EX-4.38



 Exhibit 4.38 

CERTAIN MATERIAL (INDICATED BY THREE ASTERISKS) HAS BEEN OMITTED FROM THIS DOCUMENT PURSUANT TO A REQUEST FOR CONFIDENTIAL TREATMENT. THE
OMITTED MATERIAL HAS BEEN FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION. 
 Term Storage Agreement Between 

Euro Tank Terminal B.V. and Vitol S.A. (“Agreement”) 
  


	1.	Agreement number 

  

			
	No.:		VITOLFO-ETT-2014-01
		
	Effective Date:		1 October 2014

  

	2.	This Agreement is made by and between 

 Euro Tank Terminal B.V. a private company with
limited liability (besloten vennootschap met beperkte aansprakelijkheid) incorporated in the Netherlands and having its registered office at Moezelweg 151, 3198 LS, Rotterdam, the Netherlands {the “Company”); 

and 
 Vitol S.A. a private
company with limited liability, incorporated in Switzerland and having its registered office at Boulevard du Pont-d’Arve 28, 1211 Geneva 4, Switzerland (the “Client”). 

The Client and the Company may be referred to herein individually as a “Party” and collectively as the
“Parties”. 
 Whereas 
  

	 	a.	The Company owns and operates the Terminal and is able to provide storage, handling and other terminal services at the Terminal; 

  

	 	b.	The Client wishes to store its products at the Terminal and receive certain services and access to specific infrastructure at the given capacities; 


 

	 	c.	The Parties intend to set forth the terms and conditions for the services in this Agreement. 


NOW, THEREFORE, in consideration of the mutual promises herein contained, Parties agree as follows: 

 

	3.	Storage Location 

 The terminal is located in the Port of Rotterdam with harbor no. 5610
and registered address at van Moezelweg 151, 3198 LS Rotterdam, the Netherlands (“Terminal”). 
  

	4.	Storage Period: 

  

			
	Duration:		3 years
		
	Start Date:		1 October 2014
		
	End Date:		30 September 2017


  
 *** Certain information in this
document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 









	4.1	This Agreement shall enter into force on the Start Date as mentioned above and shall continue for a duration of three (3) years until the End Date as mentioned above. 


At the expiry of this period the Client shall have first right to the contracted capacity. Six (6) months prior to expiry both Parties
shall negotiate the terms and conditions for a contract renewal for a period to be mutually agreed upon. The agreement for a contract renewal needs to be reached at least three (3) months prior to the end of the contract. 

 

	5.	Product 

  

	5.1	Parties agree to handle fuel oil. The Client shall provide the Company with the (M)SDS, REACH number and the products specifications as stipulated in Appendix 2 and Clause 10, prior to the each delivery to the Terminal.
The Products will be delivered into parcels of minimum 1000 Mt each. 

  

	5.2	Client ensures to comply with the provisions of the European Regulation number 1907/2006 of 18 December 2006, as amended from time to time with regards to the Registration, Evaluation, Authorisation and Restriction
of Chemical substances (“REACH Regulation”) and shall provide the Company with the necessary information related to such compliance and the Product 

  

	6.	Contractual Capacity 

 The Company shall provide to the Client a total storage capacity
of 225.148 m3 in the following dedicated storage tanks (“Contractual Capacity”). 
 Products will be stored on a dedicated basis.

  

															
	 Tank
	 	 Contractual

Capacity (m3)
	 	 	 Net capacity

(m3)
	 	 	 Roof Type
	 	 Product
	 	 Min flash

	 TK 01
	 	 	1.076	  	 	 	3.969	  	 	Fixed	 	FO	 	>55
	 TK 02
	 	 	4.082	  	 	 	3.974	  	 	Fixed	 	FO	 	>55
	 TK 03
	 	 	14.880	  	 	 	14.547	  	 	Fixed	 	FO	 	>55
	 TK 04
	 	 	14.870	  	 	 	14.535	  	 	Fixed	 	FO	 	>55
	 TK 05
	 	 	62.340	  	 	 	61.539	  	 	Fixed	 	FO	 	>55
	 TK 06
	 	 	62.430	  	 	 	61.697	  	 	Fixed	 	FO	 	>55
	 TK 07
	 	 	62.470	  	 	 	61.703	  	 	Fixed    	 	FO    	 	>55    


 The tanks are Class 3, meaning suitable for handling of a product with a flashpoint >55°c and
designed for a maximum temperature of 80 Celsius Degrees (“°c”). 
  

