Document:

Exhibit
10.8

 

Time
Charter

 

GOVERNMENT FORM

Approved by
the New York Produce Exchange

November 6th,
1913 - Amended October 20th,
1921; August 6th, 1931; October 3rd, 1946

 

This Charter Party, made and
concluded in LONDON:                                    23rd day of January
                         
19  2005
Between GENCO VIGOUR LIMITED, MARSHALL ISLANDS
                                                                          Owners of the good Hong
Kong                   Steamship/Motorship “GENCO VIGOUR”. (See Clause 29 for vessel’s full description)
of              
of             tons gross register, and                          
tons net register, having
engines of                                   indicated
horse power and with hull, machinery
and equipment in a thoroughly efficient state, and classed                                                                           at                           
of about                              
cubic feet bale capacity, and about
                               
tons of 2240 lbs. deadweight
capacity (cargo and bunkers, including fresh water and stores not exceeding
one-and-one half percent of ship’s deadweight capacity, allowing a minimum of
fifty tons) on a draft of                        
feet                            
inches on                         
Summer freeboard, inclusive of
permanent bunkers, which are of the capacity of about                                                         
tons of fuel, and capable of
steaming, fully laden, under good weather conditions about                                      
knots on a consumption of about
                        
tons of best Welsh coal best grade
fuel oil best grade Diesel oil, now trading
                                                                                                                       

and BHP-BILLITON MARKETING AG                        
Charterers of the City of BAAR, SWITZERLAND    

Witnesseth, That the
said Owners agree to let, and the said Charterers agree to hire the said
vessel, from the time of delivery, for about
Minimum 23 months to about (+ / - 15 days) 27
months Time Charter, trading always via safe port(s), safe berth(s), safe
anchorage(s), always afloat except NAABSA as per Clause 6, always within
Institute Warranty Limits within below mentioned trading limits.

Charterers to have liberty to sublet the vessel for all or any part of
the time covered by this Charter, but Charterers remaining responsible for the
fulfillment of this Charter Party.  Acceptance of delivery by Charterers shall not
constitute any waiver of Owners’ obligations hereunder.

Vessel to be placed at the disposal of the Charterers, at
on dropping outward Sea Pilot safe port TAIWAN,
port in Charterers’ option (intention KAOHSIUNG), any time day or night, Sundays
and Holidays included                                                         
 in such dock or at such wharf or place (where she may safely lie,
always afloat, at all times of tide, except as otherwise provided in clause No.
6), as the Charterers may direct.  If such dock, wharf or place be not available time to count as
provided for in clause No. 5.  Vessel on her delivery to be ready to receive
cargo with clean-swept holds washed
down and dry, fit and safe for the reception, carriage and preservation of any
permissible cargo and
tight, staunch, strong and in every way fitted for the service and so maintained by the Owners
throughout the currency of this Charter Party, having water ballast, and with sufficient power to operate all hatches and
winches simultaneously and donkey boiler
with sufficient steam power, or if not equipped with donkey boiler, then other
power sufficient to run all the winches at one and the same time (and with full complement of officers and crew, seamen, engineers
and firemen for a vessel of
her tonnage), to be employed, in carrying lawful merchandise, including petroleum
or its products, in proper containers, excluding See
Clause 30
                                                                                  
(vessel
is not to be employed in the carriage of Live Stock, but Charterers are to have
the privilege of shipping a small number of deck at their risk, all necessary
fittings and other requirements to be for account of Charterers), in such lawful trades, between safe port
and/or ports in British North America, and/or United States of America, and/or West
Indies, and/or Central America, and/or Caribbean Sea, and/or Gulf of Mexico,
and/or Mexico, and/or South America and places within British
Institute Warranty Limits (see Clause 31) and/or Europe
and/or Africa, and/or Asia, and/or Australia, and/or Tasmania, and/or New
Zealand, but excluding Magdalena River, River St. Lawrence between
October 31st and May 15th, Hudson Bay and all unsafe ports; also
excluding, when out of season, White Sea, Black Sea and the Baltic,                                                                                                                                                                                                            

                                                                                                                                                                                                          

                                                                                                                                                                                                          
as the Charterers or their Agents shall
direct, on the following conditions:

1.             That the Owners shall provide and pay for all provisions, wages charges for port services pertaining to the
crew and Owners’ business, and consular shipping and discharging
fees of the Crew; shall pay for the insurance of vessel, also for all the cabin,
deck, engine-room and other necessary stores, lubricating oil and fresh water (excluding additional fresh water for
hold cleaning when vessel’s own stock insufficient) including
boiler water and maintain her class and keep the vessel in a thoroughly
efficient state in hull, cargo
spaces, machinery and equipment for and during the service.

2.             That the Charterers, whilst the vessel is on hire, shall provide and pay for all the
fuel except as otherwise agreed, Port Charges, Compulsory/Customary Pilotages (but Owners/Master are, always with due
consideration to safety, to minimise use of pilots) Agencies,
Commissions, Consular Charges (except those pertaining to individual crew members or flag of
the vessel the Crew), and all other usual
expenses except those before stated, but when the vessel puts into a port for
causes for which vessel is responsible, then all such charges incurred shall be
paid by the Owners. Fumigations ordered because of illness of the crew to be
for Owners account and
time.  Fumigations ordered because of
cargoes carried or ports visited while vessel is employed under this charter to
be for Charterers account and
time.  The Master shall have right to
refuse fumigation to be done during steaming in case sufficient explanation and
instruction to his satisfaction are not given by the Charterers/Shippers. All other fumigations to be for Charterers account after vessel has been on charter for a continuous period of six months or
more.

Charterers are
to provide necessary dunnage and shifting boards, also any extra fittings
requisite for a special trade or unusual cargo, but

 

 

Owners to allow them the use of any dunnage
and shifting boards already aboard vessel.
Charterers to have the privilege of using shifting boards for dunnage, they
making good any damage thereto.

3.             That the Charterers, at the point port of delivery,
and the Owners, at the point  port of re-delivery, shall take
over and pay for all fuel and diesel oil  remaining on board
the vessel according
to prices and quantities as per Clause 33.
at the current prices in the
respective ports, the vessel to be delivered with not less  than                                                                                                

tons and not more than                                              tons
and to be re-delivered with not less than                        tons
and not more than                       tons.

4.             That the Charterers shall pay for
the use and hire of the said Vessel at the rate of U.S.$ 29,000.00 (Twenty Nine Thousand Dollars) per day/pro rata including
overtime in United States
Currency per ton on vessel’s total deadweight carrying capacity, including
bunkers and stores, on                            
summer freeboard, per Calendar Month, commencing on and from the time of the day
of her delivery, as aforesaid, and at and after the same rate for any part of a
day month;
hire to continue until the hour of the day of her re-delivery in like good
order and condition, ordinary wear and tear excepted, to the Owners (unless
lost) at  on
dropping last outward Sea Pilot one safe port SKAW/PASSERO RANGE or passing
SKAW/PASSERO RANGE WESTBOUND in Charterers’ option, or in Charterers’ option on
dropping last outward Sea Pilot one safe port SINGAPORE/JAPAN RANGE including
PHILIPPINE ISLANDS, TAIWAN, SOUTH KOREA, PEOPLE’S REPUBLIC OF CHINA, INDONESIA
or in Charterers’ option ADEN-PMO RANGE, always port in Charterers’ option, any
time day or night, Sundays and Holidays included unless
otherwise mutually agreed. Charterers are to give Owners not less than 30/25/15/10 days notice
of vessels expected date and
probably port or place of re-delivery, and 5/3/1 day(s) definite date and port
or place of redelivery.  probable
port.

5.             Payment of said hire to be made in
New York in cash in United States Currency, semi-monthly in advance, and for
the last half month or part of same the approximate amount of hire, and should
same not cover the actual time, hire is to be paid for the balance day
by day, at it becomes due, if so required by Owners, unless bank
guarantee or deposit is made by the Charterers, otherwise failing the punctual
and regular payment of the hire, or bank guarantee, or on any breach of this
Charter Party, the Owners shall be at liberty to withdraw the vessel from the
service of the Charterers, without prejudice to any claim they (the Owners) may
otherwise have on the Charterers but subject to the notification procedure as per Clause 32.
Time to count from 7 a.m. on the working day following that on which written notice of
readiness has been given to Charterers or their Agents before 4 p.m., but
if required by Charterers, they to have the privilege of using vessel at once,
such time used to count as hire.

Cash for
vessel’s ordinary disbursements at any port may be advanced as required by the
Captain, by the Charterers or their Agents, subject to 2 1/2% commission and
such advances shall be deducted from the hire. The Charterers, however, shall
in no way be responsible for the application of such advances.

6.             That the cargo or cargoes be laden
and/or discharged in any dock or at any wharf or anchorage or place that Charterers of
their Agents may direct, provided the vessel can safely lie always afloat at
any time of tide, except at such places where it is customary for similar size
vessels to safely lie aground, as per
Clause 31.

7.             That the whole reach of the Vessel’s
Hold, Decks, and usual places of loading (not more than she can
reasonably and safely
stow and carry), also accommodations for Supercargo, if carried, shall be at
the Charterers’ disposal, reserving only proper and sufficient space for Ship’s
officers, crew, tackle, apparel, furniture, provisions, stores and fuel. Charterers
have the privilege of passengers as far as accommodations allow, Charterers
paying Owners                       per
day per passenger for accommodations and meals. However, it is agreed that in
case any fines or extra expenses are incurred in the consequences of the
carriage of passengers, Charterers are to bear such risk and expense  No cargo on deck.

8.             That the Captain shall prosecute
his voyages with the utmost dispatch, and shall render all customary assistance
with ship’s crew and boats. The Captain (although appointed by the Owners),
shall be under the orders and directions of the Charterers as regards
employment and agency; and Charterers are to load, stow, and
trim and discharge
the cargo at their expense under the supervision of the Captain, who is to sign
Bills of Lading for cargo as presented, in conformity with Mate’s or Tally
Clerk’s receipts.

9.             That if the Charterers shall have
reason to be dissatisfied with the conduct of the Captain, Officers, or
Engineers, the Owners shall on receiving particulars of the complaint,
investigate the same, and, if necessary, make a change in the appointments.

10.           That the Charterers shall have
permission to appoint a Supercargo, who shall accompany the vessel and see that
voyages are prosecuted with the utmost dispatch. He is to be furnished with
free accommodation, and same fare as provided for Captain’s table, Charterers
paying at the rate of U.S.$15.00 per day. Owners to
victual Pilots and Customs Officers, and also, when authorized by Charterers or
their Agents, to victual Tally Clerks, Stevedore’s Foreman, etc., Charterers
paying at the current rate per mea, as per Clause 60 for all such victualling.

11.           That the Charterers shall furnish the
Captain from time to time with all requisite instructions and sailing
directions, in writing, and the Captain shall keep a full and correct Deck and Engine Log
of the voyage or voyages, which are to be patent to the Charterers or their
Agents, and furnish the Charterers, their Agents or Supercargo, when required,
with a true copy, in
English, of such
daily Deck and Engine
Logs, showing the course of the vessel and distance run and the consumption of
fuel etc. as per Charterers’
form.

12.           That the Captain shall use diligence
in caring for the ventilation of the cargo.

13.           That the Charterers shall have the
option of continuing this charter for a further period of See Lines 14/15

                                                                                                                                                                                                     

on giving written notice thereof to the Owners or their Agents                    
days prior
previous to the expiration of the first-named term, or any declared
option.

14.           That if required by Charterers, time
not to commence before 15th January 2005                                 and
should vessel not have given written notice of readiness on or before 30th January 2005                       but
not later than 4 p.m. Charterers or their Agents to have the option of
cancelling this Charter at any time not later than the day of vessel’s
readiness.

15.           That in the event of the loss of time
from deficiency and/or default of men including strikes of Officers and
crew whether due to labour disputes or otherwise or deficiency of
or stores, fire, breakdown or damages to hull, machinery or equipment, grounding,
detention by average accidents to ship or cargo, drydocking for the purpose of
examination or painting bottom, or by any other cause whatsoever preventing
the full working of the vessel, the payment of hire and overtime, if any,
shall cease for the time thereby lost; and if upon the voyage the speed be
reduced by defect in or breakdown of any part of her hull, machinery or
equipment, the time so lost, and the cost of any extra fuel consumed in
consequence

 

 

thereof,
and all extra expenses shall be deducted from the hire.

16.           That should the Vessel be lost, money
paid in advance and not earned (reckoning from the date of loss or being last
heard of) shall be returned to the Charterers at once. The act of God, enemies,
fire, restraint of Princes, Rulers and People, and all dangers and accidents of
the Seas, Rivers, Machinery, Boilers and Steam Navigation, and errors of
Navigation throughout this Charter Party, always mutually excepted.

The vessel
shall have the liberty to sail with or without pilots, to tow and to be towed,
to assist vessels in distress, and to deviate for the purpose of saving life
and property.

17.           That should any dispute arise between
Owners and the Charterers, the matter in dispute shall be referred to Arbitration at London three
persons at New York, one to be appointed by each of the parties hereto, and the
third by the two so chosen; their decision or that of any two of them, shall be
final, and for the purpose of enforcing any award, this agreement may be made a
rule of the Court. The Arbitrators shall be commercial men.  See Clause 62

18.           That the Owners shall have a lien
upon all cargoes, and all sub-freights for any amounts due under this Charter,
including General Average contributions, and the Charterers to have a lien on
the Ship for all monies paid in advance and not earned, and any overpaid hire
or excess deposit to be returned at once. Charterers will not suffer, nor
permit to be continued, any lien or encumbrance incurred by them or their
agents, which might have priority over the title and interest of the owners in
the vessel.

19.           That all derelicts and salvage shall
be for Owners’ and Charterers’ equal benefit after deducting Owners’ and
Charterers’ expenses and Crew’s proportion. General Average shall be adjusted, stated
and settled, according to Rules 1 to 15, inclusive, 17 to 22,
inclusive, and Rule F of York-Antwerp Rules 1974 as amended 1990  1924,
at London, but Owners respecting
Charterers sub-contract stipulation as long as confined to a recognised place
of adjustment.  such port
or place in the United States as may be selected by the carrier, and as to
matters not provided for by these Rules, according to the laws and usages at
the port of New York.  In such
adjustment disbursements in foreign currencies shall be exchanged into United
States money at the rate prevailing on the dates made and allowances for damage
to cargo claimed in foreign currency shall be converted at the rate prevailing
on the last day of discharge at the port or place of final discharge of such
damaged cargo from the ship. Average agreement or bond and
such additional security, as may be required by the carrier, must be furnished
before delivery of the goods. Such cash deposit as the carrier or his
agents may deem sufficient as additional security for the contribution of the
goods and for any salvage and special charges thereon, shall, if required, be
made by the goods, shippers, consignees or owners of the goods to the carrier
before delivery. Such deposit shall, at the option of the carrier, be payable
in United States money and be remitted to the adjuster. When so remitted the
deposit shall be held in a special account at the place of adjustment in the
name of the adjuster pending settlement of the General Average and refunds or
credit balances, if any, shall be paid in United States money. The word “Carrier” in this Charter Party refers to
the Owners of the vessel.  Time Charter
hire shall not contribute to General Average.

In the event of accident, danger, damage, or
disaster, before or after commencement of the voyage resulting from any cause
whatsoever, whether due to negligence or not, for which, or for the consequence
of which, the carrier is not responsible, by statute, contract, or otherwise,
the goods, the shipper and the consignee, jointly and severally, shall
contribute with the carrier in general average to the payment of any
sacrifices, losses, or expenses of a general average nature that may be made or
incurred, and shall pay salvage and special charges incurred in respect of the
goods. If a salving ship is owned or operated by the carrier, salvage shall be
paid for as fully and in the same manner as if such salving ship or ships
belonged to strangers.

Provisions as
to General Average in accordance with the above as
well as the New Jason Clause attached are to be included in all
bills of lading issued hereunder.

20.           Fuel used by the vessel while off
hire, also for cooking, condensing water, or for grates and stoves
to be agreed to as to quantity, and the cost of replacing same, to be for  allowed by Owners’ account.

21.           That as the vessel may be from
time to time employed in tropical waters during the term of this Charter,
Vessel is to be docked at a convenient place, bottom cleaned and painted
whenever Charterers and Captain think necessary, at least once in every six
months, reckoning from time of last painting, and payment of the hire to be
suspended until she is again in proper state for the service  See Clause 38

                                                                                                                                                                                                         

                                                                                                                                                                                                         

22.           Owners shall maintain the gear of
the ship as fitted, providing gear (for all derricks) capable of handling lifts
up to three tons, also providing ropes, falls, slings and blocks. If vessel is
fitted with derricks capable of handling heavier lifts, Owners are to provide
necessary gear for same, otherwise equipment and gear
for heavier lifts shall be for Charterers’ account. Owners also to provide
on the vessel lights lanterns
and oil for night work, and vessel to give use of electric light
when so fitted, but any additional lights over those on board to be at
Charterers’ expense. The Charterers to have the use of any
gear on board the vessel.

23.           Vessel to work night and day, and on Sundays and Holidays if
required by Charterers, and all winches to be at Charterers’ disposal during
loading and discharging; steamer to provide one winchman per
hatch to work winches day and night, as required, Charterers agreeing to pay
officers, engineers, winchmen, deck hands and donkeymen for overtime work done
in accordance with the working hours and rates stated in the ship’s articles.
If the rules of the port, or labor unions, prevent crew from driving
winches, shore Winchmen to be paid by Charterers. In the event of a disabled
winch or winches, or insufficient power to operate winches, Owners to pay for
shore engine, or engines, in lieu thereof, if required, and pay any loss of
time occasioned thereby.

24.           It is also mutually agreed that this
Charter is subject to all the terms and provisions of and all
the exemptions from liability contained in the Act of Congress of the United
States approved on the 13th
day of February, 1893, and entitled “An Act relating to Navigation of Vessels;
etc.,” in respect of all cargo shipped under this charter to or from the United
States of America. It is further subject to the following clauses, both of which are to be included
in all bills of lading issued hereunder:

U.S.A. Clause Paramount (See also Clause 72)

This bill of
lading shall have effect subject to the provisions of the Carriage of Goods by
Sea Act of the United States, approved April 16, 1936, which shall be
deemed to be incorporated herein, and nothing herein contained shall be deemed a
surrender by the carrier of any of its rights or immunities or an increase of
any of its responsibilities or liabilities under said Act. If any term of this
bill of lading be repugnant to said Act to any extent, such term shall be void
to that extent, but no further.

New
Both-to-Blame Collision Clause as attached

If the ship comes into collision with another
ship as a result of the negligence of the other ship and any act, neglect or
default of the Master, mariner, pilot or the servants of the Carrier in the
navigation or in the management of the ship, the owners of the goods carried
hereunder will indemnify the Carrier against all loss or liability to the other
or non carrying ship or her owners in so far as such loss or liability
represents loss of, or damage to, or any claim whatsoever of the owners of said
goods, paid or payable by the other or non-carrying ship or her owners to the
owners of said goods and set off, recouped or recovered by the other or non-carrying
ship or her owners as part of their claim against the carrying ship or carrier.

 

 

25.           The
vessel shall not be required to enter any ice-bound port, or any port where
lights or light-ships have been or are about to be withdrawn by reason of ice,
or where there is risk that in the ordinary course of things the vessel will
not be able on account of ice to safetly enter the port or to get our after
having completed loading or discharging. Vessel
not to force ice, nor follow ice breakers.

26.           Nothing
herein stated is to be construed as a demise of the vessel to the Time
Charterers. The owners to remain responsible for the navigation of the vessel, acts of pilots and tugboats,
insurance, crew, and all other similar
matters, same as when trading for their own account.

27.           A
commission of 2 1/2  1.25 per
cent is payable by the Vessel and Owners to H.
CLARKSON & CO. LIMITED, LONDON                                                                                                                                                                                         

on hire earned and paid under this Charter, and also upon any continuation or
extension of this Charter.

28.           An address commission of 2
1/2  3.75 per cent payable to Charterers                                       
on the hire earned and paid under this Charter.

 

Clauses 29 to 88, inclusive, as attached, to be deemed part of and
incorporated in this Charter Party.

 

	
  Signed for and on behalf of Charterers:

  	
   

  
	
  BHP-BILLITON MARKETING AG.,

  	
   

  
	
  of BAAR, SWITZERLAND

  	
   

  
	
  By E-Mail authority dated 18th
  March 2005

  	
   

  
	
  Received from:

  	
  Genco Ship Management LLC

  
	
  BHP-BILLITON Marketing B.V.,

  	
  As Agent for Owner

  
	
  The Netherlands

  	
   

  
	
  For and on behalf of:

  	
  By

  	
  /s/ Peter C. Georgiopoulos

  	
   

  
	
  H. CLARKSON & CO. LTD., LONDON

  	
   

  	
  Peter C. Georgiopoulos

  	
   

  
	
   

  	
   

  	
  President

  	
   

  
	
   

  	
   

  
	
    /s/ M. G. Grimwade

  	
   

  	
   

  
	
  M. G. GRIMWADE - Director

  	
   

  
	
  As Agents Only

  	
   

  
						

 

This Charter Party is a computer generated copy of the NYPE (Revised 3rd
October, 1946) form printed under licence from the Association of Ship Brokers &
Agents (U.S.A), Inc., using software which is the copyright of Strategic
Software Limited.

 

It 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.

