INTERNATIONAL SAFETY MANAGEMENT (ISM) CODE

International Safety Management (ISM) Code, which started with further recognizing the need for the ship’s safe operation and
for pollution prevention and was developed by the International Maritime Organization (IMO), in reality, to prevent sea casualties
and marine pollution accidents caused by human errors, is now Ch apter IX of SOLAS, which applies to ships, regardless of the
date of construction, i.e. passenger ships including passenger high speed craft, oil tankers, chemical tankers, gas carriers,
bulk carriers and cargo high speed craft of 500 gross tonnage and upwards, not later than 1 July, 1998 and other cargo ships and
mobile offshore drilling units of 500 gross tonnage and upwards, not later than 1 July, 2002.

INTERNATIONAL SHIP AND PORT FACILITY SECURITY (ISPS) CODE

International Ship and Port Facility Security (ISPS) Code means the International Code for the Security of Ships and Port Facilities
consisting of Part A (the provisions of which shall be treated as mandatory) and Part B (the provisions of which shall be treated
as recommendatory), as adopted, on 12 December 2002, by Resolution 2 of the Conference of Contracting Governments to the
International Convention for the Safety of Life at Sea, 1974 as may be amended by the Organization.

MARITIME LABOUR CONVENTION (MLC)

Maritime Labour Convention (MLC) is and International Labour Organization convention established in 2006 as the fourth pillar
on international maritime laws and embodies “all up-to-date standards of existing international maritime labour conventions and
recommendations, as well as the fundamental principles to be found in other International Labour Conventions. “The other” pillars
are the SOLAS, STCW and MARPOL. The treaties applies to all ships entering the harbours of parties to the treaty (port states),
as well as to all states flying the flag of state party.

The convention entered into force on 20TH August 2013, one year after registering 30 ratifications of countries representing over 33
percent of the world gross tonnage of ships. As of the August 2016, the convention has been ratified by 77 states representing over
87 percent of global shipping. Although the Convention has not been rarified worldwide, it has wide spread effect because vessels
from non-signatory states that attempt to enter ports of signatory states may face arrest and penalties for non-compliance with the MLC.