Amendment No. 2 to Shipbuilding Contract
(Hull BN 460)
THIS AMENDMENT NO. 2 TO SHIPBUILDING CONTRACT is made as of October 28, 2005 by and
between AKER PHILADELPHIA SHIPYARD, INC. (formerly Kvaerner Philadelphia Shipyard Inc.) a
corporation organized under the laws of Pennsylvania, having its principal office at 2100 Kitty Hawk Avenue,
Philadelphia, PA 19112 (the "BUILDER") and MATSON NAVIGATION COMPANY, INC., a corporation
organization under the laws of Hawaii, having its principal office at 555 12th Street, Oakland, CA 94607 (the
R E C I T A L S
WHEREAS, the parties entered into that certain Shipbuilding Contract dated as of February, 14, 2005 for the
purchase of one (1) CV 2500 type container vessel, designated as Builder's Hull No. BN 460 (the "Shipbuilding
WHEREAS, the parties wish to amend the Shipbuilding Contract to reflect the change in BUILDER'S corporate
name and identity.
NOW, THEREFORE, in consideration of the foregoing premises, and for other good and valuable consideration,
the receipt and adequacy of which are acknowledged, the parties hereby agree to amend the Shipbuilding
Contract as follows:
1. In the first Paragraph, delete the word "KVAERNER" and replace it with the word "AKER."
2. Description of Vessel. Paragraph 1 of Article I is hereby amended by deleting "KPSI" in the fourth line and
replacing it with "APSI."
3. Notice Paragraph 1 of Article XIX is hereby amended by deleting "Kvaerner Philadelphia Shipyard Inc. in the
Paragraph marked "TO THE BUILDER" and replacing it with "Aker Philadelphia Shipyard, Inc."
4. No Additional Changes Except as otherwise herein expressly provided, all other provisions of the Shipbuilding
Contract shall remain in full force and effect.
5. Counterparts. The Amendment may be executed in any number of counterparts, each of which shall be
deemed to be an original and all of which when taken together shall constitute one and the same instrument.
IN WITNESS WHEREOF, the parties have duly executed this