems Reederei "NORD" Klaus E. Oldendorff G.m.b.H Nordmoritz Reederei "NORD" Klaus E. Oldendorff G.m.b.H Nordmosel Reederei "NORD" Klaus E. Oldendorff G.m.b.H Orchid Star Nissen Kaiun Co. Ltd. Pacific Breeze Blenheim Shipping Service Panormos Cardiff Marine Pantanassa Tsakos Penda Bulker Eships Pole Klaveness Rialto Seaarland Shipping Management Ruby Crest Marubeni Corporation Sea Epoch Bocimar NV Sea Challenge Christos P. Lemos Shipping S.A Sea Synergy Christos P. Lemos Shipping S.A Sonoma Cardiff Marine Striggla Cardiff Marine Tonga Cardiff Marine Torm Anholt Golden Ocean Torm Anholt II Eurobulk Ltd. Torm Tina Klaveness Toro Cardiff Marine Trans Atlantic Chemikalien Seetransport G.m.b.H Trans Pacific Chemikalien Seetransport G.m.b.H Yasa Team Yasa Shipping Industri & Trading AS Yasa Pioneer Yasa Shipping Industri & Trading AS Yuan Zi Klaveness YM Cultivation Atlas Bulk Shipping

3.4 BULKHANDLING

The Torvald Klaveness Group P.O. Box 182, Skøyen NO-0212 Oslo Norway Telephone: +47 22 52 60 00

Name Owner & T/C Counterparts Vessel Owners & T/C Counterparts Dubai Faith Emarat Maritime LLC Dubai Fortune Emarat Maritime LLC Dubai Freedom Emarat Maritime LLC Ocean Prefect Allocean Port Mouton Ideenkapital Port Victoria Ideenkapital Pos Freedom Klaveness Pos Harmony Klaveness Jorita KC Benarita KC Ocean Bridge KC CMB Tallent KC Stove Transport KC

LEGAL AND ECONOMIC ANALYSIS OF TRAMP MARITIME SERVICES

Tarsus KC Terina KC Grenco Muse KC Grenco Commander KC Solar Europe Sojitz Marine & Engineering Corporation Spar Cetus Spar Shipholding AS Spar Eight Spar Shipholding AS Spar Orion Spar Shipholding AS Spar Scorpio Spar Shipholding AS Spar Grenini Spar Shipholding AS Spar Three Spar Shipholding AS Spar Two Spar Shipholding AS Triton Lark Sumitomo Corporation Carribean Frontier Yamamizu Yasa Kaptan Erbil Yasa Shipping Industry & Trading AS Yasa Ozcan Yasa Shipping Industry & Trading AS

3.5 PACIFIC BASIN HANDYSIZE POOL

Pacific Basin Shipping (HK) Limited 7/F, Hutchison House 10 Harcourt Road Central Hong Kong Telephone: (852) 2233 7000

Pacific Basin control a fleet of 53 vessels, which can be split into the following segments:

Pacific Basin owned fleet Name DWT Mount Rainier 32,815 Mount Adams 28,442 Willow Point 28,492 Hawke Bay 28,460 Tasman Sea 28,456 Captain Corelli 28,378 Champion Bay 32,835 English Bay 32,834 Kiwi Trader 31,879 Pacific Logger 31,877 Prince Rupert 28,685 Gold River 32,972 Castle Peak 28,545 Ocean Falls 27,827 Hawk Inlet 27,802 Mount Cook 27,940 Lake Joy 28,251 Flinders Island 28,587 Yin Xiu 28,730 Oak Harbour 28,760 Amazonia 28,475

