LINER BILL OF LADING (Altered*)

(Liner terms approved by the Baltic and International Maritime Conference)

Code Name: "Conlinebill*"

Amended January 1, 1950, August 1952, January 1, 1973, August 1, 1976, January 1, 1979

1. Definitions. Wherever the term A Merchant@ is used in this Bill of Lading, it shall be deemed to include the Shipper, the Receiver, the Consignee, the Holder of the Bill of Lading and the Owner of the cargo and all those with present or future interest in the goods. "Package" includes containers, trailers, platforms, flatracks, vans, pallets, pieces bags, vehicles, or any other articles of transport and functional package units. "Carrier" means the company named at the top of the face of this Bill of Lading, and in so far as the carriage by sea is concerned, the registered or disponent owners of the vessel.

2. General Paramount Clause. The Hague Rules contained in the International Convention for the Unification of certain rules relating to Bills of Lading, dated Brussels the 25^th August 1924 as enacted in the country of shipment shall apply to this contract. When no such enactment is in force in the country of shipment, the corresponding legislation of the country of destination shall apply, but in respect of shipments to which no such enactments are compulsorily applicable, the terms of the said Convention shall apply save that the limitation for the purposes of Article IV of the Hague Rules shall be 100 British pounds sterling.

Trades where Hague-Visby Rules apply.

In trades where the International Brussels Convention 1924 as amended by the Protocol signed at Brussels on February 23^rd 1968 -The Hague-Visby Rules- apply compulsorily, the provisions of the respective legislation shall be considered incorporated in this Bill of Lading. The Carrier takes all reservations possible under such applicable legislation, relating to the period before loading and after discharging and while the goods are in the charge of another Carrier, and to deck cargo and live animals.

Save where the Hague or Hague-Visby Rules apply as per above, this Bill of Lading shall take effect subject to any national law in force at the port of loading making the Hamburg Rules compulsorily applicable to this Bill of Lading in which case this Bill of Lading shall have effect subject to the Hamburg Rules which shall nullify any stipulation derogating there from to the detriment of the shipper or consignee

Trades to or from the United States

The above notwithstanding, if the carriage is to or from the Untied States the U.S. Carriage of goods by Sea Act, 1936 shall apply.

3. Jurisdiction. Any dispute arising under or in connection with this Bill of Lading, whether in contract or tort, shall be referred to final and binding arbitration in Houston, Texas under the Rules of the Houston Maritime Arbitrators Association. The law of the country of the carrier named at the top of the face of this Bill of Lading shall apply except as provided elsewhere herein.

4. Period of Responsibility. The Carrier or his Agent shall not be liable for loss of or damage to the goods during the period before loading and after discharge from the vessel, however such loss or damage arises. Nevertheless, the terms and conditions of this Bill of Lading shall apply at all times that the goods are in the possession or custody of the Carrier or its agents, servants, or contractors including any joint service connecting carrier.

5. The Scope of Voyage. As the vessel is engaged in liner service the intended voyage shall not be limited to the direct route but shall be deemed to include any proceeding or returning to or stopping or slowing down at or off any ports or places for any reasonable purpose conceited to the service including maintenance of vessel and crew.

6. Substitution of Vessel, Transshipment and Forwarding. The Carrier shall be entitled to subcontract on any terms the whole or any part of the carriage, loading, unloading, storing, warehousing, handling and any and all duties whatsoever undertaken by the Carrier. Whether expressly arranged beforehand or otherwise, the Carrier shall be at liberty to carry the goods to their port of destination by the said or other vessel or vessels either belonging to the Carrier or others, or by other means of transport, proceeding either directly or indirectly to such port and to carry the goods or part of them beyond their port of destination, and to transship, land and store the goods either on shore or afloat and reship and forward the same at Carrier=s expense but at Merchant=s risk. When the ultimate destination at which the Carrier may have engaged to deliver the goods is other than the vessel=s port of discharge, the Carrier acts as Forwarding Agent only. The responsibility of the Carrier shall be limited to the part of the transport performed by him on vessels under his management and no claim will be acknowledged by the Carrier for damage or loss arising during any other part of the transport even though the freight for the whole transport has been collected by him.

7. Lighterage. Any lightering in or off ports of loading or ports of discharge to be for the account of the Merchant.

8. Loading, Discharging and Delivery of the cargo shall be arranged by the Carriers Agent unless otherwise agreed. Landing, storing and delivery shall be for the Merchants account. Loading and discharging may commence without previous notice.

