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454.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 365.75 442.75 m 468.75 442.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 365.75 440.75 m 468.75 440.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 468.75 454.75 m 472.75 454.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 468.75 442.75 m 472.75 442.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 468.75 440.75 m 472.75 440.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 472.75 454.75 m 563.75 454.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 472.75 442.75 m 563.75 442.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 472.75 440.75 m 563.75 440.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 365.75 337.75 m 468.75 337.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 468.75 337.75 m 472.75 337.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 472.75 337.75 m 563.75 337.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 365.75 337.75 m 468.75 337.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 365.75 324.75 m 468.75 324.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 468.75 337.75 m 472.75 337.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 468.75 324.75 m 472.75 324.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 472.75 337.75 m 563.75 337.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 472.75 324.75 m 563.75 324.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 365.75 298.75 m 468.75 298.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 468.75 298.75 m 472.75 298.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 472.75 298.75 m 563.75 298.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 365.75 298.75 m 468.75 298.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 468.75 298.75 m 472.75 298.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 472.75 298.75 m 563.75 298.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 365.75 285.75 m 468.75 285.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 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178.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 468.75 180.75 m 472.75 180.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 468.75 178.75 m 472.75 178.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 472.75 180.75 m 563.75 180.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 472.75 178.75 m 563.75 178.75 l s BT /F1 10.00 Tf ET q 0 0 0 rg BT 71.25 673.42 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 375.00 673.43 Td (September) Tj ET Q q 0 0 0 rg BT 421.01 673.43 Td ( 30, 2018) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 477.40 673.43 Td (December) Tj ET Q q 0 0 0 rg BT 520.52 673.43 Td ( 31, 2017) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 71.25 660.83 Td (ASSETS:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 368.25 659.32 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 71.25 647.83 Td (Curr) Tj ET Q q 0 0 0 rg BT 88.51 647.83 Td (ent assets:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 368.25 646.32 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 71.25 634.70 Td (Cash and 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Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 433.55 582.00 Td (7,843,390) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 528.55 582.00 Td (7,174,889) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 71.25 569.70 Td (Other current assets) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 439.55 569.00 Td (606,402) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 534.55 569.00 Td (126,837) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 71.25 556.70 Td (T) Tj ET Q q 0 0 0 rg BT 75.86 556.70 Td (otal current assets) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 429.55 556.00 Td (47,954,433) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 524.55 556.00 Td (25,473,914) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 71.25 543.83 Td (Noncurr) Tj ET Q q 0 0 0 rg BT 100.51 543.83 Td (ent assets:) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 368.25 543.00 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 71.25 530.70 Td (V) Tj ET Q q 0 0 0 rg BT 76.58 530.70 Td (essels and vessel improvements, at cost, net of accumulated depreciation of) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 71.25 522.70 Td ($81,098,131 and $70,558,905, respectively) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 425.55 524.00 Td (342,955,039) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 520.55 524.00 Td (366,054,562) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 71.25 511.70 Td (Deferred drydocking costs, net) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 433.55 511.00 Td (6,775,979) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 528.55 511.00 Td (6,765,953) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 71.25 498.70 Td (Restricted cash) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 429.55 498.00 Td (10,832,675) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 552.55 498.00 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 71.25 485.70 Td (Deferred financing costs - Super Senior Revolver Facility) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 439.55 485.00 Td (285,342) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 534.55 485.00 Td (190,000) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 71.25 472.70 Td (Other ) Tj ET Q q 0 0 0 rg BT 91.24 472.70 Td (Assets) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 433.55 472.00 Td (1,548,809) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 552.55 472.00 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 71.25 459.70 Td (T) Tj ET Q q 0 0 0 rg BT 75.86 459.70 Td (otal noncurrent assets) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 425.55 459.00 Td (362,397,844) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 520.55 459.00 Td (373,010,515) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 71.25 446.83 Td (T) Tj ET Q q 0 0 0 rg BT 76.22 446.83 Td (otal assets) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 368.25 446.00 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 425.55 446.00 Td (410,352,277) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 475.25 446.00 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 520.55 446.00 Td (398,484,429) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 71.25 433.83 Td (LIABILITIES & MEMBER'S EQUITY) Tj ET Q q 0 0 0 rg BT 208.03 433.83 Td (:) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 368.25 433.00 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 71.25 420.83 Td (Curr) Tj ET Q q 0 0 0 rg BT 88.51 420.83 Td (ent liabilities:) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 368.25 420.00 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 71.25 407.70 Td (Accounts payable) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 368.25 407.00 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 433.55 407.00 Td (3,852,923) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 475.25 407.00 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 528.55 407.00 Td (3,448,101) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 71.25 394.70 Td (Accrued interest) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 433.55 394.00 Td (5,736,500) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 528.55 394.00 Td (1,566,333) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 71.25 381.00 Td (Fair value of derivatives) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 439.55 381.00 Td (275,670) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 538.55 381.00 Td (73,170) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 71.25 368.70 Td (Other accrued liabilities) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 433.55 368.00 Td (3,037,303) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 528.55 368.00 Td (5,031,517) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 71.25 355.70 Td (Unearned charter hire revenue) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 433.55 355.00 Td (3,406,703) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 528.55 355.00 Td (2,916,029) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 71.25 342.70 Td (Current portion of long-term debt - Norwegian Bond Debt) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 433.55 342.00 Td (8,000,000) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 528.55 342.00 Td (4,000,000) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 71.25 329.70 Td (T) Tj ET Q q 0 0 0 rg BT 75.86 329.70 Td (otal current liabilities) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 429.55 329.00 Td (24,309,099) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 524.55 329.00 Td (17,035,150) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 71.25 316.83 Td (Noncurr) Tj ET Q q 0 0 0 rg BT 100.51 316.83 Td (ent liabilities:) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 368.25 316.00 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 71.25 303.70 Td (Norwegian Bond Debt, net of debt discount and debt issuance costs) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 425.55 303.00 Td (186,702,844) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 520.55 303.00 Td (189,950,329) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 71.25 290.70 Td (T) Tj ET Q q 0 0 0 rg BT 75.86 290.70 Td (otal noncurrent liabilities) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 425.55 290.00 Td (186,702,844) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 520.55 290.00 Td (189,950,329) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 71.25 277.83 Td (T) Tj ET Q q 0 0 0 rg BT 76.22 277.83 Td (otal liabilities) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 425.55 277.00 Td (21) Tj ET Q q 0 0 0 rg BT 433.55 277.00 Td (1,01) Tj ET Q q 0 0 0 rg BT 447.55 277.00 Td (1,943) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 520.55 277.00 Td (206,985,479) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 71.25 264.70 Td (Commitment and 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Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 583.32 Td (V) Tj ET Q q 0 0 0 rg BT 74.08 583.32 Td (oyage expenses) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 245.15 583.32 Td (7,067,526) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 333.15 583.32 Td (5,548,883) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 413.15 583.32 Td (22,701,040) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 505.15 583.32 Td (19,293,966) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 569.32 Td (V) Tj ET Q q 0 0 0 rg BT 74.17 569.32 Td (essel expenses) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 240.15 569.32 Td (1) Tj ET Q q 0 0 0 rg BT 245.15 569.32 Td (1,594,245) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 328.15 569.32 Td (12,148,657) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 413.15 569.32 Td (36,344,034) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 505.15 569.32 Td (37,680,447) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 555.32 Td (Depreciation and amortization) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 245.15 555.32 Td (5,227,302) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 333.15 555.32 Td (5,133,024) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 413.15 555.32 Td (15,682,926) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 505.15 555.32 Td (15,058,840) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 540.42 Td (General and administrative) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 530.42 Td (expenses) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 245.15 530.42 Td (4,003,156) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 333.15 530.42 Td (4,367,978) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 413.15 530.42 Td (1) Tj ET Q q 0 0 0 rg BT 418.15 530.42 Td (1,555,878) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 505.15 530.42 Td (12,217,850) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 515.42 Td (Gain on sale of vessels) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 249.30 515.42 Td (\(235,695) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 285.15 515.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 363.15 515.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 422.30 515.47 Td (\(235,695) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 458.15 515.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.15 515.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 498.42 Td (T) Tj ET Q q 0 0 0 rg BT 73.26 498.42 Td (otal operating expenses) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 240.15 498.42 Td (27,656,534) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 328.15 498.42 Td (27,198,542) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 413.15 498.42 Td (86,048,183) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 505.15 498.42 Td (84,251,103) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 464.42 Td (Operating income/\(loss\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 245.15 464.42 Td (8,558,609) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 329.80 464.47 Td (\(2,039,854) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 373.15 464.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 413.15 464.42 Td (21,31) Tj ET Q q 0 0 0 rg BT 435.65 464.42 Td (1,120) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 506.80 464.47 Td (\(3,786,140) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 550.15 464.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 436.32 Td (Interest expense) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 245.15 436.32 Td (4,569,562) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 363.15 436.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 413.15 436.32 Td (13,467,052) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.15 436.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 420.42 Td (Interest income) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 254.30 420.42 Td (\(24,205) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 285.15 420.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 363.15 420.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 427.30 420.47 Td (\(47,084) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 458.15 420.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.15 420.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 404.42 Td (Other expense, net) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 262.65 404.42 Td (6,897) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 337.30 404.47 Td (\(184,540) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 373.15 404.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.65 404.42 Td (49,768) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 514.30 404.47 Td (\(184,540) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 550.15 404.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 390.32 Td (T) Tj ET Q q 0 0 0 rg BT 73.26 390.32 Td (otal other expenses, net) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 245.15 390.32 Td (4,552,254) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 337.30 390.37 Td (\(184,540) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 373.15 390.32 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 413.15 390.32 Td (13,469,736) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 514.30 390.37 Td (\(184,540) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 550.15 390.32 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 375.42 Td (Net income/\(loss\) and) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 365.42 Td (comprehensive income/\(loss\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 206.50 365.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 245.15 365.42 Td (4,006,355) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 295.50 365.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 329.80 365.47 Td (\(1,855,314) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 373.15 365.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 383.50 365.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 418.15 365.42 Td (7,841,384) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 468.50 365.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 506.80 365.47 Td (\(3,601,600) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 550.15 365.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 325.25 Td ( ) Tj ET Q q 0 0 0 rg BT 86.00 325.25 Td ( ) Tj ET Q q 0 0 0 rg BT 122.00 325.25 Td (The accompanying notes are an integral part of these Condensed Consolidated Financial Statements) Tj ET Q endstream endobj 11 0 obj <> endobj 12 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 19.60 Td ( ) Tj ET Q q 0 0 0 rg BT 86.00 19.60 Td ( ) Tj ET Q q 0 0 0 rg BT 122.00 19.60 Td ( ) Tj ET Q q 0 0 0 rg BT 158.00 19.60 Td ( ) Tj ET Q q 0 0 0 rg BT 194.00 19.60 Td ( ) Tj ET Q q 0 0 0 rg BT 230.00 19.60 Td ( ) Tj ET Q q 0 0 0 rg BT 266.00 19.60 Td ( ) Tj ET Q q 0 0 0 rg BT 302.00 19.60 Td (F-3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 742.10 Td ( ) Tj ET Q q 0 0 0 rg BT 86.00 742.10 Td ( ) Tj ET Q q 0 0 0 rg BT 122.00 742.10 Td ( ) Tj ET Q q 0 0 0 rg BT 158.00 742.10 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 194.00 742.10 Td (EAGLE BULK SHIPCO LLC ) Tj ET Q q 0 0 0 rg BT 325.70 742.10 Td (AND SUBSIDIARIES) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 718.10 Td ( ) Tj ET Q q 0 0 0 rg BT 86.00 718.10 Td ( ) Tj ET Q q 0 0 0 rg BT 122.00 718.10 Td (CONDENSED CONSOLIDA) Tj ET Q q 0 0 0 rg BT 247.11 718.10 Td (TED ST) Tj ET Q q 0 0 0 rg BT 281.66 718.10 Td (A) Tj ET Q q 0 0 0 rg BT 288.14 718.10 Td (TEMENT) Tj ET Q q 0 0 0 rg BT 331.30 718.10 Td ( OF) Tj ET Q q 0 0 0 rg BT 347.32 718.10 Td ( CHANGES IN MEMBER'S EQUITY) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 706.10 Td ( ) Tj ET Q q 0 0 0 rg BT 86.00 706.10 Td ( ) Tj ET Q q 0 0 0 rg BT 122.00 706.10 Td ( ) Tj ET Q q 0 0 0 rg BT 158.00 706.10 Td ( ) Tj ET Q q 0 0 0 rg BT 194.00 706.10 Td ( ) Tj ET Q q 0 0 0 rg BT 230.00 706.10 Td ( ) Tj ET Q q 0 0 0 rg BT 266.00 706.10 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 302.00 706.10 Td (\(Unaudited\)) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 63.50 683.60 173.00 -30.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 236.50 683.60 75.00 -30.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 311.50 683.60 75.00 -30.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 386.50 683.60 5.00 -30.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 391.50 683.60 75.00 -30.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 466.50 683.60 4.00 -30.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 470.50 683.60 77.00 -30.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 63.50 638.60 173.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 236.50 638.60 75.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 311.50 638.60 75.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 386.50 638.60 5.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 391.50 638.60 75.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 466.50 638.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 470.50 638.60 77.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 63.50 607.60 173.00 -17.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 236.50 607.60 75.00 -17.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 311.50 607.60 75.00 -17.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 386.50 607.60 5.00 -17.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 391.50 607.60 75.00 -17.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 466.50 607.60 4.00 -17.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 470.50 607.60 77.00 -17.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 236.5 683.6 m 311.5 683.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 236.5 653.6 m 311.5 653.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 311.5 683.6 m 386.5 683.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 311.5 653.6 m 386.5 653.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 386.5 683.6 m 391.5 683.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 386.5 653.6 m 391.5 653.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 391.5 683.6 m 466.5 683.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 391.5 653.6 m 466.5 653.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 466.5 683.6 m 470.5 683.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 466.5 653.6 m 470.5 653.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 470.5 683.6 m 547.5 683.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 470.5 653.6 m 547.5 653.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 391.5 607.6 m 466.5 607.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 236.5 607.6 m 311.5 607.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 236.5 591.6 m 311.5 591.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 236.5 589.6 m 311.5 589.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 311.5 607.6 m 386.5 607.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 311.5 591.6 m 386.5 591.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 311.5 589.6 m 386.5 589.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 386.5 607.6 m 391.5 607.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 386.5 591.6 m 391.5 591.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 386.5 589.6 m 391.5 589.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 391.5 607.6 m 466.5 607.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 391.5 591.6 m 466.5 591.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 391.5 589.6 m 466.5 589.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 466.5 607.6 m 470.5 607.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 466.5 591.6 m 470.5 591.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 466.5 589.6 m 470.5 589.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 470.5 607.6 m 547.5 607.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 470.5 591.6 m 547.5 591.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 470.5 589.6 m 547.5 589.6 l s BT /F2 10.00 Tf ET q 0 0 0 rg BT 239.00 668.28 Td (Common shar) Tj ET Q q 0 0 0 rg BT 299.74 668.28 Td (es) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 257.10 658.28 Td (amount) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 315.85 658.28 Td (Paid-in Capital) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 400.15 668.28 Td (Accumulated) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 414.30 658.28 Td (Deficit) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 474.65 668.28 Td (T) Tj ET Q q 0 0 0 rg BT 480.40 668.28 Td (otal Member's) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 494.00 658.28 Td (Equity) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 66.00 629.17 Td (Balance at December 31, 2017 *) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 297.65 629.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 314.00 629.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 332.65 629.17 Td (365,592,997) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 394.00 629.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 409.30 629.22 Td (\(174,094,047) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 462.65 629.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 473.00 629.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 493.65 629.17 Td (191,498,950) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 66.00 612.27 Td (Net income) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 297.65 612.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 372.65 612.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 422.65 612.27 Td (7,841,384) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 503.65 612.27 Td (7,841,384) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 66.00 595.27 Td (Balance at September 30, 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 297.65 595.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 314.00 595.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 332.65 595.27 Td (365,592,997) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 394.00 595.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 409.30 595.32 Td (\(166,252,663) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 462.65 595.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 473.00 595.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 493.65 595.27 Td (199,340,334) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 567.10 Td (* ) Tj ET Q q 0 0 0 rg BT 57.32 567.10 Td (The opening retained earnings has been adjusted on January 1, 2018 in connection with adoption of ) Tj ET Q q 0 0 0 rg BT 457.50 567.10 Td (Accounting Standards ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 555.10 Td (Update 2014-09 \("ASC 606"\). Please refer to Note 2 "Recently ) Tj ET Q q 0 0 0 rg BT 304.69 555.10 Td (Adopted ) Tj ET Q q 0 0 0 rg BT 341.07 555.10 Td (Accounting Pronouncements" to the condensed ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 543.10 Td (consolidated financial statements.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 519.10 Td ( ) Tj ET Q q 0 0 0 rg BT 86.00 519.10 Td ( ) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 63.50 508.60 173.00 -30.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 236.50 508.60 75.00 -30.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 311.50 508.60 75.00 -30.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 386.50 508.60 5.00 -30.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 391.50 508.60 75.00 -30.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 466.50 508.60 4.00 -30.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 470.50 508.60 77.00 -30.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 63.50 463.60 173.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 236.50 463.60 75.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 311.50 463.60 75.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 386.50 463.60 5.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 391.50 463.60 75.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 466.50 463.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 470.50 463.60 77.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 63.50 432.60 173.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 236.50 432.60 75.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 311.50 432.60 75.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 386.50 432.60 5.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 391.50 432.60 75.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 466.50 432.60 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 470.50 432.60 77.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 63.50 382.60 173.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 236.50 382.60 75.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 311.50 382.60 75.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 386.50 382.60 5.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 391.50 382.60 75.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 466.50 382.60 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 470.50 382.60 77.00 -25.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 236.5 508.6 m 311.5 508.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 236.5 478.6 m 311.5 478.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 311.5 508.6 m 386.5 508.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 311.5 478.6 m 386.5 478.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 386.5 508.6 m 391.5 508.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 386.5 478.6 m 391.5 478.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 391.5 508.6 m 466.5 508.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 391.5 478.6 m 466.5 478.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 466.5 508.6 m 470.5 508.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 466.5 478.6 m 470.5 478.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 470.5 508.6 m 547.5 508.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 470.5 478.6 m 547.5 478.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 236.5 357.6 m 311.5 357.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 236.5 341.6 m 311.5 341.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 236.5 339.6 m 311.5 339.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 311.5 357.6 m 386.5 357.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 311.5 341.6 m 386.5 341.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 311.5 339.6 m 386.5 339.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 391.5 357.6 m 466.5 357.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 391.5 341.6 m 466.5 341.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 391.5 339.6 m 466.5 339.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 470.5 357.6 m 547.5 357.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 470.5 341.6 m 547.5 341.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 470.5 339.6 m 547.5 339.6 l s BT /F2 10.00 Tf ET q 0 0 0 rg BT 239.00 493.28 Td (Common shar) Tj ET Q q 0 0 0 rg BT 299.74 493.28 Td (es) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 257.10 483.28 Td (amount) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 315.85 483.28 Td (Paid-in Capital) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 400.15 493.28 Td (Accumulated) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 414.30 483.28 Td (Deficit) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 474.65 493.28 Td (T) Tj ET Q q 0 0 0 rg BT 480.40 493.28 Td (otal Member's) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 494.00 483.28 Td (Equity) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 66.00 454.17 Td (Balance at December 31, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 297.65 454.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 314.00 454.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 332.65 454.17 Td (551,480,183) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 394.00 454.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 409.30 454.22 Td (\(173,088,883) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 462.65 454.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 473.00 454.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 493.65 454.17 Td (378,391,300) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 66.00 437.27 Td (Net loss) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 297.65 437.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 372.65 437.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 419.30 437.32 Td (\(3,601,600) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 462.65 437.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 500.30 437.32 Td (\(3,601,600) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.65 437.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 66.00 422.27 Td (Capital contribution of services by the) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 66.00 412.27 Td (Parent Company) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 297.65 412.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 337.65 412.27 Td (12,217,850) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 452.65 412.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 498.65 412.27 Td (12,217,850) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 66.00 397.27 Td (Cash capital contribution by the Parent) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 66.00 387.27 Td (Company) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 297.65 387.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 337.65 387.27 Td (17,209,120) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 452.65 387.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 498.65 387.27 Td (17,209,120) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 66.00 372.27 Td (Cash capital distribution to the Parent) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 66.00 362.27 Td (Company) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 297.65 362.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 334.30 362.32 Td (\(12,918,323) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 382.65 362.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 394.00 362.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 452.65 362.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 473.00 362.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.30 362.32 Td (\(12,918,323) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.65 362.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 66.00 345.27 Td (Balance at September 30, 2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 297.65 345.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 314.00 345.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 332.65 345.27 Td (567,988,830) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 394.00 345.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 409.30 345.32 Td (\(176,690,483) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 462.65 345.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 473.00 345.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 493.65 345.27 Td (391,298,347) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 317.10 Td ( ) Tj ET Q q 0 0 0 rg BT 86.00 317.10 Td ( ) Tj ET Q q 0 0 0 rg BT 122.00 317.10 Td (The accompanying notes are an integral part of these Condensed Consolidated Financial Statements) Tj ET Q endstream endobj 13 0 obj <> endobj 14 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 19.60 Td ( ) Tj ET Q q 0 0 0 rg BT 86.00 19.60 Td ( ) Tj ET Q q 0 0 0 rg BT 122.00 19.60 Td ( ) Tj ET Q q 0 0 0 rg BT 158.00 19.60 Td ( ) Tj ET Q q 0 0 0 rg BT 194.00 19.60 Td ( ) Tj ET Q q 0 0 0 rg BT 230.00 19.60 Td ( ) Tj ET Q q 0 0 0 rg BT 266.00 19.60 Td ( ) Tj ET Q q 0 0 0 rg BT 302.00 19.60 Td (F-4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 730.10 Td ( ) Tj ET Q q 0 0 0 rg BT 86.00 730.10 Td ( ) Tj ET Q q 0 0 0 rg BT 122.00 730.10 Td ( ) Tj ET Q q 0 0 0 rg BT 158.00 730.10 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 194.00 730.10 Td (EAGLE BULK SHIPCO LLC ) Tj ET Q q 0 0 0 rg BT 325.70 730.10 Td (AND SUBSIDIARIES) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 706.10 Td ( ) Tj ET Q q 0 0 0 rg BT 86.00 706.10 Td ( ) Tj ET Q q 0 0 0 rg BT 122.00 706.10 Td ( ) Tj ET Q q 0 0 0 rg BT 158.00 706.10 Td (CONDENSED CONSOLIDA) Tj ET Q q 0 0 0 rg BT 283.11 706.10 Td (TED ST) Tj ET Q q 0 0 0 rg BT 317.66 706.10 Td (A) Tj ET Q q 0 0 0 rg BT 324.14 706.10 Td (TEMENTS OF) Tj ET Q q 0 0 0 rg BT 389.06 706.10 Td ( CASH FLOWS) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 694.10 Td ( ) Tj ET Q q 0 0 0 rg BT 86.00 694.10 Td ( ) Tj ET Q q 0 0 0 rg BT 122.00 694.10 Td ( ) Tj ET Q q 0 0 0 rg BT 158.00 694.10 Td ( ) Tj ET Q q 0 0 0 rg BT 194.00 694.10 Td ( ) Tj ET Q q 0 0 0 rg BT 230.00 694.10 Td ( ) Tj ET Q q 0 0 0 rg BT 266.00 694.10 Td ( ) Tj ET Q q 0 0 0 rg BT 302.00 694.10 Td (\(Unaudited\)) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 84.50 671.60 248.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 332.50 671.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 336.50 671.60 190.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 84.50 643.60 248.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 332.50 643.60 4.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 336.50 643.60 93.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 429.50 643.60 4.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 433.50 643.60 93.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 84.50 621.60 248.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 332.50 621.60 4.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 336.50 621.60 93.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 429.50 621.60 4.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 433.50 621.60 93.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 84.50 589.60 248.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 332.50 589.60 4.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 336.50 589.60 93.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 429.50 589.60 4.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 433.50 589.60 93.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 84.50 567.60 248.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 332.50 567.60 4.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 336.50 567.60 93.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 429.50 567.60 4.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 433.50 567.60 93.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 84.50 545.60 248.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 332.50 545.60 4.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 336.50 545.60 93.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 429.50 545.60 4.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 433.50 545.60 93.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 84.50 523.60 248.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 332.50 523.60 4.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 336.50 523.60 93.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 429.50 523.60 4.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 433.50 523.60 93.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 84.50 501.60 248.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 332.50 501.60 4.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 336.50 501.60 93.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 429.50 501.60 4.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 433.50 501.60 93.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 84.50 479.60 248.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 332.50 479.60 4.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 336.50 479.60 93.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 429.50 479.60 4.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 433.50 479.60 93.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 84.50 457.60 248.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 332.50 457.60 4.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 336.50 457.60 93.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 429.50 457.60 4.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 433.50 457.60 93.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 84.50 435.60 248.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 332.50 435.60 4.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 336.50 435.60 93.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 429.50 435.60 4.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 433.50 435.60 93.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 84.50 413.60 248.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 332.50 413.60 4.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 336.50 413.60 93.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 429.50 413.60 4.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 433.50 413.60 93.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 84.50 391.60 248.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 332.50 391.60 4.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 336.50 391.60 93.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 429.50 391.60 4.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 433.50 391.60 93.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 84.50 369.60 248.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 332.50 369.60 4.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 336.50 369.60 93.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 429.50 369.60 4.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 433.50 369.60 93.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 84.50 347.60 248.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 332.50 347.60 4.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 336.50 347.60 93.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 429.50 347.60 4.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 433.50 347.60 93.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 84.50 325.60 248.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 332.50 325.60 4.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 336.50 325.60 93.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 429.50 325.60 4.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 433.50 325.60 93.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 84.50 303.60 248.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 332.50 303.60 4.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 336.50 303.60 93.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 429.50 303.60 4.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 433.50 303.60 93.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 84.50 281.60 248.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 332.50 281.60 4.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 336.50 281.60 93.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 429.50 281.60 4.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 433.50 281.60 93.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 84.50 259.60 248.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 332.50 259.60 4.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 336.50 259.60 93.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 429.50 259.60 4.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 433.50 259.60 93.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 84.50 237.60 248.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 332.50 237.60 4.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 336.50 237.60 93.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 429.50 237.60 4.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 433.50 237.60 93.00 -11.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 336.5 658.6 m 429.5 658.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 429.5 658.6 m 433.5 658.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 433.5 658.6 m 526.5 658.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 336.5 643.6 m 429.5 643.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 433.5 643.6 m 526.5 643.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 336.5 424.6 m 429.5 424.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 336.5 413.6 m 429.5 413.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 433.5 424.6 m 526.5 424.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 433.5 413.6 m 526.5 413.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 336.5 358.6 m 429.5 358.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 433.5 358.6 m 526.5 358.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 336.5 358.6 m 429.5 358.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 336.5 347.6 m 429.5 347.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 433.5 358.6 m 526.5 358.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 433.5 347.6 m 526.5 347.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 336.5 292.6 m 429.5 292.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 336.5 292.6 m 429.5 292.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 336.5 281.6 m 429.5 281.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 433.5 292.6 m 526.5 292.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 433.5 281.6 m 526.5 281.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 336.5 259.6 m 429.5 259.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 336.5 249.60000000000002 m 429.5 249.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 336.5 247.60000000000002 m 429.5 247.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 433.5 259.6 m 526.5 259.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 433.5 249.60000000000002 m 526.5 249.