CHINA TRANSWORLD SHIPPING CORPORATION

3333 Binhai Street,Liaoning,China
Tel: (0411)5000000 Fax:(0411)5000001
Zip code:116001
September 13,2003

Mr.Jason Goodman
Senior Shipping Clerk
Northgranary Cereals,Inc.
616 Taiyangdao Street
Harbin 116001

Dear Mr.Goodman:

Thank you for your fax of September 11. We are pleased to inform you that we have been able to secure the vessel you asked for.

She is the SS Bohai and is docked at present in Lianyungang.She has a cargo capacity of eight thousand tons,is a bulk carrier,and has a speed of 24 knots which will certainly be able to make the number of trips you mentioned.

Please fax us to confirm the charter and we will send you the charter party.

Yours sincerely,

Liu Hanchen

Charter Department