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OFFICIAL PANAMA CANAL AUTHORITY 1060.0000 CN MW 1/1/98 1/1/01 PILOTAGE General: (1) Pilotage is charged at fees and is subject to the conditions contained in this tariff section. Pilotage services are furnished under the follow ing general classes: Transit Pilotage, Port Pilotage, Offshore and Miscellaneous Pilotage, and Special and Additional Pilotage. Within each class any and/or all of the follow ing subclasses may exist: Regular, Additional, Special, Delays, Aborted Pilotage Assignments and Unauthorized Movements Charge. (2) There w ill be no charge w hen the pilotage involves movements or services rendered for operational needs of the Panama Canal Authority. (3) Normally, pilotage is not charged to non-commercial vessels registered in the Republic of Panama that are under 65 feet in length and draw ing six feet or less of w ater, plying only betw een the Canal entrances and ports in Balboa or Cristobal. These vessels must be operated by personnel licensed to operate vessels in Canal Waters. Transit Pilotage: 1060.0010 MW 10/1/12 (1) There is no charge for regular transit pilotage. Regular transit pilotage is considered to be a pilotage assignment w hich takes place w hen the transit begins in Canal w aters, to include from an anchorage, mooring or dock, and the pilot s subsequent disembarkment w ithin Canal w aters, except in the case of an aborted transit as described in paragraph 3. For purposes of this tariff, Canal w aters are defined as being betw een the Breakw ater on the Atlantic side and the Sea Buoy on the Pacific side.. (2) For transits in w hich the pilot is requested or required to board or debark the vessel beyond the terminal points mentioned above, a charge w ill be assessed using Offshore Pilotage (Tariff Item 1060.5060), plus Launch Service (Tariff Item 1800.0100).

OFFICIAL PANAMA CANAL AUTHORITY PILOTAGE (Cont.) (3) If a vessel begins a transit, and through no fault of the Panama Canal Authority the transit is aborted, the vessel shall be charged for port pilotage (Tariff Item 1060.5010), plus Launch Service (Tariff Item 1800.0090) and Channel Fee (Tariff Item 1070.0010), if applicable. For purposes of this section, an aborted transit has occurred w hen a transit is canceled anyw here betw een the point the vessel got underw ay and up until the vessel stops, as long as the vessel has not initiated its transit of one set of locks. When a vessel initiates a transit through one set of locks, the vessel shall pay the prescribed tollsl, in addition to any other charges incurred. (4) If, after transiting the Canal, the pilot is requested or required to dock, moor, or anchor the vessel, the vessel shall pay the fee for Port Pilotage (Tariff Item 1060.5010), plus Launch Service (Tariff Item 1800.0100), if applicable. Delay: When a pilot is assigned to a vessel and the vessel is not ready to move at or about the scheduled pilot time due to no fault of the Panama Canal Authority, the vessel shall be charged for delay in addition to Launch Service (Tariff Item 1800.0090) if applicable. 1060.0022 AR 04/01/16 Delay, related to transit moves for vessels w ith length overall (LOA) greater than 125 feet, per pilot required $ 700.00 1060.0023 AR 04/01/16 Delay, related to transit moves for vessels w ith length overall (LOA) equal to or less than 125 feet. $ 471.00

OFFICIAL PANAMA CANAL AUTHORITY Grace Period: (1) The grace period for the application of the delay tariff in the case of movements to and from the ports is the follow ing: (A) Four hours before the programmed lockage upon receipt of the notification of the time change at w hich the vessel is ready to move (" ready time" ). (B) If the pilot is already on board, thirty (30) minutes counting from the moment the pilot notifies that the vessel is not ready to begin or continue its transit, and due to this delay, the vessel cannot make the programmed lockage. (2) The grace period before applying delay charges for port movements involves the follow ing: (A) For movements tow ards the ports, notification of the time change in w hich the vessel deems it is ready to move (" ready time" ) w ith less than tw o hours before the programed pilot boarding time. (B) For movements from the ports, notification of the time change in w hich the vessel deems it is ready to move (" ready time" ), w ith less than one hour before the programmed pilot boarding time. (C) When the pilot is on board, thirty minutes starting from the time the vessel is not ready to move. Note: Delay shall not be charged in the case of vessels going to the Gatun Yatch Club. Special Pilotage Service by assignment When a special or additional pilot service is requested w hich requires a pilot assignment, the follow ing tariffs shall apply: tariffs por requests made before 0500 hours for jobs betw een 0701 hours the same day and 0700 hours the follow ing day. A minimum of 2 hours prior notice is required and the service w ill be provided subject to resource availability. 1060.0041 AR 04/01/16 For port movements - the assignment duration w ill be according to the job to be performed ---------------------------- $ 2,410.00 1060.0042 AR 04/01/16 For commercial dredging equipment or jobs requiring a piot onboard during a shift (up to 8 hours) ------------------ $ 2,410.00 1060.0043 AR 04/01/16 For transiting vessels w ith deficiencies ------------------------------ $ 2,410.00

