Document:

Exhibit 10.12

 

	
  

  	
   

  	
  [SEAL]

  

 

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
                                                      30th
day of November,  2004          19      Between GENCO RELIANCE LIMITED, MARSHALL ISLANDS                                       
Owners of the good Hong Kong                   
Steamship/Motorship “TOP RELIANCE” to be renamed “GENCO
RELIANCE” 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                                                                        

                                                                      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 i.e. on completion of
drydock and delivery formalities which expected to be on Monday 6th 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 Ameriea,-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 15th, 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 thc 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 sueh 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.

 

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.  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 holds 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 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 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 heroin
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 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 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.

 

 

	
   

  	
  pr.
  Lauritzen Bulkers A/S

  
	
   

  	
   

  
	
   

  	
   

  	
  /s/ Jens Ditlev Lauritzen

  	
   

  
	
   

  	
   

  	
  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 RELIANCE”

TO BE RENAMED “GENCO RELIANCE”

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 668 mt IFO and about 38 mt MDO.

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.

 

8

 

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

 

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.          Laving 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
  RELIANCE 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.

  	
   

  	
  7434682001

  

 

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.

 

BIMCO 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 RELIANCE”

 

HONG KONG FLAG BUILT 1999, DOUBLE HULL SD LOG FITTD BC

29, 952MTDW ON 9.994M SSW (TPC ABOUT 40.64)

LOA/BM  
170.0/27.0M

GRN/BALE  
39,152/38,819CBM

GRT/NRT  
18,036/10,227

5HOLDS/5HATCHES

4X30T CRANES

ABOUT 14K(L) / 14.5K(B) ON ABOUT 23.5 MT IFO
180CST + ABT 1.5MT IFO 180CST

FOR G/E IN CALM SEA AND FAIR WEATHER CONDITION WITH WIND SPEED UP TO AND INCL
BEAUFORT SCALE 4

	
  IN
  PORT CONS     :

  	
  ABOUT
  3.5MT IFO (WORKING) OR

  
	
   

  	
   ABOUT
  2.0MT IFO (IDLE)

  

NDAS BUT VESSEL HAS LIBERITY OF USING MDO WHEN
MANOEUVRING, IN/OUT OF PORTS, STARTING OF A/E, NAVIGATING IN
SHALLOW/RESTRICTED/BUSY WATERS, POOR WEATHER, CANALS AND RIVERS

	
  BKR
  SPEC     :

  	
  FO
  - ISO8217 RME25 (1996E)

  
	
   

  	
  DO
  - ISO 8217 DMB (1996E)

  

HATCHCOVER  :   FOLDING TYPE

HATCH DIMEN : 1) 12.4 X 14.4M 2-5) 18.6 X 17.6M

HEIGHT OF FIXED AND HINGED STANCHION

H/1     5.6M
(FROM UPPDER DECK SIDE LINE)

H/2-5   8.1M
(FROM UPPER DECK SIDE LINE)

HOLD DIM (LENGTH X WIDTH(FWD) X WIDTH(AFT)) IN M:

H1   20.1 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

STR FOR HVY CGO (#2+#4 CAN BE EMPTY)

AHL/GRN/CO2 FITTED

ALL ABOUT

 

Charterers Questionnaire

 

	
  1.

  	
  Flag   :

  	
  Hong
  Kong

  
	
   

  	
  Crew
  Nationality   :

  	
  PRC

  
	
   

  	
  ITF   :

  	
  Fitted

  
	
  2.

  	
  Built
  In Oshima Shipyard May 1999 

  
	
   

  	
  Class   :

  	
  ABS

  
	
   

  	
  Ex-Name$   :

  	
  Nil

  
	
  3.

  	
  Eng/Bridge
  Aft   :

  	
  Yes

  
	
  4.

  	
  Vessel
  is single deck self-trimming bulkcarrier with double hull structure fully
  logs fitted

  
	
  5.

  	
  LOA/BEAM/Depth
  moulded   :

  	
  170/27/14.1M

  
							

 

 

	
  6.

