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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

%Agency%

Discharge Port Agency

%Agency%

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 agent (if any) after the Vessel has arrived and is in all respects ready whether in port or not, whether in berth or not, whether customs cleared or not, whether in free pratique or not. If after berthing the vessel is found not to be in free pratique or free pratique is not granted on arrival at the berth, laytime shall be deemed not to have commenced until when the vessel is in fact in free pratique and in all respects ready to load or discharge. If the loading or discharge berth or anchorage is unavailable at this time due to the berth or anchorage being occupied by another vessel, the Vessel may tender its Notice of Readiness from the normal recognised waiting for place designated by the Port Authority, even if outside the normal port limits and whether or not the Vessel has been cleared by customs and/or quarantine authorities.

39. Shifting Expenses and Time Clause

a. Cost of shifting between Loading berths and cost of shifting between Discharging berths to be for Charterers’ account, time so used shall count.

b. If the vessel is required to shift from one Loading or Discharging berth to a lay berth or anchorage due to subsequent Loading or Discharging berth(s) not being available, all such shifting expenses, as defined above shall be for Charterers’/Receivers’ account, time so used shall count.

c. If the vessel shifts from the anchorage or waiting place outside the port limit either directly to the first Loading or Discharging berth or a lay berth or anchorage within the port limits the cost of that shifting shall be for Owners’ account and time so used shall not count even if the vessel is on demurrage.

d. Shifting in and out of the same berth If vessel is required by Charterers or Receivers or Port Authorities to shift out of the Loading berth or the Discharging berth and back to the same berth, one berth shall be deemed to have been used, but shifting expenses from and back to the Loading or Discharging berth so incurred shall be for Charterers’/Receivers’ account and laytime or time on demurrage shall count.

40. River Navigation

a. Vessel to load as much cargo as the Master considers safe according to the river draft on navigation to discharge port at the time of loading.

b. After sailing loading port, Owners to remain the sole responsibility for any consequences arising from river draft reduction independently of the nature of the said consequences (i.e. grounding, lightering, time lost, etc. )

41. BIMCO Stevedore Damage Clause for FIO Voyage Charter Parties 2008

a. The Charterers shall be responsible for damage (fair wear and tear excepted) to any part of the Vessel caused by Stevedores. The Charterers shall be liable for all costs for repairing such damage and for any time lost, which shall be paid in an amount equivalent to the demurrage rate.

b. The Master or the Owners shall notify the Charterers or their agents and the Stevedores of any damage as soon as reasonably possible, failing which the Charterers shall not be responsible.

c. Stevedore damage affecting seaworthiness shall be repaired without any delay before the Vessel sails from the port where such damage was caused or discovered. Stevedore damage affecting the Vessel’s trading capabilities shall be repaired before leaving the last port of discharge, failing which the Charterers shall be liable for resulting losses. All other damage which is not repaired before leaving the last port of discharge shall be repaired by the Owners and settled by the Charterers on receipt of Owners’ supported invoice.

42. Permissible Draft

The Vessel shall proceed to the first or sole discharging port via the most direct route unless otherwise agreed. Loading and discharging port(s) rotation shall be at Owner’s option unless otherwise agreed. Prior to arrival at loading and discharging port(s) Owner and Master to be solely responsible for determining the applicable size, draft, length, beam and air draft limitations and any other restrictions.

43. Charges Clause

Towage for the raft, terminal service charges, handling charges, and such wharfages and other dues and taxes as are charged against cargo, if any, shall be for the Charterers’ account.