The Merchant or his Assign shall tender the goods when the vessel is ready to load and as fast as the vessel can receive and -but only if required by the Carrier - also outside ordinary working hours notwithstanding any custom of the port. Otherwise the Carrier shall be relieved of any obligation to load such cargo and the vessel may leave the port without further notice and dead freight is to be paid. The Merchant or his Assign shall take delivery of the goods and continue to receive the goods as fast as the vessel can deliver and-but only if required by the Carrier - also outside ordinary working hours notwithstanding any custom of the port Otherwise demurrage is to be paid and/or the Carrier shall be at liberty to discharge the goods and any discharge to be deemed a true fulfillment of the contract, or alternatively to act under Clause 16.

The Merchant shall bear all overtime charges in connection with tendering and taking delivery of the goods as above. If the goods are not applied for within a reasonable time, the Carrier may sell the same privately or by auction. The Merchant shall accept his reasonably proportion of unidentified loose cargo. In no case shall the Merchant have the right to abandon the goods to the Carrier for any reason.

9. Live Animals and Deck Cargo shall be carried subject to the Hague Rules as referred to in Clause 2 hereof with the exception that notwithstanding anything contained in Clause 19 the Carrier shall not be liable for any loss or damage resulting from any act, neglect or default of his servants in the management of such animals and deck cargo.

10. Options. The port of discharge for optional cargo must be declared to the vessels Agents at the first of the optional ports not later than 48 hours before the vessels arrival there. In the absence of such declaration the Carrier may elect to discharge at the first or any other optional port and the contract of carnage shall then be considered as having been fulfilled. Any option can be exercised for the total quantity under this Bill of Lading only.

11. Freight and Charges.

(a) All freight and other charges whether actually paid or not, shall be considered as fully earned prorata upon receipt of the goods by the Carrier and shall be paid in any event, without reduction or offset of any kind, vessel or cargo damaged, lost, or not, and is discountless and nonreturnable in any event. The Carriers claim for any charges under this contract shall be considered definitely payable in like manner as soon as the charges have been incurred. The Merchant shall remain liable for freight and charges, dead freight, demurrage, wharfage, terminal handling charges both ends, dues, duties, and taxes. Interest a 12 per cent per annum, shall run from the date when freight and charges are due until paid. Freight and other charges is due on signing/prior releasing of this Bill of Lading. All cargo to be measured at the extremes for purpose of calculating cargo cubic. Carriers surveyor may measure and/or weigh cargo to determine measurement and weight. Carriers measure and weight to be used for calculation of freight and other charges.

(b) The Merchant shall be liable for expenses of fumigation and of gathering and sorting loose cargo and of weighing onboard and expenses incurred in repairing damage to and replacing of packing due to excepted causes and for all expenses caused by extra handling of the cargo for any of the aforementioned reasons.

(c) Any dues, duties, taxes and charges which under any denomination may be levied on any basis such as amount of freight, weight of cargo or tonnage of the vessel shall be paid by the Merchant.

(d) The Merchant shall be liable for all fines and/or losses which the Carrier, vessel or cargo may incur through nonobservance of Custom House and/or import or export regulations.

(e) The Carrier is entitled in case of incorrect declamation of contents, weights, measurements or value of the goods to claim double the amount of freight which would have been due if such declaration had been correctly given. For the purpose of ascertaining the actual facts, the Carrier reserves the right to obtain from the merchant the original invoice and to have the contents inspected and the weight, measurement or value verified.

(f) In any referral for collection or action against the Merchant for monies due to Carrier, the Merchant shall pay the expenses of collection including arbitration and reasonable attorneys fees, costs, and expenses.

12. Lien. The Carrier shall have a lien for any amount due under this contract and costs of recovering same and shall be entitled to sell the goods privately or by auction to cover any claims.

