Sailing Sky on-Hire Survey Report Mundi

6719 078/2014 Vitória (ES), Brazil, September 30th, 2014. ON-HIRE BUNKER AND CONDITION SURVEY REPORT M / V “SAILING SK

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6719 078/2014

Vitória (ES), Brazil, September 30th, 2014.

ON-HIRE BUNKER AND CONDITION SURVEY REPORT M / V “SAILING SKY” IMO 9675767 \

THIS IS TO CERTIFY that the undersigned officially appointed marine surveyor did, by the request of UNIPORT AGÊNCIA MARÍTIMA LTDA., as agents for and on behalf of

Messrs. LOUIS DREYFUS COMMODITIES SERVICES, as Charterers,

attend on board the Singapore flagship: Ship´s Name

: M/V “SAILING SKY”

Call Sign/Letters

:9V2846

Port of Registry

: Singapore

Vessel type

: Bulk Carrier

L.O.A.

: 199.98 M

L.B.P.

: 195.00 M

D.W.T.

: 61,346 MT

Gross Tonnage

: 34,764 MT

on the 30th day of September, 2014, the vessel then moored by port side at TPD3, Tubarão Port, Vitoria, Brazil, for the purpose of carrying out an on-hire bunker and condition survey in order to ascertain the physical condition of vessel’s weather deck and cargo compartments, etc., and to inspect all fuel oil and diesel oil tanks and calculate the quantity of bunker remaining on board at the time vessel was delivered from Messrs. Meadway Shipping and Trading Inc., as owners, to Messrs. Louis Dreyfus Commodities Services, as charterers, at TPD3, port Tubarão, Victória, Brazil, on September 30th, 2014, at 02:00 LT or 05:00 UTC, as per terms, conditions, provisions and exceptions of the governing Charter-Party.

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6719 078/2014

General Notes: All shell frames, brackets, railing sections, etc. are counted and named from fore to aft, unless otherwise specified. The casings, ladder sections, rods of railings, strakes of plating, etc. are counted and named from bottom to top unless otherwise specified. Tank top strakes, corrugations, etc. are counted and named from port to port side, unless otherwise specified. Minor damages such as nicks, cuts and gouges on shell frames / brackets, bulkhead plates, etc. are not enumerated in this report. Slight indents: less than ½” deep Moderate indents: more than ½” and less than 1” deep Heavy indents : more than 1” deep ___________________________________________________________________________ SHIP´S CERTIFICATES

CERTIFICATE International Load Line Certificate Safety Construction Certificate Safety Radio Certificate + Form R Safety Equipment Certificate Safety Management Certificate IOPP Certificate lnternational Air Pollution Certificate Certificate of Classification

ISSUED DATE July 22, 2014 June 11, 2014 June 11, 2014 June 12, 2014 June 11, 2014 June 11, 2014 June 11, 2014 June 11, 2014

EXPIRE DATE June 10, 2019 June 10, 2019 June 10, 2019 June 10, 2019 December 10, 2014 June 10, 2019 June 10, 2019 June 10, 2019

Note: An detailed list of ship´s certificates presented by Capt. Elmer O. Montecillo, master of the ship, can be found attached to this survey report.

See next pages for ascertainments.

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6719 078/2014

ASCERTAINMENTS After a carefully visual inspection of vessel’s installations, equipment, etc., the following was ascertained: HULL PLATING • At the time of the survey, vessel was floating in a calm water at TPS Praia Mole, with fore draft 5.34 M and aft draft 6.64 M. Above this draft, the external hull, port and starboard side was found in good painting condition without mechanical damages.

WEATHER DECK

Fore Castle Deck: • Winches and other fittings in apparent good order; • Fore castle deck plating: no damage noticed.

Main Deck to Port Side: • Guard rails: no damage noticed; • Main deck plating: no damage noticed;

Main Deck to Starboard Side: • Guard rails: no damage noticed; • Main deck plating: no damage noticed; • Grabs: four grabs resting secured on the main deck in apparent order – not tested.

Poop Deck: • Winches and other fittings in apparent good order; • Poop deck plating: no damage noticed.

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6719 078/2014

CARGO COMPARTMENTS HOLD NO. 01: For’d Transverse Flush Bulkhead: • Vertical ladder: no damage noticed; • Flush bulkhead plating: no damage noticed. Aft Transverse Corrugated Bulkhead: • Spiral ladder / guard rails: no damage noticed. • Corrugated bulkhead: no damage noticed. Port side: • Lower and upper hoppers: no damage noticed; • Shell Framing: no damage noticed. Starboard side: • Lower and upper hoppers: no damage noticed; • Shell Framing: no damage noticed. Double Bottom Tank Top: • Tank top plating: no damage noticed. Hatch Coaming: • Hatch coaming: steel plating, hatch coaming trackway, compression bars, etc, without any sign of damage. Hatch Covers: • Folding type panels, rollers, rubber gasket, etc in apparent good order without signs of damage;

