The Freight
- Feb 6
- 43 min read

Estimation Fixture Terms

A. PART I – GENERAL TERMS

1. Preamble

It is mutually agreed between the party mentioned in Box 2. as the Owners of the Vessel named and with particulars as specified in Boxes 14. and carrying about the number of tons of deadweight cargo stated in Box 4. , now in the position as stated in Box 10. and expected ready to load under this Charter about the date indicated in Box 9. , and the party mentioned as the Charterers in Box 3.

That the said Vessel shall proceed to always afloat and always accessible loading port named in Box 5. or if prevented from entering such port by unforeseeable hindrances then so near thereto as she may safely get and lie, always afloat and there load in the customary manner as ordered by the Charterers a full and complete cargo of the description as stated in Box 4. which the Charterers bind themselves to ship, and being so loaded shall therewith proceed to always afloat and always accessible discharging port named in Box 7. as ordered on signing Bill of Lading, or if prevented from entering such port by unforeseeable hindrances then so near thereto as she may safely get and lie, always afloat and there deliver the said cargo in the customary manner as ordered on arrival.

2. Owners Responsibility

The Owners are to be responsible for loss of or damage to the goods or for delay in delivery of the goods only in case the loss, damage or delay has been caused by personal want of due diligence on the part of the Owners or their Manager to make the Vessel in all respects seaworthy and to secure that she is properly manned, equipped and supplied or by the personal act or default of the Owners or their Manager.

And the Owners are not responsible for loss, damage or delay arising from any other cause whatsoever, even from the neglect or default of the Owners or crew or some other person employed by the Owners on board or ashore for whose acts they would, but for this Clause, be responsible, or from unseaworthiness of the Vessel on loading or commencement of the voyage or at any time whatsoever.

3. Subletting, Assigning Clause

The Charterers shall have the liberty of subletting or assigning this Charter Party to any individual or company, but the Charterers shall always remain responsible for the due fulfilment of all the terms and conditions of this Charter Party and shall warrant that any such sublet or assignment to another party will not result in the Vessel being restricted in her future trading.

4. Compliance and Corporate Social Responsibility Clause

a. Owners and Charterers undertake that in the performance of this Charter Party they shall comply with all applicable laws and regulations, respect the protection of human rights and internationally accepted labor standards, they shall not use child or forced labor or discriminate in respect of employment, they shall avoid conflicts of interest and respect the environment.

b. Owners and Charterers undertake that they will not make, offer or authorize any payment, gift, promise or other advantages, in relation to the service, whether directly or indirectly, to or for the benefit of any public official, third party or personnel of the other party in order to obtain or retain business.

c. Owners and Charterers shall actively promote and seek to ensure compliance with the principles as mentioned above and rules in and amongst their servants, sub-contractors and other partners.

5. Lien and Cesser and right to resell cargo Clause

All liability of Charterer shall cease on completion of Loading except for the payment of freight, deadfreight and/or demurrage. Owner shall have a lien on all cargoes for freight, deadfreight and/or demurrage on the condition that freight is payable under Clause “Freight Payment Clause” above and Owner has issued a freight invoice to Charterer.

In the event that a lien is exercised by Owner and freight is not paid within [14] days of the exercise of that lien, Owner shall have the right to sell without notice to the Charterer and at the sole risk and expense of the Charterer all or part of the cargo by public auction or private treaty on terms at the Owner’s discretion.

In any event, any lien shall extend to cover the cost of recovering any sums due.

