WOOHYUN SHIPPING CO LTD TABLE OF CONTENTS PAGE

WOOHYUN SHIPPING CO. , LTD.

TABLE OF CONTENTS PAGE 1 COVER PAGE 2 TABLE OF CONTENTS PAGE 3 PROFILE PAGE 4 HISTORY PAGE 5 ANNUAL GROSS PAGE 6 CONTACT POINTS PAGE 7 TRAMPER SERVICES PAGE 8 -14 LINER SERVICES PAGE 15 FLEET LIST PAGE 16 -19 HANDY-SUPRAMAX FIXTURE LIST PAGE 20 MAIN ACCOUNT WOOHYUN SHIPPING CO. , LTD

WOOHYUN SHIPPING CO. , LTD PROFILE Company Woohyun Shipping Co. , Ltd. Website www. woohyunshpg. co. kr President Mr. Moon, Ho Sung Capital 1, 000, 000 Korean won ($1, 000 USD) Established May, 2003 Employees Shore Officer : 19, Ship Officer : 43 Main Business General cargo Liner Service, Tramper Business, Chartering Head Office Address 4 th floor, Yuseong Bldg. , 6, Daecheong-ro 155 beon-gil, Jung-gu, Busan, Korea (48941) Seoul Office Rm. 303, Sejongro Daewoo B/D, 30, Saemunan-ro 3 -gil, Jongno-gu, Seoul, Korea (03173) E-mail woohyun@woohyunshpg. co. kr Tel Number Tel) +82 -51 -465 -4505(Rep) Fax) +82 -51 -465 -4506 Tel) +82 -2 -738 -4505(Rep) Fax) +82 -2 -738 -4506

HISTORY WOOHYUN SHIPPING CO. , LTD 2003. 05 - Established Woohyun Shipping Co. , Ltd as ship broker and general ship agent, chartering company 2006. 10 – Opened Seoul office 2007. 01 – Agreement long term exclusive contract with “Ben Nghe” port in Hochiminh, Vientnam Agreement long term exclusive contract with “Haiphong main port” in Haiphong, Vietnam 2007. 07 - Acquired international freight forwarding agency license 2010. 03 – Introduced tonnage 5, 994 GRT “MV Woohyun Queen” 2011. 06 – Introduced tonnage 5, 144 GRT “MV Woohyun Haemil” 2011. 07 – Acquired marine cargo/freight transportation/transport business license 2014. 09 – Introduced tonnage 9, 991 GRT “MV Woohyun Hope”

ANNUAL GROSS 2010 2011 2012 UNIT : MILLION 2013 2014 49. 74 40. 85 41. 73 30. 25 년매출 43. 41 2015 46, 2

CONTACT POINT BUSAN HEAD OFFICE WOOHYUN SHIPPING CO. , LTD SEOUL OFFICE Cargo booking, Supercargo, General agent, Account Cargo booking, Documents, Chartering, Operation Woohyun Shipping Co. , Ltd. 4 th floor, Yuseong Blgd. , 6, Daecheong-ro 155 beon-gil, Jung-gu, Busan, Korea (48941) Woohyun Shipping Co. , Ltd. Rm. 303, Sejongro Daewoo B/D, 30, Saemunan-ro 3 -gil, Jongno-gu, Seoul, Korea (03173) Tel : +82 -51 -465 -4505 Fax : +82 -51 -465 -4506 E-mail : woohyun@woohyunshpg. co. kr Tel : +82 -2 -738 -4505 Fax : +82 -2 -738 -4506 E-mail : woohyun@woohyunshpg. co. kr

TRAMPER SERVICES � � � WOOHYUN SHIPPING CO. , LTD For many years we have built up and maintained long-term stable business with many of clients in the world. We always strive to be creating mutual benefit for both ours and valuable customers. Now, we focus on handy size upto supramax business and ready to meet ever -changing, growing needs of our customers and effectively cope with the largely unexpectable dynamics of the dry bulk and general shipping market. Today, we face drastic shifts in the trend of shipping business for tramper services , due to globalization and toughening of various international tramper business, which reorganized 2001 as Tramper Team to reinforce our company's Far East business. tramper service has distinguished major force of meal, fertilizer, steel product, machinery, forest products, coal, iron ore and other bulk/general commodities Far East/ PG Area. currently operating more or less 10 vessels per every month including owned and long/short term chartered tonnages.