13. Delay/Damage. The Carrier shall not be responsible for any loss sustained by the Merchant throughout the delay of the goods unless caused by the Carriers personal gross negligence. Any compensation for liability shall be calculated on the cost of the goods at time and place accepted by the Carrier. Carrier to have the option of replacing or repairing damaged cargo. The Carrier does not undertake that the cargo will be loaded or transported or will arrive be discharged at any particular date or time. Without waiver of any limitation of liability available, in no event shall the Carrier be liable for consequential, incidental, special, or punitive damages in connection with any loss, damage, delay, or transportation of the cargo. The Carrier and the vessel shall be discharged unless notice is given of any apparent damage to the cargo within three (3) days of discharge thereof and unless claim is made and proceedings instituted within one (1) year after delivery of the cargo or the date the cargo when the cargo should have been delivered. All defenses, limitations, and limitations of liability shall apply regardless of whether the action be founded in contract or in tort.

14. General Average and Salvage. General Average to be adjusted at any port or place at Carriers option and to be settled according to the York Antwerp Rules 1994. In the event of accident, danger, damage or disaster before or after commencement of the voyage resulting from any cause whatsoever, whether due to negligence or not, for which or for the consequence of which the Carrier is not responsible by statute, contract or otherwise, the Merchant shall contribute with the Carrier in General Average to the payment of any sacrifice, losses or expenses of a General Average nature that may be made or incurred, and shall pay salvage and special charges incurred in respect to the goods if a salving vessel is owned or operated by the Carrier, salvage shall be paid for as fully as if the salving vessel or vessels belonged to strangers.

15. Both-to-Blame Collision Clause. (This clause to remain in effect even if unenforceable in the Courts of the United States of America) If the vessel comes into collision with another vessel as a result of the negligence of the other vessel and any act, negligence or default of the Master, Mariner, Pilot or the servants of the Carrier in the navigation or in the management of the vessel, the merchant will indemnify the Carrier against all loss or liability to the other or non-carrying vessel or her Owners in so far as such loss or liability represents loss of, or damage to or any claim whatsoever of the owner of the said goods, paid or payable by the other or non-carrying vessel or her Owners to the owner of said cargo and setoff, or recouped or recovered by the other or non-carrying vessel or her Owner as part of his claim against the carrying vessel or Carrier. The foregoing provisions shall also apply where the Owner, operator or those in charge of any vessel or vessels or objects other than ,or in addition to, the colliding vessels or objects are at fault in respect to a collision or contact.

16. Government directions, War, Epidemics, Ice, Strikes, etc.

(a) The Master and the Carrier shall have liberty to comply with any order or directions or recommendations in connection with the transport under this contract given by any Government or Authority, or anybody acting or purporting to act on behalf of such government or Authority, or having under the terms of the Insurance on the vessel the right to give such orders or directions or recommendations.

(b) Should it appear that the performance of the transport would expose the vessel or any goods onboard to risk or seizure or damage or delay, resulting from war, warlike operations, blockage, riots, civil commotions or privacy, or any person onboard to the risk of loss of life or freedom, or than any such risk has increased, the Master may discharge the Cargo at port of loading or any other safe and convenient port.

(c) Should it appear that epidemics, quarantine, ice-labor troubles, labor obstructions, strikes, lockouts, any of which onboard or on shore- difficulties in loading or discharging would prevent the vessel from leaving the port of loading or reaching or entering the port of discharge or there discharging in the usual manner and leaving again, all of which safely and without delay, the Master may discharge the cargo at port of loading or any other safe and convenient port.

(d) The discharge under the provisions of this clause of any cargo for which a Bill of Lading has been issued shall be deemed due fulfillment of the contract. If in connection with the exercise of any liberty under this clause any extra expenses are incurred, they shall be paid by the Merchant in addition to the freight, together with return freight if any and a reasonable compensation for any extra services rendered to the goods.

(e) If any situation referred to in this clause may be anticipated, or if for any such reason the vessel cannot safely and without delay reach or enter the loading port or must undergo repairs, the Carrier may cancel the contract before the Bill of Lading is issued.

(f)The Merchant shall be informed if possible.

17. Identity of Carrier. The registered or disponent owner of the vessel named herein (or substitute) only shall be liable for any damage or loss due to any breach or non-performance of any obligation arising out of the contract of carriage, whether or not relating to the vessels seaworthiness. If, despite the foregoing, it is adjudged that any other is the Carrier and/or bailee of the goods shipped hereunder, all limitations of, and exonerations from liability provided for by law or by this Bill of Lading shall be available to such other.

It is further understood and agreed that as the Line, Company, or Agents who has executed this Bill of Lading for and on behalf of the Master is not a principal in the transaction, said Line, Company or Agents shall not be under any liability arising out of the contract of carriage, nor as Carrier nor bailee of the goods.

