Date BIMCO Standard Gas Voyage Charter Party

For the LPG, Ammonia and Liquefied

First issued by BIMCO in 1972.

Petrochemical Gas Trades

Code Name: GASVOY 2005 PART I
Owners Charterers

Name Name
Revised 2005

Address Address

Tel., Fax, E-mail Tel., Fax, E-mail

A. Vessel Details

Name Flag Built/Year

Classification Society Classed Summer Draft

CBM (100%) LOA Beam

B. Cargo

Grade

Quantity

Temperature

Pressure

C. Presentation
Last Cargo

D. Loading Range/Place(s)
If Range, Place(s) declarable prior to

E. Discharge Range/Place(s)
If Range, Place(s) declarable prior to

F. Laydays/Cancelling date

G. (i) Freight Rate

(ii) Payment Details

(iii) Payable Before Breaking Bulk or On Delivery (state which applies)

H. Laytime (SHINC)

I. Demurrage Rate

/ Day

J. Commission

K. Dispute Resolution (a) English Law/London Arbitration*

(b) US Law/New York Arbitration*
(c) Law and Place of Arbitration as agreed*
As per Clause 29 of PART II
* Tick X Box (a), (b) or (c) to indicate choice.
If Box (c) is selected, state law and place of arbitration:

L. The Charter Party Administration Clause as per Clause 31 shall NOT apply unless the parties have ticked this box
Copyright, published by

M. Additional Clauses numbered to as attached shall form an integral part of PART I

BIMCO, Copenhagen

It is mutually agreed that this Charter Party shall be performed subject to the terms and conditions contained in PART I as well as PART II of GASVOY 2005 Charter Party
as attached hereto. In the event of a conflict, the provisions of PART I shall prevail over those of PART II to the extent of such conflict.

Signature (Owners) Signature (Charterers)

Printed and sold by Fr. G. Knudtzons Bogtrykkeri A/S, Vallensbaekvej 61, DK-2625 Vallensbaek. Fax: +45 4366 0708
 PART II
GASVOY 2005 Gas Voyage Charter Party - for the LPG, Ammonia and Liquefied Petrochemical Gas Trades