 

 

 

	
   

  	
   

  	
  

  	
   

  	
  [SEAL]

  

 

RIDER CLAUSES TO THE M.V. “GENCO VIGOUR”

CHARTER PARTY DATED LONDON: 23RD JANUARY 2005

 

Clause 29:

 

Vessel’s Description

 

M.V. “GENCO
VIGOUR”

 

	
  Owners

  	
   

  	
  :

  	
   

  	
  GENCO VIGOUR LIMTED, MARSHALL ISLANDS

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  DWT

  	
   

  	
  :

  	
   

  	
  73,941 on 13.928 metres Summer Salt Water

  (TPC about 65.66)

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Flag

  	
   

  	
  :

  	
   

  	
  Hong Kong

  
	
  Built

  	
   

  	
  :

  	
   

  	
  1999

  
	
  Type

  	
   

  	
  :

  	
   

  	
  Single deck, bulk carrier with double hull structure

  
	
  LOA/Beam

  	
   

  	
  :

  	
   

  	
  225 / 32.26 metres

  
	
  GRT / NRT

  	
   

  	
  :

  	
   

  	
  38,646 / 24,612

  
	
  Grain / Bale

  	
   

  	
  :

  	
   

  	
  85,927 / 85,620 cubic metres

  
	
  Holds / Hatches

  	
   

  	
  :

  	
   

  	
  6 / 6

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Gearless

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Speed / Consumption

  	
   

  	
  :

  	
   

  	
  About 14 knots (Laden) / 14.5 knots (Ballast) on about 33.5 metric
  tons IFO (380 CST) plus 1.8 metric tons IFO (180 CST) in calm sea and fair
  weather with wind speed up to and including Beaufort Scale 4.

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  In port

  	
   

  	
  :

  	
   

  	
  2.0 metric tons IFO / day (Working) / 1.5 metric tons IFO / day
  (Idle).

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Bunker Specifications

  	
   

  	
  :

  	
   

  	
  IFO – ISO 8217 RME25 (1996E) / MDO – ISO 8217

  No Diesel Oil at sea but vessel has liberty to consume MDO while manoeuvring
  in / out of ports, starting of auxiliary engine, navigating in shallow /
  restricted / busy waters, canals, rivers.

  

 

Holdwise (Holds + Hatches) capacity breakdown (all
in cubic metres):

 

	
   

  	
   

  	
  Grain:

  	
   

  	
  Bale:

  	
   

  	
  Tanktop Strength (T/M2):

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  H1

  	
   

  	
  12073

  	
   

  	
  12026

  	
   

  	
  29.8

  
	
  H2

  	
   

  	
  16730

  	
   

  	
  16683

  	
   

  	
  16.5

  
	
  H3

  	
   

  	
  14085

  	
   

  	
  14031

  	
   

  	
  26.8

  
	
  H4

  	
   

  	
  13587

  	
   

  	
  13532

  	
   

  	
  28.0

  
	
  H5

  	
   

  	
  16534

  	
   

  	
  16486

  	
   

  	
  16.5

  
	
  H6

  	
   

  	
  12918

  	
   

  	
  12862

  	
   

  	
  29.8

  

 

1

 

Hatch
sizes (length x breadth - all in
metres):

 

	
  H1

  	
   

  	
  :

  	
   

  	
  16.74 x 12.00 (F) / 15.88 (A)

  
	
  H2

  	
   

  	
  :

  	
   

  	
  22.32 x 15.88

  
	
  H3

  	
   

  	
  :

  	
   

  	
  16.74 x15.88

  
	
  H4

  	
   

  	
  :

  	
   

  	
  16.74 x15.88

  
	
  H5

  	
   

  	
  :

  	
   

  	
  22.32 x15.88

  
	
  H6

  	
   

  	
  :

  	
   

  	
  16.74 x 15.88

  

 

All details ‘about’ and without
guarantee

 

See attached Questionnaire.

 

Clause 30:

 

Cargo Exclusions

 

All dangerous, hazardous, injurious, inflammable
cargoes/goods/commodities as listed in the latest IMO DG Code and/or any
subsequent modifications/amendments thereof, nuclear and radio active
cargo/waste/material or its products, nuclear isotopes, war material, arms and
ammunitions, explosive materials, livestock/animals, logs, mahogany logs,
shavings, cotton, waste paper, expellers, copra, pyrites, resin, asbestos,
fishmeal, lumber, meat/bone meal, bones, hides of any kind, direct reduced iron
ore, hot briquetted iron, sponge iron, iron briquettes, borax, saltpetre,
dangerous chemicals, zinc ashes, naptha, petroleum or its products, asphalt,
pitch (in bulk/drums), tar/bitumen or any of its products, ammonium nitrate,
ammonium sulphate, creosoted goods, acids, calcium carbide/chloride,
ferrosilicon, hydrochloride, caustic soda, Indian coal, pond coal, oilcakes,
(soybean meal and soybean meal pellets always allowed), expellers, sunflower
seed expellers, charcoal, motor spirit, turpentine, fuel, scrap, turnings,
motorblocks, concentrates (however iron ore concentrates allowed).

 

Charterers are allowed to carry one cargo of bulk
cement and two cargoes of cement clinker per annum (Hold Block Clause as below
to apply).

 

Pig iron

 

Pig iron loaded from Ponta De Madeira is always
excluded.

 

If a pig iron cargo is loaded then the following
clause to apply:

 

Charterers to endeavour to
minimise the impact of pig iron on to the tank tops by furnishing, as per
custom of the port, wooden pallets to receive the initial first load of cargo.

 

2

 

Charterers will supply for
their own account 4 wooden pallets each 2 metres x 2 metres and place these on
the centre of the holds and additionally place a 5th pallet on top
to soften the impact of the first load of cargo. Charterers
to remove the pallets from vessel’s holds after discharge. Should Master
request tarpaulin/plastic sheets to protect the hatch covers/deck/deck
equipment/superstructure, in order to minimise the effects of dust, Charterers
to supply at their cost the tarpaulin/plastic sheets to vessel prior loading,
quantity as per Master’s request.

 

Steels Loading

 

It is agreed that the vessel will not be called upon
to stow by use of “Block California Stow Method”.

 

Charterers have the liberty to carry three (3) shipments
in total of green delayed and/or calcined petcoke (whether it be full or part cargo) per annum, under the following
conditions (see also Clause 45):

 

a)                                      Such cargo to be
loaded/stowed/trimmed/discharged strictly according to latest IMO Regulations/Rules applicable
to such cargo.

 

b)                                     Should any additional/special wash down of
holds be required prior to loading such cargo, as recommended/required by
Master, same to be at Charterers’ time and expense.

 

(See Clause 36 – “Between
Voyages”)

 

The Charterers may load iron concentrates but in any
event such cargo is loaded, the Charterers are to arrange at their risk,
expense and in their time the following conditions and steps:

 

Cargo to be loaded, stowed,
trimmed, transported and discharged strictly in accordance with IMO and Local
Regulations.

 

Holds to be fresh water
washed and dried before loading at the Charterers’ time and expense.

 

Before loading certificate
of cargo issued by authorised Surveyor as per IMO and Local Regulations, same
to be submitted to the Master of the vessel.

 

Cargo not to be loaded
during rain.

 

Charterers to be allowed two (2) cargoes of
bulk formed sulphur and two (2) cargoes of bulk salt per annum, but same
not to be last cargo loaded under this Charter Party.

 

3

 

Preparation and cleaning for bulk formed sulphur and
for bulk salt:

 

(To be clear, when the words “Hold Block” and “Hold Clean” is used in the following
paragraphs, it refers to the name of the actual product which can be obtained
from RBM Hold Solutions, see the website www.holdsolutions.com).

 

a)                                      Charterers to arrange at their time and
expense to spray “Hold Block” (please see website www.holdsolutions.com) on the
vessel’s holds, in Owners’ option. The vessel always
remaining on hire during hold preparation and procedure and cleaning after
discharge.

 

b)                                      If possible and if proper equipment and
supplies are on board the vessel and weather permitting, crew maybe requested
to affect the spraying of holds with “Hold Block”.

 

c)                                      After discharging, Charterers to arrange
removal of “Hold Block” from all the holds at their expense and in their time
by sweeping and washing down vessel’s holds or other methods according to the
usual procedure which chemicals or by the use of “Hold Clean” in Owners’
option. Vessel’s crew may be requested to endeavour to remove the “Hold Block”
at Charterers’ expense and time, materials are to be
provided by Charterers as per Master’s request. Charterers paying an additional
lumpsum of U.S.$ 6,000.00 to Owners for the additional
preparation and/or cleaning work done by the crew. Vessel
always remaining on hire.

 

d)                                    Charterers always to supply any necessary
material requested by the Master for preparation and cleaning of vessel’s holds
prior loading and for cleaning after discharging.

 

e)                                    As per Intermediate Hold Cleaning Clause,
Charterers’ remain responsible for the disposal of dirty water from the vessel
in accordance with local regulations.

 

Clause 31:

 

Trade

 

Always afloat, always via safe ports, safe places,
worldwide trading within Institute Warranty Limits, excluding:

 

Russian Pacific ports (as long
as the present regulations in the trading countries, including but not limited
to Canada and USA apply restricting vessel trading thereafter calling Russian
Pacific ports), Amazon above Trombetas, Bangladesh, Cambodia, Turkish occupied
Cyprus, Iran, Iraq, Somalia, Yemen, Ethiopia, Lebanon, Syria, Libya (including
Gulf of Sidra/Sirte), Congo, Democratic Republic of formerly Zaire, Liberia,
Sri Lanka, Sierra Leone, Eritrea,

 

4

 

Angola, Cabinda, Tanzania, Namibia, Nicaragua,
Nigeria, Haiti, Cuba, Burma (Myanmar), North Korea, Kampuchea, Sudan,
Guatemala, Albania, former Yugoslavia unless allowed by United Nations and
approved by Owners’ P. & I. Club (but Slovenia and Croatia allowed),
all war, warlike and war risk zones declared from time to time by the London
War Committee on war risk trading warranties.

 

The vessel is not allowed at any time to trade to
the port/areas which are prohibited from trading by the UN and/or international
organisation of the UN and/or the authorities of the country under which the
flag the vessel is flying.

 

No direct sailing between
mainland China and Taiwan.

 

In the event of factors,
which case the Owners to exclude any of the aforementioned countries from the
vessel’s permitted trading area, ceasing to exist, Owners will consider
favourably a request from Charterers to trade to one or more of these
countries, but final decision is at Owners’ sole discretion.

 

Israel and Vietnam to be allowed, provided present
positive condition continues to persist and that no war or warlike condition
exists in the countries, decision of which is to be made solely, by Owners,
however, same not to be unreasonably withheld by Owners.

 

It is understood that
Charterers are allowed to trade Gulf of Aqaba as long as the situation permits,
however final judgement of situation is made solely by Owners, which, however
is not to be unreasonably withheld.

 

NAABSA to be allowed in
South Brazil, Argentina and Uruguay where it is customary for vessels of
similar size, dimensions and draft to safely lie aground.

 

Trading always within Institute Warranty Limits, but
Charterers have the option to trade beyond Institute Warranty Limits subject to
Owner’s and their Underwriter’s prior consent, against paying to Owners
additional insurance premium (if any) on hull and machinery as per vouchers
from vessel’s Underwriters, but such additional premium not to exceed the
amount charged if vessel had been insured by Lloyd’s of London.

 

Clause 32:

 

Hire Payments

 

Hire to be paid to Owners’
London bank account.

 

Nordea Bank Finland Plc – New York Branch

437 Madison Avenue

New York, N.Y. 10022

 

	
  Swift

  	
  :

  	
  NDEAUS3N

  
	
   

  	
   

  	
   

  
	
  ABA Routing No.

  	
  :

  	
  026010786

  

 

5

 

	
  Beneficiary Acct No.

  	
  :

  	
  7434842001

  
	
   

  	
   

  	
   

  
	
  Beneficiary

  	
  :

  	
  Genco Vigour Limited

  
	
   

  	
   

  	
  Trust Company Complex

  
	
   

  	
   

  	
  Ajeltake Road

  
	
   

  	
   

  	
  Ajeltake Island

  
	
   

  	
   

  	
  Majuro

  
	
   

  	
   

  	
  Marshall Islands MH96960

  

 

Referring to lines 60 and
62: In default of prompt payment of the hire, or bank guarantee or deposit, or
on any breach of this charter, the Owners shall notify the Charterers,
whereupon Charterers shall rectify matters within 3 (three) banking days of
receipt of notification from Owners, failing which Owners shall have the right
to withdraw the vessel from the service of Charterers, without prejudice to any
claim Owners may otherwise have on Charterers under this Charter.

 

Deductions
from hire:

 

Charterers have the option
to deduct an address commission from the hire. Charterers have the right to
withhold from charter hire during the period of this charter such amounts due
to them for off-hire and Owners’ disbursements. Deductions to
be properly supported by relevant documents. Charterers further have the
right to withhold from last sufficient hire payment(s) estimated Owners’
advances and disbursements, including any fines and other amounts which are for
Owners’ account, and also the value of redelivery bunkers. Final
settlement to be made soonest possible after redelivery.

 

Clause 33:

 

Bunkers on Delivery/Redelivery

 

Referring to Clause No. 3,
vessel to be delivered with about 1,235 metric tons Intermediate Fuel Oil and
about 74 metric tons Marine Diesel Oil.

 

Bunkers on redelivery about
same quantities as on delivery.

 

Prices both ends :                                                U.S.$ 198.00 per metric ton for
Intermediate Fuel Oil

U.S.$  415.00 per metric ton for
Marine Diesel Oil.

 

Charterers have the option to
deduct estimated value of redelivery bunkers from last hire payment(s).

 

The Charterers shall supply
bunkers of a quality suitable for burning in the vessel’s engines and
auxiliaries and which conform to the specification ISO 8217 RME25 (1996E) of
IFO or better quality for engines and auxiliaries and ISO 8217 or better
quality for engines and auxiliaries.

 

6

 

Charterers have option to take bunkers prior
to delivery for their account provided same does not interfere with Owners own
business, and Owners have the right to bunker prior to redelivery, provided
same does not interfere with Charterers’ business.

 

Clause 34:

 

Owners are
obliged to deliver and keep the vessel, her crew and anything pertaining hereto
supplied with up-to-date and complete certificates and approvals enabling the
vessel and her crew to carry the cargoes and trade within the trading limits
allowed under this Charter Party.

 

Owners warrant
that at the date of delivery and throughout the currency of this charter vessel
shall be of the description set out in lines 3 through 10 and
Clause 29 and undertake that whenever her hull, machinery, and/or equipment is
not thoroughly efficient, they will immediately take all necessary steps to put
her condition right again.

 

Clause 35:

 

On/Qff-hire
Survey

 

Joint bunkers
and condition on-hire survey to be held on delivery or at first loading port in
Owners’ time by an independent sworn surveyor for both parties to be mutually
agreed.  Joint bunkers and
condition off-hire survey to be held on redelivery in Charterers’ time by an
independent sworn surveyor for both parties to be mutually agreed.  The expenses for both parties to be equally shared.

 

Clause 36: Off-hire: 

 

Duration of Charter Party

 

Charterers have the option of
adding any time the vessel is off-hire for longer than 24 hours per occasion
for any reasons valid under present Charter Party to the maximum duration as
indicated in line 14.

 

Within 7 days after completion of each 6
month period under this Charter Party, Charterers to declare in writing their
option to add off-hire time incurred during said period.

 

Should vessel be off-hire for a continuous
period of more than 45 days, Charterers have the option of cancelling the
charter.

 

Clause 37:

 

Lay-up
Clause

 

Charterers to
have the privilege of ordering the vessel to be laid up at any time during the
period of this Charter Parry at a safe berth or place and in such a manner as
mutually agreed upon and acceptable to the vessel’s Hull Underwriters. At the
request of Charterers and on their indicating likely lay up position and
duration, Owners shall at any time provide an

 

7

 

estimate of the economies which may be possible in
the event of the laying up of the vessel. Such estimate shall not however be
binding upon Owners. In the event of such laying up, Owners shall take steps to
effect all reasonable economies in operating costs including signing off of
crew, reduction in the scope of insurance cover (but not on insured values)
etc. and to give prompt credit to Charterers in respect of all such economies
in the form of a reduction in the hire payable, but only to the extent of the
financial savings to Owners (which shall be substantiated to Charterers by a
written statement by Owners) as may be actually achieved. Hire shall continue
to be paid throughout the period of lay up. All costs and extra costs for
putting the vessel in a lay up position and condition, during lay up and on
reactivation to be in Charterers’ time and at their expense, such extra costs
to include, but not limited to cost of crew repatriation, indemnities payable
to the crew, cost of crew rejoining, drydocking and repainting the vessel’s
underwater parts etc. Charterers to give sufficient notice
(i.e. not less than 30 days) of their intention to lay up the vessel and
sufficient notice (i.e. not less than 30 days) of their intention to reactivate
her.

 

Owners shall try, but without
any responsibility on their part, to make necessary arrangements for
decommissioning and recommissioning within the 30 days period.  In the event that the vessel is in laid up
condition 45 days before the expiration of this charter, Owners have the option
in Charterers’ time and at Charterers’ expense to reactivate / re-commission
the vessel or debit Charterers with the estimated cost and time involved.

 

Clause 38:

 

Duration of Drydocking and
Repairs

 

No drydocking during this
Charter, except for cases of emergency except for scheduled drydock earliest
about 24 months and latest about 36 months after delivery from the yard. (Delivered from yard October, 2001).

 

Owners shall give Charterers
sufficient notice for drydock arrangement, together with the estimated
duration. Owners must respect Charterers’ scheduling and Owners are not to make
firm drydocking arrangement without Charterers’ prior consent. Vessel to be
off-hire and hire to be suspended from the time vessel deviates from Charterers’
business until vessel is in a proper state for the service and has again been
placed at Charterers’ disposal at an equivalent distance position to the point
where hire was suspended but such point not to be less favourable to
Charterers.

 

During such drydocking /
emergency repairs Owners are to keep Charterers closely informed about exact
nature and accurate position of repair work for completion of repairs and
re-entry into the Charter. Owners to give Charterers not less
than 5 days definite notice for re-entering into the Charter.

 

8

 

Clause 39:

 

Interclub Clause:

 

Any liability to third
parties for cargo claims shall be borne by Owners/Charterers in accordance with
the Interclub NYPE Agreement dated February 20th, 1970, and reprints of May 1984,
or any subsequent modification or replacement thereof.

 

The party having paid the
claim shall submit same to the other party with supporting documents as  soon
as possible. Neither party shall between themselves refer to the one year
time limit as a defence.

 

Clause 40:

 

House Flag Clause

 

Deleted.

 

Clause 41:

 

Double Banking Clause

 

Charterers have the privilege to double bank the
vessel, i.e. may order the vessel alongside other vessels (or vice versa) for
loading and/or discharging and/or bunkering, double banking always to be solely
at Master’s discretion as regards safety of the crew, vessel and cargo and
Master/crew to give every facility/co-operation in line with normal shipping
practice. Master also has the right at any time to order vessel to sail if he
considers it unsafe for vessel to remain double-banked.

 

In case additional fenders
are required for double-banking, same to be provided and paid for by
Charterers. If the Master decides to suspend or cease operation due to safety
as above vessel is not to be placed off-hire.

 

Clause 42:

 

Stevedore Damage

 

Vessel is guaranteed
suitable for grab discharge. Deeptanks, tunnels and all other provisions within
vessel’s holds are to be adequately protected against damage by stevedores’
grabs. The Master to obtain repairs from stevedores themselves and will settle
matter directly with them, but Charterers are liable to the extent should
Master fail to obtain repairs from stevedores. Master to
report immediately to Charterers and their agents when damage caused.

 

Furthermore, Master will take care that the party
causing damage acknowledges same in writing, failing which Master with
Charterers’ agents have to arrange, survey to value estimated amount of damages
and time lost, otherwise Charterers cannot be held responsible for damages.

 

9

 

All damages, which are to be repaired by Charterers
and which do not refer to fair wear and tear or which are recoverable from
third parties and do not affect the ship’s seaworthiness or working capacity,
to remain for occasional repairs or when the ship is to dock for Owners’
account so that the Charterers pay the actual cost of repairs but not for the
time used, provided time occupied in repairing stevedores’ damages does not
exceed time necessary for Owners to carry out their own works/repairs.

 

Clause 43:

 

War Risk Insurance and Crew War
Bonus

 

Present war risk insurance and
crew war bonus to be for Owners’ account. In the event Charterers employ the
vessel in a trade for which there is an additional war risk insurance premium,
Charterers to reimburse the Owners such additional premium based on vessel’s
insured hull and machinery value at that time, but increase not to exceed what
would have been quoted if vessel was covered with Lloyd’s of London. Charterers to pay for such additional premium on receipt of Owners’
invoice accompanied by original vouchers from Underwriters. Any increase
in crew war bonus after delivery caused by the trade in which vessel is engaged
to be for Charterers’ account.

 

Clause 44:

 

Holds
Condition

 

Hold conditions on arrival
first loading port after delivery of the vessel, to be ready to receive any
permissible cargo under this Charter Party. If vessel fails inspection at first
loading port after delivery of the vessel, vessel to be off-hire from the time
of rejection until vessel passes such inspection and all extra expenses
incurred to be for Owners’ account.

 

Charterers have the option
to redeliver the vessel without cleaning the holds, they paying a lumpsum of
U.S. $5,000 (Five Thousand Dollars) in lieu of such cleaning (including dunnage
removal, if applicable), and Owners to instruct Master to accept redelivery of
the vessel without holds being cleaned.

 

Clause 45:

 

Cleaning En Route

 

Intermediate cleaning of
holds to be done by crew as far as shore regulations permit, if required by
Charterers.
Charterers paying U.S.$ 650.00 (Six Hundred and Fifty
Dollars) per hold for sweeping / washing or U.S.$ 400.00 (Four Hundred Dollars)
per hold for sweeping only except in the case of petcoke, in which case U.S.$
1,000.00 (One Thousand Dollars). Crew will render their utmost assistance to
clean the holds always provided time between discharging port and next loading
port is sufficient for crew to perform adequate cleaning and weather
permitting, however, vessel/Owners are not responsible for the result. If shore

 

10

 

regulations do not permit crew to carry out hold
cleaning, cost of shore labour to be for Charterers’ account.

 

When, however, after the customary cleaning of
remaining cargo by vessel’s crew and/or shore labour in application of this
Clause, the vessel is refused by competent authorities to load grain, alumina
or similar clean bulk cargo owing to loose rust scale and paint chips in cargo
compartments, all expenses incurred in preparing her for the intended cargo
service to be for Owners’ account and for the time lost she will be considered
off-hire.

