1st GLOBAL SHIPBROKERS PIREAS THURSDAY 21st JUNE 2001 HOTEL ATHENAEUM INTERCONTINENTAL ATHENS - GREECE WITH THE PARTICIPATION

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P R O G R A M M E 1st GLOBAL SHIPBROKERS PIREAS 2001 THURSDAY 21st JUNE 2001 HOTEL ATHENAEUM INTERCONTINENTAL ATHENS - GREECE WITH THE PARTICIPATION OF: HELLENIC SHIPBROKERS ASSOCIATION THE BALTIC EXCHANGE ASSOCIATION OF SHIP BROKERS & AGENTS (ASBA) USA, INC. DUTCH SHIPBROKERS SOCIETY UNION OF GREEK SHIPOWNERS HELLENIC CHAMBER OF SHIPPING MINISTRY OF MERCANTILE MARINE, GREECE SIMPSON, SPENCE & YOUNG ALFRED C. TOEPFER INTERNATIONAL GMBH CARRIERS CHARTERING CORP. S.A., GREECE COSMOS SHIPPING CO, S.A. CLARKSONS Law Office WEISS, ELVEY & ASKINS in association with INCE & CO. IFCHOR SWITZERLAND GEORGE MOUNDREAS & CO S.A. DIETZE & ASSOCIATES, L.L.C USA VERTOM SHIPPING B.V. ITIC UK N. COTZIAS (SHIPPING) CO, LTD. Law Office HOBBS in association with NORTON ROSE HILL TAYLOR DICKINSON ODIN MARINE GROUP, USA BULK MARE SRL ITALY HELLENIC SHIPBROKERS ASSOCIATION

1st GLOBAL SHIPBROKERS PIREAS 2001 THE TOPICS WHICH WILL BE ADRESSED ARE: Can a broker add value to a fixture? On the occasion of Pireas 2001, the biannual International Gala Shipbrokers Dinner organised by the Hellenic Shipbrokers Association, a one-day conference has been set to precede the dinner, offering the shipbroking sector a forum in which to meet and discuss current issues of the industry. The conference, entitled the 1st Global Shipbrokers' Forum, is organised by the Hellenic Shipbrokers Association, in co-operation with Mare Forum, which is based in Rotterdam. The conference is designed to seek out, debate and conclude upon the truths of the ship broking profession of the moment. New legal developments, information age tools, and a growing demand that due respect be paid to one of the most crucial sectors in the shipping industry, the 1st Global Shipbrokers' Forum will set an agenda for action in response to the emerging reality of the profession. Set up in a parliamentary style which is traditional of Mare Forum conferences, the 1st Global Shipbrokers' Forum seeks to foster an environment condusive to discussion and a true exchange of knowledge. The 1st Global Shipbrokers Forum will take place on Thursday, the 21st of June 2001,at the Hotel Athenaeum Intercontinental in Athens, followed the next day, Friday the 22nd of June 2001, by the Pireas 2001 Gala Dinner at the Golf, in Glyfada. The Hellenic Shipbrokers' Association and Mare Forum look forward to welcoming you to Athens, to the 1st Global Shipbrokers' Forum, and wish you success during the conference. Jannis KOSTOULAS Managing Director Mare Forum ORGANISERS SPONSORS [ by April 2001] Nick PENTHEROUDAKIS President Hellenic Shipbrokers Association The Internet: The New Tool, or Just Another Myth? Brokers acting in good faith, but without guarantee. Is this sufficient for a viable future? An Examination of Three Species of Shipbrokers: The One Man Show, The Small Business, The Big Corporation The Successful S&P Broker: Yesterday, Today & Tomorrow The Need for the Tanker Broker in an IT Environment Can the Shipbrokers Responsibilities be Insured? Securing the Payment of Commissions Protecting Brokers from Non- Good Faith Principals How can shipbrokers' associations assist their members? An Examination of Human Resources in the Shipbroking Industry Today's Motto: "My word is my bond" - What about tomorrow? THURSDAY 21 JUNE 2001 HOTEL ATHENAEUM INTERCONTINENTAL A T H E N S - G R E E C E