44. Sanctions Compliance Clause

a. Notwithstanding any other term of this Contract, both parties agree to the following conditions which are incorporated into this Contract:

i.to comply in the performance of this Contract with the strictest obligations imposed by any applicable sanctions measures, or, if more stringent, with the standards of sanctions measures issued or adopted from time to time by HM Treasury of the UK, the Australian Government, Switzerland, the US Government (including the US Department of the Treasury’s Office of Foreign Assets Control (“OFAC”)), the European Union, the United Nations Security Council, and NATO as though such regulations were applicable to the parties (“Sanctions”); and

ii. not to require the other party or any third party (including any financial institution or insurer) to take any action or perform any obligation in relation to the Contract which involves or may reasonably be considered to involve a violation of Sanctions applicable to such party. For the avoidance of doubt, nothing in this Clause shall relieve either party of any obligation to make a payment due under any other terms of this Contract.

iii. For the avoidance of doubt, the standards set forth in (a)(i) and (a)(ii) shall require due diligence by the parties as to, without limitation, the countries and ports of origination, destination, and transit in a voyage; and by Charterer: the direct and indirect ownership, country of origin and ultimate destination of cargoes shipped; and by Owner: the owner and location of suppliers of bunkers; the country of organisation, registration, location or residence of the vessel, vessel owner(s), sub-charterers, and crews.

ii. If either party becomes aware of any circumstances of any actual or potential breach of Sanctions by any party then that party shall promptly disclose those circumstances to the other party to this Contract.

b. No Blocked Vessel may be nominated or used pursuant to this Contract and Owner expressly warrants that the Vessel which is the subject of this Contract is not a Blocked Vessel. For this purpose, a Blocked Vessel shall be a vessel:

i.listed on the List of Specially Designated Nationals and Blocked Persons published and amended from time to time by OFAC (the “SDN List”), the EU’s or UK’s Consolidated List, Australia’s Department of Foreign Affairs and Trade Consolidated List, or the Consolidated List of a UN Security Council Sanctions Committee under a resolution imposing an assets freeze (collectively, “Sanctions Lists”);

ii. the registered owner of which is named on a Sanctions List;

iii. directly or indirectly owned, chartered, operated or controlled by any individual or entity named on a Sanctions List;

v.flagged or registered by a country that is the subject of Sanctions.

vi.owned or chartered by an individual or entity that is registered, constituted or organized in, or who is a citizen or resident of or located in, a country that is the subject of Sanctions.

vii.acceptance of which by the party to whom the Vessel has been nominated or used pursuant to the terms of this Contract (“Accepting Party”) would constitute a violation of any Sanctions without limitation to any other Sub-Clause in this Contract by the Accepting Party, as if the Accepting Party were required to comply with Sanctions, all as amended from time to time.

c. No party to this Contract shall permit any vessel nominated or used pursuant to this Contract to originate or terminate its voyage in a country that is the subject of territorial Sanctions. Nor shall any party to this Contract permit any vessel nominated or used pursuant to this Contract to transit any country that is the subject of Sanctions.

d. Any party to this Contract who breaches a provision of this Clause will be liable to and indemnify the other for any and all directly related losses, fines, damages and costs whatsoever suffered by the other to the maximum extent permitted under the law of the Contract and which arise solely out of the said violation or breach, as the case may be.

45. Calcutta – Sandheads Clauses

If vessel ordered to wait at Sandheads, time to count after arrival at Sandheads.

46. Cyprus Trader

Owners warrant that the vessel is not Cyprus flag and has not traded to Cyprus in last call.

47. ITF and Boycott Clause

Owner shall provide, if required, evidence to Charterer that Vessels, excluding those of national flag and manned by Master and crew of the same nationality as the flag state, shall comply with all the requirements of the International Transport Federation (‘I.T.F. ‘) or any successor organisation at the Loading and Discharging Port(s) from time to time applicable. If the vessel does not possess a current I.T.F. certificate or equivalent acceptable to the I.T.F. or if the vessel certificate lapses at any time during the currency of each voyage under this Charter Party, Charterer may terminate the voyage. Further, Owner shall keep Charterer fully indemnified against any consequences (including any delay occasioned thereby and also including Charterer’s costs to provide a suitable replacement Vessel to meet its scheduling requirements) of the Vessel’s lack of certification and/or failure to comply with any rules, by-laws or regulations as aforesaid.

