2. Owner and Place of business 3. Charter and Place of business. 10. Full and complete/part Cargo and Quantity 11. Laycan commencement / Cancelling

Transcription

1 Printed by BIMCO s idea BHP Billiton Voyage Charter party Place and Date BHP Billiton Face page. 2. Owner and Place of business 3. Charter and Place of business 4. Vessels name 5. Flag and Age / 6. Vessels description o/wise as per Appendix A 7. Itinerary Click here to enter text. 8. Loading port 9. Discharge port 10. Full and complete/part Cargo and Quantity 11. Laycan commencement / Cancelling 12. Freight rate 13. Laytime for loading free/liner in and free/liner out and spout/dump /machine trimmed, or stowed, dunnaged, lashed and secured. 14. Demurrage / Despatch 15. Laytime for Discharge 16. Turn Time Load port 17. Turn Time Discharge 18. NOR at Load port 19. NOR at Discharge 20. Agents at load port 21. Agents at discharge port 22. Address Commission 23. Brokerage Delete italics where appropriate. It is mutually agreed that this Contract shall be performed subject to the conditions contained in the Charter Party attached. In the event of a conflict of conditions, the provisions of this face page note shall prevail over those in the Charter Party attached. Signature (Owners) Signature (Charterers)

2 Appendix A VESSEL S DESCRIPTION AND OTHER DETAILS Name: Previous Names: Callsign/Telex/Fax/Immarisat numbers: / Type of Vessel: Date of Build Shipyard where built Flag: Classed: at : DWAT: on summer salt water draft LOA : Beam : moulded Depth TPC/TPI : Number of holds & hatches : Vessel s Ballast holds (sea/port): Airdraft (Distance from waterline to top of hatch coaming) in Normal Ballast condition: Fully laden condition: Type of Hatchcovers: Hatch dimensions in main deck (and tween deck if applicable) : P&I Club and current Hull & Machinery value: Applicable to Handysize and geared Panamax Vessels : Number & Type and manufacturer of cargo gear: Capacity of gear under hook: Is vessel grabs fitted (yes/no): (if applicable type of grabs and capacity) : Flat tanktop dimensions in metres: Tanktop strength in metric tons per square metre: Can vessel s hold ladders be continually accessed from the holds between a height of 3-5 metres above the tanktop? Grain and Bale Capacities total and per hold (CBM) (plus Hatchcoamings if Capesize/Panamax/OBO/Orecarrier) : Normal Operating speeds in ballast and laden: Applicable to Very Large, Capesize and Panamax Bulkcarriers, Orecarriers and OBOs. Dunkirk East Suitable: Redcar suitable: Vessel is/is not described as being self trimming

3 Appendix B Banking Details Beneficiary s Name Address Post Code City Country Account Number (USD Acct) Beneficiary Bank Address Postal Code City Country Sort Code/ABA etc Swift Code Intermediate Bank Address Post Code City Country Sort Code/ABA etc Swift Code

4 1 1.It is this day mutually agreed between the party mentioned in Box 2 as Owners/Disponent Owner/ Time Charter Owner 2 (hereinafter called Owner) of the Vessel named in Box 4, classed Lloyds A1 (or equivalent at a classification society that 3 is a member or the International Association of Classification Societies), described in Box 5&6 and further detailed per 4 Appendix A and the party mentioned in Box 3 as Charterers that: The said Vessel being warranted tight, staunch, strong and in every way fitted for the voyage, shall after delivery of her 7 previous cargo, proceed with all convenient speed to the loading port(s) or place(s) stated in Box 8 and there load always afloat 8 as directed by Charterer or its designated representatives, cargo as stated in Box10, not exceeding what she can reasonably stow 9 and carry and being so loaded, shall with all convenient speed proceed to the discharging port(s) or place(s) stated in Box 9 and 10 there delivery the cargo, always afloat as directed by Charterer or their designated representatives Cargo is always to be loaded, carried and discharged in accordance with the rules and requirements of IMO Freight Rate 15 Freight, inclusive of all port charges, pilotages, light dues and all other dues usually paid by Vessels, shall be paid at the rate 16 stated in Box Initial freight Payment 19 Charterer shall pay freight on Bill of Lading weight in United States Dollars to Owners account as per Appendix B percent of Bill of Lading quantity shall be paid within 5 banking days of signing and releasing freight prepaid/freight 22 payable as per charter party, at charterers option, Bills of Lading. Discountless and non-returnable whether the Vessel and/or 23 cargo is lost or not lost The balance of freight, together with settlement of despatch and/or demurrage if applicable, shall be paid within seven days 26 after right and true delivery of the cargo and of surrender and agreement of time sheets, statement of facts and signed notice of 27 readiness with owners calculations of any demurrage or dispatch incurred at the loading and discharging ports Settlement of balance of freight/demurrage 30 Freight shall be finalised on the basis of the Bill of Lading quantity and the balance of freight shall be settled as per Clause Bills of Lading 33 The Master shall authorise the agents at load port to sign and release on his behalf three negotiable Bills of Lading or non 34 negotiable Seaway Bills if requested by charterer, at any time the Charterers or Shippers request this for any quantity loaded up 35 to that time. Shippers weights in accordance with the shore scales/tally/weighbridge/draft survey at the loading port shall be 36 accepted as tonnage shipped and Mate s receipts shall be drawn up accordingly. Bills of Lading or Seaway Bills are always to 37 be drawn up in conformity with the Mate s Receipts. Upon completion of loading Owners shall release three negotiable Bills of 38 Lading or non negotiable Seaway Bills, claused Freight Prepaid or at Charterers option Freight Payable as per Charter 39 Party, to shippers or their representatives Laydays and cancellation 42 Time for loading shall not commence before Laycan commencement as per Box Charterer has the right to cancel this Charter party should there be any material misrepresentation made by Owner in respect of 44 the Vessel s particulars, the Vessel s suitability to perform the voyage, the Vessel s position and/or itinerary or should the 45 Vessel not have tendered Notice of Readiness in accordance with Clause 10 on or before the Laycan cancelling as per Box Loading terms 49 The cargo shall be loaded at the average rate stated in Box 13 per weather working day of 24 consecutive hours. Time shall not 50 count for opening and closing of hatches at commencement and completion of loading at each port, even if Vessel is on 51 demurrage Discharging terms 1 January 2003

5 54 The cargo shall be discharged at the average rate stated in Box 15 per weather working day of 24 consecutive hours. Time shall 55 not count for opening and closing of hatches at commencement and completion of discharge at each port, even if Vessel is on 56 demurrage Tendering of Notice of Readiness at Load port(s) 58 Notice of Readiness (NOR) at load port shall be tendered in writing as per Box 18 after the Vessel has arrived and is in all 59 respects ready and in free pratique. If the loading berth or anchorage is unavailable at this time the Vessel may tender NOR 60 from the normal recognised waiting place designated by the Port Authority, even if outside the normal port limits and whether 61 or not the Vessel has been cleared by customs and/or quarantine authorities At load port Owners/Master are not to tender, nor are Charterers obliged to accept, Vessels NOR prior to commencement of 64 laycan, unless otherwise previously agreed Time for loading shall count as stated in Box 16 after NOR has been tendered and accepted by the Charterers In the event that Charterer or Shipper can arrange to load before time commences to count, Master shall allow work to be done, 69 in which case half actual time used to count. Time used by the Vessel in proceeding from waiting place or anchorage to loading 70 berth or anchorage and making ready for loading (including obtaining customs clearance and pratique) and any time lost before 71 berthing (after tendering NOR) due to delay to the Vessel, shall not count as laytime or time on demurrage unless such delay is 72 directly caused by action of the Charterer Tendering Notice of Readiness at Discharging port(s) 75 Notice of Readiness (NOR) at discharge port shall be tendered in writing as per Box 19 after the Vessel has arrived and is in all 76 respects ready and in free pratique. If the discharging berth or anchorage is unavailable at this time the Vessel may tender NOR 77 from the normal recognised waiting place designated by the Port Authority, even if outside the normal port limits and whether 78 or not the Vessel has been cleared by customs and/or quarantine authorities Time for discharging shall count as per Box 17 after NOR has been tendered and accepted by the Charterers. However in the 81 event that Charterer or Shipper can arrange to discharge before time commences to count, Master shall allow work to be done, 82 in which case half actual time used shall count. Time used by the Vessel in proceeding from waiting place or anchorage to 83 discharging berth or anchorage and making ready for discharging (including obtaining customs clearance and pratique) and any 84 time lost before berthing (after tendering NOR) due to delay to the Vessel, shall not count as laytime or time on demurrage 85 unless such delay is directly caused by action of the Charterer Laytime at additional ports 88 At the second (and subsequent) loading and/or discharging port(s) the Vessel shall tender NOR and laytime or time on 89 demurrage shall resume counting as per Clauses 10 and/or 11. Time counting at the second (and subsequent) loading and/or 90 discharging port(s) shall always be subject to the exceptions specified in Clause 8 and/or Shifting cost and time 93 If more than one berth or anchorage at any loading and discharging port has been agreed, shifting costs including bunkers 94 consumed shall be for Owners account. Time so used shall not count as laytime or time on demurrage Warping 97 The Vessel shall move along any one berth or installation, as reasonably required by the Charterer of Terminal Operator, solely 98 for the purpose of making any hatch or hatches available to the loading or discharging facilities at the berth or installation. All 99 costs onboard the Vessel including bunkers shall be for Owner s account. Time used for warping shall not count as laytime or 100 time on demurrage and warping to be done by vessels crew, where local regulations permit Demurrage and Despatch 103 Demurrage at the rate specified in Box 14 for laytime exceeded in loading and/or discharging shall be paid by Charterer. 104 Despatch at the rate specified in Box 14 for laytime saved in loading and/or discharging shall be paid by Owner. Settlement 2 January 2003

6 105 shall be in accordance with Clause 4. Laytime shall be non-reversible Overtime 107 All overtime expenses at loading and discharging port(s) shall be for account of the party ordering the overtime. If overtime is 108 ordered by port authorities or the party controlling the loading or discharging terminal or facility, such expenses shall be for 109 Charterer s account. Overtime expenses for the Vessel s officers and crew shall always be for Owner s account Stevedoring 112 Provided the cargo is not being loaded or discharged under Liner terms as per Clause 8 & 9, it shall be loaded, stowed, secured 113 or spout/dump/machine trimmed and discharge free of risk to the Vessel and to the Master s satisfaction in respect of 114 seaworthiness. Whilst stevedores at loading and discharging ports are to be appointed and paid for by Shipper, Receiver or 115 Charterer, but shall work under the supervision of the Master If it is required by the custom of the port, the Vessel s crew shall operate free of expense to Charterer the Vessel s cargo gear, 118 if fitted, to load and unload mechanical equipment used in bulk cargo operations. If Charterer requires it and local regulations 119 permit, crew are to carry out cargo handling operations Lighterage 122 Charterer has the option to load from barges sent alongside and/or discharge into barges sent alongside. Lighterage, if any, shall 123 be at Charterer s risk and expense, including such fendering necessary for safe operations Hold Cleanliness 126 At the loading port(s) the Vessel s holds shall be suitable in all respects (which shall include a gas-free certificate if the Vessel 127 is a combination carrier) to receive the cargo to be loaded under this Charter Party to the satisfaction of an independent 128 surveyor and/or such recognised local authority as the regulations or Shippers may require. If the Vessels holds are found to be 129 unsuitable, any time lost until the Vessel is accepted and is ready in all respects as if the Vessel has not originally been rejected 130 to load, shall not count as laytime or as time on demurrage. Any expenses directly attributable thereto including but not limited 131 to standby of trucks, labour and mechanical equipment shall be for Owner s account Hold accessibility 134 Vessel s holds and tank tops shall be suitable for the utilisation of grabs and any other mechanical equipment used in loading 135 and discharging operations. No cargo shall be loaded in any space which is inaccessible or unsuitable for such equipment Lighting 138 The Vessel shall give, free of expense to Charterer, full use of her lighting on deck and in the cargo compartments which shall 139 be adequate for all cargo operations Vessel deficiencies 142 In the event of a deficiency affecting the Vessels ability to ballast and de-ballast or any other equipment, required for the 143 loading and discharging operations, any time lost not to count as laytime or time on demurrage. All costs and expenses incurred 144 as a result of any such deficiency shall be for Owners account Trading certificates 147 Owners warrant that throughout the term of this Charter the Vessel shall be in all respects eligible under applicable 148 conventions, laws and regulations for inspection by the appropriate authorities all certificates, records, compliance letters and 149 other documents required for such services, including but not limited to certificates of financial responsibility for pollution International & local regulations 152 The Vessel shall comply with all applicable international laws and regulations, local laws and Regulations at any port of call 153 under this Charter Party. All time lost by reason of the relevant Authority declaring the Vessel to be in non-compliance with 154 any of the fore mentioned shall not count as laytime or as time on demurrage and any expenses directly attributable thereto 155 including but not limed to standby of trucks, labour and mechanical equipment shall be for Owner s account Restrictions, routeing & rotation. 3 January 2003

7 158 The Vessel shall proceed to the first or sole discharging port via the most direct route unless other wise agreed Loading port and discharging port rotation shall be in Owners option unless otherwise agreed Prior to arrival at loading and discharging port(s) Owners and Master to be solely responsible to determine the applicable size, 163 draft, length, beam and air draft limitations and any other restrictions Transfer 165 Charterer shall have the privilege of transferring part or whole of this Charter Party to others, guaranteeing to Owner due 166 fulfillment of this Charter Party Notices 169 Owner or Master shall tender 20/15/10 day approximate notices, followed by 7/5/3/2/1 days definite notices of Vessels 170 expected time of arrival (ETA) at the loading port(s) to the agents and Charterer Owners or Master shall tender 20/15/10 days approximate notices, followed by 7/5/3/2/1 days definite notices of Vessels 173 expected time of arrival (ETA) at the discharge port(s) to the agents and Charterer Charterers are to be kept advised of any alteration in the Vessels expected readiness to load or discharge Should Owner and/or Master fail to give any of the definite notices, then 24 hours shall be added to the allowed laytime for 178 each failure by Owner and the Master to do so Agents 181 The Vessel shall be consigned to Charterers nominated agents as specified in Box 20 at load port and Box 21 at discharge port, 182 unless otherwise agreed, Owners paying customary fees Draft survey 185 If a draft survey is required to establish the Bill of Lading weight as per clause 6, Charterer, Shipper or Receiver shall appoint 186 and pay for the surveyor. Time used for the draft survey shall not count as laytime or time on demurrage While the surveyor is taking draft readings and/or tank soundings, Master is not to take on or pump ballast at load and 189 discharge ports without obtaining permission of the Charterers, and vessel is not to take on, release or switch from one tank or 190 other compartments to another any ballast, fresh water or fuel oil Non-presentation of Bills of Lading 193 If requested by Charterer, the Master shall release all or part of the cargo at the discharging port(s) without presentation of 194 original Bills of Lading. Prior to discharge Charterer shall provide Owner a Letter of Indemnity as per the Owner s P&I club 195 form but without a bank guarantee. Such Letter of Indemnity shall automatically become null and void and to be promptly 196 returned to Charterers upon presentation of the original Bill of Lading to Owner or Master Change of Ownership/Management 199 The vessel shall not change ownership, flag, class, technical and/or crew management during the currency of this voyage 200 without the Charterer s prior approval which shall not be withheld unreasonably If and when a request for approval of a change in flag, manager etc is received from an owner, the proposed new owners and/or 203 managers shall be assessed by the vetting officer prior to the Charterers approval being granted ITF and Boycott 206 Owner guarantee that the present terms and conditions of employment of the crew comply with an ITF Agreement or a bona 207 fide Trade Union Agreement that is acceptable to the ITF and their representatives and will remain so for the duration of this 208 Charter. In the event of loss of time and/or extra expenses incurred due to boycott of the Vessel (whether actual or threatened) 4 January 2003

8 209 and/or dispute with labour because of the Vessel s flag or nationality of the Owner, Master, Officers or Crew are employed, 210 such time shall not count nor shall demurrage accrue and such extra expenses shall be for Owners account Strike clause 213 Time lost in loading and/or discharging by reason of any of the following causes shall not be computed in the laytime or time 214 on demurrage: strikes, lockouts or stoppages of personnel connected with mining, production, port or facility services or any 215 transport and/or handling of the cargo whether inland or at the port or facility. Furthermore, Charterer, Shipper and/or Receiver 216 shall not be liable or otherwise responsible for delays in loading and/or discharging the Vessel if prevented by any of the 217 foregoing causes If there is a strike, lockout or stoppage, as defined above, at the loading port or facility prior to the Vessel s arrival there, the 220 Owners may request from Charterer a declaration as to whether Charterer agrees to maintain the voyage calculating laytime as 221 if there were no strike, lockout or stoppages. If Charterer has not made such a declaration within 48 hours (excluding 222 weekends) of such request Owners then has the option of canceling the voyage without any liability to Owner or Charterer The Owners shall have the liberty to sail from a loading port or loading facility affected by strike, lockout or stoppage as 225 defined above, without the cargo or sail with any cargo forming part of the intended shipment on expiry of 48 hours notice of 226 Owner s intention to do so which in any case shall not be declared by Owner until at least 72 hours have elapsed since the 227 Vessel s arrival at or off the port or facility so affected. The Owner s 48hour notice shall be invalidated by the cessation of the 228 strike, lockout or stoppage within this office period. If the Vessel sails with part of the intended shipment Charterers shall pay 229 freight only on the cargo quantity actually loaded and Owners shall have liberty to complete with other cargo en-route for their 230 own account Exceptions 233 The Owners shall not be liable to Charterers, nor will the Charterers be liable to Owners, for any delay or failure in the 234 performance of obligations hereunder, if such failure or delay is due to or results from an act of war or the anticipated 235 imminence thereof, between any national body(s); restraints of rulers, governments, or people; legislation, decrees, orders, 236 regulations or the like in the country of origin or of vessel's flag; blockade, sanctions, civil commotion, political disturbances, 237 strike and lockouts, industrial disturbances, breakdowns, accidents, or stoppages whether total or partial, at ports, on railways, 238 or other means of transport to or from the ports; epidemics; quarantine; Act(s) of God; weather (including drought, fog, frosts, 239 floods, snow, storms, tempest or washaways) or any financial impecuniosity s of Charterers intended Buyers or other related 240 default/s, in circumstances where, if relevant, alternative cargos are not (in Charterers' discretion) commercially attainable or 241 any other event or occurrence of any nature or kind whatsoever beyond the reasonable control of the Owners or Charterers. 242 The party whose performance of any obligation is directly affected, or who has reason to believe such performance may be 243 affected, by reason of any of the causes referred to above shall, as promptly as possible, give notice thereof to the other party 244 concerned in writing, and shall also within ten (10) days thereafter notify the other party concerned, in writing, of particulars of 245 the relevant event and supply supporting evidence. 246 Should any of the circumstances detailed above lead to delays up to fifteen (15) days in duration, for any of the contracted 247 cargo(s), then either the Charterers or Owners, shall take reasonable steps to make good and resume with the least possible 248 delay, compliance with their obligations under this Charter Party. 249 Should any of the circumstances detailed above lead to delays in excess of fifteen (15) days, for any of the contracted cargo(es), 250 then either the Charterers or Owners, shall have the right to cancel this contract with fifteen (15) days written notice, without 251 liability to either party; alternatively by mutual agreement, the contract shall be suspended for the period so affected and 252 Owners and Charterers shall negotiate and so decide whether terms of the Contract shall be extended beyond the original term 253 by the period of suspension hereof. 254 If the cumulative Force Majeure events in any contract year total more than thirty (30) days, the Charterer shall have the right 255 to reduce the contractual number of shipments to be performed in that contractual year Taxes and Dues 258 Owners shall pay all dues, charges and taxes customarily levied on the Vessel including, any income or freight tax applicable at 259 loading port or country, howsoever the amount thereof may be assessed, as well as taxes levied on the freight. Charterer shall 260 pay all dues, charges, duties and taxes customarily levied on the cargo, howsoever the amount thereof may be assessed. Owners 261 shall pay all canal, lock, seaway and any other waterway tolls, dues and charges, howsoever the amount thereof is assessed. 5 January 2003

9 Extra insurance 264 Extra insurance on the Vessel and/or cargo on account of the Vessel s ownership, flag, classification, or age to be for Owners 265 account. Charterers may elect to deduct extra insurance on the cargo from payment of freight, in which case Charterers shall. 266 furnish evidence of payment support such deduction Stevedore damage 269 At loading and discharging ports, any stevedore damage to the ship shall be settled between Owner and Stevedores. However, 270 Charterer shall render every assistance to Owner in the pursuit of their claim against the Stevedores for settlement of damage to 271 the Vessel caused by the Stevedores Drydocking 274 The Vessel shall not be dry-docked during the currency of this Charter Party except in case of emergency Deviation 277 The Vessel shall have the liberty to deviate for the purpose of saving life or property, with leave to sail without Pilots, tow or to 278 be towed and assist Vessels or to be assisted. Salvage shall be for Owner s sole benefit Bunkering 280 The Vessel shall have liberty as part of the contract voyage to proceed to any port or ports at which fuel is available for the 281 purpose of bunkering at any stage of the voyage whatsoever and whether such ports are on or off the direct and/or customary 282 route or routes between any of the loading or discharging ports named in this Charter Party, and may there take fuel in any 283 quantity in the discretion of Owner even to the full capacity of the fuel tanks and deep tanks or any other compartment in which 284 fuel can be carried, whether such amount is required or is not for the chartered voyage Lien & Cesser 287 All liability of the Charterer shall cease on completion of loading except for payment of freight, deadfreight and/or demurrage. 288 Owner has a lien on cargo for freight, deadfreight and/or demurrage Protection & Indemnity (P&I) cover and Hull & Machinery Insurance. 291 Owner warrants that the Vessel is entered with a P&I Club for full coverage and that the Vessel s hull and machinery is fully 292 insured and shall remain so for the duration of the Charter Pollution Indemnity 295 Owners agrees to indemnify Charterers, their agents, or any other party against any liabilities which may be imposed on them 296 or which they may incur under any statute regarding liability for pollution of waters by oil or other substances, by reason of any 297 contravention of such statute by the Vessel, the Master or any servant or agent of the Owners provided that such contravention 298 shall not have been caused or contributed to by the party seeking to be indemnified under this Charter Party. Owner warrants 299 that the Vessel is entered in a P&I Club with cover for liabilities arising out of any contravention as aforesaid. Laytime shall not 300 count nor shall demurrage accrue for any time lost through non-conformity with the above Health and Safety 303 Owner shall have on board the Vessel an effective occupational health and safety policy with the objective that due care and 304 attention is given by crew members to safe working practices in all operations pertaining to the Vessel. Owner shall have a 305 policy regarding drug and alcohol abuse onboard the Vessel with the objective that no crewmember will navigate the Vessel or 306 operate its onboard equipment whilst impaired by drugs or alcohol. The policy will also have the objective of strictly 307 prohibiting the possession, use, transport and distribution of illicit or non-prescribed drugs by crewmembers. Owners shall 308 exercise due diligence throughout the currency of this Charter to ensure that such policies are complied with Inspection 311 Charterer or their representative shall be allowed to inspect the Vessel in port at any reasonable time provided that loading or 312 discharging operations are not affected. This inspection will be to assess the Vessel s quality of maintenance and other 313 operational standards. Master and crew shall extend all reasonable assistance and co-operation to the Charterer or their 6 January 2003

10 314 representative. Upon request, Owners/Master to make available the Vessels logs for inspection by Charterers or their 315 representative Bimco ISM Clause 318 From the date of coming into force of the International Safety Management (ISM) Code in relation to the Vessel and thereafter 319 during the currency of this Charter Party, the Owners shall procure that both the Vessel and the Company (as defined by the 320 ISM Code) shall comply with the requirements of the ISM Code. Upon request the Owners shall provide a copy of the relevant 321 Document of Compliance (DOC) and Safety Management Certificate (SMC) to the Charterer Except as otherwise provided in this Charter Party, loss, damage, expense or delay caused by failure on the part of the Owner or 324 the Company to comply with the ISM Code shall be for the Owners account Protective clauses 327 Clauses 48 to 51 shall also be incorporated into this charter party and all Bills of Lading issued hereunder Clause 48 General Clause Paramount as published by Bimco, 330 Clause 49 Both to Blame Collision Clause as published by Bimco, 331 Clause 50 New Jason Clause as published by Bimco. 332 Clause 51 Voywar 93 Clause as published by Bimco General Average 335 Any General Average occurring under this Charter Party is to be adjusted, stated and settled in London according to York- 336 Antwerp Rules, 1994 and any subsequent amendments thereto, according to English Law and practice Ice Clause 338 The Gencon General Ice Clause (as published by Bimco) shall be deemed to be fully incorporated in and shall form part of 339 this Charter Party Arbitration 342 a) Any dispute arising out of this Charter Party or any Bill of Lading issued hereunder shall be referred to arbitration in 343 London in accordance with the Arbitration Act 1996 and any statutory modification or re-enactment in force. English law 344 shall apply. Upon receipt of the nomination in writing of the claimant s arbitrator, the party receiving the nomination shall 345 appoint its arbitrator within fourteen days, failing which the dispute shall be determined by the single arbitrator. If both 346 parties each appoint an arbitrator and those arbitrators do not agree, they shall appoint an umpire whose decision shall be 347 in final and binding If the amount in dispute is less than US$ 50, the matter shall be referred to a sole arbitration in accordance with the 350 L.M.A.A. small claims procedures b) The arbitrators and umpire shall be commercial persons normally engaged in the shipping industry. Any claim must be 353 made in writing and the claimant s arbitrator nominated within twelve months of the final discharge of the cargo under this 354 Charter Party, failing which any such claim shall be deemed to be waived and absolutely barred Commissions 357 An address commission as stated in Box 22 on the gross amount of freight, deadfreight and/or demurrage shall be deducted by 358 Charterer upon payment of same. Brokerage as stated in Box 23 on the freight, deadfreight and/or demurrage shall be due to the 359 broker named in Box 23 upon payment of same and is payable by the Owner Attachments 362 The BHP Billiton Vetting questionnaire duly completed by Owners for the performing vessel, Appendices A, B and Rider 363 clauses 57 to as attached are deemed to be fully incorporated in the Charter Party and to form part of it January 2003

11 OWNER : CHARTERER : 8 January 2003