1. Warranty 1 option of cancelling this Charter Party within 24 hours 65

The Vessel’s class as specified in PART I shall be 2 after such cancelling date. 66
maintained during the currency of this Charter Party, 3 (c) If it appears that the Vessel will be delayed beyond 67
and the Owners shall before and at the beginning of 4 the cancelling date, the Owners shall, as soon as they 68
the loaded voyage exercise due diligence to make the 5 are in a position to state with reasonable certainty the 69
Vessel seaworthy and in every way fit for the voyage, 6 day on which the Vessel should be ready, give notice 70
with her cargo systems tight, staunch, strong and in 7 thereof to the Charterers asking whether they will 71
good order and condition and with a full and efficient 8 exercise their option of cancelling, and the option must 72
complement of Master, officers and crew for a vessel 9 then be declared within forty-eight (48) hours of the 73
of her type, tonnage and flag. 10 receipt by the Charterers of such notice. If the Charterers 74
do not then exercise their option of cancelling, the third 75
2. Voyage 11 day after the readiness date stated in the Owners’ notice 76
(a) The Vessel shall proceed with due despatch as 12 shall be regarded as the new cancelling date for the 77
soon as her prior commitments are completed to the 13 purpose of this Clause. 78
safe loading port(s) or, if not a port, the safe loading 14
place(s) nominated by the Charterers within the limits 15 6. Notice of Readiness 79
specified in PART I. 16 Upon arrival at the customary anchorage at each port 80
(b) The Charterers shall nominate loading port(s)/ 17 or place of loading or discharge, the Master or his agent 81
place(s), cargo grade(s) and quantities in accordance 18 shall give the Charterers or their agents written notice 82
with PART I as early as possible but in all cases providing 19 at any time day or night, Sundays (or their local 83
sufficient time to the Owners/Master to comply therewith. 20 equivalent) and holidays included, that the Vessel is 84
(c) At the loading port(s)/place(s) so nominated the 21 ready at the load port or place, as required by PART I, 85
Vessel shall load the cargo as described in PART I. 22 to load cargo or ready at the discharge port or place to 86
(d) (i) The Vessel being so loaded shall proceed to 23 discharge cargo, berth or no berth. If the port authorities 87
the safe discharging port(s) or, if not a port, the 24 prohibit the Vessel from proceeding to the customary 88
safe discharging place(s) as ordered by the 25 anchorage due to congestion or other reasons, or if the 89
Charterers. 26 Master deems it unsafe for the Vessel to proceed to the 90
(ii) The Charterers’ orders shall be given in accor- 27 customary anchorage, then the Master or his agent may 91
dance with PART I and shall be consistent with 28 tender Notice of Readiness from a place as close to 92
bill(s) of lading. 29 the customary anchorage as the Vessel can safely get. 93
(e) The Charterers shall be responsible for providing 30
the Owners with detailed discharging orders as early 31 7. Laytime 94
as possible but in all cases providing sufficient time to 32 (a) The running hours specified in PART I shall be 95
the Owners/Master to comply therewith without causing 33 allowed to the Charterers for the loading and discharging 96
delay to and/or deviation of the Vessel. 34 of the cargo and other Charterers’ purposes connected 97
(f) At the nominated loading and discharging port(s) 35 therewith, including the use of the cargo re-heater and/ 98
or place(s) the Vessel shall proceed to any safe berth, 36 or booster pump, if available. 99
dock, anchorage, submarine line, alongside a vessel 37 (b) (i) The Charterers shall have the right of loading 100
or vessels or lighter or lighters, as ordered by the 38 or discharging during the night, paying all extra 101
Charterers or so near thereto as the Vessel may safely 39 expenses incurred ashore. 102
get, lie and depart from, always afloat. 40 (ii) If the Charterers, suppliers, consignees or the 103
regulations of the port authorities prohibit loading 104
3. Delay in giving Loading/Discharging Orders 41 or discharging at night, time so lost shall count as 105
Any expenses incurred by the Owners by reason of the 42 laytime. 106
Charterers’ failure to nominate loading/discharging 43 (c) Where for the purposes of calculating the allowed 107
port(s) or place(s) or to furnish loading/discharging 44 laytime the discharge rate is expressed in metric tons 108
orders in accordance with Clause 2 shall be reimbursed 45 per hour, the Owners shall not be deemed to have 109
by the Charterers who shall also pay, on receipt of the 46 warranted or guaranteed this discharge rate. 110
Owners’ invoice, for each day of delay or pro rata 47
thereby lost by the Vessel at the demurrage rate 48 8. Commencement of Laytime 111
specified in PART I, as well as the cost of any additional 49 (a) Laytime shall commence at each loading and 112
bunkers consumed as a result of deviation. 50 discharging port or place either: 113
(i) at the expiration of six (6) hours notice time after 114
4. Presentation 51 the tendering of Notice of Readiness, or 115
The Vessel shall present at the loading port in conformity 52 (ii) immediately upon completion of mooring at the 116
with the stipulations in PART I with cargo systems to 53 loading or discharging place designated under 117
the satisfaction of the Charterers’ Inspector, which shall 54 Clause 2, 118
not be unreasonably withheld. If the cargo systems are 55 with or without notice, whichever first occurs, but in any 119
in conformity with the stipulations as provided in PART 56 event laytime shall not commence before 0001 on the 120
I, the Vessel shall be deemed ready immediately for 57 first layday. 121
the purpose of this Clause and Clause 6. 58 (b) Notwithstanding anything else in this Clause 8, if 122
the Charterers agree to load before the first layday, 123
5. Laydays and Cancelling Date 59 laytime shall run from commencement of loading, and 124
(a) The opening of laydays shall be the date specified 60 all time accrued prior to the opening of laydays shall be 125
in PART I. 61 credited to waiting time, if any, prior berthing at first 126
(b) If the Vessel is not ready to load, in accordance 62 discharging port. Notwithstanding the Charterers’ 127
with Clause 6, by midnight local time on the cancelling 63 agreement to early loading, if mooring is not completed 128
date specified in PART I, the Charterers shall have the 64 prior to the opening of laydays then laytime shall 129
 PART II
GASVOY 2005 Gas Voyage Charter Party - for the LPG, Ammonia and Liquefied Petrochemical Gas Trades