48. Japanese Trading Clause

Owner undertakes as a condition that the Vessel shall have on board a valid International Group of P&I Club’s certificate of insurance issued by MOLIT (Ministry of Land Infrastructure and Transport (Japan)) as required under Japanese law. Owner shall ensure full compliance with all Japanese reporting obligations required under Japanese law. Further and without prejudice to Charterer’s other legal rights, Owner shall indemnify, defend and hold harmless Charterer against all consequences arising out of non-compliance with this provision.

49. Lighterage Clause

Charterers has the option to load from barges sent alongside and/or discharge into barges sent alongside. Lighterage, if any, shall be at Charterer’s risk and expense, including such fendering necessary for safe operations.

50. NAABSA Clause

Always subject to the Owners’ approval, which is not to be unreasonably withheld, the Vessel during loading and/or discharging may lie safely aground at any safe berth or safe place where it is customary for vessels of similar size, construction and type to lie, if so requested by the Charterers, provided always that the Charterers have confirmed in writing that vessels using the berth or place will lie on a soft bed and can do so without suffering damage. The Charterers shall indemnify the Owners for any loss, damage, costs, expenses or loss of time, including any underwater inspection required by the class, caused as a consequence of the Vessel lying aground at the Charterers’ request.

51. BIMCO North American Advance Cargo Notification Clause for Voyage Charter Parties 2016

1. US Notification Requirements for Voyage Charter Parties

(a)If the Vessel loads or carries cargo destined for the US or passing through US ports in transit, the Owners 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:

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

2. Have in place an ICB (International Carrier Bond); and

3. Submit a cargo declaration by AMS (Automated Manifest System) to the US Customs.

(b)The Charterers shall provide all necessary information to the Owners and/or their agents to enable the Owners to submit a timely and accurate cargo declaration. The Charterers shall 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 this sub Clause. Should such failure result in any delay then, notwithstanding any provision in this Charter Party to the contrary, alltime used or lost shall count as laytime or, if the Vessel is already on demurrage, time on demurrage.

(c)The Owners shall assume liability for and shall indemnify, defend and hold harmless the Charterers against any loss and/or damage whatsoever (including consequential loss and/or damage) and any expenses, fines, penalties and all other claims of whatsoever nature, including but not limited to legal costs, arising from the Owners’ 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, all time used or lost shall not count as laytime or, if the Vessel is already on demurrage, time on demurrage.

(d)The assumption of the role of carrier by the Owners 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.

2. Canadian Notification Requirements for Voyage Charter Parties

(a)As between Owners and Charterers, Owners shall be deemed to be the Conveyance Operating Carrier for the purposes of the Canada Customs Act and any relevant regulations, memorandums or notices issued by the Canada Border Services Agency (“CBSA”).

(b)Subject to sub-Clause (c) below, Owners will be responsible for obtaining a Marine Carrier Code (Bonded or Non-Bonded) as may be required and for providing the CBSA with the Advance Commercial Information by Electronic Data Interchange or otherwise on a timely basis.

(c)The Charterers shall provide Owners with all information necessary for the timely and accurate submission of Advance Commercial Information to the CBSA.

(d)Each party shall indemnify the other party for any and all fines, penalties, expenses, loss, damage, delay or any other claim, including attorney’s fees, arising from its failure to comply with this Clause.

(e)For the avoidance of doubt, nothing contained in this Clause is intended to vary any other provision of this charter as to responsibility for cargo and identity of carrier.

52. River Plate Congestion

If the vessel is not allowed to proceed Up River on her arrival at Recalada or Zona Commun or elsewhere due to congestion at the designated Port/Berth, the vessel has the right to tender the N.O.R. at Recalada (or wherever the vessel is stopped by the Port Authorities) and time to commence to count as per terms of the Charter Party. Shifting time from departure Recalada (or wherever the vessel is stopped) to arrive at the loading Port/ Berth not to be counted as laytime or time on demurrage.