 

Clause 46:

 

War Cancellation Clause

 

If war or actual hostilities
break out between any of the following countries: U.S.A., C.I.S., U.K., France,
Germany, Denmark, Japan, China, both Charterers and Owners have the option to
cancel this Charter.

 

It is understood that war or
actual hostilities means direct war or hostilities between these nations and
does not include local hostilities or civil war where any of the above
countries, support opposing sides. Charterers and Owners shall not unreasonably
take advantage of this Clause in case of a limited local conflict.

 

Clause 47:

 

Stability
and Trimming

 

It is understood that no cargo need to be carried in
deeptanks in order to ensure vessel’s stability, trim or seaworthiness. Owners
guarantee vessel has sufficient stability and safe trim when trading
homogeneously loaded to full capacity and deadweight capacity.

 

Vessel is a selftrimming
bulk carrier. No additional trimming is required to fill all holds up with
coal, ore, grain, phosphate or similar bulk cargoes.

 

Clause 48:

 

Bunker
Quality

 

Charterers to supply fuel
and diesel oil which must comply with ISO Standard 8217 RME25 (1996E), or
better quantity for the vessel’s engines and ‘ISO 8217 DMB (1996E)’ or better
quality for the vessel’s engines, or any amendments thereof. All values
estimated in the ISO 8217 Specification to be considered as maximum allowable
values. Charterers shall only supply suitable fuels as per Specifications.

 

Charterers to supply fuels to be mineral based
products of stable and homogenous nature, and shall not contain waste
lubricants, tar oil, inorganic acids, nuclear waste, chemicals or any other
harmful substances. Sludge removal, to be effected during loading and/or
discharging

 

11

 

operations in Charterers’ time but Owners’ account,
provided bunkers delivered by Charterers are found to be in compliance with
bunker specification in line with vessel’s description.

 

If bunkers supplied does not conform with the mutually agreed specification(s) or otherwise prove
unsuitable for burning in the vessel’s engines or auxiliaries, the Owners shall
not be held responsible for any reduction in the vessel’s speed performance
and/or increased bunker consumption, nor for any time lost and any other
consequences.

 

Clause 49:

 

Notice of
Delivery

 

Owners to give Charterers 7 days approximate and 5/3/1 day(s) definite notice of
delivery.

 

Clause 50:

 

Deviation

 

A)                                   Should the vessel be put into any port other
than those instructed by the Charterers by reason of accident or breakdown or,
for the purpose of landing any injured or sick officer, the Master or members
of the crew, the port charges, pilotages, bunker consumption and other
expenses, including loss of time, shall be borne by Owners, also should the
vessel be put back whilst on voyage by any of the above mentioned reasons, the
hire shall be suspended from the time of her putting back until she is again in
the same or equidistant position and the voyage resumed therefrom.

 

B)                                   Vessel has liberty to deviate for the purpose
of saving life and/or property and to tow and assist vessels in distress. Such
operation not to be deemed to be a diversion under this Charter Party, but all
salvage contribution thus payable to vessel to be equally divided with
Charterers after proper deduction of expenses, if any (including Captain and
crew’s share), incurred in this respect.

 

Clause 51:

 

Boycott and
Arrest of Vessel.

 

Should the vessel be arrested during the currency of
this Charter Parry at the suit of any person having or purporting to have claim
against or any interest in the vessel, hire under this Charter Party shall not
be payable in respect of any period whilst the vessel is under arrest, provided
under the terms of this Charter Party such claims are not Charterers’
liability. In the event of the vessel being subjected to boycott, being delayed
or rendered inoperative by strikes, blacklisting, labour stoppages or any
other difficulties arising from vessel’s flag, ownership, crew or terms of
employment of crew of chartered vessel or any other vessel under the same
ownership, operation or control, such time lost is to be considered as off-hire
and all expenses incurred thereby, including fuel/diesel consumed during such
periods, to be for Owners’ account.

 

12

 

Clause 52:

 

L.T.F.

 

Officers and crew to be
employed under an agreement recognised by the I.T.F. and all time lost/expenses
incurred as a result of an action taken by the I.T.F. or any of it’s affiliated
unions against the vessel or Owners to be for Owners’ account and vessel to be
considered off-hire.

 

Clause 53:

 

Quarantine

 

The vessel to
be in possession of necessary certificates to comply with safety and health
regulations and all current requirements at all ports of call under this
Charter Party. Normal quarantine time and expenses
to enter ports to be for Charterers’ account, but any time of detention and
expenses for quarantine due to pestilence, illness etc. of the vessel’s Master,
officers and crew to be for Owners’ account, as long as the vessel remains
within her trading limits under the present Charter Party.

 

Clause 54:

 

Smuggling

 

Charterers to be responsible
for any fines whatsoever imposed in the event of smuggling by Charterers’
employees, but Owners to be responsible for any such acts of their own officers
and/or crew. Charterers to remain responsible for detention
of the vessel due to smuggling committed by Charterers employees only.

 

Clause 55:

 

Crew
Onboard.

 

At loading and discharging
port(s) any time lost by the vessel for the reason of not all the crew being
onboard when the vessel is ready to sail to be for Owners’ account, as well as
expenses deriving therefrom.

 

Clause 56:

 

Overtime.

 

Officers’ and crew’s overtime,
as included in vessel’s hire, to include amongst operations usually performed
by the crew the following services unless prohibited by shore regulations
whether occurring during straight time or overtime:

 

A)                                  Opening and/or closing of hatches in
preparation of loading and/or discharging operations.

 

13

 

 

B)                                    Assistance during docking and undocking,
shifting and bunkering operations.

 

C)                                    Shaping up hatches as much as possible,
weather permitting, prior to arrival at loading and/or discharging port and/or
docks and/or places so that loading and/or discharging operations can commence
immediately.

 

D)                                   Supervising during loading and discharging.

 

E)                                     Watchmen in holds during loading and
discharging.

 

Vessel
to work day and night without Charterers’ special request.

 

Clause 57:

 

Watchmen

 

Watchmen for gangway ordered by vessel to be for
Owners’ account, but if same compulsory by port regulations same to be for
Charterers account. Watchmen for cargo always to be for
Charterers’ account.

 

Clause 58:

 

Deleted.

 

Clause 59:

 

Deleted.

 

Clause 60:

 

Representation
and Communication Expenses

 

Further to Clause 10,
Charterers will remit Owners a lumpsum of U.S. $1,250.00 (One Thousand Two
Hundred and Fifty Dollars) monthly or pro rata for all victualling as per lines
84/85. This lumpsum also covers the cost of cigarettes, drinks, petty expenses
etc. incurred by Master, as well as the cost of radio telegrams, telex and fax
communication and phone calls made by Master on behalf of Charterers or their
agents in direct performance of this Charter Party.

 

Clause 61:

 

U.S. Regulations

 

If the vessel calls at any
U.S. port for purposes of loading or discharging cargo, vessel’s equipment
shall comply with regulations established by U.S. Public Law 85-742 Part 9
(Safety and Health Regulations for Longshoring). If longshoremen are not
permitted to work

 

14

 

due to failure of the Master and/or Owners’
agents to comply with the aforementioned regulations, any delay resulting
therefrom, and any stevedore standby time and other expenses involved, shall be
for Owners’ account.

 

Clause 62:

 

Arbitration

 

All disputes arising out of
this contract shall be arbitrated at London and, unless the parties agree
forthwith on a single Arbitrator, be referred to the final arbitrament of two
Arbitrators carrying on business in London who shall be members of the Baltic
Mercantile & Shipping Exchange and engaged in shipping, one to be
appointed by each of the parties, with power to such Arbitrators to appoint an
Umpire. No award shall be questioned or invalidated on the ground that any of
the Arbitrators is not qualified as above unless objection to his action be
taken before the award is made. Any dispute arising hereunder shall be governed
by English law.

 

For disputes where the total
amount claimed by either party does not exceed U.S. $50,000 (Fifty Thousand
Dollars) the arbitration shall be conducted in accordance with the Small Claims
Procedure of the London Maritime Arbitrator’s Association.

 

If either of the appointed Arbitrators refuse to
act, or is incapable of acting, or dies, the party who appointed him may
appoint a new Arbitrator in his place. If one party fails to appoint an
Arbitrator, either originally or by way of substitution as aforesaid, for
thirty clear days after the other party having appointed his Arbitrator has
served the party making default with notice to make the appointment, the party
who has appointed an Arbitrator may appoint that Arbitrator to act as sole
Arbitrator in the reference, and his award shall be binding upon both parties
as if he has been appointed by consent.

 

Clause 63:

 

Insurance

 

A)                                  Owners guarantee that vessel is entered and
shall remain for the duration of this Charter Party in a Protection and
Indemnity Association, which is a member of the International Group of P. &
I. Clubs.

 

Owners’ P. & I.
Club is: SKULD

 

B)                                    Any additional insurance on vessel and/or
cargo levied by reason of the vessel’s flag, ownership, class or condition to
be borne by Owners.

 

15

 

Clause 64:

 

Classification

 

Owners engage themselves to maintain vessel classed
100 AI Lloyd’s Register or equivalent during the currency of this charter.
Owners guarantee that the vessel will be insured on a basis, which in respect
of collision liability gives protection that is considered to embrace at least
as much as the Running Down Clause with 3/4 with Hull and Machinery Underwriter
and 1/4 with P. & I. Club.

 

Clause 65:

 

Bill(s) of
Lading

 

Charterers or their agents
are authorised to issue and sign Bill(s) of Lading on Charterers’ usual form on
Owners’ and Master’s behalf for cargo as presented. Charterers shall indemnify
Owners from all consequences of non-conformity of Bill(s) of Lading signed with
Mate’s receipts.

 

In the event that the original Bill(s) of Lading are
not available at the destination when the vessel is ready to discharge, Owners,
at the request of Charterers, agree to release the cargo without presentation
of the original Bill(s) of Lading provided that, prior to delivery of the
cargo, Charterers have arranged to have submitted to the Owners a Letter of
Indemnity as per Owners’ P. and I. Club’s form, as attached herewith or any
amendments thereto made by Owners’ P. and I. Club, signed by Charterers, first
on fax prior to commencement of discharging together with a legible copy of
relevant Bill(s) of Lading and the original Letter to be couriered to Owners
immediately, agreeing to fully indemnify and hold Owners and/or the vessel
and/or the Master and/or agents harmless against any consequences resulting
from the vessel releasing the cargo without presentation of the original
Bill(s) of Lading and also to remain fully responsible for all damages and/or
consequences that may arise out of the release of the cargo as above stated.

 

Clause 66:

 

Grain
Regulations

 

A)                                  The Owners guarantee that the vessel is a
selftrimming bulk carrier allowed to load grain or grain products without
shifting boards or other fittings for grain. Any expenses
resulting from breach of this warranty to be for Owners’ account.

 

B)                                    For the carriage of grain in bulk vessel to
have onboard at any time of this charter period valid documents and
certificates issued by a recognised Classification Society and certified by
National Cargo Bureau.

 

16

 

Clause 67:

 

Panama and
Suez

 

Vessel is fitted for and has
necessary equipment and certificates onboard to transit Panama Canal (and not
restricted due to her loadline or bilge radius), and Suez Canal.

 

Clause 68:

 

Pollution

 

FINANCIAL
RESPONSIBILITY IN RESPECT OF POLLUTION (ALL SHIPS OTHER THAN SELF-PROPELLED
TANK VESSELS
AND NON-SELF PROPELLED TANK
VESSELS
CARRYING MORE THAN 2,000 TONS OF PERSISTENT OIL IN BULK AS CARGO)

 

(1)                                  Owners warrant that throughout the currency
of this charter they will provide the vessel with the following certificates:

 

Certificates issued pursuant
to Section 1016 (a) of the Oil Pollution Act 1990, and Section 108
(a) of the Comprehensive Environmental Response, Compensation and Liability
Act 1980, as amended in accordance with Part 138 of Coast Guard

 

Regulations 33 CFR, so long
as these can be obtained by the Owners from or by SIGCO.

 

(2)                                  Notwithstanding anything whether printed or
typed herein to the contrary:

 

A)                                  save as required for compliance with
paragraph (1) hereof, Owners shall not be required to establish or
maintain financial, security or responsibility in respect of oil or other
pollution damage to enable the vessel lawfully to enter, remain in or leave any
port, place, territorial or contiguous waters of any country, state or
territory in performance of this charter.

 

B)                                    Charterers shall indemnify Owners and hold
them harmless in respect of any loss, damage, liability or expense (including
but not limited to the cost of any delay incurred by the vessel as a result of
any failure by the Charterers promptly to give alternative voyage orders)
whatsoever and howsoever arising which Owners may sustain by reason of any
requirement to establish or maintain financial security or responsibility in
order to enter, remain in or leave any port, place or waters, other than to the
extent provided in paragraph (1) hereof.

 

17

 

C)            Owners shall not be liable for any loss,
damage, liability or expense whatsoever
and howsoever arising which Charterers and/or the holders of any Bill of Lading
issued pursuant to this Charter may sustain by reason of any requirement to
establish or maintain financial security or responsibility in order to enter,
remain in or leave any port, place or waters, other than to the extent provided
in paragraph (1) hereof.

 

(3)           Charterers to exercise best efforts to ensure
that the terms of this Clause will be incorporated effectively into any Bill of
Lading issued pursuant to this Charter.

 

Clause 69:

 

Drug and
Alcohol Policy

 

Owners warrant that they have 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 Guidelines for the
Control of Drugs and Alcohol Onboard Ship. Under the Policy, alcohol impairment
shall be confined as a blood alcohol content of 40 mg/100 ml or greater.

 

The appropriate seafarers to be tested shall be all
vessel officers and the drug/alcohol testing and screening shall include
unannounced testing in addition to routine medical examinations. An objective
of the Policy should be that the frequency of 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
routine medical examinations. Owners further warrant that the Policy will
remain in effect during the currency of this charter and that Owners shall
exercise due diligence to ensure that the Policy is complied with. It is
understood that an actual impairment or any test finding of impairment shall
not in and of itself mean that the Owners have failed to exercise due
diligence.

 

Clause 70:

 

Stowaways

 

A.                                   1.             The Charterers warrant to exercise due care
and diligence in preventing stowaways
in gaining access to the vessel by means of secreting away in the goods and/or
containers shipped by the Charterers.

 

2                                          If, despite the exercise of due care and
diligence by the Charterers, stowaways have gained access to the vessel by
means of secreting away in the goods and/or containers shipped by the
Charterers, this shall amount to breach of charter for the consequences of
which the Charterers shall be liable and shall hold the Owners harmless and shall
keep them indemnified against all claims whatsoever which may arise and be made
against them. Furthermore, all time lost and all expenses whatsoever and
howsoever incurred, including fines, shall be for the Charterers’ account and
the vessel shall remain on hire.

 

18

 

3.                                       Should the vessel be arrested as a result of
the Charterers’ breach of charter according to sub-clause (a) 1.  above, the Charterers shall take
all reasonable steps to secure that, within a reasonable time, the vessel is
released and at their expense put up bail to secure release the vessel.

 

B.                                     1.                                       If, despite the exercise of due care and
diligence by the Owners, stowaways have
gained access to the vessel by means other than secreting away in the goods
and/or containers shipped by the Charterers, all time lost and all expenses
whatsoever and howsoever incurred, including fines, shall be for the Owners’
account and the vessel shall be off-hire.

 

2.                                       Should the vessel be arrested as a result of
stowaways having gained access to the vessel by means other than secreting away
in the goods and/or containers shipped by the Charterers, the Owners shall take
all reasonable steps to secure that, within a reasonable time, the vessel is
released and at their expense put up bail to secure release of the vessel.

 

Clause 71:

 

Weather
Routing

 

Charterers have the right to
appoint Ocean routes or a similar weather routing service to monitor vessel’s
performance during sea passages. Owners will request Master to co-operate with
the appointed weather routing service and follow their recommendations as, far
as practical. Weather reports to be taken from vessel’s deck
log and/or Ocean Routes or similar weather routing service if so elected by
Charterers. In the event of consistent discrepancies between the two
sources the above weather service to be taken as final.

 

Clause 72:

 

New Both-to-Blame Collision
Clause, New Jason Clause and Chamber of Shipping War Risk Clauses 1 and 2 as
attached, to be included in this Charter Party, and all Bill(s) of Lading shall
be subject to said clauses.

 

The U.S.A/Canadian Clauses
Paramount as applicable, or the Hague Rules as enacted in countries other
than the U.S.A. and Canada, as applicable, to be incorporated in all Bill(s) of
Lading.

 

Clause 73:

 

This Charter Party to be
governed by and construed in accordance with English law.

 

Clause 74:

 

Delivery and redelivery
times are understood to be GMT. Laydays/cancelling to be
local time.

 

19

 

Clause 75:

 

Deleted.

 

Clause 76:

 

Deleted.

 

Clause 77:

 

Deleted.

 

Clause 78:

 

Mobile
Crane Clause applicable only for discharge grain in Taiwan

 

Charterers have the liberty to place mobile cranes
on deck provided all costs, time and risk to be for Charterers’ account, and
provided sufficient dunnage (as may be required by the Master) is placed
underneath the cranes to spread both the static weight and dynamic weight and
in any case the static weight and dynamic weight are not to exceed permissible
weight per square meter on deck.

 

Should any cutting or welding or reinforcement be
necessary on vessel’s hatches to accommodate the placement of such cranes, then
Owners’ prior approval shall be required and all expenses, time and risk of
such work to be for Charterers’ account, and such work always to be carried out
subject to vessel’s classification society surveyor’s approval and also subject
to port authorities’ regulations. Charterers will be fully responsible for any
and all damage, time, expenses and costs including but not limited to all burn
areas of paint on deck and underneath which are to be reconditioned to the
original state and that all operations to be under the Master’s / Officer’s
supervision and the Master’s and classification society’s satisfaction.

 

It is understood that before
the Owners and/or the Master will give any required approval, each will be
furnished by Charterers, sufficiently in advance of the time their approval is
required, with all information they may request from Charterers in order to
make a decision.

 

Clause 79:

 

Artificial
Separation:

 

Charterers may use
artificial plastic separations or similar in holds to facilitate the loading of
different grades of cargo, however, Owners or Master shall not be responsible
for any commingling of different grades of cargo notwithstanding any cause of
commingling of grades. Also Owners shall not be responsible for shortage of
individual grades on discharge. Charterers shall indemnify Owners and hold
Owners harmless in respect of any liability grades of cargo in one hold.

 

20

 

Clause 80

 

BIMCO Standard ISM Clause – For
Voyage and Time Charter Parties

 

From the date of coming into force of the
International Safety Management (I.S.M.) 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 I.S.M. Code) shall
comply with the requirements of the I.S.M. Code.

 

Upon request the Owners shall
provide a copy of the relevant Document of Compliance (D.O.C.) and Safety
Management Certificate (S.M.C.) to the Charterers.

 

Except as otherwise provided
in this Charter Party, loss, damage, expense or delay caused by failure on the
part of the Owners or “the Company” to comply with the I.S.M. Code shall be for
the Owners’ account.

 

Clause 81:

 

Deleted.

 

Clause 82:

 

Owners
Matters in Port:

 

Charterers’ Agents are
available to perform the following services to Owners – Cash advances to Master
by Owners, crew mail, arranging fresh water supplies, minor medical attendance.
These services to be provided at actual cost and no agency
fee applicable but Owners to settle with Agents and to be ultimately
responsible for settling same.

 

For sake of clarity, this
Clause will remove the necessity for Charterers to make deductions for
estimated Owner’s expenses in port as Owners will settle same directly.

 

Clause 83:

 

Owners confirm vessel has
Dual Deadweight Certificate of maximum 69,999 long tons which is available to
Charterers without cost.

 

Clause 84:

 

Split Bill(s) of Lading:

 

Charterers and/or agents may
allow to split the original Bill(s) of Lading quantity into smaller parcels by
the way of delivery orders provided that Charterers must conform with following
provisions and obtain Owners’ prior written permission at each occasion.

 

21

 

1.                                       Charterers shall collect the full set of the
issued original Bill(s) of Lading i.e. 3 (three) of each original Bill(s) of
Lading (if issued in 3 (three) Originals) and only after they have collected
the full set, they then split the original Bill(s) of Lading quantity into
smaller parcels by the way of delivery orders.

 

2.                                       The delivery orders must provide for the
exact same terms and conditions as the original Bill(s) of Lading and the total
quantity of The delivery orders must match the
quantity of the original Bill(s) of Lading. The delivery orders shall not
prejudice the shipowner’s rights under The Bill(s) of Lading. Charterers to
hold Owners fully harmless for and against any consequences, liabilities and/or
costs arising out of the Issue ship delivery orders.

 

3.                                       Prior to commencement of discharge of the
cargo, the full set of the original Bill(s) of Lading shall be handed to the
Master or Owners. The original delivery orders must be presented to the Master
enabling him to check the quantity, the terms and conditions thereof.

 

4.                                       Discharging cargoes must commence after the
Master has confirmed that the original delivery orders are in order and have
been issued in compliance with the terms and conditions under this clause. On
presentation of one original delivery order all other originals to stand “void”.

 

5.                                       Charterers shall keep both Owners and Master
fully informed of any development in order to avoid any trouble from.

 

6.                                       All delivery orders issued pursuant to this
clause shall, without prejudice to the generally of the above, include the
following Clauses:

 

A)                                  The Chamber of Shipping Voyage Charter Clause
Paramount 1958 amended to include the words “and/or delivery order” after the
words “Bill of Lading” appearing in lines 12 and 16 thereof.

 

B)                                    This shipment was loaded on board the vessel
as part of one original lot of               
(enter description of cargo) of which               
(enter quantity) was loaded at               
(enter name of load port) and               
(enter quantity) was loaded at               
(enter second load port) with no segregation as to parcels. The vessel
undertakes to delivery only that proportion of cargo actually loaded which is
represented by the percentage that the total amount specified in the delivery
orders bears to the total of undivided bulk delivered at destination. Neither
the vessel nor the Owner assumes any responsibility for the separation of the
undivided bulk at the port of delivery.