LINER SERVICES � � � WOOHYUN SHIPPING CO. , LTD Woohyun Shipping Co. , Ltd. has been established 2003 with general cargo/multi purpose vessel chartered carriers and major steps to expand our business including owned vessel, which focused mainly on transportation general cargo, project cargo, steel product, vehicles with totaling 1, 000 DWT (120 vessel) operation vessel each year, the company expanded globally, providing services from Korea and North East Asia to South East Asia up to India along with various kinds of goods for transportation. Based on these expertise in the field of general/project cargo business and with teams of experts, we have broadened and expanded our operation and service offerings to virtually all aspects of global cargo service transportation. Woohyun Shipping is Korea representative general cargo carrying company as a multi–modal transport for Vietnam, Thailand, Malaysia, Singapore, Indonesia and India with Ro-Ro type, MPP and Twin Deck vessel by owned and chartered vessel. For 10 years Know-How and experience, we strive to transport heavy cargo, project cargo for demands of our customers. With your support, Woohyun Shipping will continue to pursue development for various demands of customers. TRADING ROUTE KOREA(MAINLY MASAN, BUSAN), JAPAN, RUSSIA(CIS PACIFIC), CHINA, TAIWAN PHILLIPPINES, VIETNAM, THAILAND, MALAYSIA, SINGAPORE, INDONESIA, BANGLADESH MYANMAR, SRI LANKA, INDIA TRADING CARGO STEEL PRODUCT : STEEL COIL, BILLET, SLAB, WIRE ROD, H-BEAM, ROUND-BAR, ETC. GENERAL CARGO : VEHICLES, EXCAVATOR, TRUCK, BUS, SPECIAL PURPOSE VEHICLES, CRANE TRUCK, MACHINERY, CONSTRUCTION STRUCTURE, ETC. GRAIN AND BULK : COAL, IRON ORE, CORN, SOY BEAN MEAL, COPRA EXPELLER, TAPIOCA, PALM KERNEL, ETC.

WOOHYUN SHIPPING CO. , LTD SERVICE PROFILE / WOOHYUN SHIPPING CO. , LTD MASAN BUSAN 1. FLEET LIST 2. SERVICE TRADE -KOREA-VIETNAM SERVICE -KOREA-THAILAND SERVICE -KOREA-INDONESIA SERVICE -KOREA-SINGAPORE-MALAYSIA SERVICE -KOREA-INDIA SERVICE CHITTAGONG MUMBAI HAIPHONG DUNG QUAT YANGON CHENNAI TAIWAN BANGKOK, LAEMCHABANG HOCHIMINH PORT KELANG BELAWAN SINGAPORE JAKARTA SEMARANG SURABAYA MANILA JAPAN

KOREA – VIETNAM SERVICE WOOHYUN SHIPPING CO. , LTD MASAN BUSAN HONGKONG JAPAN TAIWAN HAIPHONG DUNG QUAT HOCHIMINH *KOREA-VIETNAM SERVICE 1)LOADING PORT : BUSAN , MASAN 2)DISCHARGING PORT : HAIPHONG, HOCHIMINH , DUNG QUAT -ALSO CAN ACCEPT HONGKONG, TAIWAN, HUANGPU, BANGOI, NHATRANG CARGO 3)FREQUENCY : 2 SAILINGS/MONTH

KOREA-THAILAND SERVICE WOOHYUN SHIPPING CO. , LTD KOREA MASAN BUSAN HAIPHONG JAPAN TAIWAN DUNG QUAT THAILAND BANGKOK, LAEMCHABANG HOCHIMINH *KOREA-THAILAND SERVICE 1)LOADING PORT : MASAN 2)DISCHARGING PORT : LAEMCHABANG, BANGKOK -ALSO CAN ACCEPT MAPTAPHUT, KOSICHANG CARGO 3)FREQUENCY : 1 SAILING/MONTH

KOREA-INDONESIA SERVICE WOOHYUN SHIPPING CO. , LTD MASAN BUSAN JAPAN TAIWAN HAIPHONG MUMBAI DUNG QUAT CHENNAI BANGKOK, LAEMCHABANG HOCHIMINH PORT KELANG KOTAKINABALU BELAWAN BINTULU SINGAPORE JAKARTA SEMARANG SURABAYA *KOREA-INDONESIA SERVICE 1)LOADING PORT : MASAN 2)DISCHARGING PORT : JAKRTA, SEMARANG, SURABAYA -ALSO CAN ACCEPT SINGAPORE, CIGADING, KOTAKINABALU, BINTULU 3)FREQUENCY : 2 SAILINGS/MONTH