HOLD NO. 02: For’d Transverse Corrugated Bulkhead: • Vertical ladder, railings and platfoms: no damage noticed; • Corrugated bulkhead: no damage noticed. Aft Transverse Corrugated Bulkhead: • Spiral Ladder and railing: no damage noticed. • Corrugated bulkhead: no damage noticed. Port side: • Lower and upper hoppers: no damage noticed; • Shell Framing: no damage noticed. Starboard side: • Lower and upper hoppers: no damage noticed; • Shell Framing: no damage noticed. Page 4/9

6719 078/2014

Double Bottom Tank Top: • Tank top plating: no damage noticed. Hatch Coaming: • Hatch coaming: steel plating, hatch coaming trackway, compression compression bars, etc, without any sign of damage. Hatch Covers: • Folding type panels, rollers, rubber gasket, etc in apparent good order without signs of damage;

HOLD NO. 03: For’d Transverse Corrugated Bulkhead: • Vertical ladder, railings and platfoms: no damage noticed; • Corrugated bulkhead: no damage noticed. Aft Transverse Corrugated Bulkhead: • Spiral Ladder and railing: no damage noticed. • Corrugated bulkhead: no damage noticed. Port side: • Lower and upper hoppers: no damage noticed; • Shell Framing: no damage noticed. Starboard side: • Lower and upper hoppers: no damage noticed; • Shell Framing: no damage noticed. Double Bottom Tank Top: • Tank top plating: no damage noticed. Hatch Coaming: • Hatch coaming: steel plating, hatch coaming trackway, compression compression bars, etc, without any sign of damage. Hatch Covers: • Folding type panels, rollers, rubber gasket, etc in apparent good order without signs of damage;

HOLD NO. 04: For’d Transverse Corrugated Bulkhead: • Vertical ladder, railings and platfoms: no damage noticed; • Corrugated bulkhead: no damage noticed.

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6719 078/2014

Aft Transverse Corrugated Bulkhead: • Spiral Ladder and railing: no damage noticed. • Corrugated bulkhead: no damage noticed. Port side: • Lower and upper hoppers: no damage noticed; • Shell Framing: no damage noticed. Starboard side: • Lower and upper hoppers: no damage noticed; • Shell Framing: no damage noticed. Double Bottom Tank Top: • Tank top plating: no damage noticed. Hatch Coaming: • Hatch coaming: steel plating, hatch coaming trackway, compression compression bars, etc, without any sign of damage. Hatch Covers: • Folding type panels, rollers, rubber gasket, etc in apparent good order without signs of damage;

HOLD NO. 05: For’d Transverse Corrugated Bulkhead: • Spiral Ladder and railing: no damage noticed. • Corrugated bulkhead: no damage noticed. Aft Transverse Flush Bulkhead: • Vertical ladder, railings and platfoms: no damage noticed; • Corrugated bulkhead: no damage noticed. Port side: • Lower and upper hoppers: no damage noticed; • Shell Framing: no damage noticed. Starboard side: • Lower and upper hoppers: no damage noticed; • Shell Framing: no damage noticed. Double Bottom Tank Top: • Tank top plating: no damage noticed. Hatch Coaming: • Hatch coaming: steel plating, hatch coaming trackway, compression compression bars, etc, without any sign of damage. Page 6/9

6719 078/2014

Hatch Covers: • Folding type panels, rollers, rubber gasket, etc in apparent good order without signs of damage;

See next page for quantities of heavy fuel, diesel oil on board

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6719 078/2014

DETERMINATION OF QUANTITIES OF HEAVY FUEL AND DIESEL OIL: After having taken temperature and soundings of all bunker tanks, compared same with the tank calibration scales, the required calculations were made together with Mr. Ernesto V. Dee, the vessel’s chief engineer in attendance, and all concerned parties agreed that the bunkers quantity on board the ship at the time she was delivered from Messrs. Meadway Shipping and Trading Inc., as owners, to Messrs. Louis Dreyfus Commodities Services, as charterers, at TPD3, port Tubarão, Vitória, Brazil, on September 30th, 2014, at 02:00 LT, or 05:00 UTC, amount to the following: REMAINING QUANTITY OF BUNKER AT THE TIME OF SURVEY: Day and time of Bunker Survey: September 30th, at 02:00 LT (TPD3, port Tubarão, Vitória, Brazil). Drafts: Fwd: 5.340 M – Aft: 6.64 M (Trim by stern). Sea water temp: 24 oC – E/R Temp: 34 oC HIGHT SULPHUR FUEL OIL

SOUNDING

VOLUME

(Name of Tank)

(m)

(m3)

TEMP. ( OC)

DENSITY (@ 15OC)

VOL. CORREC.