OFFICIAL PRACTICAJE (Cont.) 1060.0046 AR 04/01/16 1060.0047 AR 04/01/16 Tariff for requests after 0500 hours for jobs betw een 0701 hours the same day and 0700 hours the follow ing day. A minimum of tw o hours prior notice is required and the service w ill be provided subject to resource availability. For port movementss - assignment duration w ill be according to the job to be performed --------------------------------- For commercial dredging equipment or jobs requiring a pilot onboard during a shift (up to 8 hours) ---------------------------- $ 4,815.00 $ 4,815.00 1060.0048 AR 04/01/16 For transiting vessels w ith deficiencies -------------- $ 4,815.00 1060.5000 MW 1-Oct-12 Practicaje de Puerto: (1) A vessel w hich uses port facilities (docks, moorings, and either anchorage) shall pay pilotage for entering or exiting the delimiting points of Canal w aters, w ith the follow ing exceptions: (a) No charge w ill be made w hen the out-pilotage involves an immediate transit of the Canal, (b) no charge w ill be made w hen a local vessel plying betw een ports of the Republic of Panama has received w ritten permission from the Manager, Transit Operations Division, to operate the vessel w ithout a Panama Canal Authority pilot on board, and (c) a vessel that is shifting from one berth, mooring or anchorage location to another in the same port, including shifting alongside, shall be charged for a single movement. (2) Charges for Port Pilotage are in addition to applicable special and additional pilotage service, and shall be assessed w hether the same or another pilot performs the service. Port Pilotage charges cover the use of a single pilot. In the event that the movement requires the use of more than one pilot, the additional resources w ill be covered under a separate charge. Port pilotage delays are in addition to the applicable port pilotage rate.

OFFICIAL (3) Launch transportation for Port Pilotage service shall be charged under Tariff Item 1800.0100. (4) Channel Fee for local call vessels shall be charged under Tariff Item 1070.0000. 1060.5010 (5) Port Pilotage rates per foot of maximum draft, or fraction of a foot (six inches or over) are as follow s: 1060.5020 1060.5030 1060.5040 1060.5045 Under 20 feet---------------------------------------------------------- 20 feet and under 30 feet ----------------------------------------- 30 feet and under 40 feet ----------------------------------------- 40 feet and over ------------------------------------------------------ $ 29.00 $ 37.00 $ 43.00 $ 48.00 Port Pilotage: 1060.5050 MR 10/1/2001 1060.5055 AR 04/01/16 (6) Charge for Unauthorized Movement: A charge of 200% of the Port Pilotage (Tariff Item 1060.5010) for a single movement shall be applied to vessels that proceed to make an unauthorized movement in Canal w aters. Delay, related to port movements, por pilot assigned $ 400.00 The grace period for delay charges related to port movements is as follow s: (a) For movements tow ards the ports, notification of the time change for w hich the vessel deems it w ill be ready to move (" ready time" ) w ith less than tw o hours prior tw o the programmed time to receive the pilot. (b) For movements from the ports, notification of the time change for w hich the vessels is deemed to move w ith less than 1 hour prior to the programmed time to receive the pilot. (c) When the pilot is onboard the vessel, 30 minutes counting from the time the vessel is not ready to

OFFICIAL Offshore and Miscellaneous Pilotage: 1060.5060 CN 10/1/1998 Offshore Pilotage: In addition to any aplicable pilotage charges, offshore pilotage shall be charged to vessels w hich require or request the pilot to board or debark outside the Atlantic Breakw ater or outside Pacific Sea Buoy, at rates under Port Pilotage (tariff item 1060.5010), plus Launch Service (tariff item 1800.0100). 1060.5070 MR MW 10/1/2001 Dock and Sea Trial: Pilotage shall be charged for the services of each pilot assigned to a vessel during dock and sea trial, according to tariff item 1060.5010, plus Launch Service (tariff item1800.0100). 1060.5080 MR MW 10/1/2012 Mooring: A pilotage charge w ill be assessed w hen a vessel makes use of Panama Canal Authority s moorings, except w hen it relates to operational or efficiency requirements associated w ith the transit, according to tariff item 1060.5010, plus Launch Service (tariff item 1800.0100), if applicable. Servicios Especiales de Practicaje: 1060.5090 MW 03/01/08 Hourly Pilotage Service w hen transit or lockage is not required: Minimum charge shall be for tw o hours from the time the pilot is on board the vessel (requested by the client) until the time movement is finalized; each half-hour or fraction thereof over the minimum shall be for one-half of the hourly rate, plus launch service (tariff item 1800.0100) if applicable. $300.00 Note: The minimum charge for this service w ill be in addition to any applicable launch (tariff item 1800.0100), port pilotage (tariff item 1060.5010) or delay charges (tariff item 1060.0020).

OFFICIAL Visibility Charge: For full container vessels of 700 feet or greater length overall (LOA) w ith visibility conditions for transit above 1.0 lengths w en laden, or greater than 1.5 lengths w hen in ballast. 1060.5100 MW 04/01/16 a) If a vessel notifies the ACP about its visibility condition for transit with at least 36 hours prior to arrival ----------------- $4,000.00 Note: Modifications to the visibility conditions for transit w ill be accepted w ithout charge, as long as they are received at least 36 hours prior to arrival. How ever, the charge w ill remain if notification is received w ith less than 36 hours prior to arrival.. 1060.5110 MW 04/01/16 b) If a vessel notifies the ACP about its visibility conditions w ith less than 36 hours of prior to arrival or if the condition is identifies after arrival ----------------- $8,000.00 Note: If the conditions is discovered or the notification is received w ith less than 36 hours before arrival, the vessel w ill be charged $8,000, in addition to other possible charges for delays and other charges. If there is a delay attributable to the vessel w hich requires additional resources, other charges w ill be applied