KOREA-SINGAPORE-MALAYSIA SERVICE WOOHYUN SHIPPING CO. , LTD MASAN BUSAN JAPAN TAIWAN HAIPHONG MUMBAI DUNG QUAT CHENNAI BANGKOK, LAEMCHABANG HOCHIMINH PORT KELANG BELAWAN SINGAPORE JAKARTA SEMARANG SURABAYA *KOREA-SINGAPORE-MALAYSIA SERVICE 1)LOADING PORT : MASAN 2)DISCHARGING PORT : SINGAPORE, PORT KELANG -ALSO CAN ACCEPT PARSIRGUDANG, BATAM, LUMUT, BELAWAN CARGO 3)FREQUENCY : 2 SAILINGS/MONTH

KOREA-INDIA SERVICE WOOHYUN SHIPPING CO. , LTD MASAN BUSAN JAPAN TAIWAN HAIPHONG MUMBAI DUNG QUAT CHENNAI BANGKOK, LAEMCHABANG HOCHIMINH PORT KELANG BELAWAN SINGAPORE JAKARTA SEMARANG SURABAYA *KOREA-INDIA SERVICE 1)LOADING PORT : MASAN 2)DISCHARGING PORT : MUMBAI, SINGAPORE, PORT KELANG -ALSO CAN ACCEPT CHENNAI, COLOMBO 3)FREQUENCY : 1 SAILING/MONTH

FLEET LIST WOOHYUN SHIPPING CO. , LTD Owned Fleet MV. WOOHYUN HOPE � KOREA FLAG, KR CLASS, 1997 BUILT, RO-RO(STERN RAMP 40 MT), MPP CARGO VSL, � TWEEN DECKER, BOX TYPE SUMMER DWT 13, 041 MT ON DRAFT 8. 979 M � TROPICAL DWT 13516. 18 MT ON DRAFT 9. 166 M � GT / RT 9991 / 4909 LOA / BM / DEPTH 138 M / 22 M / 13. 5 M � G / B CAPA 19, 161. 26 / 19, 049. 40 CBM 3 H / 3 H FOLDING TYPE � CRANES 61 MTx 2 SETS, CRANES 40 MT x 2 SETS MV WOOHYUN GREEN � � 17, 528. 86 MT DWT ON 10. 00 MTRS, KOREA FLAG, BLT 2011. LOA/BM/DM 131. 90/22. 00/14. 50 MTRS, GRT/NRT 11, 481/5, 850 MTS G/B 23, 110. 6/21, 346. 4 CBM, 3 H/3 H, TWEEN DECKER. DECK CRANE 3 X 30 MTS (2 X 30 MTS – COMBINE 1 X 60 MTS/SWL) PERIOD TONNAGE MV. THAI OCEAN PANAMA FLG; NK CLASS BLT 1996; CALL SIGN: 3 FMJ 6 LOA/BM/DEPTH 128/21. 5/14 M; GRT/NRT/DWT 9999/3974/11281 MT; FULL DRAFT: 7. 624 M; G/B CAPA: 24434/22745 CBM; 2 H/2 H TW DECK; DRRK 25 MT*2 SETS; CRANE 50 MT*2 SETS, COMBINE 90 MT HATCH SIZE: UPPER NO. 1 33. 6*12. 5 M; NO. 2 33. 6*12. 5 M; LOWER NO. 1 30. 8*12. 5 M+2. 8*10 M; NO. 2 33. 6*10. 0 M;