 

Clause 85:

 

Deleted

 

22

 

Clause 86:

 

For the duration of this
Charter Party, Owners guarantee to have a valid dual DWT Certificate of maximum
70,000 LTDWT which to be available for use by Charterers free of expense.

 

Clause 87

 

BHPBilliton Set-Off Clause

 

Following a default by either party hereunder (the “Defaulting
Party”) the other party (the “Non-Defaulting Party”) shall be entitled, at its
option, to set-off any amounts believed in good faith and on reasonable grounds
by the Non-Defaulting Party to be payable (whether at such time or in the
future or upon the occurrence of a contingency) by the Defaulting Party to the
Non-Defaulting Party (whether under this Charter Party or otherwise), against
any amounts believed in good faith and on reasonable grounds by the
Non-Defaulting Party to be payable (whether at such time or in the future or
upon the occurrence of a contingency) by the Non-Defaulting Party to the
Defaulting Party (whether under this Charter Party or otherwise), irrespective
of the currency, place of payment or booking office of either party’s
obligations and the parties respective obligations shall be discharged promptly
and in all respects to the extent they are so set-off. The Non-Defaulting Party
will give 3 (three) days prior notice to the Defaulting Party of any intended
set-off to be effected under this provision. For this purpose, any such amount
payable by one party to the other (or the relevant portion of such amount) may
be converted by the Non-Defaulting Party, acting in good faith and in a
commercially reasonable manner, into such currency as may reasonably be
required in order to effect such set-off at an exchange rate determined by the
Non-Defaulting Party acting in good faith and in a commercially reasonable
manner. If an obligation is unascertained, the Non-Defaulting Party may in good
faith estimate that obligation and set-off in respect of the estimate, subject
to the relevant party accounting to the other when the obligation is
ascertained. The right of the Non-Defaulting Party under this provision shall
apply without prejudice to Clause 71 or any other right of set-off which it may
have whether by agreement, operation of law or otherwise. Nothing in this
provision shall be effective to create a charge or other security interest.

 

Clause 88

 

Charterers or their
appointed representatives have the right to inspect the vessel at any time
during this Charter. Owners/Master/crew to co-operate fully
with any such inspection.

 

23

 

NEW BOTH TO
BLAME COLLISION CLAUSE

 

If the liability for any
collision in which the vessel is involved while performing this Charter Party
fails to be determined in accordance with the laws of the United States of
America, the following Clause shall apply:-

 

BOTH TO
BLAME COLLISION CLAUSE

 

“If the ship comes into
collision with another ship as a result of the negligence of the other ship and
any act, neglect or default of the Master, Mariner, Pilot or the servants of
the Carrier in the navigation or in the management of the ship, the Owners of
the goods carried hereunder will indemnify the Carrier against all loss or
liability to the other or non-carrying ship or her owners in so far as such
loss or liability represents loss of, or damage to, or any claim whatsoever of
the owners of the said goods, paid or payable by the other or non-carrying ship
or her Owners to the Owners of said goods and set off, recouped or recovered by
the other or non-carrying ship or her Owners as part of their claim against the
carrying vessel or Carrier.

 

The foregoing provisions
shall also apply where the Owners, Operators or those in charge of any ship or
ships or objects other than, or in addition to, the colliding ships or objects
are at fault in respect to a collision or contact.”

 

The Charterers shall procure that all Bills of
Lading issued under this Charter Party shall contain the same clause.

 

NEW JASON CLAUSE

 

In the event of accident, danger, damage or disaster
before or after the commencement of the voyage, resulting from any cause
whatsoever, whether due to negligence or not for which, or for the consequence
of which, the carrier is not responsible, by statute, contract, or otherwise,
the goods, shippers, consignees or Owners of the goods shall contribute with
the carrier in general average to the payment of any sacrifices, losses, or
expenses of a general average nature that may be made or incurred, and shall
pay salvage and special charges incurred in respect of the goods.

 

If a salving ship is owned
or operated by the carrier, salvage shall be paid for as fully as if the said
salving ship or ships belonged to strangers. Such deposit as the carrier or his
agents may deem sufficient to cover the estimated contribution of the goods and
any salvage and special charges thereon shall, if required, be made by the
goods, shippers, consignees or owners of the goods to the carrier before
delivery.

 

The Charterers shall procure
that all Bills of Lading issued under this Charter Party shall contain the same
clause.

 

24

 

WAR RISK
CLAUSES

 

“(1) No Bills of Lading to be signed for any
blockaded port and if the port of discharge be declared blockaded after Bills
of Lading have been signed, or if the port to which the ship has been ordered
to discharge either on signing Bills of Lading or thereafter be one to which
the ship is or shall be prohibited from going by the Government of the Nation under
whose flag the ship sails or by any other Government, the owners shall
discharge the cargo at any other port covered by this Charter Party as ordered
by the Charterers (provided such other port is not a blockaded or prohibited
port as above mentioned) and shall be entitled to freight as if the ship had
discharged at the port or ports of discharge to which she was originally
ordered”.

 

“(2) The Ship shall have liberty to comply with
any orders or directions, as to departure, arrival, routes, ports of call,
stoppages, destinations, delivery or otherwise howsoever given by the
Government of the Nation under whose flag the vessel sails or any department
thereof, or by any other Government or any department thereof, or any person
acting or purporting to act with the authority of such Government or of any
department thereof, or by any committee or person having, under the terms of
the War Risks Insurance on the ship, the right to give such orders or
directions and if by reason of and in compliance with any such orders or
directions anything is doe or is not done, the same shall not be deemed a
deviation, and delivery in accordance with such orders or directions shall be a
fulfilment of the contract voyage and the freight shall be payable accordingly”.

 

The Charterers shall procure
that all Bill(s) of Lading issued under this Charter Party shall contain the
same Clause.

 

25

 

INT. GROUP A

 

STANDARD FROM LETTER OF INDEMNITY TO BE GIVEN IN
RETURN FOR DELIVERING CARGO WITHOUT PRODUCTION OF THE ORIGINAL BILL OF LADING

 

	
  TO:

  	
   

  	
  (insert name of Owners)

  	
  (insert date)

  
	
   

  	
   

  	
  To the Owners of the
  (insert name of ship)

  	
   

  

 

DEAR SIRS,

 

	
  SHIP

  	
   

  	
  : (insert name of ship)

  
	
   

  	
   

  	
   

  
	
  VOYAGE

  	
   

  	
  : (insert load/discharge port as stated in Bills of Lading)

  
	
   

  	
   

  	
   

  
	
  CARGO

  	
   

  	
   

  	
  : (insert description of cargo)

  

 

BILL(S) OF LADING: (insert
identification number, date, place of issue)

 

The above cargo was shipped on
the above ship by [insert name of shipper] and
consigned to [insert name of consignee or to whose order the
Bill of Lading is made out, as appropriate] for delivery at the port
of [insert name of discharge port stated in the Bill
of Lading] but the Bills of Lading have not arrived and we, [insert
name of party requesting delivery], hereby request you to give delivery of the
said cargo to [insert name of party to whom delivery is to
be made] without production of the original Bill(s) of Lading.

 

In consideration of your
complying with our above request, we hereby agree as follows:

 

1.                                       To indemnify you, your servants and agents
and to hold all of you harmless in respect of any liability, loss, damage or
expenses of whatsoever nature which you may sustain by reason of delivering the
cargo in accordance with our request.

 

2.                                       In the event of any proceedings being commenced
against you or any of your servants or agents in connection with the delivery
of the cargo as aforesaid to provide you or them on demand with sufficient
funds to defend the same.

 

3.                                       If, in connection with the delivery of the
cargo as aforesaid, the ship or any other ship or property in the same or
associated Ownership, Management or control, should be arrested or detained or
should the arrest or detention thereof be threatened, or should there be any
interference in the use or trading of the vessel (whether by virtue of a caveat
being entered on the ship’s registry or otherwise howsoever), to provide on
demand such bail or other security as may be required to prevent such arrest or
detention or to secure the release of such ship or property or to remove such
interference and to indemnify you in respect of any liability, loss, damage or
expense caused by such arrest or detention or threatened arrest or detention or
such

 

26

 

interference, whether or not such arrest or detention or
threatened arrest or detention or such interference may be justified.

 

4.                                       If the place at which we have asked you to
make delivery is a bulk liquid or gas terminal or facility, or another ship,
lighter or barge, then delivery to such terminal, facility, ship, lighter or
barge shall be deemed to be delivery to the party to whom we have requested you
to make such delivery.

 

5.                                      As soon as all original Bills of Lading for
the above cargo shall have come into our possession to deliver the same to you,
or otherwise to cause all original Bill(s) of Lading to be delivered to you,
whereupon our liability hereunder shall cease.

 

6.                                       The
liability of each and every
person under this indemnity shall be joint and several and shall not be conditional
upon your proceeding first against any person, whether or not such person is
party to or liable under this indemnity.

 

7.                                       This indemnity shall be governed by and
construed in accordance with English Law and each and every person liable under
this indemnity shall at your request submit to the jurisdiction of the High
Court of Justice of England.

 

	
  Yours faithfully

  
	
   

  
	
  For and on behalf of

  
	
  [insert name of requestor]

  
	
   

  
	
   

  	
   

  	
   

  
	
  Signature

  

 

27

 

 

	
  

  	
  [SEAL]

  

 

VETTING-QUESTIONNAIRE
CAPE & PANAMAX

 

Time Period
- Charter

 

This questionnaire comprises 5 pages. It is to be completed and signed
by a ‘responsible’ person familiar with the vessel, usually a representative of
vessels Technical Manager as indicated in Q2 of this questionnaire. Submission of completed and signed questionnaire and copies of requested documents is essential prior to a formal
decision on the vessel.

 

	
  1:

  	
  Current Vessel Name

  	
  :

  	
  GENCO VIGOUR

  	
  Ex Name: 

  	
  TOP VIGOUR

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
  IMO Number

  	
  :

  	
  463676380

  	
  Flag:  

  	
  HONG KONG

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  2:

  	
  Technical Manager Name and Head office
  address:

  
	
   

  	
   

  
	
   

  	
  TOP GLORY
  SHIPPING & CO., LTD

  
	
   

  	
  27 FLOOR,
  TOP GLORY TOWER,

  
	
   

  	
  262,
  GLOUCESTER ROAD, CAUSEWAY BAY

  
	
   

  	
  HONG KONG

  
	
   

  	
   

  
	
  3:

  	
  Please STATE DATES
  (dd/mmm/yyyy) for the following:

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  1.

  	
   

  	
  Date of last dry dock

  	
  13-APR-04

  
	
   

  	
  2.

  	
   

  	
  Date of last special survey

  	
  31-OCT-04

  
	
   

  	
   

  	
   

  
	
  4:

  	
  Please ANSWER YES OR NO
  to the following questions

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  1.

  	
   

  	
  Does the
  vessel currently have any Condition[s] of Class? If “Yes”
  please attach details of conditions

  	
  NO

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
  2.

  	
   

  	
  Has the vessel been detained by Port State
  Control Authority in last 12 months? If “Yes” please attach
  Detention Report copy and details of deficiencies rectified

  	
  NO

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  5:

  	
  Please ATTACH COPIES for the following
  documents:

  	
   

  
								

 

	
   

  	
   

  	
  CERTIFICATE

  EXPIRY DATE

  	
   

  	
  PAGES

  ATTACHED

  	
   

  	
  v

  Box

  	
   

  
	
  1.

  	
   

  	
  ISS Certificate 

  	
   

  	
  21 APR 09

  	
   

  	
  ONE

  	
   

  	
   

  	
   

  
	
  2.

  	
   

  	
  Certificate of Class

  	
   

  	
  31 OCT 09

  	
   

  	
  ONE

  	
   

  	
   

  	
   

  
	
  3.

  	
   

  	
  Document of Compliance

  	
   

  	
  24 SEPT 07

  	
   

  	
  ONE

  	
   

  	
   

  	
   

  
	
  4.

  	
   

  	
  Safety Management Certificate

  	
   

  	
  21 APR 09

  	
   

  	
  ONE

  	
   

  	
   

  	
   

  
	
  5.

  	
   

  	
  Latest Port State Control Inspection Report

  	
   

  	
  XXXXXXXX

  	
   

  	
  ONE

  	
   

  	
   

  	
   

  

 

	
  6:

  	
  Please answer the following questions in
  relation to the Vessel Security Plan:

  	
   

  

 

1

 

	
  The Security Level at which the ship is currently
  operating

  	
  LEVEL ONE

  

 

	
  1:           Vessel
  Particulars

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  

 

	
  1.1

  	
   

  	
  Call Sign:

  	
   

  	
   

  	
   

  	
  Telex/Fax:

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  1.2

  	
   

  	
  Inmarsat
  Numbers:

  	
   

  	
   

  	
   

  	
  Email: gvg@teship.amosconnect.com

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  1.3

  	
   

  	
  TPC

  	
   

  	
  ABOUT 65.66

  	
   

  	
   

  	
   

  	
   

  
	
  1.4

  	
   

  	
  Hatch
  Dimensions in main deck [m]:

  	
   

  	
  (1) 15.88 m
  (A)

  L 16.74 m   W 12.00 m(F)

  	
   

  	
  (2)

  L 22.32 m

  	
  W 15.88 m

  	
   

  	
  (3)

  L 16.74 m

  	
  W 15.88 m

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
  (4)

  L 16.74 m

  	
  W 15.88 m

  	
   

  	
  (5)

  L 22.32 m

  	
  W 15.88m

  	
   

  	
  (6)

  L 16.74 m

  	
  W 15.88 m

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
  (7)

  L

  	
  W

  	
   

  	
  (8)

  L

  	
  W

  	
   

  	
  (9)

  L

  	
  W

  
	
  1.5

  	
   

  	
  Vessel
  Ballast Hold [s]:

  	
   

  	
  Sea: No. 4
  HOLD

  	
   

  	
  Port:
  No. 4 HOLD

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  1.6

  	
   

  	
  Total Grain
  capacity [m3]:

  	
   

  	
  85,927 m3

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  1.7

  	
   

  	
  Grain
  Capacity [m3] for each hold including hatch coamings:

  	
   

  	
  (1)
  12,073

  	
   

  	
  (2)
  16,730

  	
   

  	
  (3)
  14,085

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
  (4) 13,587

  	
   

  	
  (5) 16,534

  	
   

  	
  (6) 12,918

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
  (7)

  	
   

  	
  (8)

  	
   

  	
  (9)

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  1.8

  	
   

  	
  Total DWT
  Capacity [mt]:

  	
   

  	
  SUMMER DEADWEIGHT
  73,941

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  1.9

  	
   

  	
  Capacity
  [mt] for each hold.

  	
   

  	
  (1)

  	
   

  	
   

  	
  (2)

  	
   

  	
   

  	
  (3)

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
  (4)

  	
   

  	
   

  	
  (5)

  	
   

  	
   

  	
  (6)

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
  (7)

  	
   

  	
   

  	
  (8)

  	
   

  	
   

  	
  (9)

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  1.10

  	
   

  	
  Type of
  Hatch covers:

  	
   

  	
  SIDE ROLLING

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  1.11

  	
   

  	
  Airdraft [m]
  - waterline to top of hatch coaming:

  	
   

  	
  Light Ballast: ABT 16.00 m

  	
   

  	
  Full Ballast: ABOUT 13.5 m

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  1.12

  	
   

  	
  Ballast Rate
  (mt/hour)

  	
   

  	
  Load: 700/HR

  	
   

  	
  Discharge: 700/HR

  
																		

 

2

 

2:                General

 

	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  Yes

  	
   

  	
  No

  	
   

  	
  N/A

  
	
  2.1

  	
   

  	
  Can vessel
  exchange ballast water at sea ?

  	
   

  	
  ý

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  2.2

  	
   

  	
  Is the
  vessel on T/C to you? If YES, indicate since when and from whom.

  
	
   

  	
   

  	
  NO

  
	
   

  	
   

  	
   

  
	
  2.3

  	
   

  	
  Has the
  vessel traded to Australia in last 6 months? If YES, list name(s) of
  Australian port(s) last called and date   YES

  
	
   

  	
   

  	
  NEW CASTLE

  	
  29-DEC-04

  
	
   

  	
   

  	
  PORT HEDLAND

  	
  23-NOV-04

  
	
   

  	
   

  	
  PORT HEDLAND

  	
  10-OCT-04

  
	
   

  	
   

  	
  GERALDTON

  	
  6-JUL-04

  
	
   

  	
   

  	
   

  
	
  2.4

  	
   

  	
  Has the vessel traded CIS Pacific Ports? If
  YES, list when and where.

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  NO

  
	
   

  	
   

  	
   

  
	
  2.5

  	
   

  	
  Please provide the full itinerary up to
  expected time of delivery/arrival load port:

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  Yes

  	
   

  	
  No

  	
   

  	
  N/A

  
	
  2.6

  	
   

  	
  Is the vessel suitable for Sollac - Dunkirk
  East Terminal?

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  2.7

  	
   

  	
  Is the vessel suitable for British Steel -
  Redcar Terminal?

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  2.8

  	
   

  	
  Can vessel be described as self trimming?

  	
   

  	
  ý

  	
   

  	
   

  	
   

  	
   

  
												

 

3:                For
Time Charter Vessels only :

 

	
  3.1

  	
   

  	
  Bunker
  capacity: @ 100%:

  	
   

  	
  HFO [tonnes]:
  2190.5 M3

  	
   

  	
  MDO [tonnes]:
  111.8 M3

  
	
   

  	
   

  	
   

  
	
  3.2

  	
   

  	
  Freshwater
  capacity: 387.9 M3

  	
   

  	
  Constant:
  ABOUT 300 MT

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  3.3

  	
   

  	
  Speed
  [Knots]

  	
   

  	
  Laden: 

  	
  AS PER C/P

  	
   

  	
  Ballast: 

  	
  AS PER C/P

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  3.4

  	
   

  	
  Consumption
  at sea [mt/day]

  	
   

  	
  Laden:

  	
  HFO:

  	
  AS PER C/P

  	
   

  	
  Ballast:

  	
  HFO:

  	
  AS PER C/P

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  MDO:

  	
   

  	
  MDO:

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  3.5

  	
   

  	
  Consumption
  in port [mt/day]

  	
   

  	
  Idle:

  	
  HFO:

  	
  AS PER C/P

  	
   

  	
  Working:

  	
  HFO:

  	
  AS PER C/P

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  MDO:

  	
   

  	
  MDO:

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  3.6

  	
   

  	
  Bunker
  specification [cst] and state standard of fuel specification

  	
   

  	
  HFO:

  	
  AS PER C/P

  	
   

  	
  MDO:

  	
  AS PER C/P

  
																				

 

3

 

4:                Banking Details

 

	
  4.1

  	
   

  	
  Beneficiary
  (Account Name)

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  4.2

  	
   

  	
  Account
  Number:

  	
   

  	
  Beneficiary
  Bank:

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  4.3

  	
   

  	
  Chips UID
  (USD Payments only):

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  4.4

  	
   

  	
  Address:

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  4.5

  	
   

  	
  Fedwire No:

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Following [6.6, 6.7, 6.8 below] is required if Beneficiary Bank is located outside of
  country of currency :

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  4.6

  	
   

  	
  Correspondent
  Bank in the USA of the Beneficiary Bank:

  
	
   

  	
   

  	
   

  
	
  4.7

  	
   

  	
  Account
  Number:

  

 

5:                Insurance
Details

 

	
  5.1

  	
   

  	
  P &
  I Club

  [Full style address and contact numbers] :

  	
   

  	
  SKULD

  WEBSITE: www.skuld.com

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  5.2

  	
   

  	
  Hull
  Insurance Company

  [Full style address and contact numbers] :

  	
   

  	
  GERLING -
  KONZERN ALLEGEMEINE OSLO THROUGH LEEDS & LEEDS CO., INC.

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  5.3

  	
   

  	
  Hull Insured
  value [USD]:

  	
   

  	
  USD 37
  MILLION.

  

 

6:                 Please
provide contact details in case of emergencies for Owners/Ship Manager
Representative[s] (for Time Charter vessels only)

 

	
   

  	
   

  	
  Contact person [s]

  	
   

  	
  Phone No [all

  	
   

  	
  Facsimile No [all

  
	
  Company Type:

  	
   

  	
  Name & Title

  	
   

  	
  hours]:

  	
   

  	
  hours]:

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Head Owner:

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Ship Operator/Manager

  	
   

  	
  EDDIE LAU

  OPERATIONS MANAGER

  	
   

  	
  852-91910232

  	
   

  	
  852-28330683

  

 

4

 

7:                Please
list details of the last 6 voyages

 

	
  Ports of Call

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  From:

  	
   

  	
  To:

  	
   

  	
  Cargo

  	
   

  	
  Charterer

  	
   

  	
  Voyage Dates

  	
   

  
	
  NEWCASTLE

  	
   

  	
  KAOHSING

  	
   

  	
  COAL

  	
   

  	
  CHINA STEEL

  	
   

  	
   

  	
   

  
	
  PORT HEDLAND

  	
   

  	
  ZHANJIANG

  	
   

  	
  IRON ORE

  	
   

  	
  DAEBO SEOUL

  	
   

  	
  23 NOV - 15
  DEC 04

  	
   

  
	
  QINHUANGDAO

  	
   

  	
  SUAL

  	
   

  	
  COAL

  	
   

  	
  CHANGBAI

  	
   

  	
  29 OCT - 16
  NOV 04

  	
   

  
	
  PORT HEDLAND

  	
   

  	
  QINHUANGDAO

  	
   

  	
  IRON ORE

  	
   

  	
  COSBUCK

  	
   

  	
  10 OCT - 29
  OCT 04

  	
   

  
	
  PULAU LAUT

  	
   

  	
  HONG KONG

  	
   

  	
  COAL

  	
   

  	
  SINOCHART

  	
   

  	
  7 SEPT - 2
  OCT 04

  	
   

  
	
  SATUI

  	
   

  	
  HONG KONG

  	
   

  	
  COAL

  	
   

  	
  SINOCHART

  	
   

  	
  2 AUG - 24
  AUG 04

  	
   

  

 

8:                Trading
Certificates

 

Please attach a list detailing the expiry dates of the vessel’s current
trading cerficates.

