• Report of the AGM proceedings and resolutions adopted

Dear Sirs

At the Annual General Meeting held on 26th October 2009, the Report and Accounts as audited and certified for the period ended 20th February 2009 were adopted by the Meeting.

The retiring Directors who offered themselves for re-election were all re-elected. In addition, the following were also elected to the Board:

Mr H. V. Franco, Harley Marine Services Inc

Mr S.L. Ghomri, Hyproc Shipping Company SPA

Mr R.C. Gillett, Bermuda resident

Mr J. Liberty, Royal Caribbean Cruises Ltd

Mr N. Mukae, Kumiai Senpaku Co., Ltd

Mr H. Takahashi, Nippon Oil Tanker Corporation

Mr R.D. Widdows, Neptune Orient Lines Limited

Messrs Moore Stephens & Butterfield were appointed as the Association's auditors.

At the Directors' meeting following the Annual General Meeting, Mr C.I. Caroussis was elected as Chairman and President of the Association. Mr E. André, P. Decavèle and Mr A.K. Olivier were elected as Deputy Chairmen and Vice-Presidents.

Yours faithfully