18. Exemptions and Immunities of all servants and agents of the Carrier. It is hereby expressly agreed that no servant or agent of the Carrier (Including every independent contractor from time to time employed by the Carrier and all stevedores, terminals, agents, and the managers of the vessel) shall in any circumstances whatsoever be under any liability whatsoever to the Merchant for any loss damage or delay arising or resulting directly or indirectly from any act, neglect or default on his part while acting in the course of or in connection with his employment and, but without prejudice to the generality of the foregoing provisions in this clause, every exemption, limitation, condition and liberty herein contained and every right, exemption from liability, defense and immunity of whatsoever nature applicable to the Carrier or to which the Carrier is entitled hereunder shall also be available and shall extend to protect every such servant or agent of the Carrier acting as aforesaid and for the purpose of all the foregoing provisions of the clause the Carrier is or shall be deemed to be acting as agent or trustee on behalf of and for the benefit of all persons who are or might be his servants or agents from time to time (including independent contractors as aforesaid) and all such persons shall to this extent be or be deemed to be parties of the contract evidenced by this Bill of Lading. The provisions of Clause 3 above shall be applicable in any claim against any of said servants or agents. The Carrier shall be entitled to be paid by the Merchant on demand any sum recovered or recoverable by the Merchant or from any other such servant or agent of the Carrier for any such loss, damage or delay or otherwise.

19. Optional Stowage, Unitization, Containers.

(a) Goods may be stowed by the Carrier as received, or, at Carrier=s option, by means of container, or similar articles of transport used to consolidate goods. Cargo may be carried on or under deck and restowed on or under deck regardless of whether done after this Bill of Lading is issued without prior notice to the Merchant and without the same being considered a deviation. (b) Containers, trailers and transportable tanks, whether stowed by the Carrier or received by him in a stowed condition from the Merchant, may be carried on or under deck without notice to the Merchant.

(c) The Carriers liability for cargo stowed as aforesaid shall be governed by the Hague Rules as defined above notwithstanding the fact that the goods are being carried on deck and the goods shall contribute to general average and shall receive compensation in general average.

20. Package Limitation. In the event of any loss or damage to Goods exceeding in actual value of US$500 lawful money of the Untied States per package, or in case of Goods not shipped in packages, per customary freight until, the value of Goods shall be deemed to be US$500 per package or per customary freight units, as the case may be, and Carriers liability, if any, shall be determined on the basis of US$500 per package or per customary freight until, unless the nature of Goods and a higher value has been declared by Shipper, in writing before shipment, and inserted in this Bill of Lading, and extra freight paid thereon if required. Where a container is stuffed by the Shipper or on its behalf and the container is sealed when received, Carriers liability shall be limited to US$500 with respect to the contents of each such container unless the preceding declaration is made, inserted on this Bill of Lading, and extra freight paid thereon if required.

In the event of a higher value being declared by Shipper, in writing and inserted in this Bill of Lading with extra freight paid thereon in accordance with Carriers tariff, Carriers liability, if any, for loss or damaged in connection with Goods shall be determined on the basis of such declared value, and pro rata of such declared value in case of partial loss or damage, provided such declared value does not exceed the actual value of Goods.

Additional Clauses

A. Demurrage. The Carrier shall be paid demurrage at the rate specified in the Other Terms and Conditions block on the face of this Bill of Lading, but if no rate is filled in then $8,000 per day or pro rata, if the vessel is not loaded or discharged with the dispatch set out in Clause 8, any delay in awaiting for berth at or off port to count. Provided that if the delay is due to causes beyond the control of the Merchant, 24 hours shall be deducted from the time on demurrage.

Each Merchant shall be liable towards the Carrier for a proportionate part of the total demurrage due, based upon the total freight on the goods to be loaded or discharged at the port in question.

No merchant shall be liable in demurrage for any delay arising only in connection with goods belonging to other Merchants. The demurrage in respect of each parcel shall not exceed its freight.

B. US Trade. Period of Responsibility. In case the Contract evidenced by this Bill of Lading is subject to the US Carriage of Goods by Sea Act, then the provisions stated in said Act shall govern before loading and after discharge and throughout the entire time the goods are in the Carriers custody.

