MEDCOSHIPBROKERS

ESTABLISHED IN 1979

Member of:

MEDCOSHIPBROKERS S.L.

Well established and fully respected Maritime Consultancy and Ship broking company.

34 Years of Extensive Experience in the International Markets.

Ranked #1 Ship broking house by our clients.

International Reputation among Charterers, Owners and other Shipbrokers.

International Staff.

350-400 Tanker Fixtures between T/C, Spot and COA contracts per year.

No claims whatsoever received in all our experience from any part.

Based in Madrid, Spain

BUSINESS AREAS

1. Shipbroking

a) Spot Business• Crude Tankers• Product Tankers• Chemical Tankers• Operations

b) T/C Businessc) S&P Business, New Building and Projects

2. Maritime Consultancy

• Assessment to Charterers and Owners on future Shipping strategies.

• Research and Assessment to different Shipping institutions

• Consultancy to Academic Institutions• M&A

1. SHIPBROKING

A) SPOT BUSINESS

Crude Tankers:

•Ranked #1 in all the different evaluation parameters which include, Market Knowledge, Information, Fixtures, Post- Fixture, Managing Own Fleet by clients.•Presence in all the different markets in Eastern and Western basins as well as in the Pacific Ocean.

Product Tankers:

•Ranked #1 in service providing by charterers.•Chartering of all the Clean and Dirty Oil Products including Naphta, Gasoline, Jet, Fuel Oil, VGO, etc. •Worldwide presence

Strong relationship with over 150 market players.

Very High Experienced and Qualified Brokers.

1. SHIPBROKING CHARTERING cont.MEDCO IS PRESENT IN THE FOLLOWING CHARTERING PANELS:

:

1. SHIPBROKING

B) T/C BUSINESS

• Involved in all different types of T/C contracts.

• Medco constantly has a good number of Vessels in T/C contracts allowing us to be active players in this kind of business.

2. MARITIME CONSULTANCY

• Our Founder Director has been a member of BIMCO Sale and Purchase Panel , being the only Spanish representative for more than 22 years.

• Active advisor to Charterers on future strategies focusing on the shipping of their cargoes.

• Assessment on financing of different operations• Sold over 60 vessels including 6 VLCC’s and 9

Suezmaxes. • Over 4 Million DWT sold.

• M&A/Joint Ventures. • Medco has assessed and carried out different Joint

Ventures between Shipyards, Owners and Chartering.

• Participated in Fleet expansion projects presenting different possibilities and constantly adapting to the new times coming.

• Found solutions for Owners and Charterers with problems risen from bad advice from third parties.

2. MARITIME CONSULTANCY S&PSOME CLIENTS THAT HAVE BEEN ASSESED BY MEDCO IN

THE S&P OF THEIR VESSELS OVER THE YEARS: ALVARGONZALEZ (SPAIN)ANTARES NAVIERA (ARGENTINA)ARGONAUT (SUECIA)AZNAR (SPAIN) B. DE CREDITO INDUSTRIAL (SPAIN)B. POPULAR (SPAIN)BBVA (SPAIN)BOLIVARIANA DE NAVEGACION (PERU)BOURGAS (BULGARIA)BUTANO (SPAIN)CEPSA (SPAIN)CCNI (CHILE)C.L.H (SPAINCONFERRY (VENEZUELA)DEL BENE (ARGENTINA)

DELMEX (MEXICO)EMPREMAR (CHILE)ERSHIP (SPAIN)FLOPEC (ECUADOR)FLOTA MERCANTE GRANCOLOMBIANA GRUPO BARRERAS (SPAIN)GRUPO FEIRE (SPAIN)IBERNAVES (SPAIN)JAHRE SHIPPING (NORWAY)KAI-ALDE (SPAIN)LINEAS ASMAR (SPAIN)MERCATOR (INDIA)MULTIMARES (PERU)NATIONAL SHIPPING (ARGENTINA)NAVIERA ARTOLA(SPAIN)NAVIERA BOLUDA (SPAIN)NAVIERA DE CASTILLA (SPAIN)

NAVIERA FIERRO (SPAIN)NAVIERA F. TAPIAS (SPAIN)NAVIERA DE ODIEL (SPAIN)NAVIERA PETROGAS (SPAIN)NAVIERA PINILLOS (SPAIN)NAVIERA QUIMICA (SPAIN)NAVIERA RESMAR (SPAIN)NAVIERA SKORPIOS (SPAIN)NAVIERA VIZCAINA (SPAIN)NAVISUPE (ARGENTINA)ORBIPETROL (SPAIN-NORWAY)OMI (U.S.A.)P.D.V. MARINA (VENEZUELA)

QUEENSWAY NAVIGATION (GREECE)RESPOL (SPAIN)SOPONATA (PORTUGAL)SUDOIMPORT (URSS)TRADEWIND TANKERS (VENEZUELA)TRASNPORTES RIVA (ESPAÑA)TRASNVAN, VIA NAVIERA (PERU)TRANSMEDITERRANEA (ESPAÑA)GIJONESA DE DESGUACES SL (ESPAÑA)TRANSOCENICA (PERU)TRADEWIND TANKERS (INDIA)U.S. NAVY (U.S.A.)

