1044-00006 · Hargrove, Delacroix & Stern LLP · Experts

expert-retention-letter-sorensen.docx DOCUMENT Litigation

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PRIVILEGED & CONFIDENTIAL ATTORNEY WORK PRODUCT

CALDERWOOD & HARKNESS LLP Attorneys at Law

One Liberty Plaza, 50th Floor New York, New York 10006 Telephone: (212) 455-7000 Facsimile: (212) 455-7100 www.calderwoodharkness.com

February 1, 2024

Dr. Henrik Sørensen, Principal Nordic Maritime Consulting Group ApS Amaliegade 33 1256 Copenhagen K Denmark

Re: Retention as Maritime Engineering Expert — Northwind Maritime Corporation v. Thalassa Shipping & Logistics SA and Aegean Fortuna Shipholding Ltd., Index No. 655421/2023, Supreme Court of the State of New York, New York County, Commercial Division

C&H Matter No. 1044-00006

Dear Dr. Sørensen:

1. Engagement and Purpose

Calderwood & Harkness LLP ("C&H" or the "Firm") represents Thalassa Shipping & Logistics SA ("TSL"), a Société Anonyme organized and existing under the laws of the Hellenic Republic, and its wholly owned subsidiary, Aegean Fortuna Shipholding Ltd., a Liberian limited liability company (Liberian Registration No. LR-C-20167845) (together, "Defendants"), in the above-captioned litigation. The matter is currently pending before the Honorable Lorraine K. Chen, J.S.C., Part 49, Commercial Division, Supreme Court of the State of New York, New York County.

The plaintiff in this action is Northwind Maritime Corporation ("Northwind"), a marshall Islands corporation with its principal place of business in Stamford, Connecticut. Northwind is represented by Hargrove, Delacroix & Stern LLP, with Margaret Delacroix serving as lead partner on the matter.

By this letter, we are writing to confirm our engagement of you, Dr. Henrik Sørensen, through your firm Nordic Maritime Consulting Group ApS ("NMCG"), to serve as TSL's maritime engineering expert witness in connection with the defense of charter-party breach claims relating to the vessel M/V Aegean Fortuna (IMO Number 9847231). The purpose of this retention is to engage you to provide expert opinions on issues of maritime engineering, vessel maintenance, seaworthiness, and related technical matters central to the defense of this case. We anticipate that your engagement will encompass the preparation of a written expert report, and that you will, if necessary, be available to testify at deposition and at trial in this matter. This letter sets forth the terms and conditions of the engagement.

2. Background of the Dispute

To provide context for the scope of your assignment, we summarize below the factual background of the dispute. A more detailed factual background memorandum will follow under separate cover, dated February 5, 2024.

The dispute arises out of a thirty-six (36) month time charter-party, based on the NYPE 2015 form (as amended by the parties), executed on December 3, 2020, bearing Reference No. NW-TSL-CP-2020-1203 (the "Charter-Party"), for the M/V Aegean Fortuna. The Charter-Party charter commenced on January 15, 2021 and was scheduled to expire on January 14, 2024. The agreed daily hire rate under the Charter-Party was $14,750 per day, yielding a total charter value over the full term of the Charter-Party of approximately $16,166,000.

The M/V Aegean Fortuna is a Supramax dry bulk carrier, with a deadweight tonnage (DWT) of 58,200 metric tons. The vessel was built in 2016, carries IMO Number 9847231, is flagged in the Republic of Liberia, and is classified by the Global Maritime Classification Bureau ("GMCB"). The registered owner of the vessel is Aegean Fortuna Shipholding Ltd., a wholly owned Liberian subsidiary of TSL.

Northwind commenced this action on October 2, 2023, alleging that TSL breached its maintenance and seaworthiness obligations under Clauses 2 and 6 of the Charter-Party and that TSL deviated from agreed trade routes in violation of the Charter-Party's terms. Northwind claims total damages of approximately $18,300,000, broken down into several categories including, among others: (i) off-hire deductions for a total of sixty-eight (68) days of alleged off-hire time; (ii) liquidated damages pursuant to Clause 28 of the Charter-Party, subject to a contractual cap of $4,500,000; (iii) substitute charter costs incurred during periods of off-hire; (iv) cargo damage claims; (v) demurrage; and (vi) other consequential and incidental damages.

TSL denies Northwind's claims in their entirety. TSL filed a Verified Answer and Counterclaim on November 17, 2023, denying the material allegations of the Complaint and asserting a counterclaim against Northwind in the amount of $1,620,000 for unpaid hire owed under the Charter-Party.

3. Scope of Expert Assignment

Dr. Sørensen's engagement encompasses the following areas of expert analysis and opinion, each of which is described in greater detail below. We note at the outset that the scope of the engagement may be refined or expanded as the case develops, and we will keep you informed of any changes that may affect the nature or extent of your work.

3.1 Incident 1 — Main Engine Turbocharger Failure (March 12 – April 2, 2022)

On or about March 12, 2022, the M/V Aegean Fortuna experienced a main engine turbocharger failure while transiting the Indian Ocean en route from Paradip, India to Mombasa, Kenya. As a result of the failure, the vessel was unable to maintain its service speed and was diverted to Colombo, Sri Lanka, where repairs were conducted. The vessel was off-hire for a total of twenty-two (22) days, from March 12 through April 2, 2022.

TSL's position is that the turbocharger failure was attributable to a latent defect in the turbocharger assembly — specifically, a manufacturing defect in the turbine wheel that was not detectable through routine inspection and maintenance procedures — and therefore does not constitute a breach of TSL's maintenance or seaworthiness obligations under the Charter-Party. Northwind, by contrast, contends that the failure was the product of negligent maintenance and that TSL failed to exercise due diligence in inspecting and servicing the turbocharger unit.

We ask that you analyze the following issues with respect to Incident 1:

(a) Whether the turbocharger failure constitutes a latent defect within the meaning of maritime engineering standards and applicable industry practice;

(b) Whether TSL's maintenance and due diligence practices with respect to the turbocharger were consistent with the applicable standards of care for a Supramax dry bulk carrier of this age, class, and type;

(c) Whether the failure was reasonably discoverable through routine inspection and maintenance protocols, including planned maintenance system ("PMS") schedules and GMCB class survey requirements; and

(d) Whether the repair period of twenty-two (22) days was reasonable under the circumstances, taking into account the nature of the failure, the availability of parts and repair facilities at Colombo, and industry norms for turbocharger repairs of this nature.