6. Liquidation or Bankruptcy of the Owners

If Owner becomes insolvent or bankrupt or has receiving order made against it or compounds with its creditors, or being a corporation commences to be wound up, or is placed under official management or carriers on its business under a receiver, trustee, liquidator or provisional liquidator for the benefit of any or all of its creditors owners shall forthwith notify Charterer accordingly and Charterer may either:

i)terminate the Charter Party forthwith by notice to owner, receiver, trustee, liquidator, provisional liquidator, official manager or to any other person in whom the Charter Party may have become vested.

ii)give to the receiver, trustee, liquidator, provisional liquidator, official manager or other person the option to perform the Charter Party subject to him providing a guarantee (satisfactory to Charterer) for the time being remaining to be performed for the due and faithful performance of the Contract.

iii)Any option given under paragraph (ii) of this Clause shall be exercisable within fourteen (14) days of its receipt.

A Charterer may also, without prejudice to any of the rights set out above, treat the Charter Party as having been fundamentally breached if any of the events specified in the first paragraph hereof occur”

7. No Objection Certificate

If vessel is despondently owned, the Owners to furnish No Objection Certificate from Head Owners and other owners in the link (if any) as per Charterers’ format. Where NOC is not available, Letter of indemnity shall be asked for at the discretion of the charterer and in case the owner/broker is not able to provide either the NOC or the letter of indemnity, it shall be treated as a substantial breach of this Contract.

8. Deviation Clause

Any deviation in saving or attempting to save life or property at sea, or any reasonable deviation, shall not be deemed to be an infringement of this Charter Party, and Owners shall not be liable for any loss or damage resulting therefrom.

9. Bills of Lading Clause

The Master shall authorize the agents at the load port(s) to sign and release on his behalf three negotiable Bills of Lading or nonnegotiable Sea Waybills if requested by Charterer, at any time Charterer’s or Shipper’s request this for any quantity loaded up to that time. Shipper’s weights in accordance with the shore scales/tally/weighbridge/draft survey (in Charterer’s sole option) at the loading port shall be accepted as tonnage shipped and Mate’s Receipts shall be drawn up accordingly. Bills of Lading or Sea Waybills are always to be drawn up in conformity with the Mate’s Receipts.

10. Second Bill of Lading Clause

In case 2nd set of B/L’S required:

First original set to be issued and released at load port as per governing agreed Charter Party provisions. The 2nd set of the Bills of Lading if required by the Charterers, to be issued at Charterers registered office country only after Charterers confirm to Owners in writing that they/or their agents/or their representatives are in possession of the first original set of Bills of Lading and confirm that same has been marked ‘null and void’ and furthermore undertake to courier said original set to Owners.

However, prior Charterers dispatching the first original set to Owners, Charterers undertake to fax the first set of original Bill of Lading to Owners as proven evidence. On this basis, Owners will permit Charterers to issue the 2nd set of original Bills of Lading which to be strictly in conformity with the first original set and prior issue and release same Charterers undertake to fax said copy for obtaining Owners prior written approval.

11. Non-presentation of Bills of Lading Clause

If requested by Charterer, the Master shall release all or part of the cargo at the Discharging port(s) without presentation of an original Bill of Lading. Prior to discharge, Charterer shall provide Owner with a Letter of Indemnity in the form of wording recommended by the International Group of P&I Clubs current as at the date of this Contract but without a bank guarantee. Such Letter of Indemnity shall automatically become null and void and to be promptly returned to Charterer upon presentation of an original Bill of Lading to Owner or Master.

12. Split of Bills of Lading

Charterers and/or agents are hereby authorized by Owners/Master to split Bills of Lading and issue ship delivery orders in negotiable and transferable forms against the collection of the full set of original Bills of Lading. Delivery orders to conform with all terms and conditions and exceptions of Bills of Lading and shall not prejudice ship-owners rights. The Owners shall not be responsible for delivery of the cargo to each delivery order holder and without prejudice to ship-Owners rights. Owners remain responsible for the total quantity loaded.

13. Switch Bills of Lading

Charterers may require switch Bills of Lading. If such request arises, Owners to agree to issue switch Bills of Lading where Charterers would hand over 1 st set of original Bills of Lading issued. Any charges and time for issuing switch Bills of Lading to be borne by Charterers. However, the new set of original Bills of Lading shall be released only upon Charterers surrendering the 1 st full set of original Bills of Lading with stamped Null & and Void to the Owners / Owners’ agents. The Charterers shall guarantee that there will be no more than 1(one) set of original Bills of Lading in circulations at any time.