2. MARITIME CONSULTANCY S&P

SOME OF THE VESSELS MEDCO HAS SOLD/BOUGHT OVER THE YEARS:SETTEBELLO 323,000

DWTMONICA MARIA 300,000 DWTMUNDACA 300,000 DWTMUNGUIA 300,000 DWTT. AUGUSTA 270,000 DWTSANTILLANA 260,000 DWTAL. ROTAECHE 174,000 DWTALVARO DE BAZAN165,000 DWTJAHRE TRADER 135,000 DWTARGO ARTEMIS 135,000 DWTROSARIO DEL MAR132,000 DWTELVIRA C 130,000 DWTVITORIA130,000 DWTIRANZU 130,000 DWTTAVIRA 130,000 DWTPLAYA DE RIAZOR103,000 DWTMOSTOLES 96,000 DWTCARIPE 53,000 DWT

MANABI 51,511 DWTSEA CORAL 42,000 DWTCARUAO 38,000 DWTMAR ATLANTICO 35,000 DWTCAMPOAMOR 35,000 DWTGUERNICA 33,000 DWTDRY SACK 30,500 DWTCASELLBLANCH30,500 DWTMARA PACIFICO27,000 DWTASPIS 27,000 DWTTROMPETEROS 25,000 DWTDUILIO 7,500 DWTLOJA 20,000 DWTM. PROGRESS 24,000 DWTPRESI.IBAÑEZ 17,000 DWTPAXO 16,000 DWTPONTE SAMPAYO 15,000 DWT+ around 25 vessels more.

2. MARITIME CONSULTANCY S&P

TEAM

S&P, N/B and Maritime consultancy

Diego Azqueta:Lawyer by Deusto University. Founder of Medco Shipbrokers in 1979. Founder, board director SegurosBroker.com. Exvice-president of Spanish Newspaper Diario 16. Founder, ex president Survival International (Spain) and Watu Indigenous Action. Vice-president Spanish Geographic Society. Maritime consultant

Enrique RibotB. A. in International Business Management by Boston University with an expertise in international sale and corporate management.Entrepreneur with an extensive boatbuilding experience for the last 20 years.Joined Medco in spring 2013 as a shipbroker, maritime consultant and key account manager.

TEAM

CRUDE BROKERS

CHARTERING

Luis Bernar:Business Administration CEU (Luis Vives) (Madrid). Working in the shipping industry since 1981 (Sale and Purchase, dry cargo chartering and tanker chartering).Nacho Polo:Graduated by the Spanish Maritime Institute. Working in the shipping industry since 1983. (Sale & purchase, dry cargo chartering and tanker chartering).

Juan Cervigon: B.A. in International Business Management with a Concentration in Finance by the University of Massachusetts, Boston.

TEAM

CHARTERING

PRODUCTS BROKERSLalo Pacheco:Graduated in “Business Administration” by “San Pablo C.E.U University” (Madrid). Master “Business Negotiating” Berkeley University, San Francisco (California).2 years in CitiBank. Working in the shipping industry since 1994 when joined Medco (Sale & purchase, new building contracts and conversions, tanker chartering).

Alfonso Bernar:Degree by the Royal Agricultural College, Cirencester England, part of the City of London Polytechnic (1978/1981). Working in the shipping industry since 1984 when joined Medco (tanker chartering).

FLETAMENTOS

BROKERS DE PRODUCTOS DERIVADOS

Damyan Ivanov:MSc in Marine Engineering and MSc in Industrial Management, have been active in shipping, trading and projects with different companies in Europe for more than 10y

TEAM

Francisco Vera:Maritime expert Attorney. Law Degree in Argentina by Buenos Aires University (UBA) and Spanish law expert. Master in Business and Maritime Law by IME/ Icade. Working in various offices related to law and international business. He also worked in Repsol Trading before joining MEDCO.

TEAM

OPERATIONS

Francisco Matía:Graduated in Sea Transport and Navigation by the Civil Marine University. Master in “Shipping business” by ICADE, Madrid. Working in the shipping industry since 2002.

Sara Parmo:Chief Officer and Bachelor degree in Sea Transport and Navigation by civil Marine University in Santander (Spain). Tanker operator specialized in chemical cargo. She also worked in Stolt Tankers and Tokyo Marine Europe before joining MEDCO.

TEAM

ACOUNTING, FINANCIAL & TAX

Juan Fernandez Blanco:

• Accountant• Finance• Legal

CONTACT DETAILS

MEDCO SHIPBROKERS, S.L. c/ Velázquez, 41 –

Madrid 28001 - Spain.

Email: medco@medcoshipbrokers.comEmail: projects@medcosjipbrokers.com Tankers: +34 91431 52 35 S+P: +34 91 431 52 35 Fax: +34 91 575 05 00 Tlx: 49656 MDCE E