commence in accordance with the provisions of this 130 10. Cessation of Laytime/Demurrage 197
Clause 8. 131 Time shall continue to count as laytime or, if Vessel is 198
on demurrage, time on demurrage, until the hoses and/ 199
9. Laytime/Demurrage Exceptions 132 or connections have been disconnected or until all 200
(a) Time shall not count as laytime or demurrage if 133 necessary cargo documents have been received on 201
lost for any of the following reasons: 134 board, whichever is the later. 202
(i) Moving from the place of waiting to the first 135
loading/discharging berth/place; 136 11. Demurrage Payment(s) 203
(ii) As a result of a boycott arising in connection with 137 The Charterers shall pay demurrage at the daily rate 204
the business of the Owners; the terms or 138 specified in PART I or pro rata for part thereof after the 205
conditions of employment of the Owners’ 139 expiry of the laytime specified in PART I for all time by 206
servants; or employment, trades, or cargoes of 140 which the loading and discharging time and used laytime 207
the Vessel other than under this Charter Party; or 141 exceeds the allowed laytime as specified in PART I. 208
any delay caused by strike or lockout of the 142 Payment of demurrage to be made in the same manner 209
Master, officers or crew.; 143 as stated in PART I for the payment of freight and such 210
(iii) Due to restraint or interference in the Vessel’s 144 payment will be due from Charterers day by day. 211
operation by any governmental authority in 145 Undisputed demurrage will be paid promptly on receipt 212
connection with the ownership, registration, or 146 of the Owners’ invoice and the Charterers shall also 213
obligations of the Owners or the Vessel, or in 147 present promptly their reasons for disputing the balance. 214
connection with stowaways or with smuggling or 148 Such balance of disputed demurrage, if any, shall be 215
other prohibited activities of the Owners’ servants, 149 discussed and settled soonest thereafter. 216
unless such restraint or interference involves the 150 Demurrage time bar - Demurrage claims, if any, shall 217
cargo under this Charter Party, or the Charterers, 151 be presented to the Charterers not later than 90 days 218
or the shippers or receivers of the cargo and their 152 after completion of discharge with available supporting 219
servants and agents under this Charter Party; 153 documents. Any demurrage claim received later than 220
(iv) Due to break-down, inefficiency, repairs or any 154 90 days shall be considered null and void by both 221
other conditions attributable to the Vessel, Master, 155 parties. 222
crew and/or Owners; 156
(v) Due to ballasting/de-ballasting. 157 12. Loading and Discharging 223
(vi) Due to the Vessel’s failure to have on board a 158 The cargo shall be pumped into the Vessel at the 224
certificate, record, or other document required for 159 expense of and at the risk and peril of the Charterers 225
trading to the loading and discharge ports. 160 as far as the Vessel’s permanent manifold connections 226
(b) Unless otherwise agreed in PART I, time used for 161 only, and shall be pumped out of the Vessel at the 227
purging of tanks and/or gassing-up and/or cooling-down 162 expense of and at the risk and peril of the Owners as 228
shall not count as laytime or demurrage unless such 163 far as the Vessel’s permanent manifold connections 229
operations are performed by order of the Charterers 164 only, where delivery of the cargo shall be deemed to 230