WOOHYUN SHIPPING CO. , LTD FIXTURE LIST for handy to supramax VEREINA 2014 -01 - 27 K 2008 GREEK H/OWS STEEL & G. CGO 24, 500 S. KOR SEASIA OCEAN BREEZE 2014 -02 - 19 K 2010 TWN H/OWS STEEL & G. CGO 17, 500 S. KOR COLOMBO S. KOR INDONESIA S. KOR SEASIA BK CHAMP ZHONG HAI 2014 -032014 -04 - 28 K 45 K 1997 1995 H/OWS BOOKWANG Refined Success Limited(COSCO) STEEL & G. CGO 25, 000 32, 400 ROYAL PESCADORES 2014 -05 - 18 K 1997 Hows ROYAL PESCADORES S. A. STEEL & G. CGO 15, 200 S. KOR SEASIA LAPIS 2014 -06 - 24 K 1997 GREEK H/OWS STEEL & G. CGO 22, 000 S. KOR INDONESIA S. KOR SEASIA S. KOR WCI S. KOR SEASIA S. KOR INDONESIA S. KOR SEASIA PORT KELANG FORTUNE BAY HALANDRIANI ECO VANGUARD BRIGHT LIFE BRAZEN VINASHIP STAR EAST AMBITION PACIFIC MELODY FAIRWIND SEIYO EXPLORER DL LILAC 2014 -072014 -082014 -092014 -102014 -112014 -122014 -132014 -142014 -152014 -162014 -17 - 28 K 23 K 28 K 28 K 24 K 28 K 25 K 33 K 2006 2001 PAC BASIN NS UNITED KAIUN KAISHA, LTD HOWS AEVANGUARD SDN BHD. MALAYSIA STEEL & G. CGO 2011 CARGILL OCEAN TRANSPORTATIN SPORE STEEL & G. CGO 2014 H/ows : Brazen Shippng & Trading S. A STEEL & G. CGO 1996 UNIBULK PTE. LTD. (SINGAPORE) STEEL & G. CGO 2000 SINO EAST TRANPORTATION LTD STEEL & G. CGO 2011 TAIHEIYO KISEN KAISHA, LTD. TOKYO STEEL & G. CGO 2009 TAIHEIYO KISEN KAISHA, LTD. TOKYO STEEL & G. CGO 1996 DAIICHI CHUO KISEN KAISHA STEEL & G. CGO 2012 H/OWS DAELIM CORPORATION STEEL & G. CGO 24, 500 20, 500 24, 500 25, 000 24, 100 22, 000 25, 000 22, 500 24, 800 22, 300 28, 900

WOOHYUN SHIPPING CO. , LTD ORIENT MATE 2015 -01 - 32 K 2014 PAN OCEAN, SEOUL S. KOR STEEL & G. CGO 28, 500 S. KOR INDONESIA JOSCO SUZHOU 2015 -02 - 49 K 2004 BILGENT SHIPPING PTE LTD STEEL & G. CGO 37, 000 S. KOR WCI SUN PRIME 2015 -03 - 30 K 1998 H/OWS SUNACE SHIPPING CO. , LTD STEEL & G. CGO 28, 000 S. KOR SEASIA GLADIATOR 2015 -04 - 28 K 2008 H/OWS FRONT CENTURY MARINE CORP, GREEK STEEL & G. CGO 22, 000 S. KOR WCI KEN TEN 2015 -05 - 24 K 1997 INUI GLOBAL LOGISTICS CO. , LTD STEEL & G. CGO 21, 500 S. KOR SEASIA JPN/S. KOR ECI DL MARIGOLD TAO TREASURE MARTIN ISLAND SEA MELODY CREST NAVIGATOR KOHINOOR JK MARITIME 2015 -062015 -072015 -082015 -092015 -102015 -112015 -12 - 33 K 25 K 32 K 58 K 36 K 32 K 17 K 2012 2014 2012 2010 H/OWS DAELIM CORPORATION AUTHBULK IINO KAIUN KAISHA, JPN H/OWS MOL BULK CARRIERS PTE LTD, JPN MOL BIINO KAIUN KAISHA, LTD, JPN CPM, CHN STEEL & G. CGO STEEL & G. CGO 28, 900 31, 000 32, 000 JPN/S. KOR INDONESIA JPN/S. KOR ECI JPN/S. KOR INDONESIA JPN/S. KOR HCMC JPN/S. KOR SEASIA NAVIOS LYRA 2015 -13 - 34 K 2012 NAVIOS CORPORATION STEEL & G. CGO 28, 000 JPN/S. KOR WCI SIDER DREAM 2015 -14 - 32 K 2012 NOVA MARINE CARRIERS, GREEK H/OWS STEEL & G. CGO 28, 000 JPN/S. KOR WCI