14. Change of Bill of Lading

It is a condition of this contract that Owners allow Charterers or their agents to make lawful amendments such as destination, distribution of quantities, Shippers, Consignees, Notify, to any initial Bill(s) of Lading. Furthermore, Owners to give the right to Charterers to specify in the face of Bill(s) of Lading the precise destination or authorize Agency to issue and/or split and sign on Master’s behalf, as per Owners’ authority, new set(s) of Bill(s) of Lading under the following conditions ;

a. Total quantity and description of the cargo to be fully in accordance with the initial Bill(s) of Lading

b. New set(s) of Bill(s) of Lading and subsequent amendments to be emailed to Owners for approval before releasing them, together with the emailed initial original Bill(s) of Lading. Owners’ approval to be given within reasonable time (twelve working hours) after sending of the emailed documents. The initial complete set of original Bills of Lading to be surrendered, stamped “canceled” and returned to the Shipowners office simultaneously with the issuance and release of the new set(s) of original Bill(s) of Lading. Upon Shipowners agreement, same can be performed by Agency.

c. Charterers hereby undertake and guarantee Owners and/or Master entirely and fully harmless from any liability arising therefrom and to indemnify Owners for all costs and consequences as a result of Charterers acting within the above authority.

15. BIMCO Electronic Bills of Lading Clause

a. At the Charterers’ option, bills of lading, sea waybills and delivery orders referred to in this Charter Party shall be issued, signed and transmitted in electronic form with the same effect as their paper equivalent.

b. For the purpose of Sub-Clause (a) the Owners shall subscribe to and use Electronic (Paperless) Trading Systems as directed by the Charterers, provided such systems are approved by the International Group of P&I Clubs. Any fees incurred in subscribing to or for using such systems shall be for the Charterers’ account.

c. The Charterers agree to hold the Owners harmless in respect of any additional liability arising from the use of the systems referred to in Sub-Clause (b), to the extent that such liability does not arise from Owners’ negligence.

16. BIMCO Standard Dispute Resolution Clause 2016

a. This Contract shall be governed by and construed in accordance with the laws of the place mutually agreed by the Parties and any dispute arising out of or in connection with this Contract shall be referred to arbitration at a mutually agreed place, subject to the procedures applicable there.

b. Notwithstanding the above, the parties may agree at any time to refer to mediation any difference and/or dispute arising out of or in connection with this Contract. In the case of any dispute in respect of which arbitration has been commenced under the above, the following shall apply:

(i)Either Party may at any time and from time to time elect to refer the dispute or part of the dispute to mediation by service on the other Party of a written notice (the “Mediation Notice”) calling on the other Party to agree to mediation.

(ii)The other Party shall thereupon within fourteen (14) calendar days of receipt of the Mediation Notice confirm that they agree to mediation, in which case the Parties shall thereafter agree a mediator within a further fourteen (14) calendar days, failing which on the application of either Party a mediator will be appointed promptly by the Arbitration Tribunal (“the Tribunal”) or such person as the Tribunal may designate for that purpose. The mediation shall be conducted in such place and in accordance with such procedure and on such terms as the Parties may agree or, in the event of disagreement, as may be set by the mediator.

(iii)If the other Party does not agree to mediate, that fact may be brought to the attention of the Tribunal and may be taken into account by the Tribunal when allocating the costs of the arbitration as between the Parties.

(iv)The mediation shall not affect the right of either party to seek such relief or take such steps as it considers necessary to protect its interest.

(v)Either Party may advise the Tribunal that they have agreed to mediation. The arbitration procedure shall continue during the conduct of the mediation but the Tribunal may take the mediation timetable into account when setting the timetable for steps in the arbitration.