and/or for their account. 165 have taken place. 231
(c) Delays in berthing for loading or discharging and 166 Hoses and/or connections for loading and discharging 232
any delays after berthing which are due to weather 167 shall be furnished by the Charterers and shall be 233
conditions shall count as one half laytime or, if on 168 connected and disconnected by the Charterers or, at 234
demurrage, at one half demurrage rate. 169 the Charterers’ request, by the Owners, in either case 235
(d) If, after tendering notice of readiness, the Vessel 170 always at the Charterers’ risk and expense. 236
is nevertheless found not to be in all respects ready to 171 The Vessel shall provide its pumps and the necessary 237
load/discharge, the actual time lost thereafter until the 172 power, as well as the necessary personnel, for 238
Vessel is in fact ready to load/discharge shall not count 173 discharging in all ports. 239
as laytime or, if the Vessel is already on demurrage, as 174 The Charterers to provide loading and discharging 240
time on demurrage. 175 installations always with suitable and adequate facilities 241
(e) If demurrage accrues at port(s) or place(s) of 176 allowing the loading and discharging of the cargo 242
loading or discharging by reason of strike or lockout 177 specified in PART I. 243
preventing or delaying the Vessel from entering the port 178 The Owners shall allow, if available, the use of the 244
or place of loading or discharging or from loading or 179 Vessel’s cargo re-heater and/or booster pump, and, if 245
discharging the cargo, or by reason of fire or explosion 180 available, the use on board of reducers and/or spool 246
or breakdown of the shore machinery of the Charterers 181 pieces, if needed by the Charterers. 247
or their agents not resulting from negligence on their 182
part or on the part of their servants or agents, the rate 183 13. Freight Payment 248
of demurrage shall be reduced to one-half for any 184 Freight shall be paid at the rate specified in Box G(i) 249
demurrage thereby incurred. However, in case of delay 185 and calculated on the bill of lading quantity of cargo. 250
to the Vessel caused by any such strike, lock-out, fire, 186 Freight shall be due and payable by the Charterers (a) 251
explosion or breakdown, commencing or occurring after 187 before breaking bulk* or (b) on delivery* and shall be 252
expiry of the laytime, the full demurrage rate shall apply. 188 paid as specified in Box G(ii) by telegraphic transfer, 253
(f) If at time of nomination quarantine is in force at 189 without discount. 254
the nominated port or place of loading or discharging, 190 *) (a) and (b) are alternatives. State alternative in Box 255
or if quarantine comes into force whilst the Vessel is on 191 G(iii). If Box G(iii) is not appropriately filled in or left 256
demurrage, any time thereby lost by the Vessel shall 192 blank, alternative (b) shall apply by default. 257
be paid for by Charterers at the demurrage rate specified 193
in PART I. If, however, quarantine comes into force at 194 14. Deadfreight and Seaworthy Trim 258
such port or place after nomination half the time lost 195 (a) Should the Charterers or their agents fail to supply 259
shall count as laytime or demurrage. 196 a cargo quantity as specified in PART I, deadfreight 260
 PART II
GASVOY 2005 Gas Voyage Charter Party - for the LPG, Ammonia and Liquefied Petrochemical Gas Trades