In connection with this analysis, we will provide you with, among other documents, GMCB classification records, the turbocharger manufacturer's specifications and service bulletins, TSL's maintenance logs for the vessel's main engine and turbocharger assembly, and the repair records from the Colombo repair yard.

3.2 Incident 2 — Ballast Water Treatment System Malfunction and Auxiliary Boiler Failure (July 8 – July 29, 2022)

On or about July 8, 2022, the M/V Aegean Fortuna experienced a malfunction of its ballast water treatment system ("BWTS") and a failure of its auxiliary boiler while the vessel was loading cargo at Richards Bay, South Africa. The combined effect of these failures rendered the vessel unable to perform its contractual obligations, and the vessel was off-hire for a total of twenty-one (21) days, from July 8 through July 29, 2022.

TSL's position is that the BWTS malfunction was caused by contaminated ballast water that was taken on board at a prior port by or at the direction of Northwind's agents, and that the contamination introduced foreign particulate matter and biological agents into the BWTS filters and UV treatment modules, causing the system to fail. TSL contends that it bore no responsibility for the quality of the ballast water loaded at the direction of the charterer's agents and that the resulting failure is therefore attributable to Northwind, not TSL.

We ask that you analyze the following issues with respect to Incident 2:

(a) The causation of the BWTS malfunction, including an examination of the ballast water intake records, port logs from the relevant prior ports of call, water sample data (if available), and the system's maintenance history;

(b) Whether the contamination theory advanced by TSL is supported by the engineering evidence, including an assessment of the type and concentration of contaminants found in the BWTS system, the consistency of that contamination profile with the ballast water sources identified in the port records, and whether the system's design and maintenance would have been adequate to handle ballast water of normal quality;

(c) Whether the auxiliary boiler failure that occurred contemporaneously with the BWTS malfunction was a causally related event (e.g., resulting from the same source of contamination or from operational stresses caused by the BWTS malfunction) or an independent mechanical failure; and

(d) If the auxiliary boiler failure is determined to be an independent event, whether it is attributable to any deficiency in TSL's maintenance practices or whether it falls within the range of expected equipment failures for a vessel of this age and type.

3.3 Incident 3 — Main Engine Cylinder Liner Failure (November 15 – December 10, 2022)

On or about November 15, 2022, the M/V Aegean Fortuna experienced a main engine cylinder liner failure that required the vessel to be drydocked at Keppel Verolme Shipyard in Rotterdam, the Netherlands. The vessel was off-hire for a total of twenty-five (25) days, from November 15 through December 10, 2022.

TSL concedes that the cylinder liner failure was attributable to a maintenance deficiency, and we do not intend to dispute liability with respect to this incident. However, TSL disputes the quantum of damages claimed by Northwind in connection with Incident 3, including the reasonableness of the off-hire period, the costs of repair, and the consequential damages claimed.

We ask that you opine on the following issues with respect to Incident 3:

(a) The nature and severity of the cylinder liner failure, including the specific mode of failure and the extent of damage to the main engine;

(b) Industry standards for cylinder liner maintenance on Supramax bulk carriers of this age, class, and type, including recommended replacement intervals, inspection protocols, and condition-based monitoring practices;

(c) The reasonableness of the twenty-five (25) day drydocking repair period at Keppel Verolme Shipyard, taking into account the nature and extent of the required repairs, the availability of parts, the scope of additional work performed during the drydocking, and industry norms for repairs of this nature and complexity; and

(d) Whether any portion of the drydocking period was attributable to work that would have been required in the ordinary course of the vessel's maintenance cycle, irrespective of the cylinder liner failure, and therefore should not properly be charged as off-hire time.

3.4 General Seaworthiness and Maintenance Standards

In addition to your analysis of the three specific incidents described above, we ask that you provide opinions on TSL's overall vessel maintenance program for the M/V Aegean Fortuna during the charter period (January 15, 2021 through the date of termination of the Charter-Party). Specifically, we request that you:

(a) Assess the adequacy of TSL's Planned Maintenance System ("PMS") for the M/V Aegean Fortuna, including the scope, frequency, and documentation of scheduled maintenance tasks;

(b) Evaluate TSL's compliance with GMCB classification requirements, including annual surveys, intermediate surveys, and any special surveys that fell within the charter period;

(c) Assess TSL's compliance with applicable international maritime standards, including, without limitation, the International Convention for the Safety of Life at Sea ("SOLAS"), the International Convention for the Prevention of Pollution from Ships ("MARPOL"), and the International Safety Management ("ISM") Code;

(d) Evaluate whether TSL met the contractual standard of maintaining the vessel in a "thoroughly efficient state of hull, machinery, and equipment" as required by Clause 6 of the Charter-Party (NYPE 2015 form, as amended), taking into account the vessel's age, trade pattern, and operating conditions during the charter period; and

(e) Provide any other opinions on seaworthiness and maintenance standards that you believe are relevant to the issues in this case.

3.5 Rebuttal of Opposing Expert

We anticipate that Northwind will retain Capt. Julian Blackmore (Ret.) of Blackmore Maritime Advisory Ltd., London, United Kingdom, as its maritime operations expert. Capt. Blackmore is expected to provide opinions on seaworthiness, causation, and maintenance standards. Upon receipt of Capt. Blackmore's expert report, we may ask you to review that report and prepare a rebuttal expert report addressing any opinions with which you disagree.

Your rebuttal opinions may address, among other things, Capt. Blackmore's methodology, the factual premises underlying his opinions, his application of maritime engineering and maintenance standards, and any conclusions that you believe are not supported by the engineering evidence or are inconsistent with accepted industry practice.

4. Deliverables

The deliverables expected under this engagement include the following:

(a) Initial Expert Report. You will prepare an initial expert report setting forth your opinions, the bases and reasons for those opinions, the data and other information considered in forming those opinions, any exhibits to be used in support of your opinions, and your qualifications and prior testimony history. The initial expert report is to be prepared and served in accordance with the court-ordered discovery schedule. Based on the current scheduling order, we anticipate that your initial expert report will be served on or about August 5, 2024, although this date is subject to change by order of the Court.

(b) Rebuttal Expert Report. If necessary, you will prepare a rebuttal expert report addressing the opinions of Northwind's expert, Capt. Julian Blackmore (Ret.), to be prepared and served on the schedule established by the Court. We will advise you of the applicable deadline once the Court sets the rebuttal expert schedule.

(c) Deposition Testimony. You should be prepared and available for deposition by Northwind's counsel (Hargrove, Delacroix & Stern LLP). The deposition will likely take place in New York, New York at the offices of C&H or at such other location as may be agreed by the parties. We will coordinate the scheduling of your deposition with you well in advance.