1st GLOBAL SHIPBROKERS PIREAS 2001 hotel athenaeum intercontinental athens - greece THURSDAY June 21 SESSION 1 THE EVOLUTION OF AN INDUSTRY CHAIRMAN 08:00 Registration 09:00 OPENING by the conference chairman Nick PENTHEROUDAKIS President, Hellenic Shipbrokers Association Chairman, Cosmos Shipping Co.S.A., Greece 09:10 WELCOME by Christos PAPOUTSIS Minister of Mercantile Marine, Greece 09:20 Peter KITCHING Chairman, The Baltic Exchange Chairman, Simpson, Spence & Young, UK 09:30 John LYRAS President Union of Greek Shipowners 09:40 Ary VIJFVINKEL Chairman, Dutch Shipbrokers Society Manager, Vertom Shipping B.V., The Netherlands 09:50 Spyros ALEXANDRATOS President Hellenic Chamber of Shipping SESSION 2 A D A P T I N G T O A N E W ENVIRONMENT Can a broker add value to a fixture? The Internet: The New Tool, or Just Another Myth? Brokers acting in good faith, but without guarantee. Is this sufficient for a viable future? 10:00 Speaker to be announced (SHIPOWNERS' VIEW) Shipowner 10:15 Willem MEIER (CHARTERERS' VIEW) General Manager Alfred C. Toepfer International GmbH, Germany 10:30 Takis CHRISTOFIDES (SHIPBROKERS' VIEW) Managing Director Carriers Chartering Corp. S.A., Greece 10:45 Alex GRAY Executive Director Clarksons, UK 11:00 Stephen ASKINS Partner Law Office Weiss, Elvey & Askins in association with Ince & Co. 11:15 Discussion 11:45 Break

SESSION 3 M A R K E T REQUIREMENTS An Examination of Three Species of Shipbrokers: The One Man Show, The Small Business, The Big Corporation The Successful S&P Broker: Yesterday, Today & Tomorrow The Need for the Tanker Broker in an IT Environment Can the Shipbrokers Responsibilities be Insured? 12:15 Andrea MOLASCHI Panamax Chartering Executive IFCHOR, Switzerland 12:30 George BANOS Vice President George Moundreas & Company S.A, Greece 12:45 Nicos HADJIPATERAS Tanker Broker Dietze & Associates, L.L.C., USA 13:00 Andrew JAMIESON Director / Legal Advisor ITIC, UK 13:15 Discussion 13:45 Lunch SESSION 4 SHIPBROKERS: PROTECTION, HUMAN RESOURCES & ETHICS Securing the Payment of Commissions Protecting Brokers from Non-Good Faith Principals How can shipbrokers' associations assist their members? An Examination of Human Resources in the Shipbroking Industry Today's Motto: "My word is my bond" - What about tomorrow? 14:45 John REECE Solicitor Law office HOBBS in association with NORTON ROSE 15:00 Patrick Henry HAWKINS Solicitor HILL TAYLOR DICKINSON, Greece 15:15 Even P. JOHANSEN President, Association of Ship Brokers & Agents (ASBA, U.S.A., Inc.) and President/CEO, Odin Marine Group USA 15:30 Eugenio De PAOLIS Shipbroker BULK MARE SRL, Italy 15:45 Nico J. COTZIAS OBE Former President, Hellenic Shipbrokers Association Former President, "F.O.N.A.S.B.A." Chairman, PF N.Cotzias (Shipping) Co. LTD, Greece 16:00 Break 16:30 Discussion 17:30 CONCLUSIONS and CLOSING OF THE CONFERENCE 18:00 COCKTAILS