shall be payable in the manner specified for payment 261 expenses resulting from such inspection shall be for 325
of freight in PART I on the difference between the bill of 262 the Charterers’ account. 326
lading quantity and the maximum cargo quantity 263 The Charterers shall ensure that adequate fendering 327
specified in PART I. However, the Charterers shall not 264 and hoses to the satisfaction of the Vessel’s Master are 328
be required to pay deadfreight in excess of the Vessel’s 265 provided. 329
full capacity intake based on the nominated grade(s). 266 Such operations to be carried out in conformity with the 330
(b) The Charterers shall leave the Vessel in a 267 provisions of the latest edition of the OCIMF/ICS Ship 331
seaworthy trim and with cargo on board safely stowed 268 to Ship Transfer Guide (liquefied gases) but in any case 332
to the Master’s satisfaction between berths and 269 lighterage operations always to be at the discretion of 333
between ports. 270 the Vessel’s Master and if the Master, at any time, 334
Any expenses resulting therefrom shall be for the 271 considers that lighterage operations are or become 335
Charterers’ account and any time lost shall count as 272 unsafe, then he may order them to be discontinued. All 336
laytime. 273 time used in lighterage operations, whether or not they 337
are discontinued, shall count as laytime or time on 338
15. Lien 274 demurrage. If the Owners are obliged to extend their 339
The Owners shall have a lien on the cargo and all sub- 275 existing insurance policies to cover lighterage 340
freights payable in respect of the cargo for freight, 276 operations or incur any other additional cost/expense, 341
deadfreight, demurrage, claims for damages and for 277 the Charterers shall reimburse the Owners for any 342
all other amounts due under this Charter Party including 278 additional premium or cost/expense incurred. 343
costs of recovering same. 279 The Charterers shall be responsible for all costs and 344
charges in respect of equipment needed to perform such 345
16. Dues, Wharfage, Taxes 280 lighterage operations, and shall obtain any and all 346
Save for those hereinafter mentioned, dues and other 281 relevant permissions from proper authorities to perform 347
charges levied against the Vessel shall be paid by the 282 lightering and all expenses in this connection shall also 348
Owners, and dues and other charges levied against 283 be for the Charterers’ account. 349
the cargo shall be paid by the Charterers. Without 284
prejudice to the foregoing, unless otherwise provided 285 19. Cargo Temperature 350
for under the terms of any freight rate(s) specified in 286 The Charterers shall supply, and the Vessel shall 351
PART I, the Owners shall not be liable for any wharfage, 287 discharge, the cargo at a temperature and/or pressure 352
dock dues, quay dues, habilitation taxes or other taxes, 288 as stated in PART I. 353
assessments or charges calculated on the basis of the 289
quantity of cargo loaded or discharged, or for Customs’ 290 20. Half Percent Loss 354
overtime, taxes on freight and any unusual taxes, 291 Where the Vessel/Owners are liable for loss or shortage 355
assessments or governmental charges in force at the 292 of cargo under this Charter Party or any bill(s) of lading 356
date of this Charter Party or becoming effective prior to 293 issued hereunder, they shall be responsible only for that 357
its completion, either on the Vessel or on the freight, 294 part of the loss or shortage that exceeds half of one 358
and whether or not measured by the quantity or volume 295 percent (0.5%) of the aggregated quantity stated in the 359
of the cargo. 296 Bill of Lading. 360
Furthermore, the Vessel/Owners’ liability for loss or 361
17. Shifting 297 shortage of cargo, if any, shall be limited to the 362
The Charterers shall have the right to load and/or 298 Charterers’ documented FOB price plus freight, if paid. 363
discharge at more than one location at each port on 299 The Vessel’s gauges shall be used for intake and outturn 364
payment of all expenses incurred in moving the Vessel 300 figures in order to determine any loss, such figures to 365
from the first to the second and any subsequent 301 be verified by an independent inspector. For the purpose 366
location(s), including any bunkers consumed whilst 302 of this Clause, the same density tables shall be used 367
shifting and any dues, costs or expenses incurred in 303 by the surveyors in determining loaded and discharged 368
excess of those which would have been incurred if all 304 quantities. 369
the cargo had been loaded or discharged at the first 305
location only. Time used in shifting between such 306 21. Deviation 370
locations shall count as laytime. 307 The Vessel shall have the liberty to proceed via any 371
route, to call at any port or ports whatsoever in any order 372
18. Lighterage 308 in or out of the route, to sail with or without pilots, to tow 373
Should the Charterers, pursuant to Clause 2, nominate 309 or be towed, and to deviate for the purpose of saving 374
loading and/or discharging by lighterage operations the 310 life or property or of landing any ill or injured person on 375
following provisions shall apply: 311 board or for bunkers or for any other reasonable 376
In the event lighterage is required, it shall be at the 312 purpose. The exercise of any liberty in this Clause shall 377
Charterers’ risk, cost and expense and the Charterers 313 form part of the agreed voyage. 378
shall provide a safe and protected area for the conduct 314
of such lighterage operation where the Vessel can safely 315 22. BIMCO General Ice Clause for Voyage Charter 379
proceed to, lie and depart from, always afloat but always 316 Parties 380
subject to the Master’s approval. 317 The Vessel shall not be obliged to force ice but, subject 381
The Charterers shall give the Owners at least 7 days 318 to the Owners’ approval having due regard to its size, 382
notice of commencement of such operation. The 319 construction and class, may follow ice-breakers. 383
lighterage vessel(s) involved are subject to the Owners’ 320 (a) Port of Loading 384
approval, which shall not be unreasonably withheld. 321 (i) If at any time after setting out on the approach 385
In the event that the Owners conduct a physical 322 voyage the Vessel’s passage is impeded by ice, 386
inspection of the intended lighterage vessel(s) prior to 323 or if on arrival the loading port is inaccessible by 387
giving approval, any reasonable delays, costs or 324 reason of ice, the Master or Owners shall notify 388
 PART II
GASVOY 2005 Gas Voyage Charter Party - for the LPG, Ammonia and Liquefied Petrochemical Gas Trades