53. BIMCO Seaway and Great Lakes Trading Clause

a. Without prejudice to any conditions in this Charter Party applicable to ice, the Charterers shall have the privilege of trading the Vessel to the Great Lakes in the open season but the Vessel shall not be required to enter the St. Lawrence Seaway without the prior consent of the Owners less than 20 days before the officially declared closing date. Even in the event of accident, stranding, collision, engine breakdown or any other cause whatsoever occurring without any personal fault of the Owners, their Managers or Agents, if the Vessel is unable to gain access to the sea because of ice conditions in the Lakes or the St. Lawrence Seaway and/or delays in port or ports and/or locks hindering departure prior to the closing date, hire shall continue during the time of the detention.

b. The Charterers shall be responsible for any penalties imposed by the US/Canadian Authorities for leaving the Seaway after the official closing date unless delay is caused by the Owners.

c. The Charterers shall pay any additional insurance premiums required on hull, machinery, freight and disbursements to operated outside Institute Warranty Limits

d. All St. Lawrence Seaway cargo tolls assessed by Canadian and United States Authorities to be paid by Charterers or their Agents in Canada or the U.S.A. in addition to the freight.

54. BIMCO Ship-to-Ship Transfer Clause for Dry Bulk Voyage Charter Parties

a. The Charterers shall have the right to order the Vessel to conduct ship to ship cargo operations to or from any other vessel(s), including floating cranes and barges, hereinafter “Ship to Ship Operations”. All such Ship-to-Ship Operations shall be at the Charterers’ risk, cost and expense.

b. The Charterers shall direct the Vessel to a safe place, anchorage or berth for the conduct of such Ship-to Ship Operations where the Vessel can safely proceed to, lie and depart from, but always subject to the Master’s approval. The Charterers shall provide adequate fendering, securing and mooring equipment, and/or other equipment, as necessary for these operations, to the satisfaction of the Master.

c. The Charterers shall obtain any and all relevant permissions from proper authorities to perform Ship-to-Ship Operations.

d. If Ship-to-Ship Operations are carried out at a place or anchorage, such place or anchorage shall be considered as a berth. Notice of readiness may be tendered at such place or anchorage and laytime shall count in accordance with the Charter Party. If, at any time, the Master considers that Ship-to-Ship Operations are, or may become, unsafe, he may order them to be suspended or discontinued. In such event the Master shall have the right to order the other vessel(s) away from the Vessel or to remove the Vessel. Any stoppages or additional time attributable to Ship-to-Ship Operations shall not be excluded from laytime or time on demurrage.

e. The Charterers shall indemnify the Owners for any liabilities, losses or costs, arising out of or related to Ship-to-Ship Operations.

55. Swedish Fairway

It is agreed that Swedish fairway dues based on cargo is for Charterers’ account.

56. Towage Clause

Towage, at both ends, even when appointed by the Charterers agents shall be deemed to be the servants of the Owners for all purposes and Charterers/Shippers not to be responsible for their negligence or default. Towage damages at loading and discharging ports, if any, are to be settled directly between Owners and Towage operator, without the intervention of Charterers or Receivers.

57. U.S. Public Health Law Clause

If Vessel calls at any U.S. Port for purpose of loading or discharging cargo and/or Embarking or disembarking passengers, Vessel’s cargo gear and all other Equipment shall comply with regulations established by U.S. Public Law 85-742 Part 9 (Safety and Health Regulations for Longshoring). If longshoremen are not permitted to work due to failure of the Master and/or Owners, agents to comply with aforementioned. Regulations, any delay resulting therefrom shall be for Owners’ account.

It is understood any Vessel under this charter party has not called at a Cuban or North Vietnamese port or place since 1st January 1962, except if USA government Gives permission to such a Vessel with permission to be obtained by Owners.

Owners guarantee that the Vessel is not prohibited from trading with the United States of America by law, order or regulation of the United States Government.

Vessel to comply with U.S. Coast Guard/IMO Regulations for loading intention cargo. Cargo to be loaded within U.S. Coast Guard/IMO Regulations.

