Time Charter Party August 28th , 2006
SHELLTIME
4
August 28th ,
2006
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IT
IS THIS DAY AGREED between
Shinyo ▇▇▇▇▇▇▇ Ltd.
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1
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2
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i
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good
motor
vessel
called M/T
Shinyo ▇▇▇▇▇▇▇
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3
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(hereinafter
referred to as “the vessel”) described as per Clause 1
hereof
and
Dalian Ocean Shipping Co. of
▇▇. ▇▇ ▇▇▇▇
▇▇▇▇▇▇, ▇▇▇▇▇▇▇▇▇ ▇▇▇▇., ▇▇▇▇▇▇, ▇▇▇▇▇ 116001
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4
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(hereinafter
referred to as “Charterers”):
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5
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Description
and
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1.
At the date of delivery of the vessel under this charter
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6
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Condition
of
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(a)
she shall be classed: ABS
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7
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Vessel
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(b)
she shall be in every way fit to carry crude petroleum
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8
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(c)
she shall be tight, staunch, strong, in good order and condition,
and in
every way fit for the
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9
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service,
with her machinery, boilers hull and other equipment (including but
not
limited to hull stress calculator
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10
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and
radar) in a good and efficient state:
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11
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(d)
her tanks, valves and pipelines shall be oil-tight;
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12
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(e)
she shall be in every way fitted for burning
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13
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at sea - fueloil with a maximum viscosity of
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14
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15
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for
auxiliaries
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16
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in
port - marine diesel oil/
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17
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(f)
she shall comply with the regulations in force so as to enable her
to pass
through the Suez and
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18
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19
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(g)
she shall have on board all certificates, documents and equipment
required
from time to time by
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20
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any
applicable law to enable her to perform the charter service without
delay;
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21
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(h)
she shall comply with the description in attached
Q88 and VPQ , which forms an integral part of this Charter and are
fully
incorporated herein, including technical details and guarantee
speed&consumption per date
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22
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is
any conflict between the provisions of such
attached Q88 and VPQ as referred above,
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23
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such
other provision shall govern. (See
Clause 24A)
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24
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Shipboard
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2.
(a) At the date of delivery of the vessel under this charter and
throughout the charter service
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25
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Personnel
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(i)
she shall have a full and efficient complement of master, officers
and
crew for a vessel of her
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26
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and
their Duties
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tonnage,
who shall in any event be not less than the number required by the
laws of
the flag state and who shall be
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27
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trained
to operate the vessel and her equipment competently and
safely;
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28
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(ii)
all shipboard personnel shall hold valid certificates of competence
in
accordance with the
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29
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requirements
of the law of the flag state;
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30
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(iii)
all shipboard personnel shall be trained in accordance with the relevant
provisions of the
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31
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International
Convention on Standards of Training, Certification and Watchkeeping
for
Seafarers, 1978;
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32
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(iv)
there shall be on board sufficient personnel with a good working
knowledge
of the English
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33
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language
to enable cargo operations at loading and discharging places to be
carried
out efficiently and safely and
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34
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to
enable communications between the vessel and those loading the vessel
or
accepting discharge therefrom to be
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35
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Carried
out quickly and efficiently.
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36
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(b)
Owners guarantee that throughout the charter service the master shall
with
the vessel’s officers
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37
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and
crew, unless otherwise ordered by Charterers,
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38
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(i)
prosecute all voyages with the utmost despatch;
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39
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(ii)
render all customary assistance; and
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40
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(iii)
load and discharge cargo as rapidly as possible when required by
Charterers or their agents
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41
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to
do so, by night or by day, but always in accordance with the laws
of the
place of loading or discharging (as the
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42
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case
may be) and in each case in accordance with any applicable laws of
the
flag state.
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43
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3.
(i) Throughout the charter service Owners shall, whenever the passage
of
time, wear and tear or any
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44
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event
(whether or not coming within Clause 27 hereof) required steps to
be taken
to maintain or restore the
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45
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conditions
stipulated in Clauses 1 and 2(a), exercise due diligence so to maintain
or
restore the vessel.
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46
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(ii)
If at any time whilst the vessel is on hire under this charter the
vessel
fails to comply with the
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47
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requirements
of Clauses 1,2(a) or 10 then hire shall be reduced to the extent
necessary
to indemnify Charterers
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48
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.
If and to the extent that such failure affects the time taken by
the
vessel to perform any services
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49
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under
this charter, hire shall be reduced by an amount equal to the value,
calculated at the rate of hire, of the time
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50
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so
lost.
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51
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Any
reduction of hire under this sub-Clause (ii) shall be without prejudice
to
any other remedy
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52
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available
to Charterers, but where such reduction of hire is in respect of
time
lost, such time shall be excluded
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53
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from
any calculation under Clause 24.
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54
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(iii)
If Owners are in breach of their obligation under Clause
3(i) Charterers may so notify Owners in
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55
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writing:
and if, after the expiry of 30 days following the receipt by Owners
of any
such notice, Owners have failed
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56
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to
demonstrate to Charterers’ reasonable satisfaction the exercise of due
diligence as required in Clause 3(i), the
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57
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vessel
shall be off-hire, and no further hire payments shall be due, until
Owners
have so demonstrated that they
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58
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are
exercising such due diligence.
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59
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Furthermore, excluding
periodical Drydocking at
any time after
the expiry of 45 days
while the vessel is off-hire under this Clause 3 Charterers have
the
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60
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option
to terminate this charter by giving notice in writing with effect
from the
date on which such notice of
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61
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termination
is received by Owners or from any later date stated in such notice.
This
sub-Clause (iii) is without
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62
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prejudice
to any rights of Charterers or obligations of Owners under this charter
or
otherwise (including without
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63
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limitation
Charterers rights under Clause 21 hereof).
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64
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Period
Trading
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4.
Owners agree to let and Charterers agree to hire the vessel for a
period
of firm
10 years +/- 60 days in Charterers’ option.
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65
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Limits
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commencing
from the time and date of delivery of the vessel, for the purpose
of
carrying all lawful merchandise
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66
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(subject
always to Clause 28) including in particular
crude oil or its condensates, No Heat Crude and Fuel oil, orimulsion.
Maximum 3 grades within vessel's natural segregation. Charterers have
the option of loading more than 3 grds subject to master's approval
and with line and pump contamination where necessary as provided
within
the provisions of the Texaco Compatibility clause (insert wording as
Rider Clause 86). Last three cargoes to be advised. Cargoes not to
be
injurious to vessel’s tanks, pumps, pipes lines and valves or to vessels
crew.
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67
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in
any part of the world, as Charterers shall direct, subject to the
limits
of the current IWL
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68
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any
subsequent amendments thereof
worldwide excluding Albania, Israel, North Korea, Alaska, Lebanon
Cambodia, Namibia, Haiti, and Cuba, also excluding any country, which
may
from time to time be prohibited by the vessel’s flag or the United
Nations.
Notwithstanding the foregoing, but subject to Clause 35. Charterers
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69
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may
order the vessel to ice-bound waters,
vessel not to trade in ice nor follow ice-breakers unless subject
to
Master’s consent or
to any part of the world outside such limits provided that
Owners
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70
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consent
thereto (such consent not to be unreasonably withheld) and that Charterers
pay for any insurance
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71
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premium
required by the vessel’s underwriters as a consequence of such
order.
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72
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Charterers
shall use due diligence to ensure that the vessel is only employed
between
and at safe places
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73
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(which
expression when used in this charter shall include ports, berths,
wharves,
docks, anchorages, submarine
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74
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lines,
alongside vessels or lighters, and other locations including locations
at
sea) where she can safely lie always
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75
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afloat.
Notwithstanding anything contained in this or any other clause of
this
charter
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76
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the
safety of any place to which they order the vessel and shall be under
no
liability in respect thereof except for
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77
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loss
or damage caused by their failure to exercise due diligence as aforesaid.
Subject as above, the vessel shall be
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78
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loaded
and discharged at any places as Charterers may direct, provided that
Charterers shall exercise due
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79
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diligence
to ensure that any ship-to-ship transfer operations shall conform
to
standards not less than those set out
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80
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in
the latest published edition of the ICS/OCIMF Ship-to Ship Transfer
Guide
and/or ISGOTT requirements.
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81
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The
vessel shall be delivered by Owners at a safe port one safe berth
World
Wide, Although the TI
Pool agreement allows USWC for redelivery, owners will exert
their best
efforts to persuade them not to redeliver
there.
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82
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at
Owners’ option and redelivered to Owners at one safe port one safe berth
World Wide.
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83
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at
Charterers’ option. Charterers
to give Owners an estimated 60/45/30/20
day and definite15/10/5/4/3/2/1 day redelivery
notice
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84
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Laydays/
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5.
The vessel shall
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Cancelling
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have
the option of cancelling this charter if the vessel is not ready
and at
their disposal on or before( Mar,
31, 2007 )
or Charterers option to declare that the vsl is deemed deliveried
at the
last discharge port before the end of March 2007 as if the Charterer
will
be TI member instead of the owner
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86
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Owners
to
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6.
Owners undertake to provide and to pay for all provisions, wages,
and
shipping and discharging fees
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87
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Provide
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and
all other expenses of the master, officers and crew; also, except
as
provided in Clauses 4 and 34 hereof, for all
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88
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insurance
on the vessel, for all deck, cabin and engine-room stores, and for
water,
except
used for tank cleaning
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89
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for
all drydocking, overhaul,
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89
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maintenance
and repairs to the vessel; and for all fumigation expenses and de-rat
certificates. Owners’
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90
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obligations
under this Clause 6 extend to all liabilities for customs or import
duties
arising at any time during the
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91
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performance
of this charter in relation to the personal effects of the master,
officers and crew, and in relation to
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92
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the
stores, provisions and other matters aforesaid which Owners are to
provide
and pay for and Owners shall
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93
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refund
to Charterers any sums Charterers or their agents may have paid or
been
compelled to pay in respect of
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94
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any
such liability. Any amounts allowable in general average for wages
and
provisions and stores shall be credited
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95
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to
Charterers insofar as such amounts are in respect of a period when
the
vessel is on-hire.
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96
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Charterers
to
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7.
Charterers shall provide and pay for all fuel
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97
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Provide
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Pilotage
and shall pay agency fees,
compulsory port
charges, commissions, expenses of loading and unloading cargoes,
canal
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98
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dues and
all charges other than those payable by Owners in accordance with
Clause 6
hereof, provided that all
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99
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charges which
are part of port tariff for
the said items shall be for Owners’ account when such items are consumed,
employed or incurred for
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100
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Owners’
purposes or while the vessel is off-hire (unless such items reasonably
relate to any service given or
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101
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distance
made good and taken into account under Clause 21 or 22); and provided
further that any fuel used in
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102
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connection
with a general average sacrifice or expenditure shall be paid for
by
Owners.
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103
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Rate
of
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8.
Subject as herein provided, Charterers shall pay for the use and
hire of
the vessel at the rate of
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104
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Hire
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Base
hire rate: usd 39,000 pdpr plus profit share above usd 44,000 less
1.25
pct add comm. and 1.25 pct brokerage to Seagos as per Clause
95, from
the time and date of her delivery (GMT
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105
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106
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Payment
of
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9.
Subject to Clause 3(iii), payment of hire shall be made in immediately
available funds to /
or Owners’ nominated account:
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107
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Hire
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Account
HSBC
Bank USA, New York (SWIFT: ▇▇▇▇▇▇▇▇)
For
credit to: DVB Group Merchant Bank (Asia) Ltd
(SWIFT:DVKGSGSG)
Account
No: 000.305.189
In
favour of: Shinyo ▇▇▇▇▇▇▇ Limited
Earnings
Account No. 190.000.5719
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108
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In
30 days per calendar month in advance less:
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109
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(i)
any hire paid which Charters reasonably estimate to relate to off-hire
periods, and
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110
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(ii) with
documentary support / evidence,
any
amounts disbursed on Owners’ behalf, any advances and commission thereon,
and
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111
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charges
which are for Owners’ account pursuant to any provision hereof, and
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112
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(iii) with
documentary support support / evidence,
any amounts due or reasonably estimated to become due to Charterers
under
Clause 3(ii) or
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113
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24
hereof,
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114
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any
such adjustments to be made at the due date for the next monthly
payment
after the facts have been
|
115
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ascertained.