  	
   

  	
   

  	
  DWT

  	
   

  	
  DRAFT

  	
   

  	
  TPC

  	
   

  
	
   

  	
  Summer SW

  	
   

  	
  29952

  	
   

  	
  9.994

  	
   

  	
  40.64

  	
   

  
	
   

  	
  Winter SW

  	
   

  	
  29107

  	
   

  	
  9.786

  	
   

  	
   

  	
   

  
	
   

  	
  Tropical SW

  	
   

  	
  30800

  	
   

  	
  10.202

  	
   

  	
   

  	
   

  
	
   

  	
  Tropical FW

  	
   

  	
  30782

  	
   

  	
  10.423

  	
   

  	
   

  	
   

  
	
   

  	
  Lightweight  :

  	
   

  	
  6122
   MT

  	
   

  	
   

  	
   

  

 

	
  7.

  	
  Constant
  excluding fresh water   :

  	
  about
  320 MT

  	
   

  
	
  8.

  	
  Fresh
  water tank capacity   :

  	
  248.8CBM

  	
   

  
	
   

  	
  Fresh
  water evaporator capacity   :

  	
  about
  20MT per day

  	
   

  
	
   

  	
   

  	
  (24
  hours  steaming)

  	
   

  
	
  9.

  	
  Capacity  :

  	
  (Hold
  + Hatches In Cbm)

  	
   

  
					

 

	
  Hold

  	
   

  	
  Grain

  	
   

  	
  Bale

  	
   

  
	
  1.

  	
   

  	
  4548

  	
   

  	
  4490

  	
   

  
	
  2.

  	
   

  	
  8667

  	
   

  	
  8611

  	
   

  
	
  3.

  	
   

  	
  8588

  	
   

  	
  8518

  	
   

  
	
  4.

  	
   

  	
  9003

  	
   

  	
  8940

  	
   

  
	
  5.

  	
   

  	
  8346

  	
   

  	
  8260

  	
   

  

 

	
  10.

  	
  Speed/Consumption
  : about 14k(L)/14.5k(B) on about 23.5 MT IFO 180 CST + about 1.5 MT IFO
  180 CST for G/E under good weather condition and calm sea with wind speed up
  to (including) beaufort scale 4

  
	
  11.

  	
  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 of ports, starting of a/e, navigating in shallow/
  restricted /busy waters, poor weather and canals, rivers.

  
	
  12.

  	
  Bunker
  tank capacity (96%)

  
	
   

  	
   

  	
  IFO

  	
  1195.3
  CBM

  	
  MDO

  	
  104.6
  CBM

  
	
  13.

  	
  Ballast
  tank capacity    :   9965.4 CBM

  	
   

  
	
   

  	
  No.3
  hold ballast capacity  :   8588 CBM

  	
   

  
	
  14.

  	
  No.
  Of Hatches   :   5

  	
   

  	
   

  
	
   

  	
  Hatch
  dimentsion (IN M)  :

  	
   1.

  	
  12.4
  X 14.4

  
	
   

  	
   

  	
   

  	
   

  	
  2-5.

  	
  18.6
  X 17.6

  
	
   

  	
  Type
  of hatch covers :   folding

  	
   

  
	
   

  	
  Cement
  holds             :   2
  X 700 MM per hatch

  	
   

  
	
   

  	
  Distance
  from forward hatcoaming of 1st
  hatch to aft hatchcoaming of last hatch : about 122.4M

  
	
  15.

  	
  No. of
  Holds   :   5

  	
   

  
	
   

  	
  Hold
  Dimensions (in M)

  	
   

  	
   

  
	
   

  	
  1.

  	
  20.1
  X 8.3F X 22.2A

  	
   

  	
   

  
	
   

  	
  2.

  	
  26.9
  X 22.2F X 25.2A

  	
   

  	
   

  
	
   

  	
  3.

  	
  26
  X 25.2 X 25.2

  	
   

  	
   

  
	
   

  	
  4.

  	
  26.9
  X 25.2 X 25.2

  	
   

  	
   

  
	
   

  	
  5.