LEGAL AND ECONOMIC ANALYSIS OF TRAMP MARITIME SERVICES

621,042

Chartered fleet Name DWT Cape Knox* 28,442 Union Bay* 32,355 Shimianmi Star 28,445 Duncan Bay* 28,414 Port Alice* 31,871 Danny Boy 28,386 Sun Ruby* 32,754 Port Pegasus* 32,773 Timaru Star* 31,893 Cook Strait* 31,894 Great Chance 28,701 Port Kenny* 28,449 Portland Bay* 28,446 Cape Flattery * 28,433 Black Forest * 32,751 Mount Travers* 28,484 Mount Fisher* 28,473 Ocean Exporter* 28,461 Albany Sound* 28,379 Cape York* 28,471 Port Botany * 28,470 Cape Nelson* 28,438 Columbia River* 28,527 Cape Spencer * 28,799 Castle Island* 28,759 Cape Scott* 28,747 Pitt Island * 28,611 Port Pirie * 28,585 Silver Bay * 26,556 Patagonia 27,860 Ocean ID 28,429 Enforcer 26,388 934,444

Managed fleet Name DWT Great Concord 24,159 Great Creation 27,383 Christine O 28,587 Yasmin O 22,051 102,180

LEGAL AND ECONOMIC ANALYSIS OF TRAMP MARITIME SERVICES

3.6 PACIFIC BASIN HANDYMAX

Pacific Basin Shipping (HK) Limited 7/F, Hutchison House 10 Harcourt Road Central Hong Kong Telephone: (852) 2233 7000

Owned fleet Name DWT Pacific Victory 52,394 Pacific Trader 45,578 97,972

Chartered fleet Name DWT Delmar 53,565 Xiamen Sky * 53,605 Xiamen Sea * 53,589 Kestrel I 50,351 211,110

3.7 CSL INTERNATIONAL

152 Conant Street, Beverly, MA 01915 U.S.A. Telephone: (978) 922-1300 www.cslint.com info@cslint.com

Name DWT CSL Trailblazer 26,608 CSL Cabo 31,364 Atlantic Superior 38,510 Ambassador 37,263 Pioneer 37,448 Christoffer Oldendorff 37,959 Ballangen 41,399 Bauta 41,756 Bernhard Oldendorff 43,332 Bahama Spirit 44,389 Balder 47,701 Alice Oldendorf 48,001 Barkald 49,901 CSL Argosy 65,755 CSL Acadian 67,208 CSL Atlas 68,178 Eastern Power 69,808

LEGAL AND ECONOMIC ANALYSIS OF TRAMP MARITIME SERVICES

CSL Spirit 70,018 Harmen Oldendorff 66,188 Sophie Oldendorff 70,034 Sheila Ann 70,037 Nelvana 74,974 Yeoman Brook 77,549 1,225,380

3.8 JJ UGLAND

Ugland Marine Services AS P.O. Box 128 N-4891 Grimstad Norway Tel.: +47 37 29 26 00 Fax: +47 37 04 47 22 Web: www.jjuc.no E-mail: jjuc@jjuc.no

Name Owner & T/C Counterparts DWT

M/V JORITA Ugland 36,726 M/V BENARITA Ugland 40,688 M/V ELLENITA Ugland 42,838 M/V LIVANITA Ugland 45,426 M/V OCEAN BRIDGE

Diamond Camelia S.A 45,766

M/V AMORITA EOS Maritime S.A 46,667 M/V UMIAK 1 Ugland 31,992 M/V FAVORITA Ugland 52,220 M/V TAMARITA Grimstad Shipping S.A. 52,292 M/V ROSITA Ugland 52,338 M/V FERMITA Ugland 52,380 499,333

3.9 IMC TRANSOCEAN GRABBULK POOL

IMC Group 5 Temasek Boulevard #12-01 Suntec Tower 5 Singapore 038985 Telephone: (65) 6336 2233 http://www.imcshipping.com biz@imcpaa.com

Name DWT Maritime Alliance 36639 Maritime Lapis 42025 Selendang Intan 46395 Selendang Nilam 46935 Maritime Talent 47574

LEGAL AND ECONOMIC ANALYSIS OF TRAMP MARITIME SERVICES

Maritime Skill 47574 Maritime Diamond 47574 Maritime Cuate 50244 Lake Tega 50271 Maritime Jeongam 50316 Maritime Antalya 52454 Maritime Setoshio 55765 Maritime Newanda 55820 629586

