HISTORY

SYSTEMAR LTD WAS FOUNDED IN JUNE 2006 AS SUBSIDIARY OF COMPANY CALISTA LLC IN ODESSA, UKRAINE. Calista LLC was founded in 2001 in washington, DC, USA & has registered office in Las palmas, Canary islands, Spain. Company was acting as Manager of Fishing Trawlers, working in Mauritania fishing area, & Reefer ships, which were carrying Frozen fish and perishable goods to customers (mainly to Europe). To expand the Technical & Crewing side of the Management activities, principals have decided to open their office in odessa, ukraine in 2006, as result of which company SYSTEMAR LTD was founded. SERVICES Our Full Management Tankers are operating virtually with no idle time thanks to regular successful vetting inspections, “green Zone” reputation (no rejections for more than 7 years) and also TMSA (Tanker Management Self-Assessment) Audit held in the office, done by OMV group. Our vessels are physically inspected on regular basis by SHELL, LUKOIL, OMV, SARAS, ERG, ENI, TOTAL, CEPSA. Based on physical inspections, all vessels are positively evaluated by BP & EXXON-MobiL. CREW MANAGMENT Initial interview, selection of crew and CES 5,01 tests the latest official version Proper qualification and certification of crew˙ Crew training (both on board and ashore based on official Seagull Training program) Endorsement acknowledgement as per vessel’s flag requirement Medical examination fitness certificates & appraisal reports Implementation and follow up of drug and alcohol policies Issuance of working gear Joining and repatriation (fly details booking, coordinating with agents, etc) Visa arrangements Crew welfare Insurance Deck and Engine Cadet program with direct sourcing from Maritime Academy When it comes to Crew Management, we proudly state that our Seafarers Database has close to 8000 Applications of EE officers and Ratings, careful selection process, computer based tests and individual interviews with our in-house experienced Masters and Chief Engineers provide solid breed of what it called “ex-USSR” quality Crew, able not only to operate vessels, but to identify and fix the breakdown of mechanical or electrical units, which happens time to time on board. Company Alcohol policy is Zero Alcohol on board. SHIPMANAGEMENT SYSTEMAR LTD SHIPMANAGEMENT PROVIDES FULL MANAGEMENT FOR VARIOUS TYPES OF VESSELS, SUCH AS OIL / CHEMICAL TANKERS, LPG, CONTAINER AND BULK CARRIERS, REFRIGERATOR VESSELS; CREW MANAGEMENT FOR FISHING VESSELS, SHALLOW WATER VESSELS AND BULK CARRIERS. MAIN ASPECTS OF FULL TECHNICAL MANAGEMENT INCLUDE BUT NOT LIMITED TO: Compliance with ISM, ISPS Code and MLC 2006, SOLAS, MARPOL — general Technical aspects of ship operations (maintenance as per ship-specific PMS) Chartering of wet/dry type of vessels (Oil/Chemical tankers, bulk Carriers) Compliance to OCIMF SIRE (vetting inspection) to ensure acceptance by Oil Majors required for commercial operation of the Tanker-type vessels - onboard Supervising of major maintenance and repairs Assistance during Class and Flag surveys — victuals management Dry docking and renovations supervising, assessment of quotations and optimization Compliance to Flag and Port State requirements Enhanced ballast Tanks treatment with riding squad (when required by owner) Enhanced navigational Audits on board and training during sailing visits