Charterers shall not be responsible for any delay or error by Owners’ bank
in crediting Owner’
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116
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account
provided that Charterers have made proper and timely
payment.
|
117
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In
default of such proper and timely payment,
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118
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(a)
Owners shall notify Charterers of such default and Charterers shall
within
seven days of receipt of
|
119
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such
notice pay to Owners the amount due including interest, failing which
Owners may withdraw the vessel from
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120
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the
service of Charterers without prejudice to any other rights Owners
may
have under this charter or otherwise;
|
121
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and
|
122
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(b)
Interest on any amount due but not paid on the due date shall accrue
from
the day after that date
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123
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up
to and including the day when payment is made, at a rate per annum
which
shall be 1% above the U.S. Prime
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124
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Interest
Rate as published by The
Hongkong and Shanghai Banking Corporation Limited New York at
12:00
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125
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or,
if no such interest rate is published on that day, the interest rate
published on the next preceding day on which
|
126
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such
a rate was so published, computed on the basis of a 360 day year
of twelve
30-day months, compounded
|
127
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semi-annually.
|
128
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Space
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10.
The whole reach, burthen and decks of the vessel and any passenger
accommodation (including
|
129
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Available
to
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Owners’
suite) shall be at Charterers’ disposal, reserving only proper and
sufficient space for the vessel’s master,
|
130
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Charterers
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officers,
crew, tackle, apparel, furniture, provisions and stores, provided
that the
weight of stores on board shall
|
131
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not,
unless specially agreed, exceed 1000
metric tonnes at
any time during the charter period.
|
132
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Overtime
|
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133
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|
134
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|
135
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Instructions
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12.
Charterers shall from time to time give the master all requisite
instructions and sailing directions, and
|
136
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and
Logs
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he
shall keep a full and correct log of the voyage or voyages, which
Charterers or their agents may inspect as
|
137
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required,
The master shall when
requested
furnish Charterers or their agents with a true copy of such log and
with
|
138
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properly
completed loading and discharging port sheets and voyage reports
for each
voyage and other returns as
|
139
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Charterers
may require. Charterers shall be entitled to take copies at Owners’
expense of any such documents
|
140
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which
are not provided by the master.
|
141
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▇▇▇▇
of
|
13.
(a) The
master (although appointed by Owners) shall be under the orders and
direction of
|
142
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Lading
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Charterers
as regards employment of the vessel, agency and other arrangements,
and
shall sign bills of lading as
|
143
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Charterers
or their agents may direct (subject always to Clauses 35(a) and 40)
without prejudice to this charter.
|
144
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||
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Charterers
hereby indemnify Owners against all consequences or liabilities that
may
arise
|
145
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||
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(i)
from signing bills of lading in accordance with the directions of
Charteers, or their agents, to
|
146
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the
extent that the terms of such bills of lading fail to conform to
the
requirements of this charter, or (except as
|
147
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provided
in Clause 13(b)) from the master otherwise complying with Charterers
or
their agents orders:
|
148
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||
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(ii)
from any irregularities in papers supplied by Charterers or their
agents.
|
149
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(b)
Notwithstanding the foregoing, Owners shall not be obliged to comply
with
any orders from
|
150
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||
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Charterers
to discharge all or part of the cargo
|
151
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||
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(i)
at any place other than that shown on the ▇▇▇▇ of lading
and/or
|
152
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||
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(ii)
without presentation of an original ▇▇▇▇ of lading
|
153
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||
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unless
they have received from Charterers both written confirmation of such
orders and an
|
154
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indemnity
in a form acceptable to Owners.
|
155
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Conduct
of
|
14.
If Charterers complain of the conduct of the master or any of the
officers
or crew, Owners shall
|
156
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Vessel’s
|
immediately
investigate the complaint, If the complaint proves to be well founded,
Owners shall, without delay.
|
157
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|
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Personnel
|
make
a change in the appointments and Owners shall in any event communicate
the
result of their investigations
|
158
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to
Charterers as soon as possible.
|
159
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Bunkers
at
|
|
160
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Delivery
and
|
|
161
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Redelivery
|
|
162
|
|
|
|
163
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||
|
|
164
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||
|
|
165
|
||
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|
166
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||
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|
167
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||
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Stevedores,
|
16.
Stevedores when required shall be employed and paid by Charterers,
but
this shall not relieve Owners
|
168
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Pilots,
Tugs
|
from
responsibility at all times for proper stowage, which must be controlled
by the master who shall keep a strict
|
169
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account
of all cargo loaded and discharged. Owners hereby indemnify Charterers,
their servants and agents
|
170
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against
all losses, claims, responsibilities and liabilities arising in any
way
whatsoever from the employment of
|
171
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|
pilots,
tugboats or stevedores, who although employed by Charterers shall
be
deemed to be the servants of and in
|
172
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|
the
service of Owners and under their instructions (even if such pilots,
tugboat personnel or stevedores are in fact
|
173
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|
the
servants of Charterers their agents or any affiliated company); provided,
however, that
|
174
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||
|
(i)
the foregoing indemnity shall not exceed the amount to which Owners
would
have been
|
175
|
||
|
entitled
to limit their liability if they had themselves employed such pilots,
tugboats or stevedores, and
|
176
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||
|
(ii)
Charterers shall be liable for any damage to the vessel caused by
or
arising out of the use of
|
177
|
||
|
stevedores,
fair wear and tear excepted, to the extent that Owner are unable
by the
exercise of due diligence to
|
178
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||
|
obtain
redress therefore from stevedores.
|
179
|
||
|
Supernumeraries
|
17.
Charterers may send
up to two representatives
in the vessel’s available accommodation upon any voyage made
|
180
|
|
|
under
this charter, Owners finding provisions and all requisites as supplied
to
officers, except liquors. Charterers
|
181
|
||
|
paying
at
|
182
|
||
|
Sub-letting
|
18.
Charterers may sub-let the vessel, but shall always remain responsible
to
Owners for due fulfillment of
|
183
|
|
|
this
charter.
|
184
|
||
|
Final
Voyage
|
19.
If when a payment of hire is due hereunder Charterers reasonably
expect to
redeliver the vessel before
|
185
|
|
|
the
next payment of hire would fall due, the hire to be paid shall be
assessed
on Charterers’ reasonable estimate of
|
186
|
||
|
the
time necessary to complete Charterers’ programme up to redelivery, and
from which estimate Charterers
|
187
|
||
|
May
deduct amounts due or reasonably expected to become due for
|
188
|
||
|
(i) Subject
to documentary evidence,
disbursements
on Owners’ behalf or charges for Owners’ account pursuant to any
provision
|
189
|
||
|
hereof,
and
|
190
|
||
|
(ii)
bunkers on board at redelivery pursuant to Clause 15.
|
191
|
||
|
Promptly
after redelivery any overpayment shall be refunded by Owners or any
underpayment made
|
192
|
||
|
good
by Charterers.
and any amount Charterers may deduct pursuant to Clause 9
Charterers
shall give Owners prior notice with breakdown for the above (I) (II)
decutions together with supporting documentary /
evidence.
|
193
|
||
|
If
at the time this charter would otherwise terminate in accordance
with
Clause 4 the vessel is on a
|
194
|
||
|
ballast
voyage to a port of redelivery or is upon a laden voyage, Charterers
shall
continue to have the use of the
|
195
|
||
|
vessel
at the same rate and conditions as stand herein for as long as necessary
to complete such ballast voyage, or
|
196
|
||
|
to
complete such laden voyage and return to a port of redelivery as
provided
by this charter, as the case may be.
|
197
|
||
|
Loss
of
|
20.
Should the vessel be lost, this charter shall terminate and hire
shall
cease at noon on the day of her loss;
|
198
|
|
|
Vessel
|
shoud
the vessel be a constructive total loss, this charter shall terminate
and
hire shall cease at noon on the day on
|
199
|
|
|
which
the vessel’s underwriters agree that the vessel is a constructive total
loss; should the vessel be missing, this
|
200
|
||
|
charter
shall terminate and hire shall cease at noon on the day on which
she was
last heard of. Any hire paid in
|
201
|
||
|
advance
and not earned shall be returned to Charterers and Owners shall reimburse
Charterers for the value of
|
202
|
||
|
the
estimated quantity of bunkers on board at the time of termination,
at the
price paid by Charterers at the last
|
203
|
||
|
bunkering
port.
|
204
|
||
|
Off-hire
|
21.
(a) On each and every occasion that there is loss of time (whether
by way
of interruption in the
|
205
|
|
|
vessel’s
service or, from reduction in the vessel’s performance, or in any other
manner)
|
206
|
||
|
(i)
due to deficiency of personnel or stores; repairs; gas-freeing for
repairs; time in and waiting
|
207
|
||
|
to
enter dry dock for repairs; breakdown (whether partial or total)
of
machinery, boilers or other parts of the
|
208
|
||
|
vessel
or her equipment (including without limitation tank coatings); overhaul,
maintenance or survey; collision,
|
209
|
||
|
standing,
accident or damage to the vessel; or any other similar cause preventing
the efficient working of the
|
210
|
||
|
vessel;
and such loss continues for more than three consecutive hours (if
resulting from interruption in the vessel’s
|
211
|
||
|
service),
or cumulates to more than three hours (if resulting from partial
loss of
service); or
|
212
|
||
|
(ii)
due to onboard industrial
action, refusal to sail, breach of orders or neglect of duty on the
part
of the
|
213
|
||
|
master,
officers or crew; or
|
214
|
||
|
(iii)
for the purpose of obtaining medical advice or treatment for or landing
any sick or injured
|
215
|
||
|
person
(other than a Charterers’ representative carried under Clause 17 hereof)
or for the purpose of landing the
|
216
|
||
|
body
of any person (other than a Charterers’ representative), and such loss
continues for more than three
|
217
|
||
|
consecutive
hours: or
|
218
|
||
|
(iv)
due to any delay in quarantine arising from the master, officers
or crew
having had
|
219
|
||
|
communication
with the shore at any infected area without the written consent or
instruction of Charterers or
|
220
|
||
|
their
agents, or to any detention by customs or other authorities caused
by
smuggling or other infraction of local
|
221
|
||
|
law
on the part of the master, officers, or crew; or
|
222
|
|
(v)
due to detention of the vessel by authorities at home or abroad
attributable to legal action
|
223
|
||
|
against
or breach of regulations by the vessel, the vessel’s owners, or Owners
(unless brought about by the act or
|
224
|
||
|
neglect
of Charterers); then
|
225
|
||
|
without
prejudice to Charterers’ rights under Clause 3 or to any other rights of
Charterers
|
226
|
||
|
hereunder
or otherwise the vessel shall be off-hire from the commencement of
such
loss of time until she is again
|
227
|
||
|
ready
and in an efficient state to resume her service from a position not
less
favourable to Charterers than that at
|
228
|
||
|
which
such loss of time commenced; provided, however, that any service
given or
distance made good by the
|
229
|
||
|
vessel
whilst off-hire shall be taken into account in assessing the amount
to be
deducted from hire.
|
230
|
||
|
(b)
If the vessel fails to proceed at any guaranteed speed pursuant to
Clause
24, and such failure
|
231
|
||
|
arises
wholly or partly from any of the causes set out in Clause 21(a) above,
then the period for which the vessel
|
232
|
||
|
shall
be deemed
to have lost of time under
this Clause 21 shall be the difference between
|
233
|
||
|
(i)
the time the vessel would have required to perform the relevant service
at
such guaranteed
|
234
|
||
|
speed,
and
|
235
|
||
|
(ii)
the time actually taken to perform such service (including any loss
of
time arising from
|
236
|
||
|
interruption
in the performance of such service).
|
237
|
||
|
For
the avoidance of doubt, all time included under (ii) above shall
be
excluded from any
|
238
|
||
|
computation
under Clause 24.
|
239
|
||
|
(c)
Further and without prejudice to the foregoing, in the event of the
vessel
deviating (which
|
240
|
||
|
expression
includes without limitation putting back, or putting into any port
other
than that to which she is bound
|
241
|
||
|
under
the instructions of Charterers) for any cause or purpose mentioned
in
Clause 21(a), the vessel shall be
|
242
|
||
|
off-hire
from the commencement of such deviation until the time when she is
again
ready and in an efficient state
|
243
|
||
|
to
resume her service from a position not less favourable to Charterers
than
that at which the deviation
|
244
|
||
|
commenced,
provided, however, that any service given or distance made good by
the
vessel
|
245
|
||
|
shall
be taken into account in assessing the
Charterer’s rights against the Owner.
If
the vessel, for any cause or
|
246
|
||
|
purpose
mentioned in Clause 21(a),
puts into any port other than the port to which she is bound on
the
|
247
|
||
|
instructions
of Charterers, the port charges, pilotage and other expenses at such
port
shall be borne by Owners.
|
248
|
||
|
Should
the vessel be driven into any port or anchorage by stress of weather
hire
shall continue to be due and
|
249
|
||
|
payable
during any time lost thereby.
|
250
|
||
|
(d)
If the vessel’s flag state becomes engaged in hostilities, and Charterers
in consequence of such
|
251
|
||
|
hostilities
find it commercially impracticable to employ the vessel and have
given
Owners written notice thereof
|
252
|
||
|
then
from the date of receipt by Owners of such notice until the termination
of
such commercial impracticability
|
253
|
||
|
the
vessel shall be off-hire and Owners shall have the right to employ
the
vessel on their own account.
|
254
|
||
|
|
255
|
||
|
|
256
|
||
|
Periodical
|
22.