(d) Trial Testimony. If the matter does not resolve prior to trial, you should be prepared and available to testify as an expert witness at trial in the Supreme Court of the State of New York, New York County, Commercial Division. Trial is not currently scheduled, but we will keep you informed of the trial calendar as the case progresses.

(e) Interim Consultations. Throughout the course of the engagement, we will seek your input and analysis on an ongoing basis as part of our trial preparation. This will include, among other things, review and analysis of documents produced in discovery, inspection of the M/V Aegean Fortuna (if feasible and if access can be arranged), preparation of demonstrative exhibits for use at deposition and trial, and periodic conferences with the C&H litigation team to discuss strategy, case developments, and the status of your work.

5. Materials and Information

C&H will provide you with the relevant case materials necessary for you to perform the work described in this letter. The materials that we expect to provide to you include, without limitation, the following:

(a) The Charter-Party (NYPE 2015 form, as amended by the parties), Reference No. NW-TSL-CP-2020-1203;

(b) Vessel maintenance logs for the M/V Aegean Fortuna, including PMS records, engine room logbooks, and maintenance work orders;

(c) GMCB classification records and inspection reports, including annual survey reports, intermediate survey reports, and condition of class records;

(d) Repair records for all three incidents described in Section 3 above, including shipyard repair specifications, invoices, and completion certificates;

(e) Voyage logs and port records for the M/V Aegean Fortuna during the charter period;

(f) Correspondence between TSL and Northwind relating to the Charter-Party and the incidents at issue;

(g) Deposition transcripts, as they become available during the course of discovery;

(h) The Complaint filed by Northwind on October 2, 2023, and TSL's Verified Answer and Counterclaim filed on November 17, 2023 (copies of which are enclosed herewith); and

(i) Opposing expert reports, when received.

As noted above, a separate factual background memorandum, prepared by the C&H litigation team, will be provided to you under separate cover on or about February 5, 2024. That memorandum will contain a detailed narrative of the relevant facts and a summary of the key documents and issues in the case, and is intended to supplement the materials described above.

We ask that you refrain from independently contacting any party, witness, or counsel in this matter without prior authorization from C&H. All communications relating to the substance of this engagement should be directed through the C&H contacts identified in Section 11 below. This instruction is intended to preserve the confidentiality and privilege protections applicable to your work as a consulting and testifying expert retained by litigation counsel.

6. Compensation

Nordic Maritime Consulting Group ApS will be compensated for the services rendered under this engagement on an hourly basis, at the following rates:

(a) Dr. Henrik Sørensen (Principal): $675.00 per hour for all professional services, including report preparation, document review, analysis, conferences with counsel, deposition and trial testimony, and travel time.

(b) Associate Consultants and Engineers: Associate-level consultants and engineers supporting Dr. Sørensen's work on this engagement will be billed at rates ranging from $325.00 to $475.00 per hour, depending on the experience and seniority of the individual. The specific rates for any associate consultants or engineers to be assigned to this engagement will be confirmed in advance with C&H.

All reasonable travel expenses incurred in connection with the engagement will be reimbursed at cost. This includes, without limitation, airfare (business class for international travel), ground transportation, hotel accommodations, and meals incurred in connection with travel to New York, New York for depositions and trial, as well as any travel required for vessel inspections or other field work. Receipts for all reimbursable expenses should be included with your monthly invoices.

Invoices for professional services and expenses should be submitted on a monthly basis to Calderwood & Harkness LLP, addressed to the attention of Carlos Espinoza, Lead Associate, at the address set forth in the letterhead of this letter. Each invoice should include a reasonably detailed description of the services performed and the time expended by each professional, as well as an itemization of reimbursable expenses with supporting receipts.

Payment terms are net thirty (30) days from receipt of invoice by C&H.

We wish to emphasize that your compensation under this engagement is not contingent upon the outcome of the litigation or upon the substance of the opinions you render. You are being retained to provide your independent, honest professional judgment, and your compensation will not be affected in any way by whether your opinions are favorable or unfavorable to TSL's position in the case.

The total fees for the engagement are currently estimated at approximately $285,000, based on our preliminary assessment of the scope of work likely to be required. We recognize, however, that actual fees will depend on the scope of work performed, the complexity of the issues encountered, and the course of the litigation, including whether the case proceeds to trial or is resolved through settlement or other means. We will endeavor to keep you informed of any developments that may materially affect the scope of the engagement or the expected level of fees.

7. Confidentiality Obligations

All materials, information, and communications provided to you by C&H or TSL in connection with this engagement are confidential and are protected by the attorney-client privilege and/or the attorney work product doctrine. You are being retained as an expert consultant and potential testifying expert by litigation counsel, and the communications between you and C&H, as well as the materials prepared by or at the direction of C&H in connection with this engagement, are entitled to the full protections afforded by applicable law to attorney-client communications and attorney work product.

You shall not disclose any confidential information to any third party without the prior written consent of C&H. For purposes of this engagement, "confidential information" includes, without limitation, all documents, data, correspondence, analyses, draft reports, notes, memoranda, and communications of any kind that are provided to you by C&H or TSL, or that are generated by you or your associates in connection with your work on this matter.

You shall maintain all materials received from C&H or TSL in a secure location, whether in physical or electronic form, and shall take reasonable measures to prevent unauthorized access to or disclosure of such materials. Electronic files should be stored on encrypted, password-protected systems, and physical documents should be maintained in a locked and controlled environment.

Upon the conclusion of this engagement, at C&H's direction, you shall either return all materials to C&H or destroy all materials in your possession, custody, or control, and shall provide written certification of such return or destruction. Until C&H provides such direction, you should retain all materials in accordance with the security requirements set forth above.

These confidentiality obligations shall survive the termination or expiration of this engagement and shall remain in full force and effect regardless of the reason for termination.

8. Independence and Objectivity

You are retained to provide independent, objective expert opinions based upon your professional expertise, training, and experience, and upon the factual record as established by the evidence in this case. C&H expects and requires that your opinions will be based on your honest professional judgment, irrespective of whether such opinions are favorable or unfavorable to TSL's position in the litigation.

We value the integrity and credibility of your work product, and we recognize that the persuasive force of your testimony depends in significant part on the independence and objectivity with which you approach the issues in the case. Accordingly, we ask that you inform us promptly if, at any point during the engagement, you arrive at a conclusion or opinion that is adverse to TSL's position, so that we can discuss the implications for our case strategy and make informed decisions about how to proceed.