	7.	Means of Delivery 

 Receipt of Product: ex-seagoing vessel, barge or pumping over 

Re-delivery of Product: into seagoing vessel, barge or pumping over 

  
 *** Certain information in this
document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 









	8.	Rates (expressed in Euro) 

 payable in respect of Contractual Capacity and from Start
Date. 
  

					
	a.		Tank rental rate		€ [***]
			
			Charged per cubic meter (“m3”) of contractual capacity per month or part thereof Tank rental rate includes:		


  

	 	•	 	Delivery from seagoing vessel, barge or pumping over (minimum parcel size 1000 metric ton (“Mt”) 	 

  

	 	•	 	Redelivery into seagoing vessel, barge or pumping over (minimum parcel size 1000 Mt) 

  

	 	•	 	Storage during the Storage Period 

  

	 	•	 	Standard customs documentation on ship’s departure at (he Terminal (B/L, AAD, T1 .timesheet and document receipt) 	 

  

	 	•	 	[***] free throughputs in m3 at 15°c of work capacity per period of [***] (calculated as 1 import and export of the net tank capacity) 	 

  

	 	•	 	Use of Vapour Recovery Unit (“VRU”)** 

  

	**	VRU costs are included in the Tank rental rate. 

  

					
	b.		Additional Throughput Surcharge, per m3 at 15°c		€ [***]
			
			Charged on the difference, expressed in m3 at 15°c, between the actual throughput per year and the free throughput mentioned in Clause 8 (a), per m3.		
			
	c.		Surcharge for pumping over within the Contractual Capacity, per m3 at 15°c		€ [***]
			
			Per m3 at 15°c pumped over from shoretank to shoretank within the Terminal. A minimum charge based on [***] m3 per operation shall apply		
			
	d.		Homogenisation Surcharge per hour (in shore tank)		€ [***]
			
			Charged for the use of mixers or air-spiders or pumparound.		
			
	e.		Board-to-board Surcharge		
			
			Minimum quantity of [***] MT per parcel, per m3 at 15°c.		
			
			Board - Board (at the terminal)		€ [***]
			
	f.		Heating products in tank		
			
			Maintaining temperature		€ [***]
			
			Rate (expressed in Euro/m3/day) Charged on the average inventory in tanks (in m3) during the period expressed in days, when the service was rendered.		
			
			Heating up temperature		€ [***]
			
			Rate (expressed in Euro/m3/°c)		
			
			Charged on the volume in tanks (in M3) to be heated		



  
 *** Certain information in this
document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 









					
			
	g.		Additional Services (per document)		€ [***]
			
			Supply of Certificate of Origin (not counter-signed by Chamber of Commerce), EUR1, Form A, INF3, ATR		
			
	h.		Water on Board		
			
			In case water is found on board or in tank after discharge, water will be drained, removed and disposed of at the cost charged by the contractor with a surcharge of [***]% for coordination, handling and administration costs.		
			
			 All rates exclude:
  

VAT and any other taxes, levies, fees, quay dues, port charges, and any other third party fees such as, but not limited to, the Port Authority, Customs,
ship’s representative and cargo representative. The Company will invoice these fees to the Client on [***] basis without any mark-up or fee charged by the Company.
		


  

	9.	Terms of Operation 

 Product movement planning including quality and quantity must be
clearly identified and detailed by the Client in writing and in advance to the Company for execution. The Company shall not be responsible for any effect of Product movement planning whatsoever. In implementing the Product movement planning, the
Company shall follow the instructions of the Client, but the Client should always observe and consider the quality and quantity requirements of tank heels bottoms i.e. ROB. 
  

	10.	Product Acceptance procedure 

 Upon nomination of a vessel/barge for a discharge
operation, the Client shall provide to the Company certificates of quality including actual specifications of the Product being delivered prior to the vessel/barge’s arrival. Such aforementioned certificates shall at least contain the
following: 
  

	 	•	 	Density 

  

	 	•	 	Flash point 

  

	 	•	 	Sulphur content 

  

	 	•	 	Viscosity 

 Before discharging the following specifications shall be provided by the Client:

  

	 	•	 	Water content 

  

	 	•	 	Pour Point 

  

	 	•	 	H2S 


  
 *** Certain information in this
document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 








 The Product shall meet all of the following product specifications: 

 