(a) Owners have the right and obligation to drydock the vessel
( Pls
advise the following 1st
and 2nd
d/d schedules )
at
regular intervals of (as
per class requirement ) if under emergency situation, Owners have
the
right and obligation to drydock the vessel
|
▇▇▇
|
|
|
▇▇▇▇▇▇▇▇▇▇
|
▇▇
each occasion Owners shall propose to Charterers a date and
port on
which they wish to
|
258
|
|
|
drydock
the vessel, not less than 60
days
before such date, and Charterers shall
|
259
|
||
|
take
all reasonable steps to make the vessel available as near to such
date
as
|
260
|
||
|
practicable.
|
261
|
||
|
Owners
shall put the vessel in drydock at their expense as soon as practicable
after Charterers
|
262
|
||
|
place
the vessel at Owners’ disposal clear of cargo other than tank washings and
residues. Owners shall be
|
263
|
||
|
responsible
for and pay for the disposal into reception facilities of such tank
washings and residues and shall have
|
264
|
||
|
the
right to retain any monies received therefor,
without
prejudice to any claim for loss of cargo under any ▇▇▇▇ of
|
265
|
||
|
lading
or this charter.
|
266
|
||
|
(b)
If a periodical drydocking is carried out in the port offered by
Charterers (which must have
|
267
|
||
|
suitable
accommodation for the purpose and reception facilities for tank washings
and residues), the vessel shall
|
268
|
|
be
off-hire from the time she arrives at such port until drydocking
is
completed and she is in every way ready to
|
269
|
||
|
resume
Charterers’ service and is at the position at which she went off-hire or a
position no less favourable to
|
270
|
||
|
Charterers,
whichever she first attains. However,
|
271
|
||
|
(i)
provided that Owners exercise due diligence in gas-freeing, any time
lost
in gas-freeing to
|
272
|
||
|
the
standard required for entry into drydock for cleaning and painting
the
hull shall not count as off-hire, whether
|
273
|
||
|
lost
on passage to the drydocking port or after arrival there (notwithstanding
Clause 21), and
|
274
|
||
|
(ii)
any additional time lost in further gas-freeing to meet the standard
required for hot work or
|
275
|
||
|
entry
to cargo tanks shall count as off-hire, whether lost on passage to
the
drydocking port or after arrival there.
|
276
|
||
|
Any
time which, but for sub-Clause (i) above, would be off-hire, shall
not be
included in any
|
277
|
||
|
calculation
under Clause24.
|
278
|
||
|
The
expenses of gas-freeing, including without limitation the cost of
bunkers,
shall be for
|
279
|
||
|
Owners
account.
|
280
|
||
|
(c)
If Owners require the vessel, instead of proceeding to the offered
port,
to carry out periodical or
emergency
|
281
|
||
|
drydocking
at a special port selected by them, the vessel shall be off-hire
from the
time when she is released to
|
282
|
||
|
proceed
to the special port until she next presents for loading in accordance
with Charterer’s
instructions,
|
283
|
||
|
provided,
however, that Charterers shall credit Owners with the time which
would
have been taken on passage at
|
284
|
||
|
the
service speed had the vessel not proceeded to drydock. All fuel consumed
shall be paid for by Owners but
|
285
|
||
|
Charterers
shall credit Owners with the value of the fuel which would have been
used
on such notional passage
|
286
|
||
|
calculated
at the guaranteed daily consumption for the service speed, and shall
further credit Owners with any
|
287
|
||
|
benefit
they may gain in purchasing bunkers at the special port.
|
288
|
||
|
(d)
Charterers shall, insofar as cleaning for periodical drydocking may
have
reduced the amount of
|
289
|
||
|
tank-cleaning
necessary to meet Charterers’ requirements, credit Owners with the value
of any bunkers which
|
290
|
||
|
Charterers
calculate to have been saved thereby, whether the vessel drydocks
at an
offered or a special port.
|
291
|
||
|
Ship
Inspection
|
23.
Charterers shall have the right at any time during the charter period
to
make such inspection of the
|
292
|
|
|
vessel
as they may consider necessary. This right may be exercised as often
and
at such intervals as Charterers in
|
293
|
||
|
their
absolute discretion may determine and whether the vessel is in port
or on
passage. Owners affording all
|
294
|
||
|
necessary
co-operation and accommodation on board provided, however,
|
295
|
||
|
(i)
that neither
the exercise nor the non-exercise, nor anything done or not done
in the
exercise
|
296
|
||
|
or
non-exercise, by Charterers of such right shall in any way reduce
the
master’s or Owners’ authority over, or
|
297
|
||
|
responsibility
to Charterers or third parties for, the vessel and every aspect of
her
operation, nor increase
|
298
|
||
|
Charterers’
responsibilities to Owners or third parties for the same;
and
|
299
|
||
|
(ii)
that Charterers shall not be liable for any act, neglect or default
by
themselves, their
|
300
|
||
|
servant
or agents in the exercise or non-exercise of the aforesaid
right.
|
301
|
||
|
Detailed
|
24
(a) Owners guarantee that the speed and consumption of the vessel
shall be
as follows:
|
302
|
|
|
Description
|
|
303
|
|
|
and
Performance
|
|
304
|
|
|
|
305
|
||
|
|
306
|
||
|
For
Main Engine:
abt
15.5 knots on ballast 75 MT/day
abt
14.5 knots on laden 77 MT/day
For
Auxiliary Engine - Marine:
Diesel
Oil 0.1
MT/day
Fuel
Oil (IFO-380) 4.0 MT/day
|
307
|
||
|
The
foregoing bunker consumptions are for all purposes except
|
308
|
||
|
and
shall be pro-rated between the speeds shown.
|
309
|
||
|
The
service speed of the vessel is about
14.5
knots laden and about
15.5
knots in ballast,
all on BF5
and in the absence
|
310
|
||
|
of
Charterers’ orders to the contrary the vessel shall proceed at the service
speed. However if more than one
|
311
|
||
|
laden
and one ballast speed are shown in the table above Charterer shall
have
the right to order the vessel to
|
312
|
||
|
steam
at any speed within the range set out in the table
|
313
|
||
|
|
314
|
|
|
315
|
||
|
|
316
|
||
|
|
317
|
||
|
|
318
|
||
|
|
319
|
||
|
however,
the Charterers have the right to order/instruct the Vsl to speed
up and
slow down in excess of or respectively below the description shown
on the
Table subject
to the safety steaming,
Owners
warrant that the vessel Is and shall remain capable of maintaining
the
speeds and bunker consumptions guaranteed, throughout the Charter
period,,
Charterers shall have the right to make deductions from payment of
hire in
respect of any time lost and any additional bunkers consumed by reason
of
the Vessel’s proven failure to maintain the warranted capability
|
320
|
||
|
|
321
|
||
|
|
322
|
||
|
|
323
|
||
|
would
be) off-hire and also excluding “Adverse Weather Periods”, being (i) any
periods during which reduction
|
324
|
||
|
of
speed is necessary for safety in congested waters or in poor visibility
(ii) any days, noon, when winds
|
325
|
||
|
exceed
force
(a)
in congested waters or in poor visibility
(b)
in narrow, shallow waters
(c)
in and out of ports
(d)
under national and international
rules/regulations
(e)
Short voyage of less than 12 hours
|
326
|
||
|
(b)
in this clause, Beaufort 5 is to apply to calculation of
underperformance
|
327
|
||
|
|
328
|
||
|
|
329
|
||
|
|
330
|
||
|
|
331
|
||
|
|
332
|
||
|
|
333
|
||
|
|
334
|
||
|
|
335
|
||
|
|
336
|
||
|
|
337
|
||
|
|
338
|
||
|
|
339
|
||
|
|
340
|
||
|
|
341
|
||
|
|
342
|
||
|
|
343
|
||
|
|
344
|
||
|
|
345
|
||
|
|
346
|
||
|
|
347
|
||
|
|
348
|
||
|
|
349
|
||
|
|
350
|
||
|
|
351
|
||
|
|
352
|
||
|
Salvage
|
25.
subject to the provisions of Clause 21 hereof, all loss of time and
all
expenses (excluding any damage to
|
353
|
|
|
or
loss of the vessel or
tortious
liabilities to third parties) incurred in, saving
or attempting to save life including
time required for disembarkation of such person or
in
|
354
|
|
successful
or unsuccessful attempts at salvage shall be borne equally by Owners
and
Charterers provided that
|
355
|
||
|
Charterers
shall not be liable to contribute towards any salvage payable by
Owners
arising in any way out of
|
356
|
||
|
services
rendered under this Clause 25.
|
357
|
||
|
all
salvage and all proceeds from derelicts shall be divided equally
between
Owners and Charterers
|
358
|
||
|
after
deducting the master’s, officers’ and crew’s share.
|
359
|
||
|
Lien
|
26.
Owners shall have a lien upon all cargoes and all freight, sub-freight
and
demurrage for any amounts
|
360
|
|
|
due
under this charter; and Charterers shall have a lien on the vessel
for all
monies paid in advance and not
|
361
|
||
|
earned,
and for all claims for damages arising from any breach by Owners
of this
charter.
|
362
|
||
|
Exceptions
|
27.
(a) The vessel, her master and Owners shall not, unless otherwise
in this
charter expressly provided,
|
363
|
|
|
be
liable for any loss or damage or delay or failure arising or resulting
from any act, neglect or default of the
|
364
|
||
|
master,
pilots, mariners or other servants of Owners in the navigation or
management of the vessel; fire, unless
|
365
|
||
|
caused
by the actual fault or privity of Owners; collision or stranding;
dangers
and accidents of the sea; explosion,
|
366
|
||
|
bursting
of boilers, breakage of shafts or any latent defect in hull, equipment
or
machinery; provided, however,
|
367
|
||
|
that
Clause 1,2,3 and 24 hereof shall be unaffected by the foregoing.
Further,
neither the vessel, her master or
|
368
|
||
|
Owners,
nor Charterers shall, unless otherwise in this charter expressly
provided,
be liable for any loss or damage
|
369
|
||
|
or
delay or failure in performance hereunder arising or resulting from
act of
God, act of war, seizure under legal
|
370
|
||
|
process,
quarantine restrictions, strikes, lock-outs, riots, restrains of
labour,
civil commotions or arrest or
|
371
|
||
|
restraint
of princes, rulers or people.
|
372
|
||
|
(b)
The vessel shall have liberty to sail with or without pilots, to
tow or go
to the assistance of vessels
|
373
|
||
|
in
distress and to deviate for the purpose of saving life or
property.
|
374
|
||
|
(c)
Clause 27(a) shall not apply to or affect any liability of Owners
or the
vessel or any other relevant
|
375
|
||
|
person
in respect of
|
376
|
||
|
(i)
loss or damage caused to any berth, jetty, dock, dolphin, buoy, mooring
line, pipe or crane
|
377
|
||
|
or
other works or equipment whatsoever at or near any place to which
the
vessel may proceed under this charter,
|
378
|
||
|
whether
or not such works or equipment belong to Charterers, or
|
379
|
||
|
(ii)
any claim (whether brought by Charterers or any other person) arising
out
of any loss of or
|
380
|
||
|
damage
to or in connection with cargo. All such claims shall be subject
to the
Hague-Visby Rules or the Hague
|
381
|
||
|
Rules,
as the case may be, which ought pursuant to Clause 38 hereof to have
been
incorporated in the relevant ▇▇▇▇
|
382
|
||
|
of
lading (whether or not such Rules were so incorporated) or, if no
such
▇▇▇▇ of lading is issued, to the
|
383
|
||
|
Hague-Visby
Rules,
|
384
|
||
|
(d)
In particular and without limitation, the foregoing subsections (a)
and
(b) of this Clause shall not
|
385
|
||
|
apply
to or in any way affect any provision in this charter relating to
off-hire
or to reduction of hire.
|
386
|
||
|
Injurious
|
28.
No acids, explosives or cargoes injurious to the vessel shall be
shipped
and without prejudice to the
|
387
|
|
|
Cargoes
|
foregoing any
damage to the vessel caused by the shipment of any such cargo, and
the
time taken to repair such
|
388
|
|
|
damage,
shall be for Charterers’ account. No voyage shall be undertaken, nor any
goods or cargoes loaded, that
|
389
|
||
|
would
expose the vessel to capture or seizure by rules or
governments.
|
390
|
||
|
Grade
of
|
29.