 

	
  Name: 

  	
  EDDIE LAU

  	
   

  	
  Designation: 

  	
  MANAGER - OPERATIONS

  	
   

  
	
   

  	
   

  
	
  Company:

  	
  TOP GLORY SHIPPING CO., LTD.

  	
   

  
	
   

  	
   

  
	
  Signature:

  	
  /s/ EDDIE LAU

  	
   

  	
  Date: 

  	
  11 - JAN - 05

  	
   

  
												

 

5Exhibit 10.9

 

	
  

  	
   

  	
  Time
  Charter

  	
   

  	
  [SEAL]

  

 

GOVERNMENT FORM

Approved by the New York Produce
Exchange

November 6th, 1913 - Amended October 20th, 1921;
August 6th, 1931; October 3rd, 1946

 

This Charter Party, made and
concluded in London                                              30th day
of November, 2004      19       Between
GENCO EXPLORER LIMITED, MARSHALL ISLANDS
                                                                    
Owners of the good Hong Kong                Steamship/Motorship
“TOP EXPLORER” to be renamed “GENCO EXPLORER”   of                         of
18,036                tons
gross register, and 10,227             tons
net register, having engines of                      indicated
horse power and with hull, machinery and equipment in a thoroughly efficient
state, and classed A.B.S.  at                               of
about 39,152                   cubic
metres grain feet bale
capacity, and about 29,952 metric          tons
of 2240 lbs. deadweight capacity (cargo and bunkers, including fresh
water and stores not exceeding one and one half percent of ship’s deadweight capacity,
allowing a minimum of fifty tons) on a draft of 9.994     feet metres       inches
on salt         Summer
freeboard, inclusive of permanent bunkers, which are of the capacity of about           tons
of fuel, and capable of steaming, fully laden throughout
the currency of this Charter Party, under
good weather conditions about 14 knots (Laden)/14.5 knots
(Ballast) on a consumption of about 23.5  metric tons Intermediate
Fuel Oil (180 CST) plus about 1.5 metric tons Intermediate Fuel Oil (180 CST) tons
of best Welsh coal best grade fuel oil best grade Diesel oil,  now trading
                                                       and
LAURITZEN BULKERS A/S                          Charterers
of the City of COPENHAGEN

Witnesseth, That the said Owners
agree to let, and the said Charterers agree to hire the said vessel, from the
time of delivery, for about for minimum 20
months/maximum 24  months timecharter in Charterers’ option via safe  anchorage(s),
safe berth(s), safe port(s),    always accessible, always afloat and
always within Institute Warranty Limits with lawful/harmless merchandise within
below mentioned trading limits, but always subject to Owners’s cargo/trading exclusions clause.

Charterers to have
liberty to sublet the vessel for all or any part of the time covered by this
Charter, but Charterers remaining responsible for the fulfillment of this
Charter Party. Accepance
of delivery by Charterers shall not constitute any waiver of Owners’
obligations hereunder. Vessel to be placed at the disposal of
the Charterers, at  on
completion of current employment and delivery formalities which expected to be
in  Gibraltar
14/15 December, 2004                                                                                                
                       
in such dock or at such wharf or place (where she may safely lie, always
afloat, at all times of tide, except as otherwise provided in clause
No. 6), as  the
Charterers may direct. If such dock, wharf or place be not available time to
count as provided for in clause No. 5. Vessel on her arrival first loadport of this
Charter delivery to be clean and ready to receive Charterers’ intended cargo
with clean-swept holds (in
case vessel’s
holds are not ready as specified by governmental or local independent surveyors, the
vessel will be placed off-hire
from the time of such failure until passing holds re-inspection and any
directly related expenses incurred thereby to be for Owners’ account) and
tight, staunch, strong and in every way fitted for the ordinary service,
having water ballast, winches and donkey boiler with sufficient steam power, or
if not equipped with donkey boiler, then other power sufficient to run all the
winches at one and the same time (and with full complement of officers, seamen,
engineers and firemen for a vessel of her tonnage), to be employed, in carrying
lawful merchandise, including petroleum or its products, in proper
containers, excluding see Clause 37                                                                                              (vessel
is not to be employed in the carriage of Live Stock, but Charterers are to have
the privilege of shipping a small number on deck at their risk, all necessary fittings
and other requirements to be for account of Charterers), in such lawful trades,
between safe port and/or ports in British North America, and/or United States
of America, and/or West Indies, and/or Central America, and/or Caribbean Sea, and/or
Gulf of Mexico, and/or Mexico, and/or South America Trading exclusions see
also Clause 67                               and/or Europe

 

 

and/or Africa, and/or
Asia, and/or Australia, and/or Tasmania, and/or New Zealand, but excluding
Magdalena River, River St. Lawrence between October 31st and May l5th, Hudson
Bay and all unsafe ports; also excluding, when out of season, White Sea, Black
Sea and the Baltic,  Charterers have the option to breach Institute Warranty
Limits, but always subject to Owners’ and Owners’ insurance Underwriters’ approval
which not to be unreasonably withheld and to pay additional premium.
                                                                                                                                                                                                                        

as the Charterers or
their Agents shall direct, on the following conditions:

1.             That the Owners
shall provide and pay for all provisions, wages and consular shipping and
discharging fees of the Crew and watchmen other than compulsory; shall pay
for the insurance of the vessel, also for all the cabin, deck, engine-room and
other necessary stores, including boiler water and maintain her class and keep the
vessel in a thoroughly efficient state in hull, cargo spaces, machinery and equipment
for and during the service.

2.             That whilst on hire the
Charterers shall provide and pay for all the fuel except as otherwise agreed,
Port Charges, Canal
tolls, compulsory Pilotages, Agencies, Commissions, Consular
Charges (except those pertaining to the Crew), and all other usual expenses
except those before stated, but when the vessel puts into a port for causes for
which Owners are vessel
is responsible, then all such charges incurred shall be paid
by the Owners. Fumigations ordered because of illness of the crew or cargoes carried prior to delivery to be
for Owners account. Fumigations ordered because of cargoes carried or ports
visited while vessel is employed under this charter to be for Charterers
account. All other fumigations to be for Charterers account after vessel has
been on charter for a continuous period of six months or more.

Charterers are to provide necessary dunnage and shifting boards, also
any extra fittings requisite for a special trade or unusual cargo, but Owners
to allow them the use of any dunnage and shifting boards and any other fittings already
aboard vessel. Charterers to have the privilege of using shifting boards for
dunnage, they making good any damage thereto.

3.             That
the Charterers, at the port of delivery, and the Owners, at the port of re-delivery,
shall take over and pay for all fuel remaining on board the vessel at the
current prices in the respective ports, the vessel to be delivered with not
less than
                                                                               tons
and not more than                            tons
and to be re-delivered with not less than                      tons
and not more than                     tons.
See Clause 35

4.             That the Charterers
shall pay for the use and hire of the said Vessel at the rate of USD 17,250 (Seventeen thousand, two hundred and fifty                                                                                                  Dollars) daily including overtime,
payable every 15
days in advance to Owners’
designated bank account United States Currency per ton on vessel’s
total deadweight carrying capacity, including bunkers and stores, on                                                     summer
freeboard, per Calendar Month, commencing on and from the time  day of her delivery, as
aforesaid, and at and after the same rate for any part of a day month; hire to continue until the time hour of the
day of her re-delivery in like good order and condition, ordinary wear and tear
excepted, to the Owners (unless lost) at  on dropping last outward sea pilot one safe port any time day
or night, Sundays  and holidays included Charterers’ option within following
ranges:

KANDLA/JAPAN RANGE including TAIWAN, THAILAND, INDONESIA, MALAYSIA,

UKC including full
MEDITERRANEAN SEA

BOSTON/BAHIA BLANCA
RANGE,

VANCOUVER/BALBOA RANGE,

GIBRALTAR/DOUALA RANGE

CAPE TOWN/MAPUTO RANGE

unless otherwise mutually
agreed.  Charterers are to give Owners approximate 30 days then not less than 20/15/10/5/3/2/1 days notice of vessels expected date of re-delivery, and
probable port.

5.             Payment of said
hire to be made in New York in cash in United States Currency, semi-monthly
15 days in advance, and for the last half month or
part of same the approximate amount of hire, and should same not cover the
actual time, hire is to be paid for the balance day by day, as it becomes due,
if so required by Owners, unless bank guarantee or deposit is made by the
Charterers, otherwise failing the punctual and regular payment of the

 

 

hire, or bank guarantee or deposit, or on any fundamental breach of
this Charter Party, the Owners shall be at liberty to withdraw the vessel from
the service of the Charterers, without prejudice to any claim they (the Owners)
may otherwise have on the Charterers. First hire payment to be paid within 3 (three) banking days
after delivery
(see also Clause 43). Time to count
from 7 a.m. on the working day following that on which written notice of
readiness has been given to Charterers or their Agents before 4 p.m., but
if required by Charterers, they to have
the privilege of using vessel at once, such time used to count as hire.

Cash for vessel’s
ordinary disbursements at any port may be advanced as required by the Captain and approved by Owners, by the Charterers or their Agents,
subject to 2 1/2% commission and such advances shall be deducted from the hire.
The Charterers, however, shall in no way be responsible for the application of
such advances.

6.             That the cargo or cargoes be laden
and/or discharged in any safe
dock or at any safe wharf or safe place
or safe anchorage in
port or elsewhere that Charterers or their Agents may direct,
provided the vessel can safely lie always afloat at any time of tide, except
at such places where it is customary for similar size vessels to safely lie
aground.  Re: NAABSA see Clause 67

7.             That
the whole reach of the Vessel’s Hold, Decks, and usual places of loading (not
more than she can reasonably stow and carry), also accommodations for
Supercargo, if carried, shall be at the Charterers’ disposal, reserving only
proper and sufficient space for Ship’s officers, crew, tackle, apparel,
furniture, provisions, stores and fuel. Charterers have the privilege of
passengers as far as accommodations allow, Charterers paying Owners                             per
day per passenger for accommodations and meals. 
However, it is agreed that in case any fines or extra expenses are incurred
in the consequences of the carriage of passengers, Charterers are to bear such
risk and expense.  No  passengers allowed.

8.             That the Captain shall prosecute
his voyages with the utmost despatch, and shall render all customary assistance
with ship’s crew and boats. The Captain (although appointed by the Owners),
shall be under the orders and directions of the Charterers as regards
employment and agency; and Charterers are to load, stow, lash, unlash, secure and
trim and discharge the
cargo at their expense under the supervision of the Captain, who is to sign or when required by Charterers
authorise the Charterers or their Agents to
sign on his behalf Bills of Lading for cargo as presented, strictly in
conformity with Mate’s or Tally Clerk’s receipts. 

9.             That if the Charterers shall have
reason to be dissatisfied with the conduct of the Captain, Officers, or
Engineers, the Owners shall on receiving particulars of the complaint,
investigate the same, and, if necessary, make a change in the appointments.

10.           That the Charterers shall have
permission to appoint a Supercargo at Charterers’ risk and expenses, who shall
accompany the vessel and see that voyages are prosecuted with the utmost
despatch, said
supercargo to sign Owners’ L.O.I. for riding on board. He is to be
furnished with free accommodation, and same fare as provided for Captain’s
table, Charterers paying at the rate of USD 10.00 $1.00 per day. Owners
to victual Pilots and Customs Officers, and also, when authorized by Charterers
or their Agents, to victual Tally Clerks, Stevedore’s Foreman, etc., Charterers
paying USD 1350 lumpsum
per 30 calendar days or pro-rata at the current rate per
meal, for all such cables,
victualling and
entertainment.

11.           That the Charterers shall furnish the
Captain from time to time with all requisite instructions and sailing
directions, in writing, and the Captain shall keep a full and correct Log of
the voyage or voyages, which are to be patent to the Charterers or their
Agents, and furnish the Charterers, their Agents or Supercargo, when required,
with a true copy of daily deck
and engine Logs, showing the course of the vessel and distance
run and the consumption of fuel as well as revolutions of main
engine and velocity of and direction of wind and sea, all in English language.

12.           That the Captain shall use diligence
in caring for the cargo and for the
ventilation of the cargo.

13.           That the Charterers shall have the
option of continuing this charter for a further period of
                                                                                                                                                                                                    
                                                                                                  on
giving written notice thereof to the Owners or their Agents                    days
previous to the expiration of the first named term, or any declared option.

14.           That if required by Charterers,
time not to commence before                                       and
should vessel not have given written notice of readiness on or before                                       but
not later than 4 p.m. Charterers
or their Agents to have the option of cancelling this Charter at any time not later
than the day of vessel’s readiness.  

15.           That in the event of the loss of time
from deficiency and/or
default and/or strike of men or deficiency of stores, fire, breakdown or
damages to hull, machinery or equipment,

 

 

grounding,
detention by average accidents to ship or cargo, drydocking for the purpose of
examination or painting bottom, or by any other cause preventing the full
working of the vessel, the payment of hire shall cease for the time thereby
lost and all extra
directly related expenses may be deducted from hire; and if upon
the voyage the speed be reduced by defect in or breakdown of any part of her
hull, machinery or equipment, the time so lost, and the cost of any extra fuel
consumed in consequence thereof, and all extra directly related expenses shall be
deducted from the hire.

16.           That should the
Vessel be lost, money paid in advance and not earned (reckoning from the date
of loss or being last heard of) shall be returned to the Charterers at once.
The act of God, enemies, fire, restraint of Princes, Rulers and People, and all
dangers and accidents of the Seas, Rivers, Machinery, Boilers and Steam
Navigation, and errors of Navigation throughout this Charter Party, always
mutually excepted.

The vessel shall have the liberty to sail with or without pilots, to
tow and to be towed, to assist vessels in distress, and to deviate for the purpose
of saving life and property.

17.           That should any
dispute arise between Owners and the Charterers, the matter in dispute shall be
referred to three persons at London New York, one to be appointed by each of
the parties hereto, and the third by the two so chosen; their decision or that
of any two of them, shall be final, and for the purpose of enforcing any award,
this agreement may be made a rule of the Court. The Arbitrators shall be
commercial men. See
further Arbitration Clause 30.

18.           That the Owners
shall have a lien upon all cargoes, all sub-hire freight and all sub freights for
any amounts due under this Charter, including General Average contributions,
and the Charterers to have a lien on the Ship for all monies paid in advance
and not earned, and any overpaid hire or excess deposit to be returned at once.
Charterers will not suffer, nor permit to be continued, any lien or encumbrance
incurred by them or their agents, which might have priority over the title and
interest of the owners in the vessel.

19.           That all derelicts
and salvage shall be for Owners’ and Charterers’ equal benefit after deducting
Owners’ and Charterers’ expenses and Crew’s proportion. General Average shall
be adjusted, stated and settled in London, according to Rules 1 to 15, inclusive,
17 to 22, inclusive, and Rule F of York Antwerp Rules 1990 and subsequent amendments 1924,
at such port or place in the United States as may be selected by the carrier,
and as to matters not provided for by these  Rules, according
to the laws and usages at the port of New York. In such adjustment
disbursements in foreign currencies shall be exchanged into United States money
at the rate prevailing on the dates made and allowances for damage to cargo
claimed in foreign currency shall be converted at the rate prevailing on the
last day of discharge at the port or place of final discharge of such damaged
cargo from the ship. Average agreement or bond and such additional security, as
may be required by the carrier; must be furnished before delivery of the goods.
Such cash deposit as the carrier or his agents may deem sufficient as
additional security for the contribution of the goods and for any salvage and
special charges thereon, shall, if required, be made by the goods, shippers,
consignees or owners of the goods to the carrier before delivery. Such deposit shall,
at the option of the carrier, be payable in United States money and be remitted
to the adjuster. When so remitted the deposit shall be hold in a special
account at the place of adjustment in the name of the adjuster pending
settlement of the General Average and refunds or credit balances, if any, shall
be paid in United States money.

In the event of accident, danger, damage, or disaster,
before or after commencement of the voyage resulting from any cause whatsoever,
whether due to negligence or not, for which, or for the consequence of which,
the carrier is not responsible, by statute, contract, or otherwise, the goods, the
shipper and the consignee, jointly and severally, shall contribute with the
carrier in general average to the payment of any sacrifices,  looses,
or expenses of a general average nature that may be made or incurred, and shall
pay salvage and special charges incurred in respect of the  goods. If a salving
ship is owned or operated by the carrier, salvage shall be paid for as fully
and in the same manner as if such salving ship or  ships belonged to
strangers.  Charter
hire not contributable to General Average. General Average and Arbitration to
be settled in London in accordance with English law.

Provisions as to General Average in accordance with
the above are to be included in all bills of lading issued hereunder.

20.           Fuel used by the
vessel while off hire, also for cooking, condensing water, or for grates and
stoves to be agreed to as to quantity, and the cost of replacing same, to be
allowed by Owners.

21.           That as the
vessel may be from time to time employed in tropical waters during the term of this
Charter, Vessel is to be docked at a convenient place, bottom cleaned and
painted whenever Charterers and  Captain
think necessary, at least once in every six months, reckoning  from time of last painting, and payment of the
hire to be suspended until she is again in proper state for the service.

 

 

22.           Owners shall maintain the gear of the
ship as fitted, providing gear (for all cranes  derricks)
capable of handling lifts up to their maximum capacity in
accordance with the description clause three tons, also  providing
ropes, falls, slings and blocks.  If
vessel is fitted with derricks capable of handling heavier lifts, Owners are to
provide necessary gear for same, otherwise equipment and gear for heavier lifts
shall be for Charterers’ account. 
Owners also to provide on the vessel power
and electric light on deck and in cargo holds sufficient for night work in all
hold simultaneously  lanterns and oil for night work, and
vessel to give use of electric light when so fitted, but any additional lights
over those on board to be at Charterers’ expense.  The Charterers to have the use of any gear on
board the vessel.

23.           Vessel to work night and day, if
required by Charterers, and all cranes  winches
to be at Charterers’ disposal during loading and discharging; steamer  Charterers to provide one craneman  winchman per crane  hatch to work cranes  winches day and night,
as required. Charterers agreeing to pay officers, engineers, winchmen, deck
hands and donkeymen for overtime work done in accordance with the working hours
and rates stated in the ship’s articles. 
If the rules of the port, or labor unions, prevent crew from driving
winches, shore Cranemen  Winchmen to
be paid by Charterers.  In the event of a
disabled crane or cranes  winch or
winches, or insufficient power to operate cranes
winches, Owners to pay for shore engine, or engines, in lieu thereof, if
required, and pay any loss of time in proportion to the
number of working hatches and extra directly related expenses including standby
expenses, which Charterers undertake to keep to a minimum level
occasioned thereby.

24.           It is also mutually agreed that this
Charter in subject to all the terms and provisions of and all the exemptions
from liability contained in the Act of Congress of the United States approved
on the 13th day of February, 1893, and entitled “An Act relating to Navigation
of Vessels; etc.,” in respect of all cargo shipped under this charter to or
from the United States of America.  It is
further subject to the attached protective
clauses  following clauses, both  of which are to be
included in all bills of lading issued hereunder:

U.S.A. Clause Paramount

 

This bill of
lading shall have effect subject to the provisions of the Carriage of Goods by
Sea Act of the United States, approved April  16, 1936,
which shall be deemed to be incorporated herein, and nothing herein contained
shall be deemed a surrender by the carrier of  any of its rights or
immunities or an increase of any of its responsibilities or liabilities under
said Act.  If any term of this bill of
lading  be repugnant to said Act to any extent, such term shall be void
to that extent, but no further.

Both to Blame
Collision Clause

If the ship comes
into collision with another ship as a result of the negligence of the other
ship and any act, neglect or default of the  Master,
mariner, pilot or the servants of the Carrier in the navigation or in the management
of the ship, the owners of the goods carried hereunder will indemnify the
Carrier against all loss or liability to the other or non carrying ship or her
owners in so far as such loss or liability represents loss of, or damage to, or
any claim whatsoever of the owners of said goods, paid or payable by the other
or non carrying ship or her owners to the owners of said goods and set off,
recouped or recovered by the other or non carrying ship or her owners as part
of their claim against the carrying ship or carrier.

25.           The vessel shall no be required to
enter any ice-bound port, or any port where lights or light-ships have been or
are about to be withdrawn by reason of ice, or where there is risk that in the
ordinary course of things the vessel will not be able on account of ice to
safely enter the port or to get out after having completed loading or
discharging.

26.           Nothing herein stated is to be
construed as a demise of the vessel to the Time Charterers.  The owners to remain responsible for the
navigation of the vessel, insurance, crew, acts of pilots and
tugboats and all other matters, same as when trading for their
own account.

 

 

27.           A commission of 2 1/2 1.25 per
cent is payable by the Vessel and Owners to H.CLARKSON
& CO.LTD. LONDON                                                                                                                                                            on
hire earned and paid under this Charter, and also upon any continuation or
extension of this Charter.

28.           An address commission of 2 1/2 per
cent payable to                                                  on
the hire earned and paid under this Charter.

 

 

Clauses
29 through 83 are to be fully incorporated within the terms of this Charter
Party.

 

 

	
   

  	
  /s/ pr. Lauritzen
  Bulkers A/S

  
	
   

  	
  Jens Ditlev Lauritzen

  
	
   

  	
  President

  

 

 

This Charter Party is a computer generated copy of the NYPE (Revised
3rd October, 1946) form printed under licence from the Association of Ship
Brokers & Agents (U.S.A), Inc., using software which is the copyright of
Strategic Software Limited.

 

It 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.

 

 

ADDITIONAL CLAUSES TO M.V. “TOP EXPLORER”

TO BE RENAMED “GENCO EXPLORER”

CHARTER PARTY DATED 30TH NOVEMBER, 2004

 

29.           Additional Fittings

 

Charterers
to have the option of welding padeyes and angles, only at the places approved
by the Master at their own risk, arrangement and expense.

 

Charterers
to remove all padeyes and angles and restore and paint the welding points back
to the original condition upto Master’s satisfaction before redelivery, unless
Owners request Charterers to maintain same without removal, in which case
Charterers will be free from removing padeyes and angles. Charterers’ option to
leave the padeyes as is on redelivery against paying Owners USD 10.00 each.

