5.	Transactions with Related Parties:

(a)

Central Mare– Executive Officers and Other Personnel Agreements:

September 1, 2010,

the Company entered into separate agreements with Central Mare, a related party affiliated with the family of Evangelos J. Pistiolis, pursuant to which Central Mare provides the Company with its executive officers and other administrative employees (Chief Executive Officer, Chief Financial Officer, Chief Technical Officer and Executive Vice President).

The fees charged by Central Mare for the

six

month periods ended

June 30, 2018

and

2019

are as follows:

	Six Month Period Ended June 30,
	2018			2019			Presented in:
Executive officers and other personnel expenses		1,200			180		General and administrative expenses - Statement of comprehensive loss
Amortization of awarded shares		(17	)		(17	)	Management fees - related parties - Statement of comprehensive loss
Total		1,183			163

January 2, 2018,

the Company’s board of directors granted to the Chief Executive Officer a bonus of

$2,250

respectively, to be distributed at his own discretion to other executives.

(b)

Central Shipping Monaco SAM (“CSM”) – Letter Agreement and Management Agreements:

March 10, 2014,

the Company entered into a letter agreement, with CSM, a related party affiliated with the family of Evangelos J. Pistiolis, which detailed the services and fees for the management of the Company’s fleet.

The fees charged by and expenses relating to CSM for the period ended

June 30, 2018

are as follows:

	Six Months Ended June 30, 2018		Presented in:
Management fees		-	Capitalized in Vessels, net / Advances for vessels acquisitions / under construction –Balance sheet
		1,159	Management fees - related parties -Statement of comprehensive loss
Supervision services fees		27	Capitalized in Vessels, net / Advances for vessels acquisitions / under construction –Balance sheet
Superintendent fees		43	Vessel operating expenses -Statement of comprehensive loss
		15	Capitalized in Vessels, net / Advances for vessels acquisitions / under construction –Balance sheet
Accounting and reporting cost		113	Management fees - related parties -Statement of comprehensive loss
Financing fees		24	Short-term debt – Balance sheet
Commission for sale and purchase of vessels		1,749	Management fees - related parties -Statement of comprehensive loss
Commission on charter hire agreements		245	Voyage expenses - Statement of comprehensive loss
Performance incentive fee		1,250	Management fees - related parties -Statement of comprehensive loss
Total		4,625

For the period ended

June 30, 2018,

CSM charged the Company newbuilding supervision related pass-through costs amounting to

$386,

that are

not

included in the table above and are presented in Vessels, net / Advances for vessels acquisitions / under construction in the Company’s accompanying condensed consolidated condensed balance sheet.

January 1, 2019,

the Company terminated the letter agreement with CSM without incurring any penalties.

(c)

Central Shipping Inc (“CSI”) – Letter Agreement and Management Agreements:

January 1, 2019,

the Company entered into a letter agreement with CSI, a related party affiliated with the family of Evangelos J. Pistiolis, which detailed the services and fees for the management of the Company’s fleet.

The fees charged by and expenses relating to CSI for the period ended

June 30, 2019

are as follows:

	Six Months Ended June 30, 2019		Presented in:
Management fees		108	Capitalized in Vessels, net / Advances for vessels acquisitions / under construction –Balance sheet
		1,013	Management fees - related parties -Statement of comprehensive loss
Supervision services fees		44	Capitalized in Vessels, net / Advances for vessels acquisitions / under construction –Balance sheet
Superintendent fees		97	Vessel operating expenses -Statement of comprehensive loss
		164	Capitalized in Vessels, net / Advances for vessels acquisitions / under construction –Balance sheet
Accounting and reporting cost		120	Management fees - related parties -Statement of comprehensive loss
Financing fees		-	Short-term debt – Balance sheet
Commission for sale and purchase of vessels		-	Management fees - related parties -Statement of comprehensive loss
Commission on charter hire agreements		370	Voyage expenses - Statement of comprehensive loss
Performance incentive fee		-	Management fees - related parties -Statement of comprehensive loss
Total		1,916

For the period ended

June 30, 2019,

CSI charged the Company newbuilding supervision related pass-through costs amounting to

$463,

that are

not

included in the table above and are presented in Vessels, net / Advances for vessels acquisitions / under construction in the Company’s accompanying condensed consolidated balance sheet. .

(d)

Contribution of Series E Shares to Family Trading Inc (“Family Trading”):

March 29, 2019

the Company entered into a stock purchase agreement with Family Trading pursuant to which the Company exchanged the outstanding principal, fees and interest of the Further Amended Family Trading Credit Facility with

27,129

Series E Shares (defined below, also see Note

and

(e) Charter Party with Central Tankers Chartering Inc (“Central Tankers Chartering”):

September 1, 2017

the Company entered into a time charter party with Central Tankers Chartering, a related party affiliated with the family of Evangelos J. Pistiolis, for the vessel M/T Eco Palm Desert delivered from Hyundai in

September 2018.

The time charter was for a firm period of

three

years at a daily rate of

$14,750

with

two

optional years at daily rates of

$15,250

and

$15,750

respectively, at Central Tankers Chartering’s option. The time charter carried a

1.25%

address commission payable to Central Tankers Chartering. In

April 2019

the Company terminated the a time charter party with Central Tankers Chartering without incurring any penalties and entered into a time charter agreement with Shell Tankers Singapore Private Limited (“Shell”) until

September 2020.

The time charter with Shell consists of a fixed amount per day plus a

50%

profit share for earned rates over the fixed amount.