By signing this letter, you confirm that you have no conflict of interest with respect to any party in this litigation, including Thalassa Shipping & Logistics SA, Aegean Fortuna Shipholding Ltd., Northwind Maritime Corporation, or any of their respective affiliates, officers, directors, employees, or counsel. You further confirm that your participation in this engagement will not compromise or be compromised by any other professional obligation or relationship.

9. Conflict Check and Prior Engagements

You confirm that neither you nor Nordic Maritime Consulting Group ApS has any current or prior engagement, relationship, or affiliation that would create a conflict of interest with this retention, or that would impair your ability to provide independent and objective expert opinions in this matter. This includes, without limitation, any prior or current engagement by or on behalf of Northwind Maritime Corporation, its counsel (Hargrove, Delacroix & Stern LLP), or any entity affiliated with Northwind, as well as any prior engagement relating to the M/V Aegean Fortuna or the Charter-Party at issue in this case.

You shall promptly notify C&H if any actual or potential conflict of interest arises during the course of the engagement, including any new engagement or professional relationship that could reasonably be perceived as impairing your independence or objectivity with respect to this matter.

10. Termination

Either party may terminate this engagement upon thirty (30) days' written notice to the other party. In the event of termination by either party, you shall be compensated for all services rendered and all reasonable expenses incurred through the date of termination, in accordance with the compensation terms set forth in Section 6 above.

Upon termination, you shall comply with C&H's instructions regarding the return or destruction of all confidential materials in your possession, as set forth in Section 7 above. The confidentiality obligations set forth in Section 7, and the independence and objectivity commitments set forth in Section 8, shall survive the termination or expiration of this engagement.

11. Primary Contacts at Calderwood & Harkness LLP

The following attorneys at Calderwood & Harkness LLP are the primary contacts for this engagement. Please direct all communications, inquiries, document transmittals, and invoices to the appropriate individual as indicated below:

Douglas Carmichael — Responsible Partner Telephone: (212) 455-7112

Email: dcarmichael@calderwoodharkness.com

Mr. Carmichael has primary oversight responsibility for this engagement and for the overall management of the defense of this matter.

Francesca Morano — Billing Partner Telephone: (212) 455-7245

Email: fmorano@calderwoodharkness.com

Ms. Morano is the billing partner for this engagement and may be contacted with respect to any billing or fee-related questions.

Carlos Espinoza — Lead Associate Telephone: (212) 455-7389

Email: cespinoza@calderwoodharkness.com

Mr. Espinoza is the day-to-day contact for the engagement. All communications, document transmittals, and invoices should be directed to Mr. Espinoza in the first instance.

Hannah Brinkley — Working Associate Telephone: (212) 455-7412

Email: hbrinkley@calderwoodharkness.com

Ms. Brinkley will be in regular contact with you regarding document review, analysis coordination, and preparation of materials in connection with your expert work.

All of the above may be reached at Calderwood & Harkness LLP, One Liberty Plaza, 50th Floor, New York, New York 10006.

12. Client Information

The client in this matter is Thalassa Shipping & Logistics SA, headquartered at 42 Akti Miaouli, Piraeus 185 38, Greece. TSL's General Counsel is Markos Theodorakis, and TSL's Chief Executive Officer and Chairman is Alexandros Stavridis.

TSL is a major international shipping company that operates a fleet of approximately thirty-four (34) vessels, including dry bulk carriers, tankers, and container vessels. TSL reported annual revenue of approximately $612 million for fiscal year 2022.

As noted above, the registered owner of the M/V Aegean Fortuna is Aegean Fortuna Shipholding Ltd., a wholly owned Liberian subsidiary of TSL. While Aegean Fortuna Shipholding Ltd. is a co-defendant in this action, TSL exercises full operational and managerial control over the vessel and is the party with primary responsibility for the maintenance and seaworthiness obligations at issue in this case.

13. Acceptance and Countersignature

If the terms of this retention are acceptable to you, please indicate your acceptance by signing and returning a copy of this letter to C&H at the address above, or by signing and returning a scanned copy by email to Carlos Espinoza at cespinoza@calderwoodharkness.com. By signing below, you acknowledge and agree to the terms set forth herein, including, without limitation, the terms relating to compensation (Section 6), confidentiality (Section 7), independence and objectivity (Section 8), and conflict of interest (Section 9).

We ask that you return the signed copy of this letter at your earliest convenience, and in any event no later than February 15, 2024, so that we may finalize the retention and begin transmitting materials to you for review.

We look forward to working with you on this matter. Your expertise in maritime engineering and vessel maintenance will be an invaluable asset to the defense of this case, and we are confident that your analysis will make a significant contribution to our client's position. Please do not hesitate to contact Carlos Espinoza or me directly if you have any questions regarding the terms of this engagement or the scope of the work described herein.

Very truly yours,

CALDERWOOD & HARKNESS LLP

By: ________

Douglas Carmichael Partner

Telephone: (212) 455-7112

Email: dcarmichael@calderwoodharkness.com

cc:

Francesca Morano, Partner, Calderwood & Harkness LLP Carlos Espinoza, Associate, Calderwood & Harkness LLP Markos Theodorakis, General Counsel, Thalassa Shipping & Logistics SA

Enclosures:

1. Factual Background Memorandum (to follow under separate cover, dated February 5, 2024)

2. Complaint, Northwind Maritime Corporation v. Thalassa Shipping & Logistics SA et al., Index No. 655421/2023, filed October 2, 2023

3. Verified Answer and Counterclaim, filed November 17, 2023

ACKNOWLEDGMENT AND ACCEPTANCE

I, Dr. Henrik Sørensen, Principal of Nordic Maritime Consulting Group ApS, hereby acknowledge receipt of the foregoing Expert Retention Letter dated February 1, 2024, from Calderwood & Harkness LLP. I have reviewed the terms and conditions set forth therein, including, without limitation, the provisions relating to the scope of the engagement (Sections 1 and 3), compensation (Section 6), confidentiality (Section 7), independence and objectivity (Section 8), conflict of interest and prior engagements (Section 9), and termination (Section 10).

By my signature below, I accept the terms of this retention and agree to be bound by the provisions of the Expert Retention Letter. I confirm that neither I nor Nordic Maritime Consulting Group ApS has any conflict of interest with respect to any party in this litigation, and I commit to providing independent, objective expert opinions based on my honest professional judgment and the factual record.