Charterers shall supply marine diesel oil/fuel oil with a maximum
viscosity of 380
Centistokes at 50
|
391
|
|
|
Bunkers
|
degrees
Centigrade in
line with ISO 8217:2005 RMG 380 /
|
392
|
|
|
the
vessel to be supplied with more expensive bunkers they shall be liable
for
the extra cost thereof.
|
393
|
||
|
Charterers
warrant that all bunkers provided by them in accordance herewith
shall be
of a quality
|
394
|
||
|
complying
with the International Marine Bunker Supply Terms. (
owners advise )
|
395
|
||
|
|
396
|
||
|
Disbursements
|
30.
Should the master require advances for ordinary disbursements at
any port,
Charterers or their agents
|
397
|
|
|
shall
make such advances to him, in consideration of which Owners shall
pay a
commission of two and a half per
|
398
|
||
|
cent,
and all such advances and commission shall be deducted from hire.
|
399
|
||
|
Laying-up
|
31.
Charterers shall have the option, after consultation with Owners, of
requiring Owners to lay up the
|
400
|
|
|
vessel
at a safe place
nominated by Charterers , in which case the hire provided for under
this
charter shall be
|
401
|
||
|
adjusted
to reflect any net increases in expenditure reasonably incurred or
any net
saving which should
|
402
|
||
|
reasonably
be made by Owners as a result of such lay-up, Charterers may exercise
the
said option any number of
|
403
|
||
|
times
during the charter period. All
time and cost for preparing the Vessel , including cleaning of underwater
part for normal voyage is for Charterers’
account.
|
404
|
||
|
Requisition
|
32.
Should the vessel be requisitioned by any government, de facto or
de jure,
during the period of this
|
405
|
|
|
charter,
the vessel shall be off-hire during the period of such requisition,
and
any hire paid by such government in
|
406
|
|
respect
of such requisition period shall be for Owners’ account. Any such
requisition period shall count as part of
|
407
|
||
|
the
charter period.
|
408
|
||
|
Outbreak
of War
|
33.
If war or hostilities
directly affecting this Charterparty break
out between any two or more of the following countries:U.S.A.,
FSU,
and vessels flagstate
|
409
|
|
|
P.R.C.,
U.K., Iran-both
Owners and Charterers shall have the right to cancel this
charter.
|
410
|
||
|
Additional
War
|
34.
If the vessel is ordered to trade in areas where there is war (de
facto or
de jure) or threat of war,
|
411
|
|
|
Expenses
|
Charterers
shall reimburse Owners for any additional insurance premia, crew
bonuses
and other expenses which
|
412
|
|
|
are
reasonably incurred by Owners as a consequence of such orders, provided
that Charterers are given notice of
|
413
|
||
|
such
expenses as soon as practicable, and provided further
|
414
|
||
|
that
Owners obtain from their insurers a waiver of any subrogated rights
against Charterers in respect of any
|
415
|
||
|
claims
by Owners under their war risk insurance arising out of compliance
with
such orders.
|
416
|
||
|
War
Risks
|
|
417
|
|
|
|
418
|
||
|
|
419
|
||
|
|
420
|
||
|
|
421
|
||
|
|
422
|
||
|
|
423
|
||
|
|
424
|
||
|
|
425
|
||
|
|
426
|
||
|
|
427
|
||
|
|
428
|
||
|
|
429
|
||
|
|
430
|
||
|
|
431
|
||
|
|
432
|
||
|
|
433
|
||
|
|
434
|
||
|
|
435
|
||
|
|
436
|
||
|
|
437
|
||
|
|
438
|
||
|
|
439
|
||
|
|
440
|
||
|
|
441
|
||
|
|
442
|
||
|
|
443
|
||
|
|
444
|
||
|
|
445
|
||
|
|
446
|
||
|
Both
to Blame
|
36.
If the liability for any collision in which the vessel is involved
while
performing this charter falls to be
|
447
|
|
|
Collision
Clause
|
determined
in accordance with the laws of the United States of America, the
following
provision shall apply:
|
448
|
|
|
“If
the ship comes into collision with another ship as a result of the
negligence of the other ship and any
|
449
|
||
|
act,
neglect or default of the master, mariner, pilot or the servants
of the
carrier in the navigation or in the
|
450
|
||
|
management
of the ship, the Owners of the cargo carrier hereunder will indemnify
the
carrier against all loss, or
|
451
|
||
|
liability
to the other or non-carrying ship or her Owners in so far as such
loss or
liability represents loss of, or
|
452
|
|
damage
to, or any claim whatsoever of the Owners of the said cargo, paid
or
payable by the other or non-carrying
|
453
|
||
|
ship
or her Owners to the Owners of the said cargo and set off, recouped
or
recovered by the other or non-carrying
|
454
|
||
|
ship
or her Owners as part of their claim against the carrying ship or
carrier.”
|
455
|
||
|
“The
forgoing provisions shall also apply where the Owners, operators
or those
in charge of any ship
|
456
|
||
|
or
ships or objects other than, or in addition to, the colliding ships
or
objects are at fault in respect of a collision or
|
457
|
||
|
contact.”
|
458
|
||
|
Charterers
shall procure that all bills of lading issued under this charter
shall
contain a provision in the
|
459
|
||
|
foregoing
terms to be applicable where the liability for any collision in which
the
vessel is involved falls to be
|
460
|
||
|
determined
in accordance with the laws of the United States of
America.
|
461
|
||
|
New
▇▇▇▇▇
|
37.
General average contributions shall be payable according to the
York/Antwerp Rules,
|
462
|
|
|
Clause
|
be
adjusted in London in accordance with English law and practice
|
463
|
|
|
|
464
|
||
|
“In
the event of accident, danger, damage or disaster before or after
the
commencement of the
|
465
|
||
|
voyage,
resulting from any cause whatsoever, whether due to negligence or
not, for
which, or for the
|
466
|
||
|
consequence
of which, the carrier is not responsible by statute, contract or
otherwise, the cargo, shippers,
|
467
|
||
|
consignees
or owners of the cargo shall contribute with the carrier in general
average to the payment of any
|
468
|
||
|
sacrifices,
losses or expenses of a general average nature that may be made or
incurred and shall pay salvage and
|
469
|
||
|
special
charges incurred in respect of the cargo.”
|
470
|
||
|
“If
a salving ship is owned or operated by the carrier, salvage shall
be paid
for as fully as if the said
|
471
|
||
|
salving
ship or ships belonged to strangers. Such deposit as the carrier
or his
agents may deem sufficient to cover
|
472
|
||
|
the
estimated contribution of the cargo and any salvage and special charges
thereon shall, if required, be made by
|
473
|
||
|
the
cargo, shippers, consignees or owners of the cargo to the carrier
before
delivery.”
|
474
|
||
|
Charterers
shall procure that all bills of lading issued under this charter
shall
contain a provision in the
|
475
|
||
|
foregoing
terms, to be applicable where adjustment of general average is made
in
accordance with the laws and
|
476
|
||
|
practice
of the United States of America.
|
477
|
||
|
Clause
|
38.
Charterers shall procure that all bills of lading issued pursuant
to this
charter shall contain the
|
478
|
|
|
Paramount
|
following
clause:
|
479
|
|
|
“(1)
Subject to sub-clause (2) hereof, this ▇▇▇▇ of lading shall be governed
by, and have effect subject
|
480
|
||
|
to,
the rules contained in the International Convention for the Unification
of
Certain Rules relating to Bills of
|
481
|
||
|
Lading
signed at Brussels on 25th
August 1924 (hereafter the “Hague Rules”) as amended by the Protocol
signed
|
482
|
||
|
at
Brussels on 23rd
February 1968 (hereafter the “Hague-Visby Rules”). Nothing contained
herein shall be
|
483
|
||
|
deemed
to be either a surrender by the carrier of any of his rights or immunities
or any increase of any of his
|
484
|
||
|
responsibilities
or liabilities under the “Hague-Visby Rules.”
|
485
|
||
|
“(2)
If there is governing legislation which applies the Hague Rules
compulsorily to this ▇▇▇▇ of lading,
|
486
|
||
|
to
the exclusion of the Hague-Visby Rules, then this ▇▇▇▇ of lading
shall
have effect subject to the Hague Rules.
|
487
|
||
|
Nothing
herein contained shall be deemed to be either a surrender by the
carrier
of any of his rights or immunities
|
488
|
||
|
or
an increase of any of his responsibilities or liabilities under the
Hague
Rules.”
|
489
|
||
|
“(3)
If any term of this ▇▇▇▇ of lading is repugnant to the Hague-Visby
Rules,
or Hague Rules if
|
490
|
||
|
applicable,
such term shall be void to that extent but no further.”
|
491
|
||
|
“(4)
Nothing in this ▇▇▇▇ of lading shall be construed as in any way
restricting, excluding or waiving the
|
492
|
||
|
right
of any relevant party or person to limit his liability under any
available
legislation and/or law."
|
493
|
||
|
▇▇▇▇▇▇▇
|
|
494
|
|
|
|
495
|
||
|
|
496
|
||
|
|
497
|
||
|
|
498
|
||
|
|
499
|
||
|
|
500
|
||
|
|
501
|
||
|
|
502
|
||
|
|
503
|
||
|
|
504
|
||
|
|
505
|
||
|
|
506
|
|
|
507
|
||
|
|
508
|
||
|
|
509
|
||
|
|
510
|
||
|
|
511
|
||
|
|
512
|
||
|
|
513
|
||
|
|
514
|
||
|
|
515
|
||
|
|
516
|
||
|
|
517
|
||
|
|
518
|
||
|
|
519
|
||
|
|
520
|
||
|
|
521
|
||
|
|
522
|
||
|
|
523
|
||
|
|
524
|
||
|
|
525
|
||
|
|
526
|
||
|
|
527
|
||
|
Export
|
40.
The master shall not be required or bound to sign bills of lading
for the
carriage of cargo to any place to
|
528
|
|
|
Restrictions
|
which
export of such cargo is prohibited under the laws, rules or regulations
of
the country in which the cargo was
|
529
|
|
|
produced
and/or shipped.
|
530
|
||
|
Charterers
shall make
best endeavors to ensure
|
531
|
||
|
clause:
|
532
|
||
|
“If
any laws rules or regulations applied by the government of the country
in
which the cargo was
|
533
|
||
|
produced
and/or shipped, or any relevant agency thereof, impose a prohibition
on
export of the cargo
|
534
|
||
|
to
the place of discharge designated in or ordered under this ▇▇▇▇ of
lading,
carriers shall be entitled to
|
535
|
||
|
require
cargo owners forthwith to nominate an alternative discharge place
for the
discharge of the
|
536
|
||
|
cargo,
or such part of it as may be affected, which alternative place shall
not
be subject to the
|
537
|
||
|
prohibition,
and carriers shall be entitled to accept orders from cargo owners
to
proceed to and
|
538
|
||
|
discharge
at such alternative place. If cargo owners fail to nominate an alternative
place within 72
|
539
|
||
|
hours
after they or their agents have received from carriers notice of
such
prohibition, carriers shall be
|
540
|
||
|
at
liberty to discharge the cargo or such part of it as may be affected
by
the prohibition at any safe place
|
541
|
||
|
on
which they or the master may in their or his absolute discretion
decide
and which is not subject to the
|
542
|
||
|
prohibition,
and such discharge shall constitute due performance of the contract
contained in this ▇▇▇▇
|
543
|
||
|
of
lading so far as the cargo so discharged is concerned”.
|
544
|
||
|
The
foregoing provision shall apply mutatis mutandis to this charter,
the
references to a ▇▇▇▇ of lading
|
545
|
||
|
being
deemed to be references to this charter
|
546
|
||
|
Law
and
|
|
547
|
|
|
Litigation
|
|
548
|
|
|
|
549
|
||
|
|
550
|
||
|
|
551
|
||
|
|
552
|
||
|
|
553
|
||
|
|
554
|
||
|
|
555
|
||
|
|
556
|
||
|
|
557
|
||
|
|
558
|
||
|
|
559
|
||
|
|
560
|
||
|
|
561
|
||
|
|
562
|
||
|
|
563
|
||
|
|
564
|
||
|
|
565
|
||
|
|
566
|
||
|
|
567
|
||
|
|
568
|
||
|
|
569
|
||
|
|
570
|
|
|
571
|
||
|
|
572
|
||
|
|
573
|
||
|
Construction
|
42.
The side headings have included in this charter for convenience of
reference and shall in no way
|
574
|
|
|
affect
the construction hereof.