  	
  27.9
  X 25.2F X 24A

  	
   

  	
   

  
	
   

  	
  Flat
  tanktop dimensions (in M)

  	
   

  	
   

  
	
   

  	
  1.

  	
  20.1
  X 3.4F x 15.8A

  	
   

  	
   

  
	
   

  	
  2.

  	
  26.9
  X 16F X 20.1A

  	
   

  	
   

  
	
   

  	
  3.

  	
  22.3
  X 20.1

  	
   

  	
   

  

 

 

	
   

  	
  4.

  	
  26.9
  X 20.1  

  	
   

  	
   

  
	
   

  	
  5.

  	
  27.9
  X 20. IF X 6A

  	
   

  	
   

  
	
   

  	
  Cargo
  holds :   hoppered with topside wingtank

  	
   

  
	
   

  	
  No
  obstacles/obstructions in holds or tanktop

  	
   

  
	
   

  	
  Suitable
  for grab discharge

  	
   

  	
   

  
	
   

  	
  AHL
  fitted in holds

  	
   

  	
   

  
	
  16.

  	
  Cargo
  Gears   :   TSUJI SSHS3024 SWL 30tons

  	
   

  
	
   

  	
  Outreach
  fr ship’s side   :   10.5M (30T load)

  	
   

  
	
   

  	
  Slewing
  speed   :    0.75 rpm

  	
   

  
	
   

  	
  Hoisiting
  speed    :  19M/min (30T load)

  	
   

  
	
  17.

  	
  Grabs   :   not fitted

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  18.

  	
  Strength  (MT/M3)

  	
   

  
	
   

  	
  Hatchcover   :   2.53

  	
   

  
	
   

  	
  Tanktop     :    1.     21.8

  	
   

  
	
   

  	
                     2, 4, 5  20

  	
   

  
	
   

  	
                         3     21.2

  	
   

  
	
   

  	
  Upperdeck   : 1.     27.2

  	
   

  
	
   

  	
                         2–5    3.93

  	
   

  
	
   

  	
  Crossdeck   :     3.3

  	
   

  
	
  19.

  	
  Confirm
  vessel fitted for the carriage of grain in accordance with chapter VI of
  solars 1974 and amendments without bagging, strapping and securing when
  loading a full cargo (DWT) of grain in bulk with untrimmed ends

  
	
  20.

  	
  Fitted
  for transit Panama/Suez canal   :   Yes

  
	
  21.

  	
  Strengthed
  for heavy cargoes  :  Yes, holds 2/4 empty

  
	
  22.

  	
  Vessel
  fully logs/timber fitted with lashing materials for full cargo of logs
  under/on deck

  
	
  23.

  	
  WLTHC  (all about)

  	
   

  
						

 

	
  Hatch No.

  	
   

  	
  Fully Load

  	
   

  	
  Normal Ballast

  	
   

  	
  Heavy Ballast

  	
   

  
	
   

  	
   

  	
  (W/O 3 Hold)

  	
   

  	
  (W 3 Hold Ballst)

  	
   

  	
   

  	
   

  
	
  1

  	
   

  	
  6.12M

  	
   

  	
  12.13M

  	
   

  	
  9.37M

  	
   

  
	
  2

  	
   

  	
  6.12M

  	
   

  	
  11.82M

  	
   

  	
  9.37M

  	
   

  
	
  3

  	
   

  	
  6.12M

  	
   

  	
  11.45M

  	
   

  	
  9.37M

  	
   

  
	
  4

  	
   

  	
  6.12M

  	
   

  	
  11.08M

  	
   

  	
  9.37M

  	
   

  
	
  5

  	
   

  	
  6.12M

  	
   

  	
  10.71M

  	
   

  	
  9.37M

  	
   

  

 

	
  24.

  	
  Distance
  from bottom of keel to highest fixed point : about 40.97M

  
	
  25.

  	
  Centerline
  bulkhead  :  No

  
	
  26.

  	
  Vessel
  has not traded Cuba for last 180 days

  
	
  27.