NORDIC MARITIME CONSULTING GROUP ApS

By: ________

Name: Dr. Henrik Sørensen

Title: Principal

Date: ________

PRIVILEGED & CONFIDENTIAL ATTORNEY WORK PRODUCT
CALDERWOOD & HARKNESS LLP Attorneys at Law
One Liberty Plaza, 50th Floor New York, New York 10006 Telephone: (212) 455-7000 Facsimile: (212) 455-7100 www.calderwoodharkness.com
February 1, 2024
Dr. Henrik Sørensen, Principal Nordic Maritime Consulting Group ApS Amaliegade 33 1256 Copenhagen K Denmark
Re: Retention as Maritime Engineering Expert — Northwind Maritime Corporation v. Thalassa Shipping & Logistics SA and Aegean Fortuna Shipholding Ltd., Index No. 655421/2023, Supreme Court of the State of New York, New York County, Commercial Division
C&H Matter No. 1044-00006
Dear Dr. Sørensen:
1. Engagement and Purpose
Calderwood & Harkness LLP ("C&H" or the "Firm") represents Thalassa Shipping & Logistics SA ("TSL"), a Société Anonyme organized and existing under the laws of the Hellenic Republic, and its wholly owned subsidiary, Aegean Fortuna Shipholding Ltd., a Liberian limited liability company (Liberian Registration No. LR-C-20167845) (together, "Defendants"), in the above-captioned litigation. The matter is currently pending before the Honorable Lorraine K. Chen, J.S.C., Part 49, Commercial Division, Supreme Court of the State of New York, New York County.
The plaintiff in this action is Northwind Maritime Corporation ("Northwind"), a marshall Islands corporation with its principal place of business in Stamford, Connecticut. Northwind is represented by Hargrove, Delacroix & Stern LLP, with Margaret Delacroix serving as lead partner on the matter.
By this letter, we are writing to confirm our engagement of you, Dr. Henrik Sørensen, through your firm Nordic Maritime Consulting Group ApS ("NMCG"), to serve as TSL's maritime engineering expert witness in connection with the defense of charter-party breach claims relating to the vessel M/V Aegean Fortuna (IMO Number 9847231). The purpose of this retention is to engage you to provide expert opinions on issues of maritime engineering, vessel maintenance, seaworthiness, and related technical matters central to the defense of this case. We anticipate that your engagement will encompass the preparation of a written expert report, and that you will, if necessary, be available to testify at deposition and at trial in this matter. This letter sets forth the terms and conditions of the engagement.
2. Background of the Dispute
To provide context for the scope of your assignment, we summarize below the factual background of the dispute. A more detailed factual background memorandum will follow under separate cover, dated February 5, 2024.
The dispute arises out of a thirty-six (36) month time charter-party, based on the NYPE 2015 form (as amended by the parties), executed on December 3, 2020, bearing Reference No. NW-TSL-CP-2020-1203 (the "Charter-Party"), for the M/V Aegean Fortuna. The Charter-Party charter commenced on January 15, 2021 and was scheduled to expire on January 14, 2024. The agreed daily hire rate under the Charter-Party was $14,750 per day, yielding a total charter value over the full term of the Charter-Party of approximately $16,166,000.
The M/V Aegean Fortuna is a Supramax dry bulk carrier, with a deadweight tonnage (DWT) of 58,200 metric tons. The vessel was built in 2016, carries IMO Number 9847231, is flagged in the Republic of Liberia, and is classified by the Global Maritime Classification Bureau ("GMCB"). The registered owner of the vessel is Aegean Fortuna Shipholding Ltd., a wholly owned Liberian subsidiary of TSL.
Northwind commenced this action on October 2, 2023, alleging that TSL breached its maintenance and seaworthiness obligations under Clauses 2 and 6 of the Charter-Party and that TSL deviated from agreed trade routes in violation of the Charter-Party's terms. Northwind claims total damages of approximately $18,300,000, broken down into several categories including, among others: (i) off-hire deductions for a total of sixty-eight (68) days of alleged off-hire time; (ii) liquidated damages pursuant to Clause 28 of the Charter-Party, subject to a contractual cap of $4,500,000; (iii) substitute charter costs incurred during periods of off-hire; (iv) cargo damage claims; (v) demurrage; and (vi) other consequential and incidental damages.
TSL denies Northwind's claims in their entirety. TSL filed a Verified Answer and Counterclaim on November 17, 2023, denying the material allegations of the Complaint and asserting a counterclaim against Northwind in the amount of $1,620,000 for unpaid hire owed under the Charter-Party.
3. Scope of Expert Assignment
Dr. Sørensen's engagement encompasses the following areas of expert analysis and opinion, each of which is described in greater detail below. We note at the outset that the scope of the engagement may be refined or expanded as the case develops, and we will keep you informed of any changes that may affect the nature or extent of your work.
3.1 Incident 1 — Main Engine Turbocharger Failure (March 12 – April 2, 2022)
On or about March 12, 2022, the M/V Aegean Fortuna experienced a main engine turbocharger failure while transiting the Indian Ocean en route from Paradip, India to Mombasa, Kenya. As a result of the failure, the vessel was unable to maintain its service speed and was diverted to Colombo, Sri Lanka, where repairs were conducted. The vessel was off-hire for a total of twenty-two (22) days, from March 12 through April 2, 2022.
TSL's position is that the turbocharger failure was attributable to a latent defect in the turbocharger assembly — specifically, a manufacturing defect in the turbine wheel that was not detectable through routine inspection and maintenance procedures — and therefore does not constitute a breach of TSL's maintenance or seaworthiness obligations under the Charter-Party. Northwind, by contrast, contends that the failure was the product of negligent maintenance and that TSL failed to exercise due diligence in inspecting and servicing the turbocharger unit.
We ask that you analyze the following issues with respect to Incident 1:
(a) Whether the turbocharger failure constitutes a latent defect within the meaning of maritime engineering standards and applicable industry practice;
(b) Whether TSL's maintenance and due diligence practices with respect to the turbocharger were consistent with the applicable standards of care for a Supramax dry bulk carrier of this age, class, and type;
(c) Whether the failure was reasonably discoverable through routine inspection and maintenance protocols, including planned maintenance system ("PMS") schedules and GMCB class survey requirements; and
(d) Whether the repair period of twenty-two (22) days was reasonable under the circumstances, taking into account the nature of the failure, the availability of parts and repair facilities at Colombo, and industry norms for turbocharger repairs of this nature.
In connection with this analysis, we will provide you with, among other documents, GMCB classification records, the turbocharger manufacturer's specifications and service bulletins, TSL's maintenance logs for the vessel's main engine and turbocharger assembly, and the repair records from the Colombo repair yard.
3.2 Incident 2 — Ballast Water Treatment System Malfunction and Auxiliary Boiler Failure (July 8 – July 29, 2022)
On or about July 8, 2022, the M/V Aegean Fortuna experienced a malfunction of its ballast water treatment system ("BWTS") and a failure of its auxiliary boiler while the vessel was loading cargo at Richards Bay, South Africa. The combined effect of these failures rendered the vessel unable to perform its contractual obligations, and the vessel was off-hire for a total of twenty-one (21) days, from July 8 through July 29, 2022.
