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1. You’re in PowerPoint 2003 or later is required to fully appreciate this presentation If you have an earlier version you can download PowerPoint 2003 Viewer at the following URL http://www.microsoft.com/downloads/details.aspx?FamilyID=428d5727-43ab-4f24-90b7-a94784af71a4&displaylang=en Press esc at anytime to quit Automatic presentation - any key to advance

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3. Are your ships in Safe Hands? Do you find that sometimes Flag States can be part of the problem rather than part of the solution? BMSR provides fast pragmatic solutions to your problems BMSR operates a 24/7 support facility for ship operators, 365 days of the year Press esc at anytime to quit Automatic presentation - any key to advance

4. Make the jump to BMSR BMSR: a high-quality open ship registry headquartered in London with offices around the world. A wide range of internationally owned vessels fly the Barbados flag including tankers, bulk carriers, containerships and yachts. Press esc at anytime to quit Automatic presentation - any key to advance

5. Be heard, loud and clear Our services and fleet quality are second to none Listed on the PSC White List Recognised by USCG Qualship 21 programme Press esc at anytime to quit Automatic presentation - any key to advance

6. The BMSR Network Our registrars provide local services in Barbados China Egypt Germany Greece Hong Kong India Indonesia Japan Malta Netherlands Antilles Norway Pakistan Russia Singapore Sweden UAE United Kingdom USA This network is backed up by a further 300 nautical inspectors in 40 countries. Press esc at anytime to quit Automatic presentation - any key to advance

7. Why choose BMSR? BMSR is a Shipping is a 24/7 activity operation When dealing with many other flag states you may find that your confirmations, exemptions or dispensations urgently required by port officials, will not be seen until the Flag Administration has their ‘office hours’ You need to be assured that you are in contact with someone who understands your problem and who has the authority to advise and act towards the quickest solution Press esc at anytime to quit Automatic presentation - any key to advance

8. Be protected by our service BMSR Services Simple registration process Low fixed fees No Barbados tax exposure for foreign owned ships Press esc at anytime to quit Automatic presentation - any key to advance

9. Think about it. Flag with BMSR A unique Flag State service Have you ever wondered why a ship’s real condition does not agree with the superintendent’s reporting? Why do so many ships with full statutory certification issued by IACS class societies have difficulty with Port State authorities? Why is there little or no documented evidence indicating the ship’s true condition recognising the normal ageing process from the statutory records? Press esc at anytime to quit Automatic presentation - any key to advance

10. Flag with BMSR and have something to shout about BMSR has developed free ‘Condition Mapping Reports’ (CMR), for all our ships Using CMR will help you track the vessels condition as it changes due to the influences on it, and decide if its acceptable or not. In addition these reports provide important indications as to the true impression your ‘asset’ gives to third parties. The CMR is for the information of the operators only and does not form part of any certification process Press esc at anytime to quit Automatic presentation - any key to advance

11. Fee registration Vessels < 5 years of age Vessels > 5 –10 years of age Group vessel registration (>1) Group vessel registration (>3) Group vessel registration (>5) Double your expectations 20% discount in initial registration fee 10% discount of initial registration charges 5% of initial registration charges 10% of initial registration charges 20% of initial registration charges Group Discounts only apply to ships over 10,000 GRT Press esc at anytime to quit Automatic presentation - any key to advance

12. Fees Initial Registration US$ <2000 NT 2760 2001 – 5000 NT 1.2 x NT + 400 5001 – 25000 NT 0.5 x NT + 4000 >250001 NT 0.2 x NT + 11500 Other Fees US$ Radio Licence 126 annual CSR Maintenance 126 annual Deletion Certificate 80 MMSI Registration 80 Call Sign Registration 80 Safe Manning Certificate 80 Mortgage Transactions 270 Register Transcript 80 Bill of Sale Registration 270 Change of Vessel Name 270 Officers Endorsements 80 Exemption Certificates 126 Permits to Operate 126 Declarations of Compliance 420 STCW Exemptions 420 SPS Certificates 500 Change to Register entry 80 Bunker & Tanker CLC certificates 80 Bareboat Charter Statements 126 LRIT certificates 80 ITC69 Tonnage Certificate 126 Annual Fee US$ >2000 NT 2500 2001 – 5000 NT 0.21 / NT + 2180 5001 – 25000 NT 0.20 / NT + 2510 >25001 NT 0.04 x NT + 7010 Yacht Pleasure Charter Initial fee (US$) 2760 4000 Annual Fee (US$) 275 1990 Press esc at anytime to quit Automatic presentation - any key to advance

