This is to notify you that Force Majeure events commenced at ports on the U.S. West Coast on or about September 29, 2002 and are ongoing. These Force Majeure events consist of labor disputes that have effectively shut down the U.S. West Coast ports. They are entirely beyond Hatsu Marine Limited's control. Hatsu Marine Limited is now unable to move or deliver cargo through these ports or to perform any contract obligations which are in any way dependent on its ability to do so.

While the Force Majeure condition is temporary, we have no way of knowing now when it will end. Please note that this is a notification of Force Majeure, it is not an attempt to terminate any agreements.

2002-10-08

HATSU MARINE LIMITED