  	
  Vessel
  is not on Arab boycott list

  
	
  28.

  	
  Official
  No. 10743

  
	
   

  	
  Port
  of Registry   :  Monrovia, Liberia

  
	
   

  	
  CALL
  SIGN   :  E L V Q 8

  
	
   

  	
   

  
	
   

  	
  Tlx No.

  	
  347706940

  
	
   

  	
  Fax No.

  	
  347706920

  
	
   

  	
  Tel No.

  	
  347706910

  
	
   

  	
  C.tlx:

  	
  447708210

  
	
   

  	
  E-mail:

  	
  trl@tgship.amosconnect.com

  
				

 

 

	
   

  	
  GRT/NRT
  (international)   :   18036/10227

  
	
   

  	
  Panama NRT

  	
  :  
  15078.68

  
	
   

  	
  GRT/NRT (Suez)

  	
  :  
  18776.32/16658.45

  
	
   

  	
  Name Of Master

  	
  :  
  Capt. Zhong Qin Fang

  
	
   

  	
  C/O
  

  	
  :   Zhang Wei

  
	
   

  	
  C/E  

  	
  :   Zhang Ke Jun

  
	
   

  	
  Registered
  Owners  :   Top Reliance Maritime Inc., Liberia

  
	
   

  	
  P&I
  Club  :

  
	
   

  	
  The
  London Steamship Owners Mutual Insurance Association

  
	
   

  	
  H + M U/Writer  
  :   Gerling, Oslo

  
	
   

  	
  H
  + M Value        :  
  USD 19.28M

  
	
   

  	
  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

  
	
   

  	
   

  	
  Operation
  Dept.

  
	
   

  	
   

  	
  Email
   :

  	
  operation@tgship.com.hk

  
	
   

  	
   

  	
   

  	
  Capt
  Eddie Lau (Operation Manager)

  
	
   

  	
   

  	
  Tel
  : (852) 2833 0680 direct

  
	
   

  	
   

  	
  Mobile
  : (852) 9191 0232

  
	
   

  	
  Owners
  Banking Details (for receiving charter hire)

  
	
   

  	
   

  
	
   

  	
  See Clause 83

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  Last
  Drydock           :

  
	
   

  	
  Last
  Special survey :   N.A.

  
	
   

  	
  Next
  Drydock/Special survey:

  
	
   

  	
  Last
  6 cargoes:

  
	
  29.

  	
  Vessel
  and Manager :  ISM certified

  
	
  All
  Details AboutExhibit
10.13

 

	
  

  	
  Time
  Charter

  GOVERNMENT
  FORM

  Approved by the New York Produce Exchange

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

  	
  [SEAL]

  

 

This Charter Party,
made and concluded in London                                                   30th
day of November, 2004                      19      
Between GENCO SUGAR LIMITED, MARSHALL ISLANDS                                                                                            
Owners of the good Hong Kong                        Steamship/Motorship “TOP SUGAR” to be renamed “GENCO SUGAR”            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 voyage into
CHITTAGONG, expeced end 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
15th, 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 loss 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 incuding 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 arc to boar 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 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.

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. 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 holds 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 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 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 heroin, and nothing heroin 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 sot 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 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.

 

 

	
   

  	
  pr. Lauritzen Bulkers A/S 

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  /s/  Jens
  Ditlev Lauritzen

  	
   

  
	
   

  	
  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
SUGAR”

TO BE RENAMED “GENCO SUGAR”

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 700-800 mt Intermediate
Fuel Oil and about 40-50 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.

 

1)                                      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
  SUGAR 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.

  	
   

  	
  7436172001

  

 

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.

 

 

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.

 

BIMCO 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.

 

 

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.