(vi)Unless otherwise agreed or specified in the mediation terms, each Party shall bear its own costs incurred in the mediation and the Parties shall share equally the mediator’s costs and expenses.

(vii)The mediation process shall be without prejudice and confidential and no information or documents disclosed during it shall be revealed to the Tribunal except to the extent that they are disclosable under the law and procedure governing the arbitration.

17. LMAA Small Claims Clause

Notwithstanding anything to the contrary in this Charter Party, the parties agree that all arbitrations where the amount at issue in dispute is less than USD 100.000 shall be conducted according to the small claims procedure 1994 of the London Maritime Arbitrators Association as amended from time to time.

18. Cargo Shortage Clause

Without prejudice to the rights that Charterers and Owners may have under the Bill of Lading. Owners, as named in this charter party, are to remain liable for any damage or shortage of Cargo. Any Cargo shortage at discharging port is to be covered by Owners under the P&I Club insurance.

19. Cargo Damage Clause

Notwithstanding anything in this Charter Party to the contrary, any time lost during discharge or load operation of the goods due to delays arising from damage to the cargo for which Owners are responsible due to unseaworthiness of the vessel or otherwise, shall not count as laytime or time on demurrage.

20. Force Major Clause

Without prejudice to any party’s rights under the Ice Clause, Owner shall not be liable to Charterer, nor will Charterer be liable to Owner, whether in demurrage or in any other respect whatsoever, for any failure or delay in the performance of obligations under this Contract, and any such delay shall neither count as laytime nor as demurrage, if such failure or delay is due to or results from the following: act of war or the threat or anticipated imminence thereof; restraints of rulers, governments, or people; act or threat of terrorism; legislation, decrees, orders, regulations or the like in the country of origin or of Vessel’s flag; unrest or disturbance, sabotage, blockade, sanctions, civil commotion, political disturbances, breakdOwners, power failure, accidents, or stoppages whether total or partial, at ports, on railways, or other means of transport to or from the ports; epidemics; disease; quarantine; Act of God; weather (including but not limited to drought, fog, frosts, floods, snow, storms, tidal wave, tsunami, tempest or washaways); any other event or occurrence of any nature or kind whatsoever beyond the reasonable control of Owner and/or Charterer, whether similar or dissimilar to the causes or circumstances mentioned above. A party affected by Force Majeure may not rely on Force Majeure if the reason it is unable to perform is caused by a failure of any person to discharge a contractual or other obligation in favour of the affected party, other than by reason of Force Majeure.

Charterer will not be liable to Owner, whether in demurrage or in any other respect whatsoever, for any failure or delay in the performance of obligations under this Contract and time shall neither count as laytime nor as time on Demurrage if such failure or delay is due to any of the aforementioned events stated within this Clause.

The party whose performance of any obligation is affected, or who has reason to believe such performance may be affected, by reason of any of the events referred to above shall, as promptly as possible, give written notice thereof to the other party concerned, and shall as promptly as possible thereafter notify the other party concerned, in writing, of particulars of the relevant event and supply supporting evidence.

Should any of the events referred to above lead to delays in excess of [0] days, for any of the contracted cargo(es), then either Charterer or Owner, shall have the right to cancel the relevant contracted cargo(es) without any liability under this Contract for either party including demurrage; alternatively by mutual agreement, this Contract shall be suspended for the period so affected and Owner and Charterer shall negotiate and so decide whether the terms of this Contract shall be extended beyond the original term by the period of suspension hereof.

Should this Contract relate to more than one voyage, if the cumulative Force Majeure events in any applicable Contract year total more than [0] days, Charterer shall have the right to reduce the contractual number of shipments to be performed in that contractual year.