					
	Specification	  	Max/Min	  	Method
	Viscosity at 50 C*	  	850 mrn2/s Max	  	ASTM D 445
	Flash Point	  	Min 55C	  	ISO 2719/B
	Pourpoint	  	Actual temperature Min 15C over pourpoint	  	ISO 3016
	Temperature	  	< 80 °c	  	
	H2S	  	Max 5ppm in the liquid phase	  	

 The Product will not be accepted when it is warmer than 5°C below flashpoint 

If the Company requests all or any of the abovementioned specifications and is not properly informed by the Client, the Company shall have the
right to refuse discharge. Furthermore, If the Product does not meet the abovementioned product specification, the Company shall have the right to refuse discharge. Any deviations from the abovementioned products specifications shall be agreed upon
by mutual agreement between the Parties. 
  

	11.	Tank Cleaning 

 The Company undertakes that the tanks are prepared for their respective
Product prior to the Start Date. On the End Date the tank shall be re-delivered in a state suitable for storage of the same type of product by the Client. If required, cleaning shall have taken place prior to the End Date. The Company and the Client
shall agree at least two (2) months before the End Date on the best program and procedure to ensure that the cleaning operations are completed by the End Date. The tank rental rate under Article 8 (a) shall stop the day after the tank has
been emptied by the Client. The costs involved in cleaning the tanks to their original condition in preparation for the next service and the disposal of wastes if any are to the Client’s account. The Company shall appoint an independent
surveyor within reasonable time to determine whether the respective tanks are clean and suitable for the next service. In the event the tanks are not approved by the independent surveyor, the Client shall clean the tanks until it is approved by the
independent surveyor. The tank rental rate under Article 8 (a) shall be payable by the Client until the independent surveyor appointed by the Company has approved the tanks for the next service. A copy invoice of the cleaning company will be
attached to the invoice provided to the Client with a surcharge of a reasonable internal project costs, specified on the invoice. 
  

	12.	Contractual Loss 

 Contractual loss during operations and storage will be actual loss as
determined after unloading and loading operations on basis of the shore tanks gauging. Any Product losses will be to the account of the Client. 

Any complaint in respect of deficiency of quantity or of variation of quality must be notified in writing by the claiming Party within one
hundred and twenty (120) days from the day at which such deficiency or variation is discovered. 

  
 *** Certain information in this
document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 








 Following such notification, the claiming Party shall provide a fully documented claim within
ninety (90) days of (he aforementioned notification. If the claiming Party fails to give such notice or submit a fully documented claim within the aforesaid time limits, the claim shall be deemed to have been waived, and any liability on the
part of the non-claiming Party shall be considered to have lapsed. 
  

	13.	Rules of Engagement 

 The Client agrees and acknowledges the Rules of Engagement of the
Terminal as specified in the following appendices: 
  

			
	Draft restrictions		: Ref. Appendix 1
		
	Opening hours of the Terminal		: Ref. Appendix 1
		
	Nomination and programme information		: Ref. Appendix 2
		
	Customer Service contact details		: Ref. Appendix 3
		
	First Come First Serve policy		: Ref. Appendix 4

  

	14.	Indexation /Escalation 

 As per the 1st of January of each year after the Start Date, the
Rates mentioned in Article 8 shall be increased with the percentage based on the Dutch Consumer Price Index figure (CPI) and defined by the Dutch Bureau of Statistics (CBS) reflecting the inflation figure in the Netherlands from time
to time. 
  

	15.	Rates/Conditions are Exclusively for the Client 

 The Client shall not be authorised to
cede or subcontract the Contractual Capacity as well as any right granted by this Agreement without the Company’s prior written approval. 

Sub-leasing of Clients tank to a third party 

In case the Client wishes to sub-lease one or more of the tanks mentioned in Clause 6, the Client may request the Company to do so on its
behalf. In this case the Company shall at its discretion approach potentially interested parties and negotiate a sub-lease agreement acceptable to the Client for the tank and period agreed with the Client provided that: 

 

	 	(i)	the Client remains fully responsible for the performance of the sublease agreement and especially the payment of the rates outlined in Article 8; 


 

	 	(ii)	the sublease termination date is always earlier than the termination date of this Agreement; and 

  

	 	(iii)	the sublease does not comprise any option to renew or extend or increase the duration or the capacity or any conditions referred to in the sub lease agreement. 


The Client is not allowed to enter into any direct negotiations or discussions concerning its subleased tanks with a third party and the
Company is under no obligation to accept any third parties as a sub-lessee. In case the Company is not able to find a sub-lessee on its own accord the Client may propose a suitable alternative, approval of which shall not be unreasonably withheld.