 

 

APPENDIX A – VESSEL’S DESCRIPTION

 

M.V. “TOP SUGAR”

 

HONG
KONG FLAG BLT 1998, DOUBLE HULL SD LOG FTD BC

29,952MTDW
ON 9.994M SSW (TPC ABT 40.64)

	
  LOA/BM

  	
   

  	
  170.0/27.OM

  
	
  GRN/BALE

  	
   

  	
  39,152/38,819CBM

  
	
  GRT/NRT

  	
   

  	
  18,036/10,227

  

5HO/5HA

4X30T
CRANES

ABT
14K(L) / 14.5K(B) ON ABT 23.5 MT IFO 180CST + ABT 1.5MT IFO

180CST
FOR G/E IN CALM SEA AND FAIR WEATHER CONDITION WITH WIND

SPEED
UP TO AND INCL BEAUFORT SCALE 4

IN PORT CONS                               :                          ABT 3.5MT IFO (WORKING) OR

  ABT 2.0MT IFO (IDLE)

NDAS
BUT VSL HAS LIBERITY OF USING MDO WHEN MANOEUVRING,

IN/OUT
OF PORTS, STARTING OF A/E, NAVIGATING IN SHALLOW/RESTRICTED/BUSY WATERS, POOR
WEATHER, CANALS AND RIVERS

BKR SPEC                                       :                     FO - ISO8217 RME25 (1996E) 

DO - ISO8217 DMB (1996E)

HATCHCOVER
: FOLDING TYPE

HATCH
DIMEN : 1) 12.4 X 14.4M 2-5) 18.6 X 17.6M

HEIGHT
OF FIXED AND HINGED STANCHION

H/1               5.6M (FROM UPPDER DECK SIDE LINE)

H/2-5                   8.1M (FROM UPPER DECK SIDE LINE)

HOLD
DIM (LENGTH X WIDTH(FWD) X WIDTH(AFT)) IN M:

H1              20.1 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

STR
FOR HVY CGO (#2+#4 CAN BE EMPTY)

AHL/GRN/CO2
FITTED

ALL
ABOUT

 

Charterers
Questionnaire

 

	
  1.

  	
   

  	
  Flag

  	
  :

  	
   

  	
  Hong Kong

  	
   

  	
   

  
	
   

  	
   

  	
  Nationality
  of crew

  	
  :

  	
  People’s
  Republic of China

  	
   

  	
   

  
	
   

  	
   

  	
  Vessel
  is ITF fitted

  	
   

  	
   

  	
   

  	
   

  
	
  2

  	
   

  	
  Built
  in Oshima Shipyard in May/98

  	
   

  	
   

  
	
   

  	
   

  	
  Class

  	
  :

  	
   

  	
  ABS

  	
   

  	
   

  
	
   

  	
   

  	
  Ex
  Name

  	
  :

  	
   

  	
  Nil

  	
   

  	
   

  
	
  3

  	
   

  	
  Vessel
  is engine/bridge aft

  	
   

  	
   

  
	
  4

  	
   

  	
  Vessel
  is single deck selftrimming bulkcarrier with double hull structure and log
  fitted

  	
   

  	
   

  

 

 

	
  5

  	
   

  	
  LOA/Beam/Depth
  moulded:

  	
  170/27/14.1M

  	
   

  	
   

  

 

	
  6

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  

 

	
   

  	
   

  	
  DWT

  	
   

  	
  Draft

  	
   

  	
  TPC

  	
   

  
	
  Summer SW

  	
   

  	
  29,952

  	
   

  	
  9.994

  	
   

  	
  40.64

  	
   

  
	
  Winter SW

  	
   

  	
  29,107

  	
   

  	
  9.786

  	
   

  	
   

  	
   

  
	
  Tropical SW

  	
   

  	
  30,800

  	
   

  	
  10.202

  	
   

  	
   

  	
   

  
	
  Tropical FW

  	
   

  	
  30,782

  	
   

  	
  10.423

  	
   

  	
   

  	
   

  

 

	
   

  	
   

  	
  Vessel
  lightweight: 6122 metric tons

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  7

  	
   

  	
  Constant
  excluding fresh water about 320 metric tons

  	
   

  	
   

  
	
  8

  	
   

  	
  Fresh
  water tank capacity: 248.8 Cubic metres

  	
   

  	
   

  
	