21. War Risks Clause (Voymar 2013)

a. For the purpose of this Clause, the words:

(i)”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

(ii)”War Risks” shall include any actual, threatened or reported:

War, act of war, civil war or hostilities; revolution; rebellion; civil commotion; warlike operations; laying of mines; acts of piracy and/or violent robbery and/or capture/seizure (hereinafter “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 or territory whether recognised or not, which, in the reasonable judgement of the Master and/or the Owners, may be dangerous or may become dangerous to the Vessel, cargo, crew or other persons on board the Vessel.

b. If at any time before the Vessel commences loading, it appears that, in the reasonable judgement of the Master and/or the Owners, performance of the Contract of Carriage, or any part of it, may expose the Vessel, cargo, crew or other persons on board the Vessel to War Risks, the Owners may give notice to the Charterers canceling this Contract of Carriage, or may refuse to perform such part of it as may expose the Vessel, cargo, crew or other persons on board the Vessel to War Risks; provided always that if this Contract of Carriage provides that loading or discharging is to take place within a range of ports, and at the port or ports nominated by the Charterers the Vessel, cargo, crew, or other persons on board the Vessel may be exposed to War Risks, the Owners shall first require the Charterers to nominate any other safe port which lies within the range for loading or discharging, and may only cancel this Contract of Carriage if the Charterers shall not have nominated such safe port or ports within 48 hours of receipt of notice of such requirement.

c. The Owners shall not be required to continue to load cargo for any voyage, or to sign bills of lading, waybills or other documents evidencing contracts of carriage for any port or place, or to proceed or continue on any voyage, or on any part thereof, or to proceed through any canal or waterway, or to proceed to or remain at any port or place whatsoever, where it appears, either after the loading of the cargo commences, or at any stage of the voyage thereafter before the discharge of the cargo is completed, that, in the reasonable judgement of the Master and/or the Owners, the Vessel, cargo, crew or other persons on board the Vessel may be exposed to War Risks. If it should so appear, the Owners may by notice request the Charterers to nominate a safe port for the discharge of the cargo or any part thereof, and if within 48 hours of the receipt of such notice, the Charterers shall not have nominated such a port, the Owners may discharge the cargo at any safe port of their choice (including the port of loading) in complete fulfilment of the Contract of Carriage. The Owners shall be entitled to recover from the Charterers the extra expenses of such discharge and, if the discharge takes place at any port other than the loading port, to receive the full freight as though the cargo had been carried to the discharging port and if the extrabdistance exceeds 100 miles, to additional freight which shall be the same percentage of the freight contracted for as the percentage which the extra distance represents to the distance of the normal and customary route, the Owners having a lien on the cargo for such expenses and freight.

d. If at any stage of the voyage after the loading of the cargo commences, it appears that, in the reasonable judgement of the Master and/or the Owners, the Vessel, cargo, crew or other persons on board the Vessel may be exposed to War Risks on any part of the route (including any canal or waterway) which is normally and customarily used in a voyage of the nature contracted for, and there is another longer route to the discharging port, the Owners shall give notice to the Charterers that this route will be taken. In this event the Owners shall be entitled, if the total extra distance exceeds 100 miles, to additional freight which shall be the same percentage of the freight contracted for as the percentage which the extra distance represents to the distance of the normal and customary route.

e. (i) The Owners may effect War Risks insurance in respect of the Vessel and any additional insurances that Owners reasonably require in connection with War Risks and the premiums therefor shall be for their account.

(ii) If, pursuant to the Charterers’ orders, or in order to fulfil the Owners’ obligation under this Charter Party, the Vessel proceeds to or through any area or areas exposed to War Risks, the Charterers shall reimburse to the Owners any additional premiums required by the Owners’ insurers. If the Vessel discharges all of her cargo within an area subject to additional premiums as herein set forth, the Charterers shall further reimburse the Owners for the actual additional premiums paid from completion of discharge until the Vessel leaves such area or areas. The Owners shall leave the area or areas as soon as possible after completion of discharge.