  
 *** Certain information in this
document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 








 Any incremental revenues of a sub-lease arrangement shall be [***] between the Company and the
Client. 
  

	16.	Insurance 

  

	 	a)	Title to and risks of the Products will remain with Client at all times. 

  

	 	b)	Client shall be responsible for insuring the Product under this Agreement at their risk and account. 

  

	 	c)	Both Parties shall be responsible for procuring third party liability insurance to cover their respective legal liabilities arising from their responsibilities under this Agreement. 


 

	17.	Invoicing and payment 

 The Tank Rental fee will be invoiced monthly and will be issued
at the beginning of each calendar month, in advance. All other charges mentioned in Clause 8 (pumpovers, homogenization, additivation, additional throughput) and for any other services rendered will be invoiced upon expiry of the month in which the
respective service was rendered. Additional throughput as per Clause 8 (b) shall be invoiced on a monthly basis once the free throughput allowed under this Agreement has been achieved. Invoices are payable in the currency as invoiced and within
fifteen (15) days after the date of invoice and before final lifting of the Product. 
  

	18.	General Terms and Conditions 

 The General Conditions for Tankstorage in the Netherlands
filed of record in the Dutch, English and German languages at the Registry of the Arrondissements Courts at Amsterdam, Dordrecht and Rotterdam on 21st December 1992 (“General Conditions”) and the jetty conditions of the association of
independent tank storage companies (VOTOB) filed of record at the Registry of the Arrondissements Courts in Amsterdam, Dordrecht and Rotterdam (“Jetty Conditions”) shall be applicable to this Agreement. In the event of any conflict or
inconsistency between this Agreement and the General Conditions and Jetty Conditions, the terms and conditions of this Agreement shall prevail. 
  

	19.	Modification of the General Conditions 

 The provisions set forth in the Agreement may be
modified by a decision of the Company in accordance with technical or legal requirements. In this case the Company shall endeavour to give at least three (3) months’ notice, except in the event of urgency in particular regarding
regulations and safety measures. 

  
 *** Certain information in this
document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 









	20.	Notices 

  

	20.1	All notices and communications under this Agreement are to be sent to the Parties by, courier or registered mail to the following address: 


In the case of the Company, to: 
  

			
	Attention:    		Jack de Moel
		
	Title:		Managing Director
		
	Address:		Moezelweg 151
			3198 LSRotterdam
			The Netherlands

 In the case of the Client, to: 
  

			
	Attention:		
		
	Title:		
		
	Address:		

  

	20.2	Any notices, approvals or consents shall be effective only upon actual receipt: 

  

	 	(a)	in the case of registered post, on the day on which it is received and acknowledged at that Recipient Party’s address. 

  

	 	(b)	in the case of personal delivery, at the time it is received and acknowledged at the Recipient Party’s address. 

  

	20.3	Notwithstanding the above, communications between the Parties via email are permitted and shall be sent to the email addresses as notified by the Parties from time to time provided that any request for approval or
consent by the recipient Party or notice of breach sent by email must be followed by a letter to the other Party in accordance with this Article 21.2 

  

	21.	Law and jurisdiction 

 This Agreement shall be governed and construed in accordance with
the law of the Netherlands. Any dispute arising from or connected with this Agreement {including a dispute regarding the existence, validity or termination of this Agreement or the consequences of its termination), shall be referred to and finally
resolved by the Courts of Rotterdam in the English language. The language of this Agreement is English. All communications including notices under and in respect of this Agreement shall be in the English language. 

This Agreement may be executed in any number of counterparts and delivered by electronic transmission, each of which so delivered shall be
considered an original counterpart, but all such counterparts together constitute but one and the same agreement. 
 (signature page to
follow) 

  
 *** Certain information in this
document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 








 IN WITNESS WHEREOF the Parties hereto have set their hands the day and year first above written. 

 

					
	and on behalf of				For and on behalf of
			
	Euro Tank Terminal B.V.				Vitol S.A.
			
