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NAME: INTERNATIONAL VESSEL OPERATORS DANGEROUS GOODS ASSOCIATION AGREEMENT

FMC NO.: 203-011290 (3d Edition)

CLASSIFICATION: COOPERATIVE WORKING AGREEMENT

EXPIRATION DATE: NONE

Restatement of Agreement

lIAR 2 8 2009

International Vessel Operators Dangerous Goods Association Agreement FMC Agreement No. 203-011290-039 (3d Edition) Original Page No. 1

TABLE OF CONTENTS

ARTICLE PAGE

1 FULL NAME OF THE AGREEMENT 2

2 PURPOSE OF AGREEMENT . 2

3 PARTIES TO THE AGREEMENT 2

4 GEOGRAPHIC SCOPE OF THE AGREEMENT 2

5 AGREEMENT AUTHORITY 3

6 OFFICIALS OF AUTHORITY

THE AGREEMENT AND DELEGATIONS OF 5

7 MEMBERSHIP, WITHDRAWAL, EXPULSION

READMISSION AND 5

8 VOTING . 6

9 DURATION AND TERMINATION OF THE AGREEMENT 7


ARTICLE 1: FULL NAME OF THE AGREEMENT

The full name of this Agreement is the International

Vessel Operators Dangerous Goods Association Agreement

("Agreement") .

ARTICLE 2: PURPOSE OF AGREEMENT

The purpose of this Agreement is to form an association

to advocate common positions before governmental and other

bodies, and to discuss, evaluate and reach agreement with respect

to matters pertaining to all-water and intermodal transport of

hazardous cargoes in the U.S. trades for purposes of promoting

safe, consistent and cost beneficial transport of such cargoes.

ARTICLE 3: PARTIES TO THE AGREEMENT

The parties to this Agreement are listed in Appendix A

hereto.

ARTICLE 4: GEOGRAPHIC SCOPE OF THE AGREEMENT

This Agreement covers the trades between all United

States ports, and all U.S. points served via those ports,

(including, without limitation, ports and points in Puerto Rico

and U.S. territories and possessions), and ports and points in

all other countries worldwide (hereinafter the "Trade").


ARTICLE 5: AGREEMENT AUTHORITY

5.1 Under this Agreement, the parties are authorized, but

not required, to discuss and agree upon all matters relating to

the handling and transportation of hazardous cargoes, including:

(a) Positions to be taken in submissions to and

proceedings before governmental agencies, departments,

legislative bodies, and tribunals, as well as trade

associations, international bodies and organizations;

(b) Uniform or differential transportation procedures,

requirements, standards, conditions, classifications,

rules, and practices in the Trade pertaining to the

acceptance, refusal, handling, documentation, transfer,

loading, unloading, storage, ocean and/or inland

transportation, interchange, and delivery of hazardous

cargoes, whether moving under through bill of lading or

otherwise, by direct service or transshipment, and

whether moving under tariffs, service contracts or

otherwise; and

(c) Uniform or differential procedures, requirements,

standards, conditions, classifications, rules and

practices relating to the purchase, lease, acceptance,

refusal, use, handling, documentation, interchange,

transfer, loading, unloading, storage and transport of


intermodal and other equipment, including without

limitation, dry containers, tank containers, bolsters,

tanks, and chassis.

5.2 The parties may exchange information, statistics,

reports, studies and other data pertaining to matters within the

scope of Article 5.1.

5.3 Any agreement reached on items subject to tariff

filing pursuant to Section 8(a) of the Shipping Act of 1984, as

amended, shall be a matter of voluntary adherence by each party,

and nothing in this Agreement shall bind any party hereto to any

such agreement or prevent any party from departing from such

agreement at any time upon written notice to the Agreement;

provided, however, that nothing herein shall authorize the

parties to agree upon rates to be offered to shippers.

5.4 The parties may agree upon any routine

administrative matters relating to the operation or

implementation of this Agreement. The parties shall allocate

costs incurred hereunder and pay their respective shares thereof

in a timely manner.

5.5 For purposes hereof, references to "hazardous

cargoes" shall mean cargoes subject to regulation pursuant to the

U.S. Hazardous Materials Transportation Act (or government

regulations promulgated pursuant thereto) or the International

Maritime Dangerous Goods (IMDG) Code.