(iii) All payments arising under this Sub-Clause (e) shall be settled within fifteen (15) days of receipt of Owners’ supported invoices.

f. The Vessel shall have liberty:

(i)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 of any state or territory whether recognised or not, body or group whatsoever acting with the power to compel compliance with their orders or directions;

(ii)to comply with the requirements of the Owners’ insurers under the terms of the Vessel’s insurance(s);

(iii)to comply with the terms of any resolution of the Security Council of the United Nations, the effective orders of any other Supranational 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;

(iv)to discharge at any alternative port any cargo or part thereof which may expose the Vessel to being held liable as a contraband carrier;

(v)to call at any alternative 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, detention or similar measures;

(vi)where cargo has not been loaded or has been discharged by the Owners under any provisions of this Clause, to load other cargo for the Owners’ own benefit and carry it to any other port or ports whatsoever, whether backwards or forwards or in a contrary direction to the ordinary or customary route.

g. The Charterers shall indemnify the Owners for claims arising out of the Vessel proceeding in accordance with any of the provisions of Sub-Clauses (b) to (f) which are made under any bills of lading, waybills or other documents evidencing contracts of carriage.

B. h. When acting in accordance with any of the provisions of Sub-Clauses (b) to (f) of this Clause anything is done or not done, such shall not be deemed to be a deviation, but shall be considered as due fulfilment of the Contract of Carriage.

22. Private and Confidential Clause

Each party and their respective officers, directors, employees, affiliates and consultants shall keep confidential this Agreement and its terms and shall not disclose such confidential information to any other person except with the written consent of the other party (such consent to not be unreasonably withheld) or in circumstances where either or both parties are ordered by a court of competent jurisdiction or required by applicable laws or by a party’s auditors to do so, or in circumstances where a party reports information on the price, route or vessel type (only) to price or freight reporting agencies.

C. PART II – PAYMENT TERMS

23. Freight Payment Clause

a. Freight basis per Metric tons Basis Free in out stowage basis one loading port to one discharge port

b. Charterer shall pay 10 percent of freight on the maximum quantity after 5 banking days of cargo booked to The Freight Report’s account and remian Freight to be paid [Bill of Lading/Delivered] weight in United States Dollars to The Freight Report’s account w/i Three (3) banking days after completion of loading operations and signing/releasing Bill(s) of Lading . Bills of lading to be marked “freight payable as per charter party” .

c. In the event that Charterers’ require “freight prepaid” Bills of Lading, same will only be released upon receipt of freight by Owners or presentation to Owners of proof of freight payment.

d. Freight deemed, earned, discountless, non-returnable whether vessel and or cargo lost or not.

e. If Owner fails to send Charterer a correct freight invoice by the time that the Bills of Lading are signed and released, the time for payment of freight under this sub-Clause shall be amended and extended such that Charterer is not obliged to pay freight until 5 days after Owner’s invoice is received, without prejudice to Charterer’s rights or Owner’s obligations under this Contract

f. For the purposes of this Clause, “banking day” means any day on which banks in Singapore, Newyork and Switzerland are generally open for the conduct of business.

g. Owner’s banking details: to be inserted;

24. Dead-freight Clause

If the Charterers fail to supply a cargo as specified in Box 4. , dead-freight shall be payable but the Charterers shall not be bound to supply cargo in excess of any quantity stated by the Owners as the Vessel’s capacity made available to the Charterers.

The Laytime shall be calculated on that quantity. The Owners/Master shall be entitled to Clause Bills of Lading for any dead-freight due. If the Shippers/ Suppliers state in writing that no more cargo will be shipped, the Owners shall not need to have any such statement confirmed by the Charterers.