	 /s/ Jack de Moel
				 /s/ Roland J. Favre

			
	Jack de Moel				Roland J. Favre
			
	Managing Director				Director
			
	Date: 5 January 2015				Date: 5 January 2015


  
 *** Certain information in this
document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 








 Appendix 1 

Jetties available for Fuel Oil loading and discharge operations 
  

									
	 Jetty No.
	  	 Draught (m)
	  	 Max Beam (m)
	  	 Min/Max LOA (m)
	  	 Operational

Date

	 Sea going vessels berths:
	  		  		  		  	
					
	 Jetty “Caland” outside Center Max freeboard 5,26 m x 23.78 m
	  	20.95	  	58(*)	  	180 – 360	  	Operational
					
	 Jetty “Caland” outside East Max freeboard 2.29 m x 20.54 m
	  	20.75	  	58	  	174 – 260	  	Operational
					
	 Jetty “Caland” outside West Max freeboard 2.29 m x 20.54 m
	  	17.85	  	58	  	145 – 260	  	Operational
	
	 (*)      If “Caland” outside Center is used, “Caland” outside East is
not available and “Caland” outside West will be restricted.

					
	Jetty 1 Max freeboard 2.29 m x 20,54 in	  	16.00	  	45	  	80 – 260	  	***
					
	 Barges berths
	  		  		  		  	
					
	 Quay East Max

freeboard 7.00 m
	  	8.52	  	not restricted    	  	max 145(**)    	  	Operational   
					
	 Jetty “Caland” inside East
	  	6.00	  	22	  	135	  	Operational
					
	 Jetty “Caland” inside West
	  	5.00	  	12	  	135	  	Operational
					
	 Quay West
	  	4,62	  	22	  	135	  	Operational

  

	(**)	If Quay East barge berth is used tip to max length, Quay West barge berth will be restricted. 


	(***)	Exact date when Jetty 1 will be back in service to be confirmed. 

  

	1.	Above staled draughts are general figures. Contact the local harbour authorities for the latest draught restrictions. 


Minimum vessel capabilities 
 Vessels calling at the Terminal
with a DWT tonnage of more than 25,000 shall be able to maintain a minimum pumping or receiving rate of 1000 m3 per hour or 7 bar at the ships manifold. 

Vessels calling at the Terminal with a DWT tonnage between 10,000 and 25,000 shall be able to maintain a minimum pumping or receiving rate of 800 m3 per hour

 Vessels calling at the Terminal with a DWT tonnage between 5,000 and 10,000 shall be able to maintain a minimum pumping or receiving rate of 600 m3 per
hour. 
 Vessels calling at the Terminal with a DWT tonnage lower than 5,000 shall be able to maintain a minimum pumping or receiving rate of 400 m3 per
hour. 

  
 *** Certain information in this
document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 








 In the event that the abovementioned performance criteria are not met by a vessel, the Terminal shall have the
right to unberth such vessel if it is causing delays to other vessels’ operations. 
 Surveying 

Before loading and unloading of vessels the Principal must appoint an independent surveying company. When failing to do so the Terminal may nominate one, on
behalf of the Principal and all costs will be for account of and invoiced to the Principal. 
 Working hours and overtime: 

For operations the Terminal is working on a 365/7/24 basis 
 For
emergency please contact key-personnel at below stated phone numbers. 
 Emergency contact details Key-personnel: 

 

			
	General Manager		: J. de Moel
		
	E-mail		: jdm@ett.vtti.com
		
	Tel		: 06 - 50 22 55 86
		
	Terminal Manager		: C. Saaltink
		
	E-mail		: cls@ett.vtti.com
		
	Tel		: 0181 - 24 00 24
		
	Manager Commercial		: J.L.D. Koomen
		
	E-mail		: jpk@vtti.com
		
	Tel		: 06 - 23 89 76 46


  
 *** Certain information in this
document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 








 Appendix 2        Nomination and programme information

 NOMINATION AND OPERATIONAL PROCEDURES 

All activities performed by Customer Services (CS) and Operations, involving movement of product physically or administrative at the Terminal are backed by a
formal order from the customer. 
 Orders performed at the Terminal: 
  

			
	AST		Administrative Stock Transfer
	BLE		Blending
	CLN		Tank cleaning
	DBA		Discharge barge
	DTR		Discharge truck
	DVE		Discharge vessel
	HEA		Heating
	HOM		Homogenising
	IMP		Importation
	ITS		In-tank-sale
	LBA		Load barge
	LVE		Load vessel
	MAI		Maintaining
	SDC		Stock density correction
	SER		Generic services
	STR		Stock transfer
	TTT		Tank-to-tank transfer
	WAS		Washing/ treatments
	WDR		Water draining

 Ail load or discharge nominations and other orders are to be received in writing via e-mail to the attention of Customer
Services. 
 Customer Services receives the nominations/orders and enters these into TOMCAT. This is the terminal enterprise resource program. 