TSL's position is that the BWTS malfunction was caused by contaminated ballast water that was taken on board at a prior port by or at the direction of Northwind's agents, and that the contamination introduced foreign particulate matter and biological agents into the BWTS filters and UV treatment modules, causing the system to fail. TSL contends that it bore no responsibility for the quality of the ballast water loaded at the direction of the charterer's agents and that the resulting failure is therefore attributable to Northwind, not TSL.
We ask that you analyze the following issues with respect to Incident 2:
(a) The causation of the BWTS malfunction, including an examination of the ballast water intake records, port logs from the relevant prior ports of call, water sample data (if available), and the system's maintenance history;
(b) Whether the contamination theory advanced by TSL is supported by the engineering evidence, including an assessment of the type and concentration of contaminants found in the BWTS system, the consistency of that contamination profile with the ballast water sources identified in the port records, and whether the system's design and maintenance would have been adequate to handle ballast water of normal quality;
(c) Whether the auxiliary boiler failure that occurred contemporaneously with the BWTS malfunction was a causally related event (e.g., resulting from the same source of contamination or from operational stresses caused by the BWTS malfunction) or an independent mechanical failure; and
(d) If the auxiliary boiler failure is determined to be an independent event, whether it is attributable to any deficiency in TSL's maintenance practices or whether it falls within the range of expected equipment failures for a vessel of this age and type.
3.3 Incident 3 — Main Engine Cylinder Liner Failure (November 15 – December 10, 2022)
On or about November 15, 2022, the M/V Aegean Fortuna experienced a main engine cylinder liner failure that required the vessel to be drydocked at Keppel Verolme Shipyard in Rotterdam, the Netherlands. The vessel was off-hire for a total of twenty-five (25) days, from November 15 through December 10, 2022.
TSL concedes that the cylinder liner failure was attributable to a maintenance deficiency, and we do not intend to dispute liability with respect to this incident. However, TSL disputes the quantum of damages claimed by Northwind in connection with Incident 3, including the reasonableness of the off-hire period, the costs of repair, and the consequential damages claimed.
We ask that you opine on the following issues with respect to Incident 3:
(a) The nature and severity of the cylinder liner failure, including the specific mode of failure and the extent of damage to the main engine;
(b) Industry standards for cylinder liner maintenance on Supramax bulk carriers of this age, class, and type, including recommended replacement intervals, inspection protocols, and condition-based monitoring practices;
(c) The reasonableness of the twenty-five (25) day drydocking repair period at Keppel Verolme Shipyard, taking into account the nature and extent of the required repairs, the availability of parts, the scope of additional work performed during the drydocking, and industry norms for repairs of this nature and complexity; and
(d) Whether any portion of the drydocking period was attributable to work that would have been required in the ordinary course of the vessel's maintenance cycle, irrespective of the cylinder liner failure, and therefore should not properly be charged as off-hire time.
3.4 General Seaworthiness and Maintenance Standards
In addition to your analysis of the three specific incidents described above, we ask that you provide opinions on TSL's overall vessel maintenance program for the M/V Aegean Fortuna during the charter period (January 15, 2021 through the date of termination of the Charter-Party). Specifically, we request that you:
(a) Assess the adequacy of TSL's Planned Maintenance System ("PMS") for the M/V Aegean Fortuna, including the scope, frequency, and documentation of scheduled maintenance tasks;
(b) Evaluate TSL's compliance with GMCB classification requirements, including annual surveys, intermediate surveys, and any special surveys that fell within the charter period;
(c) Assess TSL's compliance with applicable international maritime standards, including, without limitation, the International Convention for the Safety of Life at Sea ("SOLAS"), the International Convention for the Prevention of Pollution from Ships ("MARPOL"), and the International Safety Management ("ISM") Code;
(d) Evaluate whether TSL met the contractual standard of maintaining the vessel in a "thoroughly efficient state of hull, machinery, and equipment" as required by Clause 6 of the Charter-Party (NYPE 2015 form, as amended), taking into account the vessel's age, trade pattern, and operating conditions during the charter period; and
(e) Provide any other opinions on seaworthiness and maintenance standards that you believe are relevant to the issues in this case.
3.5 Rebuttal of Opposing Expert
We anticipate that Northwind will retain Capt. Julian Blackmore (Ret.) of Blackmore Maritime Advisory Ltd., London, United Kingdom, as its maritime operations expert. Capt. Blackmore is expected to provide opinions on seaworthiness, causation, and maintenance standards. Upon receipt of Capt. Blackmore's expert report, we may ask you to review that report and prepare a rebuttal expert report addressing any opinions with which you disagree.
Your rebuttal opinions may address, among other things, Capt. Blackmore's methodology, the factual premises underlying his opinions, his application of maritime engineering and maintenance standards, and any conclusions that you believe are not supported by the engineering evidence or are inconsistent with accepted industry practice.
4. Deliverables
The deliverables expected under this engagement include the following:
(a) Initial Expert Report. You will prepare an initial expert report setting forth your opinions, the bases and reasons for those opinions, the data and other information considered in forming those opinions, any exhibits to be used in support of your opinions, and your qualifications and prior testimony history. The initial expert report is to be prepared and served in accordance with the court-ordered discovery schedule. Based on the current scheduling order, we anticipate that your initial expert report will be served on or about August 5, 2024, although this date is subject to change by order of the Court.
(b) Rebuttal Expert Report. If necessary, you will prepare a rebuttal expert report addressing the opinions of Northwind's expert, Capt. Julian Blackmore (Ret.), to be prepared and served on the schedule established by the Court. We will advise you of the applicable deadline once the Court sets the rebuttal expert schedule.
(c) Deposition Testimony. You should be prepared and available for deposition by Northwind's counsel (Hargrove, Delacroix & Stern LLP). The deposition will likely take place in New York, New York at the offices of C&H or at such other location as may be agreed by the parties. We will coordinate the scheduling of your deposition with you well in advance.
(d) Trial Testimony. If the matter does not resolve prior to trial, you should be prepared and available to testify as an expert witness at trial in the Supreme Court of the State of New York, New York County, Commercial Division. Trial is not currently scheduled, but we will keep you informed of the trial calendar as the case progresses.