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 433.5 247.60000000000002 m 526.5 247.60000000000002 l s BT /F1 10.00 Tf ET q 0 0 0 rg BT 87.00 662.17 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 371.35 662.33 Td (For) Tj ET Q q 0 0 0 rg BT 386.72 662.33 Td ( the Nine Months Ended) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 87.00 648.27 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 342.55 648.28 Td (September) Tj ET Q q 0 0 0 rg BT 388.56 648.28 Td ( 30, 2018) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 439.55 648.28 Td (September) Tj ET Q q 0 0 0 rg BT 485.47 648.28 Td ( 30, 2017) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 87.00 635.68 Td (Cash flows fr) Tj ET Q q 0 0 0 rg BT 132.26 635.68 Td (om operating activities:) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 339.00 635.55 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 436.00 635.55 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 87.00 624.55 Td (Net income/\(loss\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 339.00 624.55 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 394.30 624.55 Td (7,841,384) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 436.00 624.55 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 488.60 624.55 Td (\(3,601,600) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 523.30 624.55 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 87.00 612.85 Td (Adjustments to reconcile net income/\(loss\) to net cash provided by) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 87.00 604.85 Td (operating activities:) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 87.00 592.55 Td (Depreciation) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 390.30 592.55 Td (12,871,150) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 487.30 592.55 Td (12,910,203) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 87.00 581.55 Td (Amortization of deferred drydocking costs) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 394.30 581.55 Td (2,81) Tj ET Q q 0 0 0 rg BT 408.30 581.55 Td (1,776) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 491.30 581.55 Td (2,148,637) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 87.00 570.55 Td (Amortization of debt discount and debt issuance costs) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 400.30 570.55 Td (955,552) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 515.30 570.55 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 87.00 559.55 Td (Management services contributed by the Parent Company) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 418.30 559.55 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 487.30 559.55 Td (12,217,850) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 87.00 548.55 Td (Net unrealized loss/\(gain\) on fair value of derivatives) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 400.30 548.55 Td (202,500) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 515.30 548.55 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 87.00 537.55 Td (Gain on sale of vessels) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 397.60 537.55 Td (\(235,695) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 426.30 537.55 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 515.30 537.55 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 87.00 526.55 Td (Drydocking expenditures) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 391.60 526.55 Td (\(3,057,441) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 426.30 526.55 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 488.60 526.55 Td (\(2,773,967) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 523.30 526.55 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 87.00 515.55 Td (Changes in operating assets and liabilities:) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 87.00 504.55 Td (Accounts receivable) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 394.30 504.55 Td (1,366,290) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 488.60 504.55 Td (\(6,452,697) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 523.30 504.55 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 87.00 493.55 Td (Prepaid expenses) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 397.60 493.55 Td (\(291,795) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 426.30 493.55 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 491.30 493.55 Td (1,226,466) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 87.00 482.55 Td (Inventories) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 397.60 482.55 Td (\(668,501) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 426.30 482.55 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 491.30 482.55 Td (2,174,962) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 87.00 471.55 Td (Accounts payable) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 400.30 471.55 Td (404,822) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 488.60 471.55 Td (\(1,123,026) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 523.30 471.55 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 87.00 460.55 Td (Accrued interest) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 394.30 460.55 Td (4,170,167) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 515.30 460.55 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 87.00 449.55 Td (Other current assets) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 397.60 449.55 Td (\(479,565) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 426.30 449.55 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 494.60 449.55 Td (\(674,400) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 523.30 449.55 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 87.00 438.55 Td (Other accrued liabilities) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 391.60 438.55 Td (\(1,196,845) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 426.30 438.55 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 494.60 438.55 Td (\(312,417) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 523.30 438.55 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 87.00 427.55 Td (Unearned revenue) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 400.30 427.55 Td (490,674) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 488.60 427.55 Td (\(1,984,377) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 523.30 427.55 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 87.00 416.68 Td (Net cash pr) Tj ET Q q 0 0 0 rg BT 126.03 416.68 Td (ovided by operating activities) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 390.30 416.55 Td (25,184,473) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 487.30 416.55 Td (13,755,634) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 87.00 394.68 Td (Cash flows fr) Tj ET Q q 0 0 0 rg BT 132.26 394.68 Td (om investing activities:) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 87.00 383.55 Td (V) Tj ET Q q 0 0 0 rg BT 92.33 383.55 Td (essel purchases and improvements) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 397.60 383.55 Td (\(126,482) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 426.30 383.55 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 484.60 383.55 Td (\(17,209,620) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 523.30 383.55 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 87.00 372.55 Td (Advance paid for purchase of vessels and scrubbers) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 391.60 372.55 Td (\(1,548,809) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 426.30 372.55 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 515.30 372.55 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 87.00 361.55 Td (Proceeds from sale of vessels) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 390.30 361.55 Td (10,826,189) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 515.30 361.55 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 87.00 350.68 Td (Net cash used in investing activities) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 394.30 350.55 Td (9,150,898) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 484.60 350.55 Td (\(17,209,620) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 523.30 350.55 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 87.00 328.68 Td (Cash flows fr) Tj ET Q q 0 0 0 rg BT 132.26 328.68 Td (om financing activities:) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 87.00 317.55 Td (Other financing costs) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 391.60 317.55 Td (\(1,095,748) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 426.30 317.55 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 515.30 317.55 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 87.00 306.55 Td (Capital distribution to the Parent Company) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 418.30 306.55 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 484.60 306.55 Td (\(12,918,323) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 523.30 306.55 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 87.00 295.55 Td (Capital contribution from the Parent Company) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 418.30 295.55 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 487.30 295.55 Td (17,209,120) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 87.00 284.68 Td (Net cash \(used in\)/pr) Tj ET Q q 0 0 0 rg BT 157.82 284.68 Td (ovided by financing activities) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 391.60 284.55 Td (\(1,095,748) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 426.30 284.55 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 491.30 284.55 Td (4,290,797) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 87.00 273.55 Td (Net increase in cash and cash equivalents and restricted cash) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 390.30 273.55 Td (33,239,623) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 497.30 273.55 Td (836,81) Tj ET Q q 0 0 0 rg BT 519.30 273.55 Td (1) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 87.00 262.55 Td (Cash and cash equivalents and restricted cash at beginning of period) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 394.30 262.55 Td (7,744,005) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 491.30 262.55 Td (2,065,925) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 87.00 251.68 Td (Cash and cash equivalents and r) Tj ET Q q 0 0 0 rg BT 197.40 251.68 Td (estricted cash at end of period) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 339.00 251.55 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 390.30 251.55 Td (40,983,628) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 436.00 251.55 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 491.30 251.55 Td (2,902,736) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 87.00 229.68 Td (Supplemental cash flow information:) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 87.00 218.55 Td (Cash paid during the period for interest) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 339.00 218.55 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 394.30 218.55 Td (8,341,334) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 515.30 218.55 Td () Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 104.80 191.10 Td (The accompanying notes are an integral part of these Condensed Consolidated Financial Statements.) Tj ET Q endstream endobj 15 0 obj <> endobj 16 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 19.60 Td ( ) Tj ET Q q 0 0 0 rg BT 86.00 19.60 Td ( ) Tj ET Q q 0 0 0 rg BT 122.00 19.60 Td ( ) Tj ET Q q 0 0 0 rg BT 158.00 19.60 Td ( ) Tj ET Q q 0 0 0 rg BT 194.00 19.60 Td ( ) Tj ET Q q 0 0 0 rg BT 230.00 19.60 Td ( ) Tj ET Q q 0 0 0 rg BT 266.00 19.60 Td ( ) Tj ET Q q 0 0 0 rg BT 302.00 19.60 Td (F-5) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 730.10 Td ( ) Tj ET Q q 0 0 0 rg BT 86.00 730.10 Td ( ) Tj ET Q q 0 0 0 rg BT 122.00 730.10 Td ( ) Tj ET Q q 0 0 0 rg BT 158.00 730.10 Td ( ) Tj ET Q q 0 0 0 rg BT 194.00 730.10 Td (EAGLE BULK SHIPCO LLC ) Tj ET Q q 0 0 0 rg BT 325.70 730.10 Td (AND SUBSIDIARIES ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 718.10 Td ( ) Tj ET Q q 0 0 0 rg BT 86.00 718.10 Td ( ) Tj ET Q q 0 0 0 rg BT 122.00 718.10 Td (NOTES ) Tj ET Q q 0 0 0 rg BT 158.22 718.10 Td (T) Tj ET Q q 0 0 0 rg BT 164.71 718.10 Td (O ) Tj ET Q q 0 0 0 rg BT 174.81 718.10 Td (THE CONDENSED CONSOLIDA) Tj ET Q q 0 0 0 rg BT 326.04 718.10 Td (TED FINANCIAL) Tj ET Q q 0 0 0 rg BT 405.22 718.10 Td ( ST) Tj ET Q q 0 0 0 rg BT 419.21 718.10 Td (A) Tj ET Q q 0 0 0 rg BT 425.69 718.10 Td (TEMENTS) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 694.10 Td (Note 1. 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126.69 646.10 Td (of ) Tj ET Q q 0 0 0 rg BT 136.42 646.10 Td (28 ) Tj ET Q q 0 0 0 rg BT 147.83 646.10 Td (vessel ) Tj ET Q q 0 0 0 rg BT 173.67 646.10 Td (owning ) Tj ET Q q 0 0 0 rg BT 205.08 646.10 Td (entities, ) Tj ET Q q 0 0 0 rg BT 237.86 646.10 Td (\(collectively) Tj ET Q q 0 0 0 rg BT 287.19 646.10 Td (, ) Tj ET Q q 0 0 0 rg BT 291.10 646.10 Td (the ) Tj ET Q q 0 0 0 rg BT 304.72 646.10 Td ("Company"\). ) Tj ET Q q 0 0 0 rg BT 358.90 646.10 Td (The ) Tj ET Q q 0 0 0 rg BT 375.85 646.10 Td (Company ) Tj ET Q q 0 0 0 rg BT 416.15 646.10 Td (is ) Tj ET Q q 0 0 0 rg BT 424.22 646.10 Td (engaged ) Tj ET Q q 0 0 0 rg BT 458.94 646.10 Td (in ) Tj ET Q q 0 0 0 rg BT 468.13 646.10 Td (the ) Tj ET Q q 0 0 0 rg BT 481.75 646.10 Td (ocean ) Tj ET Q q 0 0 0 rg BT 506.47 646.10 Td (transportation ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 634.10 Td (of ) Tj ET Q q 0 0 0 rg BT 60.21 634.10 Td (dry ) Tj ET Q q 0 0 0 rg BT 75.41 634.10 Td (bulk ) Tj ET Q q 0 0 0 rg BT 95.07 634.10 Td (car) Tj ET Q q 0 0 0 rg BT 107.09 634.10 Td (goes ) Tj ET Q q 0 0 0 rg BT 127.30 634.10 Td (worldwide ) Tj ET Q q 0 0 0 rg BT 171.95 634.10 Td (through ) Tj ET Q q 0 0 0 rg BT 204.93 634.10 Td (the ) Tj ET Q q 0 0 0 rg BT 219.02 634.10 Td (ownership, ) Tj ET Q q 0 0 0 rg BT 265.06 634.10 Td (charter ) Tj ET Q q 0 0 0 rg BT 294.69 634.10 Td (and ) Tj ET Q q 0 0 0 rg BT 311.01 634.10 Td (operation ) Tj ET Q q 0 0 0 rg BT 350.65 634.10 Td (of ) Tj ET Q q 0 0 0 rg BT 360.85 634.10 Td (dry ) Tj ET Q q 0 0 0 rg BT 376.06 634.10 Td (bulk ) Tj ET Q q 0 0 0 rg BT 395.71 634.10 Td (vessels. ) Tj ET Q q 0 0 0 rg BT 428.28 634.10 Td (The ) Tj ET Q q 0 0 0 rg BT 445.71 634.10 Td (Company's ) Tj ET Q q 0 0 0 rg BT 492.16 634.10 Td (fleet ) Tj ET Q q 0 0 0 rg BT 511.80 634.10 Td (is ) Tj ET Q q 0 0 0 rg BT 520.35 634.10 Td (comprised ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 622.10 Td (of ) Tj ET Q q 0 0 0 rg BT 61.24 622.10 Td (Supramax ) Tj ET Q q 0 0 0 rg BT 104.69 622.10 Td (and ) Tj ET Q q 0 0 0 rg BT 122.04 622.10 Td (Ultramax ) Tj ET Q q 0 0 0 rg BT 162.71 622.10 Td (bulk ) Tj ET Q q 0 0 0 rg BT 183.39 622.10 Td (carriers, ) Tj ET Q q 0 0 0 rg BT 218.77 622.10 Td (which ) Tj ET Q q 0 0 0 rg BT 246.12 622.10 Td (are ) Tj ET Q q 0 0 0 rg BT 261.23 622.10 Td (considered ) Tj ET Q q 0 0 0 rg BT 307.45 622.10 Td (to ) Tj ET Q q 0 0 0 rg BT 318.14 622.10 Td (be ) Tj ET Q q 0 0 0 rg BT 330.48 622.10 Td (Handymax ) Tj ET Q q 0 0 0 rg BT 377.27 622.10 Td (class ) Tj ET Q q 0 0 0 rg BT 399.61 622.10 Td (of ) Tj ET Q q 0 0 0 rg BT 410.85 622.10 Td (vessels ) Tj ET Q q 0 0 0 rg BT 442.09 622.10 Td (and ) Tj ET Q q 0 0 0 rg BT 459.43 622.10 Td (the ) Tj ET Q q 0 0 0 rg BT 474.56 622.10 Td (Company ) Tj ET Q q 0 0 0 rg BT 516.35 622.10 Td (operates ) Tj ET Q q 0 0 0 rg BT 552.57 622.10 Td (its ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 610.10 Td (business ) Tj ET Q q 0 0 0 rg BT 86.33 610.10 Td (in ) Tj ET Q q 0 0 0 rg BT 96.56 610.10 Td (one ) Tj ET Q q 0 0 0 rg BT 113.44 610.10 Td (business ) Tj ET Q q 0 0 0 rg BT 149.77 610.10 Td (segment. ) Tj ET Q q 0 0 0 rg BT 187.86 610.10 Td (The ) Tj ET Q q 0 0 0 rg BT 205.85 610.10 Td (operations ) Tj ET Q q 0 0 0 rg BT 249.95 610.10 Td (of ) Tj ET Q q 0 0 0 rg BT 260.72 610.10 Td (the ) Tj ET Q q 0 0 0 rg BT 275.38 610.10 Td (vessels ) Tj ET Q q 0 0 0 rg BT 306.16 610.10 Td (are ) Tj ET Q q 0 0 0 rg BT 320.81 610.10 Td (managed ) Tj ET Q q 0 0 0 rg BT 359.34 610.10 Td (by ) Tj ET Q q 0 0 0 rg BT 371.79 610.10 Td (Eagle ) Tj ET Q q 0 0 0 rg BT 396.99 610.10 Td (Bulk ) Tj ET Q q 0 0 0 rg BT 418.88 610.10 Td (Management ) Tj ET Q q 0 0 0 rg BT 473.53 610.10 Td (LLC, ) Tj ET Q q 0 0 0 rg BT 497.36 610.10 Td (a ) Tj ET Q q 0 0 0 rg BT 504.24 610.10 Td (wholly-owned ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 598.10 Td (subsidiary ) Tj ET Q q 0 0 0 rg BT 93.61 598.10 Td (of ) Tj ET Q q 0 0 0 rg BT 104.44 598.10 Td (Eagle ) Tj ET Q q 0 0 0 rg BT 129.70 598.10 Td (Bulk ) Tj ET Q q 0 0 0 rg BT 151.65 598.10 Td (Shipping ) Tj ET Q q 0 0 0 rg BT 190.27 598.10 Td (Inc. ) Tj ET Q q 0 0 0 rg BT 208.04 598.10 Td (\(the ) Tj ET Q q 0 0 0 rg BT 226.08 598.10 Td ("Parent ) Tj ET Q q 0 0 0 rg BT 258.21 598.10 Td (Company"\). ) Tj ET Q q 0 0 0 rg BT 312.01 598.10 Td (Shipco ) Tj ET Q q 0 0 0 rg BT 342.29 598.10 Td (is ) Tj ET Q q 0 0 0 rg BT 351.46 598.10 Td (a ) Tj ET Q q 0 0 0 rg BT 358.40 598.10 Td (wholly-owned ) Tj ET Q q 0 0 0 rg BT 418.67 598.10 Td (subsidiary ) Tj ET Q q 0 0 0 rg BT 462.28 598.10 Td (of ) Tj ET Q q 0 0 0 rg BT 473.11 598.10 Td (the ) Tj ET Q q 0 0 0 rg BT 487.82 598.10 Td (Parent ) Tj ET Q q 0 0 0 rg BT 515.87 598.10 Td (Company) Tj ET Q q 0 0 0 rg BT 554.11 598.10 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 574.10 Td ( ) Tj ET Q q 0 0 0 rg BT 86.00 574.10 Td (The ) Tj ET Q q 0 0 0 rg BT 102.84 574.10 Td (accompanying ) Tj ET Q q 0 0 0 rg BT 162.44 574.10 Td (condensed ) Tj ET Q q 0 0 0 rg BT 205.94 574.10 Td (consolidated ) Tj ET Q q 0 0 0 rg BT 257.77 574.10 Td (financial ) Tj ET Q q 0 0 0 rg BT 294.04 574.10 Td (statements ) Tj ET Q q 0 0 0 rg BT 337.55 574.10 Td (have ) Tj ET Q q 0 0 0 rg BT 357.72 574.10 Td (been ) Tj ET Q q 0 0 0 rg BT 377.88 574.10 Td (prepared ) Tj ET Q q 0 0 0 rg BT 414.15 574.10 Td (in ) Tj ET Q q 0 0 0 rg BT 423.22 574.10 Td (accordance ) Tj ET Q q 0 0 0 rg BT 469.47 574.10 Td (with ) Tj ET Q q 0 0 0 rg BT 488.54 574.10 Td (generally ) Tj ET Q q 0 0 0 rg BT 527.04 574.10 Td (accepted ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 562.10 Td (accounting ) Tj ET Q q 0 0 0 rg BT 96.37 562.10 Td (principles ) Tj ET Q q 0 0 0 rg BT 138.31 562.10 Td (in ) Tj ET Q q 0 0 0 rg BT 148.58 562.10 Td (the ) Tj ET Q q 0 0 0 rg BT 163.30 562.10 Td (United ) Tj ET Q q 0 0 0 rg BT 193.02 562.10 Td (States ) Tj ET Q q 0 0 0 rg BT 219.40 562.10 Td (\(U.S. ) Tj ET Q q 0 0 0 rg BT 247.46 562.10 Td (GAAP\).) 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Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 96.00 490.10 Td (As ) Tj ET Q q 0 0 0 rg BT 109.40 490.10 Td (of ) Tj ET Q q 0 0 0 rg BT 120.01 490.10 Td (September ) Tj ET Q q 0 0 0 rg BT 165.06 490.10 Td (30, ) Tj ET Q q 0 0 0 rg BT 179.85 490.10 Td (2018, ) Tj ET Q q 0 0 0 rg BT 204.63 490.10 Td (the ) Tj ET Q q 0 0 0 rg BT 219.13 490.10 Td (Company ) Tj ET Q q 0 0 0 rg BT 260.31 490.10 Td (owned ) Tj ET Q q 0 0 0 rg BT 289.25 490.10 Td (and ) Tj ET Q q 0 0 0 rg BT 305.98 490.10 Td (operated ) Tj ET Q q 0 0 0 rg BT 342.68 490.10 Td (a ) Tj ET Q q 0 0 0 rg BT 349.41 490.10 Td (modern ) Tj ET Q q 0 0 0 rg BT 382.24 490.10 Td (fleet ) Tj ET Q q 0 0 0 rg BT 402.29 490.10 Td (of ) Tj ET Q q 0 0 0 rg BT 412.90 490.10 Td (27 ) Tj ET Q q 0 0 0 rg BT 425.19 490.10 Td (oceangoing ) Tj ET Q q 0 0 0 rg BT 473.57 490.10 Td (vessels, ) Tj ET Q q 0 0 0 rg BT 506.68 490.10 Td (25 ) Tj ET Q q 0 0 0 rg BT 518.97 490.10 Td (Supramax, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 478.10 Td (and ) Tj ET Q q 0 0 0 rg BT 66.94 478.10 Td (two ) Tj ET Q q 0 0 0 rg BT 84.44 478.10 Td (Ultramax, ) Tj ET Q q 0 0 0 rg BT 127.20 478.10 Td (with ) Tj ET Q q 0 0 0 rg BT 147.48 478.10 Td (a ) Tj ET Q q 0 0 0 rg BT 154.42 478.10 Td (combined ) Tj ET Q q 0 0 0 rg BT 196.35 478.10 Td (carrying ) Tj ET Q q 0 0 0 rg BT 232.17 478.10 Td (capacity ) Tj ET Q q 0 0 0 rg BT 267.98 478.10 Td (of ) Tj ET Q q 0 0 0 rg BT 278.81 478.10 Td (1,492,628 ) Tj ET Q q 0 0 0 rg BT 321.31 478.10 Td (dwt ) Tj ET Q q 0 0 0 rg BT 338.81 478.10 Td (and ) Tj ET Q q 0 0 0 rg BT 355.75 478.10 Td (an ) Tj ET Q q 0 0 0 rg BT 367.69 478.10 Td (average ) Tj ET Q q 0 0 0 rg BT 401.27 478.10 Td (age ) Tj ET Q q 0 0 0 rg BT 417.65 478.10 Td (of ) Tj ET Q q 0 0 0 rg BT 428.48 478.10 Td (approximately ) Tj ET Q q 0 0 0 rg BT 488.74 478.10 Td (10.7 ) Tj ET Q q 0 0 0 rg BT 508.74 478.10 Td (years. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 92.00 454.10 Td (There are no charterers for the Company that individually accounted for more than 10% of the Company) Tj ET Q q 0 0 0 rg BT 513.52 454.10 Td (s revenue ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 442.10 Td (for the three and nine months ended September 30, 2018 and 2017.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 89.00 418.10 Td (W) Tj ET Q q 0 0 0 rg BT 97.64 418.10 Td (e ) Tj ET Q q 0 0 0 rg BT 105.35 418.10 Td (adopted ) Tj ET Q q 0 0 0 rg BT 140.29 418.10 Td (the ) Tj ET Q q 0 0 0 rg BT 155.78 418.10 Td (Financial ) Tj ET Q q 0 0 0 rg BT 195.55 418.10 Td (Accounting ) Tj ET Q q 0 0 0 rg BT 245.48 418.10 Td (Standards ) Tj ET Q q 0 0 0 rg BT 288.20 418.10 Td (Board's ) Tj ET Q q 0 0 0 rg BT 321.61 418.10 Td (\("F) Tj ET Q q 0 0 0 rg BT 333.84 418.10 Td (ASB"\) ) Tj ET Q q 0 0 0 rg BT 363.26 418.10 Td (Accounting ) Tj ET Q q 0 0 0 rg BT 413.19 418.10 Td (Standards ) Tj ET Q q 0 0 0 rg BT 455.91 418.10 Td (Update ) Tj ET Q q 0 0 0 rg BT 488.06 418.10 Td (\("ASU"\) ) Tj ET Q q 0 0 0 rg BT 526.17 418.10 Td (2014-09, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 406.10 Td ("Revenue ) Tj ET Q q 0 0 0 rg BT 90.34 406.10 Td (from ) Tj ET Q q 0 0 0 rg BT 111.05 406.10 Td (Contracts ) Tj ET Q q 0 0 0 rg BT 150.64 406.10 Td (with ) Tj ET Q q 0 0 0 rg BT 169.69 406.10 Td (Customers" ) Tj ET Q q 0 0 0 rg BT 217.82 406.10 Td (\("ASU ) Tj ET Q q 0 0 0 rg BT 246.51 406.10 Td (2014-09" ) Tj ET Q q 0 0 0 rg BT 285.20 406.10 Td (or ) Tj ET Q q 0 0 0 rg BT 294.80 406.10 Td ("ASC ) Tj ET Q q 0 0 0 rg BT 319.60 406.10 Td (606"\) ) Tj ET Q q 0 0 0 rg BT 343.29 406.10 Td (as ) Tj ET Q q 0 0 0 rg BT 352.89 406.10 Td (of ) Tj ET Q q 0 0 0 rg BT 362.49 406.10 Td (January ) Tj ET Q q 0 0 0 rg BT 394.86 406.10 Td (1, ) Tj ET Q q 0 0 0 rg BT 403.63 406.10 Td (2018 ) Tj ET Q q 0 0 0 rg BT 424.90 406.10 Td (utilizing ) Tj ET Q q 0 0 0 rg BT 459.50 406.10 Td (the ) Tj ET Q q 0 0 0 rg BT 472.99 406.10 Td (modified ) Tj ET Q q 0 0 0 rg BT 510.36 406.10 Td (retrospective ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 394.10 Td (method ) Tj ET Q q 0 0 0 rg BT 82.34 394.10 Td (of ) Tj ET Q q 0 0 0 rg BT 93.02 394.10 Td (transition. ) Tj ET Q q 0 0 0 rg BT 135.12 394.10 Td (ASC ) Tj ET Q q 0 0 0 rg BT 156.92 394.10 Td (606 ) Tj ET Q q 0 0 0 rg BT 174.27 394.10 Td (impacted ) Tj ET Q q 0 0 0 rg BT 213.27 394.10 Td (the ) Tj ET Q q 0 0 0 rg BT 227.83 394.10 Td (timing ) Tj ET Q q 0 0 0 rg BT 256.29 394.10 Td (of ) Tj ET Q q 0 0 0 rg BT 266.97 394.10 Td (recognition ) Tj ET Q q 0 0 0 rg BT 314.86 394.10 Td (of ) Tj ET Q q 0 0 0 rg BT 325.54 394.10 Td (revenues ) Tj ET Q q 0 0 0 rg BT 363.42 394.10 Td (from ) Tj ET Q q 0 0 0 rg BT 385.21 394.10 Td (certain ) Tj ET Q q 0 0 0 rg BT 414.76 394.10 Td (ongoing ) Tj ET Q q 0 0 0 rg BT 449.89 394.10 Td (spot ) Tj ET Q q 0 0 0 rg BT 468.90 394.10 Td (voyage ) Tj ET Q q 0 0 0 rg BT 500.13 394.10 Td (charters ) Tj ET Q q 0 0 0 rg BT 534.12 394.10 Td (as ) Tj ET Q q 0 0 0 rg BT 544.80 394.10 Td (well ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 382.10 Td (as ) Tj ET Q q 0 0 0 rg BT 62.96 382.10 Td (timing ) Tj ET Q q 0 0 0 rg BT 93.71 382.10 Td (of ) Tj ET Q q 0 0 0 rg BT 106.67 382.10 Td (recognition ) Tj ET Q q 0 0 0 rg BT 156.84 382.10 Td (of ) Tj ET Q q 0 0 0 rg BT 169.80 382.10 Td (certain ) Tj ET Q q 0 0 0 rg BT 201.63 382.10 Td (voyage ) Tj ET Q q 0 0 0 rg BT 235.14 382.10 Td (related ) Tj ET Q q 0 0 0 rg BT 266.97 382.10 Td (expenses. ) Tj ET Q q 0 0 0 rg BT 310.20 382.10 Td (Under ) Tj ET Q q 0 0 0 rg BT 338.80 382.10 Td (ASC ) Tj ET Q q 0 0 0 rg BT 362.89 382.10 Td (606, ) Tj ET Q q 0 0 0 rg BT 385.02 382.10 Td (revenue ) Tj ET Q q 0 0 0 rg BT 421.29 382.10 Td (is ) Tj ET Q q 0 0 0 rg BT 432.59 382.10 Td (recognized ) Tj ET Q q 0 0 0 rg BT 481.09 382.10 Td (beginning ) Tj ET Q q 0 0 0 rg BT 525.71 382.10 Td (from ) Tj ET Q q 0 0 0 rg BT 549.78 382.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 370.10 Td (commencement ) Tj ET Q q 0 0 0 rg BT 114.94 370.10 Td (of ) Tj ET Q q 0 0 0 rg BT 124.90 370.10 Td (loading ) Tj ET Q q 0 0 0 rg BT 156.53 370.10 Td (until ) Tj ET Q q 0 0 0 rg BT 176.50 370.10 Td (the ) Tj ET Q q 0 0 0 rg BT 190.35 370.10 Td (completion ) Tj ET Q q 0 0 0 rg BT 236.97 370.10 Td (of ) Tj ET Q q 0 0 0 rg BT 246.94 370.10 Td (dischar) Tj ET Q q 0 0 0 rg BT 275.63 370.10 Td (ge ) Tj ET Q q 0 0 0 rg BT 286.70 370.10 Td (at ) Tj ET Q q 0 0 0 rg BT 295.55 370.10 Td (the ) Tj ET Q q 0 0 0 rg BT 309.40 370.10 Td (dischar) Tj ET Q q 0 0 0 rg BT 338.10 370.10 Td (ge ) Tj ET Q q 0 0 0 rg BT 349.17 370.10 Td (port ) Tj ET Q q 0 0 0 rg BT 366.91 370.10 Td (instead ) Tj ET Q q 0 0 0 rg BT 396.87 370.10 Td (of ) Tj ET Q q 0 0 0 rg BT 406.84 370.10 Td (recognizing ) Tj ET Q q 0 0 0 rg BT 455.67 370.10 Td (revenue ) Tj ET Q q 0 0 0 rg BT 488.95 370.10 Td (from ) Tj ET Q q 0 0 0 rg BT 510.02 370.10 Td (the ) Tj ET Q q 0 0 0 rg BT 523.87 370.10 Td (dischar) Tj ET Q q 0 0 0 rg BT 552.57 370.10 Td (ge ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 358.10 Td (of ) Tj ET Q q 0 0 0 rg BT 61.25 358.10 Td (the ) Tj ET Q q 0 0 0 rg BT 76.38 358.10 Td (previous ) Tj ET Q q 0 0 0 rg BT 113.73 358.10 Td (voyage ) Tj ET Q q 0 0 0 rg BT 145.53 358.10 Td (provided ) Tj ET Q q 0 0 0 rg BT 183.99 358.10 Td (an ) Tj ET Q q 0 0 0 rg BT 196.35 358.10 Td (agreed ) Tj ET Q q 0 0 0 rg BT 225.91 358.10 Td (non-cancellable ) Tj ET Q q 0 0 0 rg BT 292.12 358.10 Td (charter ) Tj ET Q q 0 0 0 rg BT 322.79 358.10 Td (between ) Tj ET Q q 0 0 0 rg BT 359.02 358.10 Td (the ) Tj ET Q q 0 0 0 rg BT 374.16 358.10 Td (Company ) Tj ET Q q 0 0 0 rg BT 415.96 358.10 Td (and ) Tj ET Q q 0 0 0 rg BT 433.31 358.10 Td (the ) Tj ET Q q 0 0 0 rg BT 448.45 358.10 Td (charterer ) Tj ET Q q 0 0 0 rg BT 486.89 358.10 Td (is ) Tj ET Q q 0 0 0 rg BT 496.47 358.10 Td (in ) Tj ET Q q 0 0 0 rg BT 507.17 358.10 Td (existence, ) Tj ET Q q 0 0 0 rg BT 549.79 358.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 346.10 Td (charter ) Tj ET Q q 0 0 0 rg BT 80.25 346.10 Td (rate ) Tj ET Q q 0 0 0 rg BT 97.74 346.10 Td (is ) Tj ET Q q 0 0 0 rg BT 106.91 346.10 Td (fixed ) Tj ET Q q 0 0 0 rg BT 129.96 346.10 Td (and ) Tj ET Q q 0 0 0 rg BT 146.89 346.10 Td (determinable, ) Tj ET Q q 0 0 0 rg BT 204.09 346.10 Td (and ) Tj ET Q q 0 0 0 rg BT 221.03 346.10 Td (collectability ) Tj ET Q q 0 0 0 rg BT 275.73 346.10 Td (is ) Tj ET Q q 0 0 0 rg BT 284.90 346.10 Td (reasonably ) Tj ET Q q 0 0 0 rg BT 330.72 346.10 Td (assured.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 89.00 320.90 Td (W) Tj ET Q q 0 0 0 rg BT 98.04 320.90 Td (ith ) Tj ET Q q 0 0 0 rg BT 110.99 320.90 Td (the ) Tj ET Q q 0 0 0 rg BT 125.60 320.90 Td (adoption ) Tj ET Q q 0 0 0 rg BT 162.98 320.90 Td (of ) Tj ET Q q 0 0 0 rg BT 173.18 320.90 Td (ASC ) Tj ET Q q 0 0 0 rg BT 195.02 320.90 Td (606, ) Tj ET Q q 0 0 0 rg BT 214.92 320.90 Td (we ) Tj ET Q q 0 0 0 rg BT 228.97 320.90 Td (recognize ) Tj ET Q q 0 0 0 rg BT 270.23 320.90 Td (as ) Tj ET Q q 0 0 0 rg BT 280.95 320.90 Td (an ) Tj ET Q q 0 0 0 rg BT 292.78 320.90 Td (asset ) Tj ET Q q 0 0 0 rg BT 314.61 320.90 Td (any ) Tj ET Q q 0 0 0 rg BT 331.44 320.90 Td (costs ) Tj ET Q q 0 0 0 rg BT 353.83 320.90 Td (incurred ) Tj ET Q q 0 0 0 rg BT 389.54 320.90 Td (prior ) Tj ET Q q 0 0 0 rg BT 411.37 320.90 Td (to ) Tj ET Q q 0 0 0 rg BT 421.54 320.90 Td (commencement ) Tj ET Q q 0 0 0 rg BT 487.24 320.90 Td (of ) Tj ET Q q 0 0 0 rg BT 497.96 320.90 Td (loading ) Tj ET Q q 0 0 0 rg BT 530.35 320.90 Td (because ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 308.90 Td (these ) Tj ET Q q 0 0 0 rg BT 73.02 308.90 Td (costs ) Tj ET Q q 0 0 0 rg BT 95.50 308.90 Td (are ) Tj ET Q q 0 0 0 rg BT 110.19 308.90 Td (incurred ) Tj ET Q q 0 0 0 rg BT 145.98 308.90 Td (to ) Tj ET Q q 0 0 0 rg BT 156.23 308.90 Td (fulfill ) Tj ET Q q 0 0 0 rg BT 181.48 308.90 Td (a ) Tj ET Q q 0 0 0 rg BT 188.40 308.90 Td (contract ) Tj ET Q q 0 0 0 rg BT 223.08 308.90 Td (and ) Tj ET Q q 0 0 0 rg BT 239.99 308.90 Td (are ) Tj ET Q q 0 0 0 rg BT 254.68 308.90 Td (directly ) Tj ET Q q 0 0 0 rg BT 287.70 308.90 Td (relate ) Tj ET Q q 0 0 0 rg BT 312.38 308.90 Td (to ) Tj ET Q q 0 0 0 rg BT 322.63 308.90 Td (a ) Tj ET Q q 0 0 0 rg BT 329.55 308.90 Td (contract ) Tj ET Q q 0 0 0 rg BT 364.23 308.90 Td (or ) Tj ET Q q 0 0 0 rg BT 375.03 308.90 Td (an ) Tj ET Q q 0 0 0 rg BT 386.95 308.90 Td (anticipated ) Tj ET Q q 0 0 0 rg BT 433.29 308.90 Td (contract ) Tj ET Q q 0 0 0 rg BT 467.97 308.90 Td (that ) Tj ET Q q 0 0 0 rg BT 485.44 308.90 Td (we ) Tj ET Q q 0 0 0 rg BT 499.58 308.90 Td (can ) Tj ET Q q 0 0 0 rg BT 515.94 308.90 Td (specifically ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 296.90 Td (identify) Tj ET Q q 0 0 0 rg BT 80.45 296.90 Td (. ) Tj ET Q q 0 0 0 rg BT 85.27 296.90 Td (These ) Tj ET Q q 0 0 0 rg BT 111.65 296.90 Td (costs ) Tj ET Q q 0 0 0 rg BT 134.15 296.90 Td (are ) Tj ET Q q 0 0 0 rg BT 148.86 296.90 Td (amortized ) Tj ET Q q 0 0 0 rg BT 191.34 296.90 Td (over ) Tj ET Q q 0 0 0 rg BT 211.61 296.90 Td (the ) Tj ET Q q 0 0 0 rg BT 226.32 296.90 Td (term ) Tj ET Q q 0 0 0 rg BT 247.15 296.90 Td (of ) Tj ET Q q 0 0 0 rg BT 257.98 296.90 Td (the ) Tj ET Q q 0 0 0 rg BT 272.70 296.90 Td (contract ) Tj ET Q q 0 0 0 rg BT 307.40 296.90 Td (on ) Tj ET Q q 0 0 0 rg BT 319.90 296.90 Td (a ) Tj ET Q q 0 0 0 rg BT 326.84 296.90 Td (straight-line ) Tj ET Q q 0 0 0 rg BT 377.66 296.90 Td (basis ) Tj ET Q q 0 0 0 rg BT 400.16 296.90 Td (as ) Tj ET Q q 0 0 0 rg BT 410.99 296.90 Td (the ) Tj ET Q q 0 0 0 rg BT 425.70 296.90 Td (performance ) Tj ET Q q 0 0 0 rg BT 478.73 296.90 Td (obligations ) Tj ET Q q 0 0 0 rg BT 525.67 296.90 Td (are ) Tj ET Q q 0 0 0 rg BT 540.38 296.90 Td (met.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 89.00 271.70 Td (W) Tj ET Q q 0 0 0 rg BT 97.64 271.70 Td (e ) Tj ET Q q 0 0 0 rg BT 104.58 271.70 Td (recorded ) Tj ET Q q 0 0 0 rg BT 142.06 271.70 Td (an ) Tj ET Q q 0 0 0 rg BT 154.01 271.70 Td (adjustment ) Tj ET Q q 0 0 0 rg BT 200.40 271.70 Td (of ) Tj ET Q q 0 0 0 rg BT 211.23 271.70 Td (approximately ) Tj ET Q q 0 0 0 rg BT 271.50 271.70 Td (of ) Tj ET Q q 0 0 0 rg BT 282.34 271.70 Td ($0.6 ) Tj ET Q q 0 0 0 rg BT 302.34 271.70 Td (million ) Tj ET Q q 0 0 0 rg BT 333.74 271.70 Td (to ) Tj ET Q q 0 0 0 rg BT 344.02 271.70 Td (increase ) Tj ET Q q 0 0 0 rg BT 379.28 271.70 Td (our ) Tj ET Q q 0 0 0 rg BT 395.12 271.70 Td (opening ) Tj ET Q q 0 0 0 rg BT 429.84 271.70 Td (accumulated ) Tj ET Q q 0 0 0 rg BT 482.88 271.70 Td (deficit, ) Tj ET Q q 0 0 0 rg BT 513.43 271.70 Td (increase ) Tj ET Q q 0 0 0 rg BT 548.69 271.70 Td (our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 259.70 Td (unearned ) Tj ET Q q 0 0 0 rg BT 88.72 259.70 Td (revenue ) Tj ET Q q 0 0 0 rg BT 122.44 259.70 Td (and ) Tj ET Q q 0 0 0 rg BT 138.95 259.70 Td (other ) Tj ET Q q 0 0 0 rg BT 161.57 259.70 Td (current ) Tj ET Q q 0 0 0 rg BT 191.96 259.70 Td (assets ) Tj ET Q q 0 0 0 rg BT 217.36 259.70 Td (on ) Tj ET Q q 0 0 0 rg BT 229.43 259.70 Td (our ) Tj ET Q q 0 0 0 rg BT 244.83 259.70 Td (Condensed ) Tj ET Q q 0 0 0 rg BT 291.35 259.70 Td (Consolidated ) Tj ET Q q 0 0 0 rg BT 346.19 259.70 Td (Balance ) Tj ET Q q 0 0 0 rg BT 380.47 259.70 Td (Sheet ) Tj ET Q q 0 0 0 rg BT 404.76 259.70 Td (on ) Tj ET Q q 0 0 0 rg BT 416.83 259.70 Td (January ) Tj ET Q q 0 0 0 rg BT 450.00 259.70 Td (1, ) Tj ET Q q 0 0 0 rg BT 459.57 259.70 Td (2018. ) Tj ET Q q 0 0 0 rg BT 484.15 259.70 Td (Please ) Tj ET Q q 0 0 0 rg BT 511.77 259.70 Td (refer ) Tj ET Q q 0 0 0 rg BT 532.71 259.70 Td (to ) Tj ET Q q 0 0 0 rg BT 542.56 259.70 Td (Note ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 247.70 Td (2 ) Tj ET Q q 0 0 0 rg BT 57.50 247.70 Td ("Recently ) Tj ET Q q 0 0 0 rg BT 99.07 247.70 Td (Adopted ) Tj ET Q q 0 0 0 rg BT 135.46 247.70 Td (Accounting ) Tj ET Q q 0 0 0 rg BT 184.61 247.70 Td (Pronouncements" ) Tj ET Q q 0 0 0 rg BT 257.85 247.70 Td (for ) Tj ET Q q 0 0 0 rg BT 272.01 247.70 Td (further ) Tj ET Q q 0 0 0 rg BT 301.72 247.70 Td (information.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 222.50 Td ( ) Tj ET Q q 0 0 0 rg BT 86.00 222.50 Td (Share ) Tj ET Q q 0 0 0 rg BT 111.20 222.50 Td (capital ) Tj ET Q q 0 0 0 rg BT 140.27 222.50 Td (as ) Tj ET Q q 0 0 0 rg BT 151.03 222.50 Td (of ) Tj ET Q q 0 0 0 rg BT 161.79 222.50 Td (September ) Tj ET Q q 0 0 0 rg BT 206.98 222.50 Td (30, ) Tj ET Q q 0 0 0 rg BT 221.90 222.50 Td (2018 ) Tj ET Q q 0 0 0 rg BT 244.33 222.50 Td (consists ) Tj ET Q q 0 0 0 rg BT 278.43 222.50 Td (of ) Tj ET Q q 0 0 0 rg BT 289.18 222.50 Td (100 ) Tj ET Q q 0 0 0 rg BT 306.61 222.50 Td (authorized ) Tj ET Q q 0 0 0 rg BT 351.24 222.50 Td (and ) Tj ET Q q 0 0 0 rg BT 368.10 222.50 Td (issued ) Tj ET Q q 0 0 0 rg BT 395.53 222.50 Td (shares ) Tj ET Q q 0 0 0 rg BT 422.95 222.50 Td (with ) Tj ET Q q 0 0 0 rg BT 443.15 222.50 Td (no ) Tj ET Q q 0 0 0 rg BT 455.58 222.50 Td (par ) Tj ET Q q 0 0 0 rg BT 470.78 222.50 Td (value. ) Tj ET Q q 0 0 0 rg BT 497.18 222.50 Td (The ) Tj ET Q q 0 0 0 rg BT 515.16 222.50 Td (shares ) Tj ET Q q 0 0 0 rg BT 542.57 222.50 Td (were ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 210.50 Td (issued ) Tj ET Q q 0 0 0 rg BT 77.50 210.50 Td (to ) Tj ET Q q 0 0 0 rg BT 87.78 210.50 Td (the ) Tj ET Q q 0 0 0 rg BT 102.50 210.50 Td (Parent ) Tj ET Q q 0 0 0 rg BT 130.54 210.50 Td (Company ) Tj ET Q q 0 0 0 rg BT 171.93 210.50 Td (as ) Tj ET Q q 0 0 0 rg BT 182.76 210.50 Td (its ) Tj ET Q q 0 0 0 rg BT 194.71 210.50 Td (sole ) Tj ET Q q 0 0 0 rg BT 213.32 210.50 Td (member) Tj ET Q q 0 0 0 rg BT 245.53 210.50 Td (.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 248.03 210.50 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 186.50 Td (Note 2. Recently ) Tj ET Q q 0 0 0 rg BT 121.65 186.50 Td (Adopted ) Tj ET Q q 0 0 0 rg BT 160.27 186.50 Td (Accounting Pr) Tj ET Q q 0 0 0 rg BT 222.03 186.50 Td (onouncements:) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 162.50 Td (Revenue ) Tj ET Q q 0 0 0 rg BT 86.36 162.50 Td (Recognition) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 89.00 137.30 Td (Our ) Tj ET Q q 0 0 0 rg BT 107.19 137.30 Td (shipping ) Tj ET Q q 0 0 0 rg BT 144.28 137.30 Td (revenues ) Tj ET Q q 0 0 0 rg BT 182.45 137.30 Td (are ) Tj ET Q q 0 0 0 rg BT 197.30 137.30 Td (principally ) Tj ET Q q 0 0 0 rg BT 243.26 137.30 Td (generated ) Tj ET Q q 0 0 0 rg BT 284.76 137.30 Td (from ) Tj ET Q q 0 0 0 rg BT 306.84 137.30 Td (time ) Tj ET Q q 0 0 0 rg BT 327.25 137.30 Td (charters ) Tj ET Q q 0 0 0 rg BT 361.54 137.30 Td (and ) Tj ET Q q 0 0 0 rg BT 378.61 137.30 Td (voyage ) Tj ET Q q 0 0 0 rg BT 410.13 137.30 Td (charters. ) Tj ET Q q 0 0 0 rg BT 446.92 137.30 Td (In ) Tj ET Q q 0 0 0 rg BT 457.88 137.30 Td (a ) Tj ET Q q 0 0 0 rg BT 464.96 137.30 Td (time ) Tj ET Q q 0 0 0 rg BT 485.37 137.30 Td (charter ) Tj ET Q q 0 0 0 rg BT 515.77 137.30 Td (voyage, ) Tj ET Q q 0 0 0 rg BT 549.78 137.30 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 125.30 Td (vessel ) Tj ET Q q 0 0 0 rg BT 76.56 125.30 Td (is ) Tj ET Q q 0 0 0 rg BT 85.36 125.30 Td (hired ) Tj ET Q q 0 0 0 rg BT 108.03 125.30 Td (by ) Tj ET Q q 0 0 0 rg BT 120.15 125.30 Td (the ) Tj ET Q q 0 0 0 rg BT 134.49 125.30 Td (charterer ) Tj ET Q q 0 0 0 rg BT 172.14 125.30 Td (for ) Tj ET Q q 0 0 0 rg BT 185.92 125.30 Td (a ) Tj ET Q q 0 0 0 rg BT 192.49 125.30 Td (specified ) Tj ET Q q 0 0 0 rg BT 230.70 125.30 Td (period ) Tj ET Q q 0 0 0 rg BT 258.37 125.30 Td (of ) Tj ET Q q 0 0 0 rg BT 268.83 125.30 Td (time ) Tj ET Q q 0 0 0 rg BT 288.73 125.30 Td (in ) Tj ET Q q 0 0 0 rg BT 298.63 125.30 Td (exchange ) Tj ET Q q 0 0 0 rg BT 338.51 125.30 Td (for ) Tj ET Q q 0 0 0 rg BT 352.29 125.30 Td (consideration ) Tj ET Q q 0 0 0 rg BT 408.29 125.30 Td (which ) Tj ET Q q 0 0 0 rg BT 434.85 125.30 Td (is ) Tj ET Q q 0 0 0 rg BT 443.64 125.30 Td (based ) Tj ET Q q 0 0 0 rg BT 468.54 125.30 Td (on ) Tj ET Q q 0 0 0 rg BT 480.66 125.30 Td (a ) Tj ET Q q 0 0 0 rg BT 487.22 125.30 Td (daily ) Tj ET Q q 0 0 0 rg BT 509.34 125.30 Td (hire ) Tj ET Q q 0 0 0 rg BT 527.01 125.30 Td (rate. ) Tj ET Q q 0 0 0 rg BT 546.47 125.30 Td (The ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 113.30 Td (charterer ) Tj ET Q q 0 0 0 rg BT 89.03 113.30 Td (has ) Tj ET Q q 0 0 0 rg BT 105.87 113.30 Td (the ) Tj ET Q q 0 0 0 rg BT 121.60 113.30 Td (full ) Tj ET Q q 0 0 0 rg BT 139.00 113.30 Td (discretion ) Tj ET Q q 0 0 0 rg BT 181.94 113.30 Td (over ) Tj ET Q q 0 0 0 rg BT 203.22 113.30 Td (the ) Tj ET Q q 0 0 0 rg BT 218.94 113.30 Td (ports ) Tj ET Q q 0 0 0 rg BT 242.45 113.30 Td (visited, ) Tj ET Q q 0 0 0 rg BT 275.13 113.30 Td (shipping ) Tj ET Q q 0 0 0 rg BT 313.09 113.30 Td (routes ) Tj ET Q q 0 0 0 rg BT 341.03 113.30 Td (and ) Tj ET Q q 0 0 0 rg BT 358.98 113.30 Td (vessel ) Tj ET Q q 0 0 0 rg BT 386.93 113.30 Td (speed. ) Tj ET Q q 0 0 0 rg BT 415.46 113.30 Td (The ) Tj ET Q q 0 0 0 rg BT 434.51 113.30 Td (contract/charter ) Tj ET Q q 0 0 0 rg BT 500.76 113.30 Td (party ) Tj ET Q q 0 0 0 rg BT 524.81 113.30 Td (generally ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 101.30 Td (provides ) Tj ET Q q 0 0 0 rg BT 88.13 101.30 Td (typical ) Tj ET Q q 0 0 0 rg BT 119.03 101.30 Td (warranties ) Tj ET Q q 0 0 0 rg BT 164.37 101.30 Td (regarding ) Tj ET Q q 0 0 0 rg BT 206.38 101.30 Td (the ) Tj ET Q q 0 0 0 rg BT 222.29 101.30 Td (speed ) Tj ET Q q 0 0 0 rg BT 248.75 101.30 Td (and ) Tj ET Q q 0 0 0 rg BT 266.88 101.30 Td (performance ) Tj ET Q q 0 0 0 rg BT 321.09 101.30 Td (of ) Tj ET Q q 0 0 0 rg BT 333.11 101.30 Td (the ) Tj ET Q q 0 0 0 rg BT 349.02 101.30 Td (vessel. ) Tj ET Q q 0 0 0 rg BT 379.38 101.30 Td (The ) Tj ET Q q 0 0 0 rg BT 398.62 101.30 Td (charter ) Tj ET Q q 0 0 0 rg BT 430.07 101.30 Td (party ) Tj ET Q q 0 0 0 rg BT 454.30 101.30 Td (generally ) Tj ET Q q 0 0 0 rg BT 495.20 101.30 Td (has ) Tj ET Q q 0 0 0 rg BT 512.22 101.30 Td (some ) Tj ET Q q 0 0 0 rg BT 537.02 101.30 Td (owner ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 89.30 Td (protective ) Tj ET Q q 0 0 0 rg BT 92.20 89.30 Td (restrictions ) Tj ET Q q 0 0 0 rg BT 138.85 89.30 Td (such ) Tj ET Q q 0 0 0 rg BT 159.39 89.30 Td (that ) Tj ET Q q 0 0 0 rg BT 176.60 89.30 Td (the ) Tj ET Q q 0 0 0 rg BT 191.04 89.30 Td (vessel ) Tj ET Q q 0 0 0 rg BT 217.69 89.30 Td (is ) Tj ET Q q 0 0 0 rg BT 226.58 89.30 Td (sent ) Tj ET Q q 0 0 0 rg BT 244.90 89.30 Td (only ) Tj ET Q q 0 0 0 rg BT 264.89 89.30 Td (to ) Tj ET Q q 0 0 0 rg BT 274.89 89.30 Td (safe ) Tj ET Q q 0 0 0 rg BT 293.20 89.30 Td (ports ) Tj ET Q q 0 0 0 rg BT 315.42 89.30 Td (by ) Tj ET Q q 0 0 0 rg BT 327.63 89.30 Td (the ) Tj ET Q q 0 0 0 rg BT 342.07 89.30 Td (charterer ) Tj ET Q q 0 0 0 rg BT 379.80 89.30 Td (and ) Tj ET Q q 0 0 0 rg BT 396.46 89.30 Td (carry ) Tj ET Q q 0 0 0 rg BT 419.21 89.30 Td (only ) Tj ET Q q 0 0 0 rg BT 439.21 89.30 Td (lawful ) Tj ET Q q 0 0 0 rg BT 466.97 89.30 Td (or ) Tj ET Q q 0 0 0 rg BT 477.51 89.30 Td (non ) Tj ET Q q 0 0 0 rg BT 494.73 89.30 Td (hazardous ) Tj ET Q q 0 0 0 rg BT 537.48 89.30 Td (car) Tj ET Q q 0 0 0 rg BT 549.51 89.30 Td (go. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 77.30 Td (In ) Tj ET Q q 0 0 0 rg BT 60.88 77.30 Td (a ) Tj ET Q q 0 0 0 rg BT 67.86 77.30 Td (time ) Tj ET Q q 0 0 0 rg BT 88.19 77.30 Td (charter ) Tj ET Q q 0 0 0 rg BT 118.49 77.30 Td (contract, ) Tj ET Q q 0 0 0 rg BT 155.74 77.30 Td (the ) Tj ET Q q 0 0 0 rg BT 170.50 77.30 Td (Company ) Tj ET Q q 0 0 0 rg BT 211.94 77.30 Td (is ) Tj ET Q q 0 0 0 rg BT 221.15 77.30 Td (responsible ) Tj ET Q q 0 0 0 rg BT 269.25 77.30 Td (for ) Tj ET Q q 0 0 0 rg BT 283.46 77.30 Td (all ) Tj ET Q q 0 0 0 rg BT 296.00 77.30 Td (the ) Tj ET Q q 0 0 0 rg BT 310.76 77.30 Td (costs ) Tj ET Q q 0 0 0 rg BT 333.31 77.30 Td (incurred ) Tj ET Q q 0 0 0 rg BT 369.18 77.30 Td (for ) Tj ET Q q 0 0 0 rg BT 383.38 77.30 Td (running ) Tj ET Q q 0 0 0 rg BT 417.04 77.30 Td (the ) Tj ET Q q 0 0 0 rg BT 431.80 77.30 Td (vessel ) Tj ET Q q 0 0 0 rg BT 458.79 77.30 Td (such ) Tj ET Q q 0 0 0 rg BT 479.67 77.30 Td (as ) Tj ET Q q 0 0 0 rg BT 490.55 77.30 Td (crew ) Tj ET Q q 0 0 0 rg BT 512.52 77.30 Td (costs, ) Tj ET Q q 0 0 0 rg BT 537.57 77.30 Td (vessel ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 65.30 Td (insurance, ) Tj ET Q q 0 0 0 rg BT 92.96 65.30 Td (repairs ) Tj ET Q q 0 0 0 rg BT 122.32 65.30 Td (and ) Tj ET Q q 0 0 0 rg BT 138.91 65.30 Td (maintenance ) Tj ET Q q 0 0 0 rg BT 191.58 65.30 Td (and ) Tj ET Q q 0 0 0 rg BT 208.17 65.30 Td (lubes. ) Tj ET Q q 0 0 0 rg BT 233.77 65.30 Td (The ) Tj ET Q q 0 0 0 rg BT 251.47 65.30 Td (charterer ) Tj ET Q q 0 0 0 rg BT 289.14 65.30 Td (bears ) Tj ET Q q 0 0 0 rg BT 312.38 65.30 Td (the ) Tj ET Q q 0 0 0 rg BT 326.75 65.30 Td (voyage ) Tj ET Q q 0 0 0 rg BT 357.77 65.30 Td (related ) Tj ET Q q 0 0 0 rg BT 387.13 65.30 Td (costs ) Tj ET Q q 0 0 0 rg BT 409.27 65.30 Td (such ) Tj ET Q q 0 0 0 rg BT 429.75 65.30 Td (as ) Tj ET Q q 0 0 0 rg BT 440.23 65.30 Td (bunker ) Tj ET Q q 0 0 0 rg BT 470.15 65.30 Td (expenses, ) Tj ET Q q 0 0 0 rg BT 510.89 65.30 Td (port ) Tj ET Q q 0 0 0 rg BT 529.15 65.30 Td (char) Tj ET Q q 0 0 0 rg BT 546.18 65.30 Td (ges, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 53.30 Td (canal ) Tj ET Q q 0 0 0 rg BT 73.84 53.30 Td (tools ) Tj ET Q q 0 0 0 rg BT 96.03 53.30 Td (during ) Tj ET Q q 0 0 0 rg BT 124.89 53.30 Td (the ) Tj ET Q q 0 0 0 rg BT 139.85 53.30 Td (hire ) Tj ET Q q 0 0 0 rg BT 158.14 53.30 Td (period. ) Tj ET Q q 0 0 0 rg BT 188.74 53.30 Td (The ) Tj ET Q q 0 0 0 rg BT 207.03 53.30 Td (performance ) Tj ET Q q 0 0 0 rg BT 260.30 53.30 Td (obligations ) Tj ET Q q 0 0 0 rg BT 307.49 53.30 Td (in ) Tj ET Q q 0 0 0 rg BT 318.01 53.30 Td (a ) Tj ET Q q 0 0 0 rg BT 325.19 53.30 Td (time ) Tj ET Q q 0 0 0 rg BT 345.71 53.30 Td (charter ) Tj ET Q q 0 0 0 rg BT 376.21 53.30 Td (contract ) Tj ET Q q 0 0 0 rg BT 411.16 53.30 Td (are ) Tj ET Q q 0 0 0 rg BT 426.11 53.30 Td (satisfied ) Tj ET Q q 0 0 0 rg BT 462.18 53.30 Td (over ) Tj ET Q q 0 0 0 rg BT 482.70 53.30 Td (term ) Tj ET Q q 0 0 0 rg BT 503.77 53.30 Td (of ) Tj ET Q q 0 0 0 rg BT 514.84 53.30 Td (the ) Tj ET Q q 0 0 0 rg BT 529.81 53.30 Td (contract ) Tj ET Q endstream endobj 17 0 obj <> endobj 18 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 19.60 Td ( ) Tj ET Q q 0 0 0 rg BT 86.00 19.60 Td ( ) Tj ET Q q 0 0 0 rg BT 122.00 19.60 Td ( ) Tj ET Q q 0 0 0 rg BT 158.00 19.60 Td ( ) Tj ET Q q 0 0 0 rg BT 194.00 19.60 Td ( ) Tj ET Q q 0 0 0 rg BT 230.00 19.60 Td ( ) Tj ET Q q 0 0 0 rg BT 266.00 19.60 Td ( ) Tj ET Q q 0 0 0 rg BT 302.00 19.60 Td (F-6) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 742.10 Td (beginning ) Tj ET Q q 0 0 0 rg BT 92.63 742.10 Td (when ) Tj ET Q q 0 0 0 rg BT 116.93 742.10 Td (the ) Tj ET Q q 0 0 0 rg BT 131.79 742.10 Td (vessel ) Tj ET Q q 0 0 0 rg BT 158.86 742.10 Td (is ) Tj ET Q q 0 0 0 rg BT 168.17 742.10 Td (delivered ) Tj ET Q q 0 0 0 rg BT 208.01 742.10 Td (to ) Tj ET Q q 0 0 0 rg BT 218.43 742.10 Td (the ) Tj ET Q q 0 0 0 rg BT 233.28 742.10 Td (charterer ) Tj ET Q q 0 0 0 rg BT 271.44 742.10 Td (until ) Tj ET Q q 0 0 0 rg BT 292.42 742.10 Td (it ) Tj ET Q q 0 0 0 rg BT 300.61 742.10 Td (is ) Tj ET Q q 0 0 0 rg BT 309.92 742.10 Td (redelivered ) Tj ET Q q 0 0 0 rg BT 357.53 742.10 Td (back ) Tj ET Q q 0 0 0 rg BT 379.04 742.10 Td (to ) Tj ET Q q 0 0 0 rg BT 389.46 742.10 Td (the ) Tj ET Q q 0 0 0 rg BT 404.32 742.10 Td (Company) Tj ET Q q 0 0 0 rg BT 442.55 742.10 Td (. ) Tj ET Q q 0 0 0 rg BT 447.50 742.10 Td (The ) Tj ET Q q 0 0 0 rg BT 465.69 742.10 Td (charterer ) Tj ET Q q 0 0 0 rg BT 503.85 742.10 Td (generally ) Tj ET Q q 0 0 0 rg BT 543.69 742.10 Td (pays ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 730.10 Td (the ) Tj ET Q q 0 0 0 rg BT 63.82 730.10 Td (charter ) Tj ET Q q 0 0 0 rg BT 93.17 730.10 Td (hire ) Tj ET Q q 0 0 0 rg BT 110.32 730.10 Td (in ) Tj ET Q q 0 0 0 rg BT 119.70 730.10 Td (advance ) Tj ET Q q 0 0 0 rg BT 154.06 730.10 Td (of ) Tj ET Q q 0 0 0 rg BT 163.99 730.10 Td (the ) Tj ET Q q 0 0 0 rg BT 177.81 730.10 Td (upcoming ) Tj ET Q q 0 0 0 rg BT 219.40 730.10 Td (contract ) Tj ET Q q 0 0 0 rg BT 253.21 730.10 Td (period. ) Tj ET Q q 0 0 0 rg BT 282.74 730.10 Td (The ) Tj ET Q q 0 0 0 rg BT 299.89 730.10 Td (time ) Tj ET Q q 0 0 0 rg BT 319.26 730.10 Td (charter ) Tj ET Q q 0 0 0 rg BT 348.62 730.10 Td (contracts ) Tj ET Q q 0 0 0 rg BT 386.31 730.10 Td (are ) Tj ET Q q 0 0 0 rg BT 400.12 730.10 Td (considered ) Tj ET Q q 0 0 0 rg BT 445.04 730.10 Td (operating ) Tj ET Q q 0 0 0 rg BT 484.41 730.10 Td (leases ) Tj ET Q q 0 0 0 rg BT 509.88 730.10 Td (and ) Tj ET Q q 0 0 0 rg BT 525.92 730.10 Td (therefore ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 718.10 Td (do ) Tj ET Q q 0 0 0 rg BT 62.56 718.10 Td (not ) Tj ET Q q 0 0 0 rg BT 77.89 718.10 Td (fall ) Tj ET Q q 0 0 0 rg BT 93.78 718.10 Td (under ) Tj ET Q q 0 0 0 rg BT 119.10 718.10 Td (the ) Tj ET Q q 0 0 0 rg BT 133.88 718.10 Td (scope ) Tj ET Q q 0 0 0 rg BT 159.20 718.10 Td (of ) Tj ET Q q 0 0 0 rg BT 169.53 718.10 Td (ASC ) Tj ET Q q 0 0 0 rg BT 191.54 718.10 Td (606 ) Tj ET Q q 0 0 0 rg BT 209.09 718.10 Td (because ) Tj ET Q q 0 0 0 rg BT 243.30 718.10 Td (\(i\) ) Tj ET Q q 0 0 0 rg BT 255.29 718.10 Td (the ) Tj ET Q q 0 0 0 rg BT 270.07 718.10 Td (vessel ) Tj ET Q q 0 0 0 rg BT 297.06 718.10 Td (is ) Tj ET Q q 0 0 0 rg BT 306.29 718.10 Td (an ) Tj ET Q q 0 0 0 rg BT 318.29 718.10 Td (identifiable ) Tj ET Q q 0 0 0 rg BT 366.38 718.10 Td (asset ) Tj ET Q q 0 0 0 rg BT 388.38 718.10 Td (\(ii\) ) Tj ET Q q 0 0 0 rg BT 403.15 718.10 Td (the ) Tj ET Q q 0 0 0 rg BT 417.93 718.10 Td (Company ) Tj ET Q q 0 0 0 rg BT 459.37 718.10 Td (does ) Tj ET Q q 0 0 0 rg BT 480.26 718.10 Td (not ) Tj ET Q q 0 0 0 rg BT 495.60 718.10 Td (have ) Tj ET Q q 0 0 0 rg BT 517.03 718.10 Td (substantive ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 706.10 Td (substitution ) Tj ET Q q 0 0 0 rg BT 99.35 706.10 Td (rights ) Tj ET Q q 0 0 0 rg BT 124.81 706.10 Td (and ) Tj ET Q q 0 0 0 rg BT 141.93 706.10 Td (\(iii\) ) Tj ET Q q 0 0 0 rg BT 159.60 706.10 Td (the ) Tj ET Q q 0 0 0 rg BT 174.49 706.10 Td (charterer ) Tj ET Q q 0 0 0 rg BT 212.70 706.10 Td (has ) Tj ET Q q 0 0 0 rg BT 228.70 706.10 Td (the ) Tj ET Q q 0 0 0 rg BT 243.60 706.10 Td (right ) Tj ET Q q 0 0 0 rg BT 265.16 706.10 Td (to ) Tj ET Q q 0 0 0 rg BT 275.62 706.10 Td (control ) Tj ET Q q 0 0 0 rg BT 306.62 706.10 Td (the ) Tj ET Q q 0 0 0 rg BT 321.52 706.10 Td (use ) Tj ET Q q 0 0 0 rg BT 337.53 706.10 Td (of ) Tj ET Q q 0 0 0 rg BT 348.54 706.10 Td (the ) Tj ET Q q 0 0 0 rg BT 363.43 706.10 Td (vessel ) Tj ET Q q 0 0 0 rg BT 390.55 706.10 Td (during ) Tj ET Q q 0 0 0 rg BT 419.33 706.10 Td (the ) Tj ET Q q 0 0 0 rg BT 434.23 706.10 Td (term ) Tj ET Q q 0 0 0 rg BT 455.23 706.10 Td (of ) Tj ET Q q 0 0 0 rg BT 466.24 706.10 Td (the ) Tj ET Q q 0 0 0 rg BT 481.14 706.10 Td (contract ) Tj ET Q q 0 0 0 rg BT 516.02 706.10 Td (and ) Tj ET Q q 0 0 0 rg BT 533.13 706.10 Td (derives ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 694.10 Td (the ) Tj ET Q q 0 0 0 rg BT 64.72 694.10 Td (economic ) Tj ET Q q 0 0 0 rg BT 106.09 694.10 Td (benefits ) Tj ET Q q 0 0 0 rg BT 140.24 694.10 Td (from ) Tj ET Q q 0 0 0 rg BT 162.18 694.10 Td (such ) Tj ET Q q 0 0 0 rg BT 183.01 694.10 Td (use.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 668.90 Td (V) Tj ET Q q 0 0 0 rg BT 55.00 668.90 Td (oyage ) Tj ET Q q 0 0 0 rg BT 81.38 668.90 Td (charters) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 89.00 643.70 Td (In ) Tj ET Q q 0 0 0 rg BT 99.72 643.70 Td (a ) Tj ET Q q 0 0 0 rg BT 106.54 643.70 Td (voyage ) Tj ET Q q 0 0 0 rg BT 137.81 643.70 Td (charter ) Tj ET Q q 0 0 0 rg BT 167.95 643.70 Td (contract, ) Tj ET Q q 0 0 0 rg BT 205.04 643.70 Td (the ) Tj ET Q q 0 0 0 rg BT 219.64 643.70 Td (charterer ) Tj ET Q q 0 0 0 rg BT 257.55 643.70 Td (hires ) Tj ET Q q 0 0 0 rg BT 279.37 643.70 Td (the ) Tj ET Q q 0 0 0 rg BT 293.98 643.70 Td (vessel ) Tj ET Q q 0 0 0 rg BT 320.80 643.70 Td (to ) Tj ET Q q 0 0 0 rg BT 330.97 643.70 Td (transport ) Tj ET Q q 0 0 0 rg BT 368.90 643.70 Td (a ) Tj ET Q q 0 0 0 rg BT 375.73 643.70 Td (specific ) Tj ET Q q 0 0 0 rg BT 409.21 643.70 Td (agreed-upon ) Tj ET Q q 0 0 0 rg BT 461.57 643.70 Td (car) Tj ET Q q 0 0 0 rg BT 473.59 643.70 Td (go ) Tj ET Q q 0 0 0 rg BT 485.98 643.70 Td (for ) Tj ET Q q 0 0 0 rg BT 500.03 643.70 Td (a ) Tj ET Q q 0 0 0 rg BT 506.85 643.70 Td (single ) Tj ET Q q 0 0 0 rg BT 533.13 643.70 Td (voyage ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 631.70 Td (which ) Tj ET Q q 0 0 0 rg BT 77.14 631.70 Td (may ) Tj ET Q q 0 0 0 rg BT 97.05 631.70 Td (contain ) Tj ET Q q 0 0 0 rg BT 129.19 631.70 Td (multiple ) Tj ET Q q 0 0 0 rg BT 165.22 631.70 Td (load ) Tj ET Q q 0 0 0 rg BT 185.13 631.70 Td (ports ) Tj ET Q q 0 0 0 rg BT 207.83 631.70 Td (and ) Tj ET Q q 0 0 0 rg BT 224.97 631.70 Td (dischar) Tj ET Q q 0 0 0 rg BT 253.67 631.70 Td (ge ) Tj ET Q q 0 0 0 rg BT 265.80 631.70 Td (ports. ) Tj ET Q q 0 0 0 rg BT 290.81 631.70 Td (The ) Tj ET Q q 0 0 0 rg BT 309.05 631.70 Td (consideration ) Tj ET Q q 0 0 0 rg BT 365.62 631.70 Td (in ) Tj ET Q q 0 0 0 rg BT 376.10 631.70 Td (such ) Tj ET Q q 0 0 0 rg BT 397.13 631.70 Td (a ) Tj ET Q q 0 0 0 rg BT 404.27 631.70 Td (contract ) Tj ET Q q 0 0 0 rg BT 439.17 631.70 Td (is ) Tj ET Q q 0 0 0 rg BT 448.54 631.70 Td (determined ) Tj ET Q q 0 0 0 rg BT 496.22 631.70 Td (on ) Tj ET Q q 0 0 0 rg BT 508.92 631.70 Td (the ) Tj ET Q q 0 0 0 rg BT 523.83 631.70 Td (basis ) Tj ET Q q 0 0 0 rg BT 546.53 631.70 Td (of ) Tj ET Q q 0 0 0 rg BT 557.56 631.70 Td (a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 619.70 Td (freight ) Tj ET Q q 0 0 0 rg BT 78.52 619.70 Td (rate ) Tj ET Q q 0 0 0 rg BT 95.38 619.70 Td (per ) Tj ET Q q 0 0 0 rg BT 110.02 619.70 Td (metric ) Tj ET Q q 0 0 0 rg BT 137.43 619.70 Td (ton ) Tj ET Q q 0 0 0 rg BT 152.08 619.70 Td (of ) Tj ET Q q 0 0 0 rg BT 162.27 619.70 Td (car) Tj ET Q q 0 0 0 rg BT 174.30 619.70 Td (go ) Tj ET Q q 0 0 0 rg BT 186.17 619.70 Td (carried ) Tj ET Q q 0 0 0 rg BT 215.79 619.70 Td (or ) Tj ET Q q 0 0 0 rg BT 225.99 619.70 Td (occasionally ) Tj ET Q q 0 0 0 rg BT 277.84 619.70 Td (on ) Tj ET Q q 0 0 0 rg BT 289.71 619.70 Td (a ) Tj ET Q q 0 0 0 rg BT 296.02 619.70 Td (lump ) Tj ET Q q 0 0 0 rg BT 318.44 619.70 Td (sum ) Tj ET Q q 0 0 0 rg BT 336.98 619.70 Td (basis. ) Tj ET Q q 0 0 0 rg BT 361.22 619.70 Td (The ) Tj ET Q q 0 0 0 rg BT 378.63 619.70 Td (charter ) Tj ET Q q 0 0 0 rg BT 408.26 619.70 Td (party ) Tj ET Q q 0 0 0 rg BT 430.67 619.70 Td (generally ) Tj ET Q q 0 0 0 rg BT 469.74 619.70 Td (has ) Tj ET Q q 0 0 0 rg BT 484.94 619.70 Td (a ) Tj ET Q q 0 0 0 rg BT 491.25 619.70 Td (minimum ) Tj ET Q q 0 0 0 rg BT 532.01 619.70 Td (amount ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 607.70 Td (of ) Tj ET Q q 0 0 0 rg BT 60.54 607.70 Td (car) Tj ET Q q 0 0 0 rg BT 72.56 607.70 Td (go. ) Tj ET Q q 0 0 0 rg BT 87.11 607.70 Td (The ) Tj ET Q q 0 0 0 rg BT 104.87 607.70 Td (charterer ) Tj ET Q q 0 0 0 rg BT 142.60 607.70 Td (is ) Tj ET Q q 0 0 0 rg BT 151.48 607.70 Td (responsible ) Tj ET Q q 0 0 0 rg BT 199.23 607.70 Td (for ) Tj ET Q q 0 0 0 rg BT 213.10 607.70 Td (any ) Tj ET Q q 0 0 0 rg BT 229.75 607.70 Td (short ) Tj ET Q q 0 0 0 rg BT 251.96 607.70 Td (loading ) Tj ET Q q 0 0 0 rg BT 284.16 607.70 Td (of ) Tj ET Q q 0 0 0 rg BT 294.70 607.70 Td (car) Tj ET Q q 0 0 0 rg BT 306.73 607.70 Td (go ) Tj ET Q q 0 0 0 rg BT 318.94 607.70 Td (or ) Tj ET Q q 0 0 0 rg BT 329.47 607.70 Td ("dead" ) Tj ET Q q 0 0 0 rg BT 358.72 607.70 Td (freight. ) Tj ET Q q 0 0 0 rg BT 389.93 607.70 Td (The ) Tj ET Q q 0 0 0 rg BT 407.68 607.70 Td (voyage ) Tj ET Q q 0 0 0 rg BT 438.77 607.70 Td (contract ) Tj ET Q q 0 0 0 rg BT 473.18 607.70 Td (generally ) Tj ET Q q 0 0 0 rg BT 512.59 607.70 Td (has ) Tj ET Q q 0 0 0 rg BT 528.13 607.70 Td (standard ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 595.70 Td (payment ) Tj ET Q q 0 0 0 rg BT 88.09 595.70 Td (terms ) Tj ET Q q 0 0 0 rg BT 113.96 595.70 Td (of ) Tj ET Q q 0 0 0 rg BT 125.94 595.70 Td (95% ) Tj ET Q q 0 0 0 rg BT 147.92 595.70 Td (freight ) Tj ET Q q 0 0 0 rg BT 178.23 595.70 Td (paid ) Tj ET Q q 0 0 0 rg BT 199.10 595.70 Td (within ) Tj ET Q q 0 0 0 rg BT 228.31 595.70 Td (three ) Tj ET Q q 0 0 0 rg BT 251.94 595.70 Td (days ) Tj ET Q q 0 0 0 rg BT 273.93 595.70 Td (after ) Tj ET Q q 0 0 0 rg BT 295.89 595.70 Td (completion ) Tj ET Q q 0 0 0 rg BT 344.54 595.70 Td (of ) Tj ET Q q 0 0 0 rg BT 356.52 595.70 Td (loading. ) Tj ET Q q 0 0 0 rg BT 392.40 595.70 Td (The ) Tj ET Q q 0 0 0 rg BT 411.60 595.70 Td (voyage ) Tj ET Q q 0 0 0 rg BT 444.13 595.70 Td (charter ) Tj ET Q q 0 0 0 rg BT 475.54 595.70 Td (party ) Tj ET Q q 0 0 0 rg BT 499.74 595.70 Td (generally ) Tj ET Q q 0 0 0 rg BT 540.59 595.70 Td (has ) Tj ET Q q 0 0 0 rg BT 557.57 595.70 Td (a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 583.70 Td ("demurrage" ) Tj ET Q q 0 0 0 rg BT 103.68 583.70 Td (or ) Tj ET Q q 0 0 0 rg BT 114.78 583.70 Td ("despatch" ) Tj ET Q q 0 0 0 rg BT 160.70 583.70 Td (clause. ) Tj ET Q q 0 0 0 rg BT 190.34 583.70 Td (As ) Tj ET Q q 0 0 0 rg BT 204.22 583.70 Td (per ) Tj ET Q q 0 0 0 rg BT 219.75 583.70 Td (this ) Tj ET Q q 0 0 0 rg BT 236.97 583.70 Td (clause, ) Tj ET Q q 0 0 0 rg BT 267.22 583.70 Td (the ) Tj ET Q q 0 0 0 rg BT 282.20 583.70 Td (charterer ) Tj ET Q q 0 0 0 rg BT 320.49 583.70 Td (reimburses ) Tj ET Q q 0 0 0 rg BT 367.13 583.70 Td (the ) Tj ET Q q 0 0 0 rg BT 382.11 583.70 Td (Company ) Tj ET Q q 0 0 0 rg BT 423.77 583.70 Td (for ) Tj ET Q q 0 0 0 rg BT 438.19 583.70 Td (any ) Tj ET Q q 0 0 0 rg BT 455.40 583.70 Td (potential ) Tj ET Q q 0 0 0 rg BT 493.15 583.70 Td (delays ) Tj ET Q q 0 0 0 rg BT 521.47 583.70 Td (exceeding ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 571.70 Td (the ) Tj ET Q q 0 0 0 rg BT 64.94 571.70 Td (allowed ) Tj ET Q q 0 0 0 rg BT 99.32 571.70 Td (laytime ) Tj ET Q q 0 0 0 rg BT 132.04 571.70 Td (as ) Tj ET Q q 0 0 0 rg BT 143.10 571.70 Td (per ) Tj ET Q q 0 0 0 rg BT 158.59 571.70 Td (the ) Tj ET Q q 0 0 0 rg BT 173.53 571.70 Td (charter ) Tj ET Q q 0 0 0 rg BT 204.01 571.70 Td (party ) Tj ET Q q 0 0 0 rg BT 227.29 571.70 Td (clause ) Tj ET Q q 0 0 0 rg BT 255.00 571.70 Td (at ) Tj ET Q q 0 0 0 rg BT 264.94 571.70 Td (the ) Tj ET Q q 0 0 0 rg BT 279.88 571.70 Td (ports ) Tj ET Q q 0 0 0 rg BT 302.61 571.70 Td (visited ) Tj ET Q q 0 0 0 rg BT 332.00 571.70 Td (which ) Tj ET Q q 0 0 0 rg BT 359.17 571.70 Td (is ) Tj ET Q q 0 0 0 rg BT 368.56 571.70 Td (recorded ) Tj ET Q q 0 0 0 rg BT 406.26 571.70 Td (as ) Tj ET Q q 0 0 0 rg BT 417.32 571.70 Td (demurrage ) Tj ET Q q 0 0 0 rg BT 462.80 571.70 Td (revenue. ) Tj ET Q q 0 0 0 rg BT 499.67 571.70 Td (Conversely) Tj ET Q q 0 0 0 rg BT 544.57 571.70 Td (, ) Tj ET Q q 0 0 0 rg BT 549.79 571.70 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 559.70 Td (charterer ) Tj ET Q q 0 0 0 rg BT 88.28 559.70 Td (is ) Tj ET Q q 0 0 0 rg BT 97.70 559.70 Td (given ) Tj ET Q q 0 0 0 rg BT 122.67 559.70 Td (credit ) Tj ET Q q 0 0 0 rg BT 148.18 559.70 Td (if ) Tj ET Q q 0 0 0 rg BT 157.05 559.70 Td (the ) Tj ET Q q 0 0 0 rg BT 172.02 559.70 Td (loading/dischar) Tj ET Q q 0 0 0 rg BT 233.49 559.70 Td (ging ) Tj ET Q q 0 0 0 rg BT 254.02 559.70 Td (activities ) Tj ET Q q 0 0 0 rg BT 292.87 559.70 Td (happen ) Tj ET Q q 0 0 0 rg BT 324.50 559.70 Td (within ) Tj ET Q q 0 0 0 rg BT 352.81 559.70 Td (the ) Tj ET Q q 0 0 0 rg BT 367.78 559.70 Td (allowed ) Tj ET Q q 0 0 0 rg BT 402.19 559.70 Td (laytime ) Tj ET Q q 0 0 0 rg BT 434.93 559.70 Td (which ) Tj ET Q q 0 0 0 rg BT 462.12 559.70 Td (is ) Tj ET Q q 0 0 0 rg BT 471.54 559.70 Td (despatch ) Tj ET Q q 0 0 0 rg BT 509.28 559.70 Td (resulting ) Tj ET Q q 0 0 0 rg BT 547.03 559.70 Td (in ) Tj ET Q q 0 0 0 rg BT 557.56 559.70 Td (a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 547.70 Td (reduction ) Tj ET Q q 0 0 0 rg BT 89.69 547.70 Td (in ) Tj ET Q q 0 0 0 rg BT 99.40 547.70 Td (revenue. ) Tj ET Q q 0 0 0 rg BT 135.47 547.70 Td (In ) Tj ET Q q 0 0 0 rg BT 145.73 547.70 Td (a ) Tj ET Q q 0 0 0 rg BT 152.10 547.70 Td (voyage ) Tj ET Q q 0 0 0 rg BT 182.91 547.70 Td (charter ) Tj ET Q q 0 0 0 rg BT 212.59 547.70 Td (contract, ) Tj ET Q q 0 0 0 rg BT 249.22 547.70 Td (the ) Tj ET Q q 0 0 0 rg BT 263.36 547.70 Td (performance ) Tj ET Q q 0 0 0 rg BT 315.82 547.70 Td (obligations ) Tj ET Q q 0 0 0 rg BT 362.19 547.70 Td (begin ) Tj ET Q q 0 0 0 rg BT 386.33 547.70 Td (to ) Tj ET Q q 0 0 0 rg BT 396.04 547.70 Td (be ) Tj ET Q q 0 0 0 rg BT 407.41 547.70 Td (satisfied ) Tj ET Q q 0 0 0 rg BT 442.66 547.70 Td (once ) Tj ET Q q 0 0 0 rg BT 463.47 547.70 Td (the ) Tj ET Q q 0 0 0 rg BT 477.61 547.70 Td (vessel ) Tj ET Q q 0 0 0 rg BT 503.98 547.70 Td (begins ) Tj ET Q q 0 0 0 rg BT 532.02 547.70 Td (loading ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 535.70 Td (the ) Tj ET Q q 0 0 0 rg BT 64.96 535.70 Td (car) Tj ET Q q 0 0 0 rg BT 76.99 535.70 Td (go. ) Tj ET Q q 0 0 0 rg BT 92.04 535.70 Td (The ) Tj ET Q q 0 0 0 rg BT 110.34 535.70 Td (Company ) Tj ET Q q 0 0 0 rg BT 151.97 535.70 Td (determined ) Tj ET Q q 0 0 0 rg BT 199.70 535.70 Td (that ) Tj ET Q q 0 0 0 rg BT 217.44 535.70 Td (its ) Tj ET Q q 0 0 0 rg BT 229.64 535.70 Td (voyage ) Tj ET Q q 0 0 0 rg BT 261.26 535.70 Td (charter ) Tj ET Q q 0 0 0 rg BT 291.77 535.70 Td (contracts ) Tj ET Q q 0 0 0 rg BT 330.61 535.70 Td (consist ) Tj ET Q q 0 0 0 rg BT 361.13 535.70 Td (of ) Tj ET Q q 0 0 0 rg BT 372.21 535.70 Td (a ) Tj ET Q q 0 0 0 rg BT 379.40 535.70 Td (single ) Tj ET Q q 0 0 0 rg BT 406.03 535.70 Td (performance ) Tj ET Q q 0 0 0 rg BT 459.30 535.70 Td (obligation ) Tj ET Q q 0 0 0 rg BT 502.60 535.70 Td (of ) Tj ET Q q 0 0 0 rg BT 513.68 535.70 Td (transporting ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 523.70 Td (the ) Tj ET Q q 0 0 0 rg BT 64.94 523.70 Td (car) Tj ET Q q 0 0 0 rg BT 76.97 523.70 Td (go ) Tj ET Q q 0 0 0 rg BT 89.69 523.70 Td (within ) Tj ET Q q 0 0 0 rg BT 117.97 523.70 Td (a ) Tj ET Q q 0 0 0 rg BT 125.13 523.70 Td (specified ) Tj ET Q q 0 0 0 rg BT 163.95 523.70 Td (time ) Tj ET Q q 0 0 0 rg BT 184.45 523.70 Td (period. ) Tj ET Q q 0 0 0 rg BT 215.02 523.70 Td (Therefore, ) Tj ET Q q 0 0 0 rg BT 259.66 523.70 Td (the ) Tj ET Q q 0 0 0 rg BT 274.60 523.70 Td (performance ) Tj ET Q q 0 0 0 rg BT 327.84 523.70 Td (obligation ) Tj ET Q q 0 0 0 rg BT 371.12 523.70 Td (is ) Tj ET Q q 0 0 0 rg BT 380.51 523.70 Td (met ) Tj ET Q q 0 0 0 rg BT 398.23 523.70 Td (evenly ) Tj ET Q q 0 0 0 rg BT 427.61 523.70 Td (as ) Tj ET Q q 0 0 0 rg BT 438.67 523.70 Td (the ) Tj ET Q q 0 0 0 rg BT 453.61 523.70 Td (voyage ) Tj ET Q q 0 0 0 rg BT 485.21 523.70 Td (progresses. ) Tj ET Q q 0 0 0 rg BT 532.64 523.70 Td (and ) Tj ET Q q 0 0 0 rg BT 549.80 523.70 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 511.70 Td (revenue ) Tj ET Q q 0 0 0 rg BT 83.77 511.70 Td (is ) Tj ET Q q 0 0 0 rg BT 92.56 511.70 Td (recognized ) Tj ET Q q 0 0 0 rg BT 138.55 511.70 Td (on ) Tj ET Q q 0 0 0 rg BT 150.67 511.70 Td (a ) Tj ET Q q 0 0 0 rg BT 157.23 511.70 Td (straight ) Tj ET Q q 0 0 0 rg BT 189.35 511.70 Td (line ) Tj ET Q q 0 0 0 rg BT 206.47 511.70 Td (basis ) Tj ET Q q 0 0 0 rg BT 228.59 511.70 Td (over ) Tj ET Q q 0 0 0 rg BT 248.48 511.70 Td (the ) Tj ET Q q 0 0 0 rg BT 262.82 511.70 Td (voyage ) Tj ET Q q 0 0 0 rg BT 293.82 511.70 Td (days ) Tj ET Q q 0 0 0 rg BT 314.28 511.70 Td (from ) Tj ET Q q 0 0 0 rg BT 335.84 511.70 Td (the ) Tj ET Q q 0 0 0 rg BT 350.18 511.70 Td (commencement ) Tj ET Q q 0 0 0 rg BT 415.61 511.70 Td (of ) Tj ET Q q 0 0 0 rg BT 426.06 511.70 Td (the ) Tj ET Q q 0 0 0 rg BT 440.40 511.70 Td (loading ) Tj ET Q q 0 0 0 rg BT 472.52 511.70 Td (of ) Tj ET Q q 0 0 0 rg BT 482.97 511.70 Td (car) Tj ET Q q 0 0 0 rg BT 495.00 511.70 Td (go ) Tj ET Q q 0 0 0 rg BT 507.12 511.70 Td (to ) Tj ET Q q 0 0 0 rg BT 517.02 511.70 Td (completion ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 499.70 Td (of ) Tj ET Q q 0 0 0 rg BT 60.83 499.70 Td (dischar) Tj ET Q q 0 0 0 rg BT 89.53 499.70 Td (ge.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 89.00 474.50 Td (The ) Tj ET Q q 0 0 0 rg BT 105.85 474.50 Td (voyage ) Tj ET Q q 0 0 0 rg BT 136.03 474.50 Td (contracts ) Tj ET Q q 0 0 0 rg BT 173.43 474.50 Td (are ) Tj ET Q q 0 0 0 rg BT 186.94 474.50 Td (considered ) Tj ET Q q 0 0 0 rg BT 231.55 474.50 Td (service ) Tj ET Q q 0 0 0 rg BT 261.17 474.50 Td (contracts ) Tj ET Q q 0 0 0 rg BT 298.57 474.50 Td (which ) Tj ET Q q 0 0 0 rg BT 324.31 474.50 Td (fall ) Tj ET Q q 0 0 0 rg BT 338.94 474.50 Td (under ) Tj ET Q q 0 0 0 rg BT 363.01 474.50 Td (the ) Tj ET Q q 0 0 0 rg BT 376.53 474.50 Td (provisions ) Tj ET Q q 0 0 0 rg BT 419.50 474.50 Td (of ) Tj ET Q q 0 0 0 rg BT 428.85 474.50 Td (ASC ) Tj ET Q q 0 0 0 rg BT 449.60 474.50 Td (606 ) Tj ET Q q 0 0 0 rg BT 465.90 474.50 Td (because ) Tj ET Q q 0 0 0 rg BT 498.85 474.50 Td (\(i\) ) Tj ET Q q 0 0 0 rg BT 509.59 474.50 Td (the ) Tj ET Q q 0 0 0 rg BT 523.11 474.50 Td (Company ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 462.50 Td (as ) Tj ET Q q 0 0 0 rg BT 60.93 462.50 Td (the ) Tj ET Q q 0 0 0 rg BT 75.75 462.50 Td (ship ) Tj ET Q q 0 0 0 rg BT 95.02 462.50 Td (owner ) Tj ET Q q 0 0 0 rg BT 122.62 462.50 Td (retains ) Tj ET Q q 0 0 0 rg BT 151.88 462.50 Td (the ) Tj ET Q q 0 0 0 rg BT 166.69 462.50 Td (control ) Tj ET Q q 0 0 0 rg BT 197.62 462.50 Td (over ) Tj ET Q q 0 0 0 rg BT 217.99 462.50 Td (the ) Tj ET Q q 0 0 0 rg BT 232.81 462.50 Td (operations ) Tj ET Q q 0 0 0 rg BT 277.07 462.50 Td (of ) Tj ET Q q 0 0 0 rg BT 288.00 462.50 Td (the ) Tj ET Q q 0 0 0 rg BT 302.82 462.50 Td (vessel ) Tj ET Q q 0 0 0 rg BT 329.86 462.50 Td (such ) Tj ET Q q 0 0 0 rg BT 350.80 462.50 Td (as ) Tj ET Q q 0 0 0 rg BT 361.73 462.50 Td (directing ) Tj ET Q q 0 0 0 rg BT 399.87 462.50 Td (the ) Tj ET Q q 0 0 0 rg BT 414.69 462.50 Td (routes ) Tj ET Q q 0 0 0 rg BT 441.73 462.50 Td (taken ) Tj ET Q q 0 0 0 rg BT 465.99 462.50 Td (or ) Tj ET Q q 0 0 0 rg BT 476.92 462.50 Td (the ) Tj ET Q q 0 0 0 rg BT 491.74 462.50 Td (vessel ) Tj ET Q q 0 0 0 rg BT 518.78 462.50 Td (speed. ) Tj ET Q q 0 0 0 rg BT 546.47 462.50 Td (The ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 450.50 Td (voyage ) Tj ET Q q 0 0 0 rg BT 81.56 450.50 Td (contracts ) Tj ET Q q 0 0 0 rg BT 120.33 450.50 Td (generally ) Tj ET Q q 0 0 0 rg BT 160.21 450.50 Td (have ) Tj ET Q q 0 0 0 rg BT 181.77 450.50 Td (variable ) Tj ET Q q 0 0 0 rg BT 216.66 450.50 Td (consideration ) Tj ET Q q 0 0 0 rg BT 273.21 450.50 Td (in ) Tj ET Q q 0 0 0 rg BT 283.67 450.50 Td (the ) Tj ET Q q 0 0 0 rg BT 298.56 450.50 Td (form ) Tj ET Q q 0 0 0 rg BT 320.68 450.50 Td (of ) Tj ET Q q 0 0 0 rg BT 331.69 450.50 Td (demurrage ) Tj ET Q q 0 0 0 rg BT 377.13 450.50 Td (or ) Tj ET Q q 0 0 0 rg BT 388.14 450.50 Td (despatch. ) Tj ET Q q 0 0 0 rg BT 428.11 450.50 Td (The ) Tj ET Q q 0 0 0 rg BT 446.34 450.50 Td (amount ) Tj ET Q q 0 0 0 rg BT 479.02 450.50 Td (of ) Tj ET Q q 0 0 0 rg BT 490.03 450.50 Td (revenue ) Tj ET Q q 0 0 0 rg BT 524.35 450.50 Td (earned ) Tj ET Q q 0 0 0 rg BT 553.68 450.50 Td (as ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 438.50 Td (demurrage ) Tj ET Q q 0 0 0 rg BT 95.25 438.50 Td (or ) Tj ET Q q 0 0 0 rg BT 106.08 438.50 Td (despatch ) Tj ET Q q 0 0 0 rg BT 143.57 438.50 Td (paid ) Tj ET Q q 0 0 0 rg BT 163.29 438.50 Td (by ) Tj ET Q q 0 0 0 rg BT 175.79 438.50 Td (the ) Tj ET Q q 0 0 0 rg BT 190.50 438.50 Td (Company ) Tj ET Q q 0 0 0 rg BT 231.89 438.50 Td (for ) Tj ET Q q 0 0 0 rg BT 246.05 438.50 Td (the ) Tj ET Q q 0 0 0 rg BT 260.77 438.50 Td (three ) Tj ET Q q 0 0 0 rg BT 283.25 438.50 Td (and ) Tj ET Q q 0 0 0 rg BT 300.19 438.50 Td (nine ) Tj ET Q q 0 0 0 rg BT 319.91 438.50 Td (months ) Tj ET Q q 0 0 0 rg BT 351.86 438.50 Td (ended ) Tj ET Q q 0 0 0 rg BT 378.23 438.50 Td (September ) Tj ET Q q 0 0 0 rg BT 423.50 438.50 Td (30, ) Tj ET Q q 0 0 0 rg BT 438.50 438.50 Td (2018 ) Tj ET Q q 0 0 0 rg BT 461.00 438.50 Td (is ) Tj ET Q q 0 0 0 rg BT 470.17 438.50 Td (not ) Tj ET Q q 0 0 0 rg BT 485.44 438.50 Td (material.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 413.30 Td ( ) Tj ET Q q 0 0 0 rg BT 86.00 413.30 Td (The following table shows the revenues earned from time charters and voyage charters for the three and nine months ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 401.30 Td (ended September 30, 2018:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 377.30 Td ( ) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 153.50 366.80 100.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 253.50 366.80 100.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 353.50 366.80 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 357.50 366.80 100.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 153.50 326.80 100.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 253.50 326.80 100.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 353.50 326.80 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 357.50 326.80 100.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 153.50 296.80 100.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 253.50 296.80 100.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 353.50 296.80 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 357.50 296.80 100.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 253.5 366.8 m 353.5 366.8 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 253.5 341.8 m 353.5 341.8 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 353.5 366.8 m 357.5 366.8 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 353.5 341.8 m 357.5 341.8 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357.5 366.8 m 457.5 366.8 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357.5 341.8 m 457.5 341.8 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 253.5 296.8 m 353.5 296.8 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 253.5 282.8 m 353.5 282.8 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 253.5 280.8 m 353.5 280.8 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 353.5 296.8 m 357.5 296.8 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 353.5 282.8 m 357.5 282.8 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 353.5 280.8 m 357.5 280.8 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357.5 296.8 m 457.5 296.8 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357.5 282.8 m 457.5 282.8 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357.5 280.8 m 457.5 280.8 l s BT /F2 10.00 Tf ET q 0 0 0 rg BT 257.50 356.48 Td (Thr) Tj ET Q q 0 0 0 rg BT 274.08 356.48 Td (ee Months Ended) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 261.25 346.48 Td (September) Tj ET Q q 0 0 0 rg BT 307.26 346.48 Td ( 30, 2018) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 364.20 356.48 Td (Nine Months Ended) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 365.25 346.48 Td (September) Tj ET Q q 0 0 0 rg BT 411.17 346.48 Td ( 30, 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 156.00 316.47 Td (T) Tj ET Q q 0 0 0 rg BT 161.93 316.47 Td (ime charters) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 256.00 316.47 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 304.65 316.47 Td (20,624,251) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 360.00 316.47 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 408.65 316.47 Td (55,578,748) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 156.00 301.47 Td (V) Tj ET Q q 0 0 0 rg BT 161.93 301.47 Td (oyage charters) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 304.65 301.47 Td (15,590,892) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 408.65 301.47 Td (51,780,555) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 256.00 286.47 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 304.65 286.47 Td (36,215,143) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 360.00 286.47 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 403.65 286.47 Td (107,359,303) Tj ET Q BT /F1 10.00 Tf ET BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 270.30 Td (Contract ) Tj ET Q q 0 0 0 rg BT 88.06 270.30 Td (costs) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 89.00 245.10 Td (In ) Tj ET Q q 0 0 0 rg BT 99.74 245.10 Td (a ) Tj ET Q q 0 0 0 rg BT 106.59 245.10 Td (voyage ) Tj ET Q q 0 0 0 rg BT 137.88 245.10 Td (contract, ) Tj ET Q q 0 0 0 rg BT 175.00 245.10 Td (the ) Tj ET Q q 0 0 0 rg BT 189.63 245.10 Td (Company ) Tj ET Q q 0 0 0 rg BT 230.92 245.10 Td (bears ) Tj ET Q q 0 0 0 rg BT 254.43 245.10 Td (all ) Tj ET Q q 0 0 0 rg BT 266.84 245.10 Td (voyage ) Tj ET Q q 0 0 0 rg BT 298.13 245.10 Td (related ) Tj ET Q q 0 0 0 rg BT 327.75 245.10 Td (costs ) Tj ET Q q 0 0 0 rg BT 350.16 245.10 Td (such ) Tj ET Q q 0 0 0 rg BT 370.90 245.10 Td (as ) Tj ET Q q 0 0 0 rg BT 381.64 245.10 Td (fuel ) Tj ET Q q 0 0 0 rg BT 399.60 245.10 Td (costs, ) Tj ET Q q 0 0 0 rg BT 424.51 245.10 Td (port ) Tj ET Q q 0 0 0 rg BT 443.03 245.10 Td (char) Tj ET Q q 0 0 0 rg BT 460.06 245.10 Td (ges ) Tj ET Q q 0 0 0 rg BT 475.80 245.10 Td (and ) Tj ET Q q 0 0 0 rg BT 492.65 245.10 Td (canal ) Tj ET Q q 0 0 0 rg BT 516.16 245.10 Td (tolls. ) Tj ET Q q 0 0 0 rg BT 538.12 245.10 Td (These ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 233.10 Td (costs ) Tj ET Q q 0 0 0 rg BT 72.28 233.10 Td (are ) Tj ET Q q 0 0 0 rg BT 86.76 233.10 Td (considered ) Tj ET Q q 0 0 0 rg BT 132.36 233.10 Td (contract ) Tj ET Q q 0 0 0 rg BT 166.84 233.10 Td (fulfillment ) Tj ET Q q 0 0 0 rg BT 211.88 233.10 Td (costs ) Tj ET Q q 0 0 0 rg BT 234.16 233.10 Td (because ) Tj ET Q q 0 0 0 rg BT 268.08 233.10 Td (the ) Tj ET Q q 0 0 0 rg BT 282.58 233.10 Td (costs ) Tj ET Q q 0 0 0 rg BT 304.86 233.10 Td (are ) Tj ET Q q 0 0 0 rg BT 319.34 233.10 Td (direct ) Tj ET Q q 0 0 0 rg BT 344.38 233.10 Td (costs ) Tj ET Q q 0 0 0 rg BT 366.66 233.10 Td (related ) Tj ET Q q 0 0 0 rg BT 396.14 233.10 Td (to ) Tj ET Q q 0 0 0 rg BT 406.20 233.10 Td (the ) Tj ET Q q 0 0 0 rg BT 420.69 233.10 Td (performance ) Tj ET Q q 0 0 0 rg BT 473.49 233.10 Td (of ) Tj ET Q q 0 0 0 rg BT 484.10 233.10 Td (the ) Tj ET Q q 0 0 0 rg BT 498.59 233.10 Td (contract ) Tj ET Q q 0 0 0 rg BT 533.07 233.10 Td (and ) Tj ET Q q 0 0 0 rg BT 549.79 233.10 Td (are ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 221.10 Td (expected ) Tj ET Q q 0 0 0 rg BT 88.19 221.10 Td (to ) Tj ET Q q 0 0 0 rg BT 98.63 221.10 Td (be ) Tj ET Q q 0 0 0 rg BT 110.72 221.10 Td (recovered. ) Tj ET Q q 0 0 0 rg BT 155.10 221.10 Td (The ) Tj ET Q q 0 0 0 rg BT 173.31 221.10 Td (costs ) Tj ET Q q 0 0 0 rg BT 195.96 221.10 Td (incurred ) Tj ET Q q 0 0 0 rg BT 231.94 221.10 Td (during ) Tj ET Q q 0 0 0 rg BT 260.70 221.10 Td (the ) Tj ET Q q 0 0 0 rg BT 275.58 221.10 Td (period ) Tj ET Q q 0 0 0 rg BT 303.78 221.10 Td (prior ) Tj ET Q q 0 0 0 rg BT 325.88 221.10 Td (to ) Tj ET Q q 0 0 0 rg BT 336.31 221.10 Td (commencement ) Tj ET Q q 0 0 0 rg BT 402.28 221.10 Td (of ) Tj ET Q q 0 0 0 rg BT 413.27 221.10 Td (loading ) Tj ET Q q 0 0 0 rg BT 445.92 221.10 Td (the ) Tj ET Q q 0 0 0 rg BT 460.79 221.10 Td (car) Tj ET Q q 0 0 0 rg BT 472.82 221.10 Td (go, ) Tj ET Q q 0 0 0 rg BT 487.98 221.10 Td (primarily ) Tj ET Q q 0 0 0 rg BT 527.85 221.10 Td (bunkers, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 209.10 Td (are ) Tj ET Q q 0 0 0 rg BT 64.76 209.10 Td (deferred ) Tj ET Q q 0 0 0 rg BT 100.62 209.10 Td (as ) Tj ET Q q 0 0 0 rg BT 111.50 209.10 Td (they ) Tj ET Q q 0 0 0 rg BT 131.26 209.10 Td (represent ) Tj ET Q q 0 0 0 rg BT 170.46 209.10 Td (setup ) Tj ET Q q 0 0 0 rg BT 194.12 209.10 Td (costs ) Tj ET Q q 0 0 0 rg BT 216.67 209.10 Td (and ) Tj ET Q q 0 0 0 rg BT 233.66 209.10 Td (recorded ) Tj ET Q q 0 0 0 rg BT 271.19 209.10 Td (as ) Tj ET Q q 0 0 0 rg BT 282.07 209.10 Td (a ) Tj ET Q q 0 0 0 rg BT 289.06 209.10 Td (current ) Tj ET Q q 0 0 0 rg BT 319.93 209.10 Td (asset ) Tj ET Q q 0 0 0 rg BT 341.92 209.10 Td (and ) Tj ET Q q 0 0 0 rg BT 358.91 209.10 Td (are ) Tj ET Q q 0 0 0 rg BT 373.66 209.10 Td (amortized ) Tj ET Q q 0 0 0 rg BT 416.20 209.10 Td (on ) Tj ET Q q 0 0 0 rg BT 428.75 209.10 Td (a ) Tj ET Q q 0 0 0 rg BT 435.74 209.10 Td (straight-line ) Tj ET Q q 0 0 0 rg BT 486.61 209.10 Td (basis ) Tj ET Q q 0 0 0 rg BT 509.16 209.10 Td (as ) Tj ET Q q 0 0 0 rg BT 520.04 209.10 Td (the ) Tj ET Q q 0 0 0 rg BT 534.81 209.10 Td (related ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 197.10 Td (performance ) Tj ET Q q 0 0 0 rg BT 103.02 197.10 Td (obligations ) Tj ET Q q 0 0 0 rg BT 149.97 197.10 Td (are ) Tj ET Q q 0 0 0 rg BT 164.67 197.10 Td (satisfied) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 89.00 171.90 Td (In ) Tj ET Q q 0 0 0 rg BT 99.60 171.90 Td (May ) Tj ET Q q 0 0 0 rg BT 120.20 171.90 Td (2014, ) Tj ET Q q 0 0 0 rg BT 144.98 171.90 Td (the ) Tj ET Q q 0 0 0 rg BT 159.46 171.90 Td (F) Tj ET Q q 0 0 0 rg BT 164.28 171.90 Td (ASB ) Tj ET Q q 0 0 0 rg BT 186.01 171.90 Td (issued ) Tj ET Q q 0 0 0 rg BT 212.78 171.90 Td (ASU2014-09, ) Tj ET Q q 0 0 0 rg BT 273.39 171.90 Td (which ) Tj ET Q q 0 0 0 rg BT 300.10 171.90 Td (supersedes ) Tj ET Q q 0 0 0 rg BT 345.69 171.90 Td (nearly ) Tj ET Q q 0 0 0 rg BT 372.95 171.90 Td (all ) Tj ET Q q 0 0 0 rg BT 385.21 171.90 Td (existing ) Tj ET Q q 0 0 0 rg BT 419.15 171.90 Td (revenue ) Tj ET Q q 0 0 0 rg BT 453.07 171.90 Td (recognition ) Tj ET Q q 0 0 0 rg BT 500.88 171.90 Td (guidance ) Tj ET Q q 0 0 0 rg BT 539.25 171.90 Td (under ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 159.90 Td (U.S. ) Tj ET Q q 0 0 0 rg BT 70.47 159.90 Td (GAAP) Tj ET Q q 0 0 0 rg BT 96.58 159.90 Td (. ) Tj ET Q q 0 0 0 rg BT 101.57 159.90 Td (The ) Tj ET Q q 0 0 0 rg BT 119.80 159.90 Td (core ) Tj ET Q q 0 0 0 rg BT 139.69 159.90 Td (principle ) Tj ET Q q 0 0 0 rg BT 177.92 159.90 Td (is ) Tj ET Q q 0 0 0 rg BT 187.27 159.90 Td (that ) Tj ET Q q 0 0 0 rg BT 204.95 159.90 Td (a ) Tj ET Q q 0 0 0 rg BT 212.07 159.90 Td (company ) Tj ET Q q 0 0 0 rg BT 251.41 159.90 Td (should ) Tj ET Q q 0 0 0 rg BT 280.76 159.90 Td (recognize ) Tj ET Q q 0 0 0 rg BT 322.31 159.90 Td (revenue ) Tj ET Q q 0 0 0 rg BT 356.64 159.90 Td (when ) Tj ET Q q 0 0 0 rg BT 380.98 159.90 Td (promised ) Tj ET Q q 0 0 0 rg BT 420.88 159.90 Td (goods ) Tj ET Q q 0 0 0 rg BT 447.46 159.90 Td (or ) Tj ET Q q 0 0 0 rg BT 458.47 159.90 Td (services ) Tj ET Q q 0 0 0 rg BT 493.36 159.90 Td (are ) Tj ET Q q 0 0 0 rg BT 508.25 159.90 Td (transferred ) Tj ET Q q 0 0 0 rg BT 554.24 159.90 Td (to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 147.90 Td (customers ) Tj ET Q q 0 0 0 rg BT 93.07 147.90 Td (in ) Tj ET Q q 0 0 0 rg BT 103.37 147.90 Td (an ) Tj ET Q q 0 0 0 rg BT 115.33 147.90 Td (amount ) Tj ET Q q 0 0 0 rg BT 147.85 147.90 Td (that ) Tj ET Q q 0 0 0 rg BT 165.36 147.90 Td (reflects ) Tj ET Q q 0 0 0 rg BT 197.31 147.90 Td (the ) Tj ET Q q 0 0 0 rg BT 212.05 147.90 Td (consideration ) Tj ET Q q 0 0 0 rg BT 268.44 147.90 Td (to ) Tj ET Q q 0 0 0 rg BT 278.74 147.90 Td (which ) Tj ET Q q 0 0 0 rg BT 305.70 147.90 Td (an ) Tj ET Q q 0 0 0 rg BT 317.66 147.90 Td (entity ) Tj ET Q q 0 0 0 rg BT 342.96 147.90 Td (expects ) Tj ET Q q 0 0 0 rg BT 375.47 147.90 Td (to ) Tj ET Q q 0 0 0 rg BT 385.77 147.90 Td (be ) Tj ET Q q 0 0 0 rg BT 397.73 147.90 Td (entitled ) Tj ET Q q 0 0 0 rg BT 430.24 147.90 Td (for ) Tj ET Q q 0 0 0 rg BT 444.42 147.90 Td (those ) Tj ET Q q 0 0 0 rg BT 468.05 147.90 Td (goods ) Tj ET Q q 0 0 0 rg BT 494.47 147.90 Td (or ) Tj ET Q q 0 0 0 rg BT 505.32 147.90 Td (services. ) Tj ET Q q 0 0 0 rg BT 541.99 147.90 Td (ASU ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 135.90 Td (2014-09 ) Tj ET Q q 0 0 0 rg BT 85.63 135.90 Td (defines ) Tj ET Q q 0 0 0 rg BT 116.81 135.90 Td (a ) Tj ET Q q 0 0 0 rg BT 123.55 135.90 Td (five-step ) Tj ET Q q 0 0 0 rg BT 160.84 135.90 Td (process ) Tj ET Q q 0 0 0 rg BT 193.13 135.90 Td (to ) Tj ET Q q 0 0 0 rg BT 203.21 135.90 Td (achieve ) Tj ET Q q 0 0 0 rg BT 236.05 135.90 Td (this ) Tj ET Q q 0 0 0 rg BT 252.80 135.90 Td (core ) Tj ET Q q 0 0 0 rg BT 272.31 135.90 Td (principle ) Tj ET Q q 0 0 0 rg BT 310.15 135.90 Td (and, ) Tj ET Q q 0 0 0 rg BT 329.39 135.90 Td (in ) Tj ET Q q 0 0 0 rg BT 339.47 135.90 Td (doing ) Tj ET Q q 0 0 0 rg BT 364.55 135.90 Td (so, ) Tj ET Q q 0 0 0 rg BT 378.25 135.90 Td (more ) Tj ET Q q 0 0 0 rg BT 401.10 135.90 Td (judgment ) Tj ET Q q 0 0 0 rg BT 441.17 135.90 Td (and ) Tj ET Q q 0 0 0 rg BT 457.91 135.90 Td (estimates ) Tj ET Q q 0 0 0 rg BT 497.43 135.90 Td (may ) Tj ET Q q 0 0 0 rg BT 516.95 135.90 Td (be ) Tj ET Q q 0 0 0 rg BT 528.69 135.90 Td (required ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 123.90 Td (within ) Tj ET Q q 0 0 0 rg BT 78.83 123.90 Td (the ) Tj ET Q q 0 0 0 rg BT 94.33 123.90 Td (revenue ) Tj ET Q q 0 0 0 rg BT 129.25 123.90 Td (recognition ) Tj ET Q q 0 0 0 rg BT 178.07 123.90 Td (process ) Tj ET Q q 0 0 0 rg BT 211.34 123.90 Td (than ) Tj ET Q q 0 0 0 rg BT 231.83 123.90 Td (are ) Tj ET Q q 0 0 0 rg BT 247.32 123.90 Td (required ) Tj ET Q q 0 0 0 rg BT 283.91 123.90 Td (under ) Tj ET Q q 0 0 0 rg BT 309.96 123.90 Td (existing ) Tj ET Q q 0 0 0 rg BT 344.90 123.90 Td (U.S. ) Tj ET Q q 0 0 0 rg BT 365.96 123.90 Td (GAAP) Tj ET Q q 0 0 0 rg BT 392.08 123.90 Td (. ) Tj ET Q q 0 0 0 rg BT 397.86 123.90 Td (Under ) Tj ET Q q 0 0 0 rg BT 425.40 123.90 Td (ASC ) Tj ET Q q 0 0 0 rg BT 448.13 123.90 Td (606, ) Tj ET Q q 0 0 0 rg BT 468.91 123.90 Td (an ) Tj ET Q q 0 0 0 rg BT 481.63 123.90 Td (entity ) Tj ET Q q 0 0 0 rg BT 507.68 123.90 Td (is ) Tj ET Q q 0 0 0 rg BT 517.63 123.90 Td (required ) Tj ET Q q 0 0 0 rg BT 554.22 123.90 Td (to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 111.90 Td (perform ) Tj ET Q q 0 0 0 rg BT 85.57 111.90 Td (the ) Tj ET Q q 0 0 0 rg BT 101.15 111.90 Td (following ) Tj ET Q q 0 0 0 rg BT 143.39 111.90 Td (five ) Tj ET Q q 0 0 0 rg BT 162.30 111.90 Td (steps: ) Tj ET Q q 0 0 0 rg BT 188.44 111.90 Td (\(1\) ) Tj ET Q q 0 0 0 rg BT 203.46 111.90 Td (identify ) Tj ET Q q 0 0 0 rg BT 237.93 111.90 Td (the ) Tj ET Q q 0 0 0 rg BT 253.50 111.90 Td (contract\(s\) ) Tj ET Q q 0 0 0 rg BT 299.62 111.90 Td (with ) Tj ET Q q 0 0 0 rg BT 320.76 111.90 Td (a ) Tj ET Q q 0 0 0 rg BT 328.56 111.90 Td (customer; ) Tj ET Q q 0 0 0 rg BT 371.35 111.90 Td (\(2\) ) Tj ET Q q 0 0 0 rg BT 386.37 111.90 Td (identify ) Tj ET Q q 0 0 0 rg BT 420.84 111.90 Td (the ) Tj ET Q q 0 0 0 rg BT 436.41 111.90 Td (performance ) Tj ET Q q 0 0 0 rg BT 490.30 111.90 Td (obligations ) Tj ET Q q 0 0 0 rg BT 538.10 111.90 Td (of ) Tj ET Q q 0 0 0 rg BT 549.79 111.90 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 99.90 Td (contract; ) Tj ET Q q 0 0 0 rg BT 87.39 99.90 Td (\(3\) ) Tj ET Q q 0 0 0 rg BT 101.46 99.90 Td (determine ) Tj ET Q q 0 0 0 rg BT 143.84 99.90 Td (the ) Tj ET Q q 0 0 0 rg BT 158.47 99.90 Td (transaction ) Tj ET Q q 0 0 0 rg BT 204.75 99.90 Td (price; ) Tj ET Q q 0 0 0 rg BT 229.92 99.90 Td (\(4\) ) Tj ET Q q 0 0 0 rg BT 243.98 99.90 Td (allocate ) Tj ET Q q 0 0 0 rg BT 277.48 99.90 Td (the ) Tj ET Q q 0 0 0 rg BT 292.10 99.90 Td (transaction ) Tj ET Q q 0 0 0 rg BT 338.38 99.90 Td (price ) Tj ET Q q 0 0 0 rg BT 360.78 99.90 Td (to ) Tj ET Q q 0 0 0 rg BT 370.96 99.90 Td (the ) Tj ET Q q 0 0 0 rg BT 385.59 99.90 Td (performance ) Tj ET Q q 0 0 0 rg BT 438.52 99.90 Td (obligations ) Tj ET Q q 0 0 0 rg BT 485.37 99.90 Td (in ) Tj ET Q q 0 0 0 rg BT 495.55 99.90 Td (the ) Tj ET Q q 0 0 0 rg BT 510.18 99.90 Td (contract; ) Tj ET Q q 0 0 0 rg BT 547.56 99.90 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 87.90 Td (\(5\) ) Tj ET Q q 0 0 0 rg BT 64.66 87.90 Td (recognize ) Tj ET Q q 0 0 0 rg BT 106.52 87.90 Td (revenue ) Tj ET Q q 0 0 0 rg BT 141.16 87.90 Td (when ) Tj ET Q q 0 0 0 rg BT 165.82 87.90 Td (\(or ) Tj ET Q q 0 0 0 rg BT 180.47 87.90 Td (as\) ) Tj ET Q q 0 0 0 rg BT 195.13 87.90 Td (the ) Tj ET Q q 0 0 0 rg BT 210.34 87.90 Td (entity ) Tj ET Q q 0 0 0 rg BT 236.12 87.90 Td (satisfied ) Tj ET Q q 0 0 0 rg BT 272.44 87.90 Td (a ) Tj ET Q q 0 0 0 rg BT 279.87 87.90 Td (performance ) Tj ET Q q 0 0 0 rg BT 333.39 87.90 Td (obligation. ) Tj ET Q q 0 0 0 rg BT 378.78 87.90 Td (Additionally) Tj ET Q q 0 0 0 rg BT 428.68 87.90 Td (, ) Tj ET Q q 0 0 0 rg BT 434.18 87.90 Td (the ) Tj ET Q q 0 0 0 rg BT 449.39 87.90 Td (guidance ) Tj ET Q q 0 0 0 rg BT 488.48 87.90 Td (requires ) Tj ET Q q 0 0 0 rg BT 523.69 87.90 Td (improved ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 75.90 Td (disclosures ) Tj ET Q q 0 0 0 rg BT 96.94 75.90 Td (as ) Tj ET Q q 0 0 0 rg BT 107.77 75.90 Td (to ) Tj ET Q q 0 0 0 rg BT 118.05 75.90 Td (the ) Tj ET Q q 0 0 0 rg BT 132.76 75.90 Td (nature, ) Tj ET Q q 0 0 0 rg BT 162.75 75.90 Td (amount, ) Tj ET Q q 0 0 0 rg BT 197.74 75.90 Td (timing ) Tj ET Q q 0 0 0 rg BT 226.36 75.90 Td (and ) Tj ET Q q 0 0 0 rg BT 243.30 75.90 Td (uncertainty ) Tj ET Q q 0 0 0 rg BT 290.78 75.90 Td (of ) Tj ET Q q 0 0 0 rg BT 301.61 75.90 Td (revenue ) Tj ET Q q 0 0 0 rg BT 335.75 75.90 Td (that ) Tj ET Q q 0 0 0 rg BT 353.25 75.90 Td (is ) Tj ET Q q 0 0 0 rg BT 362.42 75.90 Td (recognized.) Tj ET Q endstream endobj 19 0 obj <> endobj 20 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 19.60 Td ( ) Tj ET Q q 0 0 0 rg BT 86.00 19.60 Td ( ) Tj ET Q q 0 0 0 rg BT 122.00 19.60 Td ( ) Tj ET Q q 0 0 0 rg BT 158.00 19.60 Td ( ) Tj ET Q q 0 0 0 rg BT 194.00 19.60 Td ( ) Tj ET Q q 0 0 0 rg BT 230.00 19.60 Td ( ) Tj ET Q q 0 0 0 rg BT 266.00 19.60 Td ( ) Tj ET Q q 0 0 0 rg BT 302.00 19.60 Td (F-7) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 89.00 742.10 Td (W) Tj ET Q q 0 0 0 rg BT 97.64 742.10 Td (e ) Tj ET Q q 0 0 0 rg BT 105.38 742.10 Td (adopted ) Tj ET Q q 0 0 0 rg BT 140.35 742.10 Td (the ) Tj ET Q q 0 0 0 rg BT 155.87 742.10 Td (provisions ) Tj ET Q q 0 0 0 rg BT 200.85 742.10 Td (of ) Tj ET Q q 0 0 0 rg BT 211.75 742.10 Td (ASC ) Tj ET Q q 0 0 0 rg BT 234.51 742.10 Td (606 ) Tj ET Q q 0 0 0 rg BT 252.82 742.10 Td (on ) Tj ET Q q 0 0 0 rg BT 266.13 742.10 Td (January ) Tj ET Q q 0 0 0 rg BT 300.53 742.10 Td (1, ) Tj ET Q q 0 0 0 rg BT 311.34 742.10 Td (2018 ) Tj ET Q q 0 0 0 rg BT 334.65 742.10 Td (using ) Tj ET Q q 0 0 0 rg BT 359.63 742.10 Td (the ) Tj ET Q q 0 0 0 rg BT 375.15 742.10 Td (modified ) Tj ET Q q 0 0 0 rg BT 414.56 742.10 Td (retrospective ) Tj ET Q q 0 0 0 rg BT 469.51 742.10 Td (approach. ) Tj ET Q q 0 0 0 rg BT 511.23 742.10 Td (As ) Tj ET Q q 0 0 0 rg BT 525.65 742.10 Td (such, ) Tj ET Q q 0 0 0 rg BT 549.79 742.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 730.10 Td (comparative ) Tj ET Q q 0 0 0 rg BT 102.08 730.10 Td (information ) Tj ET Q q 0 0 0 rg BT 151.96 730.10 Td (has ) Tj ET Q q 0 0 0 rg BT 167.95 730.10 Td (not ) Tj ET Q q 0 0 0 rg BT 183.39 730.10 Td (been ) Tj ET Q q 0 0 0 rg BT 204.93 730.10 Td (restated ) Tj ET Q q 0 0 0 rg BT 238.69 730.10 Td (and ) Tj ET Q q 0 0 0 rg BT 255.79 730.10 Td (continues ) Tj ET Q q 0 0 0 rg BT 296.77 730.10 Td (to ) Tj ET Q q 0 0 0 rg BT 307.22 730.10 Td (be ) Tj ET Q q 0 0 0 rg BT 319.32 730.10 Td (reported ) Tj ET Q q 0 0 0 rg BT 355.29 730.10 Td (under ) Tj ET Q q 0 0 0 rg BT 380.73 730.10 Td (the ) Tj ET Q q 0 0 0 rg BT 395.60 730.10 Td (accounting ) Tj ET Q q 0 0 0 rg BT 442.14 730.10 Td (standards ) Tj ET Q q 0 0 0 rg BT 482.57 730.10 Td (in ) Tj ET Q q 0 0 0 rg BT 493.01 730.10 Td (ef) Tj ET Q q 0 0 0 rg BT 500.60 730.10 Td (fect ) Tj ET Q q 0 0 0 rg BT 518.25 730.10 Td (for ) Tj ET Q q 0 0 0 rg BT 532.57 730.10 Td (periods ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 718.10 Td (prior ) Tj ET Q q 0 0 0 rg BT 71.91 718.10 Td (to ) Tj ET Q q 0 0 0 rg BT 82.17 718.10 Td (January ) Tj ET Q q 0 0 0 rg BT 115.74 718.10 Td (1, ) Tj ET Q q 0 0 0 rg BT 125.72 718.10 Td (2018. ) Tj ET Q q 0 0 0 rg BT 150.69 718.10 Td (Under ) Tj ET Q q 0 0 0 rg BT 178.16 718.10 Td (the ) Tj ET Q q 0 0 0 rg BT 192.85 718.10 Td (modified ) Tj ET Q q 0 0 0 rg BT 231.43 718.10 Td (retrospective ) Tj ET Q q 0 0 0 rg BT 285.55 718.10 Td (approach, ) Tj ET Q q 0 0 0 rg BT 327.17 718.10 Td (the ) Tj ET Q q 0 0 0 rg BT 341.86 718.10 Td (Company ) Tj ET Q q 0 0 0 rg BT 383.22 718.10 Td (recognized ) Tj ET Q q 0 0 0 rg BT 429.56 718.10 Td (the ) Tj ET Q q 0 0 0 rg BT 444.25 718.10 Td (cumulative ) Tj ET Q q 0 0 0 rg BT 491.16 718.10 Td (ef) Tj ET Q q 0 0 0 rg BT 498.75 718.10 Td (fect ) Tj ET Q q 0 0 0 rg BT 516.21 718.10 Td (of ) Tj ET Q q 0 0 0 rg BT 527.01 718.10 Td (adopting ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 706.10 Td (this ) Tj ET Q q 0 0 0 rg BT 66.72 706.10 Td (standard ) Tj ET Q q 0 0 0 rg BT 102.87 706.10 Td (as ) Tj ET Q q 0 0 0 rg BT 113.47 706.10 Td (an ) Tj ET Q q 0 0 0 rg BT 125.18 706.10 Td (adjustment ) Tj ET Q q 0 0 0 rg BT 171.34 706.10 Td (amounting ) Tj ET Q q 0 0 0 rg BT 216.38 706.10 Td (to ) Tj ET Q q 0 0 0 rg BT 226.43 706.10 Td ($0.6 ) Tj ET Q q 0 0 0 rg BT 246.20 706.10 Td (million ) Tj ET Q q 0 0 0 rg BT 277.37 706.10 Td (to ) Tj ET Q q 0 0 0 rg BT 287.42 706.10 Td (increase ) Tj ET Q q 0 0 0 rg BT 322.44 706.10 Td (the ) Tj ET Q q 0 0 0 rg BT 336.93 706.10 Td (opening ) Tj ET Q q 0 0 0 rg BT 371.42 706.10 Td (balance ) Tj ET Q q 0 0 0 rg BT 404.22 706.10 Td (of ) Tj ET Q q 0 0 0 rg BT 414.33 706.10 Td (Accumulated ) Tj ET Q q 0 0 0 rg BT 469.91 706.10 Td (Deficit ) Tj ET Q q 0 0 0 rg BT 499.94 706.10 Td (as ) Tj ET Q q 0 0 0 rg BT 510.55 706.10 Td (of ) Tj ET Q q 0 0 0 rg BT 521.15 706.10 Td (January ) Tj ET Q q 0 0 0 rg BT 554.52 706.10 Td (1, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 694.10 Td (2018. ) Tj ET Q q 0 0 0 rg BT 74.71 694.10 Td (The ) Tj ET Q q 0 0 0 rg BT 92.64 694.10 Td (Company ) Tj ET Q q 0 0 0 rg BT 133.91 694.10 Td (recognized ) Tj ET Q q 0 0 0 rg BT 180.15 694.10 Td ($0.3 ) Tj ET Q q 0 0 0 rg BT 200.04 694.10 Td (million ) Tj ET Q q 0 0 0 rg BT 231.31 694.10 Td (of ) Tj ET Q q 0 0 0 rg BT 242.02 694.10 Td (deferred ) Tj ET Q q 0 0 0 rg BT 277.71 694.10 Td (costs ) Tj ET Q q 0 0 0 rg BT 300.10 694.10 Td (which ) Tj ET Q q 0 0 0 rg BT 326.92 694.10 Td (represents ) Tj ET Q q 0 0 0 rg BT 369.84 694.10 Td (the ) Tj ET Q q 0 0 0 rg BT 384.44 694.10 Td (costs ) Tj ET Q q 0 0 0 rg BT 406.82 694.10 Td (such ) Tj ET Q q 0 0 0 rg BT 427.53 694.10 Td (as ) Tj ET Q q 0 0 0 rg BT 438.25 694.10 Td (bunker ) Tj ET Q q 0 0 0 rg BT 468.40 694.10 Td (expenses ) Tj ET Q q 0 0 0 rg BT 506.88 694.10 Td (incurred ) Tj ET Q q 0 0 0 rg BT 542.58 694.10 Td (prior ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 682.10 Td (to ) Tj ET Q q 0 0 0 rg BT 59.34 682.10 Td (commencement ) Tj ET Q q 0 0 0 rg BT 124.21 682.10 Td (of ) Tj ET Q q 0 0 0 rg BT 134.11 682.10 Td (loading ) Tj ET Q q 0 0 0 rg BT 165.67 682.10 Td (are ) Tj ET Q q 0 0 0 rg BT 179.44 682.10 Td (recorded ) Tj ET Q q 0 0 0 rg BT 215.98 682.10 Td (in ) Tj ET Q q 0 0 0 rg BT 225.32 682.10 Td (other ) Tj ET Q q 0 0 0 rg BT 247.43 682.10 Td (current ) Tj ET Q q 0 0 0 rg BT 277.31 682.10 Td (assets ) Tj ET Q q 0 0 0 rg BT 302.20 682.10 Td (and ) Tj ET Q q 0 0 0 rg BT 318.20 682.10 Td ($0.9 ) Tj ET Q q 0 0 0 rg BT 337.27 682.10 Td (million ) Tj ET Q q 0 0 0 rg BT 367.72 682.10 Td (of ) Tj ET Q q 0 0 0 rg BT 377.62 682.10 Td (unearned ) Tj ET Q q 0 0 0 rg BT 415.83 682.10 Td (charter ) Tj ET Q q 0 0 0 rg BT 445.15 682.10 Td (hire ) Tj ET Q q 0 0 0 rg BT 462.26 682.10 Td (revenue ) Tj ET Q q 0 0 0 rg BT 495.47 682.10 Td (which ) Tj ET Q q 0 0 0 rg BT 521.47 682.10 Td (represents ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 670.10 Td (the ) Tj ET Q q 0 0 0 rg BT 64.11 670.10 Td (Company's ) Tj ET Q q 0 0 0 rg BT 110.59 670.10 Td (obligation ) Tj ET Q q 0 0 0 rg BT 153.04 670.10 Td (to ) Tj ET Q q 0 0 0 rg BT 162.71 670.10 Td (satisfy ) Tj ET Q q 0 0 0 rg BT 190.72 670.10 Td (performance ) Tj ET Q q 0 0 0 rg BT 243.14 670.10 Td (obligations ) Tj ET Q q 0 0 0 rg BT 289.48 670.10 Td (under ) Tj ET Q q 0 0 0 rg BT 314.15 670.10 Td (the ) Tj ET Q q 0 0 0 rg BT 328.26 670.10 Td (contract ) Tj ET Q q 0 0 0 rg BT 362.36 670.10 Td (for ) Tj ET Q q 0 0 0 rg BT 375.92 670.10 Td (which ) Tj ET Q q 0 0 0 rg BT 402.25 670.10 Td (the ) Tj ET Q q 0 0 0 rg BT 416.36 670.10 Td (Company ) Tj ET Q q 0 0 0 rg BT 457.15 670.10 Td (has ) Tj ET Q q 0 0 0 rg BT 472.38 670.10 Td (received ) Tj ET Q q 0 0 0 rg BT 508.13 670.10 Td (consideration ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 658.10 Td (from ) Tj ET Q q 0 0 0 rg BT 71.94 658.10 Td (the ) Tj ET Q q 0 0 0 rg BT 86.66 658.10 Td (customer) Tj ET Q q 0 0 0 rg BT 122.76 658.10 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 89.00 632.90 Td (The ) Tj ET Q q 0 0 0 rg BT 107.57 632.90 Td (adoption ) Tj ET Q q 0 0 0 rg BT 145.58 632.90 Td (of ) Tj ET Q q 0 0 0 rg BT 156.93 632.90 Td (the ) Tj ET Q q 0 0 0 rg BT 171.50 632.90 Td (ASC ) Tj ET Q q 0 0 0 rg BT 193.98 632.90 Td (606 ) Tj ET Q q 0 0 0 rg BT 212.00 632.90 Td (impacted ) Tj ET Q q 0 0 0 rg BT 251.67 632.90 Td (the ) Tj ET Q q 0 0 0 rg BT 266.90 632.90 Td (timing ) Tj ET Q q 0 0 0 rg BT 296.04 632.90 Td (of ) Tj ET Q q 0 0 0 rg BT 307.39 632.90 Td (recognition ) Tj ET Q q 0 0 0 rg BT 355.95 632.90 Td (of ) Tj ET Q q 0 0 0 rg BT 367.30 632.90 Td (revenue ) Tj ET Q q 0 0 0 rg BT 401.96 632.90 Td (for ) Tj ET Q q 0 0 0 rg BT 416.64 632.90 Td (certain ) Tj ET Q q 0 0 0 rg BT 446.87 632.90 Td (ongoing ) Tj ET Q q 0 0 0 rg BT 482.66 632.90 Td (spot ) Tj ET Q q 0 0 0 rg BT 502.35 632.90 Td (voyage ) Tj ET Q q 0 0 0 rg BT 534.25 632.90 Td (charter ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 620.90 Td (contracts, ) Tj ET Q q 0 0 0 rg BT 91.22 620.90 Td (related ) Tj ET Q q 0 0 0 rg BT 121.06 620.90 Td (voyage ) Tj ET Q q 0 0 0 rg BT 152.57 620.90 Td (expenses ) Tj ET Q q 0 0 0 rg BT 191.29 620.90 Td (and ) Tj ET Q q 0 0 0 rg BT 208.36 620.90 Td (charter ) Tj ET Q q 0 0 0 rg BT 238.75 620.90 Td (hire ) Tj ET Q q 0 0 0 rg BT 256.93 620.90 Td (expenses. ) Tj ET Q q 0 0 0 rg BT 298.16 620.90 Td (Under ) Tj ET Q q 0 0 0 rg BT 325.20 620.90 Td (ASU ) Tj ET Q q 0 0 0 rg BT 347.83 620.90 Td (2014-09, ) Tj ET Q q 0 0 0 rg BT 386.29 620.90 Td (revenue ) Tj ET Q q 0 0 0 rg BT 420.57 620.90 Td (is ) Tj ET Q q 0 0 0 rg BT 429.87 620.90 Td (recognized ) Tj ET Q q 0 0 0 rg BT 476.36 620.90 Td (from ) Tj ET Q q 0 0 0 rg BT 498.43 620.90 Td (when ) Tj ET Q q 0 0 0 rg BT 522.72 620.90 Td (the ) Tj ET Q q 0 0 0 rg BT 537.57 620.90 Td (vessel ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 608.90 Td (commences ) Tj ET Q q 0 0 0 rg BT 99.62 608.90 Td (loading ) Tj ET Q q 0 0 0 rg BT 132.03 608.90 Td (through ) Tj ET Q q 0 0 0 rg BT 165.55 608.90 Td (the ) Tj ET Q q 0 0 0 rg BT 180.19 608.90 Td (completion ) Tj ET Q q 0 0 0 rg BT 227.59 608.90 Td (of ) Tj ET Q q 0 0 0 rg BT 238.34 608.90 Td (dischar) Tj ET Q q 0 0 0 rg BT 267.04 608.90 Td (ge ) Tj ET Q q 0 0 0 rg BT 278.89 608.90 Td (at ) Tj ET Q q 0 0 0 rg BT 288.52 608.90 Td (the ) Tj ET Q q 0 0 0 rg BT 303.16 608.90 Td (dischar) Tj ET Q q 0 0 0 rg BT 331.85 608.90 Td (ge ) Tj ET Q q 0 0 0 rg BT 343.71 608.90 Td (port ) Tj ET Q q 0 0 0 rg BT 362.23 608.90 Td (instead ) Tj ET Q q 0 0 0 rg BT 392.97 608.90 Td (of ) Tj ET Q q 0 0 0 rg BT 403.72 608.90 Td (recognizing ) Tj ET Q q 0 0 0 rg BT 453.34 608.90 Td (revenue ) Tj ET Q q 0 0 0 rg BT 487.40 608.90 Td (from ) Tj ET Q q 0 0 0 rg BT 509.25 608.90 Td (the ) Tj ET Q q 0 0 0 rg BT 523.88 608.90 Td (dischar) Tj ET Q q 0 0 0 rg BT 552.58 608.90 Td (ge ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 596.90 Td (of ) Tj ET Q q 0 0 0 rg BT 61.25 596.90 Td (the ) Tj ET Q q 0 0 0 rg BT 76.38 596.90 Td (previous ) Tj ET Q q 0 0 0 rg BT 113.73 596.90 Td (voyage ) Tj ET Q q 0 0 0 rg BT 145.53 596.90 Td (provided ) Tj ET Q q 0 0 0 rg BT 183.99 596.90 Td (an ) Tj ET Q q 0 0 0 rg BT 196.35 596.90 Td (agreed ) Tj ET Q q 0 0 0 rg BT 225.91 596.90 Td (non-cancellable ) Tj ET Q q 0 0 0 rg BT 292.12 596.90 Td (charter ) Tj ET Q q 0 0 0 rg BT 322.79 596.90 Td (between ) Tj ET Q q 0 0 0 rg BT 359.02 596.90 Td (the ) Tj ET Q q 0 0 0 rg BT 374.16 596.90 Td (Company ) Tj ET Q q 0 0 0 rg BT 415.96 596.90 Td (and ) Tj ET Q q 0 0 0 rg BT 433.31 596.90 Td (the ) Tj ET Q q 0 0 0 rg BT 448.45 596.90 Td (charterer ) Tj ET Q q 0 0 0 rg BT 486.89 596.90 Td (is ) Tj ET Q q 0 0 0 rg BT 496.47 596.90 Td (in ) Tj ET Q q 0 0 0 rg BT 507.17 596.90 Td (existence, ) Tj ET Q q 0 0 0 rg BT 549.79 596.90 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 584.90 Td (charter ) Tj ET Q q 0 0 0 rg BT 80.37 584.90 Td (rate ) Tj ET Q q 0 0 0 rg BT 97.97 584.90 Td (is ) Tj ET Q q 0 0 0 rg BT 107.25 584.90 Td (fixed ) Tj ET Q q 0 0 0 rg BT 130.41 584.90 Td (and ) Tj ET Q q 0 0 0 rg BT 147.46 584.90 Td (determinable, ) Tj ET Q q 0 0 0 rg BT 204.77 584.90 Td (and ) Tj ET Q q 0 0 0 rg BT 221.83 584.90 Td (collectability ) Tj ET Q q 0 0 0 rg BT 276.64 584.90 Td (is ) Tj ET Q q 0 0 0 rg BT 285.93 584.90 Td (reasonably ) Tj ET Q q 0 0 0 rg BT 331.86 584.90 Td (assured. ) Tj ET Q q 0 0 0 rg BT 366.38 584.90 Td (Any ) Tj ET Q q 0 0 0 rg BT 386.22 584.90 Td (expenses ) Tj ET Q q 0 0 0 rg BT 424.93 584.90 Td (incurred ) Tj ET Q q 0 0 0 rg BT 460.86 584.90 Td (during ) Tj ET Q q 0 0 0 rg BT 489.58 584.90 Td (the ) Tj ET Q q 0 0 0 rg BT 504.41 584.90 Td (ballast ) Tj ET Q q 0 0 0 rg BT 533.13 584.90 Td (portion ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 572.90 Td (of ) Tj ET Q q 0 0 0 rg BT 61.16 572.90 Td (the ) Tj ET Q q 0 0 0 rg BT 76.21 572.90 Td (voyage ) Tj ET Q q 0 0 0 rg BT 107.92 572.90 Td (\(time ) Tj ET Q q 0 0 0 rg BT 131.86 572.90 Td (spent ) Tj ET Q q 0 0 0 rg BT 155.80 572.90 Td (by ) Tj ET Q q 0 0 0 rg BT 168.64 572.90 Td (the ) Tj ET Q q 0 0 0 rg BT 183.69 572.90 Td (vessel ) Tj ET Q q 0 0 0 rg BT 210.96 572.90 Td (traveling ) Tj ET Q q 0 0 0 rg BT 249.33 572.90 Td (from ) Tj ET Q q 0 0 0 rg BT 271.61 572.90 Td (dischar) Tj ET Q q 0 0 0 rg BT 300.30 572.90 Td (ge ) Tj ET Q q 0 0 0 rg BT 312.57 572.90 Td (port ) Tj ET Q q 0 0 0 rg BT 331.52 572.90 Td (of ) Tj ET Q q 0 0 0 rg BT 342.68 572.90 Td (the ) Tj ET Q q 0 0 0 rg BT 357.73 572.90 Td (previous ) Tj ET Q q 0 0 0 rg BT 395.00 572.90 Td (voyage ) Tj ET Q q 0 0 0 rg BT 426.71 572.90 Td (to ) Tj ET Q q 0 0 0 rg BT 437.32 572.90 Td (the ) Tj ET Q q 0 0 0 rg BT 452.38 572.90 Td (load ) Tj ET Q q 0 0 0 rg BT 472.43 572.90 Td (port ) Tj ET Q q 0 0 0 rg BT 491.37 572.90 Td (of ) Tj ET Q q 0 0 0 rg BT 502.53 572.90 Td (the ) Tj ET Q q 0 0 0 rg BT 517.58 572.90 Td (subsequent ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 560.90 Td (voyage\) ) Tj ET Q q 0 0 0 rg BT 84.60 560.90 Td (such ) Tj ET Q q 0 0 0 rg BT 105.32 560.90 Td (as ) Tj ET Q q 0 0 0 rg BT 116.03 560.90 Td (bunker ) Tj ET Q q 0 0 0 rg BT 146.19 560.90 Td (expenses ) Tj ET Q q 0 0 0 rg BT 184.68 560.90 Td (are ) Tj ET Q q 0 0 0 rg BT 199.28 560.90 Td (deferred ) Tj ET Q q 0 0 0 rg BT 234.97 560.90 Td (and ) Tj ET Q q 0 0 0 rg BT 251.80 560.90 Td (are ) Tj ET Q q 0 0 0 rg BT 266.40 560.90 Td (recognized ) Tj ET Q q 0 0 0 rg BT 312.65 560.90 Td (on ) Tj ET Q q 0 0 0 rg BT 325.04 560.90 Td (a ) Tj ET Q q 0 0 0 rg BT 331.86 560.90 Td (straight-line ) Tj ET Q q 0 0 0 rg BT 382.57 560.90 Td (basis ) Tj ET Q q 0 0 0 rg BT 404.96 560.90 Td (over ) Tj ET Q q 0 0 0 rg BT 425.12 560.90 Td (the ) Tj ET Q q 0 0 0 rg BT 439.73 560.90 Td (charter ) Tj ET Q q 0 0 0 rg BT 469.87 560.90 Td (period ) Tj ET Q q 0 0 0 rg BT 497.80 560.90 Td (as ) Tj ET Q q 0 0 0 rg BT 508.52 560.90 Td (the ) Tj ET Q q 0 0 0 rg BT 523.13 560.90 Td (Company ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 548.90 Td (satisfies ) Tj ET Q q 0 0 0 rg BT 84.72 548.90 Td (the ) Tj ET Q q 0 0 0 rg BT 99.43 548.90 Td (performance ) Tj ET Q q 0 0 0 rg BT 152.46 548.90 Td (obligations ) Tj ET Q q 0 0 0 rg BT 199.40 548.90 Td (under ) Tj ET Q q 0 0 0 rg BT 224.67 548.90 Td (the ) Tj ET Q q 0 0 0 rg BT 239.38 548.90 Td (contract.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 89.00 523.70 Td (Further) Tj ET Q q 0 0 0 rg BT 118.04 523.70 Td (, ) Tj ET Q q 0 0 0 rg BT 122.01 523.70 Td (the ) Tj ET Q q 0 0 0 rg BT 135.70 523.70 Td (adoption ) Tj ET Q q 0 0 0 rg BT 172.17 523.70 Td (of ) Tj ET Q q 0 0 0 rg BT 181.65 523.70 Td (ASC ) Tj ET Q q 0 0 0 rg BT 202.58 523.70 Td (606 ) Tj ET Q q 0 0 0 rg BT 219.06 523.70 Td (impacted ) Tj ET Q q 0 0 0 rg BT 257.18 523.70 Td (the ) Tj ET Q q 0 0 0 rg BT 270.87 523.70 Td (accounts ) Tj ET Q q 0 0 0 rg BT 307.33 523.70 Td (receivable ) Tj ET Q q 0 0 0 rg BT 349.89 523.70 Td (and ) Tj ET Q q 0 0 0 rg BT 365.80 523.70 Td (unearned ) Tj ET Q q 0 0 0 rg BT 403.92 523.70 Td (revenue ) Tj ET Q q 0 0 0 rg BT 437.04 523.70 Td (on ) Tj ET Q q 0 0 0 rg BT 448.51 523.70 Td (our ) Tj ET Q q 0 0 0 rg BT 463.32 523.70 Td (Condensed ) Tj ET Q q 0 0 0 rg BT 509.23 523.70 Td (Consolidated ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 511.70 Td (Balance ) Tj ET Q q 0 0 0 rg BT 84.80 511.70 Td (Sheet ) Tj ET Q q 0 0 0 rg BT 109.62 511.70 Td (as ) Tj ET Q q 0 0 0 rg BT 120.56 511.70 Td (of ) Tj ET Q q 0 0 0 rg BT 131.49 511.70 Td (September ) Tj ET Q q 0 0 0 rg BT 176.86 511.70 Td (30, ) Tj ET Q q 0 0 0 rg BT 191.96 511.70 Td (2018. ) Tj ET Q q 0 0 0 rg BT 217.06 511.70 Td (Under ) Tj ET Q q 0 0 0 rg BT 244.08 511.70 Td (ASC ) Tj ET Q q 0 0 0 rg BT 266.13 511.70 Td (606, ) Tj ET Q q 0 0 0 rg BT 286.24 511.70 Td (receivables ) Tj ET Q q 0 0 0 rg BT 333.81 511.70 Td (represent ) Tj ET Q q 0 0 0 rg BT 373.06 511.70 Td (an ) Tj ET Q q 0 0 0 rg BT 385.10 511.70 Td (entity's ) Tj ET Q q 0 0 0 rg BT 416.17 511.70 Td (unconditional ) Tj ET Q q 0 0 0 rg BT 473.76 511.70 Td (right ) Tj ET Q q 0 0 0 rg BT 495.25 511.70 Td (to ) Tj ET Q q 0 0 0 rg BT 505.63 511.70 Td (consideration, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 499.70 Td (billed ) Tj ET Q q 0 0 0 rg BT 74.37 499.70 Td (or ) Tj ET Q q 0 0 0 rg BT 84.30 499.70 Td (unbilled. ) Tj ET Q q 0 0 0 rg BT 121.06 499.70 Td (The ) Tj ET Q q 0 0 0 rg BT 138.20 499.70 Td (Company ) Tj ET Q q 0 0 0 rg BT 178.69 499.70 Td (determined ) Tj ET Q q 0 0 0 rg BT 225.27 499.70 Td (that ) Tj ET Q q 0 0 0 rg BT 241.86 499.70 Td (the ) Tj ET Q q 0 0 0 rg BT 255.68 499.70 Td (performance ) Tj ET Q q 0 0 0 rg BT 307.80 499.70 Td (obligations ) Tj ET Q q 0 0 0 rg BT 353.84 499.70 Td (on ) Tj ET Q q 0 0 0 rg BT 365.44 499.70 Td (its ) Tj ET Q q 0 0 0 rg BT 376.49 499.70 Td (spot ) Tj ET Q q 0 0 0 rg BT 394.76 499.70 Td (voyage ) Tj ET Q q 0 0 0 rg BT 425.24 499.70 Td (charters ) Tj ET Q q 0 0 0 rg BT 458.48 499.70 Td (do ) Tj ET Q q 0 0 0 rg BT 470.08 499.70 Td (not ) Tj ET Q q 0 0 0 rg BT 484.46 499.70 Td (begin ) Tj ET Q q 0 0 0 rg BT 508.27 499.70 Td (to ) Tj ET Q q 0 0 0 rg BT 517.65 499.70 Td (be ) Tj ET Q q 0 0 0 rg BT 528.69 499.70 Td (satisfied ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 487.70 Td (unless ) Tj ET Q q 0 0 0 rg BT 77.34 487.70 Td (the ) Tj ET Q q 0 0 0 rg BT 91.89 487.70 Td (vessel ) Tj ET Q q 0 0 0 rg BT 118.66 487.70 Td (arrives ) Tj ET Q q 0 0 0 rg BT 148.20 487.70 Td (at ) Tj ET Q q 0 0 0 rg BT 157.76 487.70 Td (the ) Tj ET Q q 0 0 0 rg BT 172.31 487.70 Td (load ) Tj ET Q q 0 0 0 rg BT 191.86 487.70 Td (port ) Tj ET Q q 0 0 0 rg BT 210.30 487.70 Td (and ) Tj ET Q q 0 0 0 rg BT 227.08 487.70 Td (commences ) Tj ET Q q 0 0 0 rg BT 276.62 487.70 Td (loading ) Tj ET Q q 0 0 0 rg BT 308.95 487.70 Td (the ) Tj ET Q q 0 0 0 rg BT 323.50 487.70 Td (car) Tj ET Q q 0 0 0 rg BT 335.53 487.70 Td (go. ) Tj ET Q q 0 0 0 rg BT 350.19 487.70 Td (This ) Tj ET Q q 0 0 0 rg BT 370.31 487.70 Td (impacted ) Tj ET Q q 0 0 0 rg BT 409.29 487.70 Td (the ) Tj ET Q q 0 0 0 rg BT 423.84 487.70 Td (amount ) Tj ET Q q 0 0 0 rg BT 456.17 487.70 Td (of ) Tj ET Q q 0 0 0 rg BT 466.84 487.70 Td (accounts ) Tj ET Q q 0 0 0 rg BT 504.16 487.70 Td (receivable ) Tj ET Q q 0 0 0 rg BT 547.58 487.70 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 475.70 Td (unearned ) Tj ET Q q 0 0 0 rg BT 89.15 475.70 Td (revenue ) Tj ET Q q 0 0 0 rg BT 123.29 475.70 Td (recorded ) Tj ET Q q 0 0 0 rg BT 160.77 475.70 Td (in ) Tj ET Q q 0 0 0 rg BT 171.04 475.70 Td (our ) Tj ET Q q 0 0 0 rg BT 186.88 475.70 Td (Condensed ) Tj ET Q q 0 0 0 rg BT 233.81 475.70 Td (Consolidated ) Tj ET Q q 0 0 0 rg BT 289.09 475.70 Td (Balance ) Tj ET Q q 0 0 0 rg BT 323.79 475.70 Td (Sheet.