Nominations for loading or discharging should at least include the following: 
  

	 	a.	Type operation: Loading or Discharging, Tank-to-tank transfer 

  

	 	b.	Name of vessel/barge 

  

	 	c.	Name of tank(s) involved 

  

	 	d.	Estimated Time of Arrival (ETA) 

  

	 	e.	Name product/ quality 

  

	 	f.	Quantity per tank in m3 L15 or mt (vac) 

  

	 	g.	Surveyor appointed 

  

	 	h.	Customs status 

  

	 	i.	Document instructions: draft B/L one working day prior to departure. 

  

	 	j.	In case load nominations: receiver details, Name -i- Full address, excise number 

  

	 	k.	In case discharge nominations: Analyses of product before discharging, SDS 

 Customer Services approves
nominations received based on the above. If one or more items are missing, the customer is informed accordingly and the order is not further processed. Once the missing items are received the order is processed. 

Before handing over the nomination to Operations the order is checked again. When all relevant information is inserted into TOMCAT, the order is activated.

 From this moment Operations is able to start the discharge or load operation. 

  
 *** Certain information in this
document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 








 Nomination and Operational procedures to include out of hours order amendments, not limited to but including
additional and/or changes to barge and vessel nominations, as well as additivation & tank manipulations/mixing. 

  
 *** Certain information in this
document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 








 Appendix 3        Customer Service contact details

 Please for nominations, programmes, instructions or changes use following general Customer Service e-mail
address: 
 xcustomerservice@ett.vtti.com 
 Outside
office hours you can contact: 
 The person on duty 

+31205872162 
 Or 

Hendrik Wijkstra 
 Mobile +316 13 03 50 55  

hwl@ett.vtti.com 
 or 

Ron van der Graaf 
 Mobile +316 15 83 00 37 

rdg@ett.vtti.com 
 or 

John de Ruyter 
 Mobile +316 52 84 79 68  

jdr@ett.vtti.com 
 or 

Gulden Sahin 
 Mobile +316 55 72 36 93  

gsa@ett.vtti.com 
 or 

Marco Nieuwold (custom affairs) 
 Mobile +31 6 21 71 14 76 

 mnw@ett.vtti.com 

  
 *** Certain information in this
document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 








 Appendix 4        First Come First Served policy (FCFS)

 FIT operates a First Come, First Served (FCFS) policy based upon the following procedures: 

 

	1.	Operation Orders are to be received in writing. Orders will contain Vessel Name / Cargo / Quantity / ETA / Operational Details. Changes to Operation Orders shall be made in writing and shall be accepted subject to the
condition that other operations remain substantially unaffected by the proposed changes. 

  

	    	Discharge / Reload Operations are acceptable but must be nominated as two separate operations. 

  

	2.	Berthing priority is allocated on basis of valid NORT basis arrival at Rotterdam Anchorage. When the Operation Order is received after vessel has tendered NOR the time of acceptance of the Operation Order shall
determine the allocation of position in the berthing queue. 

  

	3.	4 hours prior to planned operation the Operation Order shall be checked to ensure that: 

  

	 	(i)	Tank(s) is released for loading 

  

	 	(ii)	Sufficient Volume is available (loading) 

  

	 	(iii)	Sufficient Ullage is available (discharge) 

  

	    	Failure to satisfy the above mentioned criteria will result in the vessel call to berth being cancelled and the vessel rejoins the queue (as next vessel to be called). Cargo operations may commence whilst sequential
operational steps are in progress, subject to the condition that no additional delays to the overall operational programme are incurred. 

  

	4.	Other than in exceptional circumstances, Max Idle Time after vessel is All Fast shall not exceed 6 hours (Inclusive of product analysis). ETT reserves the right to un-berth and reschedule vessels which do not comply,
The Company and the Client shall agree at least 3 hours before end time to un-berth, 

  

	5.	In exceptional circumstances, ETT reserves the right to deviate from these rules. Such deviation should be for the sake of operational safety or where there can be positive impact upon overall terminal operations.


  

	6.	Jetties can be used for board to board (Or ship to ship) operations subject to both vessels being ready for board to board operations. Vessels to be nominated separately and must be concurrently scheduled to ensure idle
time of either vessel does not exceed 6 hours. Vessels nominated for loading and / or discharging operations have priority over board to board operations. 


  
 *** Certain information in this
document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions.