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- Ti m e Chart er Agreem ent - Senat ore Shi ppi ng Com pany Li mi t ed and BP Shi ppi ng Lt d.

ORIGINAL BPTIME3 TIME CHARTERPARTY

PRO D U C ED IN ASSO C IATIO N W ITH TH E BALTIC AN D IN TERN ATIO N AL M ARITIM E C O U N CIL (BIM CO ) 1st Edi ti on - February 2001 BP SH IPPIN G LIM ITED Regi st ered i n Engl and and W al es: N o. 140132 Regi st ered O f f i ce:- Breakspear-Park, Breakspear W ay, H em elH em pst ead, H ert s, H P2 4U L.

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INDEX TO CLAUSES - BPTIME3 Clause

Page

Commercial Provisions 1 D el i very and Charter Peri od 6 2 Cancel l ati on 6 3 Redel i very 6 4 N ot i ces of D el i very and Redel i very 7 5 Bunkers on D el i very and Redel i very 7 6 Cargoes 7 7 Tradi ng Li mi t s 7 8 Hi re 7 Owners' Rights and Obligations

9 10 11 12 13

O w ners'O bl i gat i ons 8 M aster and Crew 9 Bi l l s of Ladi ng and W aybi l l s 9 D rugs and Al coholPol i cy 10 D ry-docki ng 10

14

Li en 10

Charterers' Rights and Obligations

15 16 17 18 19

Chart erers'O bl i gat i ons 10 Space avai l abl et o Chart erers 11 Loadi ng and D i scharge / Shi p-t o-shi p Transf ers 11 Perf orm ance of Vessel- Speed and Consum pt i on 11 Of f -hi re 11

20 21 22

Layi ng up 12 St orage 12 13 Sub-l et

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23 24

Supernum erari es 13 Vessel /C argo Inspect i ons / Bunker Surveys 13

Special Provisions

25

Cl ause Param ount 13

26 27 28 29 30 31 32

Sal vage 14 Ice 14 Requi si t i on 14 O ut break of W ar 14 W ar Ri sks 14 G eneralAverage 15 N ew Jason 15

33 34 35 36

Both-to-bl am e Col l i si on 16 Oi l Pol l uti on Preventi on 16 Except i ons 17 Law 17 2

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Codew ord f or t hi s Chart erpart y "BPTIM E3" TIME CHARTERPARTY D ate 20th July 2007 PREAMBLE It is this day agreed between SENATORE SHIPPING COMPANY LIMITED

of ("O w ners") bei ng ow ners /di sponent ow ners of t he m ot or/steam t ank vessel(del et e as appl i cabl e) cal l ed SENATORE and BP SHIPPING LIMITED of ("Vessel ")

("Chart erers") t hat t he servi ce f or w hi ch provi si on i s herei n m ade shal lbe subj ect t ot he t erm s and condi t i ons of t hi s C hart er w hi ch com pri ses t hi s PREAM BLE, PART 1 and PART 2, t ogether w i t ht he O CIM F Vessel Parti cul ars Q uest i onnai re current at t he dat e hereof and t he BPTIM E3 Q uest i onnai re (t oget her ref erred t o as t he "Q uest i onnai re") as att ached heret o. Unless the context otherwise requires, words denoting the singular include the plural and vice versa. In the event of any conflict between the provisions of PART I and PART 2 of this Charter, the provisions of PART 1 shall prevail. In the event of any conflict between the provisions of PART 1 or PART 2 of this Charter and any provisions in the Questionnaire, the provisions of PART 1 or PART 2 of this Charter shall prevail. 3

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PART 1 A. Name of Vessel: SENATORE B. Charter Period: three (3) years plus/minus thirty (30) days in Charterers option

C. Laydays/Cancelling: Com m enci ng: 0001 hours l ocalt i m e on 1st September 2007 ("Com m encem ent D at e") Cancel l i ng: 1600 hours l ocalt i m e on 30th September 2007 ("Cancel l i ng D at e")

D. Place of Delivery: Dropping outward sea pilot one (1) port United States Gulf / Caribbean Sea / United States Atlantic Coast / United Kingdom/Continent /Mediterranean / East Coast Canada within IWL in Owners option*

E. Vessel shall be delivered with the following cargo history:

F. Place of Redelivery: Dropping outward sea pilot one (1) port United Kingdom/Continent/ Mediterranean Sea /East Coast Canada within IWL / United States Atlantic Coast / United States Gulf / Caribbean Sea / in Charterers option

G. Bunkers on Delivery and Redelivery: expected bunker o/b on arrival Cristobal on delivery: 300mt FO RMG 380, 40 mt MGO DMA

H. Rate of Hire: US $26,000 per day/pro rata plus US $1,500 lumpsum, per month for overtime, victualling and representation

I. Owners' Payment Details: The Royal Bank of Scotland Plc - London Credi t Acct : Senat ore Shi ppi ng Com pany Li mi ted Account N r : SEN ASH I-U SD 1 Iban :G B53RBO S16630000345745 Sw i f t : RBO SG B2L

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J.

Bunker Specifications: IFO RMG 380 and MGO DMA, as per ISO 8217-2005, as amended from time to time, always complying with local and IMO SECA regulations and restrictions.

K.

Permitted Cargoes: Crude petroleum and/or its Clean Petroleum Products and Dirty Petroleum Products including CBFS and LSWR however always excluding, Orimulsion, Asphalt, Bitumen, and Casing Head and always in accordance with vessels coating resistance list, class certificates and vessel's trim, stability and stress requirements. Charterers not to redeliver vessel with last cargo CBFS or LSWR Maximum three grades within vessel's natural segregations with double valve separation. If heat is required, the vessel will maintain cargo loaded temperature maximum 135 deg F. Maximum loaded temperature 75 deg C

L.

Trading Limits: Worldwide within IWL and always excluding Albania, North Korea, Orinoco River, Haiti and/or Cuba, Iraq, Yemen, Cambodia, Nonoc Island, Liberia. Sierra Leone, Lebanon, Amazon River, Chinese River Ports, Russian Pacific Ports, Somalia and areas where UN or the flag state sanctions exists. Trading with Israel is permitted except during the last three (3) months of the charter period. Vessel not to force ice nor follow ice breakers

M.

Additional Clauses:

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PART 2 CO M M ERCIAL PRO VISIO N S 1. DELIVERY AND CHARTER PERIOD 1. 1 O w ners agree t ol et and Chart erers agree to hi re the Vessel f rom t he t i m e of del i very f or a C hart er Peri od as set out i n PART 1, Sect i on B. The Vesselshal l be pl aced at t he di sposal of Chart erers at t he Pl ace of D el i very as set out i n PART 1, Sect i on D . The Vesselshal lnot be del i vered t o Charterers pri or t ot he C om m encem ent D at e. U pon del i very t he Vesselshal lbe ti ght , st aunch, st rong, i n every w ay f i tt ed f or servi ce, w i t h cargo spaces, f aci l i t i es and equi pm ent ready t o recei ve, carry and del i ver cargo, and w i th a f ul lcom pl em ent of M ast er, of f i cers and crew f ul l y com pet ent, cert i f i ed and experi enced t o perf orm t he servi ces contract ed f or, and i n al lm at eri alrespect s m eet i ng the descri pt i on of t he Vesselset out i nt he Q uest i onnai re. W i t hout prej udi ce t ot he af oresai d, upon del i very O w ners, M ast er, of f i cers, crew and al ldocum ent s shal lconf orm i n al l part s and i n al lm at eri alrespects w i t ht he responses subm i tt ed i n the Q uest i onnai re.

1. 2

2.

CANCELLATION 2. 1 If t he Vesseli s not ready i n accordance w i t h Cl ause 1 and at Chart erers'di sposalby t he Cancel l i ng D at e (w hi ch t erm shal lf or t he purposes of t hi s Cl ause i ncl ude any new Cancel l i ng D at e det erm i ned under thi s Cl ause 2) C hart erers shal lhave t he opt i on of cancel l i ng t hi s C hart er w i t hi nf ort y-ei ght (48) hours af t er t he C ancel l i ng D ate. O w ners undert ake to not i f y Charterers prom ptl yi f at any ti m e O w ners or the M aster have reason t o bel i eve t hat t he Vesselm ay not be del i vered i n accordance w i th Cl ause 1 by t he Cancel l i ng D at e. Such noti f i cat i on i st o be i n w ri ti ng and shal lstat et he dat e and ti met hat O w ners expect t he Vesselt o be ready t o be del i vered. If at any t i mei t appears t o Charterers t hat t he Vesselw i l lnot be del i vered i n accordance w i t h Cl ause 1 by t he C ancel l i ng D ate, Chart erers m ay requi re O w ners t o st at ei n w ri t i ng t he dat e and ti met hat t hey expect t he Vesselt o be ready t o be del i vered, such st atem ent to be gi ven w i t hi n ni net y-si x (96) hours of Chart erers'request . If t he dat e and t i m e noti f i ed by O w ners pursuant to sub-cl auses 2. 2, 2. 3 or 4. 1f al l s af t er t he Cancel l i ng D at et hen C hart erers shal lhave t he opt i on of cancel l i ng t hi s Chart er w i t hi n one hundred and t w ent y (120) hours of recei pt of the sai d noti ce f rom O w ners or w i t hi nf ort y-ei ght (48) twenty four (24) hours af t er t he Cancel l i ng D at e, w hi chever i s earl i er. If Chart erers do not exerci se t hei r opt i on to cancelthi s Chart er t hen the new Cancel l i ng D at ef or the purpose of t hi s Cl ause 2 shal lbe t w el ve (12) hours af ter t he dat e and ti m e not i f i ed by O w ners pursuant t o sub-cl auses 2. 2 or 2. 3, or such ot her dat e and t i m e as m ay be m ut ual l y agreed. 2. 5 If O w ners f ai l , or f ai lt i m eousl y, t o respond i n w ri t i ng t o Chart erers w hen requi red t o do so under sub-cl ause 2. 3, C hart erers shal lhave t he opt i on of cancel l i ng t hi s Chart er w i t hi n one hundred and t w ent y (120) hours af t er t he peri od al l ow ed f or O w ners'response under sub-cl ause 2. 3, or w i t hi nf ort y-ei ght (48) hours af ter t he Cancel l i ng D at e, w hi chever i s earl i er.

2. 2

2. 3

2. 4

3.

REDELIVERY 3. 1 The Vessel shal lbe redel i vered t o O w ners at t he Pl ace of Redel i very st i pul at ed i n PART 1, Sect i on F on t he expi ry of ot , or as m ay otherw i se be the Chart er Peri od, on com pl et i on of i ts f i nalvoyage on droppi ng l ast out w ard bound pi l agreed.

3. 2 N ot wi thst andi ng the provi si ons of sub-cl auses 1. 1 and 3. 1 hereof , shoul dt he Vesselat t he expi ry of the Chart er Peri od be on a bal l ast voyage to the Pl ace of Redel i very or on a l aden voyage (w hi ch f or t he purposes of t hi s Cl ause shal lbe deem ed t o have com m enced at the end of t he sea

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passage t ot he f i rst l oadport), t hen Charterers shal lhave the use of the Vessel at t he sam e rat e and condi t i ons f or such ext ended t i m e as m ay be necessary f or t he com pl eti on of t he voyage on w hi ch i ti s engaged and, w here requi red, i t s bal l ast voyage t ot he Pl ace of Redel i very. 4. NOTICES OF DELIVERY AND REDELIVERY 4. 1 The bel ow noti ces shal lbe gi ven by O w ners to Chart erers i nt he case of del i very, and by Chart erers t o O w ners i nt he case of redel i very:4. 1. 1 O ne cal endar m onth pri or t o del i very / redel i very, approximate not i ce shal l be gi ven speci f yi ng t he ant i ci pat ed date f or del i very / redel i very. Fi f t een days pri or t o del i very / redel i very, approximate not i ce shal lbe gi ven speci f yi ng t he f i rm dat e and est i m at ed t i m e of del i very / redel i very. Thereaf t er seven, t hree, tw o and one day(s) pri or t o del i very / redel i very, not i ce shal lbe gi ven reconf i rm i ng or advi si ng of any adj ustm ent t ot he date and t i m e gi ven i n accordance w i t h sub-cl ause 4. 1. 2. In addi ti on, duri ng the l ast f ourt een days pri or to del i very / redel i very, prom pt not i ce shal lbe gi ven of any vari at i on of m ore t han si x (6) hours i n the est i m at ed t i m e of del i very / redel i very.

4. 1. 2

4. 1. 3

4. 2

If t he Charter grant s O w ners or C hart erers an opt i on f or t he Pl ace of D el i very or Redel i very, not i ce of the ant i ci pat ed Pl ace of D el i very / Redel i very shal lbe gi ven one cal endar m ont h bef ore del i very / redel i very, and f i rm nom i nat i on of the Pl ace of D el i very / Redel i very shal lbe gi ven f i f t een days bef ore del i very / redel i very. Places of delivery/redelivery shall be nominated together with definitive notices as per clause 4.1.3 and if known expected port of delivery/redelivery be given with notices in 4.1.1 and 4.1.2.

5.

BUNKERS ON DELIVERY AND REDELIVERY 5. 1 The Vessel shal lbe del i vered w i t h about t he quant i ty of f uel s st ated i n PART 1, Sect i on G and shal l be redel i vered wi t h about t he sam e quant i t y. C hart erers shal laccept and pay f or al lf uel s on board at t he ti m e of del i very and O w ners shal laccept and pay f or al l f uel s on board at redel i very (w het her at t he end of t he Chart er Peri od or upon t erm i nat i on of t he Charter f or ot her reasons), al lat the pri ce pai d (net of al ldi scount s and rebat es) as subst ant i at ed by such docum ent s as m ay reasonabl y be requi red. Charterers'paym ent f or f uel s on board at the t i m e of del i very shal lbe m ade toget her w i th the f i rst paym ent of hi re. C hart erers shal l be enti t l ed to deduct f rom the l ast paym ent of hi re t he val ue of f uel s ant i ci pated t o be on board at redel i very.

5. 2

6.

CARGOES 6. 1 6. 2 C hart erers shal lhave t he ri ght t o shi p al ll aw f ulcargoes f al l i ng w i t hi nt he descri pt i on set out i n PART 1, Secti on K. C hart erers shal lnot shi p, nor perm i t to be shi pped, any cargo dangerous t ot he Vessel .

7.

TRADING LIMITS oyed i nl aw f ult rades w i t hi n Inst i tut e W arrant y Li mi t s and w i thi nt he Tradi ng Li mi t s set out i n PART The Vesselshal l be em pl 1, Sect i on L.

8.

HIRE 8. 1 C hart erers shal lpay hi re per day or pro rata f or part of a day f rom t he t i met he Vessel i s del i vered t o Charterers unti l i t s redel i very t o O w ners i nt he currency and at the rate st ated i n PART 1, Secti on H . Al lcal cul at i on of hi re shal lbe by ref erence t o U ni versalTi m e Co-ordi nat ed (U TC).

8. 2 The f i rst paym ent of hi re shal lbe m ade on or about the dat e of del i very, payi ng t he hi re i n advance up t o, but not i ncl udi ng, t he f i rst day of t he succeedi ng m onth. Al lsubsequent paym ent s of hi re shal lbe m ade m onthl yi n advance on the f i rst day of each cal endar m ont ht ot he account st i pul at ed i n PART 1, Sect i on I i nf unds avai l abl et o O w ners on the due date. If , how ever, i na

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gi ven m onth t he due dat ei s a non-banki ng day i nt he U ni t ed St ates (i f hi re i s to be pai di n U S D ol l ars) or i nt he count ry st ated i n PART 1, Sect i on I, t hen t he subj ect m ont h' s hi re shal lbe pai d on the next banki ng day.

8. 3

Hi re f or the m onth i n w hi ch t he ant i ci pated dat ef or redel i very f al l s shal lbe m ade up t o and i ncl udi ng t he ant i ci pated date of redel i very. Any necessary adj ustm ent s shal lbe m ade by paym ent by O w ners t o Chart erers or by Chart erers to O w ners, as t he case m ay be, w i t hi nt w ent y-ei ght (28) days af ter redel i very. W here t here i saf ai l ure to pay hi re by t he due dat e, O w ners shal lnot i f y Chart erers i n w ri t i ng of such f ai l ure. W i thi n f i ve (5) banki ng days of recei pt of such noti f i cat i on Charterers shal lpay t he am ount due, f ai l i ng w hi ch O w ners shal l have t he ri ght to suspend t he perf orm ance of any or al lof thei r obl i gat i ons under t hi s Charter and/or t o wi t hdraw the Vessel . If O w ners el ect t o suspend perf orm ance of t he Charter i n respect of a part i cul ar l at e paym ent ,t hey m ay st i l l , notw i t hst andi ng t hat suspensi on of perf orm ance, w i t hdraw t he Vesself rom t he C hart er i n respect of that l at e paym ent provi ded t hey gi ve a f urther tw enty-f our (24) hours'not i ce i n w ri t i ng of t hei ri nt enti on t o wi t hdraw . U nder no ci rcum st ances shal lt he act of suspendi ng perf orm ance be const rued as a w ai ver by O w ners of the ri ght t o wi t hdraw i n respect of t he cont i nui ng f ai l ure t o pay hi re or any subsequent l at e paym ent of hi re under t hi s Chart er. Throughout any peri od of suspended perf orm ance under thi s Cl ause, t he Vesseli s to be and shal lrem ai n on hi re. C hart erers undert ake to i ndem ni f y O w ners i n respect of any l i abi l i t i es i ncurred by O w ners under the bi l lof l adi ng or any other contract of carri age as a consequence of O w ners'proper suspensi on of and/or w i thdraw alf rom any or al l of thei r obl i gat i ons under t hi s Charter. O n product i on of support i ng vouchers, Chart erers shal lbe ent i tl ed t o deduct f rom hi re any expendi t ure i ncurred on behal f of O w ners w hi ch i sf or O w ners'account under t hi s C hart er as w el las any ot her costs and expenses due t o C hart erers w hi ch t hi s C hart er ent i t l es t hem t o deduct f rom hi re. Charterers shal lbe ent i t l ed t o a com m i ssi on of 2. 5% on expendi t ure set t l ed on behal f of O w ners. C hart erers m ay, at any t i m e duri ng t he t hree m ont hs pri or to the end of t he Chart er Peri od set out i n PART 1, Sect i on B, deduct f rom hi re any am ount w hi ch they reasonabl y esti m at e wi l lbe due t ot hem at t he end of t he C hart er Peri od i n respect of expendi t ure on behal f of O w ners, bunkers on redel i very, anti ci pat ed perf orm ance cl ai m s and any ot her si mi l ar cl ai m s Charterers m ay have agai nst O w ners.

8. 4

8. 5

8. 6

OWNERS' RIGHTS AND OBLIGATIONS 9. OWNERS' OBLIGATIONS 9. 1 Wi thout prej udi ce t o Cl ause 1, O w ners shal lexerci se due di l i gence t o m ai nt ai nt he Vesseli n, or rest ore the Vesselt o, the condi ti on requi red pursuant t o Cl ause 1 t hroughout t he Chart er Peri od. O w ners undert ake that f rom the dat e of ent eri ng i nto thi s Chart er t he cl assi f i cat i on soci et y, f l ag, ow nershi p, m anagem ent (w het her t echni calor com m erci al ) and P& I Insurers of the Vesselshal l not change w i t hout Chart erers' pri or consent .W i t hout prej udi ce t o any ot her ri ght that Chart erers m ay have, a breach of thi s provi si on w i l l ent i t l e C hart erers t ot erm i nat e thi s Chart er, w hereupon O w ners shal lrei m burse Chart erers w i t h any hi re pai di n advance and not earned. Shoul d Charterers w i t hhol d consent under thi s Cl ause, t hen O w ners m ay requi re Chart erers t o prom pt l yi dent i f yt ot hem an al t ernat i ve acceptabl et o Chart erers. O w ners undert ake that f rom the dat e of ent eri ng i nto thi s Chart er t he am ount of H ul land M achi nery i nsurance on the lnot change w i t hout Chart erers'pri or consent , w hi ch shal lnot be unreasonabl y wi t hhel d. Vesselshal Wi thout prej udi ce t o Cl ause 1, and provi ded al w ays t hat O w ners are grant ed a reasonabl et i m e to perf orm cl eani ng, O w ners shal lt hroughout the Chart er Peri od ensure t hat t he Vesselpresent sf or l oadi ng w i t hi t st anks, pum ps and pi pel i nes properl y prepared t ot he sat i sf acti on of any i nspector appoi nt ed by or on behal f of Chart erers and ready f or l oadi ng t he cargo speci f i ed by C hart erers. Vessel to be delivered with either clean or dirty background/condition. 8

9. 2

9. 3

9. 4

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9. 5

O w ners shal lrem ai n responsi bl ef or t he navi gat i on of t he Vessel , act s of pi l ot s, t ug boat s and crew , sam e as w hen tradi ng f or t hei r ow n account . O w ners undert ake that t hroughout t he peri od of thi s Chart er t hey w i l l , at t hei r ow n expense, com pl y wi t h the regul at i ons i nf orce f rom t i m e to ti m e so as t o enabl et he Vesselt o pass t hrough t he Suez and Panam a Canal s by day and by ni ght w i t hout del ay. Wi thout l i mi t ati on t ot he f oregoi ng, O w ners shal lprovi de and pay f or:9. 6. 1 provi si ons, w ages (i ncl udi ng overt i m e), di schargi ng f ees and al lot her expenses rel at ed to the M ast er, of f i cers and crew ; and cabi n, deck, engi ne-room and ot her necessary stores, i ncl udi ng dom esti c w at er (but always excluding fresh water for tank cleaning which shall always be for Charterers account); radi ot raf f i c and ot her com m uni cati on expenses; and i nsurance on the Vesself ul l y coveri ng P& I ri sks and (w i t hout prej udi ce to C hart erers'ri ght s to f reel yt rade the Vessel ) st andard oi lpol l ut i on cover up to the l evelcust om ari l y of f ered by t he Int ernat i onal G roup of P & I Cl ubs (current l y U S$1, 000 m i l l i on), H ul land M achi nery and basi c W ar Ri sks i n accordance w i t ht he i nf orm at i on set out i n the Q uest i onnai re; and al l docum entat i on requi red t o perm i tt he Vesselto trade w i t hi n the Tradi ng Li mi t s set out i n PART 1, Sect i on L, i ncl udi ng but not l i mi ted t ot he certi f i cat es and docum ent at i on conf i rm ed by O w ners i n the Q uest i onnai re t o be i n pl ace and such docum entat i on shal lbe m ai nt ai ned i nf orce duri ng t he currency of t he Charter.

9. 6

9. 6. 2

9. 6. 3 9. 6. 4

9. 6. 5

10.

MASTER AND CREW 10. 1 The M aster, al t hough appoi nt ed by O w ners, shal lt hroughout t he C hart er Peri od be under t he orders and di recti ons of C hart erers as regards em pl oym ent , agency or ot her arrangem ent s and shal lrender C hart erers al lreasonabl e assi st ance w i t ht he of f i cers, crew and equi pm ent (i ncl udi ng but not l i mi t ed t o connect i ng and di sconnect i ng hoses f or l oadi ng and di schargi ng, veri f yi ng f uelsam pl es and t he procedure associ ated w i th t he del i very of f uel ) and suppl y C hart erers w i th such i nf orm at i on and docum entat i on as t hey m ay f rom t i met ot i m e requi re (i ncl udi ng but not l i mi ted to l ogs, t i m e sheets, saf et y perf orm ance i nf orm at i on and cert i f i cat i on rel at i ng t o of f i cers, crew or Vessel ). The M aster shal l ,t hroughout t he Chart er Peri od, operate t he Vesseland carry out hi s dut i es i n a m anner consi st ent wi t h good seam anshi p, com pl yi ng w i t ht he recom m endat i ons set out i n the l atest edi t i on of ISG O TT and m ai nt ai ni ng the saf et y of t he Vessel ,i t s crew , the cargo and t he envi ronm ent , and shal lprosecut e al lvoyages w i t h due despat ch. The M aster shal lobserve regul at i ons and recom m endat i ons as t ot raf f i c separat i on and routei ng as i ssued, f rom t i me to ti m e, by responsi bl e organi sat i ons or regul at ory aut hori t i es, or as prom ul gated by t he St at e of t he f l ag of t he Vesselor t he Stat ei n w hi ch m anagem ent of t he Vessel i s exerci sed. If Chart erers are di ssat i sf i ed w i t h the conduct of t he M ast er or any of f i cer or crew m em ber, O w ners shal lon recei vi ng part i cul ars of t he com pl ai nt , prom pt l yi nvest i gat et he sam e, and, i f necessary, m ake a change i nt he appoi nt m ent .

10. 2

10. 3

10. 4 11.

BILLS OF LADING AND WAYBILLS 11. 1 Bi l l s of l adi ng and w aybi l l s shal lbe si gned as Chart erers di rect, w i thout prej udi ce t ot hi s Chart er. Chart erers hereby i ndem ni f y O w ners:11. 1. 1 agai nst al ll i abi l i t i es that m ay ari se f rom t he si gni ng of bi l l s of l adi ng and w aybi l l si n accordance w i t ht he di rect i ons of Chart erers t ot he ext ent t hat t he t erm s of such bi l l s of l adi ng and w aybi l l si m pose m ore onerous s Chart er; and l i abi l i ti es t han t hose assum ed by O w ners under the t erm s of thi 11. 1. 2 agai nst cl ai m s brought by hol ders of bi l l s of l adi ng and w aybi l l s agai nst O w ners by reason of any devi ati on ordered by Charterers. 9

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11. 2 12.

Al lbi l l s of l adi ng and w aybi l l si ssued under t hi s C hart er shal li ncl ude a Cl ause Param ount and W ar Ri sks, N ew Jason, G eneralAverage, and Bot h-to-Bl am e Col l i si on cl auses, i nt he f orm set out i n thi s Chart er.

DRUGS AND ALCOHOL POLICY 12. 1 O w ners undert ake that t hey have, and shal lm ai ntai nf or t he durat i on of t hi s Charter, a pol i cy on D rugs and Al cohol Abuse appl i cabl e to the Vessel (the "D & A Pol i cy") t hat m eets or exceeds t he st andards i nt he O CIM F G ui del i nes f or the Controlof D rugs and Al coholO nboard Shi p 1995 as am ended f rom ti met ot i m e. O w ners shal lexerci se due di l i gence t o ensure t hat t he D & A Pol i cy i s underst ood and com pl i ed w i t h on and about t he Vessel . An act uali m pai rm ent , or any t est f i ndi ng of i m pai rm ent, shal lnot i n and of i t sel f m ean t hat O w ners have f ai l ed t o exerci se due di l i gence.

12. 2

13.

DRY-DOCKING - see additional clause 6 Wi t hout prej udi ce t o Cl ause 19, O w ners shal lhave t he ri ght at t hei r expense t ot ake t he Vessel out of servi ce, i ncl udi ng pl aci ng t he Vessel i n dry-dock. For em ergency repai rs t hi s ri ght m ay be exerci sed i n accordance w i t h O w ners'di screti on. For rout i ne m ai nt enance and surveys, t he ri ght m ay onl y be exerci sed at a t i m e and pl ace m ut ual l y agreed upon by O w ners and Charterers.

14.

LIEN O w ners shal lhave a l i en upon al lcargoes, hi re, sub-hi re, f rei ght s and sub-f rei ght sf or any am ount s ow ed by Chart erers under thi s Chart er.

CHARTERER'S RIGHTS AND OBLIGATIONS 15. CHARTERERS' OBLIGATIONS 15. 1 15. 2 C hart erers shal lf urni sh t he M ast er w i t hf ul land t i m el yi nst ruct i ons. C hart erers shal lprovi de and/or pay f or:15. 2. 1 al lf uel s of a qual i t y sui t abl ef or burni ng i nt he Vessel ' s engi nes and auxi l i ari es (w hi ch shal l com pl y wi t ht he descri pt i on i n PART 1, Sect i on J) except f or quant i ti es of f uelconsum ed w hi l et he Vesseli s of f -hi re w hi ch shal l be f or O w ners'account ; and 15. 2. 2 port charges, l i ght and canaldues, and al lot her charges or expenses rel ati ng t ol oadi ng and di schargi ng; and 15. 2. 3 agency f ees f or norm alshi p' s husbandry at al l pl aces or ports of cal l ; and 15. 2. 4 t ow age, pi l ot age and al lm oori ng, l oadi ng and di schargi ng f aci l i ti es and servi ces, provi ded al w ays t hat Chart erers shal lbear no l i abi l i t yf or t he negl i gence or m i sconduct exerci sed by the provi ders of such servi ces and f aci l i t i es. 15. 3 Any addi t i onal prem i um s charged by t he provi ders of oi l pol l ut i on cover by reason of l oadi ng or di schargi ng at port s i nt he U SA or U SA-cont rol l ed t erri tori es shal lbe f or Charterers'account and shal lbe re-i m bursed t o O w ners toget her wi t ht he i nstal m ent of hi re next f al l i ng due f ol l ow i ng presentat i on t o Chart erers of proper recei pt s evi denci ng paym ent. C hart erers w i l lnot suf f er, nor perm i tt o be cont i nued, any l i en or encum brance i ncurred by t hem or thei r agent s, w hi ch m i ght have pri ori t y over t he t i tl e and i nt erest of O w ners. 10

15. 4

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16.

SPACE AVAILABLE TO CHARTERERS 16. 1 The w hol e reach, burthen and decks of the Vessel , and i ts passenger accom m odat i on (i ncl udi ng O w ners'sui te i f any), shal lbe at Charterers'di sposal , reservi ng onl y proper and suf f i ci ent space f or t he Vessel ' s M aster, of f i cers, crew , tackl e, apparel ,f urni t ure, provi si ons, st ores and l ubri cati ng oi l . The w ei ght of st ores and l ubri cat i ng oi lstored on board shal lnot at any t i m e duri ng t he C hart er Peri od, unl ess speci f i cal l y agreed, exceed t he tonnage show n i n the Q uest i onnai re.

16. 2 17.

LOADING AND DISCHARGE / SHIP-TO-SHIP TRANSFERS 17. 1 The Vessel shal lbe l oaded and di scharged at any port (w hi ch t erm f or t he purpose of t hi s Charter shal li ncl ude any port, bert h, dock, l oadi ng or di schargi ng anchorage or of f shore l ocati on, subm ari ne l i ne, si ngl e poi nt or si ngl e buoy m oori ng f aci l i t y, al ongsi de vessel s or l i ghters or any other pl ace w hatsoever as t he context requi res) i n accordance wi t h Chart erers'i nst ruct i ons. Bef ore i nstruct i ng O w ners t o di rect t he Vessel t o any port , C hart erers shal l exerci se due di l i gence t o ascert ai nt he saf et y of such port , but Chart erers do not w arrant t he saf ety of any port and shal lbe under no l i abi l i t yi n respect thereof except f or l oss or dam age caused by Chart erers'f ai l ure to exerci se due di l i gence. C hart erers shal lhave t he opt i on of t ransf erri ng t he w hol e or part of t he cargo (w hi ch shal li ncl ude toppi ng-of f and l i ght eni ng) t o or f rom any ot her vesseli ncl udi ng, but not l i mi ted t o, an ocean goi ng vessel , barge and/or l i ght er (t he "Transf er Vessel "). Al ltransf ers of cargo t o or f rom Transf er Vessel s shal lbe carri ed out i n accordance w i th t he recom m endat i ons set out i nt he l at est edi t i on of the "ICS/O CIM F Shi pt o Shi p Transf er G ui de (Pet rol eum )". O w ners undertake t hat t he Vessel and i t s crew shal lcom pl y wi t h such recom m endat i ons, and si mi l arl y Chart erers undert ake that t he Transf er Vessel and i t s crew shal lcom pl y wi t h such recom m endat i ons. Chart erers shal lprovi de and pay f or al l necessary equi pm ent i ncl udi ng sui t abl ef enders and cargo hoses. Chart erers shal lhave t he ri ght , at t hei r expense, t o appoi nt supervi sory personnelt o at t end on board the Vessel ,i ncl udi ng a m oori ng m aster, t o assi st i n such transf ers of cargo. Charterers are permitted to use the vessel for upto maximum two (2) lighterage operations per calendar month.

17. 2

18.

PERFORMANCE OF VESSEL - SPEED AND CONSUMPTION 18. 1 U nl ess ot herw i se ordered by C hart erers, the Vesselshal l perf orm al lvoyages at t he servi ce speed st at ed i nt he Q uesti onnai re. O w ners w arrant t hat t he Vesseli s and shal lrem ai n capabl e of m ai nt ai ni ng, t hroughout t he Chart er Peri od, t he speeds and bunker consum pti ons f or propul si on descri bed i nt he Q uest i onnai re under norm alw orki ng condi t i ons and i n m oderat e w eat her (w hi ch f or t he purpose of thi s Cl ause shal lexcl ude any peri ods of w i nds exceedi ng Force 5 on the Beauf ort Scal e). Chart erers shal lhave t he ri ght to m ake deduct i ons f rom hi re i n respect of any t i mel ost and any addi t i onalbunkers consum ed by reason of t he Vessel ' sf ai l ure t o m ai nt ai nt he w arrant ed capabi l i t y. Any overperformance to offset any under-performance provided it is understood that Charterers shall not be under any obligation to pay any more than the hire rate.

18. 2

19.

OFF-HIRE 19. 1 The Vessel shal lbe of f hi re on each and every occasi on t hat t here i sal oss of ti m e ari si ng out of or In connect i on w i t h the Vesselbei ng unabl et o com pl y wi t h C hart erers'i nst ruct i ons (w het her by w ay of i nt errupt i on or reduct i on i nt he Vessel ' s servi ces, or i n any ot her m anner) on account of :19. 1. 1 any dam age, def ect , breakdow n, def i ci ency of or acci dent t ot he Vessel ' s hul l , m achi nery, equi pm ent or cargo handl i ng f aci l i t i es, or m ai nt enance theret o; or 19. 1. 2 any def aul t and/or def i ci ency of t he M ast er, of f i cers or crew , i ncl udi ng t he f ai l ure or ref usalor i nabi l i ty of t he M aster, of f i cers and/or crew t o perf orm t he servi ces requi red; or 19. 1. 3 any breach of sub-cl ause 9. 6. 5; or 11

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19. 1. 4 any ot her cause prevent i ng t he f ul lw orki ng of t he Vessel . N ot wi thst andi ng the af oresai d, i f the t ot al l oss of t i m e pursuant t ot hi s sub-cl ause 19. 1i sl ess than t hree hours i n any one cal endar m onth, t he Vesselshal lnot be of f -hi re. 19. 2 If t he Vesseldevi at es, unl ess ordered t o do so by C hart erers, i t shal lbe of f -hi re f rom t he com m encem ent of such devi at i on unt i lthe Vessel i s agai n ready t o resum e i t s servi ce f rom a posi ti on not l ess f avourabl et o C hart erers t han that at w hi ch t he devi ati on com m enced. For t he purposes of t hi s Cl ause the t erm devi at i on shal li ncl ude st oppi ng, reduci ng speed, putt i ng back or put ti ng i nt o any port or pl ace ot her t han that t o w hi ch i ti s bound under t he i nst ruct i ons of Chart erers f or any reason w hat soever, i ncl udi ng f or m ai nt enance, dry-docki ng, taki ng on st ores or f resh w at er, but shal lexcl ude devi at i ons m ade t o save l i f e or propert y. Shoul dt he Vesseldevi at e to avoi d bad w eat her or be dri ven i nt o port or anchorage by st ress of w eat her, t he Vesselshal lrem ai n on hi re and al lport cost s thereby i ncurred and bunkers consum ed shal l be f or Chart erers'account . Any servi ce gi ven or di st ance m ade good by the Vesselw hi l e of f -hi re shal lbe t aken i nt o account i n assessi ng t he am ount t o be deduct ed f rom hi re. Any t i m e duri ng w hi ch the Vesseli s of f -hi re under thi s Chart er m ay be added, at Chart erers'opt i on, t ot he C hart er Peri od. Such opt i on shal lbe decl ared i n w ri t i ng not l ess than one m ont h bef ore the expect ed date of redel i very, or prom pt l yi f such event occurs l ess t han one m onth bef ore the expi ry of the Chart er Peri od. If Charterers exerci se thei r opti on t o ext end t he C hart er Peri od pursuant t ot hi s Cl ause, t he Charter Peri od shal lbe deem ed t oi ncl ude such ext ensi on and hi re shal l be payabl e at t he rat e(s) w hi ch w oul d have been payabl e but f or t he rel evant of f -hi re event .

19. 3

20.

LAYING UP et o O w ners. Chart erers Charterers shal lhave the opt i on t ol ay up the Vessel at a pl ace nom i nated by t hem and acceptabl shal l exerci se due di l i gence to ascertai nt he saf et y of such pl ace but shal lbe under no l i abi l i t yi n respect t hereof except f or l oss or dam age caused by Chart erers'f ai l ure t o exerci se due di l i gence. If C hart erers exerci se t he opt i on to l ay up t he Vessel t hen t he hi re sti pul at ed i n PART 1, Secti on H shal lbe adj ust ed t o ref l ect any net i ncrease i n expendi ture reasonabl yi ncurred (i ncl udi ng but not l i mi t ed to costs reasonabl yi ncurred i n prepari ng the Vesself or l ay up as w el las rest ori ng i tt ot he condi t i on i n w hi ch i t w as i m m edi at el y pri or to l ayi ng up) or net savi ng w hi ch shoul d reasonabl y be m ade by O w ners as a resul t of such l ay up.

21.

STORAGE Charterers shal lhave the opt i on of usi ng t he Vessel f or f l oat i ng st orage but Chart erers undert ake not t o use t he Vesself or f l oat i ng storage i n areas w here addi t i onalprem i um s f or W ar Ri sks Insurance are charged by t he Vessel ' s W ar Ri sks Insurance underw ri t ers.

Vessel to be used as a storage tanker maximum 30 days per year, provided that: a. Storage operations are carried out in a sheltered and safe location at Master's discretion and the vessel can be at anchor or drifting during floating operations always at Owners discretion

b. Extra fresh water, if needed, to be for Charterers account.

c. Bunkers consumed during storage operations shall not account for vessel's performance as per clause 18.

d. If the Vessel stays or is laid up for more than 20 days in a port and/or anchorage and/or berth, then Owners to notify Charterers that the Vessel's performance may be affected and Owners will not be responsible for changes in the Vessel's description of speed and consumptions, until the Vessel's hull has been scrubbed which Owners shall arrange at their and Charterers' earliest convenience, and which shall be at Charterers' time and expense. For the avoidance of about, under this clause if the vessel stays or is laid up for more than 20 days as a result of Owners act and/or omission and/or breach of charter then the warranted speed and consumption figures will apply and the cost of any hull cleaning will be for Owners account, and the vessel will be off-hire for the period of any such hull cleaning

12

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22.

SUB-LET Charterers m ay sub-l et the Vesselw i t hout prej udi ce t ot he respect i ve ri ght s and obl i gat i ons of ei ther part y under t hi s Charter and provided Charterers shall remain responsible towards Owners for the performance of this charter party.

23.

SUPERNUMERARIES Charterers m ay send upon reasonabl e not i ce supernum erari es i nt he Vessel ' s avai l abl e accom m odat i on upon any voyage m ade under t hi s Chart er. In such event O w ners shal lprovi de provi si ons and al lrequi si tes, as suppl i ed to of f i cers, except al cohol . Charterers shall pay the rate of US$20 per day for each representative while on board of the vessel. Charterers' representative shall sign Owners' P&I letter of indemnity prior to boarding

24.

VESSEL/CARGO INSPECTIONS/BUNKER SURVEYS Charterers at their time and expense shal lbe ent i t l ed to cause t hei r representat i ve (w hi ch t erm i ncl udes any i ndependent surveyor appoi nt ed by C hart erers) t o carry out i nspecti ons of the Vesseland/or observe cargo operat i ons and/or ascert ai nt he quant i t y and qual i t y of t he cargo, w at er and resi dues on board, i ncl udi ng t he t aki ng of cargo sam pl es, i nspect i on and copyi ng of t he Vessel ' sl ogs, docum ent s and records (w hi ch shal li ncl ude but not be l i mi t ed t ot he personal not es of t he M ast er, of f i cers or crew rel at i ng t ot he operat i on of t he Vessel ,t he rough l og book and com put er generat ed dat a) at any l oadi ng and/or di scharge port . Charterers'represent at i ve m ay al so conduct any of t he af orem ent i oned operat i ons at or of f any ot her port t o w hi ch C hart erers m ay requi re t he M ast er t o di vert t he Vesselat any t i m e af t er l eavi ng any l oadi ng port . Charterers shal lobt ai nt he consent of the ow ners of any cargo on board at t he t i m e bef ore requi ri ng t he Vesselto be di verted. Charterers'represent at i ve shal l be enti t l ed t o survey, and t ake sam pl es f rom , any or al lof t he Vessel ' s cargo tanks, bunker f ueltanks and non-cargo spaces at any pl ace ref erred t o above.

SPECIALPROVISIONS 25. CLAUSE PARAMOUNT Charterers undert ake t hat al lbi l l s of l adi ng and w aybi l l si ssued under t hi s Chart er shal lcont ai nt he f ol l ow i ng: "CLAU SE PARAM O U N T (1) Thi s Bi l lof Ladi ng shal lhave ef f ect subj ect to any nat i onall aw m aki ng t he Int ernat i onalConventi on f or t he uni f i cati on of cert ai n rul es of l aw rel at i ng to bi l l s of l adi ng si gned at Brussel s on 25t h August 1924 (The H ague Rul es) or t he H ague Rul es as am ended by t he Prot ocolsi gned at Brussel s on 23rd February 1968 (The H ague/Vi sby Rul es) com pul sori l y appl i cabl et ot hi s Bi l lof Ladi ng. If any t erm of t hi s Bi l lof Ladi ng be repugnant to that l egi sl at i on t o any ext ent , such t erm shal lbe voi d to t hat ext ent but no f urther. N ei t her t he H ague Rul es nor t he H ague/Vi sby Rul es shal lappl yt ot hi s Bi l lof Ladi ng w here the goods carri ed hereunder consi st of l i ve ani m al s or cargo w hi ch by t hi s Bi l lof Ladi ng i s st ated as bei ng carri ed on deck and i s so carri ed. (2) Save w here t he H ague or H ague/Vi sby Rul es appl y by reason of (1) above, thi s Bi l l of Ladi ng shal lt ake ef f ect subj ect t o any nati onall aw i nf orce at t he port of shi pm ent or pl ace of i ssue of t he Bi l lof Ladi ng m aki ng t he U ni t ed N at i ons Convent i on on t he Carri age of G oods by Sea 1978 (the H am burg Rul es) com pul sori l y appl i cabl e to thi s Bi l l of Ladi ng i n w hi ch case thi s Bi l l of Ladi ng shal lhave ef f ect subj ect t ot he H am burg Rul es w hi ch shal l nul l i f y any st i pul ati on derogati ng t heref rom t ot he det ri m ent of the shi pper or consi gnee. es are not com pul sori l y appl i cabl e to thi s Bi l l of Ladi ng, the carri er shal l (3) W here t he H ague, H ague/Vi sby or H am burg Rul be ent i t l ed t ot he benef i t s of al lpri vi l eges, ri ght s and i m m uni t i es cont ai ned i n Art i cl es I t o VIII of t he H ague/Vi sby Rul es. (4) N ot hi ng i nt hi s Bi l lof Ladi ng shal lbe const rued as i n any w ay rest ri ct i ng, excl udi ng or w ai vi ng t he ri ght of any rel evant part y or person t ol i mi t hi sl i abi l i t y under any avai l abl el egi sl at i on and/or l aw ". 13

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26.

SALVAGE The M ast er i s aut hori sed t o render assi st ance t o ot her vessel s. Al l sal vage and rem unerat i on f or such assi st ance shal l be f or O w ners'and Charterers'equalbenef i t af t er deduct i ng t he M aster' s and Crew ' s proport i on and al l cost s, expenses and sacri f i ces (i ncl udi ng but not l i mi t ed t ol oss of t i m e, of f -hi re, hi re pai d, repai rs t ot he Vesseland bunker f uelconsum ed). Any non-cont ract uall i abi l i t y to t hi rd part i es shal lbe f or O w ners'account unl ess i t sol el y af f ect st he sal vage rem unerati on.

27.

ICE The Vesselshal l not be requi red to ent er or rem ai ni n any i cebound port or area nor follow ice-breakers, nor any port or area w here l i ght s, l i ght shi ps, m arkers or buoys have been or are about to be w i t hdraw n by reason of i ce, nor w here on account of i ce t here i s, i nt he M aster' s sol e di scret i on, a ri sk t hat, i n the ordi nary course of event s, t he Vesselw i l lnot be abl e saf el yt o ent er and rem ai n at t he port or area or t o depart af t er com pl et i on of l oadi ng or di schargi ng. The Vesselshal l not be obl i ged to f orce i ce but , subj ect -t o-O w ners pri or approval , m ay f ol l ow i ce-breakers w hen reasonabl y requi red, w i th due regard t oi t s si ze, construct i on and cl ass. If , on account of i ce, t he M ast er i n hi s sol e di scret i on consi ders i t -unsaf et o proceed to, enter or rem ai n at t he pl ace of l oadi ng or di schargi ng f or f ear of t he Vesselbei ng f rozen i n and/or-dam aged, he shal l be at l i bert yt o sai lt ot he nearest i ce-f ree pl ace and there aw ai t Charterers'i nst ruct i ons.

28.

REQUISITION Shoul dt he Vessel be requi si t i oned by any governm ent , de facto or de jure, duri ng t he peri od of thi s Chart er, t he Vessel shal l be of f -hi re duri ng t he peri od of such requi si ti on, and any hi re pai d by such governm ent and cost si ncurred i n respect of such requi si ti on shal l be f or O w ners'account . The opt i on grant ed t o Chart erers i n sub-cl ause 19. 3 shal lnot appl y to peri ods of of f -hi re pursuant t ot hi s Cl ause 28.

29.

OUTBREAK OF WAR Ei t her part y m ay cancelt hi s Charter on t he out break of w ar or host i l i t i es bet w een any t w o or m ore of t he f ol l ow i ng count ri es: t he U ni ted St at es of Am eri ca, the Russi an Federat i on, the U ni t ed Ki ngdom , France and t he Peopl e' s Republ i c of Chi na thereby affecting vessel's trading.

30.

WAR RISKS 30. 1 For t he purpose of t hi s Cl ause, the w ords: 30. 1. 1 "O w ners" shal li ncl ude t he shi pow ners, bareboat chart erers, di sponent ow ners, m anagers or other operat ors w ho are charged w i t h the m anagem ent of t he Vessel , and t he M ast er; and 30. 1. 2 "W ar Ri sks" shal li ncl ude any w ar (w het her act ualor t hreat ened), act of w ar, ci vi lw ar, host i l i t i es, revol ut i on, rebel l i on, ci vi lcom m ot i on, w arl i ke operat i ons, t he l ayi ng of m i nes (w hether actualor report ed), act s of pi racy, act s of t errori st s, act s of host i l i t y or m al i ci ous dam age, bl ockades (w het her i m posed agai nst al l vessel s or i m posed sel ect i vel y agai nst vessel s of cert ai nf l ags or ow nershi p, or agai nst certai n cargoes or crew s or ot herw i se how soever), by any person, body, t errori st or pol i t i calgroup, or t he G overnm ent of any st ate w hatsoever, w hi ch, i nt he reasonabl ej udgem ent of t he M ast er and/or O w ners, m ay be dangerous or are l i kel yt o be or t o becom e dangerous t ot he Vessel ,i t s cargo, crew or ot her persons on board t he Vessel . 30. 2 The Vessel , unl ess t he w ri t t en consent of O w ners be f i rst obt ai ned, shal lnot be ordered t o or requi red t o cont i nue t o or t hrough, any port , pl ace, area or zone (w het her of l and or sea), or any w at erw ay or canal , w here i t appears t hat the Vessel ,i t s cargo, crew or other persons on board t he Vessel ,i nt he reasonabl ej udgem ent of t he M ast er and/or O w ners, m ay be, or are l i kel yt o be, exposed t o W ar Ri sks. Shoul dt he Vesselbe w i t hi n any such pl ace as af oresai d, w hi ch onl y becom es dangerous, or i sl i kel yt o be or to becom e dangerous, af t er i t s entry i nto i t ,t he Vessel shal lbe at l i bert yt ol eave i t . 14

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30. 3

The Vessel shal lnot be requi red t ol oad cont raband cargo, or t o pass through any bl ockade, w hether such bl ockade be i m posed on al lvessel s, or i si m posed sel ect i vel yi n any w ay w hatsoever agai nst vessel s of cert ai nf l ags or ow nershi p, or agai nst cert ai n cargoes or crew s or ot herw i se how soever, or t o proceed to an area w here i t shal lbe subj ect , or i sl i kel yt o be subj ect t o a bel l i gerent' s ri ght of search and/or conf i scat i on. O w ners m ay ef f ect w ar ri sks i nsurance i n respect of t he H ul land M achi nery of t he Vessel and t hei r ot her i nt erest s (i ncl udi ng, but not l i mi t ed t o, l oss of earni ngs and detent i on, t he crew and t hei r Protect i on and Indem ni ty Ri sks), and the prem i um s and/or cal l st heref or shal lbe f or thei r account . If t he U nderw ri t ers of such i nsurance shoul d requi re paym ent of prem i um s and/or cal l s because, pursuant t o thi n, any area or areas w hi ch are speci f i ed by C hart erers'orders, t he Vesseli swi t hi n, or i s due t o enter and rem ai n wi such U nderw ri t ers as bei ng subj ect t o addi t i onalprem i um s because of W ar Ri sks, then such prem i um s and/or cal l s shal lbe rei m bursed by C hart erers t o O w ners at t he sam e ti m e as t he next paym ent of hi re i s due.

30. 4

30. 5

If O w ners becom e l i abl e under the t erm s of em pl oym ent to pay t he crew any bonus or addi t i onal w ages i n respect of sai l i ng i nt o an area w hi ch i s dangerous i nt he m anner def i ned by the sai d term s, then such bonus or addi t i onalw ages shal lbe rei m bursed t o O w ners by Chart erers at t he sam e ti m e as t he next paym ent of hi re i s due. The Vessel shal lhave l i bert y:30. 6. 1 t o com pl y wi t h al lorders, di rect i ons, recom m endat i ons or advi ce as to depart ure, arri val , routes, sai l i ng i n convoy, port s of cal l , stoppages, desti nat i ons, di scharge of cargo, del i very, or i n any ot her w ay w hatsoever, w hi ch are gi ven by t he G overnm ent of t he N at i on under w hose f l ag t he Vesselsai l s, or other G overnm ent t o w hose l aw s O w ners are subj ect , or any ot her G overnm ent , body or group w hat soever act i ng w i t ht he pow er t o com pelcom pl i ance w i t ht hei r orders or di rect i ons; 30. 6. 2 t o com pl y wi t ht he orders, di rect i ons or recom m endat i ons of any w ar ri sks underw ri t ers w ho have t he aut hori t yt o gi ve the sam e under t he t erm s of t he w ar ri sks i nsurance; 30. 6. 3 t o com pl y wi t ht he t erm s of any resol ut i on of t he Securi t y Counci l of t he U ni t ed N at i ons, any di rect i ves of the European Com m uni t y, t he ef f ecti ve orders of any other supranat i onalbody w hi ch has the ri ght t oi ssue and gi ve the sam e, and w i t h nat i onall aw s ai m ed at enf orci ng t he sam e t o w hi ch O w ners are subj ect, and t o obey t he orders and di recti ons of t hose w ho are charged w i t h thei r enf orcem ent ; 30. 6. 4 t o di vert and di scharge at any ot her port any cargo or part t hereof w hi ch m ay render t he Vessell i abl et o conf i scat i on as a cont raband carri er; 30. 6. 5 t o di vert and cal l at any ot her port t o change the crew or any part t hereof or ot her persons on board t he Vessel w hen there i s reason t o bel i eve t hat t hey m ay be subj ect t oi nt ernm ent ,i m pri sonm ent or ot her sancti ons.

30. 6

30. 7 31.

If i n accordance w i t ht hei r ri ght s under t he f oregoi ng provi si ons of t hi s Cl ause, O w ners ref use t o proceed t ot he l oadi ng or di schargi ng port s, or any one or m ore of t hem , t hey shal li m m edi at el yi nf orm C hart erers.

GENERAL AVERAGE G eneralAverage shal lbe adj ust ed and set t l ed i n London i n accordance w i t ht he York-Ant w erp Rul es, 1994 or any subsequent m odi f i cat i on t hereof .

32.

NEW JASON If , not wi thst andi ng Cl ause 31, G eneralAverage i s adj ust ed i n accordance w i t ht he l aw and pract i ce of t he U SA, t he f ol l ow i ng provi si on shal l appl y:"In t he event of acci dent , danger, dam age or di sast er bef ore or af t er t he com m encem ent of t he voyage, resul t i ng f rom any cause w hat soever, w hether due t o negl i gence or not, f or w hi ch, or f or the consequence of w hi ch, t he carri er i s not responsi bl e, by st at ut e, cont ract or ot herw i se, t he cargo, shi ppers, consi gnees 15

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or ow ners of the cargo shal lcont ri but e wi t ht he carri er i n generalaverage to the paym ent of any sacri f i ces, l osses or expenses of a generalaverage nature that m ay be m ade or i ncurred and shal lpay sal vage and speci alcharges i ncurred i n respect of t he cargo. If a sal vi ng shi pi s ow ned or operated by t he carri er, sal vage shal lbe pai df or as f ul l y as i ft he sai d sal vi ng shi p or shi ps bel onged t o strangers. Such deposi t as the carri er or hi s agent s m ay deem suf f i ci ent t o cover t he est i m at ed cont ri buti on of t he cargo and any sal vage and speci alcharges thereon shal l ,i f requi red, be m ade by t he cargo, shi ppers, consi gnees or ow ners of the cargo t ot he carri er bef ore del i very". 33. BOTH-TO-BLAME COLLISION If t he l i abi l i t yf or any col l i si on i n w hi ch t he Vesseli si nvol ved w hi l e perf orm i ng thi s Chart er f al l s to be det erm i ned i n accordance w i t h the l aw s of the U SA, or t he l aw s of any Stat e w hi ch appl i es l aw s si mi l ar to those appl i ed i nt he U SA i nt he ci rcum st ances envi saged by t hi s Cl ause 33, t he f ol l ow i ng provi si on shal l appl y:"If t he Vesselcom es i nt o col l i si on w i t h anot her vesselas a resul t of the negl i gence of t he ot her vesseland any act , negl ect or def aul t of the M ast er, m ari ner, pi l ot or t he servants of the carri er i nt he navi gat i on or i nt he m anagem ent of t he Vessel , t he ow ners of t he goods carri ed hereunder w i l li ndem ni f yt he carri er agai nst al ll oss or l i abi l i t y to the ot her or non-carryi ng vesselor i ts ow ners i n so f ar as such l oss or l i abi l i t y represent sl oss of , or dam age t o, or any cl ai m w hat soever of t he ow ners of sai d goods, pai d or payabl e by t he other or non-carryi ng vesselor i t s ow ners t ot he ow ners of sai d goods and set ng vessel or i t s ow ners as part of thei r cl ai m agai nst t he carryi ng of f , recouped or recovered by t he ot her or non-carryi vesselor carri er. The f oregoi ng provi si ons shal lal so appl y w here t he ow ner, operat ors or those i n charge of any vesselor vessel s or obj ect s ot her t han, or i n addi t i on t o, t he col l i di ng vessel s or obj ect s are at f aul ti n respect of col l i si on or cont act . " W hi l st Chart erers shal lprocure that al lbi l l s of l adi ng and w aybi l l si ssued under t hi s Chart er shal lcont ai n a provi si on i n the f oregoi ng t erm s, t o be appl i cabl e w here t he l i abi l i t yf or any col l i si on i n w hi ch t he Vesseli si nvol ved f al l st o be determ i ned under the pream bl e of t hi s Cl ause 33, Charterers nei t her w arrant nor undert ake t hat such provi si on shal lbe ef f ect i ve. In t he event that such provi si on proves i nef f ect i ve C hart erers shal l , not wi t hst andi ng anyt hi ng t ot he cont rary herei n provi ded, not be obl i ged to i ndem ni f y O w ners. 34. OIL POLLUTION PREVENTION 34. 1 O w ners undert ake that t he Vesseli sat anker ow ned by a m em ber of t he Int ernat i onalTanker O w ners'Pol l uti on Federati on Li mi ted and w i l lso rem ai nt hroughout t he peri od of t hi s C hart er. W hen an escape or di scharge of O i loccurs f rom the Vesseland causes or t hreat ens t o cause Pol l ut i on D am age, or w hen t here i st he t hreat of an escape or di scharge of O i l(i . e. a grave and i mmi nent danger of t he escape or di scharge of O i lw hi ch, i fi t occurred, w oul d creat e a seri ous danger of Pol l uti on D am age, w het her or not an escape or di scharge i nf act subsequent l y occurs), then upon not i ce t o O w ners or M ast er, C hart erers shal l have t he ri ght (but shal lnot be obl i ged) t o pl ace on board t he Vesseland/or have i n at tendance at t he i nci dent one or m ore Chart erers' representat i ves t o observe the m easures bei ng t aken by O w ners and/or nat i onalor l ocalaut hori t i es or t hei r respect i ve servant s, agent s or cont ract ors t o prevent or m i ni mi se Pol l ut i on D am age and t o provi de advi ce, equi pm ent or m anpow er or undert ake such other m easures, at Chart erers'ri sk and expense, as are perm i t t ed under appl i cabl e l aw and as Chart erers bel i eve are reasonabl y necessary to prevent or m i ni mi se such Pol l uti on D am age or t o rem ove the t hreat of an escape or di scharge of O i l . The provi si ons of t hi s Cl ause 34 shal l be w i thout prej udi ce t o any ot her ri ght s and/or dut i es of C hart erers or O w ners w het her ari si ng under t hi s Charter or under appl i cabl el aw or under any Int ernati onalConvent i on. In t hi s Cl ause t he t erm s "O i l " and "Pol l ut i on D am age" shal lhave t he sam e m eani ng as t hat def i ned i nt he C i vi l Li abi l i t y Convent i on 1969 or any Prot ocolt hereto. 16

34. 2

34. 3

34. 4

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35.

EXCEPTIONS 35. 1 The provi si ons of Art i cl e III (other than Rul e8t hereof , IV, IV bi s, VII and VIII of t he Schedul et ot he Carri age of G oods by Sea Act 1971 of t he U ni t ed Ki ngdom shal lappl y to thi s Chart er and shal lbe deem ed t o be i nserted i n ext enso herei n. Thi s Chart er shal lbe deem ed t o be a cont ract f or t he carri age of goods by sea t o w hi ch the sai d Art i cl es appl y, and no regard shal lbe had t o Arti cl e I of t he sai d Schedul e. H ow ever, not hi ng i nt hi s Cl ause shal l be deem ed t o m odi f y, l i mi t or excl ude the part i es'ri ghts and obl i gat i ons as set out i n Cl auses 1, 9, 10, 11, 18 and 19 hereof . W here a cl ai m f or i ndem ni t yi s brought under thi s Chart er, t he def endi ng part y shal lbe ent i t l ed t o rel y on al l def ences and l i mi t ati ons, w het her f ounded on cont ract , tort ,l egi sl at i on or convent i on, that t he cl ai m ant coul d have rel i ed on i nt he pri nci palact i on or i n rel at i on to t he pri nci palcl ai m. N ot wi thst andi ng the af oresai d: 35. 3. 1 W here a cl ai m f or i ndem ni ty rel at i ng t o a cl ai m pursued by a t hi rd part yi s brought under t hi s Chart er, such cl ai m shal lbe ext i ngui shed unl ess sui ti s com m enced w i t hi nt w el ve (12) m ont hs of t he pri nci palcl ai m bei ng set t l ed by t he part i es t heret o or det erm i ned by t he f i nal , unappeal abl ej udgm ent of a com pet ent court. 35. 3. 2 Al lot her cl ai m s shal lbe subj ect t ot he st at ut ory l i mi t at i on peri od.

35. 2

35. 3

36.

LAW The construct i on, val i di t y and perf orm ance of t hi s Chart er shal lbe governed by Engl i sh Law . The H i gh Court i n London shal l have excl usi ve j uri sdi ct i on over any di sput e w hi ch m ay ari se out of t hi s C hart er. N ot wi t hst andi ng t he af oresai d, t he part i es m ay j oi nt l y el ect t o have any such di sput e ref erred t o arbi t rat i on i n London pursuant t ot he Arbi t rat i on Act 1996 or any m odi f i cat i on or re-enact m ent t hereof f or t he ti m e bei ng i nf orce and under t he Term s of t he London M ari t i m e Arbi t rators'Associ at i on bef ore a tri bunalconsi st i ng of t hree arbi t rat ors. 17

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In Witness Whereof t he part i es have caused t hi s C hart er t o be execut ed as of the dat ef i rst above w ri tt en

f or and on behal f of

O W N ERS

f or and on behal f of BP SH IPPIN G CH ARTERERS Thi s C hart er Part yi s a com put er generat ed copy of t he BEEPEETIM E 3 Charter Part yf orm pri nted by aut hori ty of BP Shi ppi ng Ltd. usi ng sof t w are w hi ch i st he copyri ght of St rategi c Sof tw are Lt d. Any i nserti on or del et i on t ot he f orm m ust be cl earl y vi si bl e. In t he event of any m odi f i cat i on m ade t ot he prepri nt ed t ext of t hi s docum ent w hi ch i s not cl earl y vi si bl e, the t ext of t he ori gi nalBP approved docum ent shal lappl y. BP Shi ppi ng Lt d. and St rat egi c Sof t w are Lt d. assum e no responsi bi l i t yf or any l oss or dam age caused as a resul t of di screpanci es bet w een the ori gi nalapproved docum ent and t hi s docum ent . 18

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ADDITIONAL CLAUSES TO M.T. "SENATORE" TIME CHARTER PARTY DATED 1. O w ners w arrant t hat t he vessel ' s ai r draf ti n bal l ast condi t i on w i l lnot exceed 132 f eet . 2. Speed/Consum pti on: Al lconsum pti on expressed i nt onnes of IFO 380 per day, unl ess ot herw i se speci f i ed. C onsum pt i on up to Beauf ort 5 i ncl uded. Ballast Laden

14. 5 knot s on 37 m t 14. 0 knot s on 37. 0mt O ther consum pt i ons: Speed 13 knot s 24. 5mt 13. 5 knot s 27. 5mt 14 knot s 31. 5mt 14. 5 knot s 37. 0mt 15 knot s 41. 5mt M ai nt ai n C argo Tem perat ure upt o 135 F: 10 m t If o Increase Tem perat ure f rom 44 To 66 C (Ai r 0 D eg - Sea 5 D eg) i n 96 H ours 120 m t If o/Tot al Inerti ng al ltanks by IG S 20 m t M G O D M A per 36 H rs or 13. 3 m t M G O D M A per day Di esel generat or i dl e 3. 0 m t If o Boi l ers i dl e 4. 0 m t If o Di schargi ng i n 24 hours 32. 0 m t If o + 12. 0 M t of m go Loadi ng 10. 0 m t If o Bal l asti ng/D ebal l ast i ng 8. 0 m t If o X 12 H rs But t erw orth al lt anks about 36 hours 17. 0 m t If o. 1 46. 5mt 41. 0mt 37. 0mt 32. 5mt 28. 5mt Ballast Laden

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BP TIME 3 Additional Clauses Index of Clauses Mandatory Clauses 1. BP Vet t i ng and Audi t i ng C l ause 2. BP O perat i ng M anualCl ause 3. BP H SSE Report i ng Cl ause 4. BP O CIM F TM SA Cl ause 5. BP O i lM aj or Approval s Cl ause 6. BP D ry-docki ng Cl ause 7. BP O f f -hi re D urat i on Cl ause 8. BP Pum pi ng Cl ause 9. BP Crude O i l W ashi ng and St ri ppi ng Cl ause 10. BP C argo Ret ent i on Cl ause 11. BP Term i nalQ uest i onnai res Cl ause 12. BP ISPS Cl ause f or Ti m e C hart er Part i es 13. BP Rout i ng Code of Practi ce C l ause 14. BP VesselTracki ng Syst em Cl ause 15. BP U SCG Inspecti on and TVEL Cl ause 16. BP Tank Present ati on Cl ause 17. BP H eat i ng Cl ause 18. BP C l osed Loadi ng and Sam pl i ng Cl ause 19. BP C argo Cont rolRoom M anni ng Cl ause 20. BP Inert G as System Cl ause 21. BP C l ean Bal l ast Cl ause 22. BP Bunker FuelSul phur Cont ent Cl ause 23. BP Indem ni t y Cl ause 24. BP Ethi calPol i cy Cl ause 25. BP Faci l i t ati on Paym ent s Cl ause 26. BP Trade Cont rol s, Em bargoes and Boycot t s Cl ause 27. BP ISM Cl ause 28. BP Regul at ory and G ui del i ne Com pl i ance C l ause 29. BP H 2S and M ercapt ans Cl ause 30. BP O i lPol l ut i on Insurance Cert i f i cat i on and C O FR' S Cl ause 31. BP ITW F Cl ause 32. BP U ni que Identi f i er Cl ause and U S Bureau of Cust om s and Border Prot ect i on Cl ause 33. BP C asual t y and Em ergency Response N ot i f i cat i on Cl ause 34. BP O i lSpi l lResponse and Em ergency Cont act s Cl ause 35. BP C om m i ngl i ng Cl ause 36. BP C onf i dent i al i t y Cl ause 37. BP N ot i ces Cl ause 38. BP Rem easurem ent Cl ause 39. BP Bal l ast W at er M anagem ent Cl ause 40. BP N ew Bui l di ng Cl ause 2

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Charter Specific Clauses 41. BP 42. BP 43. BP 44. BP 45. BP 46. BP 47. BP 48. BP 49. BP 50. BP 51. BP 52. BP 53. BP 54. BP 55. BP 56. BP Ice St rengt hened VesselC l ause C ast el l on Cl ause G enoa Cl ause G rangem outh Cl ause H am bl e Cl ause Isl e of G rai n Cl ause JebelD hanna Cl ause Li bya Cl ause Ras Tanura Cl ause Rot t erdam Cl ause Si diKeri r Cl ause Sul l om Voe Cl ause Tri este Cl ause Turki sh St rai ts Cl ause M agel l an St rai t s Rout i ng C l ause Bal ti c Rout i ng Cl ause

Mandatory Clauses 1. BP Vetting and Auditing Clause (a) It i s a condi t i on precedent of thi s Chart er t hat , pri or to del i very, O w ners and t he Vesselsuccessf ul l y com pl et et he Chart erers' Vet t i ng and ApprovalProcess. The Vet t i ng and ApprovalProcess shal li ncl ude, but shal lnot be l i mi t ed to, com pl et i on (t ot he Chart erers'sat i sf act i on) of t he f ol l ow i ng: (i ) an i nspect i on of t he Vessel ; and (i i ) an audi t and assessm ent of the m anagem ent procedures of O w ners and t hei r M anagers; and (i i i ) a struct uralrevi ew of the Vessel . (b) Pri or to and i m m edi at el y af t er del i very, and t hen at any t i m e duri ng t he C hart er Peri od, Charterers shal lhave the ri ght t o i nspect t he Vesseland to audi t O w ners'and M anagers'm anagem ent procedures t o ensure that t he Vessel ,i t s cert i f i cat i on and operati ng st andards are m ai nt ai ned t o Chart erers'cont i nui ng sat i sf act i on and t hat O w ners are com pl yi ng f ul l y wi t ht he provi si ons of t hi s C hart er. (c) N ot wi t hst andi ng the provi si ons of paragraphs (a) and (b) above, not l ess than once every si x m ont hs, O w ners shal lrequest an i nspect i on of t he Vesselt o be conduct ed by t he C hart erers t o ensure t hat t he Vessel ,i t s cert i f i cat i on and operat i ng st andards are m ai nt ai ned t o Chart erers'cont i nui ng sat i sf act i on. The cost of such bi -annuali nspect i ons shal lbe f or O w ners'account. 3

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(d) Fol l ow i ng any i nspect i on or audi t carri ed out pursuant t ot hi s Cl ause, Chart erers shal li ssue t o O w ners an i nspect i on report i n w ri t i ng i ndi cat i ng any def ect and/or def i ci ency and/or non-com pl i ance. O w ners shal l recti f y any def ect and/or def i ci ency and or non-com pl i ance i dent i f i ed i n such i nspecti on report as soon as i s reasonabl y practi cal , but i n any event no l at er than 30 days af t er recei pt of Chart erers'i nspect i on report . Al lcost s of rect i f yi ng such def ects and/or def i ci enci es and/or non-com pl i ances shal l be f or O w ners'account, and t he Vesselshal lbe of f -hi re f or t he peri od of any t i met hereby l ost . (e) If the O w ners do not rect i f y any def ect s and/or def i ci enci es and/or non-com pl i ances i dent i f i ed i n any i nspect i on report i ssued by Charterers pursuant t o (d) above w i t hi n 30 days af ter such i nspect i on report has been i ssued t o O w ners, Charterers shal lhave on t o: t he opti (i ) put t he Vesselof f hi re f ort hw i t h, unt i lsuch t i m e as any such def ect and/or def i ci ency and/or non-com pl i ance has been rect i f i ed; and/or (i i ) cancelt hi s Charter, provi ded t hat t hi s opt i on shal lbe decl ared by Charterers w i t hi n 10 w orki ng days of t he expi ry of the 45 day peri od. (f ) C hart erers shal l be enti t l ed t o provi de copi es of any i nspect i on report i ssued pursuant t ot hi s Cl ause t ot hi rd part i es and/or enter the f i ndi ngs cont ai ned i n such i nspect i on report si nt o dat a bases accessi bl et ot hi rd part i es (i ncl udi ng but not l i mi t ed t ot he SIRE dat a base). (g) N ei ther the exerci se, t he non-exerci se, nor anyt hi ng done or not done, i nt he exerci se or non-exerci se of Charterers'ri ghts pursuant t ot hi s Cl ause, shal lreduce t he responsi bi l i ty of O w ners and/or t he M anagers and/or the M ast er to C hart erers and/or t hi rd part i es i n respect of the Vessel , her m ai nt enance and/or her operati on, nor i ncrease Chart erers'responsi bi l i t i es t o O w ners or t hi rd part i es f or sam e. 2. BP Operating Manual O w ners acknow l edge t hat t hey have been provi ded w i t h a copy of t he BP O perat i ng M anual (Thi rd Part y M anagers) and undertake t hat t hey and t he M anagers of t he Vesselshal lat al lt i m es com pl y wi t h the requi rem ent s and recom m endat i ons t herei n. 3. BP HSSE Reporting Clause (a) Chart erers pl ace pri mei m port ance on H SSE i ssues and requi re t hat i t s cont ract ors and t hei r sub-cont ract ors subscri be to and act i vel y pursue t he hi ghest st andards of H SSE perf orm ance. (b) Pri or to del i very of the Vesselt o Chart erers at the com m encem ent of t he Charter Peri od, O w ners and thei rt echni calm anagers (hereaf t er ref erred t o as "M anagers") shal lundert ake an H SSE audi t ,i n conj unct i on w i t h C hart erers and, on com pl et i on of such audi t, devel op an H SSE Act i on Pl an based upon t he audi tf i ndi ngs i n order t o prom ot e conti nuali m provem ent i n H SSE perf orm ance. 4

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(c) O w ners shal lsubm i t H SSE report st o Chart erers i n accordance w i t ht he provi si ons of t he BP O perat i ng M anual(Thi rd Part y M anagers) f or t he durat i on of t hi s Charter, i ncl udi ng any peri ods duri ng w hi ch t he Vesseli s of f -hi re f or dry-docki ng, repai r or any ot her reasons. In addi t i on t o report sf rom i ndi vi dual vessel s di rect l y on BP busi ness, M anagers w i l lf orw ard on a Q uarterl y basi s, saf et y dat af or t hei r ent i re f l eet of t anker vessel s. (d) Any f ai l ure by O w ners to com pl y wi th t he requi rem ent s set out i n (b) and (c) above w i l lent i tl e Chart erers t o put t he Vessel of f -hi re, unt i lt he requi rem ents of (b) and (c) have been m et. 4. BP OCIMF TMSA Clause O w ners w arrant t hat they have com pl eted a Tanker M anagem ent Sel f Assessm ent ("TM SA") report and have subm i t t ed the sam e t o O C IM F. O w ners shal lrevi ew and update t he TM SA annual l y. 5. BP Oil Major Approvals Clause (a) To t he best of O w ners know l edge t he Vesseli s accept abl ef or chart er and/or t erm i nalby t he oi lcom pani es l i st ed i n Appendi xA (Part 1 w hi ch shal l read "BP, ExxonM obi l , Shel l , Chevron and Total ") at tached hereto and shal lm ai nt ai nt he val i di t y of such approval st hroughout t he Chart er Peri od. O w ners shal lhave the Vesseli nspect ed and accept ed by t he f urt her oi lcom pani es l i st ed i n Appendi x A (Part 2 w hi ch shal lread "Stat oi l , Conoco and Val ero") and t hereaf t er shal lm ai nt ai nt he val i di t y of such accept ances t hroughout t he Chart er Peri od. (b) O w ners shal l advi se Chart erers i m m edi at el yi f any acceptance i s not grant ed and of any change i n st atus of any accept ances and advi se w hen f urt her i nspect i ons necessary t o obtai n or m ai nt ai n such accept ance becom e due. O w ners shal l noti f y Chart erers of t he out com e of al l such i nspect i ons as soon as com pl et ed and, i n the event of an accept ance not bei ng granted or bei ng wi thdraw n, shal li m m edi at el y take st eps t o recti f y al ldef i ci enci es i denti f i ed i nt he course of such i nspect i on. (c) In t he event t hat any approvali s not grant ed or re-i nst ated, or such def i ci enci es are not rect i f i ed w i t hi n 30 days of t he i nspect i on report bei ng recei ved by O w ners, w i t hout prej udi ce t o any ot her rem edi es avai l abl et ot hem under t hi s Chart er, Chart erers shal lhave t he ri ght w i t hi n 10 days t hereaf t er t o: (i ) put t he Vesselof f -hi re f ort hw i t h, unt i lsuch t i m e as such approvalhas been grant ed or re-i nst at ed and/or such def i ci enci es have been rect i f i ed; and/or (i i ) cancelt hi s Charter; and/or Al w ays provi ded Vessel ' st radi ng perm i t t i ng and subj ect t oi nspect ors'avai l abi l i t y to carry out such i nspecti ons. 6. BP Dry-docking Clause (a) O w ners w arrant that , ot her t han as expressl y advi sed t o Charterers i n w ri t i ng pri or t o ent eri ng i nt ot hi s Chart er, t he Vesseli s schedul ed t o dry-dock duri ng t he Chart er Peri od as f ol l ow s: D uri ng June 2009. 5

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(b) If t he m i ni m um Charter Peri od i s 6 m onths or m ore, and subj ect t o paragraph (a) above, O w ners shal lhave the ri ght and obl i gat i on to dry-dock t he Vesself or rout i ne m ai nt enance and surveys f rom ti met ot i mei n accordance w i t ht he Vessel ' s cl assi f i cati on soci ety rul es or i n case of em ergency. O n each occasi on that t hey w i sh to dry-dock t he Vessel , O w ners shal lgi ve Chart erers a m i ni m um of si x m ont hs'approxi m at e and 90 days'def i ni t e not i ce (except i n case of em ergency) of t he dat e and pl ace at w hi ch t hey i nt end t o dock t he Vessel . O w ners and Chart erers shal lco-operat et o ensure t hat dry-docki ng of t he Vesseli s agreed t ot ake pl ace at a ti m e and pl ace w hi ch causes m i ni m um di srupt i on t ot he Vessel ' st radi ng. Tank cl eani ng expenses f or t he purposes of dry-docki ng shal lbe f or O w ners account and di sposalof sl ops generated by Chart erers't radi ng of t he Vesselshal lal so be f or O w ners'account . ng outbound sea pi l ot at the l ast di scharge port pri or t o dry-docki ng and shal lrem ai n (d) The Vesselshal lbe of f hi re f rom droppi of f -hi re unt i lshe i si n a posi t i on no l ess f avourabl et o Chart erers t han that at t he com m encem ent of t he of f hi re. O w ners shal lgi ve Chart erers seven, t hree, t w o and one day(s) not i ce pri or t o redel i very f rom dry-docki ng, reconf i rm i ng or advi si ng of any adj ust m ent t o the dat e and t i m e previ ousl y gi ven. Any servi ce gi ven or di st ance m ade good, i ncl udi ng bunkers consum ed, by the vesselw hi l e the vesseli s of f -hi re shal lbe t aken i nto account (i . e. credi t ed t o ow ners) i n assessi ng t he am ount t o be deduct ed f rom hi re (to be consi st ent w i th t he w ordi ng i n cl ause 19. 3 of t he chart er part y). (e) U pon com pl et i on of t he dry-dock O w ners shal l , at thei r expense, redel i ver t he Vesselt o Chart erers w i t h her t anks f ul l y cl eaned, i nert ed and ready t ol oad, how ever C hart erers shal l ,i nsof ar as cl eani ng f or drydocki ng m ay have reduced t he am ount of t ank cl eani ng necessary t o m eet C hart erers'requi rem ent s, credi t O w ners w i t h the val ue of any bunkers w hi ch C hart erers cal cul at e t o have been saved t hereby. 7. BP Off-hire Duration Clause (a) If any peri od of of f -hi re (other than a peri od of f -hi re rel at i ng to a schedul ed dry-docki ng of t he Vesselagreed w i t h Chart erers) exceeds or i s expected t o exceed 45 days, t hen, w i t hout prej udi ce t o any ot her ri ght s C hart erers m ay have under t hi s C hart er, Chart erers shal lhave t he opt i on of t erm i nat i ng thi s Chart er by gi vi ng not i ce i n w ri t i ng t o O w ners. Term i nat i on shal lt ake ef f ect f rom t he dat e on w hi ch such not i ce i s recei ved by O w ners or f rom any l at er dat e stat ed i n such not i ce. (b) U pon term i nati on i n accordance w i t ht hi s Cl ause, O w ners shal lf orthw i th rem i tt o Chart erers any hi re pai di n advance and not earned as at the dat e of term i nat i on and any other m oni es ow i ng, i ncl udi ng but not l i mi t ed t ot he cost of bunkers on board at t he com m encem ent of t he of f -hi re peri od. 8. BP Pumping Clause (a) For the purposes of t hi s Cl ause: f ul lcargo'shal l m ean t he f ul lcargo capaci ty of t he Vessel as descri bed. part cargo'shal lm ean ei t her t he t ot alcargo act ual l yl oaded, i fl ess t han f ul lcargo capaci t y of t he Vesselas descri bed, or t he quant i t y of each parcell oaded or di scharged separat el y, as t he context m ay requi re. 6

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bul k di scharge'shal lm ean t he peri od of t i m e taken by t he Vesselt o di scharge t he f ul lcargo or part cargo, as t he case m aybe, excl udi ng any t i m e duri ng w hi ch onl yt ank st ri ppi ng and/or crude oi lw ashi ng operat i ons are bei ng perf orm ed (b) O w ners undert ake, al w ays provi ded t hat t he vesseli s di schargi ng at not m ore t han one bert h/t erm i nal ,t hat : (i )t he Vesselshal ll oad t he cargo at t he m axi m um saf e rate and i n any event shal ll oad a f ul l cargo w i thi n a m axi m um peri od of t w ent yf our (24) hours, or pro-rat ai nt he case of a part cargo, provi ded al w ays that t he cargo i s capabl e of bei ng suppl i ed w i t hi n such ti m e; and t he Vesselshal ldi scharge at the m axi m um saf e rat e and i n any event shal l ,i nt he case of cargoes of one or m ore segregat ed grades/parcel s di scharged concurrent l y or consecut i vel y, di scharge a f ul lcargo w i t hi nt w ent y-f our (24) hours, or pro rat ai nt he nt ai nami ni m um di scharge pressure of seven (7) bar at t he Vessel ' s m ani f ol dt hroughout t he case of a part cargo, or shal lm ai bul k di scharge, provi ded al w ays t hat t he cargo i s capabl e of bei ng recei ved w i thi n such ti m e or at such pressure. If rest ri ct i ons are i m posed by any t erm i nalduri ng di scharge, or i f physi calat t ri but es of such t erm i nal rest ri ct t he di scharge rat e or pressure, O w ners shal lonl y be rel i eved of t he af oresai d obl i gati on f or t he peri od and t ot he ext ent such rest ri ct i ons or at t ri but es i m pede the di scharge rate or pressure. The di scharge t erm i nalshal l have t he ri ght t o gauge di scharge pressure at t he Vessel ' s m ani f ol d. (c) Any addi t i onalt i m e used as a resul t of t he i nabi l i t y of the Vesselt ol oad or di scharge t he f ul lcargo w i t hi n tw enty-f our (24) hours, or pro rat ai nt he case of part cargo, or to m ai nt ai nami ni m um di scharge pressure of seven (7) bar at t he Vessel ' s m ani f ol dt hroughout the di scharge, or f ai l ure by t he Vesselt o m eet any l esser perf orm ance requi red pursuant to a restri ct i on i m posed by t he t erm i nal , shal l be f or O w ners'account , and Chart erers shal lbe abl et o deduct the addi t i onalt i m e used at t he hi re rate f rom hi re. (d) In t he case of m ul t i pl e grades of cargoes w here t he t ot alti met aken t o di scharge t he f ul lcargo i si n excess of tw enty-f our (24) hours (or pro-rat ai n the case of a part cargo) and t he Vesself ai l st o m ai nt ai nami ni m um di scharge pressure of seven (7) bar t hroughout t he di scharge, each grade carri ed w i l lbe assessed separat el y as f ol l ow s:(i ) The t w ent y-f our (24) hours'al l ow ance (pro rat ed i nt he case of a part cargo) pl us the appropri ate crude oi lw ashi ng al l ow ance, i f any, cal cul at ed i n accordance w i t ht he Crude O i l W ashi ng and St ri ppi ng Cl ause, shal lbe apporti oned t o each grade, w hi ch i s di scharged consecut i vel y, i nt he rat i ot hat the quant i t y of t hat grade di scharged bears t ot he t ot alquant i t y of al lgrades of cargo di scharged consecut i vel y. Thi s rat i o shal lbe cal cul ated by di vi di ng t he quant i t y of each grade t hat i s di scharged consecut i vel y by t he aggregat ed bi l lof l adi ng quanti t i es f or al lgrades di scharged consecut i vel y. For t he purposes of t hi s apport i onm ent , w here t wo (2) or m ore grades are di scharge concurrent l y, t he quanti t i es so di scharged shal l be aggregat ed and t reat ed as one grade. 7

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(i i ) The al l ow ance apport i oned to each grade pursuant t o paragraph (i i ) shal lthen be of f set agai nst t he t ot alt i m e act ual l yt aken t o di scharge t hat grade. Any excess t i m e wi l lbe f or O w ners'account . H ow ever, i f the Vessel m ai nt ai ns a m i ni m um di scharge pressure of seven (7) bar throughout t he bul k di scharge of a part i cul ar grade t hen the t i m e taken t o di scharge t he grade w i l lbe f or Chart erers'account. (e) If the f ul l cargo cannot be del i vered t ot he Vesselat t he rat e requested by t he M ast er or w i thi nt he t i m e al l ow ed i n paragraph (b) above or i f any t erm i nali s unabl et o recei ve t he f ul lcargo w i t hi n tw ent y-f our (24) hours or at a di scharge pressure of seven (7) bar m easured at t he Vessel ' s m ani f ol d, the M ast er shal lpresent a N ot e of Prot est ( N O P' ) to a term i nalrepresentat i ve det ai l i ng lreasonabl e any t erm i nalrest ri ct i ons and/or def i ci enci es as soon as t hey are i m posed and/or becom e apparent and shal luse al endeavours t o have t he N O P si gned by t he term i nal representat i ve. If t he M ast er i s unabl et o obtai n a si gnature f rom t he t erm i nal represent at i ve he shal lpresent a f urt her N O P recordi ng t he f ai l ure of t he t erm i nalrepresent at i ve t o si gn t he ori gi nal N O P. In t he case of rest ri ct i ons i m posed by t he t erm i nalor ari si ng f rom physi calatt ri butes of any t erm i nal , the M ast er shal lensure t hat such rest ri ct i ons are cl earl y recorded i nt he Vessel ' s Pum pi ng Log. (f ) Shoul dt he Vesself ai lt o m eet t he agreed pum pi ng perf orm ance i n 50 percent of her cargo operat i ons over a t w o m onths peri od, t hen Charterers shal lhave the ri ght t o cancelt hi s Chart er. 9. BP Crude Oil Washing and Stripping Clause (a) O w ners w arrant that t he Vesseli s equi pped w i t haf ul l yf unct i onalC rude O i lW ashi ng system and that t he of f i cers and crew are properl y qual i f i ed (as evi denced by appropri at e cert i f i cat i on) and experi enced i nt he operat i on of such syst em . W hi l st Chart erers m ay i nst ruct O w ners to carry out addi t i onalcrude oi lw ashi ng i n al lt anks t hat cont ai ned the cargo the M aster shal l ,i n any event , arrange f or crude oi lw ashi ng of t he cargo tanks at t he di scharge port t ot he M ARPO L m i ni m um st andard, as set out i nt he Vessel ' s Crude O i l W ashi ng O perat i on and Equi pm ent M anual . (b) O w ners shal l carry out crude oi lw ashi ng concurrent l y wi t ht he di scharge of t he cargo and t he M ast er shal lprovi de a crude oi l w ashi ng l og i dent i f yi ng each tank w ashed, and st ati ng w het her such t ank has been w ashed t ot he M ARPO L m i ni m um st andard or has been t he subj ect of addi t i onalcrude oi lw ashi ng. (c) O w ners shal l , provi ded al w ays that t he Vesselm ai nt ai ns a m i ni m um di scharge pressure of seven (7) bar duri ng bul k di scharge or m eets such l esser perf orm ance requi red pursuant t o a rest ri ct i on i m posed by any Term i nalor ari si ng f rom physi calat t ri but es of t he t erm i nal , be al l ow ed a peri od of not m ore t han t w o (2) hours per segregat ed grade/parcelf or f i nal drai ni ng and stri ppi ng purposes unl ess such f i nal drai ni ng and stri ppi ng i s carri ed out concurrentl y wi t h the di scharge of anot her grade parcel . Any ti me t aken f or f i naldrai ni ng and st ri ppi ng purposes i n excess of such al l ow ance shal lbe f or O w ners'account . 8

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10. BP Cargo Retention Clause If , duri ng any voyage under t hi s Chart er, any quant i t y of cargo rem ai ni ng on board the Vessel ( RO B) upon com pl eti on of di scharge i sj udged by an i ndependent surveyor appoi nt ed by Chart erers to be l i qui d and pum pabl e, or i f Chart erers can show t hat t he RO B w oul d have been l i qui d and pum pabl ei f O w ners and/or M aster, of f i cers and crew had f ol l ow ed C hart erers'i nst ruct i ons f or t he m anagem ent of t he cargo, t hen Charterers shal lbe ent i t l ed t ot he val ue of such RO B pl us voyage f rei ght due rel at i ng to such quant i t y of cargo rem ai ni ng on board. 11. BP Terminal Questionnaires Clause O w ners are t o provi de com pl et ed quest i onnai res i nat i m el y m anner, i n the f orm at requi red by Chart erers, f or any l oadi ng or di schargi ng t erm i nal s as and w hen requi red by C hart erers t hroughout the Chart er Peri od. 12. BP ISPS Clause for Time Charter Parties (replaced with BIMCO clause) (a) (i ) The O w ners shal lcom pl y wi t ht he requi rem ent s of t he Int ernat i onalCode f or t he Securi ty of Shi ps and of Port Faci l i t i es and t he rel evant am endm ents t o Chapt er XI of SO LAS (ISPS Code) rel ati ng t ot he Vesseland "the Com pany" (as def i ned by the ISPS Code). If t radi ng t o or f rom t he U ni t ed St at es or passi ng t hrough U ni t ed St ates w aters, t he O w ners shal lal so com pl y wi t h the requi rem ent s of t he U S M ari t i m e Transport ati on Securi ty Act 2002 (M TSA) rel at i ng t ot he Vesseland the "O w ner" (as def i ned by t he M TSA). (i i ) U pon request t he O w ners shal l provi de t he Charterers w i t h a copy of the rel evant Internat i onalShi p Securi ty Cert i f i cate (or t he Int eri m Int ernat i onalShi p Securi t y Cert i f i cat e) and t he f ul lst yl e cont act det ai l s of t he Com pany Securi ty O f f i cer (CSO ). (i i i ) Loss, dam ages, expense or del ay (excl udi ng consequent i all oss, dam ages, expense or del ay) caused by f ai l ure on t he part of t he O w ners or "t he C om pany"/"O w ner" t o com pl y wi t h the requi rem ent s of t he ISPS Code/M TSA or thi s Cl ause shal lbe f or t he O w ners'account , except as ot herw i se provi ded i nt hi s Chart er Part y. (b) (i ) The C hart erers shal lprovi de t he O w ners and the M ast er w i t ht hei rf ul lst yl e cont act det ai l s and, upon request , any ot her i nf orm at i on the O w ners requi re t o com pl y wi t h the ISPS Code/M TSA. W here sub-l et t i ng i s perm i t t ed under the t erm s of thi s Chart er Party, t he Charterers shal lensure that t he cont act detai l s of al l sub-chart erers are l i kew i se provi ded t ot he O w ners and t he M ast er. Furt herm ore, t he Chart erers shal lensure t hat al lsub-chart er parti es they enter i nt o duri ng t he peri od of t hi s Charter Part y cont ai nt he f ol l ow i ng provi si on: "The Charterers shal lprovi de the O w ners w i t h thei rf ul lstyl e cont act det ai l s and, w here sub-l ett i ng i s perm i t t ed under t he t erm s of t he charter part y, shal lensure that t he cont act det ai l s of al l sub-chart erers are l i kew i se provi ded t ot he O w ners". (i i ) Loss, dam ages, expense or del ay (excl udi ng consequent i al l oss, dam ages, expense or del ay) caused by f ai l ure on t he part of t he C hart erers t o com pl y wi t ht hi s Cl ause shal l be f or t he Charterers'account , except as otherw i se provi ded i nt hi s Charter Part y. 9

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(c) N ot wi t hst andi ng anyt hi ng el se cont ai ned i n thi s Chart er Part y al ldel ay, cost s or expenses w hatsoever ari si ng out of or rel ated t o securi ty regul ati ons or m easures requi red by the port f aci l i t y or any rel evant authori t yi n accordance w i t ht he ISPS Code/M TSA i ncl udi ng, but not l i mi t ed to, securi t y guards, l aunch servi ces, vesselescort s, securi t yf ees or t axes and i nspect i ons, shal lbe f or t he Charterers'account , unl ess such cost s or expenses resul t sol el yf rom t he negl i gence of t he O w ners, M ast er or crew . Al l m easures requi red by t he O w ners to com pl y wi th t he Shi p Securi t y Pl an shal lbe f or the O w ners'account . (d) If ei ther part y m akes any paym ent w hi ch i sf or t he ot her part y' s account accordi ng t ot hi s Cl ause, t he other part y shal l i ndem ni f y the payi ng party. 13. BP Routing Code of Practice Clause O w ners shal li nst ruct t he M ast er t o observe regul at i ons and recom m endat i ons as t ot raf f i c separati on and rout i ng as i ssued, f rom bl e organi sat i ons or regul at i ng aut hori t i es i ncl udi ng, but not l i mi t ed t o, t he IM O , t he U K Cham ber of t i m e to ti m e, by responsi Shi ppi ng (or equi val ent ), or as prom ul gated by t he stat e of t he f l ag of the Vesselor t he st at ef rom w hi ch m anagem ent of t he Vessel i s exerci sed. 14. BP Vessel Tracking System Clause (a) Chart erers m ay, f rom t he dat e of ent eri ng i nto thi s Chart er and t hroughout t he durat i on of the Chart er Peri od, em pl oy an Inm arsat C t racki ng syst em on t he Vessel . Al lregi st rati on and com m uni cati on cost s rel at i ng t o thi st racki ng syst em shal lbe f or Chart erers'account. Chart erers shal ladvi se O w ners w hen t he syst em i s operat i ve and shal l conf i rm t erm i nati on upon redel i very. (b) O w ners shal l suppl yt he f ol l ow i ng i nf orm at i on to C hart erers: Inm arsat C num ber (9 di gi t s begi nni ng w i th 4); M anuf act urer, m ake, etc; M odel N um ber and Seri alN um ber; and Term i nalS/W versi on i f know n: 15. BP USCG Inspection and TVEL Clause If the Tradi ng Li mi t s under t hi s Chart er i ncl ude t he U ni t ed St at es of Am eri ca, or any U SA cont rol l ed t erri t ori es, t hen any t i mel ost at any port i nt he U SA, or U SA control l ed t erri t ori es, w ai ti ng f or a U SCG i nspect i on and/or t he i ssue of a Tank VesselExam i nat i on Let t er ("TVEL") shal lbe f or O w ners account and t he Vessel shal lbe of f -hi re f or any t i mel ost provi ded t hat t he vessel cal l st he U SA duri ng the previ ous 12 m ont hs. 16. BP Tank Presentation Clause Vessel t o be del i vered w i t h ei t her di rt y or cl ean background at O w ners'opt i on and w i th al ltanks f ul l yi nerted. 17. BP Heating Clause (a) O w ners w arrant that t he Vesseli s capabl e of recei vi ng cargo at a m axi m um t em perat ure of 75 degrees Centi grade. 10

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(b) C hart erers shal l have t he ri ght to i nst ruct O w ners to m ai ntai nt he l oaded t em perat ure of the cargo up t o a m axi m um t em perat ure of 135 degrees F. If t he Vesself ai l st o m ai nt ai n the requi red t em perature, O w ners shal lbe responsi bl ef or any resul t i ng l oss, dam age, cost s or expense i ncurred by C hart erers (i ncl udi ng, w i t hout l i mi t at i on, any cost s or expenses ari si ng as a resul t of t he Vesselbei ng requi red to vacat et he berth). (c) Charterers shal lhave the ri ght t oi nst ruct O w ners t o rai se t he tem perat ure of t he cargo above t he l oaded t em perature up to a m axi m um t em perat ure of 135 degrees F, provi ded t hat t he voyage i s of suf f i ci ent durat i on t o perm i tt he sam e. 18. BP Closed Loading and Sampling Clause O w ners w arrant t hat the Vessel com pl i es w i t h, and shal lbe operat ed f or t he durat i on of t hi s Chart er i n accordance w i th t he recom m endat i ons regardi ng cl osed l oadi ng and cl osed di scharge set out i nt he 1996 edi t i on of ISG O TT as am ended f rom t i m e to t i m e. If the Vessel has cl osed sam pl i ng equi pm ent , such equi pm ent shal lbe used, w hen appropri at e, duri ng thi s Chart er. 19. BP Cargo Control Room Manning Clause W hi l st the Vesseli s carryi ng out cargo operat i ons at any l oadi ng or di schargi ng port or pl ace, t he Vessel ' s cargo cont rolroom shal l at al lt i m es be m anned by a l east one of f i cer havi ng a good w orki ng know l edge of t he Engl i sh l anguage. 20. BP Inert Gas System Clause (a) O w ners w arrant that ,i nsof ar as requi red under the provi si ons of SO LAS, t he Vesseli s equi pped w i t haf ul l yf unct i onalInert G as System ("IG S") w hi ch i si nf ul l w orki ng order and com pl i es f ul l y wi t h Regul at i on 62, chapt er II-2 of t he SO LAS Convent i on 1974 (as m odi f i ed by i t s Protocol of 1978 and any subsequent am endm ents) and that t hey shal lso m ai nt ai nt he IG S f or the durati on of thi s Chart er. (b) O w ners f urt her w arrant that t he M ast er, of f i cers and crew are properl y qual i f i ed (as evi denced by appropri at e cert i f i cat i on) and experi enced i n the operat i on of IG S and that t he IG S shal lbe operat ed i n accordance w i t h the operat i onalprocedures as set out i n t he IM O publ i cati on enti t l ed Inert G as Syst em '(IM O 860E) as am ended f rom t i met ot i m e. (c) W here equi pped w i th an IG S, t he Vesselshal larri ve at al ll oadi ng port swi th her tanks f ul l yi nerted. In t he event of any del ay t ot he Vesseldue t o def i ci ent or i m proper operat i on of t he IG S, t he Vesselshal lbe of f -hi re f or t he peri od of any t i mel ost. (d) If Chart erers so requi re, O w ners shal l arrange f or t he Vessel ' st anks t o be depressuri sed to f aci l i tat e gaugi ng and sam pl i ng or t o be de-i nerted or gas f reed t of aci l i t at ei nspecti on. Any t i met aken t o de-pressuri se, gauge, sam pl e and re-pressuri se, or t o dei nert or gas f ree, i nspect and re-i nert t hereaf t er shal lbe f or Chart erers'account. 11

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21. BP Clean Ballast Clause (a) The Vessel shal lbe del i vered to the Chart erer w i t h cl ean bal l ast as def i ned i n Regul at i on 1 (16) of t he Regul at i ons f or the Prevent i on of Pol l uti on by O i li n Annex 1 of M ARPO L, unl ess ot herw i se agreed. (b) D uri ng al lt ank cl eani ng, O w ners shal lensure that al l oi l y resi dues of a persi st ent nat ure are ret ai ned on board. Sl ops shal lbe separat ed i nt o a si ngl e cargo t ank and af t er m axi m um separat i on of f ree w at er, di scharge t he w at er separated overboard. In di schargi ng al lw at er separat ed as af oresai d, the M ast er shal lcom pl y wi t ht he requi rem ent s of t he Int ernati onalConvent i on f or t he Prevent i on of Pol l uti on f rom Shi ps 1973, as am ended by i t Protocolof 1978 (M ARPO L 73/78), i nsof ar as t hese do not conf l i ct w i t h any appl i cabl el aw s t o w hi ch the Vesseli s subj ect . 22. BP Bunker Fuel Sulphur Content Clause s Charter, O w ners shal ldel i ver t he Vesselt o Chart erers w i t h, and t he (a) W i thout prej udi ce t o anyt hi ng el se cont ai ned i nt hi Chart erers shal lt hereaf t er suppl yt ot he Vessel ,f uel s of such speci f i cat i ons and grades t o perm i tt he Vessel , at al lt i m es, t o com pl y wi t ht he m axi m um sul phur cont ent requi rem ents of any em i ssi on cont rolzone w hen t he Vessel i s ordered t ot rade w i t hi n t hat zone. The C hart erers al so w arrant that any bunker suppl i ers, bunker craf t operators and bunker surveyors used by t he C hart erers t o suppl y such f uel s shal lcom pl y wi t h Regul at i ons 14 and 18 of M ARPO L Annex VI, i ncl udi ng t he G ui del i nes i n respect of sam pl i ng and t he provi si on of bunker del i very not es. The O w ners shal li ndem ni f y, def end and hol d harm l ess t he Charterers, and t he Chart erers shal li ndem ni f y, def end and hol d harm l ess t he O w ners, i n respect of any l oss, l i abi l i t y, del ay, f i nes, cost s or expenses ari si ng or resul t i ng f rom any f ai l ure by ei t her t o com pl y wi t ht hei r respect i ve obl i gat i ons under t hi s sub-cl ause (a). (b) Provi ded al w ays t hat the Chart erers have f ul f i l l ed thei r obl i gat i ons i n respect of t he suppl y of f uel si n accordance w i t h subcl ause (a), t he O w ners w arrant t hat : (i )t he Vesselshal lcom pl y wi t h Regul at i ons 14 and 18 of M ARPO L Annex VI and w i t ht he requi rem ent s of any em i ssi on cont rol zone; and (i i )t he Vesselshal lbe abl et o consum e f uel s of the requi red sul phur cont ent w hen ordered by t he Charterers t ot rade w i thi n any such zone. Subj ect t o havi ng suppl i ed t he Vesselw i t hf uel si n accordance w i th sub-cl ause (a), t he C hart erers shal l not otherw i se be l i abl ef or any l oss, del ay, f i nes, costs or expenses ari si ng or resul ti ng f rom the Vessel ' sf ai l ure t o com pl y wi t h Regul at i ons 14 and 18 of M ARPO L Annex VI. (c) For the purpose of t hi s Cl ause, "em i ssi on controlzone" shal lm ean zones as sti pul at ed i n M ARPO L Annex VI and/or zones regul at ed by regi onaland/or nati onalaut hori t i es such as, but not l i mi ted t o, the EU and the U S Envi ronm ent alProt ecti on Agency. 12

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23. BP Indemnity Clause revised 6th November 2006 If an ori gi nal Bi l lof Ladi ng i s not avai l abl e at any di scharge port t o w hi ch the Vessel m ay be ordered by Chart erers under thi s Chart er, or i f C hart erers requi re O w ners t o del i ver cargo t o a part y or at a port ot her t han as set out i nt he Bi l lof Ladi ng, t hen O w ners shal lneverthel ess di scharge such cargo i n com pl i ance w i t h Chart erers i nst ruct i ons, upon present at i on by the consi gnee nom i nat ed by Chart erers (the Recei ver) of reasonabl ei dent i f i cat i on to the M ast er and i n consi derat i on of Chart erers i ndem ni f yi ng O w ners i nt he m anner prescri bed i nt he f orm of l ett er of i ndem ni t y agreed and publ i shed f rom t i m e to ti m e by the Int ernat i onal G roup of P& I C l ubs addressi ng t he rel evant ci rcum st ances. Such i ndem ni ty shal lbe deem ed t o have been gi ven w hen Chart erers i ssue i nstruct i ons t o O w ners pursuant t ot hi s Cl ause. 24. BP Ethical Policy Clause erers'et hi cs and busi ness pol i ci es, as O w ners w arrant t hat they, the M anagers, M aster and crew of t he Vesselare aw are of Chart set out i nt he BP Code of Conduct , ent i t l ed "O ur com m i t m ent t oi ntegri ty" (a copy of w hi ch i s avai l abl e on w w w . bp. com ), and thei r appl i cat i on t ot hi rd part y cont ract ors. O w ners undert ake to ensure t hat i nt he perf orm ance of t hei r obl i gati ons under t hi s Chart er, t hey, t he M anagers, M ast er and crew shal l at al lt i m es act consi st ent l y wi t h and adhere t ot he pri nci pl es i n the BP Code of Conduct . 25. BP Facilitation Payments Clause (a) The part i es hereby agree t hat i nt he course of perf orm i ng t hei r respect i ve obl i gat i ons hereunder, t hey shal l not m ake, nor shal l t hey requi re t he ot her part yt o m ake, any f aci l i t at i on paym ent . (b) For t he purposes of t hi s cl ause, a Faci l i t ati on Paym ent m eans a paym ent, gi f t or grat ui t y, w het her i n cash or i n ki nd, to any governm entalor quasi -governm ent alof f i cer or ot her of f i ci al i n any count ry f or t he purpose of procuri ng t he provi si on of any servi ce or l evelof servi ce w hi ch such of f i cer or of f i ci ali s requi red t o provi de i n the norm alcourse of t hei r em pl oym ent or dut y wi thout such Faci l i t ati on Paym ent bei ng m ade. (c) Any such Faci l i t ati on Paym ent , or ot her depart ure f rom t he requi rem ent s of t hi s Cl ause, necessari l y m ade to perm i t ef f i ci ent or cont i nued t radi ng of t he Vessel shal lbe reported t o Charterers i n a m ut ual l y agreed f orm at . 26. BP Trade Controls, Embargoes and Boycotts Clause N ot wi t hstandi ng anyt hi ng to the cont rary cont ai ned herei n, not hi ng i nt hi s C hart er i si nt ended, and not hi ng herei n shal lbe so i nterpret ed or const rued, t oi nduce or requi re ei t her party heret ot o act i n any m anner (i ncl udi ng any f ai l ure t ot ake any act i on i n rel at i on to a transacti on) w hi ch i si nconsi st ent w i t h, penal i sed by or prohi bi ted under any U K or U SA l aw s, regul at i ons, or ot her of f i ci al U K or U SA governm ent requi rem ents appl i cabl et o such part y, rel at i ng to f orei gn t rade cont rol s, export cont rol s, em bargoes or i nt ernat i onal boycot ts of any type. 13

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27. BP ISM Clause (a) O w ners undert ake that f or t he durat i on of t hi s Charter, t he Vesseland "t he Com pany" (as def i ned i nt he Internat i onal M anagem ent Code f or t he Saf e O perat i on of Shi ps and f or Pol l uti on Prevent i on (the Int ernat i onal Saf ety M anagem ent (ISM ) C ode) (t he "ISM Code")) shal lcom pl y wi t ht he requi rem ent s of t he ISM Code. Chart erers m ay at any t i m e request an i nspecti on of the rel evant D ocum ent of Com pl i ance and/or Saf et y M anagem ent C erti f i cat e, and upon recei pt of such a request O w ners shal l f ort hw i t h provi de t he sam e. (b) W i t hout prej udi ce t o any ri ghts or rem edi es avai l abl e to Chart erers under the t erm s of thi s Chart er or under the l aw appl i cabl e heret o, i nt he event of a breach of t he above undert aki ng Chart erers shal lbe ent i tl ed t o put t he Vessel of f hi re unt i lsuch t i m e as t he Vesseli s agai n com pl i ant w i t ht he requi rem ents of the ISM C ode and any l oss, dam age, expense or del ay f ol l ow i ng t heref rom shal lbe f or O w ners'account. 28. BP Regulatory and Guideline Compliance Clause Throughout the peri od of t hi s Chart er, t he O w ners and t he Vesselshal lcom pl y wi t h al lrel evant regul at i ons and gui del i nes i ssued by t he IM O and O CIM F and, i nt he case of a Vesselcarryi ng LPG or LN G , w i t h the recom m endat i ons and gui del i nes i ssued f rom t i m e to ti m e by SIG TTO . In addi t i on, al loperat i ons shal lbe carri ed out i n accordance w i th t he l at est edi t i on of ISG O TT 1996, and any am endm ent s theret oi ssued f rom t i m e to ti m e. 29. BP H2S and Mercaptans Clause (a) O w ners undert ake that pri or t o arri valat t he l oad port t he H ydrogen Sul phi de (H 2S) cont ent i nt he Vessel ' st ank atm osphere shal lhave been reduced, at Charterers t i m e and expenses t o bel ow the l ow er of : (i ) The perm i ssi bl e exposure l i mi t ("PEL") as descri bed i n ISG O TT as am ended f rom t i met ot i m e. (i i ) Any PEL appl i cabl e by vi rt ue of l ocal or nat i onal l aw , rul e or regul at i on. N O TE t hi swi l lnot appl yf or t he 1 st l oadport under t hi s charterpart y. (b) W here t he Vesselcal l s at a port w i t hi nt he U ni ted Ki ngdom of G reat Bri t ai n and N ort hern Irel and O w ners f urt her undert ake, t hat upon arri val at port t he com ponents of the vapour i n the t ank atm osphere w i l lbe w i t hi nt he O ccupat i onal Exposure St andards st ated i n H SE D ocum ent at i on EH 40 set dow n i nt he Cont rolof Subst ances H azardous to H eal t h Regul at i ons, as am ended f rom t i m e to ti m e. Current l yt hese regul ati ons cont ai n, i nt er al i a, the f ol l ow i ng l i mi t s: H ydrogen Sul phi de (H 2S) Long-t erm exposure l i mi t (8-hour TW A ref erence peri od) 5 ppm Short -t erm exposure l i mi t (15-m i nut e ref erence peri od) 10 ppm M ercapt oacet i c Aci d (C 2H 40 2S) Long-t erm exposure l i mi t (8-hour TW A ref erence peri od) 1ppm 14

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(c) O w ners f urther undert ake t hat the previ ous cargo pri or t o del i very t o Chart erers had a M ercaptan l evelnot great er t han 400 ppm by w ei ght and t hat pri or t o arri valat t he l oad port the M ercapt ans cont ent i nt he tank at m osphere shal lhave been reduced t o bel ow 0. 5 ppm by vol um e. (d) W here t he cargo l oaded on board t he Vesselhas the pot enti alt o cont ai nl evel s of H 2S i nt he vapour space, t hen t he Vessel ' s cargo t ank vapour spaces m ust be t est ed f or H 2S 24 t o 48 hours bef ore arri valat the di scharge port . Chart erers and t he di scharge t erm i nalshal lbe i nf orm ed of t he resul t i ng H 2S l evel s, m easured i n part s per m i l l i on (ppm ) 24 hours pri or t o arri valat the di scharge port . The m et hod of H 2S test i ng m ust al so be advi sed and i f the l aden passage i sl ess than 24 hours t hen t est i ng i s to t ake pl ace as soon as possi bl e and t he resul t si m m edi at el y advi sed to C hart erers and t he di scharge t erm i nal . 30. BP Oil Pollution Insurance Certification and COFR'S Clause n respect to oi l pol l ut i on necessary f or t he The Vesselshal lhave on board al l cert i f i cates of Fi nanci alResponsi bi l i t y ("C O FRs") i requi red trade w i t hi n the agreed t radi ng l i mi t s, i ncl udi ng but not l i mi t ed t o: (a) t he cert i f i cat e of i nsurance requi red under t he Internat i onalConvent i on on Ci vi lLi abi l i t yf or O i l Pol l ut i on dam age and t he prot ocol st heret o; and (b) U ni t ed St ates Coast G uard Cert i f i cate of Fi nanci alResponsi bi l i t y m eeti ng t he requi rem ent s of t he U ni t ed St at es Federal O i l Pol l ut i on Act 1990 ("O PA 90"). 31. BP ITWF Clause O w ners undert ake t o ensure t hat t he t erm s of em pl oym ent of the Vessel ' s M ast er, of f i cers and crew shal lal w ays rem ai n accept abl e to the Int ernat i onalTransport W orker' s Federat i on ("ITW F")and t he Vesselw i l lat al lt i m es carry an ITW F Bl ue C ard or equi val ent certi f i cati on acceptabl et o ITW F. 32. BP Unique Identifier Clause and US Bureau of Customs and Border Protection Clause (a) If t he Vessell oads or carri es cargo dest i ned f or the U S or passi ng through U S port si nt ransi t ,t he O w ners shal lcom pl y wi t h t he current U S Custom s regul at i ons (19 CFR 4. 7 and 178) or any subsequent am endm ent st heret o and shal l(unl ess Chart erers request ot herw i se) undert ake the rol e of carri er f or the purposes of such regul at i ons and shal l : (i ) have i n pl ace a SCAC (St andard Carri er Al pha Code) and i nsert t he sam e on each bi l lof l adi ng; (i i ) have i n pl ace an ICB (Int ernat i onalC arri er Bond); (i i i ) subm i t cargo decl arat i ons by AM S (Aut om at ed M ani f est Syst em ) t ot he U S C ust om s; and (i v) provi de Chart erers and Agents on request w i th det ai l s of t he U ni que Identi f i er i n respect of al lcargo carri ed (b) The Charterers shal lprovi de al lnecessary i nf orm at i on t ot he O w ners and/or t hei r agent st o enabl et he O w ners t o subm i ta t i m el y and accurate cargo decl arat i on. 15

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(c) O w ners w arrant that t hey are aw are of t he U S Bureau of Custom s and Border Prot ect i on regul at i ons f or ent eri ng U S port s (t he "C BP Regul at i ons"), i ncl udi ng but not l i mi t ed t ot hose regul at i ons i ssued on D ecem ber 5t h 2003 under FederalRegi st er Part II D epart m ent of H om el and Securi ty 19 CFR Part s 4, 103, et al , and O w ners f urther w arrant t hat t hey w i l lcom pl yf ul l y wi th t he C BP Regul at i ons. (d) The O w ners shal lassum e l i abi l i t yf or and shal li ndem ni f y, def end and hol d harm l ess t he C hart erers agai nst any l oss and/or dam age (excl udi ng consequenti all oss and/or dam age) and any expenses, f i nes, penal t i es and any ot her cl ai m s, i ncl udi ng but not l i mi ted t ol egal cost s, ari si ng f rom t he O w ners'f ai l ure t o com pl y wi t h any of t he provi si ons of sub-cl ause (a) or f ai l ure t o com pl y wi th t he C BP Regul at i ons, provi ded al w ays t hat Chart erers have, w i t hi n a reasonabl e peri od af ter bei ng request ed by O w ners, on as i s reasonabl y requi red t o enabl et hem t o com pl y wi t h the CBP Regul at i ons. Shoul d such provi ded t hem w i t h such i nf orm at i f ai l ure resul ti n any del ay t hen, not wi t hst andi ng any provi si on i n thi s Chart er Party t ot he cont rary, [the peri od of such del ay shal l not count as l ayt i m e or, i ft he Vesseli s on dem urrage, as dem urrage][t he Vessel shal lbe of f -hi re f or any t i mel ost ]. (e) The assum pt i on of t he rol e of carri er by t he O w ners pursuant t ot hi s Cl ause and f or t he purpose of the U S Custom s Regul at i ons (19 CFR 4. 7) shal lbe w i t hout prej udi ce t ot he i dent i t y of carri er under any bi l l of l adi ng, ot her cont ract ,l aw or regul at i on. 33. BP Casualty and Emergency Response Notification Clause (a) In t he event t hat the Vesseli si nvol ved i n an acci dent or i nci dent ,t he BP Casual t y and Em ergency Response N oti f i cati on Procedure m ust be appl i ed. For t hese purposes an acci dent or i nci dent shal li ncl ude any em ergency, such as a f at al i t y or any seri ous i nj ury, al l i si on, col l i si on, groundi ng, f i re, pol l ut i on or ot her i nci dent w here i m m edi at e assi st ance i s requi red, w here t he progress of the voyage m ay be i m pact ed or w here adverse react i on f rom any aut hori t i es, m edi a, non-governm ent alorgani sat i on ("N G O ") or t he generalpubl i c m ay be expect ed. These not i f i cat i ons shoul d be m ade as earl y as i s pract i caland saf e. (b) Subj ect to the l ocat i on of the Vessel at t he t i m e of t he acci dent or i nci dent , not i f i cat i on shal lbe gi ven i m m edi at el yi nt he f ol l ow i ng m anner: In t he case of a Vessell ocat ed f rom w est of 30 degrees W est t o 180 degrees (Am eri cas Regi on), not i f i cat i on shal l be m ade by t el ephone t o the BP Shi ppi ng U SA N oti f i cat i on Centre i n N apervi l l e, Il l i noi s by cal l i ng + 1 630-961-6200, f ol l ow ed by a tel ex cont ai ni ng t he w ords "BP Casual t y" t o BP Shi ppi ng U SA sent t ot el ex num ber 6738208. (i i ) In t he case of a Vessell ocat ed f rom East of 30 degrees W est t o 180 degrees (M ost of t he W orl d), by sendi ng a t el ex cont ai ni ng t he w ords "BP C asual t y" t o BP Shi ppi ng U K on t el ex num ber 290851 f ol l ow ed by a t el ephone cal lt ot he BP Shi ppi ng Em ergency Tel ephone num ber i n Sunbury, U K + 44 1442 247147. 16

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In ei ther case, the w ords "BP Casual t y" shoul d appear at t he begi nni ng of t he f i rst l i ne of text i m m edi at el yf ol l ow i ng t he t el ex address. The w ords "BP Casual t y" m ust have no spaces, st ops or com m as betw een B and P, but m ay be i n the upper or l ow er case. If t he acci dent occurs w i thi n a port ,t he M ast er m ust copy al lm essages sent to BP Shi ppi ng t o BP Shi ppi ng' s agent i nt he port . (c) N ot i f i cat i on by ei t her t el ephone or t el ex shoul d cont ai nt he f ol l ow i ng i nf orm ati on: The nam e of Vesseland her IM O N um ber; The nat ure of em ergency (col l i si on, groundi ng et c. ); The posi ti on of t he Vessel(Lati t ude, Longi tude, port); Localt i m e, dat e and l ocati on of the i nci dent : The nam e, nat i onal i t y and t ype of any ot her vessel i nvol ved; The nat ure and ext ent of any dam age: D et ai l s of any f atal i t i es and/or personali nj uri es; The st at e of sea or w eather (present and f orecast); The cargo t ype and quant i t y on board If i n port , the nam e of t he ow ner of t he i nst al l at i on and w het her t he Vessel i s at a j et t y, CBM or SBM et c; W het her t ow age i s requi red; In t he event of a cargo spi l l , the m essage shoul d al so i ncl ude: t he l ocalt i m e, dat e and l ocat i on of t he spi l l ; t he t ype of oi l(e. g. crude, bl ack, w hi t e, l ubes et c. ); t he cause i f know n, e. g. overf l ow , hose burst def ecti ve shore pi pel i ne, hul ldef ect , l eaki ng shi ps val ves etc; Est i m at ed quant i t y spi l l ed; Est i m at ed rat e of spi l li f cont i nui ng; and W het her cl eanup i s bei ng at t em pt ed: Any ot her rel evant com m ents; and Ti m e of ori gi n of each report. (d) The obl i gat i ons set out i n thi s cl ause are i n addi t i on t o any st at utory obl i gat i ons, w hi ch O w ners or St at e Aut hori t i es m ay requi re of the M ast er i nt he event of any acci dent or i nci dent casual t y. 34. BP Oil Spill Response and Emergency Contacts Clause O w ners shal ladvi se Chart erers of t he nam es of O w ners'personnelt ogether w i t ht he rel evant t el ephone/f ax/t el ex num bers of cont acts avai l abl e on a 24 hour basi si n event of oi l spi l lor em ergency. Addi ti onal l y, O w ners shal ladvi se Chart erers of t he nam es of Q ual i f i ed Indi vi dual sf or O PA 90 and other such oi lspi l lresponse or cont i ngency pl ans. 35. BP Commingling Clause (a) O w ners agree, i f so request ed by Chart erers, t oi nstruct the M ast er to com m i ngl et he cargo or cargoes l oaded on board, al w ays i n st ri ct com pl i ance w i t h saf et y rul es, and subj ect t ot he t echni calcharact eri st i cs of the Vessel 17

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(b) C hart erers w arrant t hat any cargoes to be com m i ngl ed or bl ended on board shal l be st abl e and com pat i bl e and t hat no preci pi t ati on of sol i d deposi t si n cargo t anks, pi pes, pum ps, val ves w i l loccur. (c) Charterers w i l lhol d O w ners harm l ess and keep t hem f ul l yi ndem ni f i ed agai nst al lcost s, l osses, cl ai m s (i ncl udi ng, but not l i mi ted t o, cl ai m sf or cont am i nat i on or qual i t y det eri orat i on or f ai l ure to m eet any cont ract ualspeci f i cat i on) and expenses (i ncl udi ng , but not l i mi t ed t o, l egalexpenses) caused by or i n any w ay ari si ng f rom Chart erers'i nst ructi ons t o com m i ngl e or bl end on board. Any addi t i onalcosts i ncurred as a resul t of com m i ngl i ng/bl endi ng operat i ons are f or Chart erers'account . i ng or bl endi ng on board, Charterers shal lret urn al lt hree (3) ori gi nalcopi es of al lbi l l s of l adi ng i ssued i n In t he event of com m i ngl respect of t he cargoes to be bl ended or com m i ngl ed t o O w ners f or cancel l at i on. U pon ret urn of t he ori gi nal copi es of t he bi l l s of l adi ng as af oresai d, O w ners w i l li ssue repl acem ent bi l l s of l adi ng i n respect of t he com m i ngl ed or bl ended cargo as descri bed by Chart erers, w hi ch w i l lst at e on t hei rf ace: t he det ai l sf rom the bi l l of l adi ng pursuant t o w hi ch the cargoes w ere ori gi nal l yl oaded, i ncl udi ng t he nat ure of the cargo, t he ori gi nalquant i t yl oaded and t he date and pl ace of l oadi ng; and the pl ace and dat e of t he bl endi ng or com m i ngl i ng t ook pl ace. 36. BP Confidentiality Clause D et ai l s of t hi s Chart er are t o rem ai n pri vate and conf i dent i alby al l part i es concerned, except so f ar as concerns such i nf orm at i on as i s requi red t o be di scl osed by ei ther part yt oi t s em pl oyees, audi t ors, l aw yers and af f i l i at es w ho have a need t o know such i nf orm at i on i n connecti on w i t h the perf orm ance of t hi s C hart er, to any court or governm ent alaut hori t y requi ri ng such, or t o any ot her appropri at et hi rd part yt ot he ext ent necessary to com pl y wi th any l egal or governm ent al requi rem ent. 37. BP Notices Clause (a) W henever w ri t t en noti ces are requi red t o be gi ven by ei t her part y to the ot her part y, such not i ces shal lbe sent by regi st ered m ai l , couri er, tel ex, e-m ai lor tel ef ax or del i vered by hand to the f ol l ow i ng addresses: N ot i ce t o Chart erers: BP Shi ppi ng Li mi t ed [ ] Att enti on: [ Fax N o. [ ] Tel ephone N o. [ ]

Al le-m ai lcorrespondence t o be addressed t o: [ ] 18

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N ot i ce t o O w ners: Senat ore Shi ppi ng C om pany Li mi ted C/O Scorpi o Shi p M anagem ent sam 9 bl vd. Charl es III M C98000 M onaco Tel ephone N o. Fax N o. + 377 97985700 + 377 92053146

Al le-m ai lcorrespondence t o be addressed t o: m anagem ent @ scorpi o. mc or t o such ot her addresses as t he parti es m ay respect i vel yf rom t i met ot i m e desi gnat e by noti ce i n w ri t i ng. Any f ai l ure t ot ransm i t a copy of the not i ce t o a part yl i st ed as ent i t l ed t o recei ve a copy shal l not i n any w ay af f ect t he val i di ty of any not i ce ot herw i se properl y gi ven. (b) Any not i ce requi red under t hi s Chart er t o be gi ven i n w ri t i ng shal lbe deem ed t o be dul y recei ved onl y: In t he case of a t el ex, at t he ti m e of transm i ssi on recorded on t he m essage i f such t i mei swi t hi n norm albusi ness hours betw een 09:00 hrs and 17:00 hrs on a w orki ng day at t he pl ace of recei pt , otherw i se at t he com m encem ent of norm albusi ness hours on edgm ent bei ng recei ved by aut om at i ct el ex t he next w orki ng day at t he pl ace of recei pt, subj ect i n bot h cases t o an acknow l answ er back response. In t he case of a l ett er, w het her del i vered i n course of the post or by hand or by couri er, at t he date and t i m e of i t s act ualdel i very i fw i t hi n norm albusi ness hours bet w een 09:00 and 17:00 hrs on a w orki ng day at the pl ace of recei pt , otherw i se at t he com m encem ent of norm albusi ness on t he next w orki ng day. In t he case of a t el ef ax, at t he ti m e of transm i ssi on recorded on t he m essage i f such t i mei swi t hi n norm albusi ness hours betw een 09. 00 a. m . and 05. 00 p. m . on a w orki ng day at t he pl ace of recei pt , ot herw i se at t he com m encem ent of norm al busi ness hours on t he next w orki ng day at t he pl ace of recei pt, subj ect i n bot h cases t o an acknow l edgm ent bei ng recei ved by t el ef ax. In t he case of e-m ai l , on t he day of recei pt i f recei ved w i thi n norm albusi ness hours bet w een 09. 00 a. m . and 05. 00 p. m . on a norm alw orki ng day at t he pl ace of recei pt , or ot herw i se at t he com m encem ent of norm albusi ness hours on t he next w orki ng day. 38. BP Remeasurement Clause Chart erers shal lhave t he ri ght t o request that t he Vesseli s rem easured t o com pl y wi t h part i cul ar port rest ri ct i ons. In such case, t he cost s of rem easurem ent shal lbe f or Chart erers'account . 19

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39. BP Ballast Water Management Clause O w ners w arrant t hat the vesselshal lcom pl y wi t h al lm andat ory bal l ast w at er requi rem ent s at Chart erers't i m e and expense. The O w ners shal lassum e l i abi l i t yf or and shal li ndem ni f y, def end and hol d harm l ess t he Charterers agai nst any l oss and/or dam age (excl udi ng consequent i all oss and/or dam age) and any expenses, f i nes, penal t i es and any ot her cl ai m s, i ncl udi ng but not l i mi t ed to l egalcost s, ari si ng f rom t he O w ners'f ai l ure t o com pl y wi t h any such provi si ons. Shoul d such f ai l ure resul ti n any del ay t hen, not wi t hst andi ng any provi si on i n thi s Chart er Party t ot he cont rary, t he Vesselshal l be of f -hi re f or any t i mel ost . 40. BP New Building Clause DELETED Charter Specific Clauses 41. BP Ice Strengthened Vessel Clause DELETED 42. BP Castellon Clause If the Vesseli st o di scharge at C ast el l on CBM , provi ded Chart erers advi se O w ners i n reasonabl et i met o provi de t he requi si t e m oori ng ropes as bel ow , O w ners undert ake t hat t he Vesselshal l ,i nt er al i a, com pl y wi t ht he f ol l ow i ng requi rem ent s: (a) The Vessel shal lbe f i t t ed w i t h tw o w orki ng anchors w i t hami ni m um of 12 shackl es of chai n on each anchor; and (b) The Vesselshal lrepl ace t he exi st i ng 2 x 220m w i re ropes on m oori ng drum s w i t h 2 sof t m oori ng ropes on drum s pl us 2 sof t m oori ng ropes m ade f ast on m ai n deck bi tt s on t he af ter end of the m ai n deck f orw ard of the accom m odat i on, each havi ng a mi ni m um l engt h of 250 m et res; and (c) The Vessel shal lbe f i t t ed w i t h 6 wi re ropes on m oori ng drum s pl us 2 sof t m oori ng ropes m ade f ast on poop deck bi t ts (m i xed m oori ng), each havi ng a m i ni m um l engt h of 220 m et res; and (d) The m oori ng l i nes shal lbe i n good condi t i on and be ei ther synt heti c ropes w i t hami ni m um breaki ng l oad at l east equalt ot hat of t he Vessel ' s cl ass approved m oori ng out f i t or w i res of equi val ent strength f i t t ed w i t h synthet i c rope t ai l s as speci f i ed i nt he l atest edi t i on of t he O CIM F publ i cati on "M oori ng Equi pm ent G ui del i nes". W here l ow stretch synt het i c ropes are used as m oori ng l i nes (such as those carryi ng t he brand nam e "D yneem a" or St eel i t e") t hey shal lal so be f i t t ed w i t h the sam e synthet i c rope t ai l s; and (e) The Vesselshal lbe capabl e of m ai nt ai ni ng on board a m i ni m um of 33% of her sum m er deadw ei ght as cargo and/or bal l ast at al lt i m es w i t h her propel l er f ul l yi m m ersed and w i th seaw ort hy t ri m. (f ) W hen carryi ng C rude O i lw hi ch has a pour poi nt of 5 degs C or l ow er, t he vesselm ust be capabl e of f l ushi ng t he shore l i ne w i t h 4, 000 cubi c m et ers of seaw at er. 20

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43. BP Genoa Clause (a) If t he Vesseli st o di scharge at G enoa, O w ners undert ake t hat t he Vessel shal l ,i nt er al i a, com pl y wi t h the f ol l ow i ng requi rem ent s: t he M ast er shal lprepare a f ul l di scharge pl an (support ed by, w i t hout l i mi t at i on, t ri m and st abi l i t yi nf orm ati on and t he C rude O i l W ashi ng M anual )i n advance and upon arri val of t he Vessel shal lseek authori sati on f rom t he port aut hori t yt o m axi mi se t he Vessel ' s tri m by the st ern (al w ays consi st ent w i t ht he saf et y of t he Vessel , her crew and cargo) i n order bot h to m axi mi se and expedi t e cargo di scharge; (i i )t he O CIM F recom m endat i ons f or m ani f ol ds; t he Vesselshal lbe equi pped w i th 1" ASA 150 f l ange or screw connecti on of 0. 5" N PT; and ng poi nts, w hi ch are t o have approved cal i brat i ons. (i v) t he Vesselshal lbe equi pped w i t h cl osed ul l agi ng/ sam pl i ng/di ppi (b) If t he Vesseli s to di scharge at t he Si ngl e Poi nt M oori ng Tow er or t he Si ngl e Buoy M oori ng O w ners undert ake that t he Vessel shal l ,i nt er al i a, com pl y wi t ht he f ol l ow i ng addi t i onalrequi rem ent s:(i )t he O CIM F recom m endat i ons f or Si ngl e Poi nt M oori ng, m ani f ol ds and associ at ed equi pm ent . (Sm i t Bracket s are not accept abl e); (i i )t he Vessel ' s ai r draught shal lnot exceed 47. 9 m et res at any t i m e; and (i i i )t he Vessel shal lpresent 2x16 i nch m ani f ol ds on the port si de. (c) O w ners undert ake that t he Vesselshal ldi scharge a f ul lcargo, as def i ned i n Cl ause 19 of thi s Chart er, w i t hi n tw enty-f our (24) hours, or pro rat at hereof i n respect of a part cargo, f rom t he com m encem ent of pum pi ng, or t hat t he Vessel shal lm ai nt ai na mi ni m um di scharge pressure of seven (7) bar at t he Vessel ' s m ani f ol dt hroughout the peri od of di scharge, provi ded t hat t he recei vi ng f aci l i t i es are capabl e of accept i ng di scharge of the cargo w i t hi n such t i m e or at such pressure. If addi ti onalcrude oi l w ashi ng i s request ed by C hart erers t hen t he peri od ref erred t oi nt he f i rst paragraph under Cl ause 19. 3. 2 of thi s Chart er shal l be i ncreased by tw enty-f i ve percent (25% ). (d) The recei vi ng f aci l i ti es at G enoa shal l have t he ri ght t o gauge t he di scharge pressure at the Vessel ' s m ani f ol d by w hatever m eans t hey deem appropri ate i ncl udi ng, but not l i mi t ed to, i nst al l at i on of dul y cert i f i ed port abl e pressure recorders out board of t he Vessel ' s m ani f ol d. The pressure graph shal lbe si gned j oi nt l y by a seni or of f i cer of t he Vesseland a Term i nalrepresent ati ve (and, i f appl i cabl e, a Chart erers'represent at i ve) on com pl et i on of di scharge. The pressure graph shal lconst i t ut e evi dence of t he pum pi ng perf orm ance of t he Vesself or the purpose of t hi s Cl ause. 44. BP Grangemouth Clause DELETED. 45. BP Hamble Clause DELETED. 21

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46. BP Isle of Grain Clause DELETED. 47. BP Jebel Dhanna Clause If the Vesseli st ol oad or di scharge at JebelD hanna and/or Ruw ai s Pet rol eum Port , O w ners undert ake t hat : (a) t he M ast er shal ladvi se AD CO /AD PPO C of t he Vessel ' s ETA at JebelD hanna/Ruw ai s 72 hours, 48 hours, 24 hours and 12 hours pri or t o the Vessel ' s arri val ,i n addi t i on t ot he requi rem ents of C l ause 4 of t hi s Chart er. (b) the Vessel shal l ,i nter al i a, com pl y wi th t he f ol l ow i ng requi rem ent s:(i )t he Vessel ' s ai r condi ti oni ng syst em shal lbe f ul l y operati onalduri ng t he sum m er m ont hs (f rom t he 1st of Apri lunt i lthe 30t h Sept em ber, bot h dat es i ncl uded); (i i ) al l port hol es, w i ndow s and doors shal lbe kept cl osed and al laccess doors shal lbe cl osed af t er use; t i oni ng on reci rcul ati on; and (i i i ) posi ti ve pressure shal l be m ai nt ai ned i nt he accom m odati on w i th t he ai r condi (i v) t he M ast er shal l not perm i t any di esel generat ors t o be operat ed on deck duri ng cargo operati ons. 48. BP Libya Clause (a) If t he Vesseli st ol oad at a port i n Li bya, O w ners undert ake that t he Vesselshal l ,i nt er al i a, com pl y wi t h the f ol l ow i ng requi rem ent s: (i ) The M ast er shal l , upon sai l i ng f rom t he l ast port of cal l ,i nf orm the agents i n Li bya of the f ol l ow i ng vesseli nf orm at i on: (aa) nam e, (bb) cal lsi gn, (cc) nat i onal i t y/f l ag, (dd) nam e and address of O w ners, (ee) nam e and nati onal i ty of t he M aster, (f f ) num ber of crew and passengers, (gg) gross t onnage, net t onnage, sum m er D W T, (hh) LO A, (i i ) beam , (j j ) nam e of l ast port , (kk) dat e and t i m e of sai l i ng l ast port, (11) nam e of next port i n Li bya, (m m ) type of cargo t o be l oaded/di scharged and (nn) ETA. (i i ) 24 hours bef ore t he Vessel ' s arri valat one of the desi gnat ed Li byan approach report i ng poi nts, t he M aster shoul df orw ard t he above det ai l st ot he nearest Coast G uard St ati on and agai nt ot he Li byan agent s. In addi ti on, t he f ol l ow i ng i nf orm at i on shoul d al so be suppl i ed:- (1) posi t i on, (2) speed, (3) course, (4) Approach Reporti ng Poi nt to be used, (5) sea condi t i on, (6) Vessel condi t i on. 22

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(i i i )t he Vessel shal lhave on board t he di scharge cert i f i cat ei n respect of t he l ast cargo of crude or product s, i f any, w hi ch she l oaded at a Li byan port . Thi s cert i f i cat e shal lhave been count ersi gned by t he rel evant aut hori ti es at t he port at w hi ch the Vessel di scharged such cargo. (b) Any del ays ari si ng as a resul t of O w ners'f ai l ure t o com pl y wi t ht hi s Cl ause shal lcount as a peri od of f hi re and C hart erers shal l be ent i t l ed t o recover, by deduct i on f rom hi re, any l osses, dam ages, cost s or expenses ari si ng as a resul t of O w ners'f ai l ure so t o com pl y. 49. BP Ras Tanura Clause (a) If t he Vesseli st ol oad at ei t her t he Ras Tanura and/or Juaym ah term i nal s, O w ners undertake t hat t he Vesselshal l ,i nt er al i a, com pl y wi t ht he f ol l ow i ng requi rem ent s: e Buoy M oori ng ("SBM "), (i ) w hen bert hi ng, t he Vesseltri m shal l not exceed 0. 7% of t he shi ps l engt h by t he st ern at a Si ngl or 1. 5% of t he shi ps l ength by the st ern at a sea i sl and or j et ty, w i th t he propel l er f ul l yi m m ersed. The m axi m um st ern t ri m of t he Vessel at al lot her t i m es shal l be no m ore t han 1. 5% of i t sl engt h overal l ,w i t h the propel l er f ul l yi m m ersed. The Vesselshal lbe abl e ei t her t ol oad, debal l ast or l oad and debal l ast si m ul t aneousl y, i n order t o m ai nt ai nt he requi si t e st ern t ri m; (i i )t he Vesselshal lbe capabl e of debal l ast i ng w i t hi nat i m e w hi ch SaudiAram co consi ders norm al ; and (i i i ) unti lsuch t i m e as t he Vesseli s saf el y al ongsi de, she shal lret ai n on board a quant i t y of cl ean bal l ast suf f i ci ent t o ensure saf e handl i ng duri ng her passage t ot he bert h. (b) If t he Vesseli s to l oad at an SBM at Juaym ah, O w ners undert ake that t he Vesselshal l ,i nt er al i a, com pl y wi t ht he f ol l ow i ng addi t i onalrequi rem ents:(i )t he Vesselshal lcom pl yi n al lrespects w i t ht he O CIM F recom m endat i ons f or m oori ng at SBM s and al lt he O CIM F recom m endat i ons i n respect of m ani f ol ds and associ ated equi pm ent; (i i )t he Vesselshal lbe f i t t ed w i t hami ni m um of t w o (2) bow chai n st oppers; and (i i i )t he Vessel shal lhave a hose-handl i ng crane or derri ck w i th a m i ni m um saf e w orki ng l oad of 15 t onnes. (c) If t he Vesseli st ol oad at a sea i sl and or j et t y at Ras Tanura, O w ners undert ake t hat t he Vesselshal l ,i nt er al i a, com pl y wi t h t he f ol l ow i ng addi t i onalrequi rem ent s:23

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(i )wi re l i nes shal lbe reel ed on t o wi nches w i th brakes set at si xt y (60) % of M BL and depl oyed as f ol l ow s: SDWT 75-160, 000 t onnes 8 161- 250, 000 tonnes 10 251-300, 000 tonnes 12 301-350, 000 tonnes 12 O ver 350, 000 t onnes 14 16 16 14 12 12

Wire lines required

Recommended

(i i ) al l m oori ng equi pm ent shal l com pl y wi t ht he O CIM F recom m ended st andards appropri at et ot he si ze of t he Vessel . 50. BP Rotterdam Clause If the Vesseli st o di scharge at the N EREFCO Term i nal i n Rot t erdam , O w ners undert ake t hat t he Vessel shal lcom pl y wi th t he f ol l ow i ng requi rem ent s:(a) t he Vessel ' si nert gas pressure shal lbe reduced to a m i ni m um , posi t i ve saf el eveli n accordance w i t ht he port requi rem ents pri or t o arri valat Rot t erdam ; and (b) the hei ght of t he Vessel ' s m ani f ol d shal lt hroughout di schargi ng be a m axi m um of 25 m etres above sea l evel . 51. BP Sidi Kerir Clause If the Vesseli st ol oad at Si diKeri r, O w ners undert ake that t he Vesselshal lcom pl y wi t h the f ol l ow i ng requi rem ent s:(a) t he Vesselshal l carry on board an up t o dat e copy of Chart N o. BA 3325; on arri valthe st ern t ri m of t he Vesselshal lnot exceed 3 m etres, w i th t he propel l er com pl et el yi m m ersed; (b) w hi l st m oored t ot he buoy, at no such ti m e shal lt he vessel st ri m exceed 4. 5 m eters at t he stern; (c) t he Vesselm ust m ai nt ai nami ni m um of 25% SD W T at al lt i m es; (d) the Vessel shal lbe abl et ol oad and debal l ast si m ul t aneousl y w hi l st m ai nt ai ni ng proper cargo/cargo and cargo/bal l ast segregat i on; (e) t he Vesselshal lbe equi pped w i th Bow Panam a Fai rl ead i n accordance w i t h O CIM F recom m endat i ons f or vessel s m oori ng t o SBM ' s; (f ) the Vesselshal l cont act t he Term i nal (as such t erm i s def i ned under Cl ause 6. 3. 3 of thi s Chart er) no l at er t han si x (6) hours pri or t o her arri val , and be prepared t oi ncrease t he quant i ty of bal l ast on board shoul dt he prevai l i ng w eat her condi t i ons deem i t necessary; lbe equi pped w i t h a derri ck/crane w i t hami ni m um SW L 10m t ; (g) the Vessel shal 24

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(h) t he Vesselshal l present 3 x 16 i nch 150 ASA m ani f ol df l anges on t he port si de. 52. BP Sullom Voe Clause (a) If t he Vesseli st ol oad at Sul l om Voe, O w ners undert ake t hat t he Vesselshal l ,i nt er al i a, com pl y wi t ht he f ol l ow i ng requi rem ent s:(i )t he Vesselshal lhave a m i ni m um of 35% of i t s current sum m er deadw ei ght com pri si ng of bal l ast , bunkers, st ores and w ater; t he Vesselshal lbe equi pped w i th an af tf aci ng accom m odat i on l adder com pl yi ng w i t ht he M erchant Shi ppi ng (Pi l ot Ladders and H oi st s) Regul at i ons 1987, and be i n com pl i ance w i t h SO LAS C hapt er 5, Regul at i on 23, Sect i on 3. 1. 5 (t he l ow er end of t he accom m odat i on l adder shal l rest f i rm l y agai nst t he Vessel ' s si de w i t ht he gangw ay secured); ng system . If rope t ai l s are t he Vesselshal lbe equi pped w i th ei ther a pure w i re m oori ng syst em or an equi val ent synt het i c m oori f i t ted t o m oori ng w i res t hey shal lhave a breaki ng st rengt h of a m i ni m um of 25% greater than t he breaki ng l oad of t he pure w i res. Al lm oori ngs and m oori ng operat i ons shal lbe conduct ed i n accordance w i th t he O CIM F "G ui del i nes and Recom m endat i ons f or t he Saf e M oori ng O f Large Shi ps at Pi ers and Sea Isl ands". M oori ng operat i ons shal lbe under t he cont rolof t he pi l ot and t he Vessel ' s crew shal lnot heave up on t he m oori ng l i nes unt i li nstruct ed t o do so. (i v) t he Vesselshal lpresent m ani f ol ds of 16 i nch di am eter, cl ass ASA 150 w i th a m i ni m um 500 m m betw een f l anges or reducer / spoolpi eces such that t he qui ck cl osi ng coupl er m ay operat e wi thout rest ri ct i ons; and (v) the Vesselshal l be capabl e of l oadi ng cargo at a rat e greater t han t he f ol l ow i ng m i ni m um bul k rat es and of debal l ast i ng w i t hi n t he f ol l ow i ng m axi m um peri ods as appropri at e:Minimum Cargo Loading Rate 7. 5% of SD W T/H our 81, 284 t o 162, 567 6. 6% of SD W T/H our 162, 568 t o 325, 134 5. 8% of SD W T/H our O ver 325, 135 4. 5% of SD W T/H our 13 hrs 11 hrs 10 m i ns 8 hrs 40 m i ns Maximum Deballasting Time 5 hrs 30 m i ns

Ship's Size (Tonnes SDWT) Up t o 81, 283

(b) If t he Vessel ' s cargo acceptance rat ei sl ess t han t he rel evant m i ni m um rat e speci f i ed above or i f her debal l ast i ng t i m e exceeds t he rel evant m axi m um ti m e speci f i ed above t he excess t i m e requi red t o com pl et el oadi ng shal lcount as a peri od of f hi re and Chart erers shal lbe ent i tl ed t o recover, by deduct i on f rom hi re, any l osses, dam ages, cost s or expenses ari si ng as a resul t of O w ners'f ai l ure so t ol oad. 25

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53. BP Trieste Clause (a) If t he Vesseli st o di scharge at Tri est e, O w ners undertake t hat t he Vesselshal l ,i nt er al i a, com pl y wi t ht he f ol l ow i ng requi rem ent s:(i )f urt her t ot he provi si ons of Cl ause 12 of t hi s C hart er, t he cargo on board t he Vesselshal lrem ai n seal ed and shal l be kept under posi t i ve i nert gas pressure, t hroughout t he Vessel ' s st ay al ongsi de t he bert h; (i i )t he i nert gas pl ant i si nf ul l w orki ng condi ti on w i t h al lassoci at ed equi pm ent sat i sf act ori l yi nspected and t ested, the scrubber out f l ow bei ng, at al lt i m es f ree of soot ; and (i i i )t he Vessel shal lbe equi pped w i t h cl osed ul l agi ng/sam pl i ng/di ppi ng poi nt s, w hi ch are to have approved cal i brat i ons. nes and associ at ed equi pm ent have been sat i sf act ori l y (b) O w ners f urt her undert ake t hat al lcargo and crude oi lw ashi ng l i i nspect ed and t est ed w i t hi n 30 days of t he Vessel ' s arri valat Tri est e. In part i cul ar, but w i t hout prej udi ce t ot he f oregoi ng, the pressure t est i s not t o have reveal ed any l eaks or abnorm al i ti es i nt he system s. Al lassoci at ed cont rol equi pm ent and i nstrum ent ati on shal l be f ul l y operat i onal . (c) O w ners f urther undert ake t hat the Vesselconf orm s to al lrequi rem ent s under European C ounci lD i rect i ve 95/21/EC (i ncorporated i nt o Engl i sh Law under the M erchant Shi ppi ng (Port St at e Cont rol ) Regul at i ons 1995). (d) If , w hen t he Vesseli si nspect ed by t he aut hori ti es to ascertai n com pl i ance w i t h the sai d Di rect i ve, t he Vesseli s del ayed by reason of non-com pl i ance w i t h any requi rem ent thereunder, t hen t he peri od of any such del ay shal l not count as l ayti m e or, i f the Vessel i s on dem urrage, as dem urrage. (e) The f oregoi ng shal li n no w ay t o be const rued as a represent ati on by Chart erers as t ot he rel evant port requi rem ents, nor shal l O w ners'com pl i ance w i t h the above rel i eve O w ners of thei r obl i gat i ons under t hi s Charter. 54. BP Turkish Straits Clause (a) For the durati on of thi s Chart er, i f the Vesseli st o proceed, w het her l aden or i n bal l ast , through t he St rai ght of Istanbul(t he Bosphorus), Sea of M arm ara and /or t he St rai t of Canakkal e (t he D ardanel l e' s) (herei naf ter col l ect i vel y descri bed as t he Turki sh Strai t s' ), O w ners undert ake t hat t hey, t he M ast er and t he Vesselshal l ,i nt er al i a, com pl y wi t h al lrul es, regul at i ons and recom m endat i ons cont ai ned i nt he "M ari t i m e Traf f i c Regul ati ons f or t he Turki sh St rai t s and t he M arm ara Regi on, 1998" as am ended or re-i ssued f rom t i m e to ti m e and t he "St rai t of Ist anbul , Sea of M arm ara and t he St rai t of Canakkal e Rout ei ng G ui de, N o. 9000 of 1999", as am ended or re-i ssued f rom t i m e to ti m e, and i n part i cul ar (w i thout prej udi ce t ot he general i t y of t he f orgoi ng), com pl y wi t h the f ol l ow i ng provi si ons: (i )t he M ast er shal lf am i l i ari se hi m sel f , and com pl y wi t h al lrul es, regul at i ons and recom m endat i ons l ai d dow n i n any shi p/t raf f i c report i ng schem es i n operat i on duri ng the peri od of t hi s chart er f or the t ransi t i ng of the "Turki sh St rai ts", and 26

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(i i )t he Vesselshal lt ake qual i f i ed Pi l ot sf or t he transi t of bot h the Strai ts of Ist anbul (the Bosphorus) and t he St rai t s of Canakkal e (t he D ardanel l e' s), and (i i i ) Vessel s havi ng a m axi m um draf t of 15 m et res or m ore and/or havi ng an overal ll ength of 200 m et ers or m ore shal lnavi gat e bot ht he St rai t s of Ist anbul(t he Bosphorus) and/or t he St rai t s of Canakkal e (t he D ardanel l e' s) i n dayl i ght onl y, and (b) O w ners shal l ensure t hat t he M ast er and Vesselcom pl y wi th t he f orgoi ng provi si ons on each and every occasi on on w hi ch t he Vessel t ransi t st he "Turki sh St rai t s" i n connect i on w i t ht he perf orm ance of t hei r obl i gat i ons under t hi s C hart er, i ncl udi ng f or the avoi dance of doubt w hen t ransi t i ng the "Turki sh St rai t s": (i )f rom w est t o east i n order t ol oad a cargo or part cargo hereunder and/or (i i )f rom east to w est , havi ng di scharged a cargo or part cargo hereunder. i n each case, unl ess t he Vessel i s at t he t i m e of t ransi t under charter to a part y ot her t han t he Charterers. (c) O w ners shal lappoi nt Chart erers'Agent s/Pi l ot s at Ist anbul , and such Agent s/Pi l ot s shal lbe em pl oyed, i nst ruct ed and pai d by Chart erers, 55. BP Magellan Straits Routing Clause O w ners w arrant t hat the Vessel w i l l not rout e vi at he M agel l an Strai t s w hen t ransi ti ng f rom The Sout hern At l ant i c O cean t ot he Southern Paci f i c O cean, or vi ce versa. 56. BP Baltic Routing Clause If ,i nt he course of perf orm i ng t hi s C hart er (i ncl udi ng any bal l ast passage f rom t he l ast di scharge port under any previ ous f i xt ure, pri or t o del i very t o Chart erers), t he Vesselproceeds t o or f rom the Bal t i c Sea, i ncl udi ng t he East coast of D enm ark and the W est coast of Sw eden, w het her l aden or i n bal l ast, O w ners w arrant t hat they w i l lcom pl y wi t ht he f ol l ow i ng provi si ons w i t h regard t o rout i ng and t he use of pi l ot s: (a) Laden Vessel s of 40, 000dw t or great er (i ) A Pi l ot m ust be em pl oyed by t he Vessel ,i nl i ne w i t ht he IM O Shi ps Rout i ng (7 th Edi t i on), on any i nw ard passage f rom the Skaw and on any out w ard passage t ot he Skaw , i f proceedi ng t o or f rom : (aa) East Coast of Jut l and or Bel t port s; (bb) Bal t i c port s, i ft he Vesseli s requi red by vi rt ue of i t s draught t ot ransi tt he G reat Bel t . D eep draught ed vessel s m ust use "Rout e T" desi gnat ed by t he D ani sh G overnm ent , and be gui ded by t he Pi l ot ' s advi ce. 27

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(i i ) A Sea Pi l ot shal lbe em pl oyed by t he Vesselw hen proceedi ng al ong t he Sw edi sh coast tow ards H oganas/El si nore. (i i i ) Vessel s out w ard bound f rom t he Bal t i c m ust em bark a Pi l ot at Bornhol m . (IM O recom m ends al lvessel swi t h a draught of 11 m et ers shoul d engage l ocalpi l otage servi ces). (b) Laden Vessel s of l ess t han 40, 000 dw t (i ) Sea pi l ot age i s opt i onal . If deem ed necessary by t he M ast er, a Pi l ot m ay be em pl oyed by t he Vesselon i nw ard passage f rom t he Skaw and on out w ard passage t ot he Skaw . H ow ever, a Pi l ot m ust be em pl oyed by t he Vessel ,i nl i ne w i t ht he IM O Shi ps Rout i ng (7 th Edi ti on), on i nw ard passage f rom G renna and on outw ard passage to G renna i f proceedi ng to or f rom : (aa) East Coast of Jut l and or Bel t port s; (bb) Bal t i c port s, i ft he Vesseli s requi red by vi rt ue of i t s draught t ot ransi tt he G reat Bel t . D eep draught ed vessel s m ust use "Rout e T" desi gnat ed by t he D ani sh G overnm ent , and be gui ded by t he Pi l ot ' s advi ce; or (cc) w hen navi gat i ng The Sound (i i ) A Sea Pi l ot shal lbe em pl oyed by Vessel s proceedi ng al ong t he Sw edi sh Coast t ow ards H oganas/El si nore. (i i i ) Vessel s out w ard bound f rom t he Bal t i c m ay em bark a pi l ot at Bornhol m , but m ust em bark a pi l ot f rom G edser (c) Vessel s of 40, 000 dw t or great er, i n bal l ast (i ) Sea pi l ot age i s opt i onal . If deem ed necessary by t he M ast er, a Pi l ot m ay be em pl oyed by t he Vesselon i nw ard passage f rom t he Skaw and on out w ard passage t ot he Skaw . H ow ever, a Pi l ot m ust be em pl oyed by t he Vessel ,i nl i ne w i t ht he IM O Shi ps Rout i ng (7 th Edi ti on), on i nw ard passage f rom G renna and on outw ard passage to G renna i f proceedi ng to or f rom : (aa) East Coast of Jut l and or Bel t port s; or (bb) Bal t i c port s, i ft he Vesseli s requi red by vi rt ue of i t s draught t ot ransi tt he G reat Bel t . D eep draught ed vessel s m ust use "Rout e T" desi gnat ed by t he D ani sh G overnm ent , and be gui ded by t he Pi l ot ' s advi ce. (i i ) Vessel s out w ard bound f rom t he Bal t i c m ay em bark a pi l ot at Bornhol m , but m ust em bark a pi l ot f rom G edser. (i i i ) Such Vessel s shal l not t ransi t of The Sound. (d) Vessel sl ess t han 40, 000 dw t ,i n bal l ast 28

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(i ) Sea pi l ot age i s opt i onal . If deem ed necessary by t he M ast er, a Pi l ot m ay be em pl oyed by t he Vesselon i nw ard passage f rom t he Skaw and on out w ard passage t ot he Skaw . H ow ever, a Pi l ot shal lbe em pl oyed by t he Vessel ,i nl i ne w i t ht he IM O Shi ps Rout i ng (7th Edi t i on), w hen navi gat i ng The Sound. (i i ) For Sout hbound t ransi t of The Sound pi l ot s m ust be em barked f rom El si nore t o D rogden. For N ort hbound t ransi t of The Sound pi l ot s m ust be em barked f rom D rogden t o El si nore. (i i i ) For bal l ast ed passages usi ng t he G reat Bel t , pi l ot age i s not requi red. H ow ever, M ast ers shoul d be gui ded by advi ce rel at i ng t o pi l ot age f rom Chart erers'agent s w hen proceedi ng bet w een ports i nt hi s area, or w hen i ce condi t i ons i ndi cat e that addi t i onal pi l ot age advi ce m ay be necessary. N ot wi t hstandi ng anyt hi ng provi ded i nt hi s cl ause, pi l ot s ordered i n accordance t hereto shal lbe f or C hart erers account s. 57. TOPIA 2006 Clause (Issued 6th November 2006) O w ners w arrant t hat they are a Part i ci pati ng O w ner (as def i ned i nt he Tanker O i l Pol l uti on Indem ni f i cat i on Agreem ent 2006 (TO PIA 2006)) and t hat t he vesseli s ent ered i n TO PIA 2006 and shal lso rem ai nt hroughout t he peri od of t hi s C hart er, provi ded al w ays t hat :i )t he Vesseli s and rem ai ns a Rel evant Shi p as def i ned i n cl ause III of TO PIA 2006; and i i ) TO PIA 2006 i s not t erm i nat ed i n accordance w i t h cl ause IX of that agreem ent . OWNERS CLAUSES Marine growth If the Vesselst ays or i sl ai d up f or m ore t han 20 days i n a port and/or anchorage and/or bert h, t hen O w ners t o not i f y Chart erers t hat t he Vessel ' s perf orm ance m ay be af f ect ed and O w ners w i l l not be responsi bl ef or changes i n the Vessel ' s descri pti on of speed and consum pt i ons, unt i lthe Vessel ' s hul lhas been scrubbed w hi ch O w ners shal larrange at t hei r and C hart erers'earl i est conveni ence, and w hi ch shal lbe at Chart erers't i m e and expense. (see cl ause 21 of m ai nt erm s). Additional trading exemptions The vessel i s not t o be used as a shut tl et anker how ever O w ners are w i l l i ng t o di scuss use of t he vesselas a shut tl e tanker subj ect t o m ut ualagreem ent of revi sed term s and condi t i ons w hi ch shal li ncl ude revi si on of t he com m erci alt erm s. 29

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ADDENDUM NO. TO 1 M.T. "SENATORE" TIME CHARTER PARTY DATED LONDON 20TH JULY 2007 IT IS H EREBY M U TU ALLY U N D ERSTO O D AN D AG REED bet w een SEN ATO RE SH IPPIN G CO M PAN Y LIM ITED of Aj el t ake Road Aj el t ake Isl and, M aj uro M H 96960 M arshal l Isl ands, O w ners, and BP SH IPPIN G LIM ITED , Chart erers, under Ti m e Chart er Part y dat ed London 20t h Jul y 2007, t hat : 1. 2. A com m i ssi on of 1. 25% i s payabl et o H . Cl arkson & Co. Lt d. Except as herei n provi ded and so f ar as m aybe otherw i se necessary t o gi ve ef f ect to the f oregoi ng provi si ons, the t erm s, condi t i ons and excepti ons of the Ti m e C hart er Part y shal l rem ai n unal t ered.

W ITN ESS TO TH E SIG N ATU RE O F

/s/ Al bert o Faral do Al bert o Faral do - D i rect or W ITN ESS TO TH E SIG N ATU RE O F

CH ARTERIN G M AN AG ER Addendum N o. 1 London, 30 th January 2009

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ADDENDUM NO. TO 2 M.T. "SENATORE" TIME CHARTER PARTY DATED LONDON 20TH JULY 2007 IT IS H EREBY M U TU ALLY U N D ERSTO O D AN D AG REED bet w een SEN ATO RE SH IPPIN G CO M PAN Y LIM ITED of Aj el t ake Road Aj el t ake Isl and, M aj uro M H 96960 M arshal l Isl ands, O w ners, and BP SH IPPIN G LIM ITED , C hart erers, under Ti m e Chart er Part y dat ed London 20th Jul y 2007, t hat : 1. G oa t ransi t Vessel t o have t he l i bert yt oj oi nt he f i rst avai l abl e convoy/control l ed rout es i nf orce i n G oa and to rem ai nf ul l y on hi re duri ng al l w ai t i ng t i m e necessary to exerci se the l i bert y as above O w ners/M aster m ust al w ays exerci se t hei r best endeavor t o mi ni mi ze del ays. For sake of cl ari t y, i f O w ners/M ast er cause the vesselto m i ss t he f i rst avai l abl e convoy once arri ved at the j oi ni ng area, al l t i mel ost w ai t i ng f or t he next convoy w i l lbe f or O w ners'account. It i s agreed t hat i nt he event of capture vessel t o rem ai n on-hi re except w here of f -hi re provi si ons appl y under governi ng Ti m e Chart er Party and/or w here som e ot her except i on under the chart er m ay appl y (e. g. O w ners'breach), unl ess such of f hi re ari ses as a di rect consequence of t he ki dnappi ng. O w ners re-conf i rm ed that t he vesselw i l lf ol l ow t he GUIDANCE TO THE INTERNATIONAL MARITIME COMMUNITY OPERATING IN THE GULF OF ADEN Issued by t he M ari t i m e Securi t y Cent re -EU N AVFO R SO M ALIA (w ebsi t e www. m schoa. org).

/cont .

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2.

Except as herei n provi ded and so f ar as m aybe otherw i se necessary t o gi ve ef f ect to the f oregoi ng provi si ons, the t erm s, condi t i ons and excepti ons of the Ti m e C hart er Part y and Addendum N o. 1 shal l rem ai n unal t ered.

W ITN ESS TO TH E SIG N ATU RE O F

/s/ Al bert o Faral do Al bert o Faral do - D i rect or W ITN ESS TO TH E SIG N ATU RE O F

Addendum N o. 2 London. 12 th February 2009 2 Source: O neCLE Busi ness C ont ract s.

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