 

30.           Arbitration

 

This
Charter Party shall be governed by English Law.  It is hereby agreed that all claims below USD
50,000 excluding interest and costs
shall be settled as per LMAA Small Claims Procedure 1989.

 

31.           Arrest

 

Should
the vessel be arrested during the currency of this Charter at the suit of any
person having or purporting to have a claim against or any interest in the
vessel, hire under this Charter Party shall not be payable in respect of any
period whilst the vessel remains under arrest or remains unemployed as a result
of such arrest and the Owners shall reimburse to the Charterers any expenditure
which they may incur under this Charter in respect of any period during which
by virtue of the operation of the Clause no hire is payable.

 

This
Clause shall not apply should the arrest be caused through any fault on the
part of the Charterers.

 

32.           Asian Gypsy Moth

 

Owners
guarantee that the vessel meets all U.S./Canadian plant and quarantine
regulations and has not called any Russian Pacific port since January 1997.

 

Furthermore,
Owners guarantee the vessel is free of any stage of gypsy moth life, be it in
the form of egg masses, larvae or live animals. Costs and consequences due to
vessel not being able to enter U.S./Canadian ports or not being passed for
loading by U.S./Canadian authorities on account of gypsy moth infestation to be
for Owners’ account.

 

1

 

33.           Bills of Lading

 

Charterers’
Bills of Lading to be used if required by Charterers without prejudice to the
terms and conditions of this Charter Party. No through Bills to be issued under
this Charter Party.

 

34.           Bulldozers

 

Charterers
to have the option to use the bulldozers in vessel’s holds, provided not
exceeding the tank top strength.

 

35.           Bunkers

 

Vessel
to deliver with bunkers as on board, which expected to be about 300 mt Intermediate
Fuel Oil and about 75 mt Marine Diesel Oil.

Bunkers
on redelivery to be about same quantities.

Bunker
prices both ends: USD 180.00 per metric ton IFO and USD 250.00 per metric ton
MDO.

 

Charterers’
option to bunker vessel prior delivery, provided not interfering with discharge
operations. 

 

Value
of delivery bunkers to be paid together with the first hire payment.

 

The
Charterers may deduct from last sufficient hire payment(s) the estimated cost
of bunkers on redelivery.

 

Charterers
are to provide the vessel with bunkers in accordance with ISO standard
8217:1996 RME25 and DMB grades, but if Charterers cannot supply bunkers within
said specifications Charterers shall have the option to supply respectively
RMF25 and DMA grades.

 

In
order to comply with the terms and conditions of the various bunker suppliers,
the sample to govern quality shall be the sample drawn by the supplier and
witnessed by the vessel’s Chief Engineer or surveyor appointed by the Owners.
Analysis of said sample in accordance with the recognized ISO test methods at a
mutually agreed reputable and dedicated laboratory shall be binding and
conclusive for both parties.

 

Quantity
supplied shall be finally determined by sounding of the tanks of the delivering
barge or by reading of meters at shore installation.

 

If
the bunker fuels supplied are proven to be unsuitable for burning in ship’s
engines or auxiliary engines, Owners shall not be held responsible for any
reduction in speed and/or increased consumption as per Charter Party.

 

2

 

Owners
and Charterers will work out a best possible solution to resolve if such proven
unsuitable bunkers have already been supplied on board, failing which Owners
have the right to order the vessel to de-bunker the unsuitable fuels remaining
on board at Charterers’ time and expenses at a time and place to be mutually
agreed between Owners and Charterers.

 

36.           Cargo Claims/ P & I Club

 

Owners
guarantee that the vessel is entered and shall remain entered in a Protection
and Indemnity Association which is a member of the Group of International P
& I Clubs for the duration of this Charter Party. Entry shall include, but
not to be limited to, ordinary cover for cargo claims.

 

Charterers
are not responsible for any accident or damage to or on board the vessel which
is normally covered with Owners’ Hull and Machinery policy, unless the damages
are caused by the Charterers or for which the Charterers are responsible.

 

In
the case of damage to and/or loss of cargo carried on the vessel in which
Owners’ and/or Charterers’ liability could be involved under the terms of this
Charter Party, as the case may be, the Owners and/or the Charterers shall be
asked to grant time extensions for suit in each and every occurrence which
should not be unreasonably withheld. The so granted extensions shall not
prejudice the ultimate responsibility of both parties. Liability for cargo
claims as between Charterers and Owners shall be apportioned as specified by
the Interclub New York Produce Exchange Agreement effective from 1996
and its subsequent amendments.

 

Owners’
P & I Club: Skuld,

Charterers’
P & I Club: North of England

 

37.           Cargo Exclusions

 

All
dangerous, hazardous, injurious, inflammable cargoes/goods/commodities as
listed in the latest IMO D.G. Code and/or any subsequent
modifications/amendments thereof, nuclear and radioactive cargo waste/material
or its products, nuclear isotopes, war materials, arms and ammunitions,
explosive materials, livestock/animals, mahogany logs, shavings, cotton, waste
paper, expellers, copra, pyrites, resin, asbestos, fishmeal, meat bone meal,
bones, hides of any kind, direct reduced iron ore, bulk borax, saltpetre,
dangerous chemicals, zinc ashes, naphtha, petroleum or its products, asphalt,
pitch (in bulk/drums), tar/bitumen or any of its products, ammonium nitrate
(except for fertilizer grade)/sulphate, creosoted goods, acids, calcium
carbide/chloride, hydrochloride, caustic soda, Indian coal, charcoal, motor
spirits, fuel, motor blocks and metal turnings/shavings/borings/cuttings and
all other unlawful commodities.

 

3

 

Charterers
are allowed to load a maximum 3 (three) cargoes of petcoke, 2 (two) cargoes of
salt and 2 (two) cargoes of scrap per annum. It is agreed that the combined
total number of the above cargoes shall be limited to 5 (five) per annum, and
subject to the following conditions:

 

Salt/Sulphur:

Salt/sulphur
cannot be carried consecutively and/or vice versa.

Same
cargo types (i.e. sulphur or salt alone) cannot be carried consecutively.
If such cargoes are carried as
the last cargo prior to redelivery, Charterers to pay additional hold cleaning expenses as per
salt/sulphur protective clauses.

 

If
scrap and petcoke are carried as the last cargo prior to redelivery, Charterers
to pay double for in lieu of cargo hold cleaning.

 

Ammoniun
nitrate is not allowed, but ammonium nitrate fertilizer grade of IMO Code 5.1
UN No. 2067 is allowed and always subject to Charterers fully complying with
the following conditions

 

Charterers
to strictly comply with the transportation/loading requirements of the cargo as
per IMO regulations.

 

Prior
to loading a certificate signed by Charterers and Shippers in favour of Owners
stating that all loading and transportation requirements according to IMO
regulations are fully complied with.

 

Any
additional trading certificate(s) required by vessel’s class and/or any
competent authorities pertinent to the carriage of this cargo on board,
including surveys if any, are for account of Charterers.

 

Ammonium
sulphate not allowed except fertilizer grade as per Appendix C of BC Code is
allowed. Any additional trading certificate(s) required by vessel’s class
and/or any competent authorities pertinent to the carriage of this cargo on
board, including surveys if any, are for account of Charterers.

 

Petcoke Protective Clause

 

Charterers
are at liberty carry only three shipments of petroleum coke (whether it be full
or part cargo) per annum, if exercised, on the following conditions:

 

a)                                      Petroleum coke mentioned herein only limited
to the type of non hazardous/non dangerous green delayed type and/or calcined
type.

 

4

 

b)                                     If Charterers exercise such option,
Charterers undertake to use holds as less as possible, provided vessel’s
stability/trim and stress permit.

 

c)                                      Such cargo to be
loaded/stowed/trimmed/discharged strictly according to latest IMO and/or any
other latest regulations/rules applicable to such cargo.

 

d)                                     Should any additional/special washdown of
holds before loading be required when loading this cargo is to be recommended/proposed/required
by Master, Charterers undertake to arrange the same at their time/expense.

 

e)                                      After discharge Charterers to arrange at
their expense/time any additional/special materials (including chemical)
required to carry out such holds treatment as the Master considers it
necessary.

 

f)                                        Any extra expenses resulting
therefrom/incurred thereby (such as hold cleaning to Master’s satisfaction/hold
surveys etc) and/or any detention through any of the above causes are for
Charterers’ account.

 

Salt Protective Clause

 

Charterers
are permitted to carry only two shipments of salt (whether it be full or part
cargo and cannot be a consecutive voyages after carrying sulphur), per annum,
if exercised on the following conditions:

 

a)                                      Charterers undertake to use holds as less as
possible provided vessel’s stability trim and stress permitting.

 

b)                                     Before loading all holds assigned for salt
are to be washed down by fresh water and painted (if requested by Master) by
Charterers at their time/expense/risk to the entire satisfaction of the Master
and independent surveyors appointed by Charterers at their time/expense.

 

c)                                      Cargo is to be
loaded/stowed/trimmed/discharged strictly according to latest IMO and/or any
other latest regulations/rules applicable to such cargo.

 

d)                                     All freshwater used for irrigation onto salt
during loading voyage/discharging are for Charterers’ account.

 

e)                                      After discharge Charterers undertake thorough
cleaning of holds, including repainting and to supply sufficient fresh water at
their expense for washing down of all holds to the satisfaction of the Master.

 

5

 

f)                                        Any extra expenses resulting
therefrom/incurred thereby (such as hold cleaning to Master’s satisfaction/hold
survey etc) and/or any detention through any of the above causes to be for
Charterers’ account.

 

g)                                     Charterers are allowed to use ship’s crew to
perform painting and repainting as necessary against the payment of USD 500 per
hold which is in addition to the normal intermediate hold cleaning, but always
subject to prior consent of the Owners/Master/crew and local regulations
permitting and all time used/expenses incurred are for Charterers’ account. The
Owners/Master are not held responsible for passing hold cleanliness for loading
next cargo and for any consequences caused due to such arrangement.

 

Sulphur Protective Clause

 

Charterers
are permitted to carry only one shipment of sulphur (whether it be full or part
cargo and cannot be a consecutive voyage after carrying salt) per annum, if
exercised, on the following conditions:

 

a)                                      Charterers undertake to use holds as less as
possible provided vessel’s stability trim and stress permit.

 

b)                                     Before loading all holds assigned for sulphur
are to be washed down by fresh water and then painted (if requested by Master)
by Charterers at their time/expense/risk to the entire satisfaction of the
Master and independent surveyors appointed by Charterers at their time/expense.

 

c)                                      Cargo is to be
loaded/stowed/trimmed/discharged strictly according to latest IMO and/or any
other latest regulations/rules applicable to such cargo.

 

d)                                     All freshwater used for irrigation onto
sulphur during loading/voyage/discharging to be for Charterers’ account.

 

e)                                      After discharge Charterers undertake thorough
cleaning of holds, including repainting (if requested by Master) and to supply
sufficient fresh water at their expense for washing down of all holds to the satisfaction
of the Master.

 

f)                                        Any extra expenses resulting
therefrom/incurred thereby (such as hold cleaning to Master’s satisfaction/hold
survey etc) and/or any detention through any of the above causes are for
Charterers’ account.

 

6

 

g)                                     Charterers are allowed to use ship’s crew to
perform painting and repainting as necessary against the payment of USD 500 per
hold which is in addition to the normal intermediate hold cleaning, but always
subject to prior consent of the Owners/Master/crew and local regulations
permitting and all time used/expenses incurred are for Charterers’ account. The
Owners/Master are not held responsible for passing hold cleanliness for loading
next cargo and for any consequences caused due to such arrangement.

 

Cement Protective Clause

 

Charterers
are permitted to carry only one shipment of bulk cement per annum under this
Charter. Charterers are also responsible for the following

 

	
  i)

  	
   

  	
  Well protection to the
  bilge well of all holds to keep smooth suction while discharging hold washing
  water by using gum tapes (plasters) or so.

  
	
   

  	
   

  	
   

  
	
  ii)

  	
   

  	
  Removal of all cargo
  solidification due to hold sweating which is impossible to avoid by operation
  of the ventilation system.

  
	
   

  	
   

  	
   

  
	
  iii)

  	
   

  	
  Washing down of all holds
  by fresh water immediately after discharge.

  
	
   

  	
   

  	
   

  
	
  iv)

  	
   

  	
  Providing submerge pump to
  pump out all water in the holds after washing.

  

 

Silica Sand, Ferro Silicon and Soda Ash Clause

 

Owners
are in any event not responsible for the hold condition for loading ferro
silicon and/or silica sand and/or soda ash. If the vessel cannot pass the hold
inspection at loading port(s), all time/expenses are for Charterers’ sole
account.

 

Concentrate Clause

 

For
loading concentrates, the stowage to be within vessel’s strength. All necessary
separation if required to be properly erected up to surveyor’s and Master’s
satisfaction at Charterers’ expense and time and cargo to be loaded, stowed,
separated, trimmed and discharged etc. According to the latest IMO and other
authorities’ regulations. At Master’s request Charterers to allow Owners to
appoint P & I surveyor or independent surveyor to supervise loading,
stowing, execution of separation etc., to surveyor’s agreement and Master’s
satisfaction at Charterers’ time and expenses.

 

7

 

Before
loading concentrates Charterers to supply vessel Shipper’s certificate of flow
moistures content evidencing cargo compliance with the latest IMO regulations,
after loading cargo must be properly trimmed at Charterers’ time and expenses
to surveyor’s and Master’s satisfaction.

 

Deck Cargo Clause

 

Deck
cargo, if any, to be at Charterers’ risk, time and expenses including lashing,
unlashing and securing basis:

 

a)                                      Deck cargo, if any, to be loaded strictly in
conformity with cargo exclusion terms.

 

b)                                     Deck cargo to be loaded upto Master’s satisfaction
and fully in accordance with vessel’s specification as to trim, stability and permissible
strength.

 

c)                                      All Bills of Lading issued for deck cargo to
be marked “Carried on deck at Shippers’ entire risk”.

 

d)                                     Vessel/Owners/Carriers will not be responsible
for the damage and/or loss and/or wash away of the deck cargo.

 

e)                                      Owners are not responsible for loading of
deck cargo and numbers of pieces stated in the Bills of Lading.

 

Pig Iron Clause

 

Charterers
undertake that loading of the first layer of pig iron will not be released
until touching tanktop and will not be dumped/dropped during loading. First
layer of pig iron is to be loaded, stowed, trimmed to the satisfaction of the
Master before loading balance of cargo.

 

Scrap Protective Clause

 

Charterers are permitted to carry only two shipments of scrap per
annum, if exercised, on the following conditions:

 

a)                                      The scrap mentioned herein only limited to
shredded scrap including HMS 1 + 2 must be non-oily and always excluding motor
blocks and turnings and also excluding metal borings and cuttings.

 

b)                                     Charterers undertake to use as few holds as
possible provided the vessel’s stability and stress permit.

 

8

 

c)                                      Charterers undertake that loading of the
first layer of scrap will not be released until touching tanktop and will not
be dumped/ dropped during loading. First layer of scrap is to be loaded,
stowed, trimmed to the satisfaction of the Master before loading balance of
cargo.

 

d)                                     Any extra expenses resulting
therefrom/incurred thereby and/or any detention through any of the above causes
are for Charterers’ account.

 

e)                                      Damage to the vessel caused by scrap, the
liability of the Charterers are to be determined by pre-loading and
post-discharging surveys. Such surveys are for Charterers’ account.

 

HBI Protective Clause

 

The
Charterers have the option to load a maximum of one cargo BHP HBI ex Port
Hedland, whether it be full or part cargo of HBI (hot briquetted iron) per
annum, if exercised the following conditions apply:

 

a)                                      Only cargo of HBI from BHP’s HBI plant in
Port Hedland, Australia is allowed.

 

b)                                     Charterers should exert every effort to ship
such cargo for destination within the Far East area.

 

c)                                      Shipment of HBI cannot be a consecutive
voyage after carrying salt or sulphur.

 

d)                                     Such cargo cannot be the last cargo prior to
the redelivery.

 

e)                                      The Charterers undertake to use the least
number of holds as possible provided the vessel’s stability, trim and stress
permit.

 

f)                                        Before loading commences the Charterers at
their time, risk and expense shall provide to the Owners and the Master for all
the necessary certificates issued by a competent person as to the stability and
suitability of the cargo for carriage, whether required by the IMO BC Code
and/or by the competent authorities of the countries concerned.

 

A
competent person, the appointment to be mutually agreed between Owners and
Charterers, is an independent person or body recognized by the national
administration of the country of shipment to be competent in the relevant
certification.

 

9

 

The
Charterers undertake to provide to the competent authorities with the
information as regards to the cargoes sheltered nature, storage period, storage
condition and its temperature before loading, length, duration or any other
applicable conditions of any specific voyage.

 

g)                                     Before loading commences the Charterers at
their time, risk and expense shall obtain from the Shipper the certificate that
the cargo material conforms with the requirements of the IMO BC Code.

 

h)                                     The Owners, at the Charterers’ time, risk and
expense, shall have the liberty to appoint the local P & I correspondent to
supervise either the whole cargo loading or discharging operation.

 

i)                                         The Charterers warrant that the cargo is to
be loaded/stowed/segregated/trimmed/discharged strictly in accordance with the
latest IMO BC Code and/or any other latest national and international
regulations/rules applicable to such cargo.

 

j)                                         The Charterers further guarantee that the
stevedores are to be provided with the loading, stowing and discharging
requirements of the HBI cargo and see these requirements are strictly followed.
Charterers are ultimately responsible for any loss/damage/consequences due to
disintegration of the briquettes by starting loading in a customary manner
which is slow loading initially then normal speed thereafter.

 

k)                                      The Master, at his sole discretion shall have
the right to reject the cargo which does not conform with the IMO BC Code.

 

l)                                         The Owners and the Master shall have the
discretion to suspend the cargo
operation and close the hatches in consideration of the prevailing weather
condition or the weather forecast. The suspension of cargo operation remains
Charterers’ time.

 

m)                                   The Charterers undertake to thoroughly clean
all holds used, twice with salt water and final wash by fresh water immediately
after discharge. The fresh water so required for washing down all holds is to
be supplied by the Charterers at their expense.

 

n)                                     The Charterers may alternatively request the
vessel’s crew, subject to Master’s agreement, to render customary assistance in
cleaning all cargo compartments as required under m) above paying USD 800 per
used hold which is additional to the normal intermediate hold cleaning
stipulated under Clause 51 of this Charter Party.

 

10

 

Notwithstanding
the above, all intermediate hold cleaning are at Charterers’ time/expense/ risk
and responsibility and in any case Owners are not responsible for passing cargo
hold cleanliness inspection.

 

o)                                     The Owners/Master shall have the option to
deviate, make for a port of refuge and seek assistance should the Master
suspect a serious abnormality in the temperature of the cargo during the voyage
or any damages that may cause the potential hazard to the cargo and/or the
common interests in the vessel.  The
deviation of such shall be for Charterers’ time, risk and expense.

 

p)                                     In case of any dispute arising out of cargo
operations, Owners’ independent
P & I representative is to be deemed the final ruling and the cost of the
Owners’ P & I representative is to be paid and borne by the Charterers.

 

38.                                 Certificates/Vaccinations

 

Owners
are obliged to deliver and maintain throughout the currency of this Charter
Party the vessel, her crew and anything pertaining hereto supplied with
up-to-date and complete certificates (including Oil Pollution Certificates),
approvals, equipment and fittings enabling the vessel and her crew to trade
within the trading limits and to load, carry and discharge all cargoes
permitted under this Charter Party.

 

Officers
and crew to comply with vaccination and sanitary regulations in all ports of
call and corresponding certificates to be available onboard, enabling the
vessel to obtain radio free pratique.

 

If
requested, Owners to provide Charterers with copies of any
certificates/approvals.

 

Any
time lost and all extra directly related expenses resulting from Owners’
non-compliance with the above to be for Owners’ account and may be deducted
from hire.

 

11

 

39.           Crew Service

 

With
reference to Clause 8 of this Charter Party “customary assistance” shall
include but not be limited to:

 

a)                                      All opening and closing of hatches, when and
where required, if permitted by local regulations.

 

b)                                     Raising and lowering of derricks and rigging
cranes, if fitted, and/or gangways in preparation for loading and discharging.

 

c)                                      Shaping up vessel’s holds/hatches and cranes,
if fitted, as much as possible prior arrival at loading and/or discharging
places so as to immediately commence loading and/or discharging operations
subject to weather conditions and the safety of the crew.

 

The
above services shall be considered as a minimum and shall in no way be construed
as an alternative to or reduction in the standard of services from Officers and
crew generally required under this Charter Party.

 

40.           Logs Loading Clause

 

Vessel
is fitted for loading logs and vessel has log loading equipment such as lashing
material for full cargoes on deck upon delivery and vessel to maintain same in
good working order throughout the timecharter period.

 

The
vessel’s Officers and crew shall perform extra work, if so requested by the
Charterers and approved by Owners such as erecting stanchions, lashing,
relashing or unlashing of cargo, including cargo mark-off for separation of
cargo or collecting, restowing and positioning of dunnage and/or lashing
materials etc., as on board.

 

Such
work to be done against crew compensation of USD 3000 per voyage which to be
paid directly to Owners’ bank account by Charterers.

 

Charterers
to pre-advise Owners as early as possible of any intention to load logs.

 

41.           Deductions

 

Charterers’
option to deduct estimated Owners’ disbursements and bunkers on redelivery from
last sufficient Charter hire, but always up to a maximum of USD 1000 per port
of call.

 

12

 

Charterers
to settle Owners’ outstanding disbursement account within 3 months after
redelivery and against port Agents’ original vouchers.

 

42.           Delivery of Cargo against
Letter of Indemnity

 

In
case the original Bill(s) of Lading not available upon vessel’s arrival at
discharging port, Owners/Master, if so requested by Charterers to release the
entire cargo against Charterers’ Letter of Indemnity which complies with Owners’
standard P & I Club wording/format. Original copy of Letter of Indemnity to
be sent to Owners’ office by courier services after being sent by fax.

