The former Sealift/Frontline Suezmax tanker "Front Granite", now owned by Granite B.V., a wholly owned subsidiairy of Dockwsise Ltd., "Trustee", has been delivered to Cosco Zhoushan Shipyard on March 20, 2008 and the conversion into a heavy lift

vessel will start. The conversion from a tanker into a heavy lift vessel embodies the complete

renewal of the entire midship section after removing the original cargo section.

Construction of the new midship section started already mid September 2007 and

is at present ongoing, whilst erection of double bottom has started beginning of this

year. The new midship section of 130 x 44.5 x 14 mtr., which will replace the old

midbody of 174 x 44.5 x 24 mtr., will be joined to the original bow and stern

section. The conversion of the remaining Sealift/Frontline single hull Suezmax tankers to

semi- submersible heavy lift vessels is in full progress and the last three (3) vessels

will join the fleet during 2008.