Additional
Clauses 43 through 96 forms an integral part of this Charter and
are fully
incorporated herein’
|
575
|
|
Charterers
|
Owners | ||
| /s/ Meng ▇▇▇▇ ▇▇▇ | /s/ C.A.J. Vanderperre | ||
|
Printed
Name: Meng ▇▇▇▇ ▇▇▇
|
Printed Name: C.A.J. Vanderperre |
||
|
Title:
Managing Director
|
Title: Director |
|
This
is a precise copy of the original document which can be modified,
amended
or added to only by the striking out of
|
|||
|
original
characters, or the insertion of new characters, such characters being
clearly highlighted by underlining or use of
|
|||
|
colour
or use of a larger font and marked as having been made by the licensee
or
end user as appropriate and not by the
|
|||
|
author.
|
MT
SHINYO ▇▇▇▇▇▇▇
TIME
CHARTER PARTY DATED AUGUST 28TH, 2006
CLAUSE
43. Speed
and Consumption Guarantee Clause
Owners
guarantee that the speed and consumption of the vessel upto BF 5 shall
be as
follows.
|
Av
Speed
|
Consumption
(M/tDay) for M/E
|
|
Consumption
(M/t Day) for Auxiliaries
|
||||||||||
|
(Knots)
|
Laden
|
|
Ballast
|
|
HFO
|
|
MGO
|
||||||
|
16.5
|
-
|
-
|
-
|
-
|
|||||||||
|
16.0
|
-
|
77.0
|
4.0
|
0.1
|
|||||||||
|
15.5
|
-
|
75.0
|
4.0
|
0.1
|
|||||||||
|
15.2
|
-
|
72.0
|
4.0
|
0.1
|
|||||||||
|
15.0
|
79.0
|
71.0
|
4.0
|
0.1
|
|||||||||
|
14.5
|
77.0
|
69.0
|
4.0
|
0.1
|
|||||||||
|
14.0
|
75.0
|
67.0
|
4.0
|
0.1
|
|||||||||
|
13.5
|
74.0
|
65.0
|
4.0
|
0.1
|
|||||||||
|
13.0
|
72.0
|
63.0
|
4.0
|
0.1
|
|||||||||
CLAUSE
44. Oil Major Approval Clause
To
the
best of Owners knowledge, vessel is, at the time of fixing, approved
by:
|
MT
Shinyo
▇▇▇▇▇▇▇
|
||
|
|
||
|
▇▇▇▇▇:
|
11.05.2007
|
|
|
BP:
|
06.02.2007
|
|
|
EXXONMOBIL:
|
Approved
|
|
|
TOTALFINA
SOMERELF:
|
12.02.2007
|
|
|
PETRONAS:
|
16.06.2007
|
|
|
02.02.2006
|
||
|
Last
SIRE:
|
PETRONAS17.06.2006
|
1
|
OilMajor
|
Status
|
Last
inspection
|
Expiring
|
|||
|
BP
|
Statoil
SIRE report
|
07/02/2005
|
06/02/2007
|
|||
|
CHEVRON
TEXACO
|
Onsan
- Report in SIRE. E-mail dtd 19/6/06: Inspection deferred to
Nov/Dec 06
due to Shell inspn on 12/5/06.
|
|
To
arrange Chevron at ▇▇▇▇▇ port around 20/09/06
|
|||
|
EXXONMOBIL
|
msg
dtd 28/7/06: As per our records, the vessel was evaluated on
the basis of
a SIRE Inspection by STASCO dated 12th May 2006
|
|
Approved
|
|||
|
SHELL
|
Qingdao
- Report in SIRE
|
12/05/2006
|
11/05/2007
|
|||
|
TOTALFINA
SOMERELF
|
Onsan
- Report in SIRE
|
13/02/2006
|
12/02/2007
|
|||
|
PETRONAS
|
Fujairah
|
17/06/2006
|
16/06/2007
|
|||
|
STATOIL
|
Onsan
- Report in SIRE
|
03/02/2005
|
02/02/2006
|
Owners
warrant to ensure that the vessel is approved by Shell plus min of 2 other
oil
companies on delivery from the following list: Exxom/BP/Chevtex.
In
addition, Owners shall also warrant that they shall exercise their best
endeavour in order to maintain minimum 3 approvals throughout this charter,
and
have minimum one valid approved inspection submitted into the SIRE system
every
6 months. Furthermore, Owners will do their best to also obtain and maintain
other approvals/acceptances that may be required by Charterers during the
currency of this Time Charter Contract including, but not limited to Statoil,
Total, BHP and Repsol vetting approvals and so on as requested by
Charterers.
During
the currency of this Time Charter, should Owners fail to comply with the
all the
above, Charterers may so notify Owners in writing of such failure and,
if after
30 days following receipt by Owners of any such notice, Owners have failed
to
demonstrate to Charterers reasonable satisfaction the exercise of due diligence
in obtaining such vetting approvals/acceptances, the Charterers shall have
the
right to put the vessel off-hire by giving notice in writing with effect
from the date on which Owners fail to comply with the above or from later
date
stated in such notice. Nevertheless, Charterer shall exercise their due
diligence in seeking other employment of the Vessel from alternative Oil
Majors
in mitigating Owner’s loss.
Any
time
directly incurred by or directly associated with Oil Majors inspections
shall be
for Charterer’s account. Cost and expenses of such to be in Owners’ account. In
case of failure, any time loss thereby and costs and expenses incurred
in taking
remedial measures of any defects as alleged by the Oil Majors shall be
for
Owner’s account.
2
CLAUSE
45. U.S.C.G. Notification Clause
The
Vessel shall comply with all U.S. Coast Guard requirements with regard
to
advance arrival notification including, but not limited to, disclosure
of
Charterers’ name. U.S. Coast Guard may board the Vessel if the Charterers are
deemed to be within a ‘high risk’ category. Any and all delays to the Vessel due
to Owner’s failure to comply USCG requirements following such boarding or
inspection shall count as off-hire and all expenses incurred due to such
inspection to be for Owners’ account and to be settled by them directly or
settled immediately upon receipt of Charterers’ invoice with supporting
documents if such expenses are invoiced to the Charterers’.
CLAUSE
46. T.V.E.L. Clause
Time
and
expenses for obtaining USCG inspection to be for Charterer’s account. Unless
Vessel has failed to obtain same, in such case, time and expenses are in
Owner’s
account till final approval of such has/have been obtained.
CLAUSE
47. Sea Pilots & Traffic Separation Clause
In
the
interest of safety, the Master will observe the recommendation as to traffic
separation and routing as issued from time to time by the Intergovernmental
Maritime Consultative Organization or as promulgated by the state of the
flag of
the Vessel or the state in which the effective management of the Vessel
is
exercised. Sea pilots, where the use of these are compulsory are always
to be
engaged at Charterers’ cost.
CLAUSE
48. U.K. Water Traffic Routing Clause
The
Charterers will do their best to assist the Owners to observe, and to instruct
the Master to observe, the code of practice relating (inter alia) to
recommendations as to routes to be taken by tankers in certain sensitive
locations in United Kingdom Waters, as drawn up by the British Chamber
of
Shipping in March 1993.
3
CLAUSE
49. Controlled Passages Clause
Except
where the Master is taking his responsibility to ensure the safety of the
Vessel, property and life on board, the Vessel while performing under this
Charter shall not navigate the following passages.
1.
The
Strait of ▇▇▇▇▇▇▇
2.
The
Strait of Bonifacio
3.
Between the Scilly Islands and land’s End
4.
The
Minches and the channel between St. Kilda and the West Coast of
Hebrides
5. If
bound
to port(s) on the East Coast of the U.K., north of the River Thames, the
in-shore traffic zones in the English Channel
6.
Between Somalia and the island of Socotra.
When
transiting the Florida Straits, from Key Biscayne south to the Dry Tortugas,
the
Vessel shall maintain a distance of not less than ten (10) nautical miles
off
the outer navigational aids marking the reefs off the Florida Keys. When
transiting the Windward Passage or the Yucatan Channel, the Vessel shall
give
the coast of Cuba a wide berth.
CLAUSE
50. Agency Clause
Owners
to
appoint their own agents when and if there is major Owners’ business such as
extensive repairs, docking and other extended off-hire, etc. However,
Charterers’ agents to attend to minor matters such as postage, cash advance to
Master, crew transportations, medical, telexes etc. on Owners’ behalf. Charterer
will settle such expenses with the agents in first instance and debit Owner
by
deduction from payment of Charter hire with supporting vouchers.
CLAUSE
51. Re-measurement Clause
Charterers
have the right to request Owners to re-measure the Vessel up or down as
the case
may be and as permitted by the Classification Society for the purpose of
satisfying certain port and/or terminal regulations. Such request, if any,
shall
be made in writing sufficiently in advance, but if any delay is occurred
to
Vessels schedule due to late issuance of such deadweight documentation,
such
delay shall always be for Charterers’ account and all costs incurred to issue
such certification shall be for the Charterers’ account and shall be settled by
them together with next due hire payment upon being invoiced by the
Owners.
4
CLAUSE
52. Minimum Speed (slow speed & speed up) Clause
Owners
agree to allow Charterers to issue orders directly to the Vessel to slow
down
from [agreed speed laden and ballast as per clause 24] knots or speed up
from
[agreed speed laden and ballast as per clause 24] knots always consistent
with
safe operation of the Vessel and its machinery on ballast and/or on laden
passages. However, the speed/consumption warranty as per Clause 24 should
not
apply in such case.
CLAUSE
53. Inert Gas System Clause
Owners
warrant that the Vessel is equipped with a fully functional, efficient
and
certified Inert Gas System (‘IGS’), which is in use on the date of delivery of
the Vessel hereof and shall so remain during the period of this
Charter.
CLAUSE
54. Crude-Oil-Washing System Clause
Owners
warrant that the Vessel is equipped with a fully functional, efficient
and
certified Crude Oil Washing system (‘COW’), which is in use on the date of
delivery of the Vessel hereof and shall so remain during the period of
this
Charter.
CLAUSE
55. Ballast Exchange Management Clause
Owners
shall instruct the Master to comply with ballast water management and reporting
of the state, local and international regulations as applicable at the
time. In
executing ballast water management, Owners warrant that approved ballast
exchange method(s) will be used bearing in mind all aspects of safety and
seaworthiness of the Vessel.
5
CLAUSE
56. Clean Ballast Clause
Owners
warrant that the Vessel will comply with all international and national
conventions, regulations, voluntary guidelines and laws that may from time
to
time be issued by the relevant and/or appropriate authority concerning
the
control of ballast water discharge from ships. In no event will the Vessel
discharge dirty ballast or ballast deemed by the Owners to be clean ballast,
but
carried in tanks which previously carried cargo, in or near any coastal
waters.
CLAUSE
57. Sea Terminals Clause
Owners
warrant that if and when the Vessel is loading or discharging at a sea
terminal,
for reason of safety, she will maintain her engines in readiness at all
times
and will be in such a state that she is able to promptly suspend the cargo
operation with hoses and mooring lines that can be promptly disconnected
for
proceeding to another anchorage or area as directed by charterers.
CLAUSE
58. Blending Clause
Charterers
have the option to blend the cargo on board the Vessel subject to provision
of a
LOI based upon Owner’s P & I Club wording, referred to (iv) hereinbelow
provided always that such blending is;
(i)
Within the technical capability of the Vessel;
(ii)
Harmless to the Vessel, her crew, her cargo tanks, cargo pumps and other
cargo
handling systems;
(iii)
within Masters’ consideration as regard to safety;
(iv)
on
each and every occasion the Charterers shall provide the Owners with a
Letter of
Indemnity with wording acceptable to Owners for the purpose of they indemnifying
the Owners, Vessel and Master against any liability for
(a).
Any
claim from any third party and
(b).
For
cargo re-documentation that may arise as a result of the on board blending,
6
CLAUSE
59. Watchmen Clause
Shore
gangway watchmen shall be servants of the Owners, but the cost for such
watchmen shall
be
borne by the Charterers.
CLAUSE
60. Eligibility Clause
Owners
warrant that:
(i)
The
Vessel is in all respects eligible under applicable laws and regulations
for
trading to the areas specified in Clause 4 and that at all necessary times
she
shall have on board all certificates (including International Tonnage
Certificate 1969) required for such service.
(ii)
Safety Management System (‘SMS’)
in
accordance with the ISM Code will be in operation throughout the term of
this
Charter. It is a condition of this Charter that the Owner’s or ‘the company’ (as
defined by the ISM Code) shall have a valid Document of Compliance
(‘DOC’)
and
the Vessel shall have a valid Safety Management Certificate (‘SMC’).
(iii)
Throughout the period of this Charter the Vessel shall comply with the
requirements of SOLAS (IMO protocol of 1978 relating to the International
Convention for the Safety of Life at Sea, 1974) and MARPOL (IMO Protocol
of 1978
relating to the International Convention for the Prevention of Pollution
from
Ships 1983) and subsequent updates. Owner further warrants that with particular
reference to these protocols, and any further amendments or successors
to these
protocols, the Vessel shall have on board all necessary certification of
compliance to enable the Vessel to trade at any place within the agreed
trading
range of this Charter without any restriction.