 

Should
Charterers require vessel to change discharging port after Bills of Lading have
been issued, Owners to comply with such instructions upon receipt of a faxed
copy of a single Letter of Indemnity signed by Charterers only and issued in
conformity with Owners’ standard P & I Club form.

 

When
and if required Charterers may place one original Bill of Lading on board,
against which Bill of Lading delivery of cargo to take place on instructions
received from Shippers/Charterers and all original Bills of Lading to be marked
accordingly.

 

43.           Delivery/Redelivery Time

 

Delivery
and redelivery time to be based on local time, but hire calculation to be based
on Greenwich Mean Time.

 

44.           Description Clause 

 

See
Appendix A

 

45.           Bimco Double Banking Clause

 

a)                                      The Charterers shall have the right, where
and when it is customary and safe for vessels of similar size and type to do
so, to order the vessel to go, lie or remain alongside another vessel or
vessels of any size or description whatsoever or to order such vessels to come
and remain alongside and such safe dock, wharf, anchorage or other place for trans-shipment,
loading or discharging of cargo and/or bunkering.

 

b)                                     The Charterers shall pay for and provide such
assistance and equipment as may be required to enable any of the operations mentioned
in this clause safely to be completed and shall give the Owners such advance
notice as they reasonably can of the details of any such operations.

 

13

 

c)                                      Without prejudice to the generality of the
Charterers’ rights under (a) and (b) it is expressly agreed that the Master
shall have the right to refuse to allow the vessel to perform as provided in
(a) and (b) if in his reasonable opinion it is not safe so to do The Master has
the right at any time to order the other vessel away from his vessel or
instruct his own vessel to sail if he considers it unsafe for vessel to remain
double banked.

 

d)                                     The Owners shall be entitled to insure any
deductible under the vessel’s hull policy and the Charterers shall reimburse
the Owners any additional premium(s) required by the vessel’s Underwriters
and/or the cost of insuring any deductible under the vessel’s hull policy.

 

e)                                      The Charterers shall further indemnify the
Owners for any costs, damage and liabilities resulting from such operation. The
vessel shall remain on hire for any time lost including period for repairs as a
result of such operation.

 

46.           Houseflag/Markings

 

The
Charterers shall have the liberty of flying their own house flag.

 

47.           ITF/Boycott

 

Owners
warrant that the vessel’s crew is and will be during the period of this Charter
Party employed under a bona fide agreement, the standard of which is fully
acceptable to the I.T.F. and Unions in all countries not excluded in this
Charter Party.

 

In
the event of the vessel being denied or restricted in the use of port and/or
loading and/or discharging facilities or shore labour and/or tug or pilotage
assistance or of any other restriction, detention or any loss of time
whatsoever due to boycott or arrest of the vessel or due to government
restrictions, all caused by the vessel and/or by reason of the terms and
conditions on which members of the crew are employed or by reason of any
trading of this or any other vessel under same ownership or operation or
control, the payment of hire shall cease for the time thereby lost and all
extra directly related expenses incurred due to above are to be for Owners’
account and may be deducted from hire.

 

14

 

48.           In Lieu of Hold Cleaning

 

Charterers
shall have the option of redelivering the vessel without cleaning of holds
against paying the Owners a lumpsum of USD 4,000 in lieu of such cleaning
including dunnage removal/disposal, payable together with the hire payment to
Owners’ designated bank account.

 

49.           Inspection

 

The
Charterers and/or their supercargo(es) shall have free and unlimited access to
the whole vessel including but not limited to bridge, holds, engine room, all
vessel’s tanks including bunker, lubricating oil, sludge, ballast water, fresh
water tanks. Whenever required the Master must bring the vessel to an even trim
to ensure correct bunker soundings. The Charterers and/or their supercargo(es)
and/or surveyor(s) to have free and unlimited access to the vessel’s deck and
engine log books, tank plans, calibration scales and/or other plans as
requested and are allowed to make copies of same.

 

50.           Insurance

 

Premium
for basic war risks insurance on hull and machinery and Officers/crew to be for
Owners’ account. Any additional premium nett of all rebates in respect of these
risks solely arising from the vessel proceeding at the Charterers’ request to
areas designated as excluded areas by war risks Underwriters to be for
Charterers’ account, however not to exceed what would have been quoted or
charged if the vessel was covered on the London market. If Owners have not
covered basic war risks insurance, Charterers only to pay the differential as
if the Owners were covered and only against presentation of Underwriters’
original invoice. Crew bonus for trading into these areas to be for Charterers’
account.

 

51.           Intermediate Hold Cleaning

 

Vessel’s
crew shall render customary assistance in cleaning cargo holds in preparation
for next cargo if required by Charterers and if not prevented by shore
regulations. Such cleaning to be performed provided this can be safely done,
weather permitting. Charterers shall pay USD 450 per hold actually cleaned
including dunnage removal/disposal, if any. In any case Owners are not
responsible for passing hold survey for loading of next cargo during the entire
period. The work to be done in the same efficient manner as if the vessel was
trading for Owners’ account, but without responsibility and liability on part
of Owners regarding acceptance of vessel at loading port if vessel is rejected
due to previous cargo(es) carried under this Charter Party. All fresh water
used for hold cleaning to be for Charterers’ account.

 

15

 

52.           Laying up/Return Insurance

 

Charterers
shall have the right to order the laying up of the vessel at any time and for
any period of time at a safe berth or anchorage and in the event of such lay up
the Owners shall promptly take steps to effect all the economies in operating
costs, including insurance, which may be possible and give prompt credit to the
Charterers in respect of all such economies. At the request of the Charterers
the Owners shall at any time provide an estimate of the economies which would
be possible in the event of laying up of the vessel. 

The
Charterers to have the benefit of any return insurance premium received by the
Owners from their Underwriters as and when received by reason of the vessel
being in port for minimum 30 (thirty) days, provided the vessel is fully on
hire.

 

53.           Loading of Steel

 

Steel
cargoes to be sufficiently dunnaged/lashed/secured and unlashed/unsecured at
Charterers’ expense and in their time by stevedores under the supervision of
the Master and up to his satisfaction.

Owners
to appoint P & I surveyor to carry out a pre-loading survey and cost of
same to be shared equally by Owners and Charterers.

 

54.           Notices

 

Owners
to keep Charterers informed about vessel’s position and delivery to the
Charterers.

 

55.           Off-Hire

 

Should
the vessel put back whilst on voyage by reason of an accident or breakdown or
in the event of loss of time either in port or at sea or deviation upon the
course of the voyage caused by sickness of or accident to the crew or any
person on board the vessel (other than passengers or supercargo travelling by
request of the Charterers), or by reason of the refusal of the Master or crew
to perform their duties, or by reason of salvage or oil pollution, even if
alleged, or capture/seizure or detention by any authority/legal process except
if caused by Charterers, the hire shall be suspended from the time of
inefficiency until the vessel is again efficient in the same or equidistant
position in Charterers’ option and voyage resumed therefrom. All extra directly
related expenses incurred including bunkers consumed during period of suspended
hire shall be for Owners’ account.

 

The
Charterers may, in their option, partly or wholly add any off hire period(s) to
the timecharter period.

 

16

 

 

During any off-hire period estimated to exceed 8 days, the Owners to
give the Charterers not less than 5 days definite notice of resumption of the
service.

 

If the vessel has been off-hire for a period of more than 30 days, the
Charterers are at liberty to cancel the balance of this Charter Party, in which
case redelivery shall take place upon vessel being free of cargo, irrespective
of redelivery ranges.

 

56.           Oil Pollution

 

Owners guarantee to provide and maintain during the entire timecharter
period at their expense and carry on board the vessel a valid U.S. Certificate
of Financial Responsibility. Owners also guarantee to have secured current
certificates for other countries/federal states or municipal or other division
or authority thereof, where guarantees are required. All such certificates to
be valid throughout the entire timecharter period.

 

The Charterers shall in no case be liable for any damage as a result of
the Owners’ failure to obtain the aforementioned certificates. Time lost by
non-compliance to be considered as off-hire and may be deducted from hire and
Owners hold Charterers harmless against any consequential losses, damages or
expense.

 

57.           On/Off-Hire Survey

 

A joint on/off bunker and condition survey to be carried out by a
mutually agreed surveyor. Time and cost of same to be equally shared between
Owners and Charterers.

 

58.           Panama/Suez Canal

 

Owners warrant that the vessel is fitted for the transit of the Suez
and Panama Canal. Should the vessel not meet these or other canal requirements,
Charterers may suspend hire for all time thereby lost and Owners to pay all
expenses resulting from such failure as a consequence thereof.

 

59.           Deleted.

 

60.           Power Clause

 

The vessel to supply free of expense to Charterers’ account 440 volt 3
phase 60 cycles and 40 kva per crane from engine room switchboard, provided
that such crane cannot be used for cargo operation. Forklift
trucks/bulldozers/grabs/magnets etc., shall be allowed to be used in the holds
if necessary, but always subject to vessel’s permissible strength.

 

17

 

Charterers have the right to fit magnets or other loading/discharging
equipment customary to the trade onto vessel’s cranes subject to vessel’s
lifting capacity.

 

61.           Protective Clauses

 

The New Both-to-Blame Collision Clause, The New Jason Clause, Baltic
Conference War Risks Clause for Timecharters 1993 (Code name Conwartime 1993),
P & I Bunkering Clause and Hague Rules Legislation, as applicable and
attached are all to be considered as part of this Charter Party and all Bills
of Lading issued under this Charter shall be subject to all said clauses and
contain Voywar 1993.

 

The USA/Canadian Clause Paramount as applicable or the Hague Rules as
enacted in countries other than the USA or Canada as applicable to be
incorporated in all Bills of Lading, except where Hamburg Rules are mandatory.

 

62.           Punctual Payment

 

Referring to lines 60 and 61, where there is any failure to make
“punctual and regular payment” due to errors or omission of Charterers’
employees, bankers or Agents or otherwise for any reason where there is absence
of intention to fail to make payment as set out, Charterers shall be given by
Owners 3 banking days notice to rectify the failure and where so rectified the
payment shall stand as punctual and regular payment.

 

63.           Sea Carrier Initiative Agreement

 

Owners and Charterers confirm that they are both signatories to the Sea
Carrier Initiative Agreement in order to co-operate with the U.S. Customs
Service in the fight against the drug menace.

 

64.           Smuggling

 

Owners to be free from responsibility for any consequences owing to
smuggling, unless caused by vessel’s Officers and/or crew or Owners’ servants.

 

18

 

65.           Stevedore Damage

 

Should any damage be caused to the vessel or her fittings by the
Charterers or their stevedores the Master is to

 

a)                                      Give written notice to the Charterers as soon
as practicable after occurrence of particulars available of the damage caused
and name of the party allegedly responsible for the damage.

 

b)                                     Promptly, but latest within 24 hours, give
written notice to the party allegedly responsible, giving particulars available
of the damage and its alleged cause and where possible try to obtain the
written acknowledgement of liability from such party, or failing that, try to
obtain the acknowledgement of receipt of such notice.

 

c)                                      As soon as practicable arrange, in
conjunction with Charterers’ Agents, for the damage to be surveyed and an
estimate of the repair costs given.

 

Failing the aforementioned the Charterers are not to be responsible for
such damage and/or loss of time, except for hidden damage which must be
attended to as per the above procedure as soon as discovered, but latest upon
completion of the voyage in question.

 

Charterers shall have the liberty to redeliver the vessel without
repairing the damages for which Charterers are responsible as long as same does
not affect the vessel’s sea and cargo worthiness, but Charterers undertake to
reimburse costs of repairs against production of repair bill by repairers
and/or dockyard, unless otherwise mutually agreed. Stevedore damages affecting
the vessel’s sea and cargo worthiness for which Charterers are liable to be
made good to the satisfaction of the class surveyor immediately at Charterers’
time and expense.

 

66.           Taxes

 

Taxes and/or dues and/or charges whatsoever imposed on cargo by any
local or national authorities arising out of trade under this Charter Party to
be borne by Charterers. Taxes levied by governments other than that of Owners’
domicile or vessel’s flag on earnings under this Charter Party other than the
hire payable to Owners shall be for Charterers’ account.

 

19

 

67.           Trading Exclusions

 

The vessel is to be employed in lawful trades for the carriage of
lawful merchandise only between good and safe berths, ports or areas where the
vessel can safely lie always afloat, except at such places in
Argentina/Brazil/Uruguay/Buenaventura/River Belt area Nigeria (Lagos/Port
Harcourt/Calabar) where it is customary for the similar size and dimensions of
vessels to safely lie aground, which is always at Charterers’ risks and subject
to the permissible/prevailing draft at entrance of the NAABSA port declared by
port authorities/pilot and always subject to the discretion of Master.

 

NAABSA trading at any other place not listed above to be subject to
Owners’ and Owners’ hull Underwriters’ prior approval which not to be
unreasonably withheld. The Charterers are to furnish the Owners with all
relevant information of the port/s in question with conditions.

 

The vessel is to be employed within IWL especially excluding Russian
Pacific ports (as long as the present regulations in the trading countries,
including but not limited to Canada and U.S.A apply restricting vessels trading
there after calling Russian Pacific ports), Cambodia, Turkish occupied Cyprus,
Kuwait, Iraq, Somalia, Yemen, Ethiopia, Israel and Israelian controlled
territories, Lebanon, Syria, Libya (including Gulf of Sidre/Sirte), Congo
(Democratic Republic of formerly Zaire), Liberia, Sri Lanka, Sierra Leone,
Eritrea, Angola (including Cabinda, Haiti, Cuba, Burma (Myanamar), North Korea,
Sudan, Syria, Albania, former Yugoslavia unless allowed by United Nations and
approved by Owners’ P & I Club (but Slovenia and Croatia allowed), all war,
warlike and war risk zones declared from time to time by the London War
Committee on war risk trading warranties The vessel is not allowed at any time
to trade to the ports/areas which are prohibited from trading by the United
Nations and/or international organization of the U.N. and/or the authorities of
the country under which flag the vessel is flying. No direct sailing between
mainland China and Taiwan, between South and North Korea. Vessel cannot call
Babo (Indonesia) for loading logs.

 

If vessel calling Yemen, Lebanon, Iran, Congo, Libya it will be subject
Owners’/ Owners’ P & I prior approval, which should not be unreasonably
withheld.

 

Charterers’ option to breach IWL but always subject to Owners’ and
Owners’ insurance Underwriters’ approval against paying additional premium.

 

20

 

Charterers’ option to breach war risk warranty subject Owners’ and
Owners’ insurance Underwriters’ approval against paying additional premium and
crew war bonus according to ITF scale. Owners’ approval should not be
unreasonably withheld. Charterers permission to proceed via Suez/Red Sea
without obtaining Owners’ prior approval, but additional premium for
Charterers’ account.

 

Should the political situation in any of the excluded countries change
to the extent that trading vessel to countries in question becomes acceptable
and usual practice, Owners to consider any request from the Charterers to trade
such countries, however always subject to Owners’ approval.

 

68.           U.S. Trade - Unique Bill of
Lading Identifier Clause

 

The Charterers warrant that each transport document accompanying a
shipment of cargo destined to a port or place in the United States of America
shall have been endorsed with a unique Bill of Lading identifier as required by
the U.S. Customs Regulations (19 CFR Part 4 Section 4. 7.A) including
subsequent changes, amendments or modifications thereto, not later than the
first port of call.

 

Non compliance with the provisions of this Clause shall amount to
breach of warranty for the consequences of which the Charterers shall be liable
and shall hold the Owners harmless and shall keep them indemnified against all
claims whatsoever which may arise and be made against them.

 

Furthermore, all time lost and all expenses incurred including fines as
a result of the Charterers’ breach of the provisions of this Clause shall be
for the Charterers’ account.

 

69.           Warranties

 

Owners warrant that the vessel

 

•                                          is not blacklisted by Arab countries nor
anywhere else within the agreed trading limits

 

•                                          has not traded Cambodia, Cuba, Israel and
North Korea

 

•                                          is eligible for bunkers in the United States
of America, its territories and possessions in accordance with directives from
the United States Department of Commerce, Office of International Trade.

 

21

 

70.           Hold Cleanliness

 

See line 22 of printed form

 

71.           Weather Routing

 

The Charterers may supply an independent weather bureau advice to the
Master during voyages specified by the Charterers and the Master shall comply
with the reporting procedures of the weather bureau, however the Master remains
responsible for the safe navigation and choice of route.

 

Evidence of weather conditions shall be taken from the vessel’s deck
logs and independent weather bureau’s reports. In the event of a consistent
discrepancy between deck logs and the independent weather bureau’s reports, the
independent bureau’s reports shall be taken as ruling.

 

72.           Drydocking Clause

 

Charterers shall upon receipt of minimum 30 days notice from the Owners
agree to release the vessel from their employment free of cargo for the purpose
of drydocking. Owners to respect Charterers’ trading pattern and accept to take
the vessel in between Charterers’ scheduled employment wherever this may be.
The actual drydocking place, port to be Owners’ choice. Vessel is to go
off-hire at the time/place where she deviates from her course and to go on-hire
when she is again ready at Charterers’ disposal in the same or equidistant
position at Charterers’ option as when she went off-hire. If vessel is to
drydock at a port where Charterers are loading/discharging/bunkering her, then
vessel to go off-hire on leaving load/discharge/bunker place and to go on-hire
again on leaving drydock.

 

All bunkers consumed during off-hire are for account of Owners. Unless
otherwise agreed, Owners to deliver vessel to Charterers after drydocking with
same quantity of bunkers on board as when she was redelivered to Owners.

 

73.           Hose Test Clause

 

Charterers have the right to carry out any test including but not
limited to ultrasonic test, hose test and chalk test on hatch covers during the
entire period of the Charter.

 

22

 

74.           Bimco War Cancellation
Clause

 

Either party may cancel this Charter Party on the outbreak of war or
hostilities between any two or more of the following countries: the United
States of America, Russia, the United Kingdom, France, People’s Republic of
China.

 

75.           Grab Fitting/Operation
Clause

 

Charterers have the option of fitting vessel with grabs at their time
and expense. The initial fitting of grabs are to be at Charterers’
expenses/risk and stowage to be in accordance with class/Owners’ approval.
Owners shall not be responsible for any losses or damages caused to the grabs
placed on board the vessel by the Charterers and all grab fittings to be
removed and all welding points to be restored to the original condition upto
Master’s satisfaction by the Charterers prior to redelivery.

 

Grabs and its accessories fitted on board to remain Charterers’
property. The Owners undertake to maintain the grabs and its accessories as per
instruction manual. Master to forward details report every 3 months as to the
condition of grabs and maintenance performed since last report. Charterers to
pay USD 500 per month to Owners’ bank account for the above mentioned works.
Charterers undertake to pay all expenses in respect of repair and maintenance
of the grabs and Owners not to be responsible for any breakdown.

 

76.           Deleted.

 

77.           Bimco Standard ISM Clause

 

From the date of coming into force of the International Safety
Management (ISM) 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 ISM Code) shall comply with the
requirements of the ISM Code. Upon request the Owners shall provide a copy of
the relevant Document of Compliance (DOC) and Safety Management Certificate
(SMC) to the Charterers.

 

Except as otherwise provided in this Charter Party, loss, damage,
expense or delay caused by failure on the part of the Owners or “the Company”
to comply with the ISM Code shall be for the Owners’ account.

 

78.           Deleted

 

23

 

79.           Bimco ISPS Clause for Time
Charter Parties:

 

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).

 

(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) (i) The Charterers shall provide the CSO and the Ship Security
Officer (SSO)/Master with their full style contact details and, where
sub-letting is permitted under the terms of this Charter Party, shall ensure
that the contact details of all sub-Charterers are likewise provided to the CSO
and the SSO/Master. Furthermore, the Charterers shall ensure that all
sub-charter parties they enter into during the period of this Charter Party
contain the following provision:

 

The Charterers shall provide the Owners with their full style contact
details and, where sub-letting is permitted under the terms of the Charter
Party, shall ensure that the contact details of all sub-Charterers are likewise
provided to the Owners.

 

(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 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.

 

24

 

(d) If either party makes any payment which is for the other party
account according to this Clause, the other party shall indemnify the paying
party.

 

U.S. Customs Advance Notification/AMS Clause for Time
Charter Parties

 

a)             If the Vessel loads or carries cargo destined
for the US or passing through US ports in transit, the Charterers shall comply
with the current US Customs regulations (19 CFR 4.7) or any subsequent
amendments thereto and shall undertake the role of carrier for the purposes of
such regulations and shall, in their own name, time and expense:

 

i)                                         Have in place a SCAC (Standard Carrier Alpha
Code);

ii)                                      Have in place an ICB (International Carrier
Bond);

iii)                                   Provide the Owners with a timely confirmation
of i) and ii) above; and 

iv)                                  Submit a cargo declaration by AMS (Automated
Manifest System) to the US
Customs and provide the Owners at the same time with a copy thereof.

 

b)            The Charterers assume liability for and shall
indemnify, defend and hold harmless the Owners against any loss and/or damage
whatsoever (including consequential loss and/or damage) and/or any expenses,
fines, penalties and all other claims of whatsoever nature, including but not
limited to legal costs, arising from the Charterers’ failure to comply with any
of the provisions of sub-clause (a). Should such failure result in any delay
then, notwithstanding any provision in this Charter Party to the contrary, the
Vessel shall remain on hire.

 

c)             If the Charterers’ ICB is used to meet any
penalties, duties, taxes or other charges which are solely the responsibility
of the Owners, the Owners shall promptly reimburse the Charterers for those
amounts.

 

d)            The assumption of the role of carrier by the
Charterers pursuant to this Clause and for the purpose of the US Customs
Regulations (19 CFR 4.7) shall be without prejudice to the identity of carrier
under any bill of lading, other contract, law or regulation.

 

80.           Owners have the option to change vessel’s
flag.

Flag change to be subject to Charterers’ acceptance of flag to be
flown, which not to be unreasonably withheld.

 

25

 

81.           Owners have the option to sell the vessel.

New Owners to be subject to Charterers’ prior approval, which not to be
unreasonably withheld. New Owners to remain responsible for due fulfilment of
this Timecharter.

