China Marine Industries Corporation

RE :  NEWBUILDING OF 397-TEU CONTAINER VESSEL FROM CHINA
========================================================

1.  BRIEF SPECIFICATION
        
        LOA                                ABT.    105.95 M
        LBP                                         96.30 M
        BREADTH MOULDED                             17.50 M
        DEPTH MOULDED TO UPPER DECK                  9.00 M
        DRAFT FULL SCANTLING                         6.90 M
        DEADWEIGHT ON DRAFT 6.90M          ABT.    6,400 MT
        CAPACITY     GRAIN/BALE               265,000 CBF / 255,000 CBF
        CONTAINERS  (APPROX.)
        - IN HOLDS                                  145 TEU   
        - ON DECK                                   252 TEU
        TOTAL                                       397 TEU
        FOR A HOMOGENOUS LOAD OF 14T, CAPACITY:    ABT  270 TEU   
        MAIN ENGINE: MAN B&W 6L35MC, MCR  3,900 KW X 210 RPM
        PROPELLER:     FIXED PITCH
        SERVICE SPEED AT A DRAFT OF 6.90M, 90% MCR-      ABT   15.0 KTS
        CRANES                                             40 MT X 2 SETS
        BOW THRUSTER                                      300 KW X 1 SET
        REEFER PLUGS    40
        CLASS           LR

2. PRICE: TO BE QUOTED FOR SERIOUS NAMED BUYERS
        
3. TERMS OF PAYMENT
        10% UPON SIGNING OF THE CONTRACT
        15% UPON STEEL CUTTING FOR THE VESSEL
        15% UPON KEEL LAYING FOR THE VESSEL
        15% UPON LAUCHING OF THE VESSEL
        45% UPON DELIVERY OF THE VESSEL

4. SECURITY FOR PAYMENT OF INSTALMENT BEFORE DELIVERY
   THE BUYER SHALL PROVIDE THE SELLER WITH A LETTER OF GUARANTEE ISSUED
   BY A BANK ACCEPTABLE TO THE BANK OF CHINA AND THE SELLER FOR EACH 
   VESSEL. THE LETTER OF GUARANTEE SHALL GUARANTEE THE BUYER OBLIGATIONS 
   FOR THE PAYMENT OF 2ND AND 3RD INSTALMENT OF THE CONTRACT PRICE AND BE 
   DELIVERED TO SELLER CONCURRENTLY WITH THE SHIPBUILDING CONTRACT BECOMING 
   EFFECTIVE.

5. REFUND GUARANTEE
   THE SELLER SHALL, UPON THE SHIPBUILDING CONTRACT BECOMING EFFECTIVE,
   PROVIDE THE BUYER WITH A LETTER OF GUARANTEE ISSUED BY A BANK ACCEPTABLE 
   TO THE BUYER, SECURING THE SELLER OBLIGATION FOR REFUNDING TO THE BUYER 
   THE INSTALMENT RECEIVED BY THE SELLER THROUGH BANK, IF AND WHEN 
   ANY SUCH INSTALMENT BECOMES REFUDABLE TO THE BUYER IN ACCORDANCE WITH 
   THE TERMS OF THE SHIPBUILDING CONTRACT.  

6. DELIVERY: TO BE MUTUALLY AGREED    
    
7. PACE OF DELIVERY: EX SHIPYARD, P.R.CHINA

8. SUBJECTS:
   SUBJECT TO ALL THE TERMS AND CONDITIONS OF THE FINAL SPECIFICATION AND
   CONTRACT. 

PLEASE FEEL FREE TO CONTACT US IF YOU HAVE ENQUIRIES.

BEST REGARDS
LUM, MENG LIANG

For further details, please email to: Lum@ChinaMarineCorp.com

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China Marine Industries Corp. 
 Address: 28C, 8 Taikoo Shing Rd., Taikoo Shing, Hong Kong
     Tel: (852) 2568-1019
   Email: Lum@ChinaMarineCorp.com
Homepage: http://www.ChinaMarineCorp.com