Terms and Conditions

Marine Petrobulk shall be deemed to have accepted the nominated quote for
the bunkering of a vessel
( the nomination ) when it delivers its price quotation to the buyer in
writing and the quotation shall not change there after unless such change is
agreed to in writing by Marine Petrobulk. Cancellation of nomination by the
buyer will be subject to payment of applicable charges, unless waived in
writing by Marine Petrobulk.

Unless otherwise specified Marine Petrobulk's prices are quoted exclusive of
charges applicable as follows:
(a) Barging
Buyer shall pay Marine Petrobulk its agreed bunkering transportation fee(s)
to the port / berth of delivery together with other charges incurred in
connection with such barging, including but not limited to ports dues,
wharfage, standby, shutdown, retain returns, and demurrage charges.

(b) Delays
The vessel shall provide a free side for delivery. Any additional costs
arising from delays caused by a lack of free side or a requirement to
deliver outside normal harbour limits, shall be paid by Buyer at the rates
then applicable for such services. Where agreements with employee's
organizations apply, Marine Petrobulk shall not be liable for any inability
to deliver on public dock, or contractual holidays.

(c) Taxes
All taxes, duties and other governmental and regulatory levies applicable to
the product and the delivery thereof are for the account of the Buyer and
shall be remitted by the buyer to Marine Petrobulk as required by law.

Buyer or Buyer's appointed agent shall give Marine Petrobulk at least
forty-eight (48) hours notice at the time and place at which delivery is
required within the Port together with a reconfirmation of the quantities of
each grade of fuel nominated. No change of contracted quantities shall be
permitted without written consent of Marine Petrobulk and any change in
quantities may be subject to a price adjustment.

(a) Buyer, or its agent, shall have the right to be represented at the time
of delivery and measurement, and have the right to check any of Marine
Petrobulk's measurements, or sound the tanks of the delivery vessel.

(b) The quantity of each delivery shall be determined by Marine Petrobulk in
accordance with the onboard petroleum measurement tables, and such
measurement, as documented on the Marine Bunker Receipt shall be considered
conclusive between the parties.

(c) At the time of delivery, Marine Petrobulk shall take two representative
numerically sealed samples of the product(s) delivered, such sampling to be
in accordance with the continuous manual line drip sampling of procedures
established by Veritas Petroleum Services. One set of sealed samples of each
product delivered shall be given to a representative of the vessel receiving
the product(s): the other sample shall be retained by Marine Petrobulk for a
period of seven (7) days from the date of delivery for verification, if
required, of the quality delivered. Buyer, or its agent, shall advise Marine
Petrobulk within seven (7) days of receipt of such samples of any defect in
quality, and if the buyer has made a complaint for claim within such seven
(7) days Marine Petrobulk's retained sample shall be submitted for analysis
to an independent laboratory.

In accordance with Buyer's nomination form of delivery at the point and time
of delivery to the vessel all title and risk of loss for the marine fuels
supplied by Marine Petrobulk shall pass to Buyer as the product passes the
end of the barge's hose.

It is agreed and acknowledged that a lien over the vessel is created for the
value of the products and other charges agreed by Buyer in this agreement
that Marine Petrobulk, in agreeing to deliver product(s) to the vessel, does
so relying upon the faith and credit of the vessel. The Buyer, if not the
owner of the vessel hereby expressly warrants that he has the authority of
the owner to pledge the vessel's credit and that he has or will give notice
of the provisions of this clause to the owner. Marine Petrobulk shall not be
bound by any attempt by any person to restrict, limit or prohibit its liens
attaching to a vessel unless written notice conforming to all requirements
of Canadian maritime law is duty received by Marine Petrobulk.

Unless otherwise specified, payment for product, transportation and other
charges payable shall be made in full (without any deduction, off -set or
counterclaim) in immediately available US funds by electronic transfer,
quoting Marine Petrobulk's invoice number and Buyer's name, via:

Final Beneficiary: Marine Petrobulk Ltd.,       
                             HSBC Bank Canada

                             1577 Lonsdale Avenue
                             North Vancouver, BC Canada                 
                             USD Account No 500-373388-059
Swift No.               HKBC-CATT

Routing Bank:      Marine Midland Bank
                             New York, New York
                             Account of HSBC Bank Canada
                             ABA No. 021-001088

Marine Petrobulk shall have the right to require, in respect of any payment
not made by the due date (30 DOD),payment of interest by buyer at a rate of
1.5 % per month.

(a) Marine Petrobulk warrants that each grade of marine fuel supplied
hereunder shall be of merchantable quality. Marine Petrobulk's liability
shall be limited to the contracted value of the marine fuel(s) supplied. No
other warranties are given and no other liabilities are accepted or assured
hereunder by Marine Petrobulk or by its Owners, Agents, and Employers.

(b) Buyer and its agents shall indemnify Marine Petrobulk against any
liability incurred by Marine Petrobulk in respect of Buyers failure to
comply with applicable Government or local regulations such as those related
to fire,   pollution, or in respect of any loss of marine fuels or damage to
any property caused by Buyer's vessel during bunkering.

(c) Buyer and its agents shall be liable for any expenses, costs or
unnecessary charges incurred by Marine Petrobulk resulting from Buyer or
Buyer's representative failing to take delivery of, rejecting, in part or in
full, any quantity ordered.

(d) Buyer and its agent shall be responsible for providing safe,
uninterrupted reception for the full quantity(s) of marine fuel(s) ordered,
including compliance with all health and safety requirements, and shall be
liable for any damage or injury to Buyer's or Marine Petrobulk's or their
supplier's property, servants or agents, unless caused by the negligence of
Marine Petrobulk,  servants or agents, or by the failure of , or defect in
Marine Petrobulk's supply equipment.

If a spill occurs while marine fuels are being delivered, Buyer and Marine
Petrobulk shall promptly and collectively take such action as is reasonably
necessary to contain and remove the spilled marine fuels and mitigate the
effects of such spills. Marine Petrobulk is hereby authorized, at its
option, and at the expense of the Buyer, to take such measures and incur
such expenses (whether by employing its own resources or by contracting with
others) on behalf of buyer as are reasonably necessary in the judgment of
Marine Petrobulk to remove the spilled marine fuels and mitigate the effects
of such spills. Buyer shall cooperate and render such assistance as is
required by Marine Petrobulk in the course of such action.

Buyer shall not assign the contract or any of its rights and obligations
thereunder. No waiver by either party or any provision of the contract shall
be binding unless expressly confirmed in writing. Further, any such waiver
shall not apply to any subsequent contrast or delivery unless confirmed in

The construction, validity and enforcement of these terms and conditions
shall be governed by the laws of British Columbia. Any dispute arising from
or in connection with these terms and conditions shall be submitted to
arbitration in Vancouver, British Columbia in accordance with the
International Commercial Arbitration Act of British Columbia, or any
statutory modification thereof.

Marine Petrobulk shall not be responsible for any delay or failure to
deliver marine fuels where performance is delayed, prevented or made
substantially more expensive by circumstances beyond the reasonable control
of Marine Petrobulk. These circumstances include but are not limited to ship
lock outs, stoppage or slowdown of work, or other labor disturbances such
as: operation of law, interference by civil, military, coast guard
authority, war, riot, insurrection, blockade, embargo, acts of God, weather
conditions, perils of the sea, fire or explosion.