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 89.00 450.50 Td (The ) Tj ET Q q 0 0 0 rg BT 107.16 450.50 Td (following ) Tj ET Q q 0 0 0 rg BT 148.66 450.50 Td (table ) Tj ET Q q 0 0 0 rg BT 170.70 450.50 Td (presents ) Tj ET Q q 0 0 0 rg BT 206.08 450.50 Td (the ) Tj ET Q q 0 0 0 rg BT 220.91 450.50 Td (impact ) Tj ET Q q 0 0 0 rg BT 250.74 450.50 Td (of ) Tj ET Q q 0 0 0 rg BT 261.68 450.50 Td (the ) Tj ET Q q 0 0 0 rg BT 276.51 450.50 Td (adoption ) Tj ET Q q 0 0 0 rg BT 314.12 450.50 Td (of ) Tj ET Q q 0 0 0 rg BT 324.48 450.50 Td (ASC ) Tj ET Q q 0 0 0 rg BT 346.55 450.50 Td (606 ) Tj ET Q q 0 0 0 rg BT 364.16 450.50 Td (on ) Tj ET Q q 0 0 0 rg BT 376.77 450.50 Td (our ) Tj ET Q q 0 0 0 rg BT 392.72 450.50 Td (Condensed ) Tj ET Q q 0 0 0 rg BT 439.77 450.50 Td (Consolidated ) Tj ET Q q 0 0 0 rg BT 495.15 450.50 Td (Balance ) Tj ET Q q 0 0 0 rg BT 529.97 450.50 Td (Sheet ) Tj ET Q q 0 0 0 rg BT 554.80 450.50 Td (at ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 438.50 Td (September ) Tj ET Q q 0 0 0 rg BT 95.26 438.50 Td (30, ) Tj ET Q q 0 0 0 rg BT 110.26 438.50 Td (2018:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 104.50 414.80 151.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 255.50 414.80 290.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 104.50 365.80 151.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 255.50 365.80 94.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 349.50 365.80 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 353.50 365.80 94.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 447.50 365.80 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 451.50 365.80 94.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 104.50 335.80 151.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 255.50 335.80 94.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 349.50 335.80 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 353.50 335.80 94.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 447.50 335.80 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 451.50 335.80 94.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 104.50 305.80 151.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 255.50 305.80 94.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 349.50 305.80 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 353.50 305.80 94.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 447.50 305.80 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 451.50 305.80 94.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 255.5 414.8 m 349.5 414.8 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 349.5 414.8 m 353.5 414.8 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 349.5 399.8 m 353.5 399.8 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 353.5 414.8 m 447.5 414.8 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 447.5 414.8 m 451.5 414.8 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 447.5 399.8 m 451.5 399.8 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 451.5 414.8 m 545.5 414.8 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 255.5 399.8 m 349.5 399.8 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 255.5 365.8 m 349.5 365.8 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 353.5 399.8 m 447.5 399.8 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 353.5 365.8 m 447.5 365.8 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 451.5 399.8 m 545.5 399.8 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 451.5 365.8 m 545.5 365.8 l s BT /F2 10.00 Tf ET q 0 0 0 rg BT 346.05 404.48 Td (As of September) Tj ET Q q 0 0 0 rg BT 416.50 404.48 Td ( 30, 2018) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 275.15 370.48 Td (As Reported) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 363.45 390.48 Td (Balances without) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 363.60 380.48 Td (Adoption of ) Tj ET Q q 0 0 0 rg BT 416.67 380.48 Td (ASC) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 392.50 370.48 Td (606) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 462.15 370.48 Td (Effect of Change) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 107.00 355.48 Td (Assets) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 107.00 340.47 Td (Accounts receivable) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 258.00 340.47 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 305.65 340.47 Td (8,545,048) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 356.00 340.47 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 403.65 340.47 Td (9,154,057) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 454.00 340.47 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 505.80 340.52 Td (\(609,009) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 541.65 340.47 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 107.00 325.47 Td (Other current assets) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 313.15 325.47 Td (606,402) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 411.15 325.47 Td (354,605) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 509.15 325.47 Td (251,797) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 107.00 310.48 Td (Liabilities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 107.00 295.47 Td (Unearned charter hire revenue) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 305.65 295.47 Td (3,406,703) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 403.65 295.47 Td (3,527,715) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 509.15 295.47 Td (121,012) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 89.00 266.10 Td (The ) Tj ET Q q 0 0 0 rg BT 108.11 266.10 Td (following ) Tj ET Q q 0 0 0 rg BT 150.56 266.10 Td (table ) Tj ET Q q 0 0 0 rg BT 173.55 266.10 Td (presents ) Tj ET Q q 0 0 0 rg BT 209.88 266.10 Td (the ) Tj ET Q q 0 0 0 rg BT 225.66 266.10 Td (impact ) Tj ET Q q 0 0 0 rg BT 256.43 266.10 Td (of ) Tj ET Q q 0 0 0 rg BT 268.32 266.10 Td (the ) Tj ET Q q 0 0 0 rg BT 284.10 266.10 Td (adoption ) Tj ET Q q 0 0 0 rg BT 322.66 266.10 Td (of ) Tj ET Q q 0 0 0 rg BT 333.76 266.10 Td (ASC ) Tj ET Q q 0 0 0 rg BT 356.77 266.10 Td (606 ) Tj ET Q q 0 0 0 rg BT 375.34 266.10 Td (on ) Tj ET Q q 0 0 0 rg BT 388.90 266.10 Td (our ) Tj ET Q q 0 0 0 rg BT 405.79 266.10 Td (Condensed ) Tj ET Q q 0 0 0 rg BT 453.79 266.10 Td (Consolidated ) Tj ET Q q 0 0 0 rg BT 510.12 266.10 Td (Statement ) Tj ET Q q 0 0 0 rg BT 553.67 266.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 254.10 Td (Operations:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 94.50 230.40 80.00 -24.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 174.50 230.40 188.00 -24.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 362.50 230.40 5.00 -24.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 367.50 230.40 188.00 -24.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 94.50 162.40 80.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 174.50 162.40 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 234.50 162.40 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 238.50 162.40 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 298.50 162.40 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 302.50 162.40 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 362.50 162.40 5.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 367.50 162.40 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 427.50 162.40 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 431.50 162.40 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 491.50 162.40 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 495.50 162.40 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 94.50 132.40 80.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 174.50 132.40 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 234.50 132.40 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 238.50 132.40 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 298.50 132.40 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 302.50 132.40 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 362.50 132.40 5.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 367.50 132.40 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 427.50 132.40 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 431.50 132.40 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 491.50 132.40 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 495.50 132.40 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 94.50 102.40 80.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 174.50 102.40 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 234.50 102.40 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 238.50 102.40 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 298.50 102.40 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 302.50 102.40 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 362.50 102.40 5.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 367.50 102.40 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 427.50 102.40 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 431.50 102.40 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 491.50 102.40 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 495.50 102.40 60.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 174.5 230.39999999999998 m 234.5 230.39999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 234.5 230.39999999999998 m 238.5 230.39999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 234.5 206.39999999999998 m 238.5 206.39999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 238.5 230.39999999999998 m 298.5 230.39999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 298.5 230.39999999999998 m 302.5 230.39999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 298.5 206.39999999999998 m 302.5 206.39999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 302.5 230.39999999999998 m 362.5 230.39999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 367.5 230.39999999999998 m 427.5 230.39999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 230.39999999999998 m 431.5 230.39999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 431.5 230.39999999999998 m 491.5 230.39999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 491.5 230.39999999999998 m 495.5 230.39999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 495.5 230.39999999999998 m 555.5 230.39999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 174.5 206.39999999999998 m 234.5 206.39999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 174.5 162.39999999999998 m 234.5 162.39999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 234.5 162.39999999999998 m 238.5 162.39999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 238.5 206.39999999999998 m 298.5 206.39999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 238.5 162.39999999999998 m 298.5 162.39999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 298.5 162.39999999999998 m 302.5 162.39999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 302.5 206.39999999999998 m 362.5 206.39999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 302.5 162.39999999999998 m 362.5 162.39999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 367.5 206.39999999999998 m 427.5 206.39999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 367.5 162.39999999999998 m 427.5 162.39999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 206.39999999999998 m 431.5 206.39999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 162.39999999999998 m 431.5 162.39999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 431.5 206.39999999999998 m 491.5 206.39999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 431.5 162.39999999999998 m 491.5 162.39999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 491.5 206.39999999999998 m 495.5 206.39999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 491.5 162.39999999999998 m 495.5 162.39999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 495.5 206.39999999999998 m 555.5 206.39999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 495.5 162.39999999999998 m 555.5 162.39999999999998 l s BT /F2 10.00 Tf ET q 0 0 0 rg BT 181.55 221.08 Td (For) Tj ET Q q 0 0 0 rg BT 197.01 221.08 Td ( the ) Tj ET Q q 0 0 0 rg BT 215.16 221.08 Td (Thr) Tj ET Q q 0 0 0 rg BT 231.65 221.08 Td (ee Months Ended September) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 250.50 211.08 Td (30, 2018) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 377.15 221.08 Td (For) Tj ET Q q 0 0 0 rg BT 392.61 221.08 Td ( the Nine Months Ended September) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 443.50 211.08 Td (30, 2018) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 177.15 167.08 Td (As Reported) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 249.10 197.08 Td (Balances) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 251.60 187.08 Td (without) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 242.55 177.08 Td (Adoption of) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 249.20 167.08 Td (ASC 606) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 313.80 177.08 Td (Effect of) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 315.60 167.08 Td (Change) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 370.15 167.08 Td (As Reported) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 442.10 197.08 Td (Balances) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 444.60 187.08 Td (without) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 435.55 177.08 Td (Adoption of) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 442.20 167.08 Td (ASC 606) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 506.80 177.08 Td (Effect of) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 508.60 167.08 Td (Change) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 97.00 152.07 Td (Revenue, net) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 177.00 152.07 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 185.60 152.07 Td (36,215,143) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 241.00 152.07 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 249.60 152.07 Td (36,599,939) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 305.00 152.07 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 322.80 152.12 Td (\(384,796) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 358.65 152.07 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 370.00 152.07 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 373.60 152.07 Td (107,359,303) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 434.00 152.07 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 437.60 152.07 Td (107,200,894) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 498.00 152.07 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 519.15 152.07 Td (158,409) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 97.00 122.07 Td (V) Tj ET Q q 0 0 0 rg BT 103.58 122.07 Td (oyage expenses) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 190.60 122.07 Td (7,067,526) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 254.60 122.07 Td (7,428,647) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 322.80 122.12 Td (\(361,121) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 358.65 122.07 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 378.60 122.07 Td (22,701,040) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 442.60 122.07 Td (22,786,756) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 520.80 122.12 Td (\(85,716) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 551.65 122.07 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 97.00 92.07 Td (Net income/\(loss\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 190.60 92.07 Td (4,006,355) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 254.60 92.07 Td (4,258,875) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 322.80 92.12 Td (\(252,520) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 358.65 92.07 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 383.60 92.07 Td (7,841,384) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 447.60 92.07 Td (7,768,692) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 524.15 92.07 Td (72,692) Tj ET Q BT /F1 10.00 Tf ET endstream endobj 21 0 obj <> endobj 22 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 19.60 Td ( ) Tj ET Q q 0 0 0 rg BT 86.00 19.60 Td ( ) Tj ET Q q 0 0 0 rg BT 122.00 19.60 Td ( ) Tj ET Q q 0 0 0 rg BT 158.00 19.60 Td ( ) Tj ET Q q 0 0 0 rg BT 194.00 19.60 Td ( ) Tj ET Q q 0 0 0 rg BT 230.00 19.60 Td ( ) Tj ET Q q 0 0 0 rg BT 266.00 19.60 Td ( ) Tj ET Q q 0 0 0 rg BT 302.00 19.60 Td (F-8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 89.00 742.10 Td (The ) Tj ET Q q 0 0 0 rg BT 107.08 742.10 Td (cumulative ) Tj ET Q q 0 0 0 rg BT 154.04 742.10 Td (ef) Tj ET Q q 0 0 0 rg BT 161.63 742.10 Td (fect ) Tj ET Q q 0 0 0 rg BT 179.14 742.10 Td (of ) Tj ET Q q 0 0 0 rg BT 190.01 742.10 Td (changes ) Tj ET Q q 0 0 0 rg BT 224.74 742.10 Td (made ) Tj ET Q q 0 0 0 rg BT 248.93 742.10 Td (to ) Tj ET Q q 0 0 0 rg BT 259.24 742.10 Td (our ) Tj ET Q q 0 0 0 rg BT 275.10 742.10 Td (opening ) Tj ET Q q 0 0 0 rg BT 309.85 742.10 Td (Condensed ) Tj ET Q q 0 0 0 rg BT 356.82 742.10 Td (Consolidated ) Tj ET Q q 0 0 0 rg BT 412.13 742.10 Td (Balance ) Tj ET Q q 0 0 0 rg BT 446.86 742.10 Td (Sheet ) Tj ET Q q 0 0 0 rg BT 471.61 742.10 Td (on ) Tj ET Q q 0 0 0 rg BT 484.14 742.10 Td (January ) Tj ET Q q 0 0 0 rg BT 517.77 742.10 Td (1, ) Tj ET Q q 0 0 0 rg BT 527.80 742.10 Td (2018 ) Tj ET Q q 0 0 0 rg BT 550.34 742.10 Td (for ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 730.10 Td (the ) Tj ET Q q 0 0 0 rg BT 64.72 730.10 Td (adoption ) Tj ET Q q 0 0 0 rg BT 102.21 730.10 Td (of ) Tj ET Q q 0 0 0 rg BT 112.49 730.10 Td (ASC ) Tj ET Q q 0 0 0 rg BT 134.44 730.10 Td (606:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 98.50 706.40 163.00 -34.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 261.50 706.40 94.00 -34.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 355.50 706.40 4.00 -34.00 re f /GS0 gs 0.8 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gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 457.5 672.4 m 551.5 672.4 l s BT /F2 10.00 Tf ET q 0 0 0 rg BT 267.65 677.08 Td (December) Tj ET Q q 0 0 0 rg BT 310.87 677.08 Td ( 31, 2017) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 366.80 687.08 Td (Effect of ) Tj ET Q q 0 0 0 rg BT 405.39 687.08 Td (Adoption) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 382.10 677.08 Td (of ) Tj ET Q q 0 0 0 rg BT 392.65 677.08 Td (ASC 606) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 469.95 677.08 Td (January 1, 2018) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 101.00 662.08 Td (Assets) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 101.00 641.07 Td (Other current assets ) Tj ET Q BT /F1 9.00 Tf ET BT /F1 5.85 Tf ET q 0 0 0 rg BT 182.91 645.14 Td (\(1\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 264.00 641.07 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 319.15 641.07 Td (126,837) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 362.00 641.07 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 417.15 641.07 Td (332,415) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 460.00 641.07 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 515.15 641.07 Td (459,252) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 101.00 626.08 Td (Liabilities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 101.00 611.07 Td (Unearned charter hire revenue ) Tj ET Q BT /F1 9.00 Tf ET BT /F1 5.85 Tf ET q 0 0 0 rg BT 224.81 615.14 Td (\(2\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 311.65 611.07 Td (2,916,029) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 417.15 611.07 Td (888,429) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 507.65 611.07 Td (3,804,458) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 101.00 596.08 Td (Member's Equity) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 101.00 581.07 Td (Accumulated deficit) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 298.30 581.07 Td (\(174,094,047) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.65 581.07 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 413.80 581.12 Td (\(556,014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 449.65 581.07 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 494.30 581.12 Td (\(174,650,061) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 547.65 581.07 Td (\)) Tj ET Q BT /F1 10.00 Tf ET BT /F1 9.00 Tf ET BT /F1 5.85 Tf ET q 0 0 0 rg BT 50.00 555.78 Td (\(1\) ) Tj ET Q BT /F1 5.85 Tf ET q 0 0 0 rg BT 57.78 555.78 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.75 551.70 Td (Under ) Tj ET Q q 0 0 0 rg BT 85.02 551.70 Td (ASC ) Tj ET Q q 0 0 0 rg BT 106.12 551.70 Td (606, ) Tj ET Q q 0 0 0 rg BT 125.27 551.70 Td (the ) Tj ET Q q 0 0 0 rg BT 139.14 551.70 Td (contract ) Tj ET Q q 0 0 0 rg BT 172.99 551.70 Td (fulfillment ) Tj ET Q q 0 0 0 rg BT 217.40 551.70 Td (costs ) Tj ET Q q 0 0 0 rg BT 239.05 551.70 Td (are ) Tj ET Q q 0 0 0 rg BT 252.91 551.70 Td (deferred ) Tj ET Q q 0 0 0 rg BT 287.86 551.70 Td (as ) Tj ET Q q 0 0 0 rg BT 297.84 551.70 Td (a ) Tj ET Q q 0 0 0 rg BT 303.92 551.70 Td (current ) Tj ET Q q 0 0 0 rg BT 333.89 551.70 Td (asset ) Tj ET Q q 0 0 0 rg BT 354.97 551.70 Td (and ) Tj ET Q q 0 0 0 rg BT 371.06 551.70 Td (amortized ) Tj ET Q q 0 0 0 rg BT 412.69 551.70 Td (as ) Tj ET Q q 0 0 0 rg BT 422.67 551.70 Td (the ) Tj ET Q q 0 0 0 rg BT 436.53 551.70 Td (related ) Tj ET Q q 0 0 0 rg BT 465.38 551.70 Td (performance ) Tj ET Q q 0 0 0 rg BT 517.55 551.70 Td (obligations ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 539.70 Td (are ) Tj ET Q q 0 0 0 rg BT 64.11 539.70 Td (satisfied. ) Tj ET Q q 0 0 0 rg BT 101.69 539.70 Td (The ) Tj ET Q q 0 0 0 rg BT 119.14 539.70 Td (Other ) Tj ET Q q 0 0 0 rg BT 143.80 539.70 Td (current ) Tj ET Q q 0 0 0 rg BT 174.02 539.70 Td (assets ) Tj ET Q q 0 0 0 rg BT 199.25 539.70 Td (consists ) Tj ET Q q 0 0 0 rg BT 232.81 539.70 Td (of ) Tj ET Q q 0 0 0 rg BT 243.04 539.70 Td (bunker ) Tj ET Q q 0 0 0 rg BT 272.71 539.70 Td (expenses ) Tj ET Q q 0 0 0 rg BT 310.71 539.70 Td (of ) Tj ET Q q 0 0 0 rg BT 320.94 539.70 Td ($0.3 ) Tj ET Q q 0 0 0 rg BT 340.33 539.70 Td (million ) Tj ET Q q 0 0 0 rg BT 371.12 539.70 Td (incurred ) Tj ET Q q 0 0 0 rg BT 406.34 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rg BT 334.65 527.70 Td (under ) Tj ET Q q 0 0 0 rg BT 359.92 527.70 Td (the ) Tj ET Q q 0 0 0 rg BT 374.64 527.70 Td (voyage ) Tj ET Q q 0 0 0 rg BT 406.02 527.70 Td (contract.) Tj ET Q BT /F1 9.00 Tf ET BT /F1 5.85 Tf ET q 0 0 0 rg BT 50.00 507.78 Td (\(2\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 56.82 503.70 Td ( ) Tj ET Q q 0 0 0 rg BT 59.18 503.70 Td (Under ) Tj ET Q q 0 0 0 rg BT 86.00 503.70 Td (ASC ) Tj ET Q q 0 0 0 rg BT 107.82 503.70 Td (606, ) Tj ET Q q 0 0 0 rg BT 127.67 503.70 Td (unearned ) Tj ET Q q 0 0 0 rg BT 166.68 503.70 Td (charter ) Tj ET Q q 0 0 0 rg BT 196.79 503.70 Td (hire ) Tj ET Q q 0 0 0 rg BT 214.69 503.70 Td (revenue ) Tj ET Q q 0 0 0 rg BT 248.69 503.70 Td (represents ) Tj ET Q q 0 0 0 rg BT 291.59 503.70 Td (the ) Tj ET Q q 0 0 0 rg BT 306.16 503.70 Td (consideration ) Tj ET Q q 0 0 0 rg BT 362.39 503.70 Td (received ) Tj ET Q q 0 0 0 rg BT 398.61 503.70 Td (for ) Tj ET Q q 0 0 0 rg BT 412.63 503.70 Td (undelivered ) Tj ET Q q 0 0 0 rg BT 462.19 503.70 Td (performance ) Tj ET Q q 0 0 0 rg BT 515.07 503.70 Td (obligations. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 491.70 Td (The ) Tj ET Q q 0 0 0 rg BT 67.09 491.70 Td (Company ) Tj ET Q q 0 0 0 rg BT 107.52 491.70 Td (recorded ) Tj ET Q q 0 0 0 rg BT 144.04 491.70 Td ($0.9 ) Tj ET Q q 0 0 0 rg BT 163.09 491.70 Td (million ) Tj ET Q q 0 0 0 rg BT 193.52 491.70 Td (as ) Tj ET Q q 0 0 0 rg BT 203.40 491.70 Td (the ) Tj ET Q q 0 0 0 rg BT 217.16 491.70 Td (unearned ) Tj ET Q q 0 0 0 rg BT 255.35 491.70 Td (revenue ) Tj ET Q q 0 0 0 rg BT 288.54 491.70 Td (on ) Tj ET Q q 0 0 0 rg BT 300.08 491.70 Td (voyage ) Tj ET Q q 0 0 0 rg BT 330.50 491.70 Td (in ) Tj ET Q q 0 0 0 rg BT 339.83 491.70 Td (progress ) Tj ET Q q 0 0 0 rg BT 375.25 491.70 Td (as ) Tj ET Q q 0 0 0 rg BT 385.13 491.70 Td (of ) Tj ET Q q 0 0 0 rg BT 395.00 491.70 Td (January ) Tj ET Q q 0 0 0 rg BT 427.65 491.70 Td (1, ) Tj ET Q q 0 0 0 rg BT 436.69 491.70 Td (2018. ) Tj ET Q q 0 0 0 rg BT 460.62 491.70 Td (The ) Tj ET Q q 0 0 0 rg BT 477.71 491.70 Td (Company ) Tj ET Q q 0 0 0 rg BT 518.15 491.70 Td (recognized ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 479.70 Td (this ) Tj ET Q q 0 0 0 rg BT 66.95 479.70 Td (revenue ) Tj ET Q q 0 0 0 rg BT 101.09 479.70 Td (in ) Tj ET Q q 0 0 0 rg BT 111.37 479.70 Td (the ) Tj ET Q q 0 0 0 rg BT 126.09 479.70 Td (first ) Tj ET Q q 0 0 0 rg BT 144.70 479.70 Td (quarter ) Tj ET Q q 0 0 0 rg BT 175.51 479.70 Td (of ) Tj ET Q q 0 0 0 rg BT 186.34 479.70 Td (2018 ) Tj ET Q q 0 0 0 rg BT 208.84 479.70 Td (as ) Tj ET Q q 0 0 0 rg BT 219.67 479.70 Td (the ) Tj ET Q q 0 0 0 rg BT 234.39 479.70 Td (performance ) Tj ET Q q 0 0 0 rg BT 287.41 479.70 Td (obligations ) Tj ET Q q 0 0 0 rg BT 334.36 479.70 Td (are ) Tj ET Q q 0 0 0 rg BT 349.06 479.70 Td (met.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 455.70 Td ( ) Tj ET Q q 0 0 0 rg BT 86.00 455.70 Td (The ) Tj ET Q q 0 0 0 rg BT 104.03 455.70 Td (adoption ) Tj ET Q q 0 0 0 rg BT 141.51 455.70 Td (of ) Tj ET Q q 0 0 0 rg BT 151.78 455.70 Td (ASC ) Tj ET Q q 0 0 0 rg BT 173.71 455.70 Td (606 ) Tj ET Q q 0 0 0 rg BT 191.20 455.70 Td (had ) Tj ET Q q 0 0 0 rg BT 208.12 455.70 Td (no ) Tj ET Q q 0 0 0 rg BT 220.61 455.70 Td (impact ) Tj ET Q q 0 0 0 rg BT 250.30 455.70 Td (on ) Tj ET Q q 0 0 0 rg BT 262.79 455.70 Td (net ) Tj ET Q q 0 0 0 rg BT 277.49 455.70 Td (cash ) Tj ET Q q 0 0 0 rg BT 297.74 455.70 Td (provided ) Tj ET Q q 0 0 0 rg BT 335.77 455.70 Td (by ) Tj ET Q q 0 0 0 rg BT 348.26 455.70 Td (operating ) Tj ET Q q 0 0 0 rg BT 388.50 455.70 Td (activities, ) Tj ET Q q 0 0 0 rg BT 429.59 455.70 Td (investing ) Tj ET Q q 0 0 0 rg BT 468.74 455.70 Td (activities ) Tj ET Q q 0 0 0 rg BT 507.32 455.70 Td (and ) Tj ET Q q 0 0 0 rg BT 524.24 455.70 Td (financing ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 443.70 Td (activities ) Tj ET Q q 0 0 0 rg BT 88.60 443.70 Td (for ) Tj ET Q q 0 0 0 rg BT 102.76 443.70 Td (the ) Tj ET Q q 0 0 0 rg BT 117.48 443.70 Td (nine ) Tj ET Q q 0 0 0 rg BT 137.19 443.70 Td (months ) Tj ET Q q 0 0 0 rg BT 169.14 443.70 Td (ended ) Tj ET Q q 0 0 0 rg BT 195.52 443.70 Td (September ) Tj ET Q q 0 0 0 rg BT 240.78 443.70 Td (30, ) Tj ET Q q 0 0 0 rg BT 255.78 443.70 Td (2018.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 419.70 Td ( ) Tj ET Q q 0 0 0 rg BT 86.00 419.70 Td (W) Tj ET Q q 0 0 0 rg BT 94.64 419.70 Td (e ) Tj ET Q q 0 0 0 rg BT 101.09 419.70 Td (adopted ) Tj ET Q q 0 0 0 rg BT 134.75 419.70 Td (the ) Tj ET Q q 0 0 0 rg BT 148.54 419.70 Td (ASU ) Tj ET Q q 0 0 0 rg BT 170.56 419.70 Td (No. ) Tj ET Q q 0 0 0 rg BT 187.29 419.70 Td (2016-18, ) Tj ET Q q 0 0 0 rg BT 225.13 419.70 Td ("Statement ) Tj ET Q q 0 0 0 rg BT 271.22 419.70 Td (of ) Tj ET Q q 0 0 0 rg BT 281.56 419.70 Td (Cash ) Tj ET Q q 0 0 0 rg BT 303.57 419.70 Td (Flows ) Tj ET Q q 0 0 0 rg BT 330.03 419.70 Td (- ) Tj ET Q q 0 0 0 rg BT 335.38 419.70 Td (Restricted ) Tj ET Q q 0 0 0 rg BT 377.93 419.70 Td (Cash" ) Tj ET Q q 0 0 0 rg BT 404.02 419.70 Td (\("ASU ) Tj ET Q q 0 0 0 rg BT 433.45 419.70 Td (2016-18"\) ) Tj ET Q q 0 0 0 rg BT 476.21 419.70 Td (as ) Tj ET Q q 0 0 0 rg BT 486.55 419.70 Td (of ) Tj ET Q q 0 0 0 rg BT 496.89 419.70 Td (January ) Tj ET Q q 0 0 0 rg BT 530.00 419.70 Td (1, ) Tj ET Q q 0 0 0 rg BT 539.51 419.70 Td (2018, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 407.70 Td (which ) Tj ET Q q 0 0 0 rg BT 77.20 407.70 Td (requires ) Tj ET Q q 0 0 0 rg BT 112.17 407.70 Td (that ) Tj ET Q q 0 0 0 rg BT 129.93 407.70 Td (the ) Tj ET Q q 0 0 0 rg BT 144.91 407.70 Td (statement ) Tj ET Q q 0 0 0 rg BT 185.99 407.70 Td (of ) Tj ET Q q 0 0 0 rg BT 197.08 407.70 Td (cash ) Tj ET Q q 0 0 0 rg BT 217.62 407.70 Td (flows ) Tj ET Q q 0 0 0 rg BT 242.60 407.70 Td (explain ) Tj ET Q q 0 0 0 rg BT 274.80 407.70 Td (the ) Tj ET Q q 0 0 0 rg BT 289.78 407.70 Td (change ) Tj ET Q q 0 0 0 rg BT 320.85 407.70 Td (in ) Tj ET Q q 0 0 0 rg BT 331.39 407.70 Td (the ) Tj ET Q q 0 0 0 rg BT 346.37 407.70 Td (total ) Tj ET Q q 0 0 0 rg BT 366.91 407.70 Td (of ) Tj ET Q q 0 0 0 rg BT 378.00 407.70 Td (cash ) Tj ET Q q 0 0 0 rg BT 398.53 407.70 Td (and ) Tj ET Q q 0 0 0 rg BT 415.74 407.70 Td (cash ) Tj ET Q q 0 0 0 rg BT 436.27 407.70 Td (equivalents ) Tj ET Q q 0 0 0 rg BT 484.57 407.70 Td (and ) Tj ET Q q 0 0 0 rg BT 501.77 407.70 Td (restricted ) Tj ET Q q 0 0 0 rg BT 541.74 407.70 Td (cash. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 395.70 Td (ASU ) Tj ET Q q 0 0 0 rg BT 72.50 395.70 Td (2016-18 ) Tj ET Q q 0 0 0 rg BT 108.33 395.70 Td (was ) Tj ET Q q 0 0 0 rg BT 126.39 395.70 Td (adopted ) Tj ET Q q 0 0 0 rg BT 160.54 395.70 Td (retrospectively ) Tj ET Q q 0 0 0 rg BT 222.46 395.70 Td (to ) Tj ET Q q 0 0 0 rg BT 232.74 395.70 Td (the ) Tj ET Q q 0 0 0 rg BT 247.46 395.70 Td (nine ) Tj ET Q q 0 0 0 rg BT 267.17 395.70 Td (months ) Tj ET Q q 0 0 0 rg BT 299.12 395.70 Td (ended ) Tj ET Q q 0 0 0 rg BT 325.50 395.70 Td (September ) Tj ET Q q 0 0 0 rg BT 370.76 395.70 Td (30, ) Tj ET Q q 0 0 0 rg BT 385.76 395.70 Td (2018. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 359.70 Td (Note 3. ) Tj ET Q q 0 0 0 rg BT 82.31 359.70 Td (V) Tj ET Q q 0 0 0 rg BT 88.61 359.70 Td (essels and vessel impr) Tj ET Q q 0 0 0 rg BT 180.93 359.70 Td (ovements) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 89.00 335.70 Td (As ) Tj ET Q q 0 0 0 rg BT 102.61 335.70 Td (of ) Tj ET Q q 0 0 0 rg BT 113.44 335.70 Td (September30, ) Tj ET Q q 0 0 0 rg BT 173.71 335.70 Td (2018, ) Tj ET Q q 0 0 0 rg BT 198.71 335.70 Td (the ) Tj ET Q q 0 0 0 rg BT 213.42 335.70 Td (Company) Tj ET Q q 0 0 0 rg BT 255.09 335.70 Td (s ) Tj ET Q q 0 0 0 rg BT 261.48 335.70 Td (operating ) Tj ET Q q 0 0 0 rg BT 301.74 335.70 Td (fleet ) Tj ET Q q 0 0 0 rg BT 322.01 335.70 Td (consisted ) Tj ET Q q 0 0 0 rg BT 361.72 335.70 Td (of ) Tj ET Q q 0 0 0 rg BT 372.55 335.70 Td (27 ) Tj ET Q q 0 0 0 rg BT 385.05 335.70 Td (dry ) Tj ET Q q 0 0 0 rg BT 400.88 335.70 Td (bulk ) Tj ET Q q 0 0 0 rg BT 421.16 335.70 Td (vessels.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 89.00 311.70 Td (On ) Tj ET Q q 0 0 0 rg BT 103.57 311.70 Td (March ) Tj ET Q q 0 0 0 rg BT 132.02 311.70 Td (23, ) Tj ET Q q 0 0 0 rg BT 146.87 311.70 Td (2018, ) Tj ET Q q 0 0 0 rg BT 171.72 311.70 Td (the ) Tj ET Q q 0 0 0 rg BT 186.29 311.70 Td (Company ) Tj ET Q q 0 0 0 rg BT 227.53 311.70 Td (signed ) Tj ET Q q 0 0 0 rg BT 255.99 311.70 Td (a ) Tj ET Q q 0 0 0 rg BT 262.78 311.70 Td (memorandum ) Tj ET Q q 0 0 0 rg BT 320.67 311.70 Td (of ) Tj ET Q q 0 0 0 rg BT 331.35 311.70 Td (agreement ) Tj ET Q q 0 0 0 rg BT 375.35 311.70 Td (to ) Tj ET Q q 0 0 0 rg BT 385.47 311.70 Td (sell ) Tj ET Q q 0 0 0 rg BT 401.71 311.70 Td (the ) Tj ET Q q 0 0 0 rg BT 416.28 311.70 Td (vessel ) Tj ET Q q 0 0 0 rg BT 442.90 311.70 Td (Thrush ) Tj ET Q q 0 0 0 rg BT 473.58 311.70 Td (for ) Tj ET Q q 0 0 0 rg BT 487.59 311.70 Td ($10.9 ) Tj ET Q q 0 0 0 rg BT 512.44 311.70 Td (million ) Tj ET Q q 0 0 0 rg BT 543.69 311.70 Td (after ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 299.70 Td (brokerage ) Tj ET Q q 0 0 0 rg BT 93.43 299.70 Td (commissions ) Tj ET Q q 0 0 0 rg BT 149.10 299.70 Td (and ) Tj ET Q q 0 0 0 rg BT 166.99 299.70 Td (associated ) Tj ET Q q 0 0 0 rg BT 211.53 299.70 Td (selling ) Tj ET Q q 0 0 0 rg BT 241.65 299.70 Td (expenses. ) Tj ET Q q 0 0 0 rg BT 283.45 299.70 Td (The ) Tj ET Q q 0 0 0 rg BT 302.44 299.70 Td (vessel ) Tj ET Q q 0 0 0 rg BT 330.33 299.70 Td (delivered ) Tj ET Q q 0 0 0 rg BT 370.98 299.70 Td (to ) Tj ET Q q 0 0 0 rg BT 382.21 299.70 Td (the ) Tj ET Q q 0 0 0 rg BT 397.88 299.70 Td (buyers ) Tj ET Q q 0 0 0 rg BT 427.99 299.70 Td (in ) Tj ET Q q 0 0 0 rg BT 439.22 299.70 Td (the ) Tj ET Q q 0 0 0 rg BT 454.88 299.70 Td (third ) Tj ET Q q 0 0 0 rg BT 477.22 299.70 Td (quarter ) Tj ET Q q 0 0 0 rg BT 508.98 299.70 Td (of ) Tj ET Q q 0 0 0 rg BT 520.76 299.70 Td (2018. ) Tj ET Q q 0 0 0 rg BT 546.46 299.70 Td (The ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 287.70 Td (Company ) Tj ET Q q 0 0 0 rg BT 90.56 287.70 Td (recorded ) Tj ET Q q 0 0 0 rg BT 127.21 287.70 Td (a ) Tj ET Q q 0 0 0 rg BT 133.33 287.70 Td (gain ) Tj ET Q q 0 0 0 rg BT 152.22 287.70 Td (of ) Tj ET Q q 0 0 0 rg BT 162.22 287.70 Td ($0.2 ) Tj ET Q q 0 0 0 rg BT 181.40 287.70 Td (million. ) Tj ET Q q 0 0 0 rg BT 214.46 287.70 Td ( ) Tj ET Q q 0 0 0 rg BT 216.02 287.70 Td (The ) Tj ET Q q 0 0 0 rg BT 233.24 287.70 Td (net ) Tj ET Q q 0 0 0 rg BT 247.13 287.70 Td (proceeds ) Tj ET Q q 0 0 0 rg BT 284.34 287.70 Td (received ) Tj ET Q q 0 0 0 rg BT 319.88 287.70 Td (for ) Tj ET Q q 0 0 0 rg BT 333.21 287.70 Td (the ) Tj ET Q q 0 0 0 rg BT 347.11 287.70 Td (sale ) Tj ET Q q 0 0 0 rg BT 364.33 287.70 Td (of ) Tj ET Q q 0 0 0 rg BT 374.33 287.70 Td (the ) Tj ET Q q 0 0 0 rg BT 388.22 287.70 Td (vessel ) Tj ET Q q 0 0 0 rg BT 414.22 287.70 Td (Thrush ) Tj ET Q q 0 0 0 rg BT 444.22 287.70 Td (was ) Tj ET Q q 0 0 0 rg BT 461.45 287.70 Td (deposited ) Tj ET Q q 0 0 0 rg BT 501.45 287.70 Td (into ) Tj ET Q q 0 0 0 rg BT 518.68 287.70 Td (a ) Tj ET Q q 0 0 0 rg BT 524.79 287.70 Td (restricted ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 275.70 Td (account ) Tj ET Q q 0 0 0 rg BT 83.59 275.70 Td (as ) Tj ET Q q 0 0 0 rg BT 94.42 275.70 Td (per ) Tj ET Q q 0 0 0 rg BT 109.69 275.70 Td (the ) Tj ET Q q 0 0 0 rg BT 124.41 275.70 Td (bond ) Tj ET Q q 0 0 0 rg BT 146.91 275.70 Td (terms ) Tj ET Q q 0 0 0 rg BT 171.63 275.70 Td (under ) Tj ET Q q 0 0 0 rg BT 196.89 275.70 Td (the ) Tj ET Q q 0 0 0 rg BT 211.61 275.70 Td (Norwegian ) Tj ET Q q 0 0 0 rg BT 258.54 275.70 Td (Bond ) Tj ET Q q 0 0 0 rg BT 282.71 275.70 Td (Debt.) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 78.50 253.20 256.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 334.50 253.20 93.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 427.50 253.20 7.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 434.50 253.20 98.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 78.50 224.20 256.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 334.50 224.20 93.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 427.50 224.20 7.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 434.50 224.20 98.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 78.50 196.20 256.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 334.50 196.20 93.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 427.50 196.20 7.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 434.50 196.20 98.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 78.50 168.20 256.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 334.50 168.20 93.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 427.50 168.20 7.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 434.50 168.20 98.00 -14.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 334.5 253.20000000000005 m 427.5 253.20000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 334.5 238.20000000000005 m 427.5 238.20000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 434.5 253.20000000000005 m 532.5 253.20000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 434.5 238.20000000000005 m 532.5 238.20000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 334.5 154.20000000000005 m 427.5 154.20000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 434.5 154.20000000000005 m 532.5 154.20000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 334.5 154.20000000000005 m 427.5 154.20000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 334.5 136.20000000000005 m 427.5 136.20000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 334.5 134.20000000000005 m 427.5 134.20000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 434.5 154.20000000000005 m 532.5 154.20000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 434.5 136.20000000000005 m 532.5 136.20000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 434.5 134.20000000000005 m 532.5 134.20000000000005 l s BT /F1 10.00 Tf ET q 0 0 0 rg BT 81.00 242.87 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 338.75 242.88 Td (September) Tj ET Q q 0 0 0 rg BT 384.76 242.88 Td ( 30, 2018) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 442.65 242.88 Td (December) Tj ET Q q 0 0 0 rg BT 485.77 242.88 Td ( 31, 2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 81.00 228.77 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 337.00 228.77 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 81.00 214.77 Td (V) Tj ET Q q 0 0 0 rg BT 87.67 214.77 Td (essel and vessel improvements at the beginning of the year) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 337.00 214.77 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 373.65 214.77 Td (366,054,562) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 437.00 214.77 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 478.65 214.77 Td (363,093,345) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 81.00 200.77 Td (Advance paid for purchase of Singapore Eagle) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 413.65 200.77 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 488.65 200.77 Td (1,926,886) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 81.00 186.77 Td (Purchase of ) Tj ET Q q 0 0 0 rg BT 130.34 186.77 Td (V) Tj ET Q q 0 0 0 rg BT 136.92 186.77 Td (essels and vessel improvements) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.15 186.77 Td (126,482) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 483.65 186.77 Td (18,246,428) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 81.00 172.77 Td (Depreciation Expense) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 375.30 172.82 Td (\(12,871,150) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 423.65 172.77 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 480.30 172.82 Td (\(17,212,097) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 528.65 172.77 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 81.00 158.77 Td (T) Tj ET Q q 0 0 0 rg BT 86.93 158.77 Td (ransfer to vessel held for sale) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 375.30 158.82 Td (\(10,354,855) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 423.65 158.77 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 518.65 158.77 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 81.00 139.87 Td (V) Tj ET Q q 0 0 0 rg BT 87.11 139.87 Td (essel and vessel improvements at the end of the period) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 337.00 139.88 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 373.65 139.88 Td (342,955,039) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 437.00 139.88 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 478.65 139.88 Td (366,054,562) Tj ET Q BT /F1 10.00 Tf ET endstream endobj 23 0 obj <> endobj 24 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 19.60 Td ( ) Tj ET Q q 0 0 0 rg BT 86.00 19.60 Td ( ) Tj ET Q q 0 0 0 rg BT 122.00 19.60 Td ( ) Tj ET Q q 0 0 0 rg BT 158.00 19.60 Td ( ) Tj ET Q q 0 0 0 rg BT 194.00 19.60 Td ( ) Tj ET Q q 0 0 0 rg BT 230.00 19.60 Td ( ) Tj ET Q q 0 0 0 rg BT 266.00 19.60 Td ( ) Tj ET Q q 0 0 0 rg BT 302.00 19.60 Td (F-9) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 742.25 Td (Note 4. Deferr) Tj ET Q q 0 0 0 rg BT 110.62 742.25 Td (ed Drydock costs) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 718.25 Td (Drydocking activity is summarized as follows:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 121.00 683.75 177.00 -28.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 298.00 683.75 4.00 -28.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 302.00 683.75 93.00 -28.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 395.00 683.75 4.00 -28.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 399.00 683.75 91.00 -28.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 121.00 641.75 177.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 298.00 641.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 302.00 641.75 93.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 395.00 641.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 399.00 641.75 91.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 121.00 613.75 177.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 298.00 613.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 302.00 613.75 93.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 395.00 613.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 399.00 613.75 91.00 -14.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 302 683.75 m 395 683.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 302 655.75 m 395 655.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 399 683.75 m 490 683.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 399 655.75 m 490 655.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 302 599.75 m 395 599.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 302 599.75 m 395 599.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 302 586.75 m 395 586.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 302 584.75 m 395 584.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 399 599.75 m 490 599.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 399 586.75 m 490 586.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 399 584.75 m 490 584.75 l s BT /F1 10.00 Tf ET q 0 0 0 rg BT 123.50 660.42 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 306.25 660.43 Td (September) Tj ET Q q 0 0 0 rg BT 352.26 660.43 Td ( 30, 2018) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 403.65 660.43 Td (December) Tj ET Q q 0 0 0 rg BT 446.77 660.43 Td ( 31, 2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 123.50 646.32 Td (Beginning Balance) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 304.50 646.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.15 646.32 Td (6,765,953) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 401.50 646.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 446.15 646.32 Td (7,273,179) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 123.50 632.32 Td (Drydocking expenditures) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.15 632.32 Td (3,057,441) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 446.15 632.32 Td (2,579,1) Tj ET Q q 0 0 0 rg BT 476.15 632.32 Td (10) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 123.50 618.32 Td (Drydock write of) Tj ET Q q 0 0 0 rg BT 192.28 618.32 Td (f for the sale of ) Tj ET Q q 0 0 0 rg BT 255.68 618.32 Td (Thrush) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 355.30 618.37 Td (\(235,639) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.15 618.32 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 476.15 618.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 123.50 604.32 Td (Drydock amortization) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 347.80 604.37 Td (\(2,81) Tj ET Q q 0 0 0 rg BT 368.63 604.37 Td (1,776) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.15 604.32 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 442.80 604.37 Td (\(3,086,336) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 486.15 604.32 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 123.50 590.32 Td (Ending Balance) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 304.50 590.43 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 351.15 590.43 Td (6,775,979) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 401.50 590.43 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 446.15 590.43 Td (6,765,953) Tj ET Q BT /F1 10.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 550.25 Td (Note 5. Debt) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 526.25 Td (Long-term debt consists of the following:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 61.50 503.75 288.00 -24.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 349.50 503.75 4.00 -24.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 353.50 503.75 95.00 -24.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 448.50 503.75 4.00 -24.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 452.50 503.75 97.00 -24.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 61.50 464.75 288.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 349.50 464.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 353.50 464.75 95.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 448.50 464.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 452.50 464.75 97.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 61.50 434.75 288.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 349.50 434.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 353.50 434.75 95.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 448.50 434.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 452.50 434.75 97.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 353.5 503.75 m 448.5 503.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 353.5 479.75 m 448.5 479.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 452.5 503.75 m 549.5 503.