   

  	
   

  	
  Fresh
  water evaporator capacity: about 20 metric tons per day

  	
   

  	
   

  
	
  9

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
										

 

	
  Hold

  	
   

  	
  Grain

  	
   

  	
  Bale(Holds & Hatches all in Cubic metres)

  	
   

  
	
  1

  	
   

  	
  4,548

  	
   

  	
  4,490

  	
   

  
	
  2

  	
   

  	
  8,667

  	
   

  	
  8,611

  	
   

  
	
  3

  	
   

  	
  8,588

  	
   

  	
  8,518

  	
   

  
	
  4

  	
   

  	
  9,003

  	
   

  	
  8,940

  	
   

  
	
  5

  	
   

  	
  8,346

  	
   

  	
  8,260

  	
   

  

 

	
  10

  	
   

  	
  Speed/Consumption:
  About 14 knots(L)/14.5(B) on about 23.5 metric tons Intermediate Fuel
  Oil(180CST)+ about 1.5 metric tons Intermediate Fuel Oil (180CST) for G/E
  under good weather condition and calm sea

  
	
  11

  	
   

  	
  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 of ports,
  starting of A/E, navigating in shallow/restricted/busy waters, poor ewather
  and canals, rivers.

  
	
  12

  	
   

  	
  Bunker
  Tank capacity(96 percent)

  

 

	
  IFO

  	
   

  	
  1,195.3

  	
   

  	
  CBM

  
	
  MDO

  	
   

  	
  104.6

  	
   

  	
  CBM

  

 

	
  13

  	
   

  	
  Ballast tank capacity:

  	
   

  	
  9,965.4CBM

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  No.3 cargo hold ballast
  capacity:

  	
   

  	
  8,588CBM

  	
   

  	
   

  	
   

  	
   

  
	
  14

  	
   

  	
  Number of Hatches:

  	
  5

  	
   

  	
   

  	
   

  	
   

  	
   

  
										

 

Hatch dimensions: 1) 12.4X14.4(all in metres) 2-5)
18.6X17.6

Type of hatchcovers: 
folding type

Each hatch is fitted with 2 permanent cement
holes(700mm)

Distance from forward hatchcoaming of 1st
hatch to aft hatchcoaming

Of last hatch: about 122.4M

 

	
  15

  	
   

  	
  Number
  of Holds

  	
  :

  	
  5

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Hold
  dimension in metres

  	
  :

  	
   

  	
   

  	
   

  
	
   

  	
  Length
  and width(forward) X Width(aft)

  	
   

  	
   

  
	
   

  	
  1.

  	
  20.1  X  8.3F    X  22.2A

  	
   

  	
   

  
	
   

  	
  2.

  	
  26.9  X  22.2F  X  25.2A

  	
   

  	
   

  
	
   

  	
  3.

  	
  26     X  25.2    X  25.2

  	
   

  	
   

  
	
   

  	
  4.

  	
  26.9  X  25.2    X  25.2

  	
   

  	
   

  
	
   

  	
  5.

  	
  27.9  X  25.2F  X  24A

  	
   

  	
   

  
											

 

 

Flat
tank top dimensions: L X W (all in metres) :

 

	
   

  	
   

  	
  1.

  	
  20.1
  X 3.4F X 15.8A

  	
   

  	
   

  
	
   

  	
   

  	
  2.

  	
  26.9
  X 16F X 20.1A

  	
   

  	
   

  
	
   

  	
   

  	
  3.

  	
  22.3
  X 20.1

  	
   

  	
   

  
	
   

  	
   

  	
  4.

  	
  26.9
  X 20.1

  	
   

  	
   

  
	
   

  	
   

  	
  5.