25. Demurrage Clause

a. Charterers to pay Demurrage at Loading and Discharge Ports at the rate of (as agreed) per day or pro-rata for a part of a day for all time used in excess of allowed laytime.

b. Owners to pay Dispatch Money at the rate of One-half of the Demurrage Rate per day or pro-rata for a part of day for all laytime saved. Owners/Agents must send to Charterers the Statement of Facts immediately after completion of cargo the vessel.

c. Owners to present laytime calculation to Charterers five (5) running days after discharging is completed and Charterers have ten (10) running days to reply/confirm.

d. Demurrage, calculations are valid only with properly signed, wheater broadcasting report/sof/nor/time sheets and pertaining invoices.

e. Undisputed amounts to be anyhow paid after Charterers/Owners reached on the agreement and within thirty (30) running days from presentation of Owners/Charterers invoice, or in a quartered basis if agreed between the Parties.

f. Once on Demurrage always on Demurrage both ends.

26. Taxes/Dues/Port Charges Clause

a. On Vessel – The Owners shall pay charges and taxes customarily levied on the Vessel, howsoever the amount thereof may be assessed.

b. On cargo – The Charterers shall pay charges, duties and taxes customarily levied on the cargo, howsoever the amount thereof may be assessed.

c. On freight – Taxes levied on the freight shall be for the Charterers’ account but the owner will provide all necessary documents.

27. Canal Dues Clause

Canal dues if any at Loading Port and Discharge Port to be paid by Owners’ and refunded by Charterers against presentation of invoice.

28. Extra War Risk Insurance Premium Clause

Charterer shall pay for the additional cost, if any, of any War Risks Insurance premiums on the vessel and for her crew over the rates in effect on the date of this Charter Party which are necessitated by the trade in which the vessel is employed under this Charter Party. All War Risk Bonuses paid by Owner to members of the crew, in accordance with the provisions of Owner’s Maritime Board agreements, and/or similar agreements in excess of those in effect on the date of this Charter Party as to the trade in which the vessel is employed under this Charter Party shall to the extent of the excess (if any) of the rates from time to time prevailing such trade over those in effect on the date of the commencement of the voyage, be for Charterer’s account.

29. Brazilian Taxes

As per the Brazilian regulation, if a company is based on a tax haven country or even if not based on a tax haven country but if the company is registered on special tax condition (e. g. LLC companies in U.S.A. whose members is composed of non-resident shareholders), additional taxes on freight will be charged by Brazilian authorities. In this case, any additional taxes on freight will be for owners’ account and responsibility. Owners is not responsible for any additional taxes on freight if Charterers has duly approved owners’ full style and bank details by the time of fixture. If the Brazilian legislation changes after fixture, owners must provide a new full style and bank details that is not considered as a tax haven country.

30. DG Shipping Lines Fee Clause

DG shipping license/coastal conversion/re-conversion or any related cost/duty/liabilities to be on charterers account.

31. River Tools Clause

Any River Tools to be for charterers account

32. Commissions Clause

An address commission as stated in Box 20. on the gross amount of freight, deadfreight and/or demurrage shall be deducted by Charterer upon payment of same. Brokerage as stated in Box 20 on the freight, deadfreight and/or demurrage shall be due to the broker named in Box 20. upon payment of same and is payable by Owner.

D. PART III – PORT TERMS

33. BIMCO Bulk Carrier Safety Clause

a. The Charterers shall instruct the Terminal Operators or their representatives to co-operate with the Master in completing the IMO SHIP/SHORE SAFETY CHECKLIST and shall arrange all cargo operations strictly in accordance with the guidelines set out therein.

b. In addition to the above and notwithstanding any provision in this Charter Party in respect of loading/discharging rates, the Charterers shall instruct the Terminal Operators to load/discharge the Vessel in accordance with the loading/discharging plan, which shall be approved by the Master with due regard to the Vessel’s draught, trim, stability, stress or any other factor which may affect the safety of the Vessel.

c. At any time during cargo operations, the Master may if he deems it necessary for reasons of safety of the Vessel, instruct the Terminal Operators or their representatives to slow down or stop the loading or discharging.

d. Compliance with the provisions of this Clause shall not affect the counting of laytime.