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 452.5 479.75 m 549.5 479.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 353.5 449.75 m 448.5 449.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 452.5 449.75 m 549.5 449.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 353.5 419.75 m 448.5 419.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 353.5 405.75 m 448.5 405.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 353.5 403.75 m 448.5 403.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 452.5 419.75 m 549.5 419.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 452.5 405.75 m 549.5 405.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 452.5 403.75 m 549.5 403.75 l s BT /F1 10.00 Tf ET q 0 0 0 rg BT 64.00 484.42 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 358.75 484.43 Td (September) Tj ET Q q 0 0 0 rg BT 404.76 484.43 Td ( 30, 2018) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 460.15 484.43 Td (December) Tj ET Q q 0 0 0 rg BT 503.27 484.43 Td ( 31, 2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 64.00 469.42 Td (Norwegian Bond Debt) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 356.00 469.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 394.65 469.42 Td (200,000,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.65 469.42 Td (200,000,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 64.00 454.42 Td (Debt discount and debt issuance costs - Norwegian Bond Debt) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 401.30 454.47 Td (\(5,297,156) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 444.65 454.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 502.30 454.47 Td (\(6,049,671) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 545.65 454.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 64.00 439.42 Td (Norwegian Bond Debt, net of debt discount and debt issuance costs) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 394.65 439.42 Td (194,702,844) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.65 439.42 Td (193,950,329) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 64.00 424.42 Td (Less: Current Portion - Norwegian Bond Debt) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 401.30 424.47 Td (\(8,000,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 444.65 424.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 502.30 424.47 Td (\(4,000,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 545.65 424.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 64.00 409.42 Td (T) Tj ET Q q 0 0 0 rg BT 69.41 409.42 Td (otal long-term debt) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 356.00 409.43 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 394.65 409.43 Td (186,702,844) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 495.65 409.43 Td (189,950,329) Tj ET Q BT /F1 10.00 Tf ET BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 381.25 Td (Norwegian Bond Debt) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 357.25 Td ( ) Tj ET Q q 0 0 0 rg BT 86.00 357.25 Td (On ) Tj ET Q q 0 0 0 rg BT 101.56 357.25 Td (November ) Tj ET Q q 0 0 0 rg BT 147.10 357.25 Td (28, ) Tj ET Q q 0 0 0 rg BT 162.94 357.25 Td (2017, ) Tj ET Q q 0 0 0 rg BT 188.77 357.25 Td (Eagle ) Tj ET Q q 0 0 0 rg BT 214.87 357.25 Td (Bulk ) Tj ET Q q 0 0 0 rg BT 237.66 357.25 Td (Shipco ) Tj ET Q q 0 0 0 rg BT 268.77 357.25 Td (LLC, ) Tj ET Q q 0 0 0 rg BT 293.50 357.25 Td (\("Shipco" ) Tj ET Q q 0 0 0 rg BT 336.11 357.25 Td (or ) Tj ET Q q 0 0 0 rg BT 347.77 357.25 Td ("Issuer"\) ) Tj ET Q q 0 0 0 rg BT 386.48 357.25 Td (issued ) Tj ET Q q 0 0 0 rg BT 414.82 357.25 Td ($200,000,000 ) Tj ET Q q 0 0 0 rg BT 473.16 357.25 Td (in ) Tj ET Q q 0 0 0 rg BT 484.27 357.25 Td (aggregate ) Tj ET Q q 0 0 0 rg BT 526.47 357.25 Td (principal ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 345.25 Td (amount ) Tj ET Q q 0 0 0 rg BT 82.31 345.25 Td (of ) Tj ET Q q 0 0 0 rg BT 92.96 345.25 Td (8.25% ) Tj ET Q q 0 0 0 rg BT 121.11 345.25 Td (Senior ) Tj ET Q q 0 0 0 rg BT 149.53 345.25 Td (Secured ) Tj ET Q q 0 0 0 rg BT 184.06 345.25 Td (Bonds ) Tj ET Q q 0 0 0 rg BT 211.93 345.25 Td (\( ) Tj ET Q q 0 0 0 rg BT 217.58 345.25 Td (the ) Tj ET Q q 0 0 0 rg BT 232.11 345.25 Td ("Bonds" ) Tj ET Q q 0 0 0 rg BT 268.16 345.25 Td (or ) Tj ET Q q 0 0 0 rg BT 278.80 345.25 Td (the ) Tj ET Q q 0 0 0 rg BT 293.34 345.25 Td ("Norwegian ) Tj ET Q q 0 0 0 rg BT 344.17 345.25 Td (Bond ) Tj ET Q q 0 0 0 rg BT 368.15 345.25 Td (Debt"\), ) Tj ET Q q 0 0 0 rg BT 399.82 345.25 Td (pursuant ) Tj ET Q q 0 0 0 rg BT 436.57 345.25 Td (to ) Tj ET Q q 0 0 0 rg BT 446.67 345.25 Td (those ) Tj ET Q q 0 0 0 rg BT 470.10 345.25 Td (certain ) Tj ET Q q 0 0 0 rg BT 499.61 345.25 Td (bond ) Tj ET Q q 0 0 0 rg BT 521.93 345.25 Td (terms ) Tj ET Q q 0 0 0 rg BT 546.46 345.25 Td (\(the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 333.25 Td ("Bond ) Tj ET Q q 0 0 0 rg BT 78.47 333.25 Td (T) Tj ET Q q 0 0 0 rg BT 83.88 333.25 Td (erms"\), ) Tj ET Q q 0 0 0 rg BT 116.16 333.25 Td (dated ) Tj ET Q q 0 0 0 rg BT 140.74 333.25 Td (as ) Tj ET Q q 0 0 0 rg BT 152.00 333.25 Td (of ) Tj ET Q q 0 0 0 rg BT 163.25 333.25 Td (November ) Tj ET Q q 0 0 0 rg BT 208.39 333.25 Td (22, ) Tj ET Q q 0 0 0 rg BT 223.81 333.25 Td (2017, ) Tj ET Q q 0 0 0 rg BT 249.24 333.25 Td (by ) Tj ET Q q 0 0 0 rg BT 262.17 333.25 Td (and ) Tj ET Q q 0 0 0 rg BT 279.53 333.25 Td (between ) Tj ET Q q 0 0 0 rg BT 315.78 333.25 Td (the ) Tj ET Q q 0 0 0 rg BT 330.92 333.25 Td (Issuer ) Tj ET Q q 0 0 0 rg BT 357.73 333.25 Td (and ) Tj ET Q q 0 0 0 rg BT 375.10 333.25 Td (Nordic ) Tj ET Q q 0 0 0 rg BT 405.58 333.25 Td (T) Tj ET Q q 0 0 0 rg BT 411.34 333.25 Td (rustee ) Tj ET Q q 0 0 0 rg BT 437.50 333.25 Td (AS, ) Tj ET Q q 0 0 0 rg BT 455.71 333.25 Td (as ) Tj ET Q q 0 0 0 rg BT 466.96 333.25 Td (the ) Tj ET Q q 0 0 0 rg BT 482.11 333.25 Td (Bond ) Tj ET Q q 0 0 0 rg BT 506.49 333.25 Td (T) Tj ET Q q 0 0 0 rg BT 512.25 333.25 Td (rustee. ) Tj ET Q q 0 0 0 rg BT 540.91 333.25 Td (After ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 321.25 Td (giving ) Tj ET Q q 0 0 0 rg BT 77.82 321.25 Td (ef) Tj ET Q q 0 0 0 rg BT 85.41 321.25 Td (fect ) Tj ET Q q 0 0 0 rg BT 102.66 321.25 Td (to ) Tj ET Q q 0 0 0 rg BT 112.71 321.25 Td (an ) Tj ET Q q 0 0 0 rg BT 124.42 321.25 Td (original ) Tj ET Q q 0 0 0 rg BT 157.79 321.25 Td (issue ) Tj ET Q q 0 0 0 rg BT 180.05 321.25 Td (discount ) Tj ET Q q 0 0 0 rg BT 216.21 321.25 Td (of ) Tj ET Q q 0 0 0 rg BT 226.80 321.25 Td (approximately ) Tj ET Q q 0 0 0 rg BT 286.83 321.25 Td (1% ) Tj ET Q q 0 0 0 rg BT 302.43 321.25 Td (and ) Tj ET Q q 0 0 0 rg BT 319.13 321.25 Td (deducting ) Tj ET Q q 0 0 0 rg BT 360.83 321.25 Td (of) Tj ET Q q 0 0 0 rg BT 368.98 321.25 Td (fering ) Tj ET Q q 0 0 0 rg BT 395.13 321.25 Td (expenses ) Tj ET Q q 0 0 0 rg BT 433.49 321.25 Td (of ) Tj ET Q q 0 0 0 rg BT 444.09 321.25 Td ($3.1 ) Tj ET Q q 0 0 0 rg BT 463.86 321.25 Td (million, ) Tj ET Q q 0 0 0 rg BT 497.52 321.25 Td (the ) Tj ET Q q 0 0 0 rg BT 512.00 321.25 Td (net ) Tj ET Q q 0 0 0 rg BT 526.48 321.25 Td (proceeds ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 309.25 Td (from ) Tj ET Q q 0 0 0 rg BT 71.14 309.25 Td (the ) Tj ET Q q 0 0 0 rg BT 85.05 309.25 Td (issuance ) Tj ET Q q 0 0 0 rg BT 120.62 309.25 Td (of ) Tj ET Q q 0 0 0 rg BT 130.65 309.25 Td (the ) Tj ET Q q 0 0 0 rg BT 144.56 309.25 Td (Bonds ) Tj ET Q q 0 0 0 rg BT 171.82 309.25 Td (were ) Tj ET Q q 0 0 0 rg BT 192.95 309.25 Td (approximately ) Tj ET Q q 0 0 0 rg BT 252.40 309.25 Td ($195.0 ) Tj ET Q q 0 0 0 rg BT 281.60 309.25 Td (million. ) Tj ET Q q 0 0 0 rg BT 314.56 309.25 Td (These ) Tj ET Q q 0 0 0 rg BT 340.14 309.25 Td (net ) Tj ET Q q 0 0 0 rg BT 354.05 309.25 Td (proceeds ) Tj ET Q q 0 0 0 rg BT 391.29 309.25 Td (from ) Tj ET Q q 0 0 0 rg BT 412.42 309.25 Td (the ) Tj ET Q q 0 0 0 rg BT 426.33 309.25 Td (Bonds ) Tj ET Q q 0 0 0 rg BT 453.59 309.25 Td (were ) Tj ET Q q 0 0 0 rg BT 474.72 309.25 Td (used ) Tj ET Q q 0 0 0 rg BT 494.75 309.25 Td (to ) Tj ET Q q 0 0 0 rg BT 504.22 309.25 Td (repay ) Tj ET Q q 0 0 0 rg BT 528.12 309.25 Td (amounts ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 297.25 Td (outstanding ) Tj ET Q q 0 0 0 rg BT 99.27 297.25 Td (including ) Tj ET Q q 0 0 0 rg BT 139.66 297.25 Td (accrued ) Tj ET Q q 0 0 0 rg BT 173.35 297.25 Td (interest ) Tj ET Q q 0 0 0 rg BT 205.39 297.25 Td (under ) Tj ET Q q 0 0 0 rg BT 230.77 297.25 Td (various ) Tj ET Q q 0 0 0 rg BT 262.82 297.25 Td (debt ) Tj ET Q q 0 0 0 rg BT 282.64 297.25 Td (facilities ) Tj ET Q q 0 0 0 rg BT 319.68 297.25 Td (of ) Tj ET Q q 0 0 0 rg BT 330.62 297.25 Td (a ) Tj ET Q q 0 0 0 rg BT 337.67 297.25 Td (wholly-owned ) Tj ET Q q 0 0 0 rg BT 398.04 297.25 Td (subsidiary ) Tj ET Q q 0 0 0 rg BT 441.76 297.25 Td (of ) Tj ET Q q 0 0 0 rg BT 452.70 297.25 Td (the ) Tj ET Q q 0 0 0 rg BT 467.53 297.25 Td (Parent ) Tj ET Q q 0 0 0 rg BT 495.68 297.25 Td (Company ) Tj ET Q q 0 0 0 rg BT 537.18 297.25 Td (and ) Tj ET Q q 0 0 0 rg BT 554.22 297.25 Td (to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 285.25 Td (pay ) Tj ET Q q 0 0 0 rg BT 67.52 285.25 Td (expenses ) Tj ET Q q 0 0 0 rg BT 106.71 285.25 Td (associated ) Tj ET Q q 0 0 0 rg BT 150.89 285.25 Td (with ) Tj ET Q q 0 0 0 rg BT 171.75 285.25 Td (the ) Tj ET Q q 0 0 0 rg BT 187.05 285.25 Td (refinancing ) Tj ET Q q 0 0 0 rg BT 235.67 285.25 Td (transactions. ) Tj ET Q q 0 0 0 rg BT 289.02 285.25 Td (Shipco ) Tj ET Q q 0 0 0 rg BT 319.88 285.25 Td (incurred ) Tj ET Q q 0 0 0 rg BT 356.28 285.25 Td ($1.3 ) Tj ET Q q 0 0 0 rg BT 376.87 285.25 Td (million ) Tj ET Q q 0 0 0 rg BT 408.84 285.25 Td (in ) Tj ET Q q 0 0 0 rg BT 419.71 285.25 Td (other ) Tj ET Q q 0 0 0 rg BT 443.34 285.25 Td (financing ) Tj ET Q q 0 0 0 rg BT 484.19 285.25 Td (costs ) Tj ET Q q 0 0 0 rg BT 507.27 285.25 Td (in ) Tj ET Q q 0 0 0 rg BT 518.13 285.25 Td (connection ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 273.25 Td (with ) Tj ET Q q 0 0 0 rg BT 70.28 273.25 Td (the ) Tj ET Q q 0 0 0 rg BT 85.00 273.25 Td (transaction.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 92.00 249.25 Td (The ) Tj ET Q q 0 0 0 rg BT 110.24 249.25 Td (Norwegian ) Tj ET Q q 0 0 0 rg BT 157.36 249.25 Td (Bond ) Tj ET Q q 0 0 0 rg BT 181.72 249.25 Td (Debt ) Tj ET Q q 0 0 0 rg BT 203.86 249.25 Td (is ) Tj ET Q q 0 0 0 rg BT 213.22 249.25 Td (guaranteed ) Tj ET Q q 0 0 0 rg BT 259.77 249.25 Td (by ) Tj ET Q q 0 0 0 rg BT 272.47 249.25 Td (the ) Tj ET Q q 0 0 0 rg BT 287.38 249.25 Td (limited ) Tj ET Q q 0 0 0 rg BT 318.40 249.25 Td (liability ) Tj ET Q q 0 0 0 rg BT 352.20 249.25 Td (companies ) Tj ET Q q 0 0 0 rg BT 397.66 249.25 Td (that ) Tj ET Q q 0 0 0 rg BT 415.34 249.25 Td (are ) Tj ET Q q 0 0 0 rg BT 430.24 249.25 Td (subsidiaries ) Tj ET Q q 0 0 0 rg BT 480.15 249.25 Td (of ) Tj ET Q q 0 0 0 rg BT 491.18 249.25 Td (the ) Tj ET Q q 0 0 0 rg BT 506.09 249.25 Td (Issuer ) Tj ET Q q 0 0 0 rg BT 532.66 249.25 Td (and ) Tj ET Q q 0 0 0 rg BT 549.79 249.25 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 237.25 Td (legal ) Tj ET Q q 0 0 0 rg BT 72.04 237.25 Td (and ) Tj ET Q q 0 0 0 rg BT 89.08 237.25 Td (beneficial ) Tj ET Q q 0 0 0 rg BT 131.10 237.25 Td (owners ) Tj ET Q q 0 0 0 rg BT 162.58 237.25 Td (of ) Tj ET Q q 0 0 0 rg BT 173.52 237.25 Td (28 ) Tj ET Q q 0 0 0 rg BT 186.12 237.25 Td (security ) Tj ET Q q 0 0 0 rg BT 220.38 237.25 Td (vessels ) Tj ET Q q 0 0 0 rg BT 251.31 237.25 Td (\(the ) Tj ET Q q 0 0 0 rg BT 269.46 237.25 Td ("Shipco ) Tj ET Q q 0 0 0 rg BT 303.73 237.25 Td (V) Tj ET Q q 0 0 0 rg BT 309.85 237.25 Td (essels"\) ) Tj ET Q q 0 0 0 rg BT 343.19 237.25 Td (in ) Tj ET Q q 0 0 0 rg BT 353.57 237.25 Td (the ) Tj ET Q q 0 0 0 rg BT 368.39 237.25 Td (Company) Tj ET Q q 0 0 0 rg BT 410.06 237.25 Td (s ) Tj ET Q q 0 0 0 rg BT 416.55 237.25 Td (fleet, ) Tj ET Q q 0 0 0 rg BT 439.42 237.25 Td (and ) Tj ET Q q 0 0 0 rg BT 456.46 237.25 Td (was ) Tj ET Q q 0 0 0 rg BT 474.61 237.25 Td (secured ) Tj ET Q q 0 0 0 rg BT 507.75 237.25 Td (by ) Tj ET Q q 0 0 0 rg BT 520.35 237.25 Td (mortgages ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 225.25 Td (over ) Tj ET Q q 0 0 0 rg BT 70.56 225.25 Td (such ) Tj ET Q q 0 0 0 rg BT 91.68 225.25 Td (security ) Tj ET Q q 0 0 0 rg BT 126.13 225.25 Td (vessels, ) Tj ET Q q 0 0 0 rg BT 159.76 225.25 Td (a ) Tj ET Q q 0 0 0 rg BT 166.99 225.25 Td (pledge ) Tj ET Q q 0 0 0 rg BT 196.44 225.25 Td (granted ) Tj ET Q q 0 0 0 rg BT 229.21 225.25 Td (by ) Tj ET Q q 0 0 0 rg BT 242.01 225.25 Td (the ) Tj ET Q q 0 0 0 rg BT 257.02 225.25 Td (Company ) Tj ET Q q 0 0 0 rg BT 298.70 225.25 Td (over ) Tj ET Q q 0 0 0 rg BT 319.26 225.25 Td (all ) Tj ET Q q 0 0 0 rg BT 332.05 225.25 Td (of ) Tj ET Q q 0 0 0 rg BT 343.17 225.25 Td (the ) Tj ET Q q 0 0 0 rg BT 358.18 225.25 Td (shares ) Tj ET Q q 0 0 0 rg BT 385.96 225.25 Td (of ) Tj ET Q q 0 0 0 rg BT 397.08 225.25 Td (the ) Tj ET Q q 0 0 0 rg BT 412.09 225.25 Td (Issuer) Tj ET Q q 0 0 0 rg BT 435.58 225.25 Td (, ) Tj ET Q q 0 0 0 rg BT 440.87 225.25 Td (a ) Tj ET Q q 0 0 0 rg BT 448.10 225.25 Td (pledge ) Tj ET Q q 0 0 0 rg BT 477.55 225.25 Td (granted ) Tj ET Q q 0 0 0 rg BT 510.33 225.25 Td (by ) Tj ET Q q 0 0 0 rg BT 523.12 225.25 Td (the ) Tj ET Q q 0 0 0 rg BT 538.13 225.25 Td (Issuer ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 213.25 Td (over ) Tj ET Q q 0 0 0 rg BT 69.48 213.25 Td (all ) Tj ET Q q 0 0 0 rg BT 81.20 213.25 Td (the ) Tj ET Q q 0 0 0 rg BT 95.13 213.25 Td (shares ) Tj ET Q q 0 0 0 rg BT 121.84 213.25 Td (in ) Tj ET Q q 0 0 0 rg BT 131.33 213.25 Td (the ) Tj ET Q q 0 0 0 rg BT 145.14 213.25 Td (V) Tj ET Q q 0 0 0 rg BT 151.25 213.25 Td (essel ) Tj ET Q q 0 0 0 rg BT 172.41 213.25 Td (Owners, ) Tj ET Q q 0 0 0 rg BT 207.73 213.25 Td (certain ) Tj ET Q q 0 0 0 rg BT 236.65 213.25 Td (charter ) Tj ET Q q 0 0 0 rg BT 266.12 213.25 Td (contract ) Tj ET Q q 0 0 0 rg BT 300.03 213.25 Td (assignments, ) Tj ET Q q 0 0 0 rg BT 353.14 213.25 Td (certain ) Tj ET Q q 0 0 0 rg BT 382.06 213.25 Td (assignments ) Tj ET Q q 0 0 0 rg BT 432.66 213.25 Td (of ) Tj ET Q q 0 0 0 rg BT 442.71 213.25 Td (earnings, ) Tj ET Q q 0 0 0 rg BT 480.80 213.25 Td (a ) Tj ET Q q 0 0 0 rg BT 486.95 213.25 Td (pledge ) Tj ET Q q 0 0 0 rg BT 515.33 213.25 Td (over ) Tj ET Q q 0 0 0 rg BT 534.81 213.25 Td (certain ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 201.25 Td (accounts, ) Tj ET Q q 0 0 0 rg BT 89.25 201.25 Td (an ) Tj ET Q q 0 0 0 rg BT 100.46 201.25 Td (assignment ) Tj ET Q q 0 0 0 rg BT 147.22 201.25 Td (of ) Tj ET Q q 0 0 0 rg BT 157.32 201.25 Td (insurances ) Tj ET Q q 0 0 0 rg BT 201.29 201.25 Td (covering ) Tj ET Q q 0 0 0 rg BT 238.04 201.25 Td (security ) Tj ET Q q 0 0 0 rg BT 271.46 201.25 Td (vessels, ) Tj ET Q q 0 0 0 rg BT 304.06 201.25 Td (and ) Tj ET Q q 0 0 0 rg BT 320.26 201.25 Td (assignments ) Tj ET Q q 0 0 0 rg BT 370.92 201.25 Td (of ) Tj ET Q q 0 0 0 rg BT 381.01 201.25 Td (intra-group ) Tj ET Q q 0 0 0 rg BT 427.77 201.25 Td (debt ) Tj ET Q q 0 0 0 rg BT 446.75 201.25 Td (between ) Tj ET Q q 0 0 0 rg BT 481.83 201.25 Td (the ) Tj ET Q q 0 0 0 rg BT 495.82 201.25 Td (Parent ) Tj ET Q q 0 0 0 rg BT 523.13 201.25 Td (Company ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 189.25 Td (and ) Tj ET Q q 0 0 0 rg BT 66.94 189.25 Td (the ) Tj ET Q q 0 0 0 rg BT 81.66 189.25 Td (Issuer ) Tj ET Q q 0 0 0 rg BT 108.04 189.25 Td (or ) Tj ET Q q 0 0 0 rg BT 118.87 189.25 Td (its ) Tj ET Q q 0 0 0 rg BT 130.82 189.25 Td (subsidiaries.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 89.00 165.25 Td (Pursuant ) Tj ET Q q 0 0 0 rg BT 126.15 165.25 Td (to ) Tj ET Q q 0 0 0 rg BT 136.07 165.25 Td (the ) Tj ET Q q 0 0 0 rg BT 150.44 165.25 Td (Bond ) Tj ET Q q 0 0 0 rg BT 174.10 165.25 Td (T) Tj ET Q q 0 0 0 rg BT 179.51 165.25 Td (erms, ) Tj ET Q q 0 0 0 rg BT 203.60 165.25 Td (interest ) Tj ET Q q 0 0 0 rg BT 235.18 165.25 Td (on ) Tj ET Q q 0 0 0 rg BT 247.32 165.25 Td (the ) Tj ET Q q 0 0 0 rg BT 261.69 165.25 Td (Norwegian ) Tj ET Q q 0 0 0 rg BT 308.26 165.25 Td (Bonds ) Tj ET Q q 0 0 0 rg BT 335.97 165.25 Td (will ) Tj ET Q q 0 0 0 rg BT 353.68 165.25 Td (accrue ) Tj ET Q q 0 0 0 rg BT 381.91 165.25 Td (at ) Tj ET Q q 0 0 0 rg BT 391.27 165.25 Td (a ) Tj ET Q q 0 0 0 rg BT 397.86 165.25 Td (rate ) Tj ET Q q 0 0 0 rg BT 414.99 165.25 Td (of ) Tj ET Q q 0 0 0 rg BT 425.47 165.25 Td (8.250% ) Tj ET Q q 0 0 0 rg BT 458.45 165.25 Td (per ) Tj ET Q q 0 0 0 rg BT 473.36 165.25 Td (annum ) Tj ET Q q 0 0 0 rg BT 502.73 165.25 Td (on ) Tj ET Q q 0 0 0 rg BT 514.88 165.25 Td (the ) Tj ET Q q 0 0 0 rg BT 529.24 165.25 Td (nominal ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 153.25 Td (amount ) Tj ET Q q 0 0 0 rg BT 82.44 153.25 Td (of ) Tj ET Q q 0 0 0 rg BT 93.21 153.25 Td (each ) Tj ET Q q 0 0 0 rg BT 113.96 153.25 Td (of ) Tj ET Q q 0 0 0 rg BT 124.74 153.25 Td (the ) Tj ET Q q 0 0 0 rg BT 139.39 153.25 Td (Norwegian ) Tj ET Q q 0 0 0 rg BT 186.26 153.25 Td (Bonds ) Tj ET Q q 0 0 0 rg BT 214.27 153.25 Td (from ) Tj ET Q q 0 0 0 rg BT 236.15 153.25 Td (November ) Tj ET Q q 0 0 0 rg BT 280.80 153.25 Td (28, ) Tj ET Q q 0 0 0 rg BT 295.74 153.25 Td (2017, ) Tj ET Q q 0 0 0 rg BT 320.68 153.25 Td (payable ) Tj ET Q q 0 0 0 rg BT 354.21 153.25 Td (semi-annually ) Tj ET Q q 0 0 0 rg BT 413.31 153.25 Td (on ) Tj ET Q q 0 0 0 rg BT 425.75 153.25 Td (May ) Tj ET Q q 0 0 0 rg BT 446.52 153.25 Td (29 ) Tj ET Q q 0 0 0 rg BT 458.96 153.25 Td (and ) Tj ET Q q 0 0 0 rg BT 475.84 153.25 Td (November ) Tj ET Q q 0 0 0 rg BT 520.49 153.25 Td (29 ) Tj ET Q q 0 0 0 rg BT 532.93 153.25 Td (of ) Tj ET Q q 0 0 0 rg BT 543.70 153.25 Td (each ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 141.25 Td (year ) Tj ET Q q 0 0 0 rg BT 70.14 141.25 Td (\(each, ) Tj ET Q q 0 0 0 rg BT 97.22 141.25 Td (an ) Tj ET Q q 0 0 0 rg BT 109.59 141.25 Td (Interest ) Tj ET Q q 0 0 0 rg BT 146.94 141.25 Td (Payment ) Tj ET Q q 0 0 0 rg BT 184.87 141.25 Td (Date\), ) Tj ET Q q 0 0 0 rg BT 216.95 141.25 Td (commencing ) Tj ET Q q 0 0 0 rg BT 271.53 141.25 Td (May ) Tj ET Q q 0 0 0 rg BT 292.79 141.25 Td (29, ) Tj ET Q q 0 0 0 rg BT 308.23 141.25 Td (2018. ) Tj ET Q q 0 0 0 rg BT 333.45 141.25 Td (The ) Tj ET Q q 0 0 0 rg BT 351.92 141.25 Td (Bonds ) Tj ET Q q 0 0 0 rg BT 380.42 141.25 Td (will ) Tj ET Q q 0 0 0 rg BT 398.91 141.25 Td (mature ) Tj ET Q q 0 0 0 rg BT 429.60 141.25 Td (on ) Tj ET Q q 0 0 0 rg BT 442.53 141.25 Td (November ) Tj ET Q q 0 0 0 rg BT 487.67 141.25 Td (28, ) Tj ET Q q 0 0 0 rg BT 503.11 141.25 Td (2022. ) Tj ET Q q 0 0 0 rg BT 528.54 141.25 Td (On ) Tj ET Q q 0 0 0 rg BT 543.69 141.25 Td (each ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 129.25 Td (Interest ) Tj ET Q q 0 0 0 rg BT 83.24 129.25 Td (Payment ) Tj ET Q q 0 0 0 rg BT 121.48 129.25 Td (Date ) Tj ET Q q 0 0 0 rg BT 143.61 129.25 Td (from ) Tj ET Q q 0 0 0 rg BT 166.30 129.25 Td (and ) Tj ET Q q 0 0 0 rg BT 183.99 129.25 Td (including ) Tj ET Q q 0 0 0 rg BT 225.01 129.25 Td (November ) Tj ET Q q 0 0 0 rg BT 270.47 129.25 Td (29, ) Tj ET Q q 0 0 0 rg BT 286.22 129.25 Td (2018, ) Tj ET Q q 0 0 0 rg BT 311.97 129.25 Td (the ) Tj ET Q q 0 0 0 rg BT 327.44 129.25 Td (Issuer ) Tj ET Q q 0 0 0 rg BT 354.57 129.25 Td (must ) Tj ET Q q 0 0 0 rg BT 377.27 129.25 Td (repay ) Tj ET Q q 0 0 0 rg BT 402.73 129.25 Td (an ) Tj ET Q q 0 0 0 rg BT 415.42 129.25 Td (amount ) Tj ET Q q 0 0 0 rg BT 448.67 129.25 Td (of ) Tj ET Q q 0 0 0 rg BT 460.25 129.25 Td ($4,000,000, ) Tj ET Q q 0 0 0 rg BT 511.00 129.25 Td (plus ) Tj ET Q q 0 0 0 rg BT 530.92 129.25 Td (accrued ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 117.25 Td (interest ) Tj ET Q q 0 0 0 rg BT 82.17 117.25 Td (thereon. ) Tj ET Q q 0 0 0 rg BT 116.79 117.25 Td (Any ) Tj ET Q q 0 0 0 rg BT 136.75 117.25 Td (outstanding ) Tj ET Q q 0 0 0 rg BT 186.15 117.25 Td (Norwegian ) Tj ET Q q 0 0 0 rg BT 233.32 117.25 Td (Bonds ) Tj ET Q q 0 0 0 rg BT 261.62 117.25 Td (must ) Tj ET Q q 0 0 0 rg BT 283.81 117.25 Td (be ) Tj ET Q q 0 0 0 rg BT 295.98 117.25 Td (repaid ) Tj ET Q q 0 0 0 rg BT 323.71 117.25 Td (in ) Tj ET Q q 0 0 0 rg BT 334.22 117.25 Td (full ) Tj ET Q q 0 0 0 rg BT 350.85 117.25 Td (on ) Tj ET Q q 0 0 0 rg BT 363.59 117.25 Td (the ) Tj ET Q q 0 0 0 rg BT 378.54 117.25 Td (Maturity ) Tj ET Q q 0 0 0 rg BT 416.28 117.25 Td (Date ) Tj ET Q q 0 0 0 rg BT 437.89 117.25 Td (at ) Tj ET Q q 0 0 0 rg BT 447.85 117.25 Td (a ) Tj ET Q q 0 0 0 rg BT 455.02 117.25 Td (price ) Tj ET Q q 0 0 0 rg BT 477.75 117.25 Td (equal ) Tj ET Q q 0 0 0 rg BT 502.14 117.25 Td (to ) Tj ET Q q 0 0 0 rg BT 512.66 117.25 Td (100% ) Tj ET Q q 0 0 0 rg BT 538.73 117.25 Td (of ) Tj ET Q q 0 0 0 rg BT 549.79 117.25 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 105.25 Td (nominal ) Tj ET Q q 0 0 0 rg BT 85.27 105.25 Td (amount, ) Tj ET Q q 0 0 0 rg BT 120.27 105.25 Td (plus ) Tj ET Q q 0 0 0 rg BT 139.44 105.25 Td (accrued ) Tj ET Q q 0 0 0 rg BT 173.02 105.25 Td (interest ) Tj ET Q q 0 0 0 rg BT 204.96 105.25 Td (thereon.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 89.00 81.25 Td (The ) Tj ET Q q 0 0 0 rg BT 107.40 81.25 Td (Issuer ) Tj ET Q q 0 0 0 rg BT 134.13 81.25 Td (may ) Tj ET Q q 0 0 0 rg BT 154.20 81.25 Td (redeem ) Tj ET Q q 0 0 0 rg BT 186.48 81.25 Td (some ) Tj ET Q q 0 0 0 rg BT 210.44 81.25 Td (or ) Tj ET Q q 0 0 0 rg BT 221.62 81.25 Td (all ) Tj ET Q q 0 0 0 rg BT 234.46 81.25 Td (of ) Tj ET Q q 0 0 0 rg BT 245.65 81.25 Td (the ) Tj ET Q q 0 0 0 rg BT 260.71 81.25 Td (outstanding ) Tj ET Q q 0 0 0 rg BT 310.23 81.25 Td (Norwegian ) Tj ET Q q 0 0 0 rg BT 357.51 81.25 Td (Bonds ) Tj ET Q q 0 0 0 rg BT 385.92 81.25 Td (at ) Tj ET Q q 0 0 0 rg BT 395.99 81.25 Td (any ) Tj ET Q q 0 0 0 rg BT 413.28 81.25 Td (time ) Tj ET Q q 0 0 0 rg BT 433.91 81.25 Td (on ) Tj ET Q q 0 0 0 rg BT 446.76 81.25 Td (or ) Tj ET Q q 0 0 0 rg BT 457.94 81.25 Td (after ) Tj ET Q q 0 0 0 rg BT 479.11 81.25 Td (the ) Tj ET Q q 0 0 0 rg BT 494.18 81.25 Td (Interest ) Tj ET Q q 0 0 0 rg BT 527.01 81.25 Td (Payment ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 69.25 Td (Date ) Tj ET Q q 0 0 0 rg BT 71.24 69.25 Td (in ) Tj ET Q q 0 0 0 rg BT 81.37 69.25 Td (May ) Tj ET Q q 0 0 0 rg BT 102.06 69.25 Td (2020 ) Tj ET Q q 0 0 0 rg BT 124.42 69.25 Td (\(the ) Tj ET Q q 0 0 0 rg BT 142.32 69.25 Td (First ) Tj ET Q q 0 0 0 rg BT 167.46 69.25 Td (Call ) Tj ET Q q 0 0 0 rg BT 186.48 69.25 Td (Date\), ) Tj ET Q q 0 0 0 rg BT 217.99 69.25 Td (at ) Tj ET Q q 0 0 0 rg BT 227.56 69.25 Td (the ) Tj ET Q q 0 0 0 rg BT 242.14 69.25 Td (following ) Tj ET Q q 0 0 0 rg BT 283.38 69.25 Td (redemption ) Tj ET Q q 0 0 0 rg BT 331.28 69.25 Td (prices ) Tj ET Q q 0 0 0 rg BT 357.52 69.25 Td (\(expressed ) Tj ET Q q 0 0 0 rg BT 402.64 69.25 Td (as ) Tj ET Q q 0 0 0 rg BT 413.33 69.25 Td (a ) Tj ET Q q 0 0 0 rg BT 420.12 69.25 Td (percentage ) Tj ET Q q 0 0 0 rg BT 465.78 69.25 Td (of ) Tj ET Q q 0 0 0 rg BT 476.47 69.25 Td (the ) Tj ET Q q 0 0 0 rg BT 491.04 69.25 Td (nominal ) Tj ET Q q 0 0 0 rg BT 526.18 69.25 Td (amount\), ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 57.25 Td (plus ) Tj ET Q q 0 0 0 rg BT 69.17 57.25 Td (accrued ) Tj ET Q q 0 0 0 rg BT 102.75 57.25 Td (interest ) Tj ET Q q 0 0 0 rg BT 134.69 57.25 Td (on ) Tj ET Q q 0 0 0 rg BT 147.19 57.25 Td (the ) Tj ET Q q 0 0 0 rg BT 161.90 57.25 Td (redeemed ) Tj ET Q q 0 0 0 rg BT 203.27 57.25 Td (amount, ) Tj ET Q q 0 0 0 rg BT 238.26 57.25 Td (on ) Tj ET Q q 0 0 0 rg BT 250.76 57.25 Td (any ) Tj ET Q q 0 0 0 rg BT 267.70 57.25 Td (business ) Tj ET Q q 0 0 0 rg BT 304.09 57.25 Td (day ) Tj ET Q q 0 0 0 rg BT 321.03 57.25 Td (from ) Tj ET Q q 0 0 0 rg BT 342.97 57.25 Td (and ) Tj ET Q q 0 0 0 rg BT 359.91 57.25 Td (including:) Tj ET Q endstream endobj 25 0 obj <> endobj 26 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 19.60 Td ( ) Tj ET Q q 0 0 0 rg BT 86.00 19.60 Td ( ) Tj ET Q q 0 0 0 rg BT 122.00 19.60 Td ( ) Tj ET Q q 0 0 0 rg BT 158.00 19.60 Td ( ) Tj ET Q q 0 0 0 rg BT 194.00 19.60 Td ( ) Tj ET Q q 0 0 0 rg BT 230.00 19.60 Td ( ) Tj ET Q q 0 0 0 rg BT 266.00 19.60 Td ( ) Tj ET Q q 0 0 0 rg BT 302.00 19.60 Td (F-10) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 89.00 742.10 Td () Tj ET Q 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 108.5 693.6 m 392.5 693.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 396.5 693.6 m 502.5 693.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 108.5 693.6 m 392.5 693.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 396.5 693.6 m 502.5 693.6 l s BT /F1 8.00 Tf ET q 0 0 0 rg BT 111.00 723.55 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 111.00 711.55 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 395.00 711.55 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 399.00 711.55 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 111.00 698.17 Td (Period) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 395.00 698.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 399.00 698.17 Td (Redemption Price) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 111.00 684.17 Td (First Call Date to, but not including, the Interest Payment Date in) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 111.00 674.17 Td (November 2020) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 395.00 674.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 399.00 674.27 Td (104.125%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 111.00 660.17 Td (Interest Payment Date in November 2020 to but not including, the) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 111.00 650.17 Td (Interest Payment Date in May 2021) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 395.00 650.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 399.00 650.27 Td (103.3%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 111.00 636.17 Td (Interest Payment Date in May 2021 to, but not including, the Interest) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 111.00 626.17 Td (Payment Date in November 2021) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 395.00 626.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 399.00 626.27 Td (102.475%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 111.00 612.17 Td (Interest Payment Date in November 2021 to, but not including, the) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 111.00 602.17 Td (Interest Payment Date in May 2022) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 395.00 602.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 399.00 602.27 Td (101.65%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 111.00 588.17 Td (Interest Payment Date in May 2022 to, but not including, the) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 111.00 578.17 Td (Maturity Date) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 395.00 578.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 399.00 578.27 Td (100%) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 89.00 538.10 Td (Prior ) Tj ET Q q 0 0 0 rg BT 111.55 538.10 Td (to ) Tj ET Q q 0 0 0 rg BT 121.89 538.10 Td (the ) Tj ET Q q 0 0 0 rg BT 136.66 538.10 Td (First ) Tj ET Q q 0 0 0 rg BT 157.55 538.10 Td (Call ) Tj ET Q q 0 0 0 rg BT 176.77 538.10 Td (Date, ) Tj ET Q q 0 0 0 rg BT 200.70 538.10 Td (the ) Tj ET Q q 0 0 0 rg BT 215.47 538.10 Td (Issuer ) Tj ET Q q 0 0 0 rg BT 241.91 538.10 Td (may ) Tj ET Q q 0 0 0 rg BT 261.68 538.10 Td (redeem ) Tj ET Q q 0 0 0 rg BT 293.65 538.10 Td (some ) Tj ET Q q 0 0 0 rg BT 317.32 538.10 Td (or ) Tj ET Q q 0 0 0 rg BT 328.20 538.10 Td (all ) Tj ET Q q 0 0 0 rg BT 340.75 538.10 Td (of ) Tj ET Q q 0 0 0 rg BT 351.63 538.10 Td (the ) Tj ET Q q 0 0 0 rg BT 366.40 538.10 Td (outstanding ) Tj ET Q q 0 0 0 rg BT 415.62 538.10 Td (Norwegian ) Tj ET Q q 0 0 0 rg BT 462.60 538.10 Td (Bonds ) Tj ET Q q 0 0 0 rg BT 490.72 538.10 Td (at ) Tj ET Q q 0 0 0 rg BT 500.49 538.10 Td (a ) Tj ET Q q 0 0 0 rg BT 507.48 538.10 Td (price ) Tj ET Q q 0 0 0 rg BT 530.02 538.10 Td (equal ) Tj ET Q q 0 0 0 rg BT 554.23 538.10 Td (to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 526.10 Td (100% ) Tj ET Q q 0 0 0 rg BT 76.63 526.10 Td (of ) Tj ET Q q 0 0 0 rg BT 88.26 526.10 Td (the ) Tj ET Q q 0 0 0 rg BT 103.78 526.10 Td (nominal ) Tj ET Q q 0 0 0 rg BT 139.85 526.10 Td (amount ) Tj ET Q q 0 0 0 rg BT 173.15 526.10 Td (of ) Tj ET Q q 0 0 0 rg BT 184.78 526.10 Td (the ) Tj ET Q q 0 0 0 rg BT 200.30 526.10 Td (Norwegian ) Tj ET Q q 0 0 0 rg BT 248.03 526.10 Td (Bonds ) Tj ET Q q 0 0 0 rg BT 276.89 526.10 Td (plus ) Tj ET Q q 0 0 0 rg BT 296.86 526.10 Td (a ) Tj ET Q q 0 0 0 rg BT 304.60 526.10 Td (make-whole ) Tj ET Q q 0 0 0 rg BT 366.20 526.10 Td (premium ) Tj ET Q q 0 0 0 rg BT 405.61 526.10 Td (and ) Tj ET Q q 0 0 0 rg BT 423.34 526.10 Td (accrued ) Tj ET Q q 0 0 0 rg BT 457.73 526.10 Td (and ) Tj ET Q q 0 0 0 rg BT 475.47 526.10 Td (unpaid ) Tj ET Q q 0 0 0 rg BT 505.99 526.10 Td (interest ) Tj ET Q q 0 0 0 rg BT 538.72 526.10 Td (to ) Tj ET Q q 0 0 0 rg BT 549.80 526.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 514.10 Td (redemption ) Tj ET Q q 0 0 0 rg BT 98.04 514.10 Td (date.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 92.00 502.10 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 92.00 490.10 Td (If ) Tj ET Q q 0 0 0 rg BT 101.81 490.10 Td (the ) Tj ET Q q 0 0 0 rg BT 117.18 490.10 Td (Parent ) Tj ET Q q 0 0 0 rg BT 145.88 490.10 Td (Company ) Tj ET Q q 0 0 0 rg BT 187.92 490.10 Td (experiences ) Tj ET Q q 0 0 0 rg BT 238.26 490.10 Td (a ) Tj ET Q q 0 0 0 rg BT 245.85 490.10 Td (change ) Tj ET Q q 0 0 0 rg BT 277.32 490.10 Td (of ) Tj ET Q q 0 0 0 rg BT 288.80 490.10 Td (control, ) Tj ET Q q 0 0 0 rg BT 322.78 490.10 Td (each ) Tj ET Q q 0 0 0 rg BT 344.25 490.10 Td (holder ) Tj ET Q q 0 0 0 rg BT 372.94 490.10 Td (of ) Tj ET Q q 0 0 0 rg BT 384.43 490.10 Td (the ) Tj ET Q q 0 0 0 rg BT 399.80 490.10 Td (Norwegian ) Tj ET Q q 0 0 0 rg BT 447.38 490.10 Td (Bonds ) Tj ET Q q 0 0 0 rg BT 476.09 490.10 Td (will ) Tj ET Q q 0 0 0 rg BT 494.80 490.10 Td (have ) Tj ET Q q 0 0 0 rg BT 516.83 490.10 Td (the ) Tj ET Q q 0 0 0 rg BT 532.20 490.10 Td (right ) Tj ET Q q 0 0 0 rg BT 554.23 490.10 Td (to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 478.10 Td (require ) Tj ET Q q 0 0 0 rg BT 80.74 478.10 Td (that ) Tj ET Q q 0 0 0 rg BT 98.17 478.10 Td (the ) Tj ET Q q 0 0 0 rg BT 112.81 478.10 Td (Issuer ) Tj ET Q q 0 0 0 rg BT 139.12 478.10 Td (purchase ) Tj ET Q q 0 0 0 rg BT 177.09 478.10 Td (all ) Tj ET Q q 0 0 0 rg BT 189.51 478.10 Td (or ) Tj ET Q q 0 0 0 rg BT 200.27 478.10 Td (some ) Tj ET Q q 0 0 0 rg BT 223.81 478.10 Td (of ) Tj ET Q q 0 0 0 rg BT 234.56 478.10 Td (the ) Tj ET Q q 0 0 0 rg BT 249.21 478.10 Td (Norwegian ) Tj ET Q q 0 0 0 rg BT 296.07 478.10 Td (Bonds ) Tj ET Q q 0 0 0 rg BT 324.06 478.10 Td (held ) Tj ET Q q 0 0 0 rg BT 343.70 478.10 Td (by ) Tj ET Q q 0 0 0 rg BT 356.13 478.10 Td (such ) Tj ET Q q 0 0 0 rg BT 376.89 478.10 Td (holder ) Tj ET Q q 0 0 0 rg BT 404.86 478.10 Td (at ) Tj ET Q q 0 0 0 rg BT 414.51 478.10 Td (a ) Tj ET Q q 0 0 0 rg BT 421.37 478.10 Td (price ) Tj ET Q q 0 0 0 rg BT 443.79 478.10 Td (equal ) Tj ET Q q 0 0 0 rg BT 467.87 478.10 Td (to ) Tj ET Q q 0 0 0 rg BT 478.08 478.10 Td (101% ) Tj ET Q q 0 0 0 rg BT 503.84 478.10 Td (of ) Tj ET Q q 0 0 0 rg BT 514.59 478.10 Td (the ) Tj ET Q q 0 0 0 rg BT 529.24 478.10 Td (nominal ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 466.10 Td (amount, ) Tj ET Q q 0 0 0 rg BT 85.00 466.10 Td (plus ) Tj ET Q q 0 0 0 rg BT 104.17 466.10 Td (accrued ) Tj ET Q q 0 0 0 rg BT 137.75 466.10 Td (interest.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 89.00 442.10 Td (The ) Tj ET Q q 0 0 0 rg BT 107.22 442.10 Td (Bond ) Tj ET Q q 0 0 0 rg BT 131.36 442.10 Td (T) Tj ET Q q 0 0 0 rg BT 136.77 442.10 Td (erms ) Tj ET Q q 0 0 0 rg BT 158.88 442.10 Td (contain ) Tj ET Q q 0 0 0 rg BT 190.98 442.10 Td (certain ) Tj ET Q q 0 0 0 rg BT 220.85 442.10 Td (financial ) Tj ET Q q 0 0 0 rg BT 258.50 442.10 Td (covenants ) Tj ET Q q 0 0 0 rg BT 301.15 442.10 Td (that ) Tj ET Q q 0 0 0 rg BT 318.82 442.10 Td (the ) Tj ET Q q 0 0 0 rg BT 333.70 442.10 Td (Issuer) Tj ET Q q 0 0 0 rg BT 357.96 442.10 Td () Tj ET Q q 0 0 0 rg BT 360.73 442.10 Td (s ) Tj ET Q q 0 0 0 rg BT 367.29 442.10 Td (leverage ) Tj ET Q q 0 0 0 rg BT 403.82 442.10 Td (ratio ) Tj ET Q q 0 0 0 rg BT 424.82 442.10 Td (defined ) Tj ET Q q 0 0 0 rg BT 457.47 442.10 Td (as ) Tj ET Q q 0 0 0 rg BT 468.47 442.10 Td (the ) Tj ET Q q 0 0 0 rg BT 483.36 442.10 Td (ratio ) Tj ET Q q 0 0 0 rg BT 504.35 442.10 Td (of ) Tj ET Q q 0 0 0 rg BT 515.35 442.10 Td (outstanding ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 430.10 Td (bond ) Tj ET Q q 0 0 0 rg BT 72.36 430.10 Td (amount ) Tj ET Q q 0 0 0 rg BT 104.72 430.10 Td (and ) Tj ET Q q 0 0 0 rg BT 121.53 430.10 Td (any ) Tj ET Q q 0 0 0 rg BT 138.33 430.10 Td (drawn ) Tj ET Q q 0 0 0 rg BT 165.69 430.10 Td (amounts ) Tj ET Q q 0 0 0 rg BT 201.94 430.10 Td (under ) Tj ET Q q 0 0 0 rg BT 227.07 430.10 Td (the ) Tj ET Q q 0 0 0 rg BT 241.65 430.10 Td (Super ) Tj ET Q q 0 0 0 rg BT 267.35 430.10 Td (Senior ) Tj ET Q q 0 0 0 rg BT 295.82 430.10 Td (Facility ) Tj ET Q q 0 0 0 rg BT 328.74 430.10 Td (less ) Tj ET Q q 0 0 0 rg BT 346.10 430.10 Td (consolidated ) Tj ET Q q 0 0 0 rg BT 399.01 430.10 Td (cash ) Tj ET Q q 0 0 0 rg BT 419.14 430.10 Td (balance ) Tj ET Q q 0 0 0 rg BT 452.04 430.10 Td (to ) Tj ET Q q 0 0 0 rg BT 462.18 430.10 Td (the ) Tj ET Q q 0 0 0 rg BT 476.76 430.10 Td (aggregate ) Tj ET Q q 0 0 0 rg BT 517.99 430.10 Td (book ) Tj ET Q q 0 0 0 rg BT 540.35 430.10 Td (value ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 418.10 Td (of ) Tj ET Q q 0 0 0 rg BT 60.42 418.10 Td (the ) Tj ET Q q 0 0 0 rg BT 74.72 418.10 Td (27 ) Tj ET Q q 0 0 0 rg BT 86.81 418.10 Td (vessels ) Tj ET Q q 0 0 0 rg BT 117.22 418.10 Td (in ) Tj ET Q q 0 0 0 rg BT 127.09 418.10 Td (the ) Tj ET Q q 0 0 0 rg BT 141.39 418.10 Td (Company's ) Tj ET Q q 0 0 0 rg BT 188.06 418.10 Td (fleet ) Tj ET Q q 0 0 0 rg BT 207.91 418.10 Td (must ) Tj ET Q q 0 0 0 rg BT 229.44 418.10 Td (not ) Tj ET Q q 0 0 0 rg BT 244.31 418.10 Td (exceed ) Tj ET Q q 0 0 0 rg BT 274.15 418.10 Td (75% ) Tj ET Q q 0 0 0 rg BT 294.56 418.10 Td (and ) Tj ET Q q 0 0 0 rg BT 311.09 418.10 Td (its ) Tj ET Q q 0 0 0 rg BT 322.62 418.10 Td (and ) Tj ET Q q 0 0 0 rg BT 339.15 418.10 Td (its ) Tj ET Q q 0 0 0 rg BT 350.68 418.10 Td (subsidiaries) Tj ET Q q 0 0 0 rg BT 400.49 418.10 Td ( ) Tj ET Q q 0 0 0 rg BT 402.57 418.10 Td (free ) Tj ET Q q 0 0 0 rg BT 420.20 418.10 Td (liquidity ) Tj ET Q q 0 0 0 rg BT 456.18 418.10 Td (must ) Tj ET Q q 0 0 0 rg BT 477.71 418.10 Td (at ) Tj ET Q q 0 0 0 rg BT 487.01 418.10 Td (all ) Tj ET Q q 0 0 0 rg BT 499.09 418.10 Td (times ) Tj ET Q q 0 0 0 rg BT 522.85 418.10 Td (be ) Tj ET Q q 0 0 0 rg BT 534.37 418.10 Td (at ) Tj ET Q q 0 0 0 rg BT 543.67 418.10 Td (least ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 406.10 Td ($12,500,000. ) Tj ET Q q 0 0 0 rg BT 104.82 406.10 Td (The ) Tj ET Q q 0 0 0 rg BT 122.87 406.10 Td (Company ) Tj ET Q q 0 0 0 rg BT 164.25 406.10 Td (is ) Tj ET Q q 0 0 0 rg BT 173.42 406.10 Td (in ) Tj ET Q q 0 0 0 rg BT 183.70 406.10 Td (compliance ) Tj ET Q q 0 0 0 rg BT 232.29 406.10 Td (with ) Tj ET Q q 0 0 0 rg BT 252.57 406.10 Td (its ) Tj ET Q q 0 0 0 rg BT 264.52 406.10 Td (financial ) Tj ET Q q 0 0 0 rg BT 302.00 406.10 Td (covenants ) Tj ET Q q 0 0 0 rg BT 344.48 406.10 Td (as ) Tj ET Q q 0 0 0 rg BT 355.31 406.10 Td (of ) Tj ET Q q 0 0 0 rg BT 366.14 406.10 Td (September ) Tj ET Q q 0 0 0 rg BT 411.41 406.10 Td (30, ) Tj ET Q q 0 0 0 rg BT 426.41 406.10 Td (2018.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 89.00 382.10 Td (The ) Tj ET Q q 0 0 0 rg BT 106.71 382.10 Td (Bond ) Tj ET Q q 0 0 0 rg BT 130.39 382.10 Td (T) Tj ET Q q 0 0 0 rg BT 135.80 382.10 Td (erms ) Tj ET Q q 0 0 0 rg BT 157.41 382.10 Td (also ) Tj ET Q q 0 0 0 rg BT 175.68 382.10 Td (contain ) Tj ET Q q 0 0 0 rg BT 207.28 382.10 Td (certain ) Tj ET Q q 0 0 0 rg BT 236.65 382.10 Td (events ) Tj ET Q q 0 0 0 rg BT 264.36 382.10 Td (of ) Tj ET Q q 0 0 0 rg BT 274.85 382.10 Td (default ) Tj ET Q q 0 0 0 rg BT 304.78 382.10 Td (customary ) Tj ET Q q 0 0 0 rg BT 348.60 382.10 Td (for ) Tj ET Q q 0 0 0 rg BT 362.43 382.10 Td (transactions ) Tj ET Q q 0 0 0 rg BT 412.36 382.10 Td (of ) Tj ET Q q 0 0 0 rg BT 422.85 382.10 Td (this ) Tj ET Q q 0 0 0 rg BT 439.47 382.10 Td (type, ) Tj ET Q q 0 0 0 rg BT 461.35 382.10 Td (including, ) Tj ET Q q 0 0 0 rg BT 503.79 382.10 Td (but ) Tj ET Q q 0 0 0 rg BT 518.73 382.10 Td (not ) Tj ET Q q 0 0 0 rg BT 533.68 382.10 Td (limited ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 370.10 Td (to, ) Tj ET Q q 0 0 0 rg BT 62.30 370.10 Td (those ) Tj ET Q q 0 0 0 rg BT 85.42 370.10 Td (relating ) Tj ET Q q 0 0 0 rg BT 117.99 370.10 Td (to: ) Tj ET Q q 0 0 0 rg BT 130.56 370.10 Td (a ) Tj ET Q q 0 0 0 rg BT 137.02 370.10 Td (failure ) Tj ET Q q 0 0 0 rg BT 165.13 370.10 Td (to ) Tj ET Q q 0 0 0 rg BT 174.93 370.10 Td (pay ) Tj ET Q q 0 0 0 rg BT 191.39 370.10 Td (principal ) Tj ET Q q 0 0 0 rg BT 228.95 370.10 Td (or ) Tj ET Q q 0 0 0 rg BT 239.30 370.10 Td (interest; ) Tj ET Q q 0 0 0 rg BT 273.53 370.10 Td (a ) Tj ET Q q 0 0 0 rg BT 279.99 370.10 Td (breach ) Tj ET Q q 0 0 0 rg BT 308.65 370.10 Td (of ) Tj ET Q q 0 0 0 rg BT 319.00 370.10 Td (covenants, ) Tj ET Q q 0 0 0 rg BT 363.50 370.10 Td (representation ) Tj ET Q q 0 0 0 rg BT 422.16 370.10 Td (or ) Tj ET Q q 0 0 0 rg BT 432.51 370.10 Td (warranty; ) Tj ET Q q 0 0 0 rg BT 472.85 370.10 Td (a ) Tj ET Q q 0 0 0 rg BT 479.30 370.10 Td (cross ) Tj ET Q q 0 0 0 rg BT 501.88 370.10 Td (default ) Tj ET Q q 0 0 0 rg BT 531.66 370.10 Td (to ) Tj ET Q q 0 0 0 rg BT 541.46 370.10 Td (other ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 358.10 Td (indebtedness; ) Tj ET Q q 0 0 0 rg BT 106.84 358.10 Td (the ) Tj ET Q q 0 0 0 rg BT 121.46 358.10 Td (occurrence ) Tj ET Q q 0 0 0 rg BT 167.71 358.10 Td (of ) Tj ET Q q 0 0 0 rg BT 178.45 358.10 Td (certain ) Tj ET Q q 0 0 0 rg BT 208.05 358.10 Td (bankruptcy ) Tj ET Q q 0 0 0 rg BT 255.44 358.10 Td (and ) Tj ET Q q 0 0 0 rg BT 272.29 358.10 Td (insolvency ) Tj ET Q q 0 0 0 rg BT 318.01 358.10 Td (events; ) Tj ET Q q 0 0 0 rg BT 348.74 358.10 Td (and ) Tj ET Q q 0 0 0 rg BT 365.59 358.10 Td (the ) Tj ET Q q 0 0 0 rg BT 380.21 358.10 Td (impossibility ) Tj ET Q q 0 0 0 rg BT 434.84 358.10 Td (or ) Tj ET Q q 0 0 0 rg BT 445.58 358.10 Td (unlawfulness ) Tj ET Q q 0 0 0 rg BT 500.75 358.10 Td (of ) Tj ET Q q 0 0 0 rg BT 511.48 358.10 Td (performance ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 346.10 Td (of ) Tj ET Q q 0 0 0 rg BT 60.83 346.10 Td (the ) Tj ET Q q 0 0 0 rg BT 75.55 346.10 Td (finance ) Tj ET Q q 0 0 0 rg BT 107.47 346.10 Td (documents.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 322.10 Td ( ) Tj ET Q q 0 0 0 rg BT 86.00 322.10 Td (On ) Tj ET Q q 0 0 0 rg BT 100.73 322.10 Td (March ) Tj ET Q q 0 0 0 rg BT 129.34 322.10 Td (23, ) Tj ET Q q 0 0 0 rg BT 144.35 322.10 Td (2018, ) Tj ET Q q 0 0 0 rg BT 169.36 322.10 Td (the ) Tj ET Q q 0 0 0 rg BT 184.09 322.10 Td (Company ) Tj ET Q q 0 0 0 rg BT 225.48 322.10 Td (signed ) Tj ET Q q 0 0 0 rg BT 254.10 322.10 Td (a ) Tj ET Q q 0 0 0 rg BT 261.05 322.10 Td (memorandum ) Tj ET Q q 0 0 0 rg BT 319.10 322.10 Td (of ) Tj ET Q q 0 0 0 rg BT 329.94 322.10 Td (agreement ) Tj ET Q q 0 0 0 rg BT 374.09 322.10 Td (to ) Tj ET Q q 0 0 0 rg BT 384.38 322.10 Td (sell ) Tj ET Q q 0 0 0 rg BT 400.78 322.10 Td (the ) Tj ET Q q 0 0 0 rg BT 415.50 322.10 Td (vessel ) Tj ET Q q 0 0 0 rg BT 442.27 322.10 Td (Thrush ) Tj ET Q q 0 0 0 rg BT 473.11 322.10 Td (for ) Tj ET Q q 0 0 0 rg BT 487.28 322.10 Td ($10.8 ) Tj ET Q q 0 0 0 rg BT 512.29 322.10 Td (million ) Tj ET Q q 0 0 0 rg BT 543.69 322.10 Td (after ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 310.10 Td (brokerage ) Tj ET Q q 0 0 0 rg BT 92.77 310.10 Td (commissions ) Tj ET Q q 0 0 0 rg BT 147.79 310.10 Td (and ) Tj ET Q q 0 0 0 rg BT 165.02 310.10 Td (associated ) Tj ET Q q 0 0 0 rg BT 208.90 310.10 Td (selling ) Tj ET Q q 0 0 0 rg BT 238.36 310.10 Td (expenses. ) Tj ET Q q 0 0 0 rg BT 279.75 310.10 Td (Pursuant ) Tj ET Q q 0 0 0 rg BT 317.54 310.10 Td (to ) Tj ET Q q 0 0 0 rg BT 328.11 310.10 Td (the ) Tj ET Q q 0 0 0 rg BT 343.12 310.10 Td (Bond ) Tj ET Q q 0 0 0 rg BT 367.38 310.10 Td (T) Tj ET Q q 0 0 0 rg BT 372.79 310.10 Td (erms ) Tj ET Q q 0 0 0 rg BT 395.02 310.10 Td (governing ) Tj ET Q q 0 0 0 rg BT 438.36 310.10 Td (the ) Tj ET Q q 0 0 0 rg BT 453.37 310.10 Td (Norwegian ) Tj ET Q q 0 0 0 rg BT 500.59 310.10 Td (Bond ) Tj ET Q q 0 0 0 rg BT 525.05 310.10 Td (Debt, ) Tj ET Q q 0 0 0 rg BT 549.78 310.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 298.10 Td (proceeds ) Tj ET Q q 0 0 0 rg BT 87.85 298.10 Td (from ) Tj ET Q q 0 0 0 rg BT 109.60 298.10 Td (the ) Tj ET Q q 0 0 0 rg BT 124.13 298.10 Td (sale ) Tj ET Q q 0 0 0 rg BT 141.99 298.10 Td (of ) Tj ET Q q 0 0 0 rg BT 152.64 298.10 Td (vessels ) Tj ET Q q 0 0 0 rg BT 183.28 298.10 Td (are ) Tj ET Q q 0 0 0 rg BT 197.80 298.10 Td (to ) Tj ET Q q 0 0 0 rg BT 207.89 298.10 Td (be ) Tj ET Q q 0 0 0 rg BT 219.64 298.10 Td (held ) Tj ET Q q 0 0 0 rg BT 239.17 298.10 Td (in ) Tj ET Q q 0 0 0 rg BT 249.27 298.10 Td (a ) Tj ET Q q 0 0 0 rg BT 256.02 298.10 Td (restricted ) Tj ET Q q 0 0 0 rg BT 295.53 298.10 Td (account ) Tj ET Q q 0 0 0 rg BT 328.94 298.10 Td (to ) Tj ET Q q 0 0 0 rg BT 339.03 298.10 Td (be ) Tj ET Q q 0 0 0 rg BT 350.79 298.10 Td (used ) Tj ET Q q 0 0 0 rg BT 371.43 298.10 Td (for ) Tj ET Q q 0 0 0 rg BT 385.40 298.10 Td (the ) Tj ET Q q 0 0 0 rg BT 399.93 298.10 Td (financing ) Tj ET Q q 0 0 0 rg BT 440.01 298.10 Td (of ) Tj ET Q q 0 0 0 rg BT 450.65 298.10 Td (the ) Tj ET Q q 0 0 0 rg BT 465.18 298.10 Td (acquisition ) Tj ET Q q 0 0 0 rg BT 511.38 298.10 Td (of ) Tj ET Q q 0 0 0 rg BT 522.02 298.10 Td (additional ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 286.10 Td (vessels ) Tj ET Q q 0 0 0 rg BT 80.67 286.10 Td (by ) Tj ET Q q 0 0 0 rg BT 93.01 286.10 Td (Shipco. ) Tj ET Q q 0 0 0 rg BT 125.11 286.10 Td (As ) Tj ET Q q 0 0 0 rg BT 138.56 286.10 Td (a ) Tj ET Q q 0 0 0 rg BT 145.34 286.10 Td (result, ) Tj ET Q q 0 0 0 rg BT 172.39 286.10 Td (the ) Tj ET Q q 0 0 0 rg BT 186.95 286.10 Td (Company ) Tj ET Q q 0 0 0 rg BT 228.18 286.10 Td (recorded ) Tj ET Q q 0 0 0 rg BT 265.49 286.10 Td (the ) Tj ET Q q 0 0 0 rg BT 280.05 286.10 Td (proceeds ) Tj ET Q q 0 0 0 rg BT 317.92 286.10 Td (of ) Tj ET Q q 0 0 0 rg BT 328.59 286.10 Td (the ) Tj ET Q q 0 0 0 rg BT 343.15 286.10 Td (sale ) Tj ET Q q 0 0 0 rg BT 361.03 286.10 Td (of ) Tj ET Q q 0 0 0 rg BT 371.53 286.10 Td (Thrush ) Tj ET Q q 0 0 0 rg BT 402.20 286.10 Td (as ) Tj ET Q q 0 0 0 rg BT 412.87 286.10 Td (restricted ) Tj ET Q q 0 0 0 rg BT 452.41 286.10 Td (cash ) Tj ET Q q 0 0 0 rg BT 472.52 286.10 Td (at ) Tj ET Q q 0 0 0 rg BT 482.07 286.10 Td (September ) Tj ET Q q 0 0 0 rg BT 527.18 286.10 Td (30, ) Tj ET Q q 0 0 0 rg BT 542.02 286.10 Td (2018 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 274.10 Td (in ) Tj ET Q q 0 0 0 rg BT 60.28 274.10 Td (the ) Tj ET Q q 0 0 0 rg BT 75.00 274.10 Td (condensed ) Tj ET Q q 0 0 0 rg BT 119.70 274.10 Td (consolidated ) Tj ET Q q 0 0 0 rg BT 172.74 274.10 Td (financial ) Tj ET Q q 0 0 0 rg BT 210.22 274.10 Td (statements. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 250.10 Td ( ) Tj ET Q q 0 0 0 rg BT 86.00 250.10 Td (The ) Tj ET Q q 0 0 0 rg BT 103.79 250.10 Td (Bond ) Tj ET Q q 0 0 0 rg BT 127.54 250.10 Td (T) Tj ET Q q 0 0 0 rg BT 132.95 250.10 Td (erms ) Tj ET Q q 0 0 0 rg BT 154.63 250.10 Td (also ) Tj ET Q q 0 0 0 rg BT 172.98 250.10 Td (contain ) Tj ET Q q 0 0 0 rg BT 204.65 250.10 Td (certain ) Tj ET Q q 0 0 0 rg BT 234.09 250.10 Td (exceptions ) Tj ET Q q 0 0 0 rg BT 279.10 250.10 Td (and ) Tj ET Q q 0 0 0 rg BT 295.78 250.10 Td (qualifications, ) Tj ET Q q 0 0 0 rg BT 354.95 250.10 Td (among ) Tj ET Q q 0 0 0 rg BT 384.41 250.10 Td (other ) Tj ET Q q 0 0 0 rg BT 407.20 250.10 Td (things, ) Tj ET Q q 0 0 0 rg BT 436.38 250.10 Td (limit ) Tj ET Q q 0 0 0 rg BT 457.52 250.10 Td (the ) Tj ET Q q 0 0 0 rg BT 471.98 250.10 Td (Parent ) Tj ET Q q 0 0 0 rg BT 499.76 250.10 Td (Company) Tj ET Q q 0 0 0 rg BT 541.43 250.10 Td (s ) Tj ET Q q 0 0 0 rg BT 547.56 250.10 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 238.10 Td (the ) Tj ET Q q 0 0 0 rg BT 64.61 238.10 Td (Issuer) Tj ET Q q 0 0 0 rg BT 88.86 238.10 Td () Tj ET Q q 0 0 0 rg BT 91.64 238.10 Td (s ) Tj ET Q q 0 0 0 rg BT 97.92 238.10 Td (ability ) Tj ET Q q 0 0 0 rg BT 125.86 238.10 Td (and ) Tj ET Q q 0 0 0 rg BT 142.69 238.10 Td (the ) Tj ET Q q 0 0 0 rg BT 157.29 238.10 Td (ability ) Tj ET Q q 0 0 0 rg BT 185.23 238.10 Td (of ) Tj ET Q q 0 0 0 rg BT 195.95 238.10 Td (the ) Tj ET Q q 0 0 0 rg BT 210.56 238.10 Td (Issuer) Tj ET Q q 0 0 0 rg BT 234.81 238.10 Td () Tj ET Q q 0 0 0 rg BT 237.59 238.10 Td (s ) Tj ET Q q 0 0 0 rg BT 243.87 238.10 Td (subsidiaries ) Tj ET Q q 0 0 0 rg BT 293.48 238.10 Td (to ) Tj ET Q q 0 0 0 rg BT 303.64 238.10 Td (do ) Tj ET Q q 0 0 0 rg BT 316.03 238.10 Td (the ) Tj ET Q q 0 0 0 rg BT 330.64 238.10 Td (following: ) Tj ET Q q 0 0 0 rg BT 374.69 238.10 Td (make ) Tj ET Q q 0 0 0 rg BT 398.74 238.10 Td (distributions; ) Tj ET Q q 0 0 0 rg BT 453.91 238.10 Td (carry ) Tj ET Q q 0 0 0 rg BT 476.84 238.10 Td (out ) Tj ET Q q 0 0 0 rg BT 492.00 238.10 Td (any ) Tj ET Q q 0 0 0 rg BT 508.83 238.10 Td (mer) Tj ET Q q 0 0 0 rg BT 524.20 238.10 Td (ger) Tj ET Q q 0 0 0 rg BT 536.57 238.10 Td (, ) Tj ET Q q 0 0 0 rg BT 541.46 238.10 Td (other ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 226.10 Td (business ) Tj ET Q q 0 0 0 rg BT 86.78 226.10 Td (combination, ) Tj ET Q q 0 0 0 rg BT 142.17 226.10 Td (demer) Tj ET Q q 0 0 0 rg BT 166.97 226.10 Td (ger ) Tj ET Q q 0 0 0 rg BT 182.63 226.10 Td (or ) Tj ET Q q 0 0 0 rg BT 193.86 226.10 Td (corporate ) Tj ET Q q 0 0 0 rg BT 234.50 226.10 Td (reor) Tj ET Q q 0 0 0 rg BT 250.42 226.10 Td (ganization; ) Tj ET Q q 0 0 0 rg BT 297.74 226.10 Td (make ) Tj ET Q q 0 0 0 rg BT 322.29 226.10 Td (substantial ) Tj ET Q q 0 0 0 rg BT 367.96 226.10 Td (changes ) Tj ET Q q 0 0 0 rg BT 403.06 226.10 Td (to ) Tj ET Q q 0 0 0 rg BT 413.73 226.10 Td (the ) Tj ET Q q 0 0 0 rg BT 428.84 226.10 Td (general ) Tj ET Q q 0 0 0 rg BT 461.16 226.10 Td (nature ) Tj ET Q q 0 0 0 rg BT 489.04 226.10 Td (of ) Tj ET Q q 0 0 0 rg BT 500.26 226.10 Td (their ) Tj ET Q q 0 0 0 rg BT 521.48 226.10 Td (respective ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 214.10 Td (businesses; ) Tj ET Q q 0 0 0 rg BT 97.67 214.10 Td (incur ) Tj ET Q q 0 0 0 rg BT 120.90 214.10 Td (certain ) Tj ET Q q 0 0 0 rg BT 150.77 214.10 Td (indebtedness; ) Tj ET Q q 0 0 0 rg BT 207.88 214.10 Td (incur ) Tj ET Q q 0 0 0 rg BT 231.10 214.10 Td (liens; ) Tj ET Q q 0 0 0 rg BT 255.44 214.10 Td (make ) Tj ET Q q 0 0 0 rg BT 279.77 214.10 Td (loans ) Tj ET Q q 0 0 0 rg BT 303.56 214.10 Td (or ) Tj ET Q q 0 0 0 rg BT 314.56 214.10 Td (guarantees; ) Tj ET Q q 0 0 0 rg BT 362.77 214.10 Td (make ) Tj ET Q q 0 0 0 rg BT 387.10 214.10 Td (certain ) Tj ET Q q 0 0 0 rg BT 416.98 214.10 Td (investments; ) Tj ET Q q 0 0 0 rg BT 470.20 214.10 Td (transact ) Tj ET Q q 0 0 0 rg BT 503.97 214.10 Td (with ) Tj ET Q q 0 0 0 rg BT 524.42 214.10 Td (af) Tj ET Q q 0 0 0 rg BT 532.01 214.10 Td (filiates; ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 202.10 Td (enter ) Tj ET Q q 0 0 0 rg BT 71.71 202.10 Td (into ) Tj ET Q q 0 0 0 rg BT 88.99 202.10 Td (sale ) Tj ET Q q 0 0 0 rg BT 106.26 202.10 Td (and ) Tj ET Q q 0 0 0 rg BT 122.42 202.10 Td (leaseback ) Tj ET Q q 0 0 0 rg BT 163.00 202.10 Td (transactions; ) Tj ET Q q 0 0 0 rg BT 215.27 202.10 Td (engage ) Tj ET Q q 0 0 0 rg BT 245.31 202.10 Td (in ) Tj ET Q q 0 0 0 rg BT 254.81 202.10 Td (certain ) Tj ET Q q 0 0 0 rg BT 283.73 202.10 Td (chartering-in ) Tj ET Q q 0 0 0 rg BT 337.09 202.10 Td (of ) Tj ET Q q 0 0 0 rg BT 347.15 202.10 Td (vessels; ) Tj ET Q q 0 0 0 rg BT 379.98 202.10 Td (dispose ) Tj ET Q q 0 0 0 rg BT 411.70 202.10 Td (of ) Tj ET Q q 0 0 0 rg BT 421.75 202.10 Td (shares ) Tj ET Q q 0 0 0 rg BT 448.47 202.10 Td (of ) Tj ET Q q 0 0 0 rg BT 458.52 202.10 Td (the ) Tj ET Q q 0 0 0 rg BT 472.46 202.10 Td (vessel ) Tj ET Q q 0 0 0 rg BT 498.62 202.10 Td (owning ) Tj ET Q q 0 0 0 rg BT 530.34 202.10 Td (entities; ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 190.10 Td (or ) Tj ET Q q 0 0 0 rg BT 60.83 190.10 Td (acquire ) Tj ET Q q 0 0 0 rg BT 92.75 190.10 Td (the ) Tj ET Q q 0 0 0 rg BT 107.47 190.10 Td (Norwegian ) Tj ET Q q 0 0 0 rg BT 154.40 190.10 Td (Bonds.