(e) Interim Consultations. Throughout the course of the engagement, we will seek your input and analysis on an ongoing basis as part of our trial preparation. This will include, among other things, review and analysis of documents produced in discovery, inspection of the M/V Aegean Fortuna (if feasible and if access can be arranged), preparation of demonstrative exhibits for use at deposition and trial, and periodic conferences with the C&H litigation team to discuss strategy, case developments, and the status of your work.
5. Materials and Information
C&H will provide you with the relevant case materials necessary for you to perform the work described in this letter. The materials that we expect to provide to you include, without limitation, the following:
(a) The Charter-Party (NYPE 2015 form, as amended by the parties), Reference No. NW-TSL-CP-2020-1203;
(b) Vessel maintenance logs for the M/V Aegean Fortuna, including PMS records, engine room logbooks, and maintenance work orders;
(c) GMCB classification records and inspection reports, including annual survey reports, intermediate survey reports, and condition of class records;
(d) Repair records for all three incidents described in Section 3 above, including shipyard repair specifications, invoices, and completion certificates;
(e) Voyage logs and port records for the M/V Aegean Fortuna during the charter period;
(f) Correspondence between TSL and Northwind relating to the Charter-Party and the incidents at issue;
(g) Deposition transcripts, as they become available during the course of discovery;
(h) The Complaint filed by Northwind on October 2, 2023, and TSL's Verified Answer and Counterclaim filed on November 17, 2023 (copies of which are enclosed herewith); and
(i) Opposing expert reports, when received.
As noted above, a separate factual background memorandum, prepared by the C&H litigation team, will be provided to you under separate cover on or about February 5, 2024. That memorandum will contain a detailed narrative of the relevant facts and a summary of the key documents and issues in the case, and is intended to supplement the materials described above.
We ask that you refrain from independently contacting any party, witness, or counsel in this matter without prior authorization from C&H. All communications relating to the substance of this engagement should be directed through the C&H contacts identified in Section 11 below. This instruction is intended to preserve the confidentiality and privilege protections applicable to your work as a consulting and testifying expert retained by litigation counsel.
6. Compensation
Nordic Maritime Consulting Group ApS will be compensated for the services rendered under this engagement on an hourly basis, at the following rates:
(a) Dr. Henrik Sørensen (Principal): $675.00 per hour for all professional services, including report preparation, document review, analysis, conferences with counsel, deposition and trial testimony, and travel time.
(b) Associate Consultants and Engineers: Associate-level consultants and engineers supporting Dr. Sørensen's work on this engagement will be billed at rates ranging from $325.00 to $475.00 per hour, depending on the experience and seniority of the individual. The specific rates for any associate consultants or engineers to be assigned to this engagement will be confirmed in advance with C&H.
All reasonable travel expenses incurred in connection with the engagement will be reimbursed at cost. This includes, without limitation, airfare (business class for international travel), ground transportation, hotel accommodations, and meals incurred in connection with travel to New York, New York for depositions and trial, as well as any travel required for vessel inspections or other field work. Receipts for all reimbursable expenses should be included with your monthly invoices.
Invoices for professional services and expenses should be submitted on a monthly basis to Calderwood & Harkness LLP, addressed to the attention of Carlos Espinoza, Lead Associate, at the address set forth in the letterhead of this letter. Each invoice should include a reasonably detailed description of the services performed and the time expended by each professional, as well as an itemization of reimbursable expenses with supporting receipts.
Payment terms are net thirty (30) days from receipt of invoice by C&H.
We wish to emphasize that your compensation under this engagement is not contingent upon the outcome of the litigation or upon the substance of the opinions you render. You are being retained to provide your independent, honest professional judgment, and your compensation will not be affected in any way by whether your opinions are favorable or unfavorable to TSL's position in the case.
The total fees for the engagement are currently estimated at approximately $285,000, based on our preliminary assessment of the scope of work likely to be required. We recognize, however, that actual fees will depend on the scope of work performed, the complexity of the issues encountered, and the course of the litigation, including whether the case proceeds to trial or is resolved through settlement or other means. We will endeavor to keep you informed of any developments that may materially affect the scope of the engagement or the expected level of fees.
7. Confidentiality Obligations
All materials, information, and communications provided to you by C&H or TSL in connection with this engagement are confidential and are protected by the attorney-client privilege and/or the attorney work product doctrine. You are being retained as an expert consultant and potential testifying expert by litigation counsel, and the communications between you and C&H, as well as the materials prepared by or at the direction of C&H in connection with this engagement, are entitled to the full protections afforded by applicable law to attorney-client communications and attorney work product.
You shall not disclose any confidential information to any third party without the prior written consent of C&H. For purposes of this engagement, "confidential information" includes, without limitation, all documents, data, correspondence, analyses, draft reports, notes, memoranda, and communications of any kind that are provided to you by C&H or TSL, or that are generated by you or your associates in connection with your work on this matter.
You shall maintain all materials received from C&H or TSL in a secure location, whether in physical or electronic form, and shall take reasonable measures to prevent unauthorized access to or disclosure of such materials. Electronic files should be stored on encrypted, password-protected systems, and physical documents should be maintained in a locked and controlled environment.
Upon the conclusion of this engagement, at C&H's direction, you shall either return all materials to C&H or destroy all materials in your possession, custody, or control, and shall provide written certification of such return or destruction. Until C&H provides such direction, you should retain all materials in accordance with the security requirements set forth above.
These confidentiality obligations shall survive the termination or expiration of this engagement and shall remain in full force and effect regardless of the reason for termination.
8. Independence and Objectivity
You are retained to provide independent, objective expert opinions based upon your professional expertise, training, and experience, and upon the factual record as established by the evidence in this case. C&H expects and requires that your opinions will be based on your honest professional judgment, irrespective of whether such opinions are favorable or unfavorable to TSL's position in the litigation.