34. Laytime Clause

a. The cargo shall be loaded or Discharged basis per weather working day of 24 consecutive hours.

b. Opening and closing of the hatches whenever required by charterers, shippers, receivers and/or stevedores to be done by vessel’s crew in Owner’s time and expenses which provided same is permitted by local regulation.

c. Laytime at the Loading and Discharge Ports shall commence %Turntime% hours after tendering Notice of Readiness.

d. Laytime to count, as per BIMCO Holiday Calendar.

e. Laytime at ports of loading and discharging to be non-reversible.

f. If used the actual time to count on Saturday Sunday Holiday Excluded basis laytime.

g. Used Time for Draft Surveys, Arrival-Departure Formalities, Holds inspections to count as Laytime if exceed turn-time.

h. Time eventually lost due to weather conditions preventing the vessel from entering the port and /or berth shall be discounted from laytime, even if the vessel is on demurrage.

i.Overtime shall be for the account of the party ordering the same. If overtime is ordered by port authorities, the same shall be for Charterers’ account, but overtime for officers and crew shall always be for Owners’ account.

j.At load or discharge port(s), Owner/Master shall not tender, Notice of Readiness is Charterer or its Agents obliged to accept, Vessel’s Notice of Readiness prior to the commencement of laycan, unless otherwise previously agreed. In the event that Charterer or Shippers can arrange to load or discharge before time commences to count, Master shall allow work to be done, in which case actual time used to count. Charterer’s and/or Charterer’s nominated agent’s acceptance of the Notice of Readiness before the commencement of laycan is without prejudice to Charterer’s rights in respect of the Notice of Readiness so tendered and shall not be construed as a waiver of any rights. Time for loading or discharge shall count (allowing for any turn time agreed) after Notice of Readiness has been tendered and accepted by Charterer.

35. Agents Clause

a. Charterers to nominate agency at loading and discharging ports (contact details to be informed). Owners to pay all port charges at loading and discharging port(s) as usual but always official tariff to be applied. Proforma disbursement amount at loading port(s) and discharging port(s) will be remitted by Owners directly to loading port and discharging port agents prior to vessels arrival to the ports in question.

b. Charterers not to be responsible if there is any penalty due to delay in payment or non-payment of disbursement accounts by owners.

c. Shippers and/or receivers and/or Charterers’ representatives have the right to be on board the Vessel during its stay in port(s).

d. Please find here below Agencies Contact Details

Loading Port Agency

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Discharge Port Agency

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36. Notice of Readiness Clause for Loading Port

Notice of Readiness shall be tendered at the first or sole Loading Port and shall be delivered to the Charterers or their agents at official hours, unless otherwise agreed, Sundays and holidays included (“SHINC”).

37. Advance Notice Clause

a. The Owners and/or the Master shall give the following estimated time of arrival (ETA) notices at Loading Port to the shippers or, if not named, the Charterers or their agents:

i.notice of ETA at time of fixture;

ii.7 and 5 days’ notice of ETA;

iii.72 and 48 hours’ notice of ETA; and

iv.24 hours’ definite notice of arrival.

b. Upon giving the 5 days’ notice, the Master shall declare the exact quantity of cargo required and the stowage plan, failing which the Charterers shall only be responsible for Loading a minimum quantity as stated in Box 4.

c. After sailing from the Loading Port, the Vessel’s position and an updated ETA at the Discharging Port shall be sent every day. Any delay in ETA exceeding 12 hours shall be reported immediately, failing which the Owners shall be fully responsible for any consequences and/or expenses resulting from such delay.

d. Notice shall also be given 72, 48 and 24/12/6 hours in advance of ETA at the Discharging Port.

38. Presentation of Notice of Readiness Clause

Notice of Readiness (NOR) at each load or discharge port shall be tendered in writing by VHF/Fax/Telex/Telegram/E-mail/Facsimile/courier to Charterer and/ or Charterer’s nominated