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 166.10 Td ( ) Tj ET Q q 0 0 0 rg BT 86.00 166.10 Td (The ) Tj ET Q q 0 0 0 rg BT 104.05 166.10 Td (Bonds ) Tj ET Q q 0 0 0 rg BT 132.11 166.10 Td (were ) Tj ET Q q 0 0 0 rg BT 154.04 166.10 Td (listed ) Tj ET Q q 0 0 0 rg BT 178.20 166.10 Td (for ) Tj ET Q q 0 0 0 rg BT 192.36 166.10 Td (trading ) Tj ET Q q 0 0 0 rg BT 223.19 166.10 Td (on ) Tj ET Q q 0 0 0 rg BT 235.69 166.10 Td (the ) Tj ET Q q 0 0 0 rg BT 250.40 166.10 Td (Oslo ) Tj ET Q q 0 0 0 rg BT 271.80 166.10 Td (Stock ) Tj ET Q q 0 0 0 rg BT 297.07 166.10 Td (Exchange ) Tj ET Q q 0 0 0 rg BT 339.00 166.10 Td (on ) Tj ET Q q 0 0 0 rg BT 351.50 166.10 Td (May ) Tj ET Q q 0 0 0 rg BT 372.33 166.10 Td (15, ) Tj ET Q q 0 0 0 rg BT 387.33 166.10 Td (2018.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 142.10 Td (Super ) Tj ET Q q 0 0 0 rg BT 75.83 142.10 Td (Senior ) Tj ET Q q 0 0 0 rg BT 104.44 142.10 Td (Facility) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 57.00 130.10 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 89.00 118.10 Td (On ) Tj ET Q q 0 0 0 rg BT 103.84 118.10 Td (December ) Tj ET Q q 0 0 0 rg BT 147.54 118.10 Td (8, ) Tj ET Q q 0 0 0 rg BT 157.66 118.10 Td (2017, ) Tj ET Q q 0 0 0 rg BT 182.78 118.10 Td (Shipco ) Tj ET Q q 0 0 0 rg BT 213.18 118.10 Td (entered ) Tj ET Q q 0 0 0 rg BT 245.23 118.10 Td (into ) Tj ET Q q 0 0 0 rg BT 263.40 118.10 Td (the ) Tj ET Q q 0 0 0 rg BT 278.24 118.10 Td (Super ) Tj ET Q q 0 0 0 rg BT 304.19 118.10 Td (Senior ) Tj ET Q q 0 0 0 rg BT 332.92 118.10 Td (Facility ) Tj ET Q q 0 0 0 rg BT 366.09 118.10 Td (agreement, ) Tj ET Q q 0 0 0 rg BT 412.85 118.10 Td (which ) Tj ET Q q 0 0 0 rg BT 439.91 118.10 Td (provides ) Tj ET Q q 0 0 0 rg BT 476.96 118.10 Td (for ) Tj ET Q q 0 0 0 rg BT 491.24 118.10 Td (a ) Tj ET Q q 0 0 0 rg BT 498.30 118.10 Td (revolving ) Tj ET Q q 0 0 0 rg BT 539.25 118.10 Td (credit ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 106.10 Td (facility ) Tj ET Q q 0 0 0 rg BT 81.41 106.10 Td (in ) Tj ET Q q 0 0 0 rg BT 92.28 106.10 Td (an ) Tj ET Q q 0 0 0 rg BT 104.81 106.10 Td (aggregate ) Tj ET Q q 0 0 0 rg BT 146.76 106.10 Td (amount ) Tj ET Q q 0 0 0 rg BT 179.85 106.10 Td (of ) Tj ET Q q 0 0 0 rg BT 191.27 106.10 Td (up ) Tj ET Q q 0 0 0 rg BT 204.36 106.10 Td (to ) Tj ET Q q 0 0 0 rg BT 215.23 106.10 Td ($15,000,000 ) Tj ET Q q 0 0 0 rg BT 268.32 106.10 Td (\(the ) Tj ET Q q 0 0 0 rg BT 286.96 106.10 Td ("Super ) Tj ET Q q 0 0 0 rg BT 317.46 106.10 Td (Senior ) Tj ET Q q 0 0 0 rg BT 346.66 106.10 Td (Facility"\). ) Tj ET Q q 0 0 0 rg BT 389.99 106.10 Td (The ) Tj ET Q q 0 0 0 rg BT 408.63 106.10 Td (proceeds ) Tj ET Q q 0 0 0 rg BT 447.26 106.10 Td (of ) Tj ET Q q 0 0 0 rg BT 458.68 106.10 Td (the ) Tj ET Q q 0 0 0 rg BT 473.99 106.10 Td (Super ) Tj ET Q q 0 0 0 rg BT 500.41 106.10 Td (Senior ) Tj ET Q q 0 0 0 rg BT 529.61 106.10 Td (Facility) Tj ET Q q 0 0 0 rg BT 559.51 106.10 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 94.10 Td (which ) Tj ET Q q 0 0 0 rg BT 76.83 94.10 Td (are ) Tj ET Q q 0 0 0 rg BT 91.44 94.10 Td (currently ) Tj ET Q q 0 0 0 rg BT 129.93 94.10 Td (undrawn, ) Tj ET Q q 0 0 0 rg BT 169.82 94.10 Td (are ) Tj ET Q q 0 0 0 rg BT 184.42 94.10 Td (expected, ) Tj ET Q q 0 0 0 rg BT 224.85 94.10 Td (pursuant ) Tj ET Q q 0 0 0 rg BT 261.68 94.10 Td (to ) Tj ET Q q 0 0 0 rg BT 271.86 94.10 Td (the ) Tj ET Q q 0 0 0 rg BT 286.47 94.10 Td (terms ) Tj ET Q q 0 0 0 rg BT 311.08 94.10 Td (of ) Tj ET Q q 0 0 0 rg BT 321.81 94.10 Td (the ) Tj ET Q q 0 0 0 rg BT 336.42 94.10 Td (Super ) Tj ET Q q 0 0 0 rg BT 362.15 94.10 Td (Senior ) Tj ET Q q 0 0 0 rg BT 390.66 94.10 Td (Facility) Tj ET Q q 0 0 0 rg BT 420.56 94.10 Td (, ) Tj ET Q q 0 0 0 rg BT 425.45 94.10 Td (to ) Tj ET Q q 0 0 0 rg BT 435.63 94.10 Td (be ) Tj ET Q q 0 0 0 rg BT 447.46 94.10 Td (used ) Tj ET Q q 0 0 0 rg BT 468.19 94.10 Td (\(i\) ) Tj ET Q q 0 0 0 rg BT 480.03 94.10 Td (to ) Tj ET Q q 0 0 0 rg BT 490.20 94.10 Td (acquire ) Tj ET Q q 0 0 0 rg BT 522.02 94.10 Td (additional ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 82.10 Td (vessels ) Tj ET Q q 0 0 0 rg BT 81.39 82.10 Td (or ) Tj ET Q q 0 0 0 rg BT 92.79 82.10 Td (vessel ) Tj ET Q q 0 0 0 rg BT 120.29 82.10 Td (owners ) Tj ET Q q 0 0 0 rg BT 152.23 82.10 Td (and ) Tj ET Q q 0 0 0 rg BT 169.73 82.10 Td (\(ii\) ) Tj ET Q q 0 0 0 rg BT 185.01 82.10 Td (for ) Tj ET Q q 0 0 0 rg BT 199.74 82.10 Td (general ) Tj ET Q q 0 0 0 rg BT 232.22 82.10 Td (corporate ) Tj ET Q q 0 0 0 rg BT 273.04 82.10 Td (and ) Tj ET Q q 0 0 0 rg BT 290.54 82.10 Td (working ) Tj ET Q q 0 0 0 rg BT 326.94 82.10 Td (capital ) Tj ET Q q 0 0 0 rg BT 356.65 82.10 Td (purposes ) Tj ET Q q 0 0 0 rg BT 395.26 82.10 Td (of ) Tj ET Q q 0 0 0 rg BT 406.66 82.10 Td (Shipco ) Tj ET Q q 0 0 0 rg BT 437.50 82.10 Td (and ) Tj ET Q q 0 0 0 rg BT 455.00 82.10 Td (its ) Tj ET Q q 0 0 0 rg BT 467.51 82.10 Td (subsidiaries. ) Tj ET Q q 0 0 0 rg BT 520.07 82.10 Td (The ) Tj ET Q q 0 0 0 rg BT 538.68 82.10 Td (Super ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 70.10 Td (Senior ) Tj ET Q q 0 0 0 rg BT 78.30 70.10 Td (Facility ) Tj ET Q q 0 0 0 rg BT 111.05 70.10 Td (matures ) Tj ET Q q 0 0 0 rg BT 144.90 70.10 Td (on ) Tj ET Q q 0 0 0 rg BT 156.62 70.10 Td (August ) Tj ET Q q 0 0 0 rg BT 187.70 70.10 Td (28, ) Tj ET Q q 0 0 0 rg BT 202.40 70.10 Td (2022. ) Tj ET Q q 0 0 0 rg BT 227.10 70.10 Td (Shipco ) Tj ET Q q 0 0 0 rg BT 257.07 70.10 Td (incurred ) Tj ET Q q 0 0 0 rg BT 292.58 70.10 Td ($285,342 ) Tj ET Q q 0 0 0 rg BT 332.28 70.10 Td (as ) Tj ET Q q 0 0 0 rg BT 342.81 70.10 Td (other ) Tj ET Q q 0 0 0 rg BT 365.55 70.10 Td (financing ) Tj ET Q q 0 0 0 rg BT 405.51 70.10 Td (costs ) Tj ET Q q 0 0 0 rg BT 427.70 70.10 Td (in ) Tj ET Q q 0 0 0 rg BT 437.68 70.10 Td (connection ) Tj ET Q q 0 0 0 rg BT 483.75 70.10 Td (with ) Tj ET Q q 0 0 0 rg BT 503.72 70.10 Td (the ) Tj ET Q q 0 0 0 rg BT 518.14 70.10 Td (transaction ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 58.10 Td (which ) Tj ET Q q 0 0 0 rg BT 76.94 58.10 Td (was ) Tj ET Q q 0 0 0 rg BT 94.99 58.10 Td (recorded ) Tj ET Q q 0 0 0 rg BT 132.47 58.10 Td (as ) Tj ET Q q 0 0 0 rg BT 143.30 58.10 Td (deferred ) Tj ET Q q 0 0 0 rg BT 179.10 58.10 Td (financing ) Tj ET Q q 0 0 0 rg BT 219.37 58.10 Td (costs ) Tj ET Q q 0 0 0 rg BT 241.87 58.10 Td (on ) Tj ET Q q 0 0 0 rg BT 254.37 58.10 Td (the ) Tj ET Q q 0 0 0 rg BT 269.08 58.10 Td (condensed ) Tj ET Q q 0 0 0 rg BT 313.79 58.10 Td (consolidated ) Tj ET Q q 0 0 0 rg BT 366.83 58.10 Td (balance ) Tj ET Q q 0 0 0 rg BT 399.86 58.10 Td (sheet ) Tj ET Q q 0 0 0 rg BT 422.91 58.10 Td (as ) Tj ET Q q 0 0 0 rg BT 433.74 58.10 Td (of ) Tj ET Q q 0 0 0 rg BT 444.57 58.10 Td (September ) Tj ET Q q 0 0 0 rg BT 489.83 58.10 Td (30, ) Tj ET Q q 0 0 0 rg BT 504.83 58.10 Td (2018.) Tj ET Q endstream endobj 27 0 obj <> endobj 28 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 19.60 Td ( ) Tj ET Q q 0 0 0 rg BT 86.00 19.60 Td ( ) Tj ET Q q 0 0 0 rg BT 122.00 19.60 Td ( ) Tj ET Q q 0 0 0 rg BT 158.00 19.60 Td ( ) Tj ET Q q 0 0 0 rg BT 194.00 19.60 Td ( ) Tj ET Q q 0 0 0 rg BT 230.00 19.60 Td ( ) Tj ET Q q 0 0 0 rg BT 266.00 19.60 Td ( ) Tj ET Q q 0 0 0 rg BT 302.00 19.60 Td (F-1) Tj ET Q q 0 0 0 rg BT 315.52 19.60 Td (1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 89.00 742.10 Td (As ) Tj ET Q q 0 0 0 rg BT 102.61 742.10 Td (of ) Tj ET Q q 0 0 0 rg BT 113.44 742.10 Td (September ) Tj ET Q q 0 0 0 rg BT 158.71 742.10 Td (30, ) Tj ET Q q 0 0 0 rg BT 173.71 742.10 Td (2018, ) Tj ET Q q 0 0 0 rg BT 198.71 742.10 Td (the ) Tj ET Q q 0 0 0 rg BT 213.42 742.10 Td (availability ) Tj ET Q q 0 0 0 rg BT 260.91 742.10 Td (under ) Tj ET Q q 0 0 0 rg BT 286.18 742.10 Td (the ) Tj ET Q q 0 0 0 rg BT 300.89 742.10 Td (Super ) Tj ET Q q 0 0 0 rg BT 326.72 742.10 Td (Senior ) Tj ET Q q 0 0 0 rg BT 355.33 742.10 Td (Facility ) Tj ET Q q 0 0 0 rg BT 388.38 742.10 Td (is ) Tj ET Q q 0 0 0 rg BT 397.55 742.10 Td ($15,000,000. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 92.00 718.10 Td (The ) Tj ET Q q 0 0 0 rg BT 110.54 718.10 Td (outstanding ) Tj ET Q q 0 0 0 rg BT 160.20 718.10 Td (borrowings ) Tj ET Q q 0 0 0 rg BT 208.75 718.10 Td (under ) Tj ET Q q 0 0 0 rg BT 234.51 718.10 Td (the ) Tj ET Q q 0 0 0 rg BT 249.73 718.10 Td (Super ) Tj ET Q q 0 0 0 rg BT 276.05 718.10 Td (Senior ) Tj ET Q q 0 0 0 rg BT 305.16 718.10 Td (Facility ) Tj ET Q q 0 0 0 rg BT 338.70 718.10 Td (will ) Tj ET Q q 0 0 0 rg BT 357.26 718.10 Td (bear ) Tj ET Q q 0 0 0 rg BT 377.46 718.10 Td (interest ) Tj ET Q q 0 0 0 rg BT 409.89 718.10 Td (at ) Tj ET Q q 0 0 0 rg BT 420.10 718.10 Td (LIBOR ) Tj ET Q q 0 0 0 rg BT 453.10 718.10 Td (plus ) Tj ET Q q 0 0 0 rg BT 472.76 718.10 Td (2.00% ) Tj ET Q q 0 0 0 rg BT 501.59 718.10 Td (per ) Tj ET Q q 0 0 0 rg BT 517.35 718.10 Td (annum ) Tj ET Q q 0 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Tj ET Q q 0 0 0 rg BT 105.78 514.10 Td (or ) Tj ET Q q 0 0 0 rg BT 117.40 514.10 Td (corporate ) Tj ET Q q 0 0 0 rg BT 158.44 514.10 Td (reor) Tj ET Q q 0 0 0 rg BT 174.35 514.10 Td (ganization; ) Tj ET Q q 0 0 0 rg BT 222.07 514.10 Td (make ) Tj ET Q q 0 0 0 rg BT 247.01 514.10 Td (substantial ) Tj ET Q q 0 0 0 rg BT 293.08 514.10 Td (changes ) Tj ET Q q 0 0 0 rg BT 328.57 514.10 Td (to ) Tj ET Q q 0 0 0 rg BT 339.64 514.10 Td (the ) Tj ET Q q 0 0 0 rg BT 355.14 514.10 Td (general ) Tj ET Q q 0 0 0 rg BT 387.85 514.10 Td (nature ) Tj ET Q q 0 0 0 rg BT 416.12 514.10 Td (of ) Tj ET Q q 0 0 0 rg BT 427.74 514.10 Td (their ) Tj ET Q q 0 0 0 rg BT 449.35 514.10 Td (respective ) Tj ET Q q 0 0 0 rg BT 493.17 514.10 Td (businesses; ) Tj ET Q q 0 0 0 rg BT 541.46 514.10 Td (incur ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 502.10 Td (certain ) Tj ET Q q 0 0 0 rg BT 79.56 502.10 Td (indebtedness; ) Tj ET Q q 0 0 0 rg BT 136.35 502.10 Td (incur ) Tj ET Q q 0 0 0 rg BT 159.26 502.10 Td (liens; ) Tj ET Q q 0 0 0 rg BT 183.28 502.10 Td (make ) Tj ET Q q 0 0 0 rg BT 207.29 502.10 Td (loans ) Tj ET Q q 0 0 0 rg BT 230.76 502.10 Td (or ) Tj ET Q q 0 0 0 rg BT 241.45 502.10 Td (guarantees; ) Tj ET Q q 0 0 0 rg BT 289.34 502.10 Td (make ) Tj ET Q q 0 0 0 rg BT 313.35 502.10 Td (certain ) Tj ET Q q 0 0 0 rg BT 342.92 502.10 Td (investments; ) Tj ET Q q 0 0 0 rg BT 395.83 502.10 Td (transact ) Tj ET Q q 0 0 0 rg BT 429.28 502.10 Td (other ) Tj ET Q q 0 0 0 rg BT 452.18 502.10 Td (than ) Tj ET Q q 0 0 0 rg BT 471.76 502.10 Td (on ) Tj ET Q q 0 0 0 rg BT 484.12 502.10 Td (arm) Tj ET Q q 0 0 0 rg BT 502.44 502.10 Td (s-length ) Tj ET Q q 0 0 0 rg BT 537.02 502.10 Td (terms; ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 490.10 Td (enter ) Tj ET Q q 0 0 0 rg BT 71.82 490.10 Td (into ) Tj ET Q q 0 0 0 rg BT 89.21 490.10 Td (sale ) Tj ET Q q 0 0 0 rg BT 106.59 490.10 Td (and ) Tj ET Q q 0 0 0 rg BT 122.86 490.10 Td (leaseback ) Tj ET Q q 0 0 0 rg BT 163.55 490.10 Td (transactions; ) Tj ET Q q 0 0 0 rg BT 215.93 490.10 Td (engage ) Tj ET Q q 0 0 0 rg BT 246.07 490.10 Td (in ) Tj ET Q q 0 0 0 rg BT 255.69 490.10 Td (certain ) Tj ET Q q 0 0 0 rg BT 284.72 490.10 Td (chartering-in ) Tj ET Q q 0 0 0 rg BT 338.19 490.10 Td (of ) Tj ET Q q 0 0 0 rg BT 348.36 490.10 Td (vessels; ) Tj ET Q q 0 0 0 rg BT 381.30 490.10 Td (or ) Tj ET Q q 0 0 0 rg BT 391.46 490.10 Td (dispose ) Tj ET Q q 0 0 0 rg BT 423.29 490.10 Td (of ) Tj ET Q q 0 0 0 rg BT 433.45 490.10 Td (shares ) Tj ET Q q 0 0 0 rg BT 460.28 490.10 Td (of ) Tj ET Q q 0 0 0 rg BT 470.44 490.10 Td (Shipco's ) Tj ET Q q 0 0 0 rg BT 505.74 490.10 Td (vessel ) Tj ET Q q 0 0 0 rg BT 532.02 490.10 Td (owning ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 478.10 Td (entities. ) Tj ET Q q 0 0 0 rg BT 83.76 478.10 Td (Additionally) Tj ET Q q 0 0 0 rg BT 133.66 478.10 Td (, ) Tj ET Q q 0 0 0 rg BT 139.21 478.10 Td (the ) Tj ET Q q 0 0 0 rg BT 154.48 478.10 Td (Company's ) Tj ET Q q 0 0 0 rg BT 202.11 478.10 Td (leverage ) Tj ET Q q 0 0 0 rg BT 239.02 478.10 Td (ratio ) Tj ET Q q 0 0 0 rg BT 260.39 478.10 Td (must ) Tj ET Q q 0 0 0 rg BT 282.89 478.10 Td (not ) Tj ET Q q 0 0 0 rg BT 298.72 478.10 Td (exceed ) Tj ET Q q 0 0 0 rg BT 329.52 478.10 Td (75% ) Tj ET Q q 0 0 0 rg BT 350.90 478.10 Td (and ) Tj ET Q q 0 0 0 rg BT 368.39 478.10 Td (its ) Tj ET Q q 0 0 0 rg BT 380.88 478.10 Td (and ) Tj ET Q q 0 0 0 rg BT 398.37 478.10 Td (its ) Tj ET Q q 0 0 0 rg BT 410.87 478.10 Td (subsidiaries) Tj ET Q q 0 0 0 rg BT 460.67 478.10 Td ( ) Tj ET Q q 0 0 0 rg BT 463.72 478.10 Td (free ) Tj ET Q q 0 0 0 rg BT 482.31 478.10 Td (liquidity ) Tj ET Q q 0 0 0 rg BT 519.25 478.10 Td (must ) Tj ET Q q 0 0 0 rg BT 541.75 478.10 Td (at ) Tj ET Q q 0 0 0 rg BT 552.02 478.10 Td (all ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 466.10 Td (times ) Tj ET Q q 0 0 0 rg BT 74.06 466.10 Td (be ) Tj ET Q q 0 0 0 rg BT 85.89 466.10 Td (at ) Tj ET Q q 0 0 0 rg BT 95.50 466.10 Td (least ) Tj ET Q q 0 0 0 rg BT 116.22 466.10 Td ($12,500,000. ) Tj ET Q q 0 0 0 rg BT 170.59 466.10 Td (Also, ) Tj ET Q q 0 0 0 rg BT 194.37 466.10 Td (the ) Tj ET Q q 0 0 0 rg BT 208.98 466.10 Td (total ) Tj ET Q q 0 0 0 rg BT 229.15 466.10 Td (commitments ) Tj ET Q q 0 0 0 rg BT 285.98 466.10 Td (under ) Tj ET Q q 0 0 0 rg BT 311.15 466.10 Td (the ) Tj ET Q q 0 0 0 rg BT 325.76 466.10 Td (Super ) Tj ET Q q 0 0 0 rg BT 351.48 466.10 Td (Senior ) Tj ET Q q 0 0 0 rg BT 379.98 466.10 Td (Facility ) Tj ET Q q 0 0 0 rg BT 412.93 466.10 Td (will ) Tj ET Q q 0 0 0 rg BT 430.88 466.10 Td (be ) Tj ET Q q 0 0 0 rg BT 442.71 466.10 Td (cancelled ) Tj ET Q q 0 0 0 rg BT 482.86 466.10 Td (if ) Tj ET Q q 0 0 0 rg BT 491.36 466.10 Td (\(i\) ) Tj ET Q q 0 0 0 rg BT 503.19 466.10 Td (at ) Tj ET Q q 0 0 0 rg BT 512.80 466.10 Td (any ) Tj ET Q q 0 0 0 rg BT 529.63 466.10 Td (time ) Tj ET Q q 0 0 0 rg BT 549.80 466.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 454.10 Td (aggregate ) Tj ET Q q 0 0 0 rg BT 91.21 454.10 Td (market ) Tj ET Q q 0 0 0 rg BT 121.33 454.10 Td (value ) Tj ET Q q 0 0 0 rg BT 145.33 454.10 Td (of ) Tj ET Q q 0 0 0 rg BT 156.02 454.10 Td (the ) Tj ET Q q 0 0 0 rg BT 170.58 454.10 Td (security ) Tj ET Q q 0 0 0 rg BT 204.59 454.10 Td (vessels ) Tj ET Q q 0 0 0 rg BT 235.27 454.10 Td (for ) Tj ET Q q 0 0 0 rg BT 249.28 454.10 Td (the ) Tj ET Q q 0 0 0 rg BT 263.85 454.10 Td (Super ) Tj ET Q q 0 0 0 rg BT 289.53 454.10 Td (Senior ) Tj ET Q q 0 0 0 rg BT 317.99 454.10 Td (Facility ) Tj ET Q q 0 0 0 rg BT 350.89 454.10 Td (is ) Tj ET Q q 0 0 0 rg BT 359.91 454.10 Td (less ) Tj ET Q q 0 0 0 rg BT 377.27 454.10 Td (than ) Tj ET Q q 0 0 0 rg BT 396.83 454.10 Td (300% ) Tj ET Q q 0 0 0 rg BT 422.51 454.10 Td (of ) Tj ET Q q 0 0 0 rg BT 433.20 454.10 Td (the ) Tj ET Q q 0 0 0 rg BT 447.76 454.10 Td (total ) Tj ET Q q 0 0 0 rg BT 467.89 454.10 Td (commitments ) Tj ET Q q 0 0 0 rg BT 524.68 454.10 Td (under ) Tj ET Q q 0 0 0 rg BT 549.80 454.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 442.10 Td (Super ) Tj ET Q q 0 0 0 rg BT 76.29 442.10 Td (Senior ) Tj ET Q q 0 0 0 rg BT 105.35 442.10 Td (Facility ) Tj ET Q q 0 0 0 rg BT 138.86 442.10 Td (or ) Tj ET Q q 0 0 0 rg BT 150.15 442.10 Td (\(ii\) ) Tj ET Q q 0 0 0 rg BT 165.33 442.10 Td (if ) Tj ET Q q 0 0 0 rg BT 174.39 442.10 Td (Shipco ) Tj ET Q q 0 0 0 rg BT 205.13 442.10 Td (or ) Tj ET Q q 0 0 0 rg BT 216.42 442.10 Td (any ) Tj ET Q q 0 0 0 rg BT 233.81 442.10 Td (of ) Tj ET Q q 0 0 0 rg BT 245.10 442.10 Td (its ) Tj ET Q q 0 0 0 rg BT 257.51 442.10 Td (subsidiaries ) Tj ET Q q 0 0 0 rg BT 307.68 442.10 Td (redeems ) Tj ET Q q 0 0 0 rg BT 343.96 442.10 Td (or ) Tj ET Q q 0 0 0 rg BT 355.25 442.10 Td (otherwise ) Tj ET Q q 0 0 0 rg BT 397.08 442.10 Td (repays ) Tj ET Q q 0 0 0 rg BT 426.14 442.10 Td (the ) Tj ET Q q 0 0 0 rg BT 441.31 442.10 Td (Norwegian ) Tj ET Q q 0 0 0 rg BT 488.70 442.10 Td (Bonds ) Tj ET Q q 0 0 0 rg BT 517.22 442.10 Td (so ) Tj ET Q q 0 0 0 rg BT 529.07 442.10 Td (that ) Tj ET Q q 0 0 0 rg BT 547.02 442.10 Td (less ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 430.10 Td (than ) Tj ET Q q 0 0 0 rg BT 68.59 430.10 Td ($100,000,000 ) Tj ET Q q 0 0 0 rg BT 124.96 430.10 Td (is ) Tj ET Q q 0 0 0 rg BT 133.00 430.10 Td (outstanding ) Tj ET Q q 0 0 0 rg BT 181.04 430.10 Td (under ) Tj ET Q q 0 0 0 rg BT 205.18 430.10 Td (the ) Tj ET Q q 0 0 0 rg BT 218.77 430.10 Td (Bond ) Tj ET Q q 0 0 0 rg BT 241.71 430.10 Td (T) Tj ET Q q 0 0 0 rg BT 247.12 430.10 Td (erms. ) Tj ET Q q 0 0 0 rg BT 270.33 430.10 Td (The ) Tj ET Q q 0 0 0 rg BT 287.25 430.10 Td (Company ) Tj ET Q q 0 0 0 rg BT 327.51 430.10 Td (is ) Tj ET Q q 0 0 0 rg BT 335.55 430.10 Td (in ) Tj ET Q q 0 0 0 rg BT 344.70 430.10 Td (compliance ) Tj ET Q q 0 0 0 rg BT 392.17 430.10 Td (with ) Tj ET Q q 0 0 0 rg BT 411.32 430.10 Td (its ) Tj ET Q q 0 0 0 rg BT 422.14 430.10 Td (financial ) Tj ET Q q 0 0 0 rg BT 458.49 430.10 Td (covenants ) Tj ET Q q 0 0 0 rg BT 499.85 430.10 Td (as ) Tj ET Q q 0 0 0 rg BT 509.55 430.10 Td (of ) Tj ET Q q 0 0 0 rg BT 519.25 430.10 Td (September ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 418.10 Td (30, ) Tj ET Q q 0 0 0 rg BT 65.00 418.10 Td (2018.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 394.10 Td ( ) Tj ET Q q 0 0 0 rg BT 86.00 394.10 Td (The ) Tj ET Q q 0 0 0 rg BT 104.23 394.10 Td (Super ) Tj ET Q q 0 0 0 rg BT 130.24 394.10 Td (Senior ) Tj ET Q q 0 0 0 rg BT 159.03 394.10 Td (Facility ) Tj ET Q q 0 0 0 rg BT 192.26 394.10 Td (also ) Tj ET Q q 0 0 0 rg BT 211.05 394.10 Td (contains ) Tj ET Q q 0 0 0 rg BT 247.05 394.10 Td (certain ) Tj ET Q q 0 0 0 rg BT 276.94 394.10 Td (events ) Tj ET Q q 0 0 0 rg BT 305.17 394.10 Td (of ) Tj ET Q q 0 0 0 rg BT 316.18 394.10 Td (default ) Tj ET Q q 0 0 0 rg BT 346.62 394.10 Td (customary ) Tj ET Q q 0 0 0 rg BT 390.96 394.10 Td (for ) Tj ET Q q 0 0 0 rg BT 405.30 394.10 Td (transactions ) Tj ET Q q 0 0 0 rg BT 455.74 394.10 Td (of ) Tj ET Q q 0 0 0 rg BT 466.75 394.10 Td (this ) Tj ET Q q 0 0 0 rg BT 483.88 394.10 Td (type, ) Tj ET Q q 0 0 0 rg BT 506.28 394.10 Td (including, ) Tj ET Q q 0 0 0 rg BT 549.23 394.10 Td (but ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 382.10 Td (not ) Tj ET Q q 0 0 0 rg BT 65.61 382.10 Td (limited ) Tj ET Q q 0 0 0 rg BT 96.77 382.10 Td (to, ) Tj ET Q q 0 0 0 rg BT 109.87 382.10 Td (those ) Tj ET Q q 0 0 0 rg BT 133.81 382.10 Td (relating ) Tj ET Q q 0 0 0 rg BT 167.18 382.10 Td (to: ) Tj ET Q q 0 0 0 rg BT 180.57 382.10 Td (a ) Tj ET Q q 0 0 0 rg BT 187.83 382.10 Td (failure ) Tj ET Q q 0 0 0 rg BT 216.75 382.10 Td (to ) Tj ET Q q 0 0 0 rg BT 227.36 382.10 Td (pay ) Tj ET Q q 0 0 0 rg BT 244.63 382.10 Td (principal ) Tj ET Q q 0 0 0 rg BT 283.00 382.10 Td (or ) Tj ET Q q 0 0 0 rg BT 294.16 382.10 Td (interest; ) Tj ET Q q 0 0 0 rg BT 329.20 382.10 Td (a ) Tj ET Q q 0 0 0 rg BT 336.47 382.10 Td (breach ) Tj ET Q q 0 0 0 rg BT 365.94 382.10 Td (of ) Tj ET Q q 0 0 0 rg BT 377.10 382.10 Td (covenants, ) Tj ET Q q 0 0 0 rg BT 422.41 382.10 Td (representation ) Tj ET Q q 0 0 0 rg BT 481.88 382.10 Td (or ) Tj ET Q q 0 0 0 rg BT 493.04 382.10 Td (warranty; ) Tj ET Q q 0 0 0 rg BT 534.18 382.10 Td (a ) Tj ET Q q 0 0 0 rg BT 541.45 382.10 Td (cross ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 370.10 Td (default ) Tj ET Q q 0 0 0 rg BT 82.31 370.10 Td (to ) Tj ET Q q 0 0 0 rg BT 94.63 370.10 Td (other ) Tj ET Q q 0 0 0 rg BT 119.72 370.10 Td (indebtedness; ) Tj ET Q q 0 0 0 rg BT 178.70 370.10 Td (the ) Tj ET Q q 0 0 0 rg BT 195.46 370.10 Td (occurrence ) Tj ET Q q 0 0 0 rg BT 243.86 370.10 Td (of ) Tj ET Q q 0 0 0 rg BT 256.73 370.10 Td (certain ) Tj ET Q q 0 0 0 rg BT 288.48 370.10 Td (bankruptcy ) Tj ET Q q 0 0 0 rg BT 338.01 370.10 Td (and ) Tj ET Q q 0 0 0 rg BT 356.99 370.10 Td (insolvency ) Tj ET Q q 0 0 0 rg BT 404.86 370.10 Td (events; ) Tj ET Q q 0 0 0 rg BT 437.73 370.10 Td (the ) Tj ET Q q 0 0 0 rg BT 454.49 370.10 Td (cessation ) Tj ET Q q 0 0 0 rg BT 495.69 370.10 Td (of ) Tj ET Q q 0 0 0 rg BT 508.57 370.10 Td (business; ) Tj ET Q q 0 0 0 rg BT 549.78 370.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 358.10 Td (impossibility ) Tj ET Q q 0 0 0 rg BT 105.38 358.10 Td (or ) Tj ET Q q 0 0 0 rg BT 116.85 358.10 Td (unlawfulness ) Tj ET Q q 0 0 0 rg BT 172.76 358.10 Td (of ) Tj ET Q q 0 0 0 rg BT 184.24 358.10 Td (performance ) Tj ET Q q 0 0 0 rg BT 237.91 358.10 Td (of ) Tj ET Q q 0 0 0 rg BT 249.38 358.10 Td (the ) Tj ET Q q 0 0 0 rg BT 264.74 358.10 Td (finance ) Tj ET Q q 0 0 0 rg BT 297.31 358.10 Td (documents ) Tj ET Q q 0 0 0 rg BT 343.78 358.10 Td (for ) Tj ET Q q 0 0 0 rg BT 358.58 358.10 Td (the ) Tj ET Q q 0 0 0 rg BT 373.95 358.10 Td (Super ) Tj ET Q q 0 0 0 rg BT 400.42 358.10 Td (Senior ) Tj ET Q q 0 0 0 rg BT 429.67 358.10 Td (Facility; ) Tj ET Q q 0 0 0 rg BT 466.15 358.10 Td (and ) Tj ET Q q 0 0 0 rg BT 483.73 358.10 Td (the ) Tj ET Q q 0 0 0 rg BT 499.09 358.10 Td (occurrence ) Tj ET Q q 0 0 0 rg BT 546.09 358.10 Td (of ) Tj ET Q q 0 0 0 rg BT 557.56 358.10 Td (a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 346.10 Td (material ) Tj ET Q q 0 0 0 rg BT 85.26 346.10 Td (adverse ) Tj ET Q q 0 0 0 rg BT 118.30 346.10 Td (ef) Tj ET Q q 0 0 0 rg BT 125.88 346.10 Td (fect.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 322.10 Td (Inter) Tj ET Q q 0 0 0 rg BT 69.07 322.10 Td (est rates) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 298.10 Td ( ) Tj ET Q q 0 0 0 rg BT 86.00 298.10 Td (For ) Tj ET Q q 0 0 0 rg BT 102.07 298.10 Td (the ) Tj ET Q q 0 0 0 rg BT 116.46 298.10 Td (three ) Tj ET Q q 0 0 0 rg BT 138.62 298.10 Td (and ) Tj ET Q q 0 0 0 rg BT 155.23 298.10 Td (nine ) Tj ET Q q 0 0 0 rg BT 174.63 298.10 Td (months ) Tj ET Q q 0 0 0 rg BT 206.25 298.10 Td (ended ) Tj ET Q q 0 0 0 rg BT 232.30 298.10 Td (September ) Tj ET Q q 0 0 0 rg BT 277.24 298.10 Td (30, ) Tj ET Q q 0 0 0 rg BT 291.92 298.10 Td (2018, ) Tj ET Q q 0 0 0 rg BT 316.59 298.10 Td (the ) Tj ET Q q 0 0 0 rg BT 330.98 298.10 Td (interest ) Tj ET Q q 0 0 0 rg BT 362.59 298.10 Td (rate ) Tj ET Q q 0 0 0 rg BT 379.75 298.10 Td (on ) Tj ET Q q 0 0 0 rg BT 391.93 298.10 Td (the ) Tj ET Q q 0 0 0 rg BT 406.32 298.10 Td (Norwegian ) Tj ET Q q 0 0 0 rg BT 452.92 298.10 Td (Bond ) Tj ET Q q 0 0 0 rg BT 476.77 298.10 Td (Debt ) Tj ET Q q 0 0 0 rg BT 498.38 298.10 Td (was ) Tj ET Q q 0 0 0 rg BT 516.11 298.10 Td (8.25%. ) Tj ET Q q 0 0 0 rg BT 546.46 298.10 Td (The ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 286.10 Td (weighted ) Tj ET Q q 0 0 0 rg BT 89.01 286.10 Td (average ) Tj ET Q q 0 0 0 rg BT 122.45 286.10 Td (ef) Tj ET Q q 0 0 0 rg BT 130.03 286.10 Td (fective ) Tj ET Q q 0 0 0 rg BT 159.59 286.10 Td (interest ) Tj ET Q q 0 0 0 rg BT 191.38 286.10 Td (rate ) Tj ET Q q 0 0 0 rg BT 208.72 286.10 Td (including ) Tj ET Q q 0 0 0 rg BT 248.84 286.10 Td (the ) Tj ET Q q 0 0 0 rg BT 263.41 286.10 Td (amortization ) Tj ET Q q 0 0 0 rg BT 316.30 286.10 Td (of ) Tj ET Q q 0 0 0 rg BT 326.99 286.10 Td (debt ) Tj ET Q q 0 0 0 rg BT 346.56 286.10 Td (discount ) Tj ET Q q 0 0 0 rg BT 382.80 286.10 Td (and ) Tj ET Q q 0 0 0 rg BT 399.59 286.10 Td (debt ) Tj ET Q q 0 0 0 rg BT 419.16 286.10 Td (issuance ) Tj ET Q q 0 0 0 rg BT 455.39 286.10 Td (costs ) Tj ET Q q 0 0 0 rg BT 477.74 286.10 Td (for ) Tj ET Q q 0 0 0 rg BT 491.76 286.10 Td (these ) Tj ET Q q 0 0 0 rg BT 514.66 286.10 Td (periods ) Tj ET Q q 0 0 0 rg BT 546.45 286.10 Td (was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 274.10 Td (approximately ) Tj ET Q q 0 0 0 rg BT 111.12 274.10 Td (8.80%. ) Tj ET Q q 0 0 0 rg BT 142.56 274.10 Td (There ) Tj ET Q q 0 0 0 rg BT 169.24 274.10 Td (was ) Tj ET Q q 0 0 0 rg BT 188.15 274.10 Td (zero ) Tj ET Q q 0 0 0 rg BT 208.72 274.10 Td (interest ) Tj ET Q q 0 0 0 rg BT 241.51 274.10 Td (expense ) Tj ET Q q 0 0 0 rg BT 277.08 274.10 Td (for ) Tj ET Q q 0 0 0 rg BT 292.10 274.10 Td (the ) Tj ET Q q 0 0 0 rg BT 307.67 274.10 Td (three ) Tj ET Q q 0 0 0 rg BT 331.02 274.10 Td (and ) Tj ET Q q 0 0 0 rg BT 348.81 274.10 Td (nine ) Tj ET Q q 0 0 0 rg BT 369.39 274.10 Td (months ) Tj ET Q q 0 0 0 rg BT 402.20 274.10 Td (ended ) Tj ET Q q 0 0 0 rg BT 429.44 274.10 Td (September ) Tj ET Q q 0 0 0 rg BT 475.56 274.10 Td (30, ) Tj ET Q q 0 0 0 rg BT 491.42 274.10 Td (2017 ) Tj ET Q q 0 0 0 rg BT 514.78 274.10 Td (because ) Tj ET Q q 0 0 0 rg BT 549.78 274.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 262.10 Td (Company ) Tj ET Q q 0 0 0 rg BT 91.75 262.10 Td (had ) Tj ET Q q 0 0 0 rg BT 109.06 262.10 Td (no ) Tj ET Q q 0 0 0 rg BT 121.92 262.10 Td (outstanding ) Tj ET Q q 0 0 0 rg BT 171.45 262.10 Td (debt ) Tj ET Q q 0 0 0 rg BT 191.53 262.10 Td (and ) Tj ET Q q 0 0 0 rg BT 208.84 262.10 Td (the ) Tj ET Q q 0 0 0 rg BT 223.92 262.10 Td (26 ) Tj ET Q q 0 0 0 rg BT 236.78 262.10 Td (guarantors ) Tj ET Q q 0 0 0 rg BT 281.86 262.10 Td (served ) Tj ET Q q 0 0 0 rg BT 310.82 262.10 Td (as ) Tj ET Q q 0 0 0 rg BT 322.02 262.10 Td (security ) Tj ET Q q 0 0 0 rg BT 356.54 262.10 Td (under ) Tj ET Q q 0 0 0 rg BT 382.17 262.10 Td (outstanding ) Tj ET Q q 0 0 0 rg BT 431.70 262.10 Td (debt ) Tj ET Q q 0 0 0 rg BT 451.78 262.10 Td (facilities ) Tj ET Q q 0 0 0 rg BT 489.08 262.10 Td (of ) Tj ET Q q 0 0 0 rg BT 500.27 262.10 Td (Eagle ) Tj ET Q q 0 0 0 rg BT 525.90 262.10 Td (Shipping ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 250.10 Td (LLC, ) Tj ET Q q 0 0 0 rg BT 73.89 250.10 Td (a ) Tj ET Q q 0 0 0 rg BT 80.83 250.10 Td (wholly-owned ) Tj ET Q q 0 0 0 rg BT 141.09 250.10 Td (subsidiary ) Tj ET Q q 0 0 0 rg BT 184.70 250.10 Td (of ) Tj ET Q q 0 0 0 rg BT 195.53 250.10 Td (the ) Tj ET Q q 0 0 0 rg BT 210.25 250.10 Td (Parent ) Tj ET Q q 0 0 0 rg BT 238.30 250.10 Td (Company) Tj ET Q q 0 0 0 rg BT 276.53 250.10 Td (. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 226.10 Td (Interest expense consisted of:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 65.00 203.60 181.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 246.00 203.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 250.00 203.60 150.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 400.00 203.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 404.00 203.60 142.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 65.00 165.60 181.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 246.00 165.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 250.00 165.60 75.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 325.00 165.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 329.00 165.60 71.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 400.00 165.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 404.00 165.60 72.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 476.00 165.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 480.00 165.60 66.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 65.00 135.60 181.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 246.00 135.60 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 250.00 135.60 75.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 325.00 135.60 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 329.00 135.60 71.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 400.00 135.60 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 404.00 135.60 72.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 476.00 135.60 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 480.00 135.60 66.00 -25.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 325 189.60000000000002 m 329 189.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 250 189.60000000000002 m 325 189.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 250 165.60000000000002 m 325 165.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 329 189.60000000000002 m 400 189.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 329 165.60000000000002 m 400 165.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 400 189.60000000000002 m 404 189.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 400 165.60000000000002 m 404 165.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 404 189.60000000000002 m 476 189.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 404 165.60000000000002 m 476 165.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 476 189.60000000000002 m 480 189.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 480 189.60000000000002 m 546 189.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 480 165.60000000000002 m 546 165.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 250 110.60000000000002 m 325 110.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 250 96.60000000000002 m 325 96.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 250 94.60000000000002 m 325 94.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 329 110.60000000000002 m 400 110.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 329 96.60000000000002 m 400 96.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 329 94.60000000000002 m 400 94.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 400 110.60000000000002 m 404 110.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 400 96.60000000000002 m 404 96.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 400 94.60000000000002 m 404 94.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 404 110.60000000000002 m 476 110.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 404 96.60000000000002 m 476 96.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 404 94.60000000000002 m 476 94.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 476 110.60000000000002 m 480 110.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 476 96.60000000000002 m 480 96.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 476 94.60000000000002 m 480 94.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 480 110.60000000000002 m 546 110.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 480 96.60000000000002 m 546 96.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 480 94.60000000000002 m 546 94.60000000000002 l s BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 194.17 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 279.00 194.28 Td (Thr) Tj ET Q q 0 0 0 rg BT 295.58 194.28 Td (ee Months Ended) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 431.70 194.28 Td (Nine Months Ended) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 170.27 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 256.50 180.28 Td (September) Tj ET Q q 0 0 0 rg BT 302.51 180.28 Td ( 30,) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 277.00 170.28 Td (2018) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 333.50 180.28 Td (September) Tj ET Q q 0 0 0 rg BT 379.51 180.28 Td ( 30,) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 354.00 170.28 Td (2017) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 409.00 180.28 Td (September) Tj ET Q q 0 0 0 rg BT 455.01 180.28 Td ( 30,) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 429.50 170.28 Td (2018) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 489.50 180.28 Td (September) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 495.00 170.28 Td (30, 2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 155.27 Td (Norwegian Bond Debt interest) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 252.50 155.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 281.15 155.27 Td (4,216,667) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 331.50 155.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 386.15 155.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 406.50 155.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 427.15 155.27 Td (12,420,834) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 482.50 155.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 532.15 155.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 140.27 Td (Amortization of deferred financing costs) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 288.65 140.27 Td (321,362) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 386.15 140.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 439.65 140.27 Td (955,552) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 532.15 140.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 125.27 Td (Commitment fees - Super Senior Revolver) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 115.27 Td (Facility) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 293.65 115.27 Td (31,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 386.15 115.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 444.65 115.27 Td (90,666) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 532.15 115.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 100.27 Td (T) Tj ET Q q 0 0 0 rg BT 72.91 100.27 Td (otal Interest Expense) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 252.50 100.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 281.15 100.27 Td (4,569,029) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 331.50 100.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 386.15 100.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 406.50 100.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 427.15 100.27 Td (13,467,052) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 482.50 100.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 532.15 100.27 Td () Tj ET Q BT /F1 10.00 Tf ET endstream endobj 29 0 obj <> endobj 30 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 19.60 Td ( ) Tj ET Q q 0 0 0 rg BT 86.00 19.60 Td ( ) Tj ET Q q 0 0 0 rg BT 122.00 19.60 Td ( ) Tj ET Q q 0 0 0 rg BT 158.00 19.60 Td ( ) Tj ET Q q 0 0 0 rg BT 194.00 19.60 Td ( ) Tj ET Q q 0 0 0 rg BT 230.00 19.60 Td ( ) Tj ET Q q 0 0 0 rg BT 266.00 19.60 Td ( ) Tj ET Q q 0 0 0 rg BT 302.00 19.60 Td (F-12) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 742.25 Td (Note 6. Related Party transactions) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 718.25 Td ( ) Tj ET Q q 0 0 0 rg BT 86.00 718.25 Td (Shipco ) Tj ET Q q 0 0 0 rg BT 117.21 718.25 Td (entered ) Tj ET Q q 0 0 0 rg BT 150.07 718.25 Td (into ) Tj ET Q q 0 0 0 rg BT 169.06 718.25 Td (a ) Tj ET Q q 0 0 0 rg BT 176.94 718.25 Td (commercial ) Tj ET Q q 0 0 0 rg BT 227.57 718.25 Td (and ) Tj ET Q q 0 0 0 rg BT 245.44 718.25 Td (technical ) Tj ET Q q 0 0 0 rg BT 284.97 718.25 Td (management ) Tj ET Q q 0 0 0 rg BT 339.49 718.25 Td (agreement ) Tj ET Q q 0 0 0 rg BT 384.57 718.25 Td (with ) Tj ET Q q 0 0 0 rg BT 405.78 718.25 Td (Eagle ) Tj ET Q q 0 0 0 rg BT 431.98 718.25 Td (Shipping ) Tj ET Q q 0 0 0 rg BT 471.53 718.25 Td (LLC, ) Tj ET Q q 0 0 0 rg BT 496.35 718.25 Td (a ) Tj ET Q q 0 0 0 rg BT 504.23 718.25 Td (wholly-owned ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 706.25 Td (subsidiary ) Tj ET Q q 0 0 0 rg BT 94.62 706.25 Td (of ) Tj ET Q q 0 0 0 rg BT 106.46 706.25 Td (the ) Tj ET Q q 0 0 0 rg BT 122.19 706.25 Td (Parent ) Tj ET Q q 0 0 0 rg BT 151.25 706.25 Td (Company) Tj ET Q q 0 0 0 rg BT 189.49 706.25 Td (, ) Tj ET Q q 0 0 0 rg BT 195.50 706.25 Td (on ) Tj ET Q q 0 0 0 rg BT 209.01 706.25 Td (November ) Tj ET Q q 0 0 0 rg BT 254.73 706.25 Td (21, ) Tj ET Q q 0 0 0 rg BT 270.74 706.25 Td (2016 ) Tj ET Q q 0 0 0 rg BT 294.26 706.25 Td (for ) Tj ET Q q 0 0 0 rg BT 309.43 706.25 Td (performance ) Tj ET Q q 0 0 0 rg BT 363.46 706.25 Td (of ) Tj ET Q q 0 0 0 rg BT 375.31 706.25 Td (technical ) Tj ET Q q 0 0 0 rg BT 414.91 706.25 Td (and ) Tj ET Q q 0 0 0 rg BT 432.86 706.25 Td (commercial ) Tj ET Q q 0 0 0 rg BT 483.57 706.25 Td (services ) Tj ET Q q 0 0 0 rg BT 519.29 706.25 Td (at ) Tj ET Q q 0 0 0 rg BT 530.02 706.25 Td (a ) Tj ET Q q 0 0 0 rg BT 537.97 706.25 Td (fee ) Tj ET Q q 0 0 0 rg BT 553.69 706.25 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 694.25 Td ($150,000 ) Tj ET Q q 0 0 0 rg BT 89.10 694.25 Td (per ) Tj ET Q q 0 0 0 rg BT 103.47 694.25 Td (vessel ) Tj ET Q q 0 0 0 rg BT 129.50 694.25 Td (per ) Tj ET Q q 0 0 0 rg BT 143.87 694.25 Td (annum ) Tj ET Q q 0 0 0 rg BT 172.69 694.25 Td (for ) Tj ET Q q 0 0 0 rg BT 185.95 694.25 Td (commercial ) Tj ET Q q 0 0 0 rg BT 234.74 694.25 Td (management ) Tj ET Q q 0 0 0 rg BT 287.43 694.25 Td (services ) Tj ET Q q 0 0 0 rg BT 321.24 694.25 Td (and ) Tj ET Q q 0 0 0 rg BT 337.28 694.25 Td ($135,000 ) Tj ET Q q 0 0 0 rg BT 376.37 694.25 Td (per ) Tj ET Q q 0 0 0 rg BT 390.74 694.25 Td (vessel ) Tj ET Q q 0 0 0 rg BT 416.78 694.25 Td (per ) Tj ET Q q 0 0 0 rg BT 431.15 694.25 Td (annum ) Tj ET Q q 0 0 0 rg BT 459.96 694.25 Td (for ) Tj ET Q q 0 0 0 rg BT 473.22 694.25 Td (technical ) Tj ET Q q 0 0 0 rg BT 510.91 694.25 Td (management ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 682.25 Td (services ) Tj ET Q q 0 0 0 rg BT 84.72 682.25 Td (for ) Tj ET Q q 0 0 0 rg BT 98.90 682.25 Td (one ) Tj ET Q q 0 0 0 rg BT 115.85 682.25 Td (vessel. ) Tj ET Q q 0 0 0 rg BT 144.75 682.25 Td (Additionally) Tj ET Q q 0 0 0 rg BT 194.65 682.25 Td (, ) Tj ET Q q 0 0 0 rg BT 199.66 682.25 Td (Shipco ) Tj ET Q q 0 0 0 rg BT 229.96 682.25 Td (is ) Tj ET Q q 0 0 0 rg BT 239.14 682.25 Td (required ) Tj ET Q q 0 0 0 rg BT 274.97 682.25 Td (to ) Tj ET Q q 0 0 0 rg BT 285.27 682.25 Td (pay ) Tj ET Q q 0 0 0 rg BT 302.22 682.25 Td (1% ) Tj ET Q q 0 0 0 rg BT 318.06 682.25 Td (of ) Tj ET Q q 0 0 0 rg BT 328.91 682.25 Td (the ) Tj ET Q q 0 0 0 rg BT 343.64 682.25 Td (purchase ) Tj ET Q q 0 0 0 rg BT 381.69 682.25 Td (price ) Tj ET Q q 0 0 0 rg BT 404.19 682.25 Td (of ) Tj ET Q q 0 0 0 rg BT 415.04 682.25 Td (every ) Tj ET Q q 0 0 0 rg BT 439.76 682.25 Td (new ) Tj ET Q q 0 0 0 rg BT 458.93 682.25 Td (vessel ) Tj ET Q q 0 0 0 rg BT 485.89 682.25 Td (purchased ) Tj ET Q q 0 0 0 rg BT 528.94 682.25 Td (to ) Tj ET Q q 0 0 0 rg BT 539.23 682.25 Td (Eagle ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 670.25 Td (Shipping ) Tj ET Q q 0 0 0 rg BT 89.18 670.25 Td (LLC ) Tj ET Q q 0 0 0 rg BT 111.13 670.25 Td (which ) Tj ET Q q 0 0 0 rg BT 138.64 670.25 Td (amounted ) Tj ET Q q 0 0 0 rg BT 181.13 670.25 Td (to ) Tj ET Q q 0 0 0 rg BT 191.98 670.25 Td ($0.4 ) Tj ET Q q 0 0 0 rg BT 212.54 670.25 Td (million ) Tj ET Q q 0 0 0 rg BT 244.49 670.25 Td (for ) Tj ET Q q 0 0 0 rg BT 259.22 670.25 Td (the ) Tj ET Q q 0 0 0 rg BT 274.50 670.25 Td (year ) Tj ET Q q 0 0 0 rg BT 294.77 670.25 Td (ended ) Tj ET Q q 0 0 0 rg BT 321.71 670.25 Td (December ) Tj ET Q q 0 0 0 rg BT 365.86 670.25 Td (31, ) Tj ET Q q 0 0 0 rg BT 381.42 670.25 Td (2017, ) Tj ET Q q 0 0 0 rg BT 406.99 670.25 Td (which ) Tj ET Q q 0 0 0 rg BT 434.49 670.25 Td (is ) Tj ET Q q 0 0 0 rg BT 444.22 670.25 Td (included ) Tj ET Q q 0 0 0 rg BT 481.72 670.25 Td (in ) Tj ET Q q 0 0 0 rg BT 492.56 670.25 Td (vessel ) Tj ET Q q 0 0 0 rg BT 520.07 670.25 Td (and ) Tj ET Q q 0 0 0 rg BT 537.57 670.25 Td (vessel ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 658.25 Td (improvements ) Tj ET Q q 0 0 0 rg BT 109.49 658.25 Td (in ) Tj ET Q q 0 0 0 rg BT 119.54 658.25 Td (the ) Tj ET Q q 0 0 0 rg BT 134.03 658.25 Td (consolidated ) Tj ET Q q 0 0 0 rg BT 186.85 658.25 Td (balance ) Tj ET Q q 0 0 0 rg BT 219.65 658.25 Td (sheet ) Tj ET Q q 0 0 0 rg BT 242.47 658.25 Td (as ) Tj ET Q q 0 0 0 rg BT 253.08 658.25 Td (of ) Tj ET Q q 0 0 0 rg BT 263.68 658.25 Td (December ) Tj ET Q q 0 0 0 rg BT 307.04 658.25 Td (31, ) Tj ET Q q 0 0 0 rg BT 321.82 658.25 Td (2017. ) Tj ET Q q 0 0 0 rg BT 346.09 658.25 Td (An ) Tj ET Q q 0 0 0 rg BT 360.58 658.25 Td (additional ) Tj ET Q q 0 0 0 rg BT 402.85 658.25 Td (vessel ) Tj ET Q q 0 0 0 rg BT 429.56 658.25 Td (was ) Tj ET Q q 0 0 0 rg BT 447.39 658.25 Td (added ) Tj ET Q q 0 0 0 rg BT 473.54 658.25 Td (to ) Tj ET Q q 0 0 0 rg BT 483.59 658.25 Td (the ) Tj ET Q q 0 0 0 rg BT 498.08 658.25 Td (agreement ) Tj ET Q q 0 0 0 rg BT 542.00 658.25 Td (upon ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 646.25 Td (delivery ) Tj ET Q q 0 0 0 rg BT 85.26 646.25 Td (of ) Tj ET Q q 0 0 0 rg BT 96.09 646.25 Td (the ) Tj ET Q q 0 0 0 rg BT 110.81 646.25 Td (Singapore ) Tj ET Q q 0 0 0 rg BT 153.86 646.25 Td (Eagle ) Tj ET Q q 0 0 0 rg BT 179.12 646.25 Td (in ) Tj ET Q q 0 0 0 rg BT 189.40 646.25 Td (January ) Tj ET Q q 0 0 0 rg BT 223.00 646.25 Td (2017. ) Tj ET Q q 0 0 0 rg BT 248.00 646.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 622.25 Td ( ) Tj ET Q q 0 0 0 rg BT 86.00 622.25 Td (On ) Tj ET Q q 0 0 0 rg BT 100.55 622.25 Td (December ) Tj ET Q q 0 0 0 rg BT 143.96 622.25 Td (8, ) Tj ET Q q 0 0 0 rg BT 153.78 622.25 Td (2017, ) Tj ET Q q 0 0 0 rg BT 178.61 622.25 Td (Shipco ) Tj ET Q q 0 0 0 rg BT 208.71 622.25 Td (cancelled ) Tj ET Q q 0 0 0 rg BT 248.79 622.25 Td (the ) Tj ET Q q 0 0 0 rg BT 263.33 622.25 Td (above ) Tj ET Q q 0 0 0 rg BT 289.53 622.25 Td (existing ) Tj ET Q q 0 0 0 rg BT 323.52 622.25 Td (agreement ) Tj ET Q q 0 0 0 rg BT 367.49 622.25 Td (and ) Tj ET Q q 0 0 0 rg BT 384.25 622.25 Td (entered ) Tj ET Q q 0 0 0 rg BT 416.00 622.25 Td (into ) Tj ET Q q 0 0 0 rg BT 433.89 622.25 Td (a ) Tj ET Q q 0 0 0 rg BT 440.65 622.25 Td (new ) Tj ET Q q 0 0 0 rg BT 459.64 622.25 Td (commercial ) Tj ET Q q 0 0 0 rg BT 509.16 622.25 Td (and ) Tj ET Q q 0 0 0 rg BT 525.92 622.25 Td (technical ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 610.25 Td (management ) Tj ET Q q 0 0 0 rg BT 103.31 610.25 Td (agreement ) Tj ET Q q 0 0 0 rg BT 147.18 610.25 Td (with ) Tj ET Q q 0 0 0 rg BT 167.18 610.25 Td (Eagle ) Tj ET Q q 0 0 0 rg BT 192.17 610.25 Td (Bulk ) Tj ET Q q 0 0 0 rg BT 213.84 610.25 Td (Management ) Tj ET Q q 0 0 0 rg BT 268.27 610.25 Td (LLC, ) Tj ET Q q 0 0 0 rg BT 291.88 610.25 Td (a ) Tj ET Q q 0 0 0 rg BT 298.54 610.25 Td (wholly-owned ) Tj ET Q q 0 0 0 rg BT 358.53 610.25 Td (subsidiary ) Tj ET Q q 0 0 0 rg BT 401.87 610.25 Td (of ) Tj ET Q q 0 0 0 rg BT 412.42 610.25 Td (the ) Tj ET Q q 0 0 0 rg BT 426.86 610.25 Td (Parent ) Tj ET Q q 0 0 0 rg BT 454.63 610.25 Td (Company) Tj ET Q q 0 0 0 rg BT 492.87 610.25 Td (, ) Tj ET Q q 0 0 0 rg BT 497.59 610.25 Td (for ) Tj ET Q q 0 0 0 rg BT 511.48 610.25 Td (performance ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 598.25 Td (of ) Tj ET Q q 0 0 0 rg BT 61.07 598.25 Td (technical ) Tj ET Q q 0 0 0 rg BT 99.89 598.25 Td (and ) Tj ET Q q 0 0 0 rg BT 117.06 598.25 Td (commercial ) Tj ET Q q 0 0 0 rg BT 167.00 598.25 Td (services ) Tj ET Q q 0 0 0 rg BT 201.94 598.25 Td (to ) Tj ET Q q 0 0 0 rg BT 212.46 598.25 Td (28 ) Tj ET Q q 0 0 0 rg BT 225.19 598.25 Td (vessels ) Tj ET Q q 0 0 0 rg BT 256.26 598.25 Td (owned ) Tj ET Q q 0 0 0 rg BT 285.65 598.25 Td (by ) Tj ET Q q 0 0 0 rg BT 298.39 598.25 Td (Shipco ) Tj ET Q q 0 0 0 rg BT 328.90 598.25 Td (at ) Tj ET Q q 0 0 0 rg BT 338.86 598.25 Td (a ) Tj ET Q q 0 0 0 rg BT 346.03 598.25 Td (fee ) Tj ET Q q 0 0 0 rg BT 360.97 598.25 Td (of ) Tj ET Q q 0 0 0 rg BT 372.04 598.25 Td ($150,000 ) Tj ET Q q 0 0 0 rg BT 412.27 598.25 Td (per ) Tj ET Q q 0 0 0 rg BT 427.78 598.25 Td (vessel ) Tj ET Q q 0 0 0 rg BT 454.95 598.25 Td (per ) Tj ET Q q 0 0 0 rg BT 470.46 598.25 Td (annum ) Tj ET Q q 0 0 0 rg BT 500.41 598.25 Td (for ) Tj ET Q q 0 0 0 rg BT 514.81 598.25 Td (commercial ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 586.25 Td (management ) Tj ET Q q 0 0 0 rg BT 103.82 586.25 Td (services ) Tj ET Q q 0 0 0 rg BT 138.75 586.25 Td (and ) Tj ET Q q 0 0 0 rg BT 155.92 586.25 Td ($135,000 ) Tj ET Q q 0 0 0 rg BT 196.15 586.25 Td (per ) Tj ET Q q 0 0 0 rg BT 211.65 586.25 Td (vessel ) Tj ET Q q 0 0 0 rg BT 238.81 586.25 Td (per ) Tj ET Q q 0 0 0 rg BT 254.31 586.25 Td (annum ) Tj ET Q q 0 0 0 rg BT 284.25 586.25 Td (for ) Tj ET Q q 0 0 0 rg BT 298.64 586.25 Td (technical ) Tj ET Q q 0 0 0 rg BT 337.46 586.25 Td (management ) Tj ET Q q 0 0 0 rg BT 391.28 586.25 Td (services. ) Tj ET Q q 0 0 0 rg BT 428.11 586.25 Td (Additionally) Tj ET Q q 0 0 0 rg BT 478.01 586.25 Td (, ) Tj ET Q q 0 0 0 rg BT 483.24 586.25 Td (Shipco ) Tj ET Q q 0 0 0 rg BT 513.75 586.25 Td (also ) Tj ET Q q 0 0 0 rg BT 532.59 586.25 Td (entered ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 574.25 Td (into ) Tj ET Q q 0 0 0 rg BT 68.17 574.25 Td (an ) Tj ET Q q 0 0 0 rg BT 80.22 574.25 Td (overhead ) Tj ET Q q 0 0 0 rg BT 119.48 574.25 Td (sharing ) Tj ET Q q 0 0 0 rg BT 151.53 574.25 Td (agreement ) Tj ET Q q 0 0 0 rg BT 195.78 574.25 Td (which ) Tj ET Q q 0 0 0 rg BT 222.83 574.25 Td (provides ) Tj ET Q q 0 0 0 rg BT 259.88 574.25 Td (for ) Tj ET Q q 0 0 0 rg BT 274.16 574.25 Td (an ) Tj ET Q q 0 0 0 rg BT 286.21 574.25 Td (additional ) Tj ET Q q 0 0 0 rg BT 328.81 574.25 Td (fee ) Tj ET Q q 0 0 0 rg BT 343.63 574.25 Td (allocation ) Tj ET Q q 0 0 0 rg BT 385.67 574.25 Td (of ) Tj ET Q q 0 0 0 rg BT 396.61 574.25 Td (cash ) Tj ET Q q 0 0 0 rg BT 416.99 574.25 Td (general ) Tj ET Q q 0 0 0 rg BT 449.03 574.25 Td (and ) Tj ET Q q 0 0 0 rg BT 466.08 574.25 Td (administrative ) Tj ET Q q 0 0 0 rg BT 525.90 574.25 Td (expenses ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 562.25 Td (of ) Tj ET Q q 0 0 0 rg BT 61.83 562.25 Td (Eagle ) Tj ET Q q 0 0 0 rg BT 88.08 562.25 Td (Bulk ) Tj ET Q q 0 0 0 rg BT 111.03 562.25 Td (Management ) Tj ET Q q 0 0 0 rg BT 166.72 562.25 Td (LLC, ) Tj ET Q q 0 0 0 rg BT 191.61 562.25 Td (less ) Tj ET Q q 0 0 0 rg BT 210.10 562.25 Td (the ) Tj ET Q q 0 0 0 rg BT 225.81 562.25 Td (technical ) Tj ET Q q 0 0 0 rg BT 265.40 562.25 Td (and ) Tj ET Q q 0 0 0 rg BT 283.33 562.25 Td (commercial ) Tj ET Q q 0 0 0 rg BT 334.02 562.25 Td (management ) Tj ET Q q 0 0 0 rg BT 388.61 562.25 Td (fees ) Tj ET Q q 0 0 0 rg BT 408.20 562.25 Td (already ) Tj ET Q q 0 0 0 rg BT 441.12 562.25 Td (paid, ) Tj ET Q q 0 0 0 rg BT 464.33 562.25 Td (based ) Tj ET Q q 0 0 0 rg BT 490.60 562.25 Td (on ) Tj ET Q q 0 0 0 rg BT 504.09 562.25 Td (relative ) Tj ET Q q 0 0 0 rg BT 537.57 562.25 Td (vessel ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 550.25 Td (ownership ) Tj ET Q q 0 0 0 rg BT 94.21 550.25 Td (days ) Tj ET Q q 0 0 0 rg BT 115.08 550.25 Td (of ) Tj ET Q q 0 0 0 rg BT 125.96 550.25 Td (Shipco ) Tj ET Q q 0 0 0 rg BT 156.28 550.25 Td (to ) Tj ET Q q 0 0 0 rg BT 166.60 550.25 Td (the ) Tj ET Q q 0 0 0 rg BT 181.37 550.25 Td (total ) Tj ET Q q 0 0 0 rg BT 201.69 550.25 Td (consolidated ) Tj ET Q q 0 0 0 rg BT 254.77 550.25 Td (vessel ) Tj ET Q q 0 0 0 rg BT 281.76 550.25 Td (ownership ) Tj ET Q q 0 0 0 rg BT 325.96 550.25 Td (days ) Tj ET Q q 0 0 0 rg BT 346.84 550.25 Td (of ) Tj ET Q q 0 0 0 rg BT 357.71 550.25 Td (the ) Tj ET Q q 0 0 0 rg BT 372.48 550.25 Td (Parent ) Tj ET Q q 0 0 0 rg BT 400.57 550.25 Td (Company ) Tj ET Q q 0 0 0 rg BT 442.00 550.25 Td (and ) Tj ET Q q 0 0 0 rg BT 458.98 550.25 Td (all ) Tj ET Q q 0 0 0 rg BT 471.52 550.25 Td (of ) Tj ET Q q 0 0 0 rg BT 482.40 550.25 Td (its ) Tj ET Q q 0 0 0 rg BT 494.39 550.25 Td (subsidiaries. ) Tj ET Q q 0 0 0 rg BT 546.47 550.25 Td (The ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 538.25 Td (term ) Tj ET Q q 0 0 0 rg BT 70.21 538.25 Td (of ) Tj ET Q q 0 0 0 rg BT 80.42 538.25 Td (the ) Tj ET Q q 0 0 0 rg BT 94.52 538.25 Td (agreements ) Tj ET Q q 0 0 0 rg BT 141.93 538.25 Td (shall ) Tj ET Q q 0 0 0 rg BT 162.70 538.25 Td (continue ) Tj ET Q q 0 0 0 rg BT 199.01 538.25 Td (thereafter ) Tj ET Q q 0 0 0 rg BT 239.19 538.25 Td (until ) Tj ET Q q 0 0 0 rg BT 259.41 538.25 Td (terminated ) Tj ET Q q 0 0 0 rg BT 304.05 538.25 Td (in ) Tj ET Q q 0 0 0 rg BT 313.71 538.25 Td (writing ) Tj ET Q q 0 0 0 rg BT 344.48 538.25 Td (by ) Tj ET Q q 0 0 0 rg BT 356.36 538.25 Td (one ) Tj ET Q q 0 0 0 rg BT 372.68 538.25 Td (of ) Tj ET Q q 0 0 0 rg BT 382.89 538.25 Td (the ) Tj ET Q q 0 0 0 rg BT 396.99 538.25 Td (parties. ) Tj ET Q q 0 0 0 rg BT 427.89 538.25 Td (The ) Tj ET Q q 0 0 0 rg BT 445.32 538.25 Td (agreement ) Tj ET Q q 0 0 0 rg BT 488.84 538.25 Td (may ) Tj ET Q q 0 0 0 rg BT 507.94 538.25 Td (be ) Tj ET Q q 0 0 0 rg BT 519.26 538.25 Td (terminated ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 526.25 Td (with ) Tj ET Q q 0 0 0 rg BT 70.28 526.25 Td (or ) Tj ET Q q 0 0 0 rg BT 81.11 526.25 Td (without ) Tj ET Q q 0 0 0 rg BT 114.17 526.25 Td (cause ) Tj ET Q q 0 0 0 rg BT 138.87 526.25 Td (by ) Tj ET Q q 0 0 0 rg BT 151.37 526.25 Td (any ) Tj ET Q q 0 0 0 rg BT 168.31 526.25 Td (party ) Tj ET Q q 0 0 0 rg BT 191.36 526.25 Td (upon ) Tj ET Q q 0 0 0 rg BT 213.86 526.25 Td (30 ) Tj ET Q q 0 0 0 rg BT 226.36 526.25 Td (days' ) Tj ET Q q 0 0 0 rg BT 248.99 526.25 Td (prior ) Tj ET Q q 0 0 0 rg BT 270.93 526.25 Td (written ) Tj ET Q q 0 0 0 rg BT 301.75 526.25 Td (notice ) Tj ET Q q 0 0 0 rg BT 328.69 526.25 Td (to ) Tj ET Q q 0 0 0 rg BT 338.96 526.25 Td (other ) Tj ET Q q 0 0 0 rg BT 362.01 526.25 Td (parties.