(iv)
In
accordance with 19 CFR SS 4.7A and 178.2, as amended, Charterers standard
carrier ALPHA (‘SCAC’)
which
will prefix a ▇▇▇▇ of Lading serial number and form a ‘unique identifier’ will
be entered on all Bills of Lading, Cargo manifests, Cargo declarations
and other
cargo documents relating to carriage of goods to the Unites States as may
be
provided for hereunder.
(v)
During the term of this Charter the Vessel will comply, and if not in compliance
will hold necessary waivers, with all applicable United States Coast Guard
(‘USCG’)
Regulations in effect including, but not limited to, pollution and safety
regulations of the Code of Federal Regulations, as amended, and all other
applicable state pollution and safety laws, rules and regulations as may
be
promulgated and subsequent amendment thereto.
7
CLAUSE
61. Drugs and Alcohol Policy Clause
Owners
warrant that it has a policy on drug and alcohol abuse (‘Policy’)
applicable to the Vessel, which meets or exceeds the standards in the Oil
Companies International Marine Forum (‘O.C.I.M.F.’)
guidelines for the control of drugs and alcohol. Under the Policy, alcohol
impairment shall be defined as a blood content of 40 mg/100 ml or greater;
the
appropriate seafarers to be tested shall be all officers of the Vessel
and the
drug and alcohol testing and screening shall include unannounced testing
in
addition to routine medical examinations. An objective of the policy shall
be
that the frequency if the unannounced testing be adequate to act as an
effective
abuse deterrent, and that all officers be tested at least once a year through
a
combined program of unannounced testing and route medical
examinations.
CLAUSE
62. Hull and Machinery Insurance Clause
Owners
warrant that it has in force and effect by the date of Vessels delivery
under
this Charter, hull and machinery insurance placed through reputable brokers
on
institute clauses or equivalent for the value of USD
125,000,000 (USD 100,000,000 (H&M) and USD 25,000,000
(IV))..
Owners
furthermore warrant that such insurance shall be maintained for the duration
of
this Charter.
CLAUSE
63. Oil Pollution Insurance / OPA 90 / COFR Clause
Owners
warrant that throughout the term of this Charter the Vessel shall be entered
for
standard oil pollution liability cover with a Protection & Indemnity Club
(‘P&I
Club’)
belonging to the International Group of P & I Clubs in compliance with this
Clause. Owners shall promptly furnish evidence of the Vessels entry into
a
P&I Club and the limits of oil pollution liability cover afforded thereby
upon Charterers’ written request. Owners warrant that they have, and will
maintain throughout the period of this charter, Oil Pollution Insurance
Cover of
maximum cover available (currently US$ 1,000 Million) as and when it becomes
available from their P&I Club, or through underwriters acceptable to the
Owners, providing first class security. The fixed annual costs of entering
and
maintaining compliance with the requirements of the US Oil Pollution Act
of 1990
(‘OPA90’)
for
the entire term of this Charter are the responsibility of the Owners. All
voyage
and port call specific variable costs relating to these certificates are
the
responsibility of the Charterers and shall be for their account and shall
be
paid by the Charterers with next hire payment upon presentation of Owners
invoice including supporting documentation in a form reasonably satisfactory
to
the Charterers. Owners warrant that throughout the term of this Charter
they
will provide the Vessel with all necessary certificates including, but
not
limited to certificate issued pursuant to the Civil Liability Convention
1992
(‘CLC’),
as
and when in force and a Certificate of Financial Responsibility (‘COFR’)
issued
pursuant to section 1016 (a) of the Environmental Response, Compensation
and
Liability ▇▇▇ ▇▇▇▇, as amended in accordance with Part 138 of Coasts Guard
Regulations 33 CFR, so long as these can be obtained by the Owners from
the
United States Coast Guard. The costs of same to be for Owners account but
voyage
related costs to be for Charterers account.
8
CLAUSE
64. War Risks Clause
a.
Contraband
No
contraband of war shall be shipped, but petroleum and/or its products shall
not
be deemed contraband of war for the purposes of this clause.
b.
War
Zones
The
Vessel shall not, however, be required, without the consent of Owners,
which
shall not be unreasonably withheld, to enter any port, place or zone which
is
involved in a state of war, warlike operations, or hostilities, civil strife
or
piracy, whether there be a declaration of war or not, where it might reasonably
be expected to be subject to capture, seizure or arrest, or to a hostile
act by
a belligerent power (the term ‘power’ meaning any de jure or de facto authority
or any other purported governmental organization maintaining naval, military
or
air forces).
c.
War
Risk Insurance
For
purposes of this Clause, it shall be unreasonable for Owners to withhold
consent
to any voyage, route, or port or place of loading or discharge if insurance
against all risks defined in paragraph b. of this Clause is then available
commercially or under a government program in respect to such voyage, route
or
port or place of loading or discharge, If such consent is given by Owners,
Charterers shall pay any provable additional cost of insuring the Vessel
against
Hull war risks over and above such costs in effect on the date of this
Charter
in an amount equal to the insured value under her ordinary hull policy,
which
includes basic and Increased Value covers. If such insurance is not obtainable
commercially or through a government program, the Vessel shall not be required
to enter or remain at any such port, place or zone. In addition, Owners
may
purchase war risk insurance for account of Charterers against ancillary
risks
such as loss of hire, freight disbursements, total loss, etc. if it carries
such
insurance for ordinary marine hazards.
9
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d.
Additional Costs
All
War
Risk additional premium including but not limited to any surcharges and
Crew War
Risk Bonus / Insurance to be for Charterers’ account. Vessel’s insured value
is
Usd 125,000,000.
Charterers
settlement shall be paid together with hire payment against Owners’ supporting
documents and /or vouchers.
Any
premiums, or increases thereto, attributable to closure (i.e. blocking
and
trapping) insurance shall be for Charterer’s account.
e.
Hostile Areas
Owners
shall have the option of adjusting the timing, speed and routing of the
inward
and outward passage through areas of hostility depending on the prevailing
pattern of hostilities. Owners shall keep Charterers advised of its plans
to
transit areas of hostilities including any changes while in
transit.
The
voyage instruction procedures for the Vessel to transit a hostile are(s)
shall
be as follows:
Charterers
issue voyage instructions directly to the Vessel, with a copy to Owner.
Charterers voyage instructions should include:
1)
Specific ports to load/discharge and sequence of port calls
2)
Required load/discharge dates
3)
Cargo
grades and quantities
4)
Bunkering supply procedures
5)
Cargo
measurement and documentation requirements, etc.
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Charterers
voyage instructions to include advice to the Master that the specific sailing
instructions for the passage in and out and through the area of
hostilities.
Charterers
voyage instructions, shall include the level and nature of risk in the
hostile
area(s) and issue specific cautionary sailing instructions directly to
the
Vessel with copy to Owner’s office on an urgent basis.
Specific
cautionary sailing instructions shall include passage timing, recommended
routing and speed in and out and through the area(s) of hostilities, and
other
specific cautionary instructions.
CLAUSE
65. Civil Liability Convention Clause
Owners
warrant that the Vessel will have on board at the time of delivery under
this
Charter and thereafter during the entire term of this Charter a valid
certificate as required by Article 7 of the International Convention of
Civil
Liability for Oil Pollution Damage of 1969 as amended 1976 or 1992
(‘CLC’).
CLAUSE
66. Third Party Arrest Clause
In
the
event of arrest or other sanction levied against the Vessel or Charterers
as a
consequence of any act or omission on the part of Owners or any failure
by
Owners and/or Vessel to comply with the terms and conditions of the Charter
set
forth herein, Owners shall indemnify and hold Charterers harmless for any
damages, penalties costs and consequences and any time Vessel is under
arrest is
fully for Owners account and count as time off-hire.
In
the
event or arrest or other sanction levied against the Vessel or Owners as
a
consequence of any act or omission on the part of the Charterers or any
failure
by Charterers to comply with the terms and conditions of the Charter, Charterers
shall indemnify and hold Owners harmless for any damages, penalties, costs
and
consequences and any time the Vessel is under arrest is fully for Charterers
account and count as time on-hire.
CLAUSE
67. Ownership and Flag Clause
Owners
will not change the flag or sell the Vessel during the term of this Charter
without the Charterers prior written consent, which shall not be unreasonably
withheld or delayed. For the purpose of this Clause it shall always be
considered unreasonable for the Charterers not to consent to such proposed
flag
change proposed by the Owners to facilitate continued implementation of
this
Charter without infringement or restriction whether under international
trade
sanctions, boycotts or otherwise. If such consent is granted, Charterers
and
Owners and the purchaser shall join in executing a novation agreement novating
to the purchaser Owners rights and obligations under this Charter. The
responsibility of obtaining new vettings etc. after any of these changes
will be
Owners and although Charterers shall do utmost to ensure that the vessel
is
suitable employed any time-loss due to missing vettings etc to be for Owners
account.
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CLAUSE
68. Law & Arbitration Clause
This
contract shall be governed by and construed in accordance with English
law and
any dispute arising out of or in connection with this Contract shall be
referred
to an arbitration in London in accordance with the Arbitration Act 1996
or any
statutory modification or re-enactment thereof save to the extent necessary
to
give effect to the provision of this Clause.
The
arbitration shall be conducted in accordance with the London Maritime
Arbitrators Association (LMAA) Terms current at the time when the arbitration
proceedings are commenced. The reference shall be to three arbitrators
unless
otherwise agreed. A party wishing to refer a dispute to arbitration shall
appoint its arbitrator and send notice of such appointment in writing to
the
other party requiring the other party to appoint its own arbitrator within
14
calendar days of that notice and If the other party does not appoint its
own
arbitrator and does
not
respond that it has done so within the 14 days specified, the party referring
a
dispute to arbitration may, without the requirement of any further prior
notice
to the other party, appoint its arbitrator as sole arbitrator and shall
advise
the other party accordingly. The award of a sole arbitrator shall be binding
on
both parties as if he had been appointed by agreement.
Nothing
herein shall prevent the parties agreeing in writing to vary these provisions
to
provide for the appointment of a sole arbitrator.
12
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CLAUSE
69. Serving Notices Clause
All
notices, authorizations, approvals, waivers, requests and other communications
hereunder (collectively ‘Notices’)
shall
be in writing, shall be addressed as provided below and shall be delivered
in
person, sent by facsimile or e-mail, mailed (registered and postage prepaid)
or
sent by a recognized international courier dispatch service. All notices
shall
be deemed to be properly given or made upon the earliest to occur of
(a) actual
delivery, (b) five (5) days after being sent by prepaid registered mail
as
aforesaid, (c) immediately at the time of full and effective transmission
by
facsimile evidenced by an error-free transmission report or e-mail and
(d) at
the time of actual delivery by an internationally recognized courier
dispatch
service. For the purposes of notices, the addresses, e-mail and facsimile
numbers of the Owners and Charterers are set forth below:
-
In the
event of notice to the Charterers:
▇▇.
▇▇▇,
▇▇▇▇▇▇▇
Dalian
Ocean Shipping Co.
Address:
▇▇. ▇▇ ▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇▇▇▇▇▇▇ ▇▇▇▇., ▇▇▇▇▇▇, ▇▇▇▇▇ 116001
E-mail:
▇▇▇▇▇@▇▇▇▇▇▇▇.▇▇▇
Fax
No.: +
▇▇
(▇▇▇) ▇▇▇▇ ▇▇▇▇
-
In the
event of notice to the Owners:
(Owners
provide)
Univan
Ship Management Ltd
Address:
▇▇▇▇▇ ▇▇▇, ▇/▇, ▇▇▇▇▇ ▇▇▇▇▇, ▇▇▇▇▇▇▇▇ ▇▇▇▇ ▇, ▇▇▇▇▇▇▇, ▇▇▇▇ ▇▇▇▇
E-mail:
▇▇▇▇▇▇▇@▇▇▇▇▇▇.▇▇▇.▇▇
Tel
No:
(▇▇▇) ▇▇▇▇ ▇▇▇▇
Fax
No:
(▇▇▇) ▇▇▇▇ ▇▇▇▇
CLAUSE
70. Bills of Lading Clause
a
Signatures
The
Master as directed by Charterers or their agents, always within applicable
laws
and conventions, shall sign Bills of Lading. However, at Charterers option,
Charterers or their agents may sign Bills of Lading on behalf of the Master
in
which case Charterers shall provide the Vessel or Owner with copies of
the Bills
of Lading. All Bills of lading shall be without prejudice to the Charter,
and
Charterers shall indemnify Owners against all consequences and liabilities
which
may arise from any inconsistency between the Charter and any Bills of Lading
or
from any documents signed by Charterers or their agents, and from any documents
signed or action taken by the Master at their request, and which may arise
from
an irregularity in papers supplied by Charterers or their agents.