3.10 IMC TRANSWORLD

IMC Group 5 Temasek Boulevard #12-01 Suntec Tower 5 Singapore 038985 Telephone: (65) 6336 2233 http://www.imcshipping.com biz@imcpaa.com

Name DWT Maritime Putian 73652 Selendang Tiara 72978 Jia Ho 71678 Maritime Queen 73350 Maritime King 73350 Maritime Wisdom 73350 Maritime Dignity 73350 Maritime Light 71037 582745

3.11 IMC TRANSASIA

IMC Group 5 Temasek Boulevard #12-01 Suntec Tower 5 Singapore 038985 Telephone: (65) 6336 2233 http://www.imcshipping.com biz@imcpaa.com

Name DWT Maritime Faith 19,610 Maritime Songkhla 23,936 Maritime Chiangmai 24,005 Maritime Valour 25,425 Maritime Trader 25,486 Maritime Master 26,320 Maritime Peace 26,384 Selendang Mayang 28,390

LEGAL AND ECONOMIC ANALYSIS OF TRAMP MARITIME SERVICES

Selendang Kasa 28,409 Maritime Friendship 29,135 Maritime Sirinant 32,309 289,409

3.12 LB/IVS

Lauritzen Bulkers A/S 60 Amager Strandvej P.O. Box 2147 1291 Copenhagen K Denmark Phone: +45 33 96 80 00

1. In this section we present the vessels owned by the two largest operators. We present the

name of the vessels and the DWT. For further information, please contact the shipowner. The contact details are shown below.

3.12.1 Lauritzen Owned Vessels

Name DWT Ace Bulker 28,498 Baltic Bulker 28,754 Bass Bulker 27,761 Bianco Bulker 33,733 Genco Explorer 29,952 Genco Pioneer 29,952 Genco Progress 29,952 Genco Reliance 26,563 Genco Sugar 29,952 ID Bulker 26,971 Idas Bulker 26,971 Ingrid Bulker 28,712 Nordic Bulker 28,458 Ocean Bulker 28,492 Orient Bulker 32,776 Pacific Bulker 27,865 Qatar Star 26,455 Scan Bulker 27,308 Sendai Bulker 28,378 Spar Topaz 38,455 Tilda Bulker 28,481 Victoria Bulker 28,711 Wave Bulker 27,308 670,458

3.12.2 IVS Vessels

Name DWT Bumbi 29,871

LEGAL AND ECONOMIC ANALYSIS OF TRAMP MARITIME SERVICES

Durban Bulker 32,401 IVS Hunter 31,812 IVS Kanada 32,401 IVS Kawana 32,401 IVS Kenso 32,401 IVS Kestrel 32,537 IVS Kingfisher 28,424 IVS Kite 32,556 IVS Kwaito 32,401 IVS Kwela 32,601 IVS Lavender 29,601 IVS Nightingdale 32,001 IVS Nightjar 32,316 IVS Swift 32,409 Lauretta 29,871 Paola 32,564 538,568

Note:

1. Lauritzen Cool: A 2005 partnership agreement between LauritzenCool, J. Lauritzen’s reefer transport company, and NYK Reefers produced NYKLauritzenCool, which is today one of the world’s largest reefer operators. It is not a pool.

2. Omi Gemini Tanker Pool: Mo information was found. There is no shipowning company named Gemini, however there are some tankers named Gemini owned by Pacific Star. According to shipbrokers the consultants have spoken to, this has never been a pool.

3. Clipper Bulk: Clipper Bulk operates approximately 150 bulk carriers from Handysize over Handymax to Panamax, with main focus on the Handysize segment. Bulk cargo services operate both on a contract and spot basis with cargoes ranging from dry bulk products comprising grain, petroleum coke, cement, fertilizer, coal , chemical products and mineral products through break bulk products comprising bagged/unitised agricultural and forest products, steel products and pipes, alumna products, to heavy lift cargoes.