BETTY SHIPPING LIMITED

Ship and or vessel means the motor vessel "ellen knutsen" with call sign LAKZ4 registered in the norwegian international ship register and under the ownership of the mortgagor see image for full details.

The earning and requisition compenstaion in relation to M.V. "ellen knvtsen" see image for full details.

The mortgage being- a first priority norwegian ship mortgage see image for full details.

All amount due from any underwriters under any insurance policies in respect of the vessel M.V. "ellen knutsen" see image for full details.

The vessel- M.V. "ellen knutsen" see image for full details.

The vessel "pascale knutsen" with official number 903446, together with all her engines, machinery, boats. See image for full details.

All rights, title and interests to the insurances in respect of the vessel "pascale knutsen" see image for full details.

All right to and interest in the amount at any time credited or deposited on a/no 5209.04.94562.

All rights, title, benfits under a bareboat charterparty dated 14 july 2005 see image for full details.

The mortgage and vessel "betty knutsen" registered under the flag of norway.

All rights and interest under the insurances of the vessel "betty knutsen".

All rights, title, benefits under the bareboat charterparty all monies whatsoever payable to the company under the bareboat charterparty including all charter hire and claims for damages in respect of any breach by the borrower of the bareboat charterparty. See the mortgage charge document for full details.

All amounts due from any underwriters under any insurance policies taken out on the vessel m/t "betty knutsen" as payment of losses or as a return of premia or otherwise, and all other sums whatsoever due or to become due in respect of the vessel or the insurance thereof (the "insurances").

The ship being vessel "betty knutsen", signal letters LAMC5 as entered into the norwegian international ship register, built in the year 1999 with the home port of haugesund including its various parts and appurtenances and all the proceeds of all insurance sums for the ship. See the mortgage charge document for full details.

The ship being the vessel "betty knutsen", signal letters LAMC5 as entered into the norwegian international ship register, built in the year 1999 with the home port of haugesund including its various parts and appurtenances and all the proceeds of all insurance sums for the ship. See the mortgage charge document for full details.

All right to and interest in the amount credited or deposited on account no. 5209.04.94562 with the agent.

All 64/64TH shares in the vessel "pascale knutsen" with official number 903446 see image for full details.

All the company's right title benefit and interest in and to the shuttle tanker "betty knudsen" registered in the norwegian international ship register with imo number IMO9172870 and in all insurance sums thereof and thereon. See the mortgage charge document for full details.

All right title interest and benefit in the earnings, the vessel management agreement, the bareboat charterer's earnings assignment together with certain clauses (as named therein) of the put option agreement. See the mortgage charge document for full details.

All of the right, title and interest, present and future, actual or contingent of the company in, to and under the veba time charter assignment (including its right, title and interest by virtue of the veba time charter assignment of the bareboat charterer's right, title and interest in, to and under the veba time charter, the insurances and any requisition compensation) and all claims, rights and remedies of the company arising therefrom (including all damages and compensation payable for or in respect thereof).

The vessel M.V. "betty knutsen" built 1999 and all her appurtenances and all insurance sums. See the mortgage charge document for full details.

The oil products and chemical tanker named "betty knutsen" entered in the norwegian internation ship register built in the year 1999. see the mortgage charge document for full details.

The company's undertaking property and assets whatsoever and wheresoever present and future including uncalled capital and the proceeds off any future calls. See the mortgage charge document for full details.

All the company's right title and interest in and to a).the insurances and all payments arising and in respect thereof b).any requisition compensation c).all sums of money at present or in future standing to the name of the company to the credit of an account on or after the date of the deed and all proceeds thereof d) the charterparty, the knutsen guarantee of charter, the secondary put option agreement, the deed of mainenance guarantee, the knutsen time charter, the petrofina time charter and the bareboat charterer assignment and all claims and rights accruing therefrom and e) the novated shipbuilding contracts and the novation agreement all in relation to the vessel named "betty knutsen" to be registered under the flag of the norwegian international ship registry and all parts and equipment thereon and all related rights thereto under the deed.