 

82.           Mortgage and Assignment

 

Charterers agree that Owners may grant to its financiers an assignment
of this Charter and all the Owners’ rights, title, interest and benefits
therein, including the right to receive Charter hire and other sums and may
grant a mortgage and such other security documents as the financiers shall
require. The Charterers agree to acknowledge and consent to be bond by notice
of any assignment of this Charter executed by Owners.

 

83.           Owners’ bank:

 

	
  BENEFICIARY:

  	
   

  	
  GENCO
  EXPLORER LIMITED

  
	
   

  	
   

  	
  TRUST
  COMPANY COMPLEX,

  
	
   

  	
   

  	
  AJELTAKE
  ROAD, AJELTAKE ISLAND, MAJURO,

  
	
   

  	
   

  	
  MARSHALL
  ISLANDS MH 96960

  
	
   

  	
   

  	
   

  
	
  RECEIVING
  BANK:

  	
   

  	
  NORDEA
  BANK FINLAND PLC – NEW YORK BRANCH

  
	
   

  	
   

  	
  437
  MADISON AVENUE,

  
	
   

  	
   

  	
  NEW
  YORK, NY 10022

  
	
   

  	
   

  	
   

  
	
  SWIFT:

  	
   

  	
  NDEAUS3N

  
	
   

  	
   

  	
   

  
	
  ABA
  ROUTING NO:

  	
   

  	
  026010786

  
	
   

  	
   

  	
   

  
	
  BENEFICIARY

  ACCT. NO.

  	
   

  	
  7434432001

  

 

26

 

BOTH TO BLAME COLLISION CLAUSE

 

If
the liability for any collision in which the vessel is involved while
performing this Charter Party fails to be determined in accordance with the
laws of the United States of America, the following clause shall apply:

 

If the ship comes into collision with another ship as a result of the
negligence of the other ship and any act, neglect or default of the Master,
Mariner, Pilot or the servants of the carrier in the navigation or in the
management of the ship, the Owners of the goods carried hereunder will
indemnify the carrier against all loss or liability to the other or
non-carrying ship or her Owners in so far as such loss or liability represents
loss of or damage to or any claim whatsoever of the Owners of the said goods,
paid or payable by the other or non-carrying ship or her Owners to the Owners
of the said goods and set off, recouped or recovered by the other or non-carrying
ship or her Owners as part of their claim against the carrying ship or carrier.

 

The foregoing provisions shall also apply where the Owners, Operators
or those in charge of any ship or ships or objects other than, or in addition
to, the colliding ships or objects are at fault in respect to a collision or
contact.

 

GENERAL AVERAGE AND THE NEW JASON CLAUSE

 

General Average shall be payable according to the York/Antwerp Rules
1974 but where the adjustment is made in accordance with the law and practice
of the United States of America, the following clause shall apply:

 

In
the event of accident, danger, damage or disaster before or after the
commencement of the voyage, resulting from any cause whatsoever whether due to
negligence or not, for which or for the consequence of which the carrier is not
responsible by statute, contract or otherwise, the goods, shippers, consignees
or owners of the goods shall contribute with the carrier in general average to
the payment of any sacrifices, losses or expenses of a general average nature
that may be made or incurred and shall pay salvage and special charges incurred
in respect of the goods.

 

If a salving ship is owned or operated by the carrier, salvage shall be
paid for as fully as if the said salving ship or ships belonged to strangers.
Such deposit as the carrier or his agents may deem sufficient to cover the
estimated contribution of the goods and any salvage and special charges thereon
shall, if required, be made by the goods, shippers, consignees or owners of the
goods to the carrier before delivery.

 

and the Charterers shall procure that all Bills of Lading issued under
this Charter Party shall contain the same clause.

 

27

 

P & I BUNKERING CLAUSE

 

The
vessel shall have the liberty as part of the contract voyage and at any stage
thereof to proceed to any port or ports whatsoever whether such ports are on or
off the direct and/or customary route or routes to the ports of loading or
discharge named in this Charter and there take oil bunkers in any quantity in
the discretion of Owners even to the full capacity of fuel tanks, deeptanks and
any other compartment in which oil can be carried whether such amount is or is
not required for the chartered voyage.

 

BEMCO Standard War Risk Clauses for Time Charters 1993
Code Name “CONWARTIME 1993”

 

1              For the purpose of this Clause the words:

 

a)    “Owners” shall include the shipowners,
bareboat Charterers, disponent Owners, managers or other operators who are
charged with the management of the vessel and the Master and

 

b)    “War Risks” shall include any war (whether
actual or threatened), act of war, civil war, hostilities, revolution,
rebellion, civil commotion, warlike operations, the laying of mines (whether
actual or reported), acts of piracy, acts of terrorists, acts of hostility or
malicious damage, blockades (whether imposed against all vessels or imposed
selectively against vessels of certain flags or ownership, or against certain
cargoes or crews or otherwise howsoever), by any person, body, terrorist or
political group or the government of any state whatsoever which, in the
reasonable judgement of the Master and/or the Owners, may be dangerous or are
likely to be or to become dangerous to the vessel, her cargo, crew or other persons
on board the vessel.

 

2              The vessel, unless the written consent of the
Owners be first obtained, shall not be ordered to or required to continue to or
through any port, place, area or zone (whether of land or sea) or any waterway
or canal, where it appears that the vessel, her cargo, crew or other persons on
board the vessel, in the reasonable judgement of the Master and/or the Owners
may be, or are likely to be, exposed to war risks. Should the vessel be within
any such place as aforesaid which only becomes dangerous or is likely to be or
to become dangerous after her entry into it, she shall be at liberty to leave
it.

 

3              The vessel shall not be required to load
contraband cargo, or to pass through any blockade, whether such blockade be
imposed on all vessels or is imposed selectively in any way whatsoever against
vessels of certain flags or ownership or against certain cargoes or crews or
otherwise howsoever, or to proceed to an area where she shall be subject, or is
likely to be subject to a billigerents right of search and/or confiscation.

 

4

 

a)    The Owners may effect war risks insurance in
respect of the hull and machinery of the vessel and their other interests
(including but not limited to loss of earnings and detention, the crew and
their Protection and Indemnity risk) and the premiums and/or calls therefore
shall be for their account.

 

28

 

b)    If the Underwriters of such insurance should
require payment of premiums and/or calls because, pursuant to the Charterers’
orders, the vessel is within or is due to enter and remain within any area or
areas which are specified by such Under-writers as being subject to additional
premiums because of war risks, then such premiums and/or calls shall be
reimbursed by the Charterers to the Owners at the same time as the next payment
of hire is due.

 

5              If the Owners become liable under the terms
of employment to pay to the crew any bonus or additional wages in respect of
sailing into an area which is dangerous in the manner defined by the said
terms, then such bonus or additional wages shall be reimbursed to the Owners by
the Charterers at the same time as the next payment of hire is due.

 

6              The vessel shall have liberty:

 

a)    to comply with all orders, directions,
recommendations or advice as to departure, arrival, routes, sailing in convoy,
ports of call, stoppages, destinations, discharge of cargo, delivery or in any
other way whatsoever which are given by the government of the nation under
whose flag the vessel sails, or other government to whose laws the Owners are
subject, or any other government, body or group whatsoever acting with the
power to compel compliance with their orders or directions;

 

b)    to comply with the order, directions or
recommendations of any war risks underwriters who have the authority to give
the same under the terms of the war risks insurance;

 

c)    to comply with the terms of any resolution of
the Security Council of the United Nations, any directives of the European
Community, the effective orders of any other Supernational body which has the
right to issue and give the same and with national laws aimed at enforcing the
same to which the Owners are subject and to obey the orders and directions of
those who are charged with their enforcement;

 

d)    to divert and discharge at any other port any
cargo or part thereof which may render the vessel liable to confiscation as a
contraband carrier.

 

e)    to divert and call at any other port to
change the crew or any part thereof or other persons on board the vessel when
there is reason to believe that they may be subject to internment, imprisonment
or other sanctions.

 

7              If in accordance with their rights under the
foregoing provisions of this Clause the Owners shall refuse to proceed to the
loading or discharging ports or any one or more of them, they shall immediately
inform the Charterers. No cargo shall be discharged at any alternative port
without first giving the Charterers notice of the Owners’ intention to do so
and requesting them to nominate a safe port for such discharge. Failing such
nomination by the Charterers within 48 hours of the receipt of such notice and
request, the Owners may discharge the cargo at any safe port of their own
choice.

 

8              If in compliance with any of the provisions
of sub-clause (2) to (7) of this Clause anything is done or not done, such
shall not be deemed a deviation, but shall be considered as due fulfilment of
this Charter Party.

 

29

 

APPENDIX A – VESSEL’S DESCRIPTION 

 

M.V. “TOP EXPLORER”

 

Hong
Kong Flag Built 1999, Double
Hull, Single Deck, Log Fitted Bulk Carrier

29,952
metric tons deadweight on 9.994M SSW (TPC about 40.64)

	
  LOA/BEAM

  	
  :

  	
  170.0/27.0M

  
	
  Grain/Bale
  capacity

  	
  :

  	
  39,152/38,819CBM

  
	
  GRT/NRT

  	
  :

  	
  18,036/10,227

  

5Holds/5Hatches

4X30
metric tons cranes

 

About
14knots(L) / 14.5knots(B) on about 23.5 metric tons Intermediate Fuel Oil 180CST + about 1.5 metric tons Intermediate Fuel Oil 180CST for
G/E in calm sea and fair weather condition with wind speed up to and including beaufort scale 4

 

	
  In
  Port Consumption

  	
  :

  	
  about
  3.5 metric tons Intermediate Fuel Oil (working) or about  2.0 metric tons Intermediate Fuel Oil
  (idle)

  
	
  no
  diesel at sea but vessel has liberty of using Marine  Diesel Oil when manoeuvring, in/out prots,
  starting of A/E navigating in shallow/restricted/busy waters, poor weather, canals and rivers.

  

 

	
  Bunker
  specifications

  	
  :

  	
  FO:
  ISO 8217 RME25 (1996E)

  
	
   

  	
   

  	
  DO:
  ISO 8217 DMB 1996E)

  
	
  Hatchcover

  	
  :

  	
  Folding
  Type

  
	
  Hatch
  Dimensions

  	
  :

  	
  1)
  12.4 X 14.4M   2-5) 18.6 X 17.6M

  
				

Height
of fixed and hinged stanchion:

H/1          5.6M (from upper deck side line)

H/2-5      8.1M (from upper deck side line)

Hold
Dimension (Length X Width(FWD) X Width(AFT)) in M:

H1           20.8 X 8.3 X 22.2

H2           26.9 X 22.2 X 25.2

H3           26 X 25.2 X 25.2

H4           26.9 X 25.2 X 25.2

H5           27.9 X 25.2 X 24

All
Details About

 

Owners confirm the vessel is fully logs fitted
including full set of loose lashing for a full deck cargo of logs.

 

30

 

Charterers Questionnaire

 

	
  1

  	
  Flag

  	
  : Hong Kong

  
	
   

  	
  Nationality of crew

  	
  : People’s
  Republic of China

  
	
   

  	
  Full ITF

  	
  : Yes

  
	
  2

  	
  Builder

  	
  : Oshima, Japan

  
	
   

  	
  When built

  	
  : 1999

  
	
   

  	
  Class

  	
  : ABS

  
	
   

  	
  Previous name 

  	
  : None

  
	
  3

  	
  Confirm bridge/engine
  aft

  
	
  4

  	
  Confirm vessel is a
  regular SD self-trimming bulk carrier

  
	
  5

  	
  LOA

  	
  : 170M

  
	
   

  	
  BEAM

  	
  : 27M

  
	
   

  	
  Depth moulded

  	
  : 14.1M

  

6

	
   

  	
   

  	
  DWT

  	
   

  	
  Draft

  	
   

  	
  TPC

  	
   

  
	
  Summer SW

  	
   

  	
  29952MT

  	
   

  	
  9.994M

  	
   

  	
  46

  	
   

  
	
  Winter
  SW

  	
   

  	
  29107MT

  	
   

  	
  9.786M

  	
   

  	
   

  	
   

  
	
  Tropical SW

  	
   

  	
  30800MT

  	
   

  	
  10.202M

  	
   

  	
   

  	
   

  
	
  Tropical FW

  	
   

  	
  30782MT

  	
   

  	
  10.423M

  	
   

  	
   

  	
   

  
	
  Light Weight

  	
   

  	
  : N.A.

  	
   

  	
   

  	
   

  
									

 

	
  7

  	
  Constant excluding
  fresh water

  	
  : 250 metric tons

  
	
  8

  	
  Daily fresh water
  Consumption

  	
  : 10-12 metric
  tons

  
	
   

  	
  Fresh water tank
  capacity:

  	
  : about 248 Cubic
  metres

  
	
   

  	
  Fresh water generator

  	
  : about 15-17
  metric tons per

  
	
   

  	
   

  	
    24 hours
  steaming

  

9              Cargo
capacity (hold + hatch) in Cubic metres

 

	
  Hold

  	
   

  	
  Grain

  	
   

  	
  Bale

  	
   

  
	
  1

  	
   

  	
  4548

  	
   

  	
  4490

  	
   

  
	
  2

  	
   

  	
  8667

  	
   

  	
  8611

  	
   

  
	
  3

  	
   

  	
  8588

  	
   

  	
  8518

  	
   

  
	
  4

  	
   

  	
  9003

  	
   

  	
  8940

  	
   

  
	
  5

  	
   

  	
  8346

  	
   

  	
  8260

  	
   

  
	
  total

  	
   

  	
  39152

  	
   

  	
  38819

  	
   

  

 

	
  10

  	
  Speed/Consumption

  	
  : As above

  
	
   

  	
  ECO speed/Consumption

  	
  : N.A.

  
	
  11.

  	
  Port Consumption

  	
  : As above

  

12.           Bunker
capacity BSS (96 percent)

 

	
  IFO

  	
   

  	
  1195 CBM

  	
   

  
	
  MDO

  	
   

  	
  104 CBM

  	
   

  

 

13.           Ballast
capacity in Cubic metres      :

 

	
  fore peak

  	
   

  	
  701.4

  	
   

  
	
  NO.l WBTK (P)

  	
   

  	
  737.5

  	
   

  

 

 

	
  NO.1 WB TK (S)

  	
   

  	
  737.5

  	
   

  
	
  NO.2 WB TK (P)

  	
   

  	
  882.1

  	
   

  
	
  NO.2 WB TK (S)

  	
   

  	
  882.1

  	
   

  
	
  NO.3 WB TK (P)

  	
   

  	
  873.6

  	
   

  
	
  NO.3 WB TK (S)

  	
   

  	
  873.6

  	
   

  
	
  NO.4 WB TK (P)

  	
   

  	
  612.9

  	
   

  
	
  NO.4 WB TK (S)

  	
   

  	
  612.9

  	
   

  
	
  NO.5 WB TK (P)

  	
   

  	
  798.1

  	
   

  
	
  NO.5 WB TK (S)

  	
   

  	
  798.1

  	
   

  
	
  N0.2 top side
  (P)

  	
   

  	
  244.2

  	
   

  
	
  NO.2 top side
  (S)

  	
   

  	
  244.2

  	
   

  
	
  NO.4 top side
  (P)

  	
   

  	
  256.4

  	
   

  
	
  NO.4 top side
  (S)

  	
   

  	
  256.4

  	
   

  
	
  Aft peak

  	
   

  	
  454.4

  	
   

  
	
  NG.3 cargo hold

  	
   

  	
  8588.0

  	
   

  
	
  total

  	
   

  	
  18553.4

  	
   

  

 

	
  14.

  	
  Number of Hatches

  	
  : 5

  
	
   

  	
  Hatch dimension in
  metres

  	
  :

  
	
   

  	
  1.         12.4 X 14.4

  	
   

  
	
   

  	
  2-5        18.6 X 17.6

  	
   

  
	
   

  	
  Type
  of hatchcover

  	
  : el
  hydraulic

  
	
   

  	
  Way
  of opening

  	
  : fore/aft
  double skin

  
	
   

  	
  Cement
  hold

  	
  : 2 X 700 mm dia per
  hold(with air vent)

  
	
   

  	
  Distance from forward
  hatch to aft hatch : about
  122.4 M

  

 

	
  15.

  	
  Number of Holds

  	
  : 5

  
	
   

  	
  Hatch dimension in
  metres

  	
  :

  

L X W(forward) X  W(aft) X H (hold center)

	
  1.

  	
  20.8

  	
  X 8.3

  	
  X 22.2 X 12.6

  	
   

  
	
  2.

  	
  26.9

  	
  X 22.2

  	
  X 25.2 X 12.6

  	
   

  
	
  3.

  	
  26

  	
  X 25.2

  	
  X 25.2 X 12.6

  	
   

  
	
  4.

  	
  26.9

  	
  X 25.2

  	
  X 25.2 X 12.6

  	
   

  
	
  5.

  	
  27.9

  	
  X 25.2

  	
  X 24   X 12.6

  

Flat tank top dimension in metres :

W forward/aft X L

	
  1.

  	
  3.4/15.8

  	
  X
  20.8

  
	
  2.

  	
  16.0/20.1

  	
  X
  26.9

  
	
  3.

  	
  20.1/20.1

  	
  X
  22.3

  
	
  4.

  	
  20.1/20.1

  	
  X
  26.9

  
	
  5.

  	
  20.1/16

  	
  X27.9

  

Holds are hoppered

Confirm no obstacles/obstructions/pillars/container shoes in holds or tanktop

Confirm tanktop suitable for grab discharge

CO2 fitted in cargo holds

AUS ladder fitted in cargo holds

Cargo hold ventilation : natural

 

 

	
  16.

  	
  Gear
  type

  	
  : Crane

  
	
   

  	
  SWL

  	
  : 30
  tons

  
	
   

  	
  NO.

  	
  : 4

  

Where situated between holds : 1/2, 2/3, 3/4, 4

Maximum outreach from ship’s rail: about 10 M

SWL : unknown

Hoisting speed : about 19 M/min SWL 30T

Slewing speed : about 0.75 rpm

Confirm vessel can supply 440 volt 3 phase 60 cyles and 40 kva per crane
from engine room provided cargo gear not in use (subject Owners approval)

17.           Grabs -  
not fitted

18.           Hatchcover- deck-tank top strength (metric
tons per square metre)

 

	
  1.

  	
   

  	
  1.75

  	
   

  	
  2.72

  	
   

  	
  21.8

  	
   

  
	
  2.

  	
   

  	
  2.53

  	
   

  	
  3.93

  	
   

  	
  20.0

  	
   

  
	
  3.

  	
   

  	
  2.53

  	
   

  	
  3.93

  	
   

  	
  21.2

  	
   

  
	
  4.

  	
   

  	
  2.53

  	
   

  	
  3.93

  	
   

  	
  20.0

  	
   

  
	
  5.

  	
   

  	
  2.53

  	
   

  	
  3.93

  	
   

  	
  20.0

  	
   

  

 

19.           Confirm OK

20.           Confirm fully fitted for Suez/Panama canal
transit

21.           Confirm vessel strengthened for heavy cargo
ALT loading OK holds 2,4 can be empty

22.           Confirm vessel fully logs fitted with lashing
materials/chains/stanchions for the carriage of a full cargo of logs/timber
on/under deck

23.           WLOHC:

ballasted conditions:        about  
9.37M

NO. 3 cargo hold flooded :   about
11.45M

24.           Distance from bottom of keel to highest fixed
poit:   about 40.97M

25.           Confirm no centerline bulkhead

26.           Confirm vessel not traded Cuba within last
180 days

27.           Confirm vessel is not Arab blacklisted

	
  28.

  	
  Official
  NO.

  	
  : 10744

  
	
   

  	
  Lloyds reg

  	
  : N.A.

  
	
   

  	
  Home port

  	
  : Monrovia

  
	
   

  	
  Call sign

  	
  : E L U Q 9

  

 

Tlx No. 347708240

Fax No. 347708220

Tel No. 347707210

E-mail: tep@teship.amosconnect.com

 

GRT/NRT       18036/10227

Panama GRT/NRT       18036/10227

Suez GRT/NRT      
18776.32/16658.45

	
  Master

  	
  :

  	
  Capt.
  Xu Jian Zhan

  
	
  Chief
  Officer

  	
  :

  	
  Lin
  Song

  
	
  Chief
  Engineer

  	
  :

  	
  Tan
  Xian Chao

  
	
  Pandi
  club

  	
  :

  	
  West
  of England

  
	
  Underwriter

  	
  :

  	
  Gerling,
  Oslo

  

 

 

	
  Insured value

  	
  :

  	
  USD
  19.50 Million

  
	
  Owning company

  	
  :

  	
   

  

 

Owners Manager:

Top Glory Shipping
Co., Ltd.,

27/F Top Glory
Tower

262 Gloucester
Road

Causeway Bay

Hong Kong

	
  Tel

  	
  :

  	
  (852) 2833 0688

  
	
  Fax

  	
  :

  	
  (852) 2833 0683

  
	
  Tlx

  	
  :

  	
  72451 TGSHP HX

  

 

Departmental/personal
telephone numbers:

Chartering
department:

 

	
  Stephen So

  	
  (852) 2833-0371 (Direct
  line)

  
	
   

  	
  (852) 9192 7538
  (Mobile)

  

 

Operation (post
fixture) department:

 

	
  John Guo

  	
  (852) 2833-0678 (Direct
  line)

  
	
   

  	
  (852)
  9181-0568 (Mobile)

  
	
   

  	
  (86) 1305 800 1951
  (Weekends and Holidays)

  
	
  Mabel Chu

  	
  (852) 2833-0676

  
	
  LastDD/SS

  	
  : 14th May, 2004 Setubal

  
	
  Next DD/SS

  	
  :

  
	
  Last 6 Cargoes

  	
  :

  

 

No cleaning
equipment on board

 

29.           Valid
documents issued 20 Oct 1997 Houston, TX

Valid SMC issued 1
Feb 2000 Singapore

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00087-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00087-of-00352.parquet"}]]