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 502.25 Td ( ) Tj ET Q q 0 0 0 rg BT 86.00 502.25 Td (For ) Tj ET Q q 0 0 0 rg BT 101.27 502.25 Td (the ) Tj ET Q q 0 0 0 rg BT 114.86 502.25 Td (three ) Tj ET Q q 0 0 0 rg BT 136.21 502.25 Td (and ) Tj ET Q q 0 0 0 rg BT 152.03 502.25 Td (nine ) Tj ET Q q 0 0 0 rg BT 170.62 502.25 Td (months ) Tj ET Q q 0 0 0 rg BT 201.44 502.25 Td (ended ) Tj ET Q q 0 0 0 rg BT 226.69 502.25 Td (September ) Tj ET Q q 0 0 0 rg BT 270.83 502.25 Td (30, ) Tj ET Q q 0 0 0 rg BT 284.70 502.25 Td (2018, ) Tj ET Q q 0 0 0 rg BT 308.57 502.25 Td (the ) Tj ET Q q 0 0 0 rg BT 322.16 502.25 Td (Company ) Tj ET Q q 0 0 0 rg BT 362.42 502.25 Td (incurred ) Tj ET Q q 0 0 0 rg BT 397.11 502.25 Td ($2.0 ) Tj ET Q q 0 0 0 rg BT 415.99 502.25 Td (million ) Tj ET Q q 0 0 0 rg BT 446.25 502.25 Td (and ) Tj ET Q q 0 0 0 rg BT 462.06 502.25 Td ($5.9 ) Tj ET Q q 0 0 0 rg BT 480.94 502.25 Td (million, ) Tj ET Q q 0 0 0 rg BT 513.70 502.25 Td (respectively ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 490.25 Td (for ) Tj ET Q q 0 0 0 rg BT 64.41 490.25 Td (technical ) Tj ET Q q 0 0 0 rg BT 103.25 490.25 Td (and ) Tj ET Q q 0 0 0 rg BT 120.44 490.25 Td (commercial ) Tj ET Q q 0 0 0 rg BT 170.39 490.25 Td (management ) Tj ET Q q 0 0 0 rg BT 224.23 490.25 Td (fees ) Tj ET Q q 0 0 0 rg BT 243.08 490.25 Td (to ) Tj ET Q q 0 0 0 rg BT 253.60 490.25 Td (Eagle ) Tj ET Q q 0 0 0 rg BT 279.12 490.25 Td (Bulk ) Tj ET Q q 0 0 0 rg BT 301.32 490.25 Td (Management ) Tj ET Q q 0 0 0 rg BT 356.27 490.25 Td (LLC ) Tj ET Q q 0 0 0 rg BT 377.91 490.25 Td (for ) Tj ET Q q 0 0 0 rg BT 392.32 490.25 Td (the ) Tj ET Q q 0 0 0 rg BT 407.28 490.25 Td (28 ) Tj ET Q q 0 0 0 rg BT 420.04 490.25 Td (vessels. ) Tj ET Q q 0 0 0 rg BT 453.01 490.25 Td (Additionally) Tj ET Q q 0 0 0 rg BT 502.91 490.25 Td (, ) Tj ET Q q 0 0 0 rg BT 508.16 490.25 Td (the ) Tj ET Q q 0 0 0 rg BT 523.13 490.25 Td (Company ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 478.25 Td (incurred ) Tj ET Q q 0 0 0 rg BT 86.23 478.25 Td ($1.7 ) Tj ET Q q 0 0 0 rg BT 106.65 478.25 Td (million ) Tj ET Q q 0 0 0 rg BT 138.46 478.25 Td (and ) Tj ET Q q 0 0 0 rg BT 155.82 478.25 Td ( ) Tj ET Q q 0 0 0 rg BT 158.74 478.25 Td ($4.9 ) Tj ET Q q 0 0 0 rg BT 179.16 478.25 Td (million, ) Tj ET Q q 0 0 0 rg BT 213.47 478.25 Td (respectively ) Tj ET Q q 0 0 0 rg BT 264.70 478.25 Td (as ) Tj ET Q q 0 0 0 rg BT 275.95 478.25 Td (additional ) Tj ET Q q 0 0 0 rg BT 318.86 478.25 Td (fee ) Tj ET Q q 0 0 0 rg BT 333.98 478.25 Td (allocation ) Tj ET Q q 0 0 0 rg BT 376.33 478.25 Td (as ) Tj ET Q q 0 0 0 rg BT 387.58 478.25 Td (per ) Tj ET Q q 0 0 0 rg BT 403.27 478.25 Td (the ) Tj ET Q q 0 0 0 rg BT 418.40 478.25 Td (overhead ) Tj ET Q q 0 0 0 rg BT 457.97 478.25 Td (sharing ) Tj ET Q q 0 0 0 rg BT 490.33 478.25 Td (agreement. ) Tj ET Q q 0 0 0 rg BT 537.38 478.25 Td ( ) Tj ET Q q 0 0 0 rg BT 539.66 478.25 Td (As ) Tj ET Q q 0 0 0 rg BT 553.69 478.25 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 466.25 Td (September ) Tj ET Q q 0 0 0 rg BT 95.23 466.25 Td (30, ) Tj ET Q q 0 0 0 rg BT 110.19 466.25 Td (2018, ) Tj ET Q q 0 0 0 rg BT 135.16 466.25 Td (the ) Tj ET Q q 0 0 0 rg BT 149.84 466.25 Td (Company ) Tj ET Q q 0 0 0 rg BT 191.19 466.25 Td (owed ) Tj ET Q q 0 0 0 rg BT 215.32 466.25 Td ($1.3 ) Tj ET Q q 0 0 0 rg BT 235.28 466.25 Td (million ) Tj ET Q q 0 0 0 rg BT 266.64 466.25 Td (to ) Tj ET Q q 0 0 0 rg BT 276.88 466.25 Td (Eagle ) Tj ET Q q 0 0 0 rg BT 302.11 466.25 Td (Bulk ) Tj ET Q q 0 0 0 rg BT 324.02 466.25 Td (Management ) Tj ET Q q 0 0 0 rg BT 378.69 466.25 Td (LLC ) Tj ET Q q 0 0 0 rg BT 400.04 466.25 Td (which ) Tj ET Q q 0 0 0 rg BT 426.94 466.25 Td (is ) Tj ET Q q 0 0 0 rg BT 436.08 466.25 Td (included ) Tj ET Q q 0 0 0 rg BT 472.98 466.25 Td (in ) Tj ET Q q 0 0 0 rg BT 483.22 466.25 Td (accounts ) Tj ET Q q 0 0 0 rg BT 520.67 466.25 Td (payable ) Tj ET Q q 0 0 0 rg BT 554.23 466.25 Td (in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 454.25 Td (the ) Tj ET Q q 0 0 0 rg BT 64.72 454.25 Td (condensed ) Tj ET Q q 0 0 0 rg BT 109.42 454.25 Td (consolidated ) Tj ET Q q 0 0 0 rg BT 162.47 454.25 Td (balance ) Tj ET Q q 0 0 0 rg BT 195.50 454.25 Td (sheet.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 430.25 Td ( ) Tj ET Q q 0 0 0 rg BT 86.00 430.25 Td (For ) Tj ET Q q 0 0 0 rg BT 102.65 430.25 Td (the ) Tj ET Q q 0 0 0 rg BT 117.63 430.25 Td (three ) Tj ET Q q 0 0 0 rg BT 140.38 430.25 Td (and ) Tj ET Q q 0 0 0 rg BT 157.58 430.25 Td (nine ) Tj ET Q q 0 0 0 rg BT 177.56 430.25 Td (months ) Tj ET Q q 0 0 0 rg BT 209.76 430.25 Td (ended ) Tj ET Q q 0 0 0 rg BT 236.40 430.25 Td (September ) Tj ET Q q 0 0 0 rg BT 281.93 430.25 Td (30, ) Tj ET Q q 0 0 0 rg BT 297.19 430.25 Td (2017, ) Tj ET Q q 0 0 0 rg BT 322.45 430.25 Td (the ) Tj ET Q q 0 0 0 rg BT 337.43 430.25 Td (Company ) Tj ET Q q 0 0 0 rg BT 379.08 430.25 Td (was ) Tj ET Q q 0 0 0 rg BT 397.39 430.25 Td (allocated ) Tj ET Q q 0 0 0 rg BT 436.24 430.25 Td ($4.3 ) Tj ET Q q 0 0 0 rg BT 456.50 430.25 Td (million ) Tj ET Q q 0 0 0 rg BT 488.15 430.25 Td (and ) Tj ET Q q 0 0 0 rg BT 505.35 430.25 Td ($12.2 ) Tj ET Q q 0 0 0 rg BT 530.61 430.25 Td (million, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 418.25 Td (respectively ) Tj ET Q q 0 0 0 rg BT 101.00 418.25 Td (as ) Tj ET Q q 0 0 0 rg BT 112.02 418.25 Td (its ) Tj ET Q q 0 0 0 rg BT 124.16 418.25 Td (share ) Tj ET Q q 0 0 0 rg BT 147.96 418.25 Td (of ) Tj ET Q q 0 0 0 rg BT 158.98 418.25 Td (the ) Tj ET Q q 0 0 0 rg BT 173.89 418.25 Td (total ) Tj ET Q q 0 0 0 rg BT 194.35 418.25 Td (consolidated ) Tj ET Q q 0 0 0 rg BT 247.58 418.25 Td (cash ) Tj ET Q q 0 0 0 rg BT 268.05 418.25 Td (general ) Tj ET Q q 0 0 0 rg BT 300.16 418.25 Td (and ) Tj ET Q q 0 0 0 rg BT 317.29 418.25 Td (administrative ) Tj ET Q q 0 0 0 rg BT 377.19 418.25 Td (expenses ) Tj ET Q q 0 0 0 rg BT 415.98 418.25 Td (of ) Tj ET Q q 0 0 0 rg BT 427.00 418.25 Td (the ) Tj ET Q q 0 0 0 rg BT 441.91 418.25 Td (Parent ) Tj ET Q q 0 0 0 rg BT 470.15 418.25 Td (Company ) Tj ET Q q 0 0 0 rg BT 511.73 418.25 Td (and ) Tj ET Q q 0 0 0 rg BT 528.86 418.25 Td (all ) Tj ET Q q 0 0 0 rg BT 541.55 418.25 Td (of ) Tj ET Q q 0 0 0 rg BT 552.57 418.25 Td (its ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 406.25 Td (subsidiaries ) Tj ET Q q 0 0 0 rg BT 100.32 406.25 Td (on ) Tj ET Q q 0 0 0 rg BT 113.42 406.25 Td (the ) Tj ET Q q 0 0 0 rg BT 128.73 406.25 Td (same ) Tj ET Q q 0 0 0 rg BT 152.38 406.25 Td (basis ) Tj ET Q q 0 0 0 rg BT 175.48 406.25 Td (as ) Tj ET Q q 0 0 0 rg BT 186.91 406.25 Td (the ) Tj ET Q q 0 0 0 rg BT 202.22 406.25 Td (new ) Tj ET Q q 0 0 0 rg BT 221.98 406.25 Td (commercial ) Tj ET Q q 0 0 0 rg BT 272.28 406.25 Td (and ) Tj ET Q q 0 0 0 rg BT 289.82 406.25 Td (technical ) Tj ET Q q 0 0 0 rg BT 329.01 406.25 Td (management ) Tj ET Q q 0 0 0 rg BT 383.20 406.25 Td (agreements, ) Tj ET Q q 0 0 0 rg BT 434.33 406.25 Td (as ) Tj ET Q q 0 0 0 rg BT 445.76 406.25 Td (well ) Tj ET Q q 0 0 0 rg BT 466.07 406.25 Td (as ) Tj ET Q q 0 0 0 rg BT 477.50 406.25 Td (the ) Tj ET Q q 0 0 0 rg BT 492.82 406.25 Td (overhead ) Tj ET Q q 0 0 0 rg BT 532.57 406.25 Td (sharing ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 394.25 Td (agreement, ) Tj ET Q q 0 0 0 rg BT 97.46 394.25 Td (which ) Tj ET Q q 0 0 0 rg BT 125.21 394.25 Td (was ) Tj ET Q q 0 0 0 rg BT 144.08 394.25 Td (recorded ) Tj ET Q q 0 0 0 rg BT 182.37 394.25 Td (as ) Tj ET Q q 0 0 0 rg BT 194.01 394.25 Td (a ) Tj ET Q q 0 0 0 rg BT 201.77 394.25 Td (capital ) Tj ET Q q 0 0 0 rg BT 231.73 394.25 Td (contribution ) Tj ET Q q 0 0 0 rg BT 283.93 394.25 Td (from ) Tj ET Q q 0 0 0 rg BT 306.68 394.25 Td (the ) Tj ET Q q 0 0 0 rg BT 322.22 394.25 Td (Parent ) Tj ET Q q 0 0 0 rg BT 351.08 394.25 Td (Company ) Tj ET Q q 0 0 0 rg BT 393.28 394.25 Td (in ) Tj ET Q q 0 0 0 rg BT 404.38 394.25 Td (the ) Tj ET Q q 0 0 0 rg BT 419.91 394.25 Td (condensed ) Tj ET Q q 0 0 0 rg BT 465.43 394.25 Td (statement ) Tj ET Q q 0 0 0 rg BT 507.07 394.25 Td (of ) Tj ET Q q 0 0 0 rg BT 518.71 394.25 Td (changes ) Tj ET Q q 0 0 0 rg BT 554.23 394.25 Td (in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 382.25 Td (member's ) Tj ET Q q 0 0 0 rg BT 90.96 382.25 Td (equity ) Tj ET Q q 0 0 0 rg BT 118.45 382.25 Td (for ) Tj ET Q q 0 0 0 rg BT 132.61 382.25 Td (the ) Tj ET Q q 0 0 0 rg BT 147.33 382.25 Td (nine ) Tj ET Q q 0 0 0 rg BT 167.05 382.25 Td (months ) Tj ET Q q 0 0 0 rg BT 198.99 382.25 Td (ended ) Tj ET Q q 0 0 0 rg BT 225.37 382.25 Td (September ) Tj ET Q q 0 0 0 rg BT 270.63 382.25 Td (30, ) Tj ET Q q 0 0 0 rg BT 285.63 382.25 Td (2017.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 358.25 Td ( ) Tj ET Q q 0 0 0 rg BT 86.00 358.25 Td (During ) Tj ET Q q 0 0 0 rg BT 117.31 358.25 Td (the ) Tj ET Q q 0 0 0 rg BT 132.50 358.25 Td (nine ) Tj ET Q q 0 0 0 rg BT 152.69 358.25 Td (months ) Tj ET Q q 0 0 0 rg BT 185.11 358.25 Td (ended ) Tj ET Q q 0 0 0 rg BT 211.96 358.25 Td (September ) Tj ET Q q 0 0 0 rg BT 257.70 358.25 Td (30, ) Tj ET Q q 0 0 0 rg BT 273.18 358.25 Td (2017, ) Tj ET Q q 0 0 0 rg BT 298.65 358.25 Td (Shipco ) Tj ET Q q 0 0 0 rg BT 329.41 358.25 Td (entered ) Tj ET Q q 0 0 0 rg BT 361.81 358.25 Td (into ) Tj ET Q q 0 0 0 rg BT 380.34 358.25 Td (time ) Tj ET Q q 0 0 0 rg BT 401.09 358.25 Td (charter ) Tj ET Q q 0 0 0 rg BT 431.81 358.25 Td (agreements ) Tj ET Q q 0 0 0 rg BT 480.32 358.25 Td (with ) Tj ET Q q 0 0 0 rg BT 501.08 358.25 Td (Eagle ) Tj ET Q q 0 0 0 rg BT 526.81 358.25 Td (Bulk ) Tj ET Q q 0 0 0 rg BT 549.24 358.25 Td (Pte ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 346.25 Td (Ltd, ) Tj ET Q q 0 0 0 rg BT 68.64 346.25 Td (a ) Tj ET Q q 0 0 0 rg BT 75.33 346.25 Td (wholly-owned ) Tj ET Q q 0 0 0 rg BT 135.35 346.25 Td (subsidiary ) Tj ET Q q 0 0 0 rg BT 178.72 346.25 Td (of ) Tj ET Q q 0 0 0 rg BT 189.30 346.25 Td (the ) Tj ET Q q 0 0 0 rg BT 203.77 346.25 Td (Parent ) Tj ET Q q 0 0 0 rg BT 231.57 346.25 Td (Company) Tj ET Q q 0 0 0 rg BT 269.81 346.25 Td (, ) Tj ET Q q 0 0 0 rg BT 274.56 346.25 Td (where ) Tj ET Q q 0 0 0 rg BT 301.24 346.25 Td (Eagle ) Tj ET Q q 0 0 0 rg BT 326.26 346.25 Td (Bulk ) Tj ET Q q 0 0 0 rg BT 347.96 346.25 Td (Pte ) Tj ET Q q 0 0 0 rg BT 362.99 346.25 Td (Ltd ) Tj ET Q q 0 0 0 rg BT 379.13 346.25 Td (chartered-in ) Tj ET Q q 0 0 0 rg BT 429.69 346.25 Td (the ) Tj ET Q q 0 0 0 rg BT 444.16 346.25 Td (vessels ) Tj ET Q q 0 0 0 rg BT 474.74 346.25 Td (to ) Tj ET Q q 0 0 0 rg BT 484.77 346.25 Td (perform ) Tj ET Q q 0 0 0 rg BT 519.23 346.25 Td (third-party ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 334.25 Td (voyages. ) Tj ET Q q 0 0 0 rg BT 87.38 334.25 Td (For ) Tj ET Q q 0 0 0 rg BT 103.39 334.25 Td (the ) Tj ET Q q 0 0 0 rg BT 117.72 334.25 Td (three ) Tj ET Q q 0 0 0 rg BT 139.82 334.25 Td (and ) Tj ET Q q 0 0 0 rg BT 156.37 334.25 Td (nine ) Tj ET Q q 0 0 0 rg BT 175.70 334.25 Td (months ) Tj ET Q q 0 0 0 rg BT 207.26 334.25 Td (ended ) Tj ET Q q 0 0 0 rg BT 233.25 334.25 Td (September ) Tj ET Q q 0 0 0 rg BT 278.13 334.25 Td (30, ) Tj ET Q q 0 0 0 rg BT 292.74 334.25 Td (2017, ) Tj ET Q q 0 0 0 rg BT 317.35 334.25 Td (revenues ) Tj ET Q q 0 0 0 rg BT 355.00 334.25 Td (included ) Tj ET Q q 0 0 0 rg BT 391.55 334.25 Td ($2.4 ) Tj ET Q q 0 0 0 rg BT 411.16 334.25 Td (million ) Tj ET Q q 0 0 0 rg BT 442.17 334.25 Td (and ) Tj ET Q q 0 0 0 rg BT 458.72 334.25 Td ($7.3 ) Tj ET Q q 0 0 0 rg BT 478.33 334.25 Td (million, ) Tj ET Q q 0 0 0 rg BT 511.84 334.25 Td (respectively) Tj ET Q q 0 0 0 rg BT 559.50 334.25 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 322.25 Td (as ) Tj ET Q q 0 0 0 rg BT 60.77 322.25 Td (internal ) Tj ET Q q 0 0 0 rg BT 93.75 322.25 Td (charter ) Tj ET Q q 0 0 0 rg BT 123.95 322.25 Td (hire ) Tj ET Q q 0 0 0 rg BT 141.94 322.25 Td (income ) Tj ET Q q 0 0 0 rg BT 173.81 322.25 Td (from ) Tj ET Q q 0 0 0 rg BT 195.69 322.25 Td (Eagle ) Tj ET Q q 0 0 0 rg BT 220.90 322.25 Td (Bulk ) Tj ET Q q 0 0 0 rg BT 242.79 322.25 Td (Pte ) Tj ET Q q 0 0 0 rg BT 258.01 322.25 Td (Ltd. ) Tj ET Q q 0 0 0 rg BT 276.30 322.25 Td (As ) Tj ET Q q 0 0 0 rg BT 289.85 322.25 Td (of ) Tj ET Q q 0 0 0 rg BT 300.62 322.25 Td (September ) Tj ET Q q 0 0 0 rg BT 345.83 322.25 Td (30, ) Tj ET Q q 0 0 0 rg BT 360.77 322.25 Td (2018 ) Tj ET Q q 0 0 0 rg BT 383.21 322.25 Td (and ) Tj ET Q q 0 0 0 rg BT 400.09 322.25 Td (December ) Tj ET Q q 0 0 0 rg BT 443.62 322.25 Td (31, ) Tj ET Q q 0 0 0 rg BT 458.56 322.25 Td (2017, ) Tj ET Q q 0 0 0 rg BT 483.50 322.25 Td (accounts ) Tj ET Q q 0 0 0 rg BT 520.93 322.25 Td (receivable ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 310.25 Td (included ) Tj ET Q q 0 0 0 rg BT 86.93 310.25 Td (zero ) Tj ET Q q 0 0 0 rg BT 106.64 310.25 Td (and ) Tj ET Q q 0 0 0 rg BT 123.58 310.25 Td ($41,830, ) Tj ET Q q 0 0 0 rg BT 161.08 310.25 Td (respectively) Tj ET Q q 0 0 0 rg BT 208.74 310.25 Td (, ) Tj ET Q q 0 0 0 rg BT 213.74 310.25 Td (as ) Tj ET Q q 0 0 0 rg BT 224.57 310.25 Td (charter ) Tj ET Q q 0 0 0 rg BT 254.82 310.25 Td (hire ) Tj ET Q q 0 0 0 rg BT 272.87 310.25 Td (receivable ) Tj ET Q q 0 0 0 rg BT 316.45 310.25 Td (from ) Tj ET Q q 0 0 0 rg BT 338.39 310.25 Td (Eagle ) Tj ET Q q 0 0 0 rg BT 363.65 310.25 Td (Bulk ) Tj ET Q q 0 0 0 rg BT 385.60 310.25 Td (Pte ) Tj ET Q q 0 0 0 rg BT 400.88 310.25 Td (Ltd.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 298.25 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 274.25 Td (Note 7. Derivative instruments and Fair) Tj ET Q q 0 0 0 rg BT 219.79 274.25 Td ( value Measur) Tj ET Q q 0 0 0 rg BT 280.16 274.25 Td (ements) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 250.25 Td (Forwar) Tj ET Q q 0 0 0 rg BT 80.19 250.25 Td (d ) Tj ET Q q 0 0 0 rg BT 87.69 250.25 Td (fr) Tj ET Q q 0 0 0 rg BT 93.99 250.25 Td (eight ) Tj ET Q q 0 0 0 rg BT 116.48 250.25 Td (agr) Tj ET Q q 0 0 0 rg BT 130.00 250.25 Td (eements, ) Tj ET Q q 0 0 0 rg BT 167.21 250.25 Td (bunker ) Tj ET Q q 0 0 0 rg BT 197.48 250.25 Td (swaps ) Tj ET Q q 0 0 0 rg BT 224.43 250.25 Td (and ) Tj ET Q q 0 0 0 rg BT 241.93 250.25 Td (fr) Tj ET Q q 0 0 0 rg BT 248.23 250.25 Td (eight ) Tj ET Q q 0 0 0 rg BT 270.73 250.25 Td (derivatives) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 238.25 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 89.00 226.25 Td (The ) Tj ET Q q 0 0 0 rg BT 107.93 226.25 Td (Company ) Tj ET Q q 0 0 0 rg BT 150.20 226.25 Td (trades ) Tj ET Q q 0 0 0 rg BT 177.46 226.25 Td (in ) Tj ET Q q 0 0 0 rg BT 188.62 226.25 Td (forward ) Tj ET Q q 0 0 0 rg BT 223.66 226.25 Td (freight ) Tj ET Q q 0 0 0 rg BT 253.70 226.25 Td (agreements ) Tj ET Q q 0 0 0 rg BT 302.61 226.25 Td (\(FF) Tj ET Q q 0 0 0 rg BT 320.76 226.25 Td (As\) ) Tj ET Q q 0 0 0 rg BT 343.03 226.25 Td (and ) Tj ET Q q 0 0 0 rg BT 360.85 226.25 Td (bunker ) Tj ET Q q 0 0 0 rg BT 392.00 226.25 Td (swaps, ) Tj ET Q q 0 0 0 rg BT 422.33 226.25 Td (with ) Tj ET Q q 0 0 0 rg BT 443.49 226.25 Td (the ) Tj ET Q q 0 0 0 rg BT 459.09 226.25 Td (objective ) Tj ET Q q 0 0 0 rg BT 499.13 226.25 Td (of ) Tj ET Q q 0 0 0 rg BT 510.84 226.25 Td (utilizing ) Tj ET Q q 0 0 0 rg BT 547.55 226.25 Td (this ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 214.25 Td (market ) Tj ET Q q 0 0 0 rg BT 80.06 214.25 Td (as ) Tj ET Q q 0 0 0 rg BT 90.70 214.25 Td (economic ) Tj ET Q q 0 0 0 rg BT 131.87 214.25 Td (hedging ) Tj ET Q q 0 0 0 rg BT 166.39 214.25 Td (instruments ) Tj ET Q q 0 0 0 rg BT 215.35 214.25 Td (that ) Tj ET Q q 0 0 0 rg BT 232.65 214.25 Td (reduce ) Tj ET Q q 0 0 0 rg BT 261.60 214.25 Td (the ) Tj ET Q q 0 0 0 rg BT 276.12 214.25 Td (risk ) Tj ET Q q 0 0 0 rg BT 293.42 214.25 Td (of ) Tj ET Q q 0 0 0 rg BT 304.05 214.25 Td (specific ) Tj ET Q q 0 0 0 rg BT 337.44 214.25 Td (vessels ) Tj ET Q q 0 0 0 rg BT 368.07 214.25 Td (to ) Tj ET Q q 0 0 0 rg BT 378.15 214.25 Td (changes ) Tj ET Q q 0 0 0 rg BT 412.66 214.25 Td (in ) Tj ET Q q 0 0 0 rg BT 422.74 214.25 Td (the ) Tj ET Q q 0 0 0 rg BT 437.26 214.25 Td (freight ) Tj ET Q q 0 0 0 rg BT 466.22 214.25 Td (market. ) Tj ET Q q 0 0 0 rg BT 498.61 214.25 Td (The ) Tj ET Q q 0 0 0 rg BT 516.46 214.25 Td (Company) Tj ET Q q 0 0 0 rg BT 558.13 214.25 Td (s ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 202.25 Td (FF) Tj ET Q q 0 0 0 rg BT 60.38 202.25 Td (As ) Tj ET Q q 0 0 0 rg BT 73.75 202.25 Td (and ) Tj ET Q q 0 0 0 rg BT 90.45 202.25 Td (bunker ) Tj ET Q q 0 0 0 rg BT 120.48 202.25 Td (swaps ) Tj ET Q q 0 0 0 rg BT 147.18 202.25 Td (have ) Tj ET Q q 0 0 0 rg BT 168.31 202.25 Td (not ) Tj ET Q q 0 0 0 rg BT 183.35 202.25 Td (qualified ) Tj ET Q q 0 0 0 rg BT 221.15 202.25 Td (for ) Tj ET Q q 0 0 0 rg BT 235.07 202.25 Td (hedge ) Tj ET Q q 0 0 0 rg BT 261.20 202.25 Td (accounting ) Tj ET Q q 0 0 0 rg BT 307.33 202.25 Td (treatment. ) Tj ET Q q 0 0 0 rg BT 349.35 202.25 Td (As ) Tj ET Q q 0 0 0 rg BT 362.72 202.25 Td (such, ) Tj ET Q q 0 0 0 rg BT 385.81 202.25 Td (unrealized ) Tj ET Q q 0 0 0 rg BT 429.71 202.25 Td (and ) Tj ET Q q 0 0 0 rg BT 446.41 202.25 Td (realized ) Tj ET Q q 0 0 0 rg BT 480.31 202.25 Td (gains ) Tj ET Q q 0 0 0 rg BT 503.67 202.25 Td (are ) Tj ET Q q 0 0 0 rg BT 518.14 202.25 Td (recognized ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 190.25 Td (as ) Tj ET Q q 0 0 0 rg BT 60.61 190.25 Td (a ) Tj ET Q q 0 0 0 rg BT 67.32 190.25 Td (component ) Tj ET Q q 0 0 0 rg BT 114.03 190.25 Td (of ) Tj ET Q q 0 0 0 rg BT 124.63 190.25 Td (other ) Tj ET Q q 0 0 0 rg BT 147.46 190.25 Td (expense ) Tj ET Q q 0 0 0 rg BT 181.94 190.25 Td (in ) Tj ET Q q 0 0 0 rg BT 191.99 190.25 Td (the ) Tj ET Q q 0 0 0 rg BT 206.48 190.25 Td (condensed ) Tj ET Q q 0 0 0 rg BT 250.97 190.25 Td (consolidated ) Tj ET Q q 0 0 0 rg BT 303.78 190.25 Td (statement ) Tj ET Q q 0 0 0 rg BT 344.38 190.25 Td (of ) Tj ET Q q 0 0 0 rg BT 354.99 190.25 Td (operations ) Tj ET Q q 0 0 0 rg BT 398.92 190.25 Td (and ) Tj ET Q q 0 0 0 rg BT 415.63 190.25 Td (other ) Tj ET Q q 0 0 0 rg BT 438.45 190.25 Td (current ) Tj ET Q q 0 0 0 rg BT 469.04 190.25 Td (assets ) Tj ET Q q 0 0 0 rg BT 494.65 190.25 Td (and ) Tj ET Q q 0 0 0 rg BT 511.36 190.25 Td (Fair ) Tj ET Q q 0 0 0 rg BT 529.75 190.25 Td (value ) Tj ET Q q 0 0 0 rg BT 553.68 190.25 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 178.25 Td (derivatives ) Tj ET Q q 0 0 0 rg BT 96.60 178.25 Td (in ) Tj ET Q q 0 0 0 rg BT 107.11 178.25 Td (the ) Tj ET Q q 0 0 0 rg BT 122.06 178.25 Td (condensed ) Tj ET Q q 0 0 0 rg BT 166.99 178.25 Td (consolidated ) Tj ET Q q 0 0 0 rg BT 220.26 178.25 Td (balance ) Tj ET Q q 0 0 0 rg BT 253.53 178.25 Td (sheets. ) Tj ET Q q 0 0 0 rg BT 283.19 178.25 Td (Derivatives ) Tj ET Q q 0 0 0 rg BT 332.02 178.25 Td (are ) Tj ET Q q 0 0 0 rg BT 346.95 178.25 Td (considered ) Tj ET Q q 0 0 0 rg BT 393.00 178.25 Td (to ) Tj ET Q q 0 0 0 rg BT 403.51 178.25 Td (be ) Tj ET Q q 0 0 0 rg BT 415.67 178.25 Td (Level ) Tj ET Q q 0 0 0 rg BT 441.17 178.25 Td (2 ) Tj ET Q q 0 0 0 rg BT 448.90 178.25 Td (instruments ) Tj ET Q q 0 0 0 rg BT 498.29 178.25 Td (in ) Tj ET Q q 0 0 0 rg BT 508.80 178.25 Td (the ) Tj ET Q q 0 0 0 rg BT 523.75 178.25 Td (fair ) Tj ET Q q 0 0 0 rg BT 540.35 178.25 Td (value ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 166.25 Td (hierarchy) Tj ET Q q 0 0 0 rg BT 87.10 166.25 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 142.25 Td ( ) Tj ET Q endstream endobj 31 0 obj <> endobj 32 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 19.60 Td ( ) Tj ET Q q 0 0 0 rg BT 86.00 19.60 Td ( ) Tj ET Q q 0 0 0 rg BT 122.00 19.60 Td ( ) Tj ET Q q 0 0 0 rg BT 158.00 19.60 Td ( ) Tj ET Q q 0 0 0 rg BT 194.00 19.60 Td ( ) Tj ET Q q 0 0 0 rg BT 230.00 19.60 Td ( ) Tj ET Q q 0 0 0 rg BT 266.00 19.60 Td ( ) Tj ET Q q 0 0 0 rg BT 302.00 19.60 Td (F-13) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 742.10 Td ( ) Tj ET Q q 0 0 0 rg BT 86.00 742.10 Td (The ef) Tj ET Q q 0 0 0 rg BT 111.63 742.10 Td (fect of non-designated derivative instruments on the condensed consolidated statements of operations:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 60.00 719.60 101.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 161.00 719.60 4.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 165.00 719.60 93.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 258.00 719.60 4.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 262.00 719.60 289.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 60.00 683.60 101.00 -30.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 161.00 683.60 4.00 -30.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 165.00 683.60 93.00 -30.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 258.00 683.60 4.00 -30.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 262.00 683.60 72.00 -30.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 334.00 683.60 4.00 -30.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 338.00 683.60 68.00 -30.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 406.00 683.60 4.00 -30.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 410.00 683.60 70.00 -30.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 480.00 683.60 4.00 -30.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 484.00 683.60 67.00 -30.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 60.00 638.60 101.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 161.00 638.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 165.00 638.60 93.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 258.00 638.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 262.00 638.60 72.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 334.00 638.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 338.00 638.60 68.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 406.00 638.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 410.00 638.60 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 480.00 638.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 484.00 638.60 67.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 262 719.6 m 334 719.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 334 719.6 m 338 719.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 338 719.6 m 406 719.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 410 719.6 m 480 719.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 480 719.6 m 484 719.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 484 719.6 m 551 719.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 262 698.6 m 334 698.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 334 698.6 m 338 698.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 338 698.6 m 406 698.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 410 698.6 m 480 698.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 480 698.6 m 484 698.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 484 698.6 m 551 698.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 262 683.6 m 334 683.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 262 653.6 m 334 653.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 338 683.6 m 406 683.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 338 653.6 m 406 653.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 410 683.6 m 480 683.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 410 653.6 m 480 653.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 480 683.6 m 484 683.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 480 653.6 m 484 653.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 484 683.6 m 551 683.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 484 653.6 m 551 653.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 262 638.6 m 334 638.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 262 624.6 m 334 624.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 262 622.6 m 334 622.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 338 638.6 m 406 638.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 338 624.6 m 406 624.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 338 622.6 m 406 622.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 410 638.6 m 480 638.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 410 624.6 m 480 624.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 410 622.6 m 480 622.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 480 638.6 m 484 638.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 480 624.6 m 484 624.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 480 622.6 m 484 622.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 484 638.6 m 551 638.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 484 624.6 m 551 624.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 484 622.6 m 551 622.6 l s BT /F2 10.00 Tf ET q 0 0 0 rg BT 360.15 703.28 Td (Amount of gain/\(loss\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 62.50 688.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 167.50 688.27 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 271.25 688.28 Td (For) Tj ET Q q 0 0 0 rg BT 286.71 688.28 Td ( the ) Tj ET Q q 0 0 0 rg BT 304.86 688.28 Td (Thr) Tj ET Q q 0 0 0 rg BT 321.35 688.28 Td (ee Months Ended) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 420.35 688.28 Td (For) Tj ET Q q 0 0 0 rg BT 435.81 688.28 Td ( the Nine Months Ended) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 62.50 674.33 Td (Derivatives not) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 62.50 664.33 Td (designated as hedging) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 62.50 654.38 Td (instruments) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 167.50 668.28 Td (Location of gain/) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 167.50 658.28 Td (\(loss\) r) Tj ET Q q 0 0 0 rg BT 196.48 658.28 Td (ecognized) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 267.00 668.28 Td (September) Tj ET Q q 0 0 0 rg BT 313.01 668.28 Td ( 30,) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 287.50 658.28 Td (2018) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 341.00 668.28 Td (September) Tj ET Q q 0 0 0 rg BT 387.01 668.28 Td ( 30,) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 361.50 658.28 Td (2017) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 414.00 668.28 Td (September) Tj ET Q q 0 0 0 rg BT 460.01 668.28 Td ( 30,) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 434.50 658.28 Td (2018) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 486.50 668.28 Td (September) Tj ET Q q 0 0 0 rg BT 532.42 668.28 Td ( 30,) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 507.00 658.28 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 62.50 643.27 Td (FF) Tj ET Q q 0 0 0 rg BT 73.25 643.27 Td (As) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 167.50 643.27 Td (Other expense) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 264.50 643.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 307.65 643.27 Td (6,897) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 340.50 643.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 392.15 643.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 412.50 643.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 448.65 643.27 Td (49,768) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 486.50 643.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 537.15 643.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 62.50 628.27 Td (T) Tj ET Q q 0 0 0 rg BT 67.91 628.27 Td (otal) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 264.50 628.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 307.65 628.27 Td (6,897) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 340.50 628.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 392.15 628.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 412.50 628.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 448.65 628.27 Td (49,768) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 486.50 628.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 537.15 628.27 Td () Tj ET Q BT /F1 10.00 Tf ET 0.8 0.9333333333333333 1 rg /GS0 gs 61.00 601.60 153.00 -24.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 214.00 601.60 120.00 -24.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 334.00 601.60 216.00 -24.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 61.00 562.60 153.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 214.00 562.60 120.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 334.00 562.60 111.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 445.00 562.60 7.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 452.00 562.60 98.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 61.00 532.60 153.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 214.00 532.60 120.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 334.00 532.60 111.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 445.00 532.60 7.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 452.00 532.60 98.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 334 601.6 m 445 601.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 445 601.6 m 452 601.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 445 577.6 m 452 577.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 452 601.6 m 550 601.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 334 577.6 m 445 577.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 334 562.6 m 445 562.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 452 577.6 m 550 577.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 452 562.6 m 550 562.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 334 532.6 m 445 532.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 334 518.6 m 445 518.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 334 516.6 m 445 516.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 452 532.6 m 550 532.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 452 518.6 m 550 518.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 452 516.6 m 550 516.6 l s BT /F2 10.00 Tf ET q 0 0 0 rg BT 63.50 592.28 Td (Derivatives not designated as) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 63.50 582.28 Td (hedging instruments) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 216.50 582.28 Td (Balance Sheet Location) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 389.75 582.28 Td (Fair) Tj ET Q q 0 0 0 rg BT 407.89 582.28 Td ( value of derivatives) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 358.05 567.28 Td (September) Tj ET Q q 0 0 0 rg BT 404.06 567.28 Td ( 30, 2018) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 465.85 567.28 Td (December) Tj ET Q q 0 0 0 rg BT 508.98 567.28 Td ( 31, 2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.50 537.27 Td (FF) Tj ET Q q 0 0 0 rg BT 74.25 537.27 Td (As - Unrealized loss) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 216.50 537.27 Td (Fair value of Derivatives) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 336.50 537.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 408.65 537.27 Td (275,670) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 454.50 537.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 518.65 537.27 Td (73,170) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 336.50 522.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 408.65 522.27 Td (275,670) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 454.50 522.28 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 518.65 522.28 Td (73,170) Tj ET Q BT /F1 10.00 Tf ET BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 494.10 Td (Cash ) Tj ET Q q 0 0 0 rg BT 73.06 494.10 Td (Collateral ) Tj ET Q q 0 0 0 rg BT 116.67 494.10 Td (Disclosur) Tj ET Q q 0 0 0 rg BT 155.20 494.10 Td (es) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 482.10 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 470.10 Td ( ) Tj ET Q q 0 0 0 rg BT 86.00 470.10 Td (The ) Tj ET Q q 0 0 0 rg BT 103.90 470.10 Td (Company ) Tj ET Q q 0 0 0 rg BT 145.14 470.10 Td (does ) Tj ET Q q 0 0 0 rg BT 165.82 470.10 Td (not ) Tj ET Q q 0 0 0 rg BT 180.95 470.10 Td (of) Tj ET Q q 0 0 0 rg BT 189.10 470.10 Td (fset ) Tj ET Q q 0 0 0 rg BT 205.89 470.10 Td (fair ) Tj ET Q q 0 0 0 rg BT 222.12 470.10 Td (value ) Tj ET Q q 0 0 0 rg BT 246.13 470.10 Td (amounts ) Tj ET Q q 0 0 0 rg BT 282.37 470.10 Td (recognized ) Tj ET Q q 0 0 0 rg BT 328.58 470.10 Td (for ) Tj ET Q q 0 0 0 rg BT 342.60 470.10 Td (derivatives ) Tj ET Q q 0 0 0 rg BT 388.82 470.10 Td (by ) Tj ET Q q 0 0 0 rg BT 401.17 470.10 Td (the ) Tj ET Q q 0 0 0 rg BT 415.74 470.10 Td (right ) Tj ET Q q 0 0 0 rg BT 436.98 470.10 Td (to ) Tj ET Q q 0 0 0 rg BT 447.11 470.10 Td (reclaim ) Tj ET Q q 0 0 0 rg BT 479.45 470.10 Td (cash ) Tj ET Q q 0 0 0 rg BT 499.57 470.10 Td (collateral ) Tj ET Q q 0 0 0 rg BT 539.12 470.10 Td (or ) Tj ET Q q 0 0 0 rg BT 549.80 470.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 458.10 Td (obligation ) Tj ET Q q 0 0 0 rg BT 93.16 458.10 Td (to ) Tj ET Q q 0 0 0 rg BT 103.55 458.10 Td (return ) Tj ET Q q 0 0 0 rg BT 130.04 458.10 Td (cash ) Tj ET Q q 0 0 0 rg BT 150.42 458.10 Td (collateral. ) Tj ET Q q 0 0 0 rg BT 192.54 458.10 Td (The ) Tj ET Q q 0 0 0 rg BT 210.70 458.10 Td (amount ) Tj ET Q q 0 0 0 rg BT 243.31 458.10 Td (of ) Tj ET Q q 0 0 0 rg BT 254.25 458.10 Td (collateral ) Tj ET Q q 0 0 0 rg BT 294.06 458.10 Td (to ) Tj ET Q q 0 0 0 rg BT 304.44 458.10 Td (be ) Tj ET Q q 0 0 0 rg BT 316.49 458.10 Td (postedis ) Tj ET Q q 0 0 0 rg BT 354.38 458.10 Td (defined ) Tj ET Q q 0 0 0 rg BT 386.98 458.10 Td (in ) Tj ET Q q 0 0 0 rg BT 397.37 458.10 Td (the ) Tj ET Q q 0 0 0 rg BT 412.20 458.10 Td (terms ) Tj ET Q q 0 0 0 rg BT 437.03 458.10 Td (of ) Tj ET Q q 0 0 0 rg BT 447.97 458.10 Td (respective ) Tj ET Q q 0 0 0 rg BT 491.11 458.10 Td (master ) Tj ET Q q 0 0 0 rg BT 520.38 458.10 Td (agreement ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 446.10 Td (executed ) Tj ET Q q 0 0 0 rg BT 87.93 446.10 Td (with ) Tj ET Q q 0 0 0 rg BT 108.11 446.10 Td (counterparties ) Tj ET Q q 0 0 0 rg BT 167.15 446.10 Td (or ) Tj ET Q q 0 0 0 rg BT 177.88 446.10 Td (exchanges ) Tj ET Q q 0 0 0 rg BT 221.92 446.10 Td (and ) Tj ET Q q 0 0 0 rg BT 238.76 446.10 Td (is ) Tj ET Q q 0 0 0 rg BT 247.83 446.10 Td (required ) Tj ET Q q 0 0 0 rg BT 283.54 446.10 Td (when ) Tj ET Q q 0 0 0 rg BT 307.60 446.10 Td (agreed ) Tj ET Q q 0 0 0 rg BT 336.65 446.10 Td (upon ) Tj ET Q q 0 0 0 rg BT 359.04 446.10 Td (threshold ) Tj ET Q q 0 0 0 rg BT 398.66 446.10 Td (limits ) Tj ET Q q 0 0 0 rg BT 423.84 446.10 Td (are ) Tj ET Q q 0 0 0 rg BT 438.45 446.10 Td (exceeded. ) Tj ET Q q 0 0 0 rg BT 480.01 446.10 Td (As ) Tj ET Q q 0 0 0 rg BT 493.52 446.10 Td (of ) Tj ET Q q 0 0 0 rg BT 504.25 446.10 Td (September30, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 434.10 Td (2018 ) Tj ET Q q 0 0 0 rg BT 72.76 434.10 Td (and ) Tj ET Q q 0 0 0 rg BT 89.95 434.10 Td (December31, ) Tj ET Q q 0 0 0 rg BT 148.79 434.10 Td (2017, ) Tj ET Q q 0 0 0 rg BT 174.05 434.10 Td (the ) Tj ET Q q 0 0 0 rg BT 189.02 434.10 Td (Company ) Tj ET Q q 0 0 0 rg BT 230.66 434.10 Td (posted ) Tj ET Q q 0 0 0 rg BT 259.53 434.10 Td (cash ) Tj ET Q q 0 0 0 rg BT 280.05 434.10 Td (collateral ) Tj ET Q q 0 0 0 rg BT 320.01 434.10 Td (related ) Tj ET Q q 0 0 0 rg BT 349.97 434.10 Td (to ) Tj ET Q q 0 0 0 rg BT 360.50 434.10 Td (derivative ) Tj ET Q q 0 0 0 rg BT 403.24 434.10 Td (instruments ) Tj ET Q q 0 0 0 rg BT 452.66 434.10 Td (under ) Tj ET Q q 0 0 0 rg BT 478.18 434.10 Td (its ) Tj ET Q q 0 0 0 rg BT 490.39 434.10 Td (collateral ) Tj ET Q q 0 0 0 rg BT 530.34 434.10 Td (security ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 422.10 Td (arrangements ) Tj ET Q q 0 0 0 rg BT 105.81 422.10 Td (of ) Tj ET Q q 0 0 0 rg BT 116.08 422.10 Td ($343,320 ) Tj ET Q q 0 0 0 rg BT 155.53 422.10 Td (and ) Tj ET Q q 0 0 0 rg BT 171.91 422.10 Td ($126,837, ) Tj ET Q q 0 0 0 rg BT 213.86 422.10 Td (respectively) Tj ET Q q 0 0 0 rg BT 261.52 422.10 Td (, ) Tj ET Q q 0 0 0 rg BT 265.97 422.10 Td (which ) Tj ET Q q 0 0 0 rg BT 292.35 422.10 Td (is ) Tj ET Q q 0 0 0 rg BT 300.97 422.10 Td (recorded ) Tj ET Q q 0 0 0 rg BT 337.89 422.10 Td (within ) Tj ET Q q 0 0 0 rg BT 365.39 422.10 Td (other ) Tj ET Q q 0 0 0 rg BT 387.88 422.10 Td (current ) Tj ET Q q 0 0 0 rg BT 418.14 422.10 Td (assets ) Tj ET Q q 0 0 0 rg BT 443.42 422.10 Td (in ) Tj ET Q q 0 0 0 rg BT 453.14 422.10 Td (the ) Tj ET Q q 0 0 0 rg BT 467.31 422.10 Td (condensed ) Tj ET Q q 0 0 0 rg BT 511.46 422.10 Td (consolidated ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 410.10 Td (balance ) Tj ET Q q 0 0 0 rg BT 83.03 410.10 Td (sheets.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 386.10 Td (Fair ) Tj ET Q q 0 0 0 rg BT 70.28 386.10 Td (V) Tj ET Q q 0 0 0 rg BT 75.28 386.10 Td (alue ) Tj ET Q q 0 0 0 rg BT 95.00 386.10 Td (Measur) Tj ET Q q 0 0 0 rg BT 125.18 386.10 Td (ements) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 374.10 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 89.00 362.10 Td (The ) Tj ET Q q 0 0 0 rg BT 107.05 362.10 Td (following ) Tj ET Q q 0 0 0 rg BT 148.43 362.10 Td (methods ) Tj ET Q q 0 0 0 rg BT 184.82 362.10 Td (and ) Tj ET Q q 0 0 0 rg BT 201.76 362.10 Td (assumptions ) Tj ET Q q 0 0 0 rg BT 253.71 362.10 Td (were ) Tj ET Q q 0 0 0 rg BT 275.64 362.10 Td (used ) Tj ET Q q 0 0 0 rg BT 296.47 362.10 Td (to ) Tj ET Q q 0 0 0 rg BT 306.74 362.10 Td (estimate ) Tj ET Q q 0 0 0 rg BT 342.56 362.10 Td (the ) Tj ET Q q 0 0 0 rg BT 357.28 362.10 Td (fair ) Tj ET Q q 0 0 0 rg BT 373.66 362.10 Td (value ) Tj ET Q q 0 0 0 rg BT 397.81 362.10 Td (of ) Tj ET Q q 0 0 0 rg BT 408.64 362.10 Td (each ) Tj ET Q q 0 0 0 rg BT 429.46 362.10 Td (class ) Tj ET Q q 0 0 0 rg BT 451.40 362.10 Td (of ) Tj ET Q q 0 0 0 rg BT 462.23 362.10 Td (financial ) Tj ET Q q 0 0 0 rg BT 499.71 362.10 Td (instrument:) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 350.10 Td () Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 338.10 Td (Cash, ) Tj ET Q q 0 0 0 rg BT 74.66 338.10 Td (cash ) Tj ET Q q 0 0 0 rg BT 94.59 338.10 Td (equivalents ) Tj ET Q q 0 0 0 rg BT 141.73 338.10 Td (and ) Tj ET Q q 0 0 0 rg BT 158.33 338.10 Td (r) Tj ET Q q 0 0 0 rg BT 161.85 338.10 Td (estricted ) Tj ET Q q 0 0 0 rg BT 197.88 338.10 Td (cash-) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 219.54 338.10 Td (the ) Tj ET Q q 0 0 0 rg BT 233.36 338.10 Td (carrying ) Tj ET Q q 0 0 0 rg BT 268.27 338.10 Td (amounts ) Tj ET Q q 0 0 0 rg BT 303.76 338.10 Td (reported ) Tj ET Q q 0 0 0 rg BT 338.67 338.10 Td (in ) Tj ET Q q 0 0 0 rg BT 348.05 338.10 Td (the ) Tj ET Q q 0 0 0 rg BT 361.87 338.10 Td (condensed ) Tj ET Q q 0 0 0 rg BT 405.67 338.10 Td (consolidated ) Tj ET Q q 0 0 0 rg BT 457.81 338.10 Td (balance ) Tj ET Q q 0 0 0 rg BT 489.95 338.10 Td (sheets ) Tj ET Q q 0 0 0 rg BT 515.98 338.10 Td (for ) Tj ET Q q 0 0 0 rg BT 529.24 338.10 Td (interest-) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 326.10 Td (bearing ) Tj ET Q q 0 0 0 rg BT 82.49 326.10 Td (deposits ) Tj ET Q q 0 0 0 rg BT 117.76 326.10 Td (approximate ) Tj ET Q q 0 0 0 rg BT 170.24 326.10 Td (their ) Tj ET Q q 0 0 0 rg BT 191.07 326.10 Td (fair ) Tj ET Q q 0 0 0 rg BT 207.45 326.10 Td (value ) Tj ET Q q 0 0 0 rg BT 231.60 326.10 Td (due ) Tj ET Q q 0 0 0 rg BT 248.54 326.10 Td (to ) Tj ET Q q 0 0 0 rg BT 258.82 326.10 Td (their ) Tj ET Q q 0 0 0 rg BT 279.64 326.10 Td (short-term ) Tj ET Q q 0 0 0 rg BT 323.80 326.10 Td (nature ) Tj ET Q q 0 0 0 rg BT 351.28 326.10 Td (thereof.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 314.10 Td () Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 302.10 Td (Debt) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 69.44 302.10 Td (-the ) Tj ET Q q 0 0 0 rg BT 87.23 302.10 Td (carrying ) Tj ET Q q 0 0 0 rg BT 122.80 302.10 Td (amounts ) Tj ET Q q 0 0 0 rg BT 158.93 302.10 Td (of ) Tj ET Q q 0 0 0 rg BT 169.51 302.10 Td (borrowings ) Tj ET Q q 0 0 0 rg BT 217.31 302.10 Td (under ) Tj ET Q q 0 0 0 rg BT 242.33 302.10 Td (the ) Tj ET Q q 0 0 0 rg BT 256.79 302.10 Td (Norwegian ) Tj ET Q q 0 0 0 rg BT 303.47 302.10 Td (Bond ) Tj ET Q q 0 0 0 rg BT 327.39 302.10 Td (Debt ) Tj ET Q q 0 0 0 rg BT 349.08 302.10 Td (\(prior ) Tj ET Q q 0 0 0 rg BT 374.09 302.10 Td (to ) Tj ET Q q 0 0 0 rg BT 384.12 302.10 Td (application ) Tj ET Q q 0 0 0 rg BT 430.80 302.10 Td (of ) Tj ET Q q 0 0 0 rg BT 441.38 302.10 Td (the ) Tj ET Q q 0 0 0 rg BT 455.84 302.10 Td (discount ) Tj ET Q q 0 0 0 rg BT 491.98 302.10 Td (and ) Tj ET Q q 0 0 0 rg BT 508.66 302.10 Td (debt ) Tj ET Q q 0 0 0 rg BT 528.13 302.10 Td (issuance ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 290.10 Td (costs\) ) Tj ET Q q 0 0 0 rg BT 75.83 290.10 Td (including ) Tj ET Q q 0 0 0 rg BT 116.10 290.10 Td (the ) Tj ET Q q 0 0 0 rg BT 130.82 290.10 Td (revolving ) Tj ET Q q 0 0 0 rg BT 171.65 290.10 Td (credit ) Tj ET Q q 0 0 0 rg BT 196.91 290.10 Td (agreement ) Tj ET Q q 0 0 0 rg BT 241.05 290.10 Td (approximate ) Tj ET Q q 0 0 0 rg BT 293.53 290.10 Td (their ) Tj ET Q q 0 0 0 rg BT 314.36 290.10 Td (fair ) Tj ET Q q 0 0 0 rg BT 330.73 290.10 Td (value, ) Tj ET Q q 0 0 0 rg BT 357.39 290.10 Td (due ) Tj ET Q q 0 0 0 rg BT 374.33 290.10 Td (to ) Tj ET Q q 0 0 0 rg BT 384.60 290.10 Td (the ) Tj ET Q q 0 0 0 rg BT 399.32 290.10 Td (variable ) Tj ET Q q 0 0 0 rg BT 434.02 290.10 Td (interest ) Tj ET Q q 0 0 0 rg BT 465.96 290.10 Td (rate ) Tj ET Q q 0 0 0 rg BT 483.44 290.10 Td (nature ) Tj ET Q q 0 0 0 rg BT 510.93 290.10 Td (thereof.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 278.10 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 266.10 Td (The ) Tj ET Q q 0 0 0 rg BT 69.02 266.10 Td (Company ) Tj ET Q q 0 0 0 rg BT 111.39 266.10 Td (defines ) Tj ET Q q 0 0 0 rg BT 143.74 266.10 Td (fair ) Tj ET Q q 0 0 0 rg BT 161.10 266.10 Td (value, ) Tj ET Q q 0 0 0 rg BT 188.73 266.10 Td (establishes ) Tj ET Q q 0 0 0 rg BT 235.54 266.10 Td (a ) Tj ET Q q 0 0 0 rg BT 243.45 266.10 Td (framework ) Tj ET Q q 0 0 0 rg BT 290.80 266.10 Td (for ) Tj ET Q q 0 0 0 rg BT 305.94 266.10 Td (measuring ) Tj ET Q q 0 0 0 rg BT 351.07 266.10 Td (fair ) Tj ET Q q 0 0 0 rg BT 368.42 266.10 Td (value ) Tj ET Q q 0 0 0 rg BT 393.56 266.10 Td (and ) Tj ET Q q 0 0 0 rg BT 411.47 266.10 Td (provides ) Tj ET Q q 0 0 0 rg BT 449.39 266.10 Td (disclosures ) Tj ET Q q 0 0 0 rg BT 497.31 266.10 Td (about ) Tj ET Q q 0 0 0 rg BT 523.00 266.10 Td (fair ) Tj ET Q q 0 0 0 rg BT 540.36 266.10 Td (value ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 254.10 Td (measurements. ) Tj ET Q q 0 0 0 rg BT 112.02 254.10 Td (The ) Tj ET Q q 0 0 0 rg BT 130.07 254.10 Td (fair ) Tj ET Q q 0 0 0 rg BT 146.45 254.10 Td (value ) Tj ET Q q 0 0 0 rg BT 170.60 254.10 Td (hierarchy ) Tj ET Q q 0 0 0 rg BT 210.85 254.10 Td (for ) Tj ET Q q 0 0 0 rg BT 225.01 254.10 Td (disclosure ) Tj ET Q q 0 0 0 rg BT 268.06 254.10 Td (of ) Tj ET Q q 0 0 0 rg BT 278.89 254.10 Td (fair ) Tj ET Q q 0 0 0 rg BT 295.27 254.10 Td (value ) Tj ET Q q 0 0 0 rg BT 319.42 254.10 Td (measurements ) Tj ET Q q 0 0 0 rg BT 379.13 254.10 Td (is ) Tj ET Q q 0 0 0 rg BT 388.30 254.10 Td (as ) Tj ET Q q 0 0 0 rg BT 399.13 254.10 Td (follows:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 242.10 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 230.10 Td (Level ) Tj ET Q q 0 0 0 rg BT 75.22 230.10 Td (1 ) Tj ET Q q 0 0 0 rg BT 82.68 230.10 Td (- ) Tj ET Q q 0 0 0 rg BT 88.46 230.10 Td (Quoted ) Tj ET Q q 0 0 0 rg BT 120.36 230.10 Td (prices ) Tj ET Q q 0 0 0 rg BT 146.69 230.10 Td (in ) Tj ET Q q 0 0 0 rg BT 156.92 230.10 Td (active ) Tj ET Q q 0 0 0 rg BT 183.25 230.10 Td (markets ) Tj ET Q q 0 0 0 rg BT 217.36 230.10 Td (for ) Tj ET Q q 0 0 0 rg BT 231.48 230.10 Td (identical ) Tj ET Q q 0 0 0 rg BT 268.36 230.10 Td (assets ) Tj ET Q q 0 0 0 rg BT 294.15 230.10 Td (or ) Tj ET Q q 0 0 0 rg BT 304.94 230.10 Td (liabilities. ) Tj ET Q q 0 0 0 rg BT 347.11 230.10 Td (Our ) Tj ET Q q 0 0 0 rg BT 365.12 230.10 Td (Level ) Tj ET Q q 0 0 0 rg BT 390.34 230.10 Td (1 ) Tj ET Q q 0 0 0 rg BT 397.79 230.10 Td (non-derivatives ) Tj ET Q q 0 0 0 rg BT 462.45 230.10 Td (include ) Tj ET Q q 0 0 0 rg BT 494.34 230.10 Td (cash ) Tj ET Q q 0 0 0 rg BT 514.57 230.10 Td (and ) Tj ET Q q 0 0 0 rg BT 531.46 230.10 Td (money-) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 218.10 Td (market ) Tj ET Q q 0 0 0 rg BT 80.26 218.10 Td (accounts.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 206.10 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 194.10 Td (Level ) Tj ET Q q 0 0 0 rg BT 74.60 194.10 Td (2 ) Tj ET Q q 0 0 0 rg BT 81.44 194.10 Td (- ) Tj ET Q q 0 0 0 rg BT 86.60 194.10 Td (Quoted ) Tj ET Q q 0 0 0 rg BT 117.88 194.10 Td (prices ) Tj ET Q q 0 0 0 rg BT 143.59 194.10 Td (for ) Tj ET Q q 0 0 0 rg BT 157.08 194.10 Td (similar ) Tj ET Q q 0 0 0 rg BT 186.69 194.10 Td (assets ) Tj ET Q q 0 0 0 rg BT 211.86 194.10 Td (and ) Tj ET Q q 0 0 0 rg BT 228.13 194.10 Td (liabilities ) Tj ET Q q 0 0 0 rg BT 267.19 194.10 Td (in ) Tj ET Q q 0 0 0 rg BT 276.80 194.10 Td (active ) Tj ET Q q 0 0 0 rg BT 302.51 194.10 Td (markets ) Tj ET Q q 0 0 0 rg BT 336.00 194.10 Td (or ) Tj ET Q q 0 0 0 rg BT 346.17 194.10 Td (inputs ) Tj ET Q q 0 0 0 rg BT 372.45 194.10 Td (that ) Tj ET Q q 0 0 0 rg BT 389.28 194.10 Td (are ) Tj ET Q q 0 0 0 rg BT 403.33 194.10 Td (observable. ) Tj ET Q q 0 0 0 rg BT 450.98 194.10 Td (Our ) Tj ET Q q 0 0 0 rg BT 468.36 194.10 Td (Level ) Tj ET Q q 0 0 0 rg BT 492.96 194.10 Td (2 ) Tj ET Q q 0 0 0 rg BT 499.80 194.10 Td (non-derivatives ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 182.10 Td (include ) Tj ET Q q 0 0 0 rg BT 81.93 182.10 Td (debt ) Tj ET Q q 0 0 0 rg BT 101.65 182.10 Td (balances ) Tj ET Q q 0 0 0 rg BT 138.57 182.10 Td (under ) Tj ET Q q 0 0 0 rg BT 163.84 182.10 Td (the ) Tj ET Q q 0 0 0 rg BT 178.56 182.10 Td (Norwegian ) Tj ET Q q 0 0 0 rg BT 225.49 182.10 Td (Bond ) Tj ET Q q 0 0 0 rg BT 249.66 182.10 Td (Debt.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 158.10 Td (Level 3 - Inputs that are unobservable \(for example cash flow modeling inputs based on assumptions\).) Tj ET Q endstream endobj 33 0 obj <> endobj 34 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 19.60 Td ( ) Tj ET Q q 0 0 0 rg BT 86.00 19.60 Td ( ) Tj ET Q q 0 0 0 rg BT 122.00 19.60 Td ( ) Tj ET Q q 0 0 0 rg BT 158.00 19.60 Td ( ) Tj ET Q q 0 0 0 rg BT 194.00 19.60 Td ( ) Tj ET Q q 0 0 0 rg BT 230.00 19.60 Td ( ) Tj ET Q q 0 0 0 rg BT 266.00 19.60 Td ( ) Tj ET Q q 0 0 0 rg BT 302.00 19.60 Td (F-14) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 742.10 Td (Assets ) Tj ET Q q 0 0 0 rg BT 78.61 742.10 Td (and ) Tj ET Q q 0 0 0 rg BT 95.55 742.10 Td (liabilities ) Tj ET Q q 0 0 0 rg BT 135.27 742.10 Td (measured ) Tj ET Q q 0 0 0 rg BT 176.08 742.10 Td (at ) Tj ET Q q 0 0 0 rg BT 185.80 742.10 Td (fair ) Tj ET Q q 0 0 0 rg BT 202.18 742.10 Td (value:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 108.00 719.60 130.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 238.00 719.60 85.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 323.00 719.60 5.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 328.00 719.60 175.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 108.00 686.60 130.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 238.00 686.60 85.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 323.00 686.60 5.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 328.00 686.60 85.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 413.00 686.60 5.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 418.00 686.60 85.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 108.00 656.60 130.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 238.00 656.60 85.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 323.00 656.60 5.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 328.00 656.60 85.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 413.00 656.60 5.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 418.00 656.60 85.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 108.00 626.60 130.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 238.00 626.60 85.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 323.00 626.60 5.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 328.00 626.60 85.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 413.00 626.60 5.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 418.00 626.60 85.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 328 719.6 m 413 719.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 413 719.6 m 418 719.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 413 704.6 m 418 704.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 418 719.6 m 503 719.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 328 704.6 m 413 704.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 328 686.6 m 413 686.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 418 704.6 m 503 704.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 418 686.6 m 503 686.6 l s BT /F2 10.00 Tf ET q 0 0 0 rg BT 392.70 709.28 Td (Fair) Tj ET Q q 0 0 0 rg BT 410.93 709.28 Td ( ) Tj ET Q q 0 0 0 rg BT 413.25 709.28 Td (V) Tj ET Q q 0 0 0 rg BT 419.93 709.28 Td (alue) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 240.50 691.28 Td (Carrying ) Tj ET Q q 0 0 0 rg BT 282.35 691.28 Td (V) Tj ET Q q 0 0 0 rg BT 289.02 691.28 Td (alue) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 354.55 691.28 Td (Level 1) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 444.55 691.28 Td (Level 2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 110.50 676.27 Td (September 30, 2018) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 110.50 661.28 Td (Assets) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 110.50 646.27 Td (Cash and cash equivalents) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 240.50 646.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 274.15 646.27 Td (30,150,953) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 330.50 646.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 364.15 646.27 Td (30,150,953) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 489.15 646.27 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 110.50 631.28 Td (Liabilities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 110.50 616.27 Td (Norwegian Bond Debt *) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 240.50 616.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 269.15 616.27 Td (194,702,844) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 399.15 616.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 420.50 616.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 449.15 616.27 Td (206,100,000) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 576.10 Td ( ) Tj ET Q q 0 0 0 rg BT 86.00 576.10 Td (* ) Tj ET Q q 0 0 0 rg BT 93.32 576.10 Td (The fair value of the Norwegian Bond Debt is based on the last trade on ) Tj ET Q q 0 0 0 rg BT 382.96 576.10 Td (August 31, 2018 on Bloomber) Tj ET Q q 0 0 0 rg BT 504.16 576.10 Td (g.com.) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 106.50 553.60 135.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 241.50 553.60 85.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 326.50 553.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 330.50 553.60 174.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 106.50 523.60 135.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 241.50 523.60 85.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 326.50 523.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 330.50 523.60 85.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 415.50 523.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 419.50 523.60 85.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 106.50 493.60 135.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 241.50 493.60 85.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 326.50 493.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 330.50 493.60 85.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 415.50 493.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 419.50 493.60 85.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 106.50 463.60 135.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 241.50 463.60 85.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 326.50 463.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 330.50 463.60 85.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 415.50 463.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 419.50 463.60 85.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 330.5 553.6 m 415.5 553.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 415.5 553.6 m 419.5 553.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 415.5 538.6 m 419.5 538.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 419.5 553.6 m 504.5 553.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 330.5 538.6 m 415.5 538.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 330.5 523.6 m 415.5 523.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 419.5 538.6 m 504.5 538.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 419.5 523.6 m 504.5 523.6 l s BT /F2 10.00 Tf ET q 0 0 0 rg BT 394.70 543.28 Td (Fair) Tj ET Q q 0 0 0 rg BT 412.93 543.28 Td ( ) Tj ET Q q 0 0 0 rg BT 415.25 543.28 Td (V) Tj ET Q q 0 0 0 rg BT 421.93 543.28 Td (alue) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 244.00 528.28 Td (Carrying ) Tj ET Q q 0 0 0 rg BT 285.85 528.28 Td (V) Tj ET Q q 0 0 0 rg BT 292.52 528.28 Td (alue) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 357.05 528.28 Td (Level 1) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 446.05 528.28 Td (Level 2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 109.00 513.27 Td (December 31, 2017) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 109.00 498.28 Td (Assets) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 109.00 483.27 Td (Cash and cash equivalents) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 244.00 483.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 282.65 483.27 Td (7,744,005) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 333.00 483.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 371.65 483.27 Td (7,744,005) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 490.65 483.27 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 109.00 468.28 Td (Liabilities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 109.00 453.27 Td (Norwegian Bond Debt *) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 244.00 453.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 272.65 453.27 Td (193,950,329) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 333.00 453.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 401.65 453.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 450.65 453.27 Td (200,990,000) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 425.10 Td ( ) Tj ET Q q 0 0 0 rg BT 86.00 425.10 Td (* ) Tj ET Q q 0 0 0 rg BT 93.32 425.10 Td (The ) Tj ET Q q 0 0 0 rg BT 111.37 425.10 Td (fair ) Tj ET Q q 0 0 0 rg BT 127.74 425.10 Td (value ) Tj ET Q q 0 0 0 rg BT 151.90 425.10 Td (of ) Tj ET Q q 0 0 0 rg BT 162.73 425.10 Td (the ) Tj ET Q q 0 0 0 rg BT 177.45 425.10 Td (Norwegian ) Tj ET Q q 0 0 0 rg BT 224.37 425.10 Td (Bond ) Tj ET Q q 0 0 0 rg BT 248.54 425.10 Td (Debt ) Tj ET Q q 0 0 0 rg BT 270.48 425.10 Td (is ) Tj ET Q q 0 0 0 rg BT 279.65 425.10 Td (based ) Tj ET Q q 0 0 0 rg BT 304.92 425.10 Td (on ) Tj ET Q q 0 0 0 rg BT 317.42 425.10 Td (the ) Tj ET Q q 0 0 0 rg BT 332.14 425.10 Td (last ) Tj ET Q q 0 0 0 rg BT 348.52 425.10 Td (trade ) Tj ET Q q 0 0 0 rg BT 371.01 425.10 Td (on ) Tj ET Q q 0 0 0 rg BT 383.51 425.10 Td (December ) Tj ET Q q 0 0 0 rg BT 427.09 425.10 Td (21, ) Tj ET Q q 0 0 0 rg BT 442.09 425.10 Td (2017 ) Tj ET Q q 0 0 0 rg BT 464.59 425.10 Td (on ) Tj ET Q q 0 0 0 rg BT 477.09 425.10 Td (Bloomber) Tj ET Q q 0 0 0 rg BT 516.91 425.10 Td (g.com) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 401.10 Td (Note 8. Commitments and Contingencies) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 377.10 Td (Legal Pr) Tj ET Q q 0 0 0 rg BT 84.91 377.10 Td (oceedings) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 89.00 353.10 Td (The ) Tj ET Q q 0 0 0 rg BT 107.07 353.10 Td (Company ) Tj ET Q q 0 0 0 rg BT 148.47 353.10 Td (is ) Tj ET Q q 0 0 0 rg BT 157.66 353.10 Td (involved ) Tj ET Q q 0 0 0 rg BT 195.18 353.10 Td (in ) Tj ET Q q 0 0 0 rg BT 205.47 353.10 Td (legal ) Tj ET Q q 0 0 0 rg BT 227.43 353.10 Td (proceedings ) Tj ET Q q 0 0 0 rg BT 278.26 353.10 Td (and ) Tj ET Q q 0 0 0 rg BT 295.22 353.10 Td (may ) Tj ET Q q 0 0 0 rg BT 314.96 353.10 Td (become ) Tj ET Q q 0 0 0 rg BT 348.57 353.10 Td (involved ) Tj ET Q q 0 0 0 rg BT 386.08 353.10 Td (in ) Tj ET Q q 0 0 0 rg BT 396.38 353.10 Td (other ) Tj ET Q q 0 0 0 rg BT 419.45 353.10 Td (legal ) Tj ET Q q 0 0 0 rg BT 441.40 353.10 Td (matters ) Tj ET Q q 0 0 0 rg BT 473.36 353.10 Td (arising ) Tj ET Q q 0 0 0 rg BT 503.09 353.10 Td (in ) Tj ET Q q 0 0 0 rg BT 513.39 353.10 Td (the ) Tj ET Q q 0 0 0 rg BT 528.13 353.10 Td (ordinary ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 341.10 Td (course ) Tj ET Q q 0 0 0 rg BT 77.90 341.10 Td (of ) Tj ET Q q 0 0 0 rg BT 88.04 341.10 Td (its ) Tj ET Q q 0 0 0 rg BT 99.29 341.10 Td (business. ) Tj ET Q q 0 0 0 rg BT 137.35 341.10 Td (The ) Tj ET Q q 0 0 0 rg BT 154.70 341.10 Td (Company ) Tj ET Q q 0 0 0 rg BT 195.39 341.10 Td (evaluates ) Tj ET Q q 0 0 0 rg BT 234.40 341.10 Td (these ) Tj ET Q q 0 0 0 rg BT 256.75 341.10 Td (legal ) Tj ET Q q 0 0 0 rg BT 277.98 341.10 Td (matters ) Tj ET Q q 0 0 0 rg BT 309.22 341.10 Td (on ) Tj ET Q q 0 0 0 rg BT 321.02 341.10 Td (a ) Tj ET Q q 0 0 0 rg BT 327.27 341.10 Td (case-by-case ) Tj ET Q q 0 0 0 rg BT 380.14 341.10 Td (basis ) Tj ET Q q 0 0 0 rg BT 401.95 341.10 Td (to ) Tj ET Q q 0 0 0 rg BT 411.53 341.10 Td (make ) Tj ET Q q 0 0 0 rg BT 434.99 341.10 Td (a ) Tj ET Q q 0 0 0 rg BT 441.23 341.10 Td (determination ) Tj ET Q q 0 0 0 rg BT 498.57 341.10 Td (as ) Tj ET Q q 0 0 0 rg BT 508.70 341.10 Td (to ) Tj ET Q q 0 0 0 rg BT 518.28 341.10 Td (the ) Tj ET Q q 0 0 0 rg BT 532.30 341.10 Td (impact, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 329.10 Td (if ) Tj ET Q q 0 0 0 rg BT 58.61 329.10 Td (any) Tj ET Q q 0 0 0 rg BT 72.40 329.10 Td (, ) Tj ET Q q 0 0 0 rg BT 77.40 329.10 Td (on ) Tj ET Q q 0 0 0 rg BT 89.90 329.10 Td (its ) Tj ET Q q 0 0 0 rg BT 101.85 329.10 Td (business, ) Tj ET Q q 0 0 0 rg BT 140.74 329.10 Td (liquidity) Tj ET Q q 0 0 0 rg BT 173.98 329.10 Td (, ) Tj ET Q q 0 0 0 rg BT 178.98 329.10 Td (results ) Tj ET Q q 0 0 0 rg BT 207.59 329.10 Td (of ) Tj ET Q q 0 0 0 rg BT 218.42 329.10 Td (operations, ) Tj ET Q q 0 0 0 rg BT 265.07 329.10 Td (financial ) Tj ET Q q 0 0 0 rg BT 302.55 329.10 Td (condition ) Tj ET Q q 0 0 0 rg BT 342.83 329.10 Td (or ) Tj ET Q q 0 0 0 rg BT 353.66 329.10 Td (cash ) Tj ET Q q 0 0 0 rg BT 373.93 329.10 Td (flows.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 317.10 Td () Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 305.10 Td (Other ) Tj ET Q q 0 0 0 rg BT 75.83 305.10 Td (Commitments ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 281.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 281.10 Td (The ) Tj ET Q q 0 0 0 rg BT 103.25 281.10 Td (Company ) Tj ET Q q 0 0 0 rg BT 143.83 281.10 Td (entered ) Tj ET Q q 0 0 0 rg BT 174.96 281.10 Td (into ) Tj ET Q q 0 0 0 rg BT 192.21 281.10 Td (a ) Tj ET Q q 0 0 0 rg BT 198.35 281.10 Td (series ) Tj ET Q q 0 0 0 rg BT 222.82 281.10 Td (of ) Tj ET Q q 0 0 0 rg BT 232.85 281.10 Td (agreements ) Tj ET Q q 0 0 0 rg BT 280.08 281.10 Td (to ) Tj ET Q q 0 0 0 rg BT 289.55 281.10 Td (purchase ) Tj ET Q q 0 0 0 rg BT 326.79 281.10 Td (four ) Tj ET Q q 0 0 0 rg BT 345.15 281.10 Td (exhaust ) Tj ET Q q 0 0 0 rg BT 377.40 281.10 Td (gas ) Tj ET Q q 0 0 0 rg BT 392.43 281.10 Td (cleaning ) Tj ET Q q 0 0 0 rg BT 428.00 281.10 Td (systems ) Tj ET Q q 0 0 0 rg BT 461.37 281.10 Td (which ) Tj ET Q q 0 0 0 rg BT 487.50 281.10 Td (are ) Tj ET Q q 0 0 0 rg BT 501.41 281.10 Td (to ) Tj ET Q q 0 0 0 rg BT 510.89 281.10 Td (be ) Tj ET Q q 0 0 0 rg BT 522.03 281.10 Td (retrofitted ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 269.10 Td (on ) Tj ET Q q 0 0 0 rg BT 62.24 269.10 Td (four ) Tj ET Q q 0 0 0 rg BT 81.13 269.10 Td (of ) Tj ET Q q 0 0 0 rg BT 91.70 269.10 Td (the ) Tj ET Q q 0 0 0 rg BT 106.15 269.10 Td (Shipco ) Tj ET Q q 0 0 0 rg BT 136.00 269.10 Td (V) Tj ET Q q 0 0 0 rg BT 142.11 269.10 Td (essels. ) Tj ET Q q 0 0 0 rg BT 170.02 269.10 Td (The ) Tj ET Q q 0 0 0 rg BT 187.80 269.10 Td (projected ) Tj ET Q q 0 0 0 rg BT 227.24 269.10 Td (cost, ) Tj ET Q q 0 0 0 rg BT 248.08 269.10 Td (including ) Tj ET Q q 0 0 0 rg BT 288.09 269.10 Td (the ) Tj ET Q q 0 0 0 rg BT 302.54 269.10 Td (installation, ) Tj ET Q q 0 0 0 rg BT 351.72 269.10 Td (is ) Tj ET Q q 0 0 0 rg BT 360.62 269.10 Td (approximately ) Tj ET Q q 0 0 0 rg BT 420.62 269.10 Td ($2.0 ) Tj ET Q q 0 0 0 rg BT 440.35 269.10 Td (million ) Tj ET Q q 0 0 0 rg BT 471.48 269.10 Td (per ) Tj ET Q q 0 0 0 rg BT 486.48 269.10 Td (Shipco ) Tj ET Q q 0 0 0 rg BT 516.33 269.10 Td (V) Tj ET Q q 0 0 0 rg BT 522.45 269.10 Td (essel. ) Tj ET Q q 0 0 0 rg BT 546.46 269.10 Td (The ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 257.10 Td (retrofitted ) Tj ET Q q 0 0 0 rg BT 92.60 257.10 Td (Shipco ) Tj ET Q q 0 0 0 rg BT 122.80 257.10 Td (V) Tj ET Q q 0 0 0 rg BT 128.92 257.10 Td (essels ) Tj ET Q q 0 0 0 rg BT 154.86 257.10 Td (will ) Tj ET Q q 0 0 0 rg BT 173.03 257.10 Td (be ) Tj ET Q q 0 0 0 rg BT 185.09 257.10 Td (able ) Tj ET Q q 0 0 0 rg BT 204.36 257.10 Td (to ) Tj ET Q q 0 0 0 rg BT 214.75 257.10 Td (burn ) Tj ET Q q 0 0 0 rg BT 235.70 257.10 Td (high ) Tj ET Q q 0 0 0 rg BT 256.10 257.10 Td (sulfur ) Tj ET Q q 0 0 0 rg BT 282.04 257.10 Td (fuel ) Tj ET Q q 0 0 0 rg BT 300.21 257.10 Td (after ) Tj ET Q q 0 0 0 rg BT 321.14 257.10 Td (the ) Tj ET Q q 0 0 0 rg BT 335.97 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Tf ET q 0 0 0 rg BT 57.00 623.48 Td (ASSETS:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 354.00 623.32 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 57.00 610.48 Td (Curr) Tj ET Q q 0 0 0 rg BT 78.57 610.48 Td (ent assets:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 57.00 597.32 Td (Cash and cash equivalents) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 354.00 597.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 399.65 597.32 Td (30,148,152) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 455.00 597.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 512.65 597.32 Td (7,391,945) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 57.00 584.32 Td (Prepaid expenses) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 417.15 584.32 Td (23,841) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.15 584.32 Td (18,615) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 57.00 571.32 Td (Other current assets) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 412.15 571.32 Td (343,320) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 520.15 571.32 Td (126,837) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 57.00 558.32 Td (T) Tj ET Q q 0 0 0 rg BT 62.76 558.32 Td (otal current assets) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 399.65 558.32 Td (30,515,313) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 512.65 558.32 Td (7,537,397) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 57.00 545.48 Td (Noncurr) Tj ET Q q 0 0 0 rg BT 93.57 545.48 Td (ent assets:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 354.00 545.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 57.00 532.32 Td (Investment in subsidiaries) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 394.65 532.32 Td (365,037,693) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 502.65 532.32 Td (380,305,385) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 57.00 518.32 Td (Deferred financing costs - Super Senior Revolver Facility) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 412.15 518.32 Td (285,342) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 520.15 518.32 Td (190,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 57.00 505.32 Td (T) Tj ET Q q 0 0 0 rg BT 62.76 505.32 Td (otal noncurrent assets) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 394.65 505.32 Td (365,323,035) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 502.65 505.32 Td (380,495,385) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 57.00 492.48 Td (T) Tj ET Q q 0 0 0 rg BT 63.21 492.48 Td (otal assets) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 354.00 492.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 394.65 492.32 Td (395,838,348) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 455.00 492.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 502.65 492.32 Td (388,032,782) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 57.00 479.48 Td (LIABILITIES & MEMBER'S EQUITY) Tj ET Q q 0 0 0 rg BT 227.97 479.48 Td (:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 354.00 479.32 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 57.00 466.48 Td (Curr) Tj ET Q q 0 0 0 rg BT 78.57 466.48 Td (ent liabilities:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 354.00 466.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 57.00 453.32 Td (Accrued interest) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 354.00 453.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 404.65 453.32 Td (1,519,500) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 455.00 453.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 512.65 453.32 Td (1,566,333) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 57.00 440.32 Td (Other accrued liabilities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 434.65 440.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 520.15 440.32 Td (944,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 57.00 427.32 Td (Fair value of derivatives) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 412.15 427.32 Td (275,670) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.15 427.32 Td (73,170) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 57.00 414.32 Td (Current portion of long-term debt - Norwegian Bond Debt) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 404.65 414.32 Td (8,000,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 512.65 414.32 Td (4,000,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 57.00 401.32 Td (T) Tj ET Q q 0 0 0 rg BT 62.76 401.32 Td (otal current liabilities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 404.65 401.32 Td (9,795,170) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 512.65 401.32 Td (6,583,503) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 57.00 388.48 Td (Noncurr) Tj ET Q q 0 0 0 rg BT 93.57 388.48 Td (ent liabilities:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 354.00 388.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 57.00 375.32 Td (Norwegian Bond Debt, net of debt discount and debt issuance costs) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 394.65 375.32 Td (186,702,844) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 502.65 375.32 Td (189,950,329) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 57.00 362.32 Td (T) Tj ET Q q 0 0 0 rg BT 62.76 362.32 Td (otal noncurrent liabilities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 394.65 362.32 Td (186,702,844) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 502.65 362.32 Td (189,950,329) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 57.00 349.48 Td (T) Tj ET Q q 0 0 0 rg BT 63.21 349.48 Td (otal liabilities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 394.65 349.32 Td (196,498,014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 502.65 349.32 Td (196,533,832) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 57.00 336.32 Td (Commitment and contingencies) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 57.00 323.48 Td (Member's equity:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 354.00 323.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 57.00 310.32 Td (Common shares, zero par value, 100 shares authorized and issued) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 434.65 310.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 542.65 310.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 57.00 297.32 Td (Paid-in Capital) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 394.65 297.32 Td (365,592,997) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 502.65 297.32 Td (365,592,997) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 57.00 284.32 Td (Accumulated Deficit) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.30 284.37 Td (\(166,252,663) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 444.65 284.32 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 499.30 284.37 Td (\(174,094,047) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 552.65 284.32 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 57.00 271.32 Td (T) Tj ET Q q 0 0 0 rg BT 62.76 271.32 Td (otal Member's equity) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 394.65 271.32 Td (199,340,334) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 502.65 271.32 Td (191,498,950) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 57.00 258.32 Td (T) Tj ET Q q 0 0 0 rg BT 62.41 258.32 Td (otal liabilities and Member's equity) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 354.00 258.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 394.65 258.32 Td (395,838,348) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 455.00 258.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 502.65 258.32 Td (388,032,782) Tj ET Q BT /F1 10.00 Tf ET endstream endobj 37 0 obj <> endobj 38 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 19.60 Td ( ) Tj ET Q q 0 0 0 rg BT 86.00 19.60 Td ( ) Tj ET Q q 0 0 0 rg BT 122.00 19.60 Td ( ) Tj ET Q q 0 0 0 rg BT 158.00 19.60 Td ( ) Tj ET Q q 0 0 0 rg BT 194.00 19.60 Td ( ) Tj ET Q q 0 0 0 rg BT 230.00 19.60 Td ( ) Tj ET Q q 0 0 0 rg BT 266.00 19.60 Td ( ) Tj ET Q q 0 0 0 rg BT 302.00 19.60 Td (F-16) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 694.10 Td ( ) Tj ET Q q 0 0 0 rg BT 86.00 694.10 Td ( ) Tj ET Q q 0 0 0 rg BT 122.00 694.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 682.10 Td ( ) Tj ET Q q 0 0 0 rg BT 86.00 682.10 Td ( ) Tj ET Q q 0 0 0 rg BT 122.00 682.10 Td ( ) Tj ET Q q 0 0 0 rg BT 158.00 682.10 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 194.00 682.10 Td (EAGLE BULK SHIPCO LLC \(ISSUER ONL) Tj ET Q q 0 0 0 rg BT 388.96 682.10 Td (Y\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 80.95 658.10 Td (UNCONSOLIDA) Tj ET Q q 0 0 0 rg BT 155.22 658.10 Td (TED CONDENSED ST) Tj ET Q q 0 0 0 rg BT 255.06 658.10 Td (A) Tj ET Q q 0 0 0 rg BT 261.54 658.10 Td (TEMENTS OF) Tj ET Q q 0 0 0 rg BT 326.45 658.10 Td ( OPERA) Tj ET Q q 0 0 0 rg BT 363.21 658.10 Td (TIONS ) Tj ET Q q 0 0 0 rg BT 396.28 658.10 Td (AND COMPREHENSIVE LOSS) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 283.65 646.10 Td (\(Unaudited\)) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 75.00 609.60 159.00 -24.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 234.00 609.60 4.00 -24.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 238.00 609.60 69.00 -24.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 307.00 609.60 4.00 -24.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 311.00 609.60 74.00 -24.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 385.00 609.60 4.00 -24.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 389.00 609.60 75.00 -24.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 464.00 609.60 4.00 -24.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 468.00 609.60 75.00 -24.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 75.00 571.60 159.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 234.00 571.60 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 238.00 571.60 69.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 307.00 571.60 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 311.00 571.60 74.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 385.00 571.60 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 389.00 571.60 75.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 464.00 571.60 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 468.00 571.60 75.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 75.00 539.60 159.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 234.00 539.60 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 238.00 539.60 69.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 307.00 539.60 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 311.00 539.60 74.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 385.00 539.60 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 389.00 539.60 75.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 464.00 539.60 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 468.00 539.60 75.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 75.00 507.60 159.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 234.00 507.60 4.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 238.00 507.60 69.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 307.00 507.60 4.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 311.00 507.60 74.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 385.00 507.60 4.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 389.00 507.60 75.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 464.00 507.60 4.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 468.00 507.60 75.00 -27.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 238 623.6 m 307 623.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 307 623.6 m 311 623.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 307 609.6 m 311 609.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 311 623.6 m 385 623.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 385 623.6 m 389 623.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 389 623.6 m 464 623.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 464 623.6 m 468 623.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 468 623.6 m 543 623.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 238 609.6 m 307 609.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 238 585.6 m 307 585.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 311 609.6 m 385 609.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 311 585.6 m 385 585.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 385 609.6 m 389 609.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 385 585.6 m 389 585.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 389 609.6 m 464 609.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 389 585.6 m 464 585.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 464 609.6 m 468 609.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 464 585.6 m 468 585.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 468 609.6 m 543 609.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 468 585.6 m 543 585.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 238 523.6 m 307 523.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 389 523.6 m 464 523.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 238 523.6 m 307 523.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 238 507.6 m 307 507.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 311 523.6 m 385 523.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 385 523.6 m 389 523.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 389 523.6 m 464 523.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 464 523.6 m 468 523.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 468 523.6 m 543 523.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 238 507.6 m 307 507.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 238 480.6 m 307 480.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 311 507.6 m 385 507.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 311 480.6 m 385 480.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 385 507.6 m 389 507.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 385 480.6 m 389 480.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 389 507.6 m 464 507.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 389 480.6 m 464 480.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 464 507.6 m 468 507.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 464 480.6 m 468 480.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 468 507.6 m 543 507.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 468 480.6 m 543 480.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 238 480.6 m 307 480.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 238 454.6 m 307 454.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 238 452.6 m 307 452.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 311 480.6 m 385 480.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 311 454.6 m 385 454.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 311 452.6 m 385 452.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 385 480.6 m 389 480.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 385 454.6 m 389 454.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 385 452.6 m 389 452.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 389 480.6 m 464 480.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 389 454.6 m 464 454.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 389 452.6 m 464 452.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 464 480.6 m 468 480.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 464 454.6 m 468 454.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 464 452.6 m 468 452.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 468 480.6 m 543 480.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 468 454.6 m 543 454.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 468 452.6 m 543 452.6 l s BT /F2 10.00 Tf ET q 0 0 0 rg BT 248.75 614.28 Td (For) Tj ET Q q 0 0 0 rg BT 264.21 614.28 Td ( the ) Tj ET Q q 0 0 0 rg BT 282.36 614.28 Td (Thr) Tj ET Q q 0 0 0 rg BT 298.85 614.28 Td (ee Months Ended) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 405.85 614.28 Td (For) Tj ET Q q 0 0 0 rg BT 421.31 614.28 Td ( the Nine Months Ended) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.50 590.27 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 241.50 600.28 Td (September) Tj ET Q q 0 0 0 rg BT 287.51 600.28 Td ( 30,) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 262.00 590.28 Td (2018) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 317.00 600.28 Td (September) Tj ET Q q 0 0 0 rg BT 363.01 600.28 Td ( 30,) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 337.50 590.28 Td (2017) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 395.50 600.28 Td (September) Tj ET Q q 0 0 0 rg BT 441.51 600.28 Td ( 30,) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 416.00 590.28 Td (2018) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 474.50 600.28 Td (September) Tj ET Q q 0 0 0 rg BT 520.42 600.28 Td ( 30,) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 495.00 590.28 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.50 560.27 Td (Interest expense) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 240.50 560.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 263.15 560.27 Td (4,569,562) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 313.50 560.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 371.15 560.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.50 560.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 415.15 560.27 Td (13,467,052) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 470.50 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w 0 i [] 0 d 0 J 0 j 3 M 455 597.75 m 556 597.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 455 583.75 m 556 583.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 339 583.75 m 451 583.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 455 583.75 m 556 583.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 339 508.75 m 451 508.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 455 508.75 m 556 508.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 339 508.75 m 451 508.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 339 493.75 m 451 493.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 455 508.75 m 556 508.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 455 493.75 m 556 493.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 339 418.75 m 451 418.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 339 418.75 m 451 418.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 339 403.75 m 451 403.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 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Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 552.15 528.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 64.50 513.42 Td (Dividends received from subsidiaries) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 402.15 513.42 Td (15,267,692) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 507.15 513.42 Td (17,167,835) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 64.50 498.43 Td (Net cash pr) Tj ET Q q 0 0 0 rg BT 113.29 498.43 Td (ovided by/ \(used in\) investing activities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 402.15 498.42 Td (15,267,692) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 524.65 498.42 Td (47,750) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 64.50 468.43 Td (Cash flows fr) Tj ET Q q 0 0 0 rg BT 121.07 468.43 Td (om financing activities:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 64.50 453.42 Td (Other financing costs) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 403.80 453.47 Td (\(1,095,748) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 447.15 453.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 542.15 453.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 64.50 438.42 Td (Return of capital to the Parent Company) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 437.15 438.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 503.80 438.47 Td (\(12,918,323) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 552.15 438.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 64.50 423.42 Td (Capital contribution from the Parent Company) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 437.15 423.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 507.15 423.42 Td (17,209,120) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 64.50 408.43 Td (Net cash \(used in\)/pr) Tj ET Q q 0 0 0 rg BT 153.02 408.43 Td (ovided by financing activities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 403.80 408.47 Td (\(1,095,748) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 447.15 408.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 512.15 408.42 Td (4,290,797) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 64.50 393.42 Td (Net increase in cash and cash equivalents and restricted cash) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 402.15 393.42 Td (22,756,207) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 519.65 393.42 Td (736,947) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 64.50 378.42 Td (Cash and cash equivalents and restricted cash at beginning of) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 64.50 368.42 Td (period) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 407.15 368.42 Td (7,391,945) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 512.15 368.42 Td (2,062,946) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 64.50 352.43 Td (Cash and cash equivalents and r) Tj ET Q q 0 0 0 rg BT 202.50 352.43 Td (estricted cash at end of period) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 341.50 352.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 402.15 352.42 Td (30,148,152) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 457.50 352.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 512.15 352.42 Td (2,799,893) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 64.50 320.43 Td (Supplemental cash flow information:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 64.50 304.42 Td (Cash paid during the period for interest) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 341.50 304.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 407.15 304.42 Td (8,341,334) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 542.15 304.42 Td () Tj ET Q BT /F1 10.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 57.00 264.25 Td (Notes to the Unconsolidated Condensed Financial Statements) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 57.00 240.25 Td (Basis of Pr) Tj ET Q q 0 0 0 rg BT 102.93 240.25 Td (esentation) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 216.25 Td ( ) Tj ET Q q 0 0 0 rg BT 86.00 216.25 Td (In ) Tj ET Q q 0 0 0 rg BT 97.14 216.25 Td (the ) Tj ET Q q 0 0 0 rg BT 112.17 216.25 Td (Issuer) Tj ET Q q 0 0 0 rg BT 135.85 216.25 Td (-only ) Tj ET Q q 0 0 0 rg BT 159.77 216.25 Td (condensed ) Tj ET Q q 0 0 0 rg BT 204.78 216.25 Td (financial ) Tj ET Q q 0 0 0 rg BT 242.57 216.25 Td (statements, ) Tj ET Q q 0 0 0 rg BT 290.10 216.25 Td (Eagle ) Tj ET Q q 0 0 0 rg BT 315.67 216.25 Td (Bulk ) Tj ET Q q 0 0 0 rg BT 337.93 216.25 Td (Shipco ) Tj ET Q q 0 0 0 rg BT 368.52 216.25 Td (LLC ) Tj ET Q q 0 0 0 rg BT 390.21 216.25 Td (investment ) Tj ET Q q 0 0 0 rg BT 436.91 216.25 Td (in ) Tj ET Q q 0 0 0 rg BT 447.49 216.25 Td (subsidiaries ) Tj ET Q q 0 0 0 rg BT 497.52 216.25 Td (is ) Tj ET Q q 0 0 0 rg BT 507.00 216.25 Td (accounted ) Tj ET Q q 0 0 0 rg BT 550.34 216.25 Td (for ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 204.25 Td (under ) Tj ET Q q 0 0 0 rg BT 75.38 204.25 Td (the ) Tj ET Q q 0 0 0 rg BT 90.21 204.25 Td (equity ) Tj ET Q q 0 0 0 rg BT 117.81 204.25 Td (method ) Tj ET Q q 0 0 0 rg BT 150.42 204.25 Td (of ) Tj ET Q q 0 0 0 rg BT 161.35 204.25 Td (accounting. ) Tj ET Q q 0 0 0 rg BT 210.15 204.25 Td (The ) Tj ET Q q 0 0 0 rg BT 228.31 204.25 Td (paid-in ) Tj ET Q q 0 0 0 rg BT 259.24 204.25 Td (capital ) Tj ET Q q 0 0 0 rg BT 288.50 204.25 Td (represents ) Tj ET Q q 0 0 0 rg BT 331.65 204.25 Td (capital ) Tj ET Q q 0 0 0 rg BT 360.91 204.25 Td (contribution ) Tj ET Q q 0 0 0 rg BT 412.40 204.25 Td (by ) Tj ET Q q 0 0 0 rg BT 425.01 204.25 Td (Eagle ) Tj ET Q q 0 0 0 rg BT 450.38 204.25 Td (Bulk ) Tj ET Q q 0 0 0 rg BT 472.44 204.25 Td (Shipping ) Tj ET Q q 0 0 0 rg BT 511.17 204.25 Td (Inc. ) Tj ET Q q 0 0 0 rg BT 529.05 204.25 Td (\("Parent ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 192.25 Td (Company"\).) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 180.25 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 168.25 Td (Note 10. Subsequent Events) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 144.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 144.25 Td (On ) Tj ET Q q 0 0 0 rg BT 100.02 144.25 Td (November ) Tj ET Q q 0 0 0 rg BT 144.02 144.25 Td (6, ) Tj ET Q q 0 0 0 rg BT 153.31 144.25 Td (2018, ) Tj ET Q q 0 0 0 rg BT 177.60 144.25 Td (the ) Tj ET Q q 0 0 0 rg BT 191.61 144.25 Td (Company ) Tj ET Q q 0 0 0 rg BT 232.29 144.25 Td (received ) Tj ET Q q 0 0 0 rg BT 267.95 144.25 Td (the ) Tj ET Q q 0 0 0 rg BT 281.96 144.25 Td (approval ) Tj ET Q q 0 0 0 rg BT 318.74 144.25 Td (for ) Tj ET Q q 0 0 0 rg BT 332.19 144.25 Td (an ) Tj ET Q q 0 0 0 rg BT 343.42 144.25 Td (amendment ) Tj ET Q q 0 0 0 rg BT 391.87 144.25 Td (to ) Tj ET Q q 0 0 0 rg BT 401.44 144.25 Td (the ) Tj ET Q q 0 0 0 rg BT 415.45 144.25 Td (Bond ) Tj ET Q q 0 0 0 rg BT 438.78 144.25 Td (T) Tj ET Q q 0 0 0 rg BT 444.19 144.25 Td (erms ) Tj ET Q q 0 0 0 rg BT 465.42 144.25 Td (to ) Tj ET Q q 0 0 0 rg BT 475.00 144.25 Td (allow ) Tj ET Q q 0 0 0 rg BT 499.01 144.25 Td (for ) Tj ET Q q 0 0 0 rg BT 512.46 144.25 Td (the ) Tj ET Q q 0 0 0 rg BT 526.47 144.25 Td (proceeds ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 132.25 Td (from ) Tj ET Q q 0 0 0 rg BT 72.05 132.25 Td (the ) Tj ET Q q 0 0 0 rg BT 86.88 132.25 Td (sale ) Tj ET Q q 0 0 0 rg BT 105.03 132.25 Td (of ) Tj ET Q q 0 0 0 rg BT 115.97 132.25 Td (the ) Tj ET Q q 0 0 0 rg BT 130.80 132.25 Td (Shipco ) Tj ET Q q 0 0 0 rg BT 161.19 132.25 Td (vessels ) Tj ET Q q 0 0 0 rg BT 192.13 132.25 Td (for ) Tj ET Q q 0 0 0 rg BT 206.40 132.25 Td (partial ) Tj ET Q q 0 0 0 rg BT 234.55 132.25 Td (financing ) Tj ET Q q 0 0 0 rg BT 274.92 132.25 Td (of ) Tj ET Q q 0 0 0 rg BT 285.86 132.25 Td (four ) Tj ET Q q 0 0 0 rg BT 305.13 132.25 Td (Scrubbers ) Tj ET Q q 0 0 0 rg BT 347.73 132.25 Td (to ) Tj ET Q q 0 0 0 rg BT 358.12 132.25 Td (be ) Tj ET Q q 0 0 0 rg BT 370.17 132.25 Td (retrofitted ) Tj ET Q q 0 0 0 rg BT 412.76 132.25 Td (to ) Tj ET Q q 0 0 0 rg BT 423.15 132.25 Td (the ) Tj ET Q q 0 0 0 rg BT 437.97 132.25 Td (Shipco ) Tj ET Q q 0 0 0 rg BT 468.36 132.25 Td (vessels. ) Tj ET Q q 0 0 0 rg BT 501.80 132.25 Td (Pursuant ) Tj ET Q q 0 0 0 rg BT 539.41 132.25 Td (to ) Tj ET Q q 0 0 0 rg BT 549.80 132.25 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 120.25 Td (Bond ) Tj ET Q q 0 0 0 rg BT 74.33 120.25 Td (T) Tj ET Q q 0 0 0 rg BT 79.74 120.25 Td (erms, ) Tj ET Q q 0 0 0 rg BT 104.55 120.25 Td (the ) Tj ET Q q 0 0 0 rg BT 119.64 120.25 Td (amendments ) Tj ET Q q 0 0 0 rg BT 173.05 120.25 Td (required ) Tj ET Q q 0 0 0 rg BT 209.24 120.25 Td (the ) Tj ET Q q 0 0 0 rg BT 224.32 120.25 Td (support ) Tj ET Q q 0 0 0 rg BT 257.19 120.25 Td (from ) Tj ET Q q 0 0 0 rg BT 279.50 120.25 Td (holders ) Tj ET Q q 0 0 0 rg BT 311.81 120.25 Td (of ) Tj ET Q q 0 0 0 rg BT 323.01 120.25 Td (at ) Tj ET Q q 0 0 0 rg BT 333.10 120.25 Td (least ) Tj ET Q q 0 0 0 rg BT 354.29 120.25 Td (2/3 ) Tj ET Q q 0 0 0 rg BT 369.94 120.25 Td (of ) Tj ET Q q 0 0 0 rg BT 381.14 120.25 Td (the ) Tj ET Q q 0 0 0 rg BT 396.23 120.25 Td (Bonds ) Tj ET Q q 0 0 0 rg BT 424.66 120.25 Td (represented ) Tj ET Q q 0 0 0 rg BT 473.61 120.25 Td (at ) Tj ET Q q 0 0 0 rg BT 483.70 120.25 Td (the ) Tj ET Q q 0 0 0 rg BT 498.79 120.25 Td (meeting. ) Tj ET Q q 0 0 0 rg BT 536.37 120.25 Td (Of ) Tj ET Q q 0 0 0 rg BT 549.79 120.25 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 108.25 Td (attending ) Tj ET Q q 0 0 0 rg BT 90.04 108.25 Td (holders, ) Tj ET Q q 0 0 0 rg BT 124.81 108.25 Td (85.36% ) Tj ET Q q 0 0 0 rg BT 158.48 108.25 Td (of ) Tj ET Q q 0 0 0 rg BT 169.64 108.25 Td (the ) Tj ET Q q 0 0 0 rg BT 184.69 108.25 Td (attending ) Tj ET Q q 0 0 0 rg BT 224.73 108.25 Td (holders ) Tj ET Q q 0 0 0 rg BT 257.00 108.25 Td (voted ) Tj ET Q q 0 0 0 rg BT 282.05 108.25 Td (in ) Tj ET Q q 0 0 0 rg BT 292.66 108.25 Td (favor ) Tj ET Q q 0 0 0 rg BT 316.59 108.25 Td (of ) Tj ET Q q 0 0 0 rg BT 327.75 108.25 Td (the ) Tj ET Q q 0 0 0 rg BT 342.80 108.25 Td (amendments ) Tj ET Q q 0 0 0 rg BT 396.18 108.25 Td (at ) Tj ET Q q 0 0 0 rg BT 406.23 108.25 Td (a ) Tj ET Q q 0 0 0 rg BT 413.50 108.25 Td (meeting ) Tj ET Q q 0 0 0 rg BT 448.54 108.25 Td (having ) Tj ET Q q 0 0 0 rg BT 478.59 108.25 Td (the ) Tj ET Q q 0 0 0 rg BT 493.64 108.25 Td (requisite ) Tj ET Q q 0 0 0 rg BT 530.90 108.25 Td (quorum ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 96.25 Td (under ) Tj ET Q q 0 0 0 rg BT 75.27 96.25 Td (the ) Tj ET Q q 0 0 0 rg BT 89.99 96.25 Td (Bond ) Tj ET Q q 0 0 0 rg BT 113.97 96.25 Td (T) Tj ET Q q 0 0 0 rg BT 119.38 96.25 Td (erms.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 72.25 Td ( ) Tj ET Q q 0 0 0 rg BT 86.00 72.25 Td (On ) Tj ET Q q 0 0 0 rg BT 100.33 72.25 Td (December ) Tj ET Q q 0 0 0 rg BT 143.53 72.25 Td (13, ) Tj ET Q q 0 0 0 rg BT 158.14 72.25 Td (2018, ) Tj ET Q q 0 0 0 rg BT 182.75 72.25 Td (the ) Tj ET Q q 0 0 0 rg BT 197.08 72.25 Td (Company) Tj ET Q q 0 0 0 rg BT 235.31 72.25 Td (, ) Tj ET Q q 0 0 0 rg BT 239.92 72.25 Td (signed ) Tj ET Q q 0 0 0 rg BT 268.14 72.25 Td (a ) Tj ET Q q 0 0 0 rg BT 274.69 72.25 Td (memorandum ) Tj ET Q q 0 0 0 rg BT 332.35 72.25 Td (of ) Tj ET Q q 0 0 0 rg BT 342.79 72.25 Td (agreement ) Tj ET Q q 0 0 0 rg BT 386.54 72.25 Td (to ) Tj ET Q q 0 0 0 rg BT 396.43 72.25 Td (sell ) Tj ET Q q 0 0 0 rg BT 412.43 72.25 Td (a ) Tj ET Q q 0 0 0 rg BT 418.97 72.25 Td (2001 ) Tj ET Q q 0 0 0 rg BT 441.09 72.25 Td (built ) Tj ET Q q 0 0 0 rg BT 461.53 72.25 Td (Supramax ) Tj ET Q q 0 0 0 rg BT 504.19 72.25 Td (vessel ) Tj ET Q q 0 0 0 rg BT 530.74 72.25 Td (for ) Tj ET Q q 0 0 0 rg BT 544.51 72.25 Td ($6.8 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 60.25 Td (million. ) Tj ET Q q 0 0 0 rg BT 83.71 60.25 Td (The ) Tj ET Q q 0 0 0 rg BT 101.76 60.25 Td (Company ) Tj ET Q q 0 0 0 rg BT 143.14 60.25 Td (is ) Tj ET Q q 0 0 0 rg BT 152.31 60.25 Td (expected ) Tj ET Q q 0 0 0 rg BT 190.35 60.25 Td (to ) Tj ET Q q 0 0 0 rg BT 200.63 60.25 Td (deliver ) Tj ET Q q 0 0 0 rg BT 230.89 60.25 Td (of ) Tj ET Q q 0 0 0 rg BT 241.72 60.25 Td (the ) Tj ET Q q 0 0 0 rg BT 256.44 60.25 Td (vessel ) Tj ET Q q 0 0 0 rg BT 283.37 60.25 Td (in ) Tj ET Q q 0 0 0 rg BT 293.65 60.25 Td (the ) Tj ET Q q 0 0 0 rg BT 308.37 60.25 Td (first ) Tj ET Q q 0 0 0 rg BT 326.98 60.25 Td (quarter ) Tj ET Q q 0 0 0 rg BT 357.79 60.25 Td (of ) Tj ET Q q 0 0 0 rg BT 368.62 60.25 Td (2019.) Tj ET Q endstream endobj 41 0 obj <> /View <>>>>> endobj 42 0 obj <> /View <>>>>> endobj 43 0 obj <> endobj 44 0 obj <> stream xy\E7~n{{w'd'52 HaGPPA!"" b-&h,+TLy?:uk?uΩoH""?W~.Xv3&rm 2\jMgwm'CڴzlycǏ\ rBjx\DsV@{twocmC{Iwl11z:1m!t-\q3D.:yz'Wɨp[_F=>E"ǢӦ/|K&_~=!wn-az3¦h$7,ؑ2Oo_eSFLlk}Fg[F>|;