EXERCISE OF OPTION TO EXTEND AND AMENDMENT NO.1 TO CHARTER PARTY DATED OCTOBER 6, 2005 (THE “CHARTERPARTY”) BETWEEN ANN TANKER CORPORATION (THE “OWNERS”) AND DHT ANN VLCC CORP. (THE “CHARTERERS”) FOR THE VESSEL OVERSEAS ANN
Exhibit
10.3
EXERCISE
OF OPTION TO EXTEND AND
AMENDMENT
NO.1
TO
CHARTER
PARTY DATED OCTOBER 6, 2005
(THE
“CHARTERPARTY”)
BETWEEN
▇▇▇
TANKER CORPORATION (THE “OWNERS”)
AND
DHT ▇▇▇ VLCC CORP. (THE “CHARTERERS”)
FOR
THE VESSEL
OVERSEAS
▇▇▇
Pursuant
to clause 99 of the Charterparty, the Charterers hereby declare, as of November
26, 2008, the exercise of the first 12 months of the option period which shall
commence on
April 17,
2012 at 0001 hours GMT and end on April 16, 2013 at 2400 hours GMT (the “Option Period”).
As of the
date of this agreement, the Owners and the Charterers hereby amend the terms of
the Charterparty as follows:
(1) Notwithstanding clause
99, the rate during the Option Period shall, at the option of the Charterers,
be:
|
a)
|
usd
38,500 per day during the period
from April 17, 2012 at 0001 hours GMT until October 16, 2012 at 2400 hours
GMT and usd 38,800
per day during the period from October 17, 2012 at 0001 hours GMT
until April 16, 2013 at 2400 hours;
or
|
|
|
b)
|
the
market rate as determined by the Association of Shipbrokers Agents and
Agents Tanker Broker Panel plus five percent provided, however, that the rate
payable during the Option Period shall never be less than usd 33,500 per
day.
|
(2)
Except as expressly amended by this agreement, the terms and conditions of the
Charterparty remain unchanged and in full force and effect including, without
limitation, the profit sharing arrangement between the Owners and the
Charterers.
January
15, 2009
| For ▇▇▇ Tanker Corporation | For DHT ▇▇▇ VLCC Corp. | |||
|
By:
/s/ Ole ▇▇▇▇▇ ▇▇▇▇▇▇
|
By:
/s/ Mats ▇▇▇▇▇▇▇▇
|
|||
|
Name: Ole
▇▇▇▇▇ ▇▇▇▇▇▇
|
Name: Mats
▇▇▇▇▇▇▇▇
|
|||
|
Title: Vice
President
|
Title: Senior
Vice President
|