We value the integrity and credibility of your work product, and we recognize that the persuasive force of your testimony depends in significant part on the independence and objectivity with which you approach the issues in the case. Accordingly, we ask that you inform us promptly if, at any point during the engagement, you arrive at a conclusion or opinion that is adverse to TSL's position, so that we can discuss the implications for our case strategy and make informed decisions about how to proceed.
By signing this letter, you confirm that you have no conflict of interest with respect to any party in this litigation, including Thalassa Shipping & Logistics SA, Aegean Fortuna Shipholding Ltd., Northwind Maritime Corporation, or any of their respective affiliates, officers, directors, employees, or counsel. You further confirm that your participation in this engagement will not compromise or be compromised by any other professional obligation or relationship.
9. Conflict Check and Prior Engagements
You confirm that neither you nor Nordic Maritime Consulting Group ApS has any current or prior engagement, relationship, or affiliation that would create a conflict of interest with this retention, or that would impair your ability to provide independent and objective expert opinions in this matter. This includes, without limitation, any prior or current engagement by or on behalf of Northwind Maritime Corporation, its counsel (Hargrove, Delacroix & Stern LLP), or any entity affiliated with Northwind, as well as any prior engagement relating to the M/V Aegean Fortuna or the Charter-Party at issue in this case.
You shall promptly notify C&H if any actual or potential conflict of interest arises during the course of the engagement, including any new engagement or professional relationship that could reasonably be perceived as impairing your independence or objectivity with respect to this matter.
10. Termination
Either party may terminate this engagement upon thirty (30) days' written notice to the other party. In the event of termination by either party, you shall be compensated for all services rendered and all reasonable expenses incurred through the date of termination, in accordance with the compensation terms set forth in Section 6 above.
Upon termination, you shall comply with C&H's instructions regarding the return or destruction of all confidential materials in your possession, as set forth in Section 7 above. The confidentiality obligations set forth in Section 7, and the independence and objectivity commitments set forth in Section 8, shall survive the termination or expiration of this engagement.
11. Primary Contacts at Calderwood & Harkness LLP
The following attorneys at Calderwood & Harkness LLP are the primary contacts for this engagement. Please direct all communications, inquiries, document transmittals, and invoices to the appropriate individual as indicated below:
Douglas Carmichael — Responsible Partner Telephone: (212) 455-7112
Email: dcarmichael@calderwoodharkness.com
Mr. Carmichael has primary oversight responsibility for this engagement and for the overall management of the defense of this matter.
Francesca Morano — Billing Partner Telephone: (212) 455-7245
Email: fmorano@calderwoodharkness.com
Ms. Morano is the billing partner for this engagement and may be contacted with respect to any billing or fee-related questions.
Carlos Espinoza — Lead Associate Telephone: (212) 455-7389
Email: cespinoza@calderwoodharkness.com
Mr. Espinoza is the day-to-day contact for the engagement. All communications, document transmittals, and invoices should be directed to Mr. Espinoza in the first instance.
Hannah Brinkley — Working Associate Telephone: (212) 455-7412
Email: hbrinkley@calderwoodharkness.com
Ms. Brinkley will be in regular contact with you regarding document review, analysis coordination, and preparation of materials in connection with your expert work.
All of the above may be reached at Calderwood & Harkness LLP, One Liberty Plaza, 50th Floor, New York, New York 10006.
12. Client Information
The client in this matter is Thalassa Shipping & Logistics SA, headquartered at 42 Akti Miaouli, Piraeus 185 38, Greece. TSL's General Counsel is Markos Theodorakis, and TSL's Chief Executive Officer and Chairman is Alexandros Stavridis.
TSL is a major international shipping company that operates a fleet of approximately thirty-four (34) vessels, including dry bulk carriers, tankers, and container vessels. TSL reported annual revenue of approximately $612 million for fiscal year 2022.
As noted above, the registered owner of the M/V Aegean Fortuna is Aegean Fortuna Shipholding Ltd., a wholly owned Liberian subsidiary of TSL. While Aegean Fortuna Shipholding Ltd. is a co-defendant in this action, TSL exercises full operational and managerial control over the vessel and is the party with primary responsibility for the maintenance and seaworthiness obligations at issue in this case.
13. Acceptance and Countersignature
If the terms of this retention are acceptable to you, please indicate your acceptance by signing and returning a copy of this letter to C&H at the address above, or by signing and returning a scanned copy by email to Carlos Espinoza at cespinoza@calderwoodharkness.com. By signing below, you acknowledge and agree to the terms set forth herein, including, without limitation, the terms relating to compensation (Section 6), confidentiality (Section 7), independence and objectivity (Section 8), and conflict of interest (Section 9).
We ask that you return the signed copy of this letter at your earliest convenience, and in any event no later than February 15, 2024, so that we may finalize the retention and begin transmitting materials to you for review.
We look forward to working with you on this matter. Your expertise in maritime engineering and vessel maintenance will be an invaluable asset to the defense of this case, and we are confident that your analysis will make a significant contribution to our client's position. Please do not hesitate to contact Carlos Espinoza or me directly if you have any questions regarding the terms of this engagement or the scope of the work described herein.
Very truly yours,
CALDERWOOD & HARKNESS LLP
By: ________
Douglas Carmichael Partner
Telephone: (212) 455-7112
Email: dcarmichael@calderwoodharkness.com
cc:
Francesca Morano, Partner, Calderwood & Harkness LLP Carlos Espinoza, Associate, Calderwood & Harkness LLP Markos Theodorakis, General Counsel, Thalassa Shipping & Logistics SA
Enclosures:
1.  Factual Background Memorandum (to follow under separate cover, dated February 5, 2024)
2.  Complaint, Northwind Maritime Corporation v. Thalassa Shipping & Logistics SA et al., Index No. 655421/2023, filed October 2, 2023
3.  Verified Answer and Counterclaim, filed November 17, 2023
ACKNOWLEDGMENT AND ACCEPTANCE
I, Dr. Henrik Sørensen, Principal of Nordic Maritime Consulting Group ApS, hereby acknowledge receipt of the foregoing Expert Retention Letter dated February 1, 2024, from Calderwood & Harkness LLP. I have reviewed the terms and conditions set forth therein, including, without limitation, the provisions relating to the scope of the engagement (Sections 1 and 3), compensation (Section 6), confidentiality (Section 7), independence and objectivity (Section 8), conflict of interest and prior engagements (Section 9), and termination (Section 10).
By my signature below, I accept the terms of this retention and agree to be bound by the provisions of the Expert Retention Letter. I confirm that neither I nor Nordic Maritime Consulting Group ApS has any conflict of interest with respect to any party in this litigation, and I commit to providing independent, objective expert opinions based on my honest professional judgment and the factual record.
NORDIC MARITIME CONSULTING GROUP ApS
By: ________
Name: Dr. Henrik Sørensen
Title: Principal
Date: ________

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