ARTICLE 6: OFFICIALS OF THE AGREEMENT AND DELEGATIONS OF AUTHORITY

6.1 From time to time, the parties shall designate an

Executive Committee consisting of a chairman, vice chairman,

secretary-treasurer, the immediate past chairman, and two

additional members. The Chairman shall officiate at full

meetings of the parties and the Executive Committee. The

Chairman and Vice Chairman shall be authorized to carry out the

decisions of the parties. The Executive Committee shall make

recommendations to the parties on administrative and

organizational matters. The Executive Committee may appoint a

General Manager to act as administrator of the Agreement.

6.2 Agreement counsel (including attorneys with Counsel's

law firm) shall have the authority to execute and file this

Agreement, any modifications to this Agreement, and any forms in

support of the foregoing on behalf of the parties, upon

appropriate vote taken by the parties.

ARTICLE 7: MEMBERSHIP, WITHDRAWAL AND EXPULSION

7.1 Full Membership - Any ocean common carrier in the Trade

is eligible for full membership in this Agreement upon execution

of a counterpart hereof, provided that said carrier will not

become a party to this Agreement until an amendment to this

Agreement providing for such membership is effective pursuant to

the Shipping Act of 1984, as amended. Any ocean common carrier

International Vessel Operators Hazardous Material Association Agreement FMC Agreement No. 203-011290-039 (3d Edition) Original Page No.6

companies which are under common control may join this Agreement

and shall be treated as a single party for purposes of voting and

payment of dues and costs.

7.2 Associate Membership Any interested company or

organization that is not an ocean common carrier in the Trade may

become an associate member by majority vote of the full members

and upon execution of a counterpart hereof, provided that said

company or organization will not become a party to this Agreement

until an amendment to this Agreement providing for such associate

membership is effective pursuant to the Shipping Act of 1984, as

amended. Associate members shall be deemed to be parties

hereunder for all purposes with the exception of Article 8,

Voting.

7.3 Withdrawal - Any party may withdraw from this Agreement

at any time by prior written notice to the Agreement.

7.4 Expulsion - A party may be expelled from this Agreement

for material breach of this Agreement or failure to maintain an

ocean common carrier service in the Trade.

ARTICLE 8: VOTING

8.1 Except as provided for in Article 8.2, any consensus or

agreement reached by the parties shall be a matter of voluntary

adherence by those parties choosing to so agree.

8.2 The following matters shall be subject to binding vote

of the parties: (a) membership, expulsion from membership and


termination of this Agreement; (b) administrative matters,

including allocation of expenses, appointment of chairman and

committees, and scheduling of meetings; and (c) amendments to

this Agreement. Action on such matters shall require a three

quarters vote of the parties present; provided, that an amendment

adding new members or deleting withdrawing members may also be

authorized by majority vote of the Executive Committee. Voting

may also take place through telex, telephone, telefax or e-mail

polls.

8.3 Quorum at full meetings of the Agreement shall require

the presence of one third of the parties (either directly or

through proxy.)

8.4 At least seven days written notice shall be given to

the parties of meetings of the Agreement unless waived by three

quarters of the parties entitled to vote.

8.5 The parties may appoint committees from time to time to

review and make recommendations to the Agreement on any matters

within the scope of the Agreement.

ARTICLE 9: DURATION AND TERMINATION OF THE AGREEMENT

This Agreement shall continue in effect indefinitely, and

the parties may terminate the Agreement at any time.

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International Vessel Operators Dangerous Goods Association Agreement FMC Agreement No. 203-011290-039 Appendix A - Original Page No. 5

Alianca Navegacao E Logistica Ltda. 465 South Street Morristown, NJ 07960

China Shipping Container Lines Co., Ltd. 100 Plaza Drive Secaucus, NJ 07094

Hanjin Shipping Co., Ltd. 80 E Route 4 Paraus, NJ 07652

Seaboard Marine Ltd. 1630 Port Boulevard Miami, FL 33132

Yang Ming Marine Transport Corp. c/o Solar International Shipping Agency, Inc. 525 Washington Blvd., 25 th Floor Jersey City, NJ 07310

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