WOOHYUN SHIPPING CO. , LTD TRANS FRIENDSHIP I 2015 -14 - 32 K 2010 MOL BULK CARRIERS PTE LTD, JPN STEEL & G. CGO 29, 000 JPN/S. KOR SEASIA STEEL & G. CGO 28, 500 JPN/S. KOR WCI FERTs AND STEEL 22, 000 JPN/S. KOR ECI SIBAL 2015 -16 - 33 K 2009 SIBAL MARINE LTD - MALTA, H/OWS MAPLE CROWN 2015 -17 - 25 K 2009 MAPLE CROWN MARITIME LIMITED, H/OWS COREWISE OL 2015 -18 - 37 K 2013 COREWISE MARITIME S. A. PANAMA, H/OWS TAIWAN STEEL & G. CGO 32, 000 JPN/S. KOR SEASIA 2015 -19 - 28 K 2011 IINO KAIUN KAISHA, LTD. STEEL & G. CGO 10, 000 TAIWAN GLEAMING OASIS 2015 -20 - 37 K 2007 DAVA PTE LET SPORE STEEL & G. CGO 32, 000 JPN/S. KOR WCI BRIGHT HOPE 2015 -21 - 28 K 2000 DAIICHI CHUO KISEN KAISHA STEEL & G. CGO 24, 000 JPN/S. KOR SEASIAN BEAUTY 2015 -22 - 28 K 2011 DAIICHI CHUO KISEN KAISHA STEEL & G. CGO 22, 000 JPN/S. KOR SEASIA PAOLO U 2015 -23 - 48 K 1997 FRESIAN FORTUNE SHIPPING COMPANY LTD. , VEVIS STEEL & G. CGO 32, 000 CIS/S. KOR SEASIA CS JENNA 2015 -24 - 35 K 2015 DRYBULK INVESTMENT HOLDING SA STEEL & G. CGO 32, 000 JPN/S. KOR WCI GAILLARDIA SW 2015 -25 - 19 K 2015 SHIH WEI NAVIGATION. TWN H/OWS STEEL & G. CGO 15, 000 JPN/S. KOR ECI PACIFIC JASMINE 2015 -26 - 25 K 2010 TAIHEIYO KISEN KAISHA, LTD. TOKYO STEEL & G. CGO 22, 000 JPN/S. KOR SEASIA HU PO HAI 2015 -27 - 40 K 2015 Refined Success Limited(COSCO) STEEL & G. CGO 36, 000 JPN/S. KOR SEASIA LUCKY LIFE 2015 -28 - 28 K 2010 OLDENDORFF CARRIERS, GMBH AND CO KG STEEL & G. CGO 25, 000 JPN/S. KOR ECI STAR LIFE 2015 -29 - 28 K 2011 CARGILL OCEAN TRANSPORTATION (SINGAPORE) STEEL & G. CGO 25, 000 JPN/S. KOR SEASIA PHOENIX ISLAND II SEASIA

WOOHYUN SHIPPING CO. , LTD YANGTZE BRILLANCE AP REVELIN LAN BAO HAI 2016 -012016 -022016 -03 - ATLANTIC FAIRY 2016 -04 - GLADIATOR 2016 -05 - FAIR OCEAN 2016 -06 - 33 K 38 K 39 K 27 K 28 K 33 K 1995 2016 YANGTZE NAVIGATION (HONGKONG) CO. , LTD MARTRADE SHIPPING + TRANSPORT GMBH STEEL & G. CGO 5/7 MONTH PERIOD 2015 Refined Success Limited(COSCO) STEEL & G. CGO 2013 NS UNITED KAIUN KAISHA, LTD STEEL & G. CGO 2008 EVALEND SHIPPING CO S. A. GREEK H/OWS STEEL & G. CGO 2013 DAIICHI CHUO KISEN KAISHA 30, 000 STEEL & G. CGO JPN/S. KOR SEASIA WORLD WIDE 32, 000 18, 000 24, 000 28, 000 JPN/S. KOR WCI JPN/S. KOR SEASIA

MAIN ACCOUNT FOREIGN COMPANY CARGILL OCEAN TRANSPORTATION (SINGAPORE) PTE. LTD Duferco Shipping S. A. , Lugano, Switzerland East Metals Shipping Ag, Zug STEMCOR S. E. A PTE LTD, SINGAPORE NIPPON STEEL JFE STEEL SUMITOMO METAL MARUBENI CORPORATION LOCAL COMPANY POSCO HYUNDAI STEEL, HYUNDAI ENGINEERING & CONSTRUCTION COMPANY SAMSUNG CNT DOOSAN HEAVY INDUSTRIES & CONSTRUCTION DAELIM CORPERATION DAEWOO INTERNATIONAL WOOHYUN SHIPPING CO. , LTD