58. BIMCO U.S. Security Clause for Voyage Chartering

If the Vessel calls in the United States, including any U.S. territory, the following provisions shall apply with respect to any applicable security regulations or measures:

Reporting

The Vessel or its agents shall report and send all notices as required to obtain entry and exit clearances from the relevant U.S. authorities. Any delay caused by the failure to so report shall be for the Owners’ account, unless such failure to report is caused by or attributable to the Charterers or their representatives or agents including but not limited to the shipper and/or receiver of the cargo.

Clearances

Unless caused by the Owners’ negligence, any delay suffered or time lost in obtaining the entry and exit clearances from the relevant U.S. authorities shall count as laytime or time on demurrage.

Expenses

Any expenses or additional fees relating to the cargo, even if levied against the Vessel, that arise out of security measures imposed at the loading and/or discharging port and/or any other port to which the Charterers order the Vessel, shall be for the Charterers’ account. Notice of Readiness Notwithstanding anything to the contrary contained in this Charter Party the Vessel shall be entitled to tender Notice of Readiness whether cleared for entry or not by any relevant U.S. authority.

59. BIMCO U.S. Tax Reform 1986 Clause

Any U.S. Gross Transportation Tax as enacted by the United States Public Law 99-514, (also referred to as The U.S. Tax Reform Act of 1986), including later changes or

amendments, levied on income attributable to transportation under this charter party which begins or ends in the United States, and which income under the laws of the

United States is treated as U.S. source transportation gross income, shall be reimbursed by the Charterers.

60. BIMCO EU Advance Cargo Declaration Clause for Voyage Charter Parties 2012

a. If the Vessel loads cargo in any EU port or place destined for a port or place outside the EU (“Exported”) or loads cargo outside the EU destined for an EU port or place or passing through EU ports or places in transit (“Imported”) the Owners and the Charterers shall for the purposes of this Clause comply with the requirements of the EU Advance Cargo Declaration Regulations (the Security Amendment to the Community Customs Code , Regulations 648/2005; 1875/2006; and 312/2009) or any subsequent amendments thereto.

b. The Owners shall, in their own name, and in their time and at their expense:

1. Have in place an EORI number (Economic Operator Registration and Identification);

2. Where the cargo is being Imported: Submit, or arrange for the submission of, an entry summary declaration. Unless otherwise permitted by the relevant customs authorities, such declarations shall be submitted to them electronically;

3. Assume liability for and indemnify, defend and hold harmless the Charterers against any 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 Owners’ failure to comply with any of the provisions of this sub-Clause (b). Should such failure result in any delay then, notwithstanding any provision in this Charter Party to the contrary, all time used or lost shall not count as laytime or, if the Vessel is already on demurrage, time on demurrage.

c. The Charterers shall, in their time and at their expense:

1. Provide all necessary information to the Owners and/or their agents to enable the Owners to submit a timely and accurate cargo declaration. Information to be provided no later than three (3) working days prior to loading of the cargo;

2. Where the cargo is being Exported: Submit, or arrange for the submission of, a customs declaration for export, or, if a customs declaration or a re-export notification is not required, an exit summary declaration. Unless otherwise permitted by the relevant customs authorities, such declarations shall be submitted to them electronically;

3. Assume liability for and indemnify, defend and hold harmless the Owners against any 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 this sub-Clause (c). Should such failure result in any delay then, notwithstanding any provision in this Charter Party to the contrary, all time used or lost shall count as laytime or, if the Vessel is already on demurrage, time on demurrage.

61. BIMCO U.S. Wharfage Clause

Vessel dockage, if assessed, to be for account of the vessel whereas any wharfage assessment against or based upon tonnage loaded and/or discharged to be for account of the Charterers or Receivers of the cargo.

61. BIMCO U.S. Wharfage Clause

Vessel dockage, if assessed, to be for account of the vessel whereas any wharfage assessment against or based upon tonnage loaded and/or discharged to be for account of the Charterers or Receivers of the cargo.

