Hi Gold Ocean No.2 Ship Investment Co., Ltd. (the Fund) is a a Korea-based paper company engaged in shipbuilding industry. The Fund aims to achieve capital growth and distribute earnings through investing in bulk carriers. The Company owns two bulk carries weighing 37,000 and 36,798 dead-weight tons (DWTs), respectively, which are built by Hyundai Mipo Dockyard. Co., Ltd. The ship operating company is Hanjin Shipping Co., Ltd. The investment manager of the Fund is Korea Ship Finance Co., Ltd. and the custodian company is Hana Bank. The Company acquired two bulk carriers on January 13, 2012 and April 10, 2012, respectively.