13
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b
Carriage of Cargo
Notwithstanding
anything in the Charter to the contrary, the carriage of cargo under the
Charter
and under all Bills of lading issued for the cargo shall be subject to
the
statutory provisions and other terms set forth or specified in this Clause
in
its entirety and such terms shall be incorporated verbatim, or be deemed
incorporated by reference, in any such ▇▇▇▇ of Lading. In such Clauses
and in
any Act referred to therein, the word ‘Carrier’ shall include Owners and any
chartered Owners of the Vessel.
c
Limitation of Liability
Any
provision of the Charter to the contrary notwithstanding, the Carrier shall
have
the benefits of all limitations of, and exemptions from, liability accorded
to
the Owners or chartered Owners of vessels by any statute or rule of law
for the
time being in effect.
d
Deviation
Subject
otherwise to the terms of this Charter, the Vessel shall have the liberty
to
sail with or without pilots, to tow or be towed, to go to the assistance
of
vessels in distress, to deviate for the purpose of saving life or property
or of
landing any ill or injured person on board, the cost of which shall be
shared
fifty/fifty (50/50) between Owners and Charterers.
e.
▇▇▇▇
of Lading Indemnity
If
Charterers requests Owners in writing to deliver a quantity of cargo at
a
discharge port or place either:
(i)
Without prior presentation to the Vessel at the discharge port or place
of one
(1) of the original Bills of lading issued for the cargo, duly endorsed,
and/or;
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(ii)
At a
discharge port or place other than that specifically named in said Bills
of
Lading, Owner shall deliver the cargo in accordance with Charterers request
if
Charterers make such delivery request (‘Delivery
Request’)
in
writing referring to this Clause of the Charter. The indemnity set out
in this
clause sub paragraph f. below shall automatically be deemed to be given
by
Charterers in favor of Owners, Vessel, any chartered Owner(s) of Vessel,
Master,
Vessel operators, agents and underwriters on each occasion that Owners
delivers
the cargo pursuant to the Delivery Request.
f.
Form
of Indemnity
Throughout
the currency of this charter, Charterers are entitled to:
1.
instruct the Master to deliver the cargo on board without production of
Original
Bills of Lading, or
2.
to
proceed to and discharge cargo at safe port or place other than that named
in
the ▇▇▇▇ of Lading, or
3.
to
proceed to a port or place and discharge a quantity of cargo different
from that
stated in the original ▇▇▇▇ of Lading.
In
consideration of the foregoing, the original hard copy Letter of Indemnity
(as
per Appendix iv) shall be given to Owners and to be in full force and effect
on
each and every occasion when discharge as aforesaid takes place.
Charterers
should use Owners’ P &I Club wording as per Appendix iii
CLAUSE
71. Drawings and Certificates Clause
The
Owners shall send photocopies of the following plans and certificates to
the
Charterers by courier before delivery of the Vessel under this
Charter:
(i)
Cargo
Capacity Plan
(ii)
General Arrangement Plan including a Deadweight Scale
(iii)
Mooring Plan
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(iv)
Cargo and Ballast Piping Arrangement Plan
(v)
Safety Management Certificate
(vi)
Document of Compliance
(vii)
Suez Canal Certificate
CLAUSE
72. Crew Operational Knowledge and English Speaking
Clause
Owners
guarantee that there will be on board, at all times, sufficient personnel
with a
reasonable working knowledge of the English language to enable cargo operations
at loading or discharging places to be carried out efficiently.
CLAUSE
73. Storage & Underwater Cleaning Clause
The
Charterers have the option to employ the vessel as a storage tanker for
up to a
maximum of 180 days during the term of this Charter. During such time(s)
as the
vessel is employed as a storage tanker, the Master will co-operate to keep
vessels consumption to a minimum, always subject to Masters discretion
keeping
in mind safety of the vessel and the cargo.
If
the
vessel is employed as a storage tanker, or remain idle for a period of
20 days
or more, the underwater parts becomes fouled by marine growth due to such
extended stay(s) and therefore the Owners will arrange for underwater cleaning
including polishing of the propeller at Charterers time and cost, the cost
of
which Charterers shall pay together with the next due hire payment, and
all time
used shall count as time on-hire.
Furthermore,
if the vessel is employed as a storage tanker or remain idle for a period
of 20
days or more, the speed and consumption warranties as per Clause 43 herein
are
automatically invalidated until such time as the Owners are able to carry
out a
complete underwater hull cleaning, including propeller polishing, as described
above.
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The
Owners have a program by which vessel's underwater parts will be cleaned
at
Owner's time and cost, but without incurring off-hire - provided maximum
12
hours used annually - whenever practically feasible and where all the equipment
necessary to carry out such cleaning are readily available.
CLAUSE
74. Pumping Clause
Owner
warrants that throughout the charter period, the vessel shall discharge
entire
cargo within 24 hours including time for stripping and COW (12 hour additional
allowance for COW for all tanks or pro rate if not all tanks), or maintain
average 100 psi at ship’s rail provided shore facilities can permit same. Should
Vessel fail to maintain the warranted rate of discharge throughout as aforesaid,
Charterers shall deduct the excess of discharge time, plus excess bunkers
consumed, from the hire.
Hoses
between the Vessel and the shore flanges shall be furnished by Charterers,
and
shall be connected and disconnected by Charterers.
CLAUSE
75. Cast Iron Clause
Owners
warrant that all riser valves and fitting, outboard of the last fixed rigid
support to the ship’s deck that are used in the transfer of cargo or ballast,
will be made of steel or nodular iron and that only steel reducer or spacer
will
be used between the ship’s valve and the loading arm. The fixed rigid support
must be designed to prevent both lateral and vertical movement of the transfer
manifold.
CLAUSE
76. Ship-to-Ship Transfer Clause
Charterers
shall have the right to load or discharge the vessel via Ship-to-Ship
lighterage. Lightering and Ship-to-Ship transfer operations shall be performed
in accordance with, and meet or exceed, the standards in the latest OCIMF
guidelines for Ship-to-Ship transfers. Charterers shall provide at their
expense
necessary equipment and facilities including fenders, hoses, mooring masters,
etc. for safe operations to Owners/Masters satisfaction which shall not
be
unreasonably withheld. Charterers shall also provide representative (mooring
master and/or cargo co-coordinator) to board the vessel to give technical
assistance to perform Ship-to-Ship transfer for Charterers account. Ship-to-Ship
transfer operations should be performed only in ports or areas where vessel
can
continuously be safely afloat and permitted by relevant port authorities,
and if
in the US Gulf approved by U.S. Coast Guard/Port authorities to perform
Ship-to-Ship Transfer. Operations shall be made under control and supervision
of
the Master. Charterers shall notify Owners in advance when/where/how such
operations will be conducted and other information for the prior approval
of
Vessels underwriters. Additional insurance premium in connection with such
operations, if any, shall be for Charterers account.
17
MT
SHINYO ▇▇▇▇▇▇▇
TIME
CHARTER PARTY DATED AUGUST 28TH, 2006
CLAUSE
77. In Transit Loss Clause
Subject
to Clause 38, Owners to be responsible for any cargo in-transit loss exceeding
0.5% as
determined by surveyor’s figures. In-transit loss is defined as the difference
between vessel’s TCV (Total Calculated Volume) at 60 Deg. F after loading at the
load port and before unloading at the discharge port based on surveyor’s
figures. Calculation to be based at 60 Deg. F with API of load port. Such
losses
to be claimed the Owner separately (without interfering regular hire payment
in
full) deducted from hire at an amount equal to the FOB load port value
of such
cargo plus freight and insurance due with respect thereto
CLAUSE
78. House Flag/Charterers Markings/Name Clause
Charterers
should be permitted to install their own equipment on the vessel, and to
make
the necessary electric, hydraulic, steam or water connections at their
own time
and expense, with liberty to remove it at their own time and expense during
or
at the expiry of the Charter, leaving the vessel in her original
condition.
Subject
to Owner’s approval, which cannot be unreasonably withheld, Charterers have
liberty of changing vessel's name at the Charterers' time and
expenses. Charterers ought to be authorized, if they so choose, to fly
their house flag and to paint the vessel's funnel with their own colors.
Upon Charterers’ request, Owners shall have their crew work best endeavor to
perform painting/repainting work as far as concerning work by ship's hands
if
practically possible. Labour and any other reasonable cost for Charterers
account.
CLAUSE
79. BIMCO ISPS Clause for Time Charter Parties
(amended)
A.(i)
From the date of coming into force of the International Code for the Security
of
Ships and of Port Facilities and the relevant amendments to Chapter XI
of SOLAS
(ISPS Code) in relation to the Vessel and thereafter during the currency
of this
Charter Party, the Owners shall procure that both the Vessel and ‘the Company’
(as defined by the ISPS Code) shall comply with the requirements of the
ISPS
Code relating to the Vessel and ‘the Company’. Upon request the Owners shall
provide a copy of the relevant International Ship Security Certificate
(or the
Interim International Ship Security Certificate) to the Charterers. The
Owners
shall provide the Charterers with the full style contact details of the
Company
Security Officer (CSO).
18
MT
SHINYO ▇▇▇▇▇▇▇
TIME
CHARTER PARTY DATED AUGUST 28TH, 2006
(ii)
Except as otherwise provided in this Charter Party, loss, damage, expense
or
delay, excluding consequential loss, caused by failure on the part of the
Owners
or ‘the Company’ to comply with the
requirements
of the ISPS Code or this Clause shall be for the Owners account.
B.
Except
as otherwise provided in this Charter Party, loss, damage, expense or delay,
excluding consequential loss, caused by failure on the part of the Charterers
to
comply with this Clause shall be for the Charterers account.
C.
Notwithstanding anything else contained in this Charter Party all delay,
costs
or expenses whatsoever arising out of or related to security regulations
or
measures required by the port facility or any relevant authority in accordance
with the ISPS Code including, but not limited to, security guards, launch
services, tug escorts, port security fees or taxes and inspections, shall
be for
the Charterers account, unless such costs or expenses result solely from
the
Owners negligence. All measures required by the Owners to comply with the
Ship
Security Plan shall be for the Owners account.
D.
If
either party makes any payment which is for the other party's account according
to this Clause, the other party shall indemnify the paying party.
CLAUSE
80. Purplefinder Clause
Charterers
have the option to enroll the vessel with Purplefinder at their
cost.
CLAUSE
81. Appendix Clause
(i)
Questionnaire 88
(ii)
OCIMF VPQ
(iii)
Owners LOI wordings
19
MT
SHINYO ▇▇▇▇▇▇▇
TIME
CHARTER PARTY DATED AUGUST 28TH, 2006
CLAUSE
82. Texaco Compatibility Clause
If
more
than three (3) grades loaded, at least three (3) grades must be compatible
and
owners shall not be held responsible for contamination occurring in lines
or
pumps between such compatible grades, nor for discolourization.
CLAUSE
83. ITOPF Clause
Owners
warrant that the vessel is a member of the International Tanker Owners
Pollution
Federation (ITOPF) and Owners will remain such membership during the entire
period of this charter party.
CLAUSE
84.Off-Hire Duration Clause
If
any
period of off-hire under clause 21 exceeds 45 days except for periodical
dry-docking, then Charterers have the option to terminate this charter
by giving
notice in writing to Owners.
Termination
shall take effect 15 days after such notice of termination is received
by Owners
or from any later date after 15 days stated in such notice. Upon termination
in
accordance with this clause, Owners shall forthwith remit to Charterers
any hire
paid but not earned as at the date of termination and any other monies
owing,
including but not limited to bunker quantities over and above those supplied
by
Owners on delivery.
This
clause is without prejudice to any other rights of Charterers or obligations
of
Owners under this charter or otherwise.
CLAUSE
85. Vetting and Auditing Clause
Prior
to
delivery and immediately after delivery and then at any time during the
period
of this charter, Charterers shall have the right to inspect the vessel
and audit
the Owners safety management procedures to ensure that the vessel and safety
management procedures comply with the provisions of this charter. Owners
undertake to maintain such Oil Major Approvals referred to in Clause 44
above
throughout the charter period.
20
MT
SHINYO ▇▇▇▇▇▇▇
TIME
CHARTER PARTY DATED AUGUST 28TH, 2006
However
notwithstanding the above, should the charter party period exceed 4 months,
with
prior notice to the Owner, then the Charterer shall re-inspect the vessel
at
their own cost and time at intervals not exceeding 6 months, to ensure
that
certification and operating standards are maintained at the levels identified
at
the initial inspection.
The
Charterer shall notify the Owners in writing of any defect and/or non-compliance
and the Owners shall rectify such defect and/or non-compliance as soon
as is
reasonably practical, but in any event no later than 30 days after receipt
of
Charterers' notice. All cost and time lost directly in rectifying such
defects
and/or non-compliances shall be for Owners' account.