62. U.S.A. Clause Paramount

This Bill of Lading shall have effect subject to the provisions of the Carriage of Goods by Sea Act of the United States, approved April 16, 1936, which shall be deemed to be incorporated herein, and nothing herein contained shall be deemed a surrender by the carrier of any of its rights or immunities or an increase of any of its responsibilities or liabilities under the 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.

63. BIMCO Ice Clause for Voyage Charter Parties

The Vessel shall not be obliged to force ice but, subject to the Owners’ approval having due regard to its size, construction and class, may follow ice-breakers.

a. Port of Loading

1. If at any time after setting out on the approach voyage the Vessel’s passage is impeded by ice, or if on arrival the loading port is inaccessible by reason of ice, the Master or Owners shall notify the Charterers thereof and request them to nominate a safe and accessible alternative port. If the Charterers fail within 48 running hours, Sundays and holidays included, to make such nomination or agree to reckon laytime as if the port named in the contract were accessible or declare that they cancel the Charter Party, the Owners shall have the option of canceling the Charter Party. In the event of cancellation by either party, the Charterers shall compensate the Owners for all proven loss of earnings under this Charter Party.

2. If at any loading port the Master considers that there is a danger of the Vessel being frozen in, and provided that the Master or Owners immediately notify the Charterers thereof, the Vessel may leave with cargo loaded on board and proceed to the nearest safe and ice free place and there await the Charterers’ nomination of a safe and accessible alternative port within 24 running hours, Sundays and holidays excluded, of the Master’s or Owners’ notification. If the Charterers fail to nominate such alternative port, the vessel may proceed to any port(s), whether or not on the customary route for the chartered voyage, to complete with cargo for the Owners’ account.*

b. Port of Discharge

1. If the voyage to the discharging port is impeded by ice, or if on arrival the discharging port is inaccessible by reason of ice, the Master or Owners shall notify the Charterers thereof. In such case, the Charterers shall have the option of keeping the Vessel waiting until the port is accessible against paying compensation in an amount equivalent to the rate of demurrage or of ordering the Vessel to a safe and accessible alternative port. If the Charterers fail to make such declaration within 48 running hours, Sundays and holidays included, of the Master or Owners having given notice to the Charterers, the Master may proceed without further notice to the nearest safe and accessible port and there discharge the cargo.

2. If at any discharging port the Master considers that there is a danger of the Vessel being frozen in, and provided that the Master or Owners immediately notify the Charterers thereof, the Vessel may leave with cargo remaining on board and proceed to the nearest safe and ice free place and there await the Charterers’ nomination of a safe and accessible alternative port within 24 running hours, Sundays and holidays excluded, of the Master’s or Owners’ notification. If the Charterers fail to nominate such alternative port, the vessel may proceed to the nearest safe and accessible port and there discharge the remaining cargo.

3. On delivery of the cargo other than at the port(s) named in the contract, all conditions of the Bill of Lading shall apply and the Vessel shall receive the same freight as if discharge had been at the original port(s) of destination, except that if the distance of the substituted port(s) exceeds 100 nautical miles, the freight on the cargo delivered at the substituted port(s) shall be increased proportionately.

64. Swell Clause

The Charterer shall arrange one good, safe, always accessible and swell free berth or Anchorage, suitable for intended operation, and where the vessel can always lie afloat. If any delay occurred due to swelling time to count even vessel on demurrage and bunker costs to be for owners account.

65. Bunker Fuel Sulphur Content Clause

Owners confirm they are aware of the maximum sulphur content requirements of any sulphur emission control area ( seca ) the vessel may be required to enter during the performance of the charter party. Owners shall, without loss of time and/or deviation, use fuels of such specifications and grades to ensure compliance with these requirements. For the purpose of this Clause, seca shall mean areas as stipulated in marpol annex vi and/or zones and/or areas regulated by regional and/or national authorities suc as, but not limited to, the eu and the us environmental protection agency. Owners shall indemnify, defend and hold charterers harmless in respect of any direct or indirect loss, liability, delay, fines, costs or expenses arising or resulting from owners’ failure to comply with this Clause owners shall have the right to bunker enroute in laden condition before entering sulphur emission control area (seca) and owners to do utmost to minimize time loss and deviation in this respect, however same always to be at owners’ expense.