QUANTITY

FACTOR

(MT)

NO. 1 F.O.T. PORT

2.13 M (U)

119,080

42

0,9750

0,9811

113,909

NO. 1 F.O.T. STBD

1.45 M (U)

210,380

24

0,9750

0,9937

203,828

NO. 2 F.O.T. PORT

0.00 M

0,000

24

0,9750

0,0000

0,000

NO. 2 F.O.T. STBD

0.00 M

0,000

24

0,9750

0,0000

0,000

NO. 3 F.O.T. PORT

12.30 M (U)

0,200

29

0,9750

0,9903

0,193

F.O. SETTLING TK

gauge

13,800

74

0,9750

0,9902

13,323

F.O. SERVICE TK

gauge

16,000

95

0,9750

0,9435

14,719

F.O. OVERFLOW TK

gauge

0,000

24

0,9750

0,0000

TOTAL LOW SULPHUR FUEL OIL

SOUNDING

VOLUME

(Name of Tank)

(m)

(m3)

0,000

345,972

TEMP. ( OC)

DENSITY (@ 15OC)

VOL. CORREC.

QUANTITY

FACTOR

(MT)

NO. 3 F.O.T. STBD

0,000

0,000

24

0,0000

0,0000

0,000

L.S.F.O. SERV. TK

0,000

0,000

34

0,0000

0,0000

0,000

L.S.F.O. SETT. TK

0,000

0,000

34

0,0000

0,0000

0,000

TOTAL LOW SULPHUR D.O.

SOUNDING

VOLUME

(Name of Tank)

(m)

(m3)

0,000

TEMP. ( OC)

DENSITY (@ 15OC)

VOL. CORREC.

QUANTITY

FACTOR

(MT)

NO.1 D.O.T.

0,000

0,000

24

0,0000

0,0000

0,000

NO. 1 D.O. SERVICE TANK

0,000

0,000

34

0,0000

0,0000

0,000

TOTAL HIGH SULPHUR D.O.

SOUNDING

VOLUME

(Name of Tank)

(m)

(m3)

TEMP. ( OC)

DENSITY (@ 15OC)

0,000

VOL. CORREC.

QUANTITY

FACTOR

(MT)

NO. 2 D.O.T.

2,310

18,150

34

0,8578

0,9843

NO. 2 D.O. SERVICE TANK

gauge

5,800

34

0,8578

0,9843

TOTAL

15,325 4,897

20,222

Page 8/9

6719 078/2014

CONSIDERED CONSUMPTION FROM TIME OF DELIVERY UP TO TIME OF SURVEY: HIGH SULPHUR F.O.:

1.0 MTON

REMAINING QUANTITY OF BUNKERS ON DELIVERY:

H.S. F.O. : L.S.D.O. :

346.972 MT 0.000 MT

L.S.F.O.: 0.000 MT H.S.D.O.: 20.222 MT

Time log: This full on hire bunker and condition survey was carried out on September 30th, 2014, as from 04:30 hrs up to 09:30 hrs Local Time. The contents of this on-hire survey report - the condition of the weather deck and cargo compartments as well as the quantities of bunkers being on board at time of delivery - are given to the best of our knowledge, true and correct and is issued without prejudice to the rights of whom it may concern.

Marine Surveyor

Attachments: - On Hire Bunker Survey Result - Delivery Certificate - List of Ship´s Certificates - Photographic Report

Page 9/9

M.Y. SAILING SKY

LIST OF SHIP CERTIFICATES

No.

Item

Kind {FlnalllnterlmJ Short Tennl Full Term}

Term

Last & Issue Date

Expiry Date

Cert No .

001

Registry ce rnnca te

PROVISIONAL

1

2014/6/11

201517111

01347·U14

002

Radio Station License

STATUTORY

5year

2014/5/21

2019/4130

SH120210

003

Minimum Safe Manning Certificate

FULL TERM FULL TERM

004

International Tonnage Certificate (1969)

005

Ship Sanitation Control exemption Certificate

008

Shore Based Maintenance Agreement

2014/6/11 2014/5126

6mooth FINAL

007

Continuous Synopsis Record (CSR) NO.1

008

InternationalShip Security Certificate (ISSC).

Interim

5year

201416/9 201416111

YTS 1400018JA 1

2014/1219

21

2019/6110

20S5-4746

20 14/ 12110

IT· 1 4HS~POO56 ISSC

2014/6111

201416111

IM0 9675767

009

Safety Management Certificate (SMC)

Interim

6month

2014/6111

2014112110

IT·14H5-M0046SMI

010

Malitime tabor Convention Certificate (MLC)

Interim

6mooth

2014/6/ 11

201411211 0

IT·14H$-l0023M l C

011

Certificate of Inspectionof Crew Accommodation (CICA)

FINAL

5year

2014/6/11

012

Certificate of Classification

FINAL

5year

201416111

201916/10

KOB 1210006

FINAL

5year

201417122

2019/6/10

KOB1210008lll1 /A 1

2019/6110

KOB 1210006

201916110

KOB 1210006JA1

013

International Load Line Certificate

014

Cargo Ship Safety Construction Certificate (Se )

FINAL

5year

201416111

015

Cargo Ship Safety Equipment Certificate (SE)

FINAL

5year

201416/12

KOB 1210008

016

Exemption Certificate ( Hold ExtinguishingSystem )

FINAL

5year

201416112

201916110

KOB 1210008

017

International Maritime Solid Bulk Cargoes (IMSBC) Code

FINAL

5year

201416/11

201916110

KOB 1210008

018

Cargo Sh;p Safety Radio Certifi