  	
  27.9
  X 20.1F X 6A

  	
   

  	
   

  

 

Vessel’s
holds are hoppered

Vessel
has no obstacles/obstructions in holds or on tanktop

Vessel’s
tanktop is suitable for normal grab discharge

Vessel
is fitted with AHL

Cargo
holds is natural ventilation

16                        Vessel’s gear type TSUJI SSHS3024 with SWL of
30 metric tons Maximum

Outreach from shipside: about 10.5 M (at 30 metric tons load)

Slewing speed: about 0.75 rpm

Hoisting speed: 19 M/min (at 30 metric tons load)

17                        No grab is placed onboard

18                        Strength (metric tons per square metre):

Hatch cover: 2.53

Tanktop:      1)  21.8    2,4,5)   20    3)   21.2

Upperdeck:  1)  2.72    2-5)   3.93

Crossdeck:   3.3

19                        Confirm vessel fitted for the carriage of
grain in accordance with Chapter VI of SOLAS 1974 and amendments, without
requiring any bagging, strapping and securing when loading a full cargo
(deadweight) of any grains in bulk with ends untrimmed. Confirm vessel is self
trimming: YES

20                        Vessel is fitted for transit Suez and Panama
canal

21                        Vessel is strengthened for carrying heavy
cargo with No. 2+4 Cargo holds empty

22                        Confirm vessel is fully logs/timber fitted
with all lashing materials for full cargo of logs under/on deck

23                        Distance from water line to top of hatch
coaming

 

	
   

  	
   

  	
  fully load

  	
   

  	
  normal ballast

  	
   

  	
   

  	
   

  
	
  Hatch

  	
   

  	
  (W/O No.3 hold)

  	
   

  	
  (with No.3 hold)

  	
   

  	
  heavy ballast

  	
   

  
	
  No.l

  	
   

  	
  6.12M

  	
   

  	
  12.13M

  	
   

  	
  9.37M

  	
   

  
	
  No.2

  	
   

  	
  6.12M

  	
   

  	
  11.82M

  	
   

  	
  9.37M

  	
   

  
	
  No.3

  	
   

  	
  6.12M

  	
   

  	
  11.45M

  	
   

  	
  9.37M

  	
   

  
	
  No.4

  	
   

  	
  6.12M

  	
   

  	
  11.08M

  	
   

  	
  9.37M

  	
   

  
	
  No.5

  	
   

  	
  6.12M

  	
   

  	
  10.71H

  	
   

  	
  9.37M

  	
   

  

 

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

25                        Vessel has no centerline bulkhead

26                        Vessel has not trded Cuba for last 180 days

27                        Vessel is not on Arab boycott list

28                        Official NO: HK-0732

Port of Registry: Hong Kong

Call sign: VREX8

 

 

E-mail: tsg@tgship.amosconnect.com

Inmarsat (C) Tlx: 447792310

Tlx:  347792340

Tel:  347792310

Fax:  347792320

GRT/NRT for
International:    18,036/10,227

 

	
  Panama
  NRT

  	
  15,078.68

  	
   

  
	
  Suez
  GRT/NRT

  	
  18,776.32/16,658.45

  	
   

  
	
  Name
  of Master

  	
  :

  	
  Capt.
  Zhao Yong Ping

  	
   

  
	
  Chief
  Officer

  	
  :

  	
  Zhang
  Yuan Fei

  	
   

  
	
  Chief
  Engineer

  	
  :

  	
  Cai
  Bo Ling

  	
   

  
	
  Owners:

  	
   

  	
   

  	
   

  
	
  P & I Club

  	
  :

  	
   

  	
   

  
	
  London
  Steamship Owners’ Mutual Insurance Association

  	
   

  
	
  H &
  M Underwriter  :

  	
  Gerling,
  Norway

  	
   

  
	
  H &
  M Insured value  :

  	
  USD
  23.2 Million

  	
   

  
	
  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

  	
   

  
	
  Owners
  Bank Details:

  	
   

  
	
  See
  Clause 83

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
  Last
  Drydock:

  	
  22nd
  July, 2003, Malta

  	
   

  
	
  Last
  Special survey:  Nil

  	
   

  	
   

  
	
  Next
  Special survey:

  	
   

  	
   

  
	
  Last
  6 cargoes:

  	
   

  	
   

  
									

 

29                       Vessel and Manager are ISM certified

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"}]]