66. I.W.L. Trading Clause

Charterers to pay additional insurance premium on hull and machinery actually paid by owners for breaching I.W.L. Such additional premium not to exceed that for minimum coverage under the London underwriters minimum scale on conditions no wider than their standard form of institute time Clauses.

Owners confirm that hull and machinery policies contain waiver of subrogation rights against charterers for loss of or damage to vessel however caused notwithstanding any term, condition or exception of the charter owners to waive all claims against charterers for damage arising or resulting from navigating outside I.W.L. and/or to ports which are reasonably accessible. Master to exercise due diligence to avoid loss of or damage to ship and cargo.

67. Dog Stowaway Search

Dog stowaway search in South African ports to be for Charterer’s account.

68. AHL Fitted

The vessel shall comply with all Commonwealth of Australia Navigation Orders/Regulations in particular but not limited to, Marine Orders Part 32 (Cargo and Cargo Handling Equipment and Safety Measures) which govern the vessel(s) hold and crane ladders as well as ships cargo handling equipment, and Marine Orders Part 23 (Equipment – Miscellaneous and Safety Measures) which govern gangways. Should the vessel not so comply then responsibility for any modification shall be at Owners risk and time shall not count nor demurrage accrues during the period of such delay and any extra expenses incurred, including cost of labour ordered and not used, to be for Owners account. Owners guarantee the vessel is Australian hold ladders fitted.

69. Arab League

The Vessel is not banned, boycotted, picketed or blacklisted by the Arab league. Should The vessel be banned, boycotted, picketed, blacklisted, troubled or faced with Similar incident(s) at any port or place by shore and/or port labours and/or Tugboats and/or pilots, or by governments and/or any authority by reason of the Vessel’s flag or terms and conditions on which members of the officers/crew are Employed, all consequences and any extra expenses incurred therefrom to be for Owners’ account. Owners/Master warrant that the vessel is not Israeli owned nor under Israeli flag and will not call at an Israeli port during this voyage.

70. Brazilian Environmental Laws

Owners’ also to fully comply with Brazilian Environmental Laws No. 9. 966 dated April 29th 2000, 2. 508 dated March 4th 1998, 2. 870 dated December 10th 1998, NORMAM-20/DPC as per 52/DPC dated June 14th 2005, ANVISA requirements. Any cost incurred, including delays to loading/discharging, as a result of non-compliance with those regulations will be for Owners account.

71. Brazilian Navy Survey Clause

The Owners confirm they will cooperate with Brazilian Navy’s Directorate of Ports and Coasts (Coast Guard Equivalent) (“DPC”) Programme of enforcing IMO/Solas Requirements (especially Rules 6 and 11 Chapter 1 Part B) directed to Bulk Carriers built over eighteen (18) years ago by which:

i.Owners agree to furnish upon request the following documents for DPC’s appraisal:

1. Detailed Survey Report from last dry-docking.

2. Status Report with recommendations or pending items with Classification Society.

3. All certificates required by International Conventions as well as Class Certificates and Vessel’s registration in flag state.

4. Documents proving:


(i)The Owners’ full style;

(ii)Leading Hull underwriters; and

(iii)The Owners’ P & I Club.


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2. General Arrangement;

3. Shell Expansion;

4. Midships Section;

5. Transverse Bulkheads;

6. Longitudinal Bulkheads (if any); and

7. Structural Profile.


II. DPC requires the Owners to have the Vessel inspected prior to loading at a Brazilia port by a qualified surveyor from a recognised Classification Society independent from the Society under which Vessel is classed. The Report of such inspection must be submitted to DPC for final approval at least two (2) days before the Vessel’s arrival at the Loading Port. Any losses, liabilities, directly related costs and consequences incurred by the Charterers arising from such failure to comply with the requirements of this Clause or submit a report satisfactory to DPC shall be for the Owners’ account.


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