C. Particular Cargos. The Carrier specifically reserves all defenses, rights and immunities to which it is entitled by Article 4, section 2 of the Hague Rules and other similar legislation if the goods have been unpacked, or packed in bales or trusses which are not cross hooped, in single hessian, jute, or cotton bags, in secondhand packages, in paper or cardboard cartons, or in any other insubstantial packaging which requires handling beyond due diligence, whether or not such packaging is customary in that particular trade and whether or not the goods have been described herein as being in apparent good order and condition. Paper in reels shipped unprotected shall be deemed to be insufficiently packed and cutting, gouging, core damage shall be deemed to be the result of inherent vice of the goods. Merchant warrants that an allowance of 2.5 cm of cuts, dents, gouges or pressure marks shall be deducted from damages claimed. Pipe with beveled ends shipped without end protectors shall be deemed to be insufficiently packed and the Carrier shall not be liable or responsible for damages to the beveled ends. It is agreed that superficial rust, oxidation or any like condition due to moisture, is not a condition of damage but is inherent to the nature of the goods and acknowledgment of receipt of the goods in apparent good order and condition is not a representation that such conditions of rust, oxidation or the like did not exist upon receipt. The Merchant must declare in writing before delivery of the goods to the Carrier: the weight of a single piece or package exceeding 51,000 kilos gross, which must be marked clearly and durably on the outside of the piece or package in letters and figures not less than two inches high, and for pieces or packages awkward for handling in normal loading operations weight, dimensions must be provided in writing with center of gravity clearly marked if required, or lifting points clearly marked if required. In case Merchant fails in his obligations to properly notify Carrier of heavy or awkward pieces or packages the Carrier shall not be responsible for any loss or damage to or in connection with the goods, and at the same time Merchant shall be liable for any loss of, or damage to any property or personal injury arising as a result of the Merchants said failure and shall indemnify the Carrier against any kind of loss or liability suffered or incurred by the Carrier as a result of such failure. Goods of a flammable, explosive, corrosive, radioactive, noxious, hazardous, unstable or dangerous nature, shipped without full disclosure in writing to the Carrier as to their nature and character, may at any time before discharge be landed at any place, thrown overboard, destroyed or rendered innocuous without liability on the part of the Carrier or other Merchants and even if such disclosure be made the Carrier may without incurring any liability make the same disposition of such Goods, if in the opinion of the Carrier they shall be or become dangerous or noxious to the Vessel or cargo or to persons. The Merchant shall indemnify and hold harmless the Carrier for all losses, damages, liabilities, fines, civil and criminal penalties and expenses (including attorneys fees) suffered by the Carrier caused in whole or in part by omission of full disclosure required by this paragraph or by applicable law or regulations. Unless otherwise specified, hazardous cargo is subject to a surcharge.

D. Containers. The Carrier does not represent to be accurate and is not bound by any description of the value, quantity, weight condition, or existence of the contents of any containers (including any vans, trailers, portable tanks, skids, palletized units, and other cargo units) furnished or stuffed by or on behalf of Merchant or identified in this Bill of Lading by use of the phrase "said to contain" or otherwise, and shall not be liable for any difference in value, quantity, weight or condition of the cargo furnished by or on behalf of the Merchant and that of the cargo actually delivered. The Carrier shall have no responsibility or liability whatsoever for the packing, loading, securing, shoring and/or stowage of contents of such cargo units, or for loss or damage caused thereby or resulting there from. The Merchant with respect to cargo units not packed or loaded by Carrier, represents and warrants (a) that the cargo is properly described, marked, secured, and packed in their respective cargo units, (b) that any cargo units other than Carrier furnished units are physically suitable, sound and structurally adequate properly to contain and support the cargo during handling and on the voyage, and that such cargo units may be handled in the usual and customary manner without damage to themselves or to their contents, or to the Vessel or its other cargo, or property, or person, (c) that all particulars with regard to the cargo units and their contents and the weight of each said cargo unit are in all respects correct, and (d) that such units are in compliance with all applicable government regulations. The Merchant shall assume full responsibility for and shall indemnify Carrier against any loss or damage to the Carriers container and other equipment, and damage to property, including contents of container, or personal injury caused by Carriers container or the contents thereof, and other equipment, which occurs while in possession or control of the Merchant or his agents or subcontractors or any person or entity acting on Merchants behalf.

*This Conlinebill has been altered for clarification purposes where italicized.