IN THE FEDERAL COURT OF AUSTRALIA)

                                  )

NEW SOUTH WALES DISTRICT REGISTRY)    No. G082 of 1991

                                  )

GENERAL DIVISION                  )

              BETWEEN:

                        THE SANKO STEAMSHIP CO. LIMITED

                        AND GRANDSLAM ENTERPRISE CORPORATION

                                                  Plaintiffs

              AND:

                        SUMITOMO AUSTRALIA LIMITED

                                                   Defendant

              AND:

                        SUMITOMO AUSTRALIA LIMITED

                                              Cross-claimant

              AND:

                        THE SANKO STEAMSHIP CO. LIMITED

                                       First cross-defendant

              AND:

                        GRANDSLAM ENTERPRISE CORPORATION

                                      Second cross-defendant

              AND:

                        KIM IN HYEON

                                       Third cross-defendant

CORAM:    SHEPPARD J.

             CORRIGENDUM TO REASONS FOR JUDGMENT

                DELIVERED ON 29 NOVEMBER 1995

On p.99 line 10 and line 23, p.100 lines 19-20, and p.211 line 17 replace the words "time charterer" with the words "bare boat charterer".

     I certify that this is a true copy of a corrigendum made to the reasons for judgment in this matter of the Hon. Justice Sheppard.

     Associate

     Dated