13. Recognised organisations American Bureau of Shipping Bureau Veritas China Classification Society Det Norske Veritas Germanischer Lloyd Korea Register of Shipping Lloyds Register Nippon Kaiji Kyokai Registro Italiano Navale Register of Russian Shipping Press esc at anytime to quit Automatic presentation - any key to advance

14. Secunda Group of Companies Canada Donald A Macleod Vice President – General Council “Based on our experience with BMSR and other flags we can confirm that BMSR provides a superior Ship Registry service in that we have had only good experience from them in over ten years of using the Barbados Flag” Testimonials V.Ships Ship Management USA Artic Shipping Norway Wilson Ship Management Bergen, Norway Admanthos Shipping Agency, Stamford CT, USA G Bulk Corporation Greece Bjorn Tvedt General Manager Ron Dejewski President Ove N. Vilnes Owner/President Manos Katsoulakis DPA Michael Bradshaw Divisional Risk, Safety and Quality Manager “With a high proportion of our vessels trading to and from Europe it is important that the Barbados flag is included on the Paris MOU White List. BMSR has very competitive rates based on the size of the ship with no hidden extras. BMSR has recognised the problem of Administrations being distant from their responsibilities and as a result has developed unique quality initiatives for the mutual benefit of both ship operator and the Administration.” “BMSR’s quality commitment to its vessels being compliant and professionally operated is evidenced by their early enrolment in the USCG Qualship 21 Programme. The staff of BMSR provides fast responses supporting our ships operational needs. BMSR enjoys a good reputation with the various PSC MOU’s.” “We can confirm that BMSR provides a superior Ship Registry service, with very short response time for receiving replies to our communications. BMSR has recognised the problem of Administrations being distant from their responsibilities and as a result has developed unique quality initiatives for the mutual benefit of both ship operator and the Administration.” “The first vessel in our fleet to be issued with MLC2006 certification was a Barbados registered vessel and this is due to the good co-operation and understanding between the Flag Administration and V.Ships in the process.” “Through BMSR we overcame the large communicational gap between owner and administration which we have experienced in the past. BMSR is a zero-bureaucracy administration with reasonable fees. BMSR has been designated a ‘White List’ flag which means they have attained the highest quality ranking following the Paris MOU on port state control’s latest inspections.” Press esc at anytime to quit Automatic presentation - any key to advance

15. Join BMSR and smile about the service For more information on BMSR contact: Mr Chris Sawyer Principal Registrar Barbados Maritime Ship Registry Barbados High Commission 1 Great Russell Street London WC1B 3ND Tel: +44 (0) 20 7636 5739 Fax: +44 (0) 20 7636 5745 Email: registry@barbadosmaritime.com www.barbadosmaritime.com Press esc at anytime to quit Automatic presentation - any key to advance

16. Join BMSR and smile about the service For more information on BMSR contact: Mr Chris Sawyer Principal Registrar Barbados Maritime Central Ship Registry Barbados High Commission 1 Great Russell Street London WC1B 3ND Tel: +44 (0) 20 7636 5739 Fax: +44 (0) 20 7636 5745 Email: registry@barbadosmaritime.com www.barbadosmaritime.com Press esc at anytime to quit Automatic presentation - any key to advance

17. You’re in See you at Posidonia Hall 5, Stand 558, Maritime London Pavilion, booth 1 Press esc at anytime to quit Automatic presentation - any key to advance