If
the
Owners do not rectify defects and/or non-compliances within 30 days without
reasonable cause after receipt of Charterers' notice, the Charterer shall
have
the right
| (a) |
to
put the vessel off hire forthwith, until such time as the Oil
Major
approval has been reobtained;
and/or
|
| (a) |
to
cancel this charter.
|
Such
option shall be declared within 10 working days of the expiry of this 30
day
period, otherwise this CP remain in force.
Neither
the exercise, the non-exercise, nor anything done or not done in the exercise
or
non-exercise
of such right by the Charterer, shall reduce the responsibility of the
Owner or
the master to the Charterer or in respect of the vessel and her operation,
nor
increase the Charterers' responsibilities to the Owner or for the same.
CLAUSE
86. ISM Code Compliance Clause
Owners
undertake that from the date of coming into force of the international
management code for the safe operation of ships and for the pollution prevention
(the international safety management (ISM) code) (the ‘ISM’ code) on the
1st
July
1998, and for the duration of this charter, the vessel and "the company"
(as
defined in the ISM code) shall comply with the Requirements of the ISM
code. The
Charterers may at any time with advance notice request an inspection of
the
relevant document of compliance and/or Safety Management certificate, and
upon
receipt of such a request the Owners shall forthwith provide the
same.
21
MT
SHINYO ▇▇▇▇▇▇▇
TIME
CHARTER PARTY DATED AUGUST 28TH, 2006
Without
prejudice to any rights or remedies available to the Charterers under the
terms
of this charter or under English Law, in the event of a breach of the above
undertaking, any loss, damage, expense or delay following therefrom shall
be for
the Owners' account.
CLAUSE
87. ITWF Clause
Owners
undertake to ensure that the terms of employment of the vessel's staff
and crew
will always remain acceptable to the International Transport Worker's
Federation.
CLAUSE
88. Unique Identifier Clause
If
Charterers require the vessel to discharge at a port within the jurisdiction
of
the US customs service, the master shall insert Charterer’s unique identifier
Code (SCAC Code) as referred to in Clause 60(iv) hereinabove, on each ▇▇▇▇
of
Lading accompanying a shipment of imported cargo in accordance with US
customs
regulations (19 cfr parts 4 and 178). Charterer shall provide Owner on
request
with details of their unique identifier in respect of any cargo
carried.
CLAUSE
89. Oil Spill Response and Emergency Contacts Clause
Owners
are to advise Charterers of names of qualified individuals for OPA response.
And
Owners personnel together with the relevant telephone/fax/telex numbers
who may
be contacted on a 24 hour basis in event of oil spill or emergency
CLAUSE
90. Casualty Reporting Clause
In
the
event that the vessel is involved in an accident the casualty emergency
response
should be applied. This instruction is to be followed in the case of an
emergency such as a fatality or multiple serious injuries, collision, grounding,
fire, pollution or other incident where immediate assistance is required
or
adverse reaction from authorities, media, non governmental organisations
(ngo's), or the general public may be expected. The aim of the procedure
is to
speed up the response to an emergency, with benefit to all
concerned
22
MT
SHINYO ▇▇▇▇▇▇▇
TIME
CHARTER PARTY DATED AUGUST 28TH, 2006
Notification
by either telephone or telex should contain
the following information:
Name
of
ship
Nature
of
emergency (collision, grounding etc.)
Position
of ship (lat. Long., port)
Nature
and extent of damage
Fatalities
and/or personal injuries - if any
State
of
sea or weather.
Name,
nationality and type of other ship(s) involved
In
the
event of a cargo spill the message should include the local time, date
and
location of the spill.
Name
of
the Owner of the installation (if in port) and whether at a jetty, cbm,
sbm
etc
Type
of
oil e.g. crude, black, white, lubes etc.
Cause
if
known e.g. overflow, hose burst defective shore pipeline, hull defect,
leaking
ships valves etc
Estimated
quantity spilled
Estimated
rate of spill if continuing
Whether
cleanup is being attempted
Whether
towage is required
Any
other
relevant comments
Time
of
origin of each report
The
foregoing casualty reporting obligations shall be in addition to any such
obligations which Owners may require of the master in the event of a
casualty.
CLAUSE
91. Cargo Retention Clause
If
during
a voyage under this charter any quantity of cargo remaining on board the
Vessel
(‘ROB) upon completion of discharge is judged by an independant surveyor
appointed by Charterers to be liquid and pumpable, or if Charterers can
show
that the ROB would have been liquid and pumpable if Owners and/or Master,
officers and crew had followed Charterers’ instructions for the management of
the cargo, then Charterers shall be entitled to claim any directly related
costs
or damages relating to such quantity of cargo remaining on board provided
that
such ROB is brought to by fault or obmission on part of Owner, Master and/or
Ship’s Crews.
23
MT
SHINYO ▇▇▇▇▇▇▇
TIME
CHARTER PARTY DATED AUGUST 28TH, 2006
CLAUSE
92. Vessel Tracking System Clause
Charterers
may from the time of fixing until completion of the charter period employ
an
Inmarsat C tracking system on the vessel. All registration and communication
costs relating to this tracking system will be for Charterer’s account.
Charterers will advise when the system is operative and confirm termination
on
completion of the charter. Owners to supply the following information,
which
will form part of this clause:
Inmarsat
C number (9 digits beginning with 4):
Manufacturer,
make, etc.:
Model
Number:
Terminal
S/W version if known:
Clause
93. TI Pool Entry Clause
Dosco
will consider to enter the TI Pool for at least one year on the basis of
1) excluding USWC on redelivery from the Pool and 2)
simultaneously upon delivery after the last discharge in March 2007
and vessel's delivery from owners to Dosco. Owners to provide
pool agreement existed between TI and Shinyo ▇▇▇▇▇▇▇ Ltd. for their
review.
Referring
to Clause 18, for easier calculation, while the vessel is in the TI Pool,
the
profit share is simply based on the actual Pool earning for the vessel
over and
above USD44,000. Once and if the vessel exits from the Pool, then the average
of
the BITR profit share formula will still be applicable.
Clause
94. Profit Share Clause
Market
evaluation based on BITR “basket” average (25 pct weight each route) AG/USG,
AG/SPORE, AG/JPN, WAF/USG (BITR 1,2,3,4)
The
BITR
average from each route is to be calculated based on each published day
for the
quarterly period and then averaged. The average is then to be input into
an
agreed standard voyage calculation using Worldscale flat rate as specified
on
each route, consumption as per CP, port charges, and average bunker
price.
24
MT
SHINYO ▇▇▇▇▇▇▇
TIME
CHARTER PARTY DATED AUGUST 28TH, 2006
Actual
calculation to be agreed, but this is the concept:
1.
Calculation to be based on round-trip, as per BITR wordings
2.
One
waiting day only, however, 2.5 pct seamargin to be included in
calculations.
3.
250
MTS additional IFO consumption to be included for discharge/COW/IGS
etc.
4.
Laytime 96 hours
5.
No
additional port time in excess of laytime, except 12 hours allowance for
bunkering.
6.
Ports
involved on each route to be in accordance with BITR routes.
7.
Ports
charges to be included, and reviewed every six months.
8.
PLATTS
daily bunker quotes to be used basis quarterly average bunker price quote
Fujairah (for all AG routes) and Philadelphia plus 10 pct (for WAF
route)
9.
Cargo
quanitites as per BITR wordings.
10.
Additional specifications including fixing other parameters for voyage
expenses
(to avoid any misunderstandings) to be mutually agreed.
The
four
timecharter equivalents then to be averaged. The average timecharter rate,
less
the base of USD44,000 is then to be distributed 50/50 spilt charterers/owners
on
semi annual basis. However, profits to be distributed on quarterly basis
and paid provisionally within the following quarter. Such
distribution/payment shall be adjusted by next quarter, i.e., off set between
two quarter results so the average will become semi annual. Each semi annual
settlement is then final, i.e. an average daily return under USD 39,000
or as
such a loss, does not get carried forward to the next half year.
CLAUSE
95. Commission Clause
1.25%
address commission to Dosco and 1.25% brokerage commission to Seagos are
payable by owners to Dosco and Seagos on the actual amount of monies earned
and
as paid.
CLAUSE
96. Private and Confidential Clause
Both
parties shall keep this fixture and eventual charter private and
confidential.
END
25
M/T
SHINYO
▇▇▇▇▇▇▇ / DOSCO
TIMECHARTER
PARTY DATED AUGUST 28TH, 2006
ADDENDUM
No. 1
It’s
mutually understood and agreed between Shinyo ▇▇▇▇▇▇▇ Limited. (Suite
801,
8th
Floor,
▇▇▇▇▇ ▇▇▇▇▇,▇, ▇▇▇▇▇▇▇▇ ▇▇▇▇, ▇▇▇▇▇▇▇, ▇▇▇▇ ▇▇▇▇ )
as
Owners of the above subject vessel and Dalian Ocean Shipping Company
(29 Qiqi
Street Zhongshan District ,Dalian, China) as Charterers under the above
captioned Timecharter Party that:
Owners
will contribute USD 75,000 from the first profit share distribution
to them on
the subject vessel to Charterers in consideration of their first month
earnings
on Shinyo Navigator.
All
other
terms and conditions as per C/P
| Shinyo ▇▇▇▇▇▇▇ Limited | Dalian Ocean Shipping Company | ||
| Authorized Signature | Authorized Signature | ||
| /s/ ▇▇▇▇ ▇▇▇▇▇ | /s/ Illegible | ||
|
Director |
Managing Director |
M/T
SHINYO ▇▇▇▇▇▇▇
TIMECHARTER
PARTY DATED AUGUST 28TH, 2006
ADDENDUM
No. 2
It’s
mutually understood and agreed between Shinyo ▇▇▇▇▇▇▇ Limited,
as Owners of the
subject vessel and Dalian Ocean Shipping Co. as Charterers under
the above
captioned Timecharter Party that:
Line
108
of Shelltime 4 shall be amended as--
HSBC
Bank, USA (Swift: ▇▇▇▇▇▇▇▇)
For
credit to DVB Group Merchant Bank (Asia) Ltd
(Swift:
DVKBSGSG)
Account
no. 000.305.189
In
favour of: Shinyo ▇▇▇▇▇▇▇ Limited
Earnings
Account No.: 190.000.5719
with
message "Charter hire for m/t Shinyo ▇▇▇▇▇▇▇"
All
other
terms and conditions as per Charter Party.
| Shinyo ▇▇▇▇▇▇▇ Limited | Dalian Ocean Shipping Company | ||
| Authorized Signature | Authorized Signature | ||
| /s/ ▇▇▇▇ ▇▇▇▇▇ | /s/ Illegible | ||
|
Director |
Managing Director |
M/T
SHINYO ▇▇▇▇▇▇▇ / DOSCO
TIMECHARTER
PARTY DATED AUGUST 28TH, 2006
ADDENDUM
No. 3
It's
mutually understood and agreed between Shinyo ▇▇▇▇▇▇▇ Limited.
(Suite ▇▇▇, ▇▇▇
▇▇▇▇▇, ▇▇▇▇▇ ▇▇▇▇▇,▇, ▇▇▇▇▇▇▇▇ ▇▇▇▇, ▇▇▇▇▇▇▇, ▇▇▇▇ ▇▇▇▇) as
Owners of the above
subject vessel and Dalian Ocean Shipping Company (29 Qiqi Street
Zhongshan
District ,Dalian, China) as Charterers under the above captioned
Timecharter
Party that:
1)
The
delivery time of the subject vessel to be retroactively dated
to 17 February
1700 hours GMT at Rotterdam.
2)
This
present voyage, which is about 50/51 days voyage from Rotterdam
to Singapore
(where is estimated to be open on or about 9 April,2007) shall
be in accordance
with C/P Line 86 as if the Charterers are the TI member instead
of Owner
-
The
distribution of the profit share from the 50/51 days voyage should be
based on the figures which the subject vessel’s TI pool earnings actual figures.
Owners should provide same in due course.
3) Owners
should provide Singapore physical delivery notices to Charterers
basis 30
days/20 days/10 days approximate and 7/5/3/2/1 definite as
well as daily
updates.
4)
Clause
93 - TI Pool Entry Clause to be deleted in its entirety.
All
other
terms and conditions as per C/P
| Shinyo ▇▇▇▇▇▇▇ Limited | Dalian Ocean Shipping Company | ||
| /s/ ▇▇▇▇ ▇▇▇▇▇ | /s/ Illegible | ||
|
Authorized Signature |
Authorized Signature |
||
| Director | Managing Director | ||
| March 12th, 2007 | March 12th, 2007 |