Mare Forum, organisers of the influential Mare Forum conferences, specialises in conference management, project development and policy marketing. Mare Forum s goal as a professional conference organisation is to bring together policy makers and chief executives of industry in a decisive dialogue and debate, where business strategy and policy-making for today and tomorrow s issues can be realised with optimal results. Mare Forum has frequently created groundbreaking and progressive concepts, developing them into conferences on an international level, and drawing worldwide attention. The Hellenic Shipbrokers Association was founded in 1975, and clearly serves as a professional, non profitmaking organisation which has as targets: -The coordination of certain actions in order to protect its members' benefits. -The promotion and improvement of the right functioning of the Hellenic Shipbrokers' profession. -The coordination and development of Shipping subjects in combination with the Ministry of Merchant Marine, the Hellenic Chamber of Shipping, the Union of Greek Shipowners, the Greek Agents Associations etc. The international conferences of Mare Forum have attracted the active participation of governmental officers, policy makers and businessmen, and have resulted in the creation of new policy, effective networks and fresh perspectives of the future. Mare Forum collaborates with a large scope of international organisations, and in the process of expanding its research and promoting new projects, maintains an active network of forward-thinking, high-level individuals in a range of sectors. Contact information: Beurs - World Trade Center P.O. Box 30027 3001 DA Rotterdam The Netherlands Tel.: +31.10.205.7455 Fax: +31.10.205.5655 E-mail: info@mareforum.com Visit our website at www.mareforum.com HELLENIC SHIPBROKERS ASSOCIATION 20-22 Ir. Polytechniou Av. P.O.Box 80117, GR-185 10 Piraeus Hellas (Greece) Phone: +30 1 4220055 Fax: +30 1 4220057 Telex: 211643 hsa gr e-mail: hsa@hsa.gr Visit our website at: http://www.hsa.gr/ More current information concerning the conference can be found on our website at http://www.mareforum.com

G E N E R A L I N F O R M A T I O N DATE & LOCATION Thursday June 21st 2001 at the Hotel Athenaeum Intercontinental located at 89-93 Syngrou Avenue, Athens Greece. ORGANISATION This conference is co-organised by Mare Forum and the Hellenic Shipbrokers Association. REGISTRATION All participants who wish to attend the conference must be registered. Please note that formal registration only takes place after the registration fee has been received and recorded on our accounts. Participants are requested to return one registration form per participant to by fax, or by mail, at the fax number and address listed below, before the deadline of June 10th, 2001. Please keep a copy of the form, and your payment, for your records. CONFIRMATION A formal letter of confirmation will be sent to you after receipt of your registration form and payment. Please present this confirmation at the registration desk at the conference venue as proof of your registration. REGISTRATION FEES Person-restricted pass: 250,- EURO plus (18% VAT) Total Amount Due: EURO 295,- The fee includes conference attendance and documentation, refreshments and luncheon during scheduled breaks in the conference programme. Please note that a Person - Restricted Pass means that only the registered participant will be admitted for any of the activities of the conference. A Person Restricted Pass for conference participation may not be shared by more than one person. PAYMENT PROCEDURE Payment for participation in the conference must be made in EURO's by bank transfer to bank account nr. 065.21.54.646 / ING Bank, Rotterdam, The Netherlands Swift Code: INGBNL2A The account belongs to B.V. Please make sure that your FULL NAME and the reference code "SBF2001" accompany your payment. All payments must be free of bank and other charges. If your payment has not been received before the conference and no proof of bank transfer can be provided, on-site payment will be requested. CANCELLATIONS Should you be unable to attend the conference, a substitute participant is always welcome at no extra charge if he/she carries a letter of authorisation from the original participant and if the conference office has been notified of the name of the substitute participant before the conference. Refunds will be dealt with after the conference. Cancellation before June10th 2001 EURO 100, - handling fee Cancellation after June 10th 2001 no refunds, full payment required INSURANCE The conference organisation cannot accept any liability for personal injuries or for the loss of and/or damage to personal belongings of the participants, either during or as a result of the conference. Please check the validity of your personal insurance. INFORMATION Ms. Catherine Kalamidas M A R E Beurs-World Trade Center P. O. Box 30027 3001 DA Rotterdam The Netherlands Tel: +31.10.205.7455 Fax: +31.10.205.5655 e-mail: info@mareforum.com