the Charterers thereof and request them to 389 port(s) or place(s) of loading and discharging. 456
nominate a safe and accessible alternative port. 390
If the Charterers fail within 48 running hours, 391 24. Exception Clause 457
Sundays and holidays included, to make such 392 (a) (i) The Vessel, the Master and Owners shall not, 458
nomination or agree to reckon laytime as if the 393 unless otherwise provided in this Charter Party, 459
port named in the contract were accessible or 394 be responsible for any loss or damage, or delay 460
declare that they cancel the Charter Party, the 395 or failure in performing hereunder, arising or 461
Owners shall have the option of cancelling the 396 resulting from: any act, neglect or default of the 462
Charter Party. In the event of cancellation by either 397 Master, pilots, mariners or other servants of the 463
party, the Charterers shall compensate the 398 Owners in the navigation or management of the 464
Owners for all proven loss of earnings under this 399 Vessel; fire, unless caused by the personal act or 465
Charter Party. 400 neglect of the Owners; collision, stranding or peril, 466
(ii) If at any loading port the Master considers that 401 danger or accident of the sea or other navigable 467
there is a danger of the Vessel being frozen in, 402 waters; saving or attempting to save life or 468
and provided that the Master or Owners imme- 403 property; any act or omission of the Charterers 469
diately notify the Charterers thereof, the Vessel 404 or owner, shipper or consignee of the cargo, their 470
may leave with cargo loaded on board and proceed 405 agents or representatives; explosion, bursting of 471
to the nearest safe and ice free place and there 406 boilers, breakage of shafts, or any latent defect 472
await the Charterers’ nomination of a safe and 407 in hull, equipment or machinery; unseaworthiness 473
accessible alternative port within 24 running hours, 408 of the Vessel unless caused by want of due 474
Sundays and holidays excluded, of the Master’s 409 diligence on the part of the Owners to make the 475
or Owners’ notification. If the Charterers fail to 410 Vessel seaworthy or to have her properly manned, 476
nominate such alternative port, the Vessel may 411 equipped and supplied; or from any other cause 477
proceed to any port(s), whether or not on the 412 of whatsoever kind arising without the actual fault 478
customary route for the chartered voyage, to 413 or privity of the Owners. 479
complete with cargo for the Owners’ account. 414 (ii) Furthermore the Owners shall not be responsible 480
(b) Port of Discharge 415 for: 481
(i) If the voyage to the discharging port is impeded 416 (1) loss or damage arising from inherent defect, 482
by ice, or if on arrival the discharging port is 417 quality or vice of the cargo; 483
inaccessible by reason of ice, the Master or 418 (2) any admixture if more than one quality of gas 484
Owners shall notify the Charterers thereof. In such 419 is shipped outside of the Vessel’s natural 485
case, the Charterers shall have the option of 420 segregation; 486
keeping the Vessel waiting until the port is 421 (3) leakage, contamination, or deterioration in 487
accessible against paying compensation in an 422 quality of the cargo unless caused by unseawor- 488
amount equivalent to the rate of demurrage or of 423 thiness existing at the time of loading or at the 489
ordering the Vessel to a safe and accessible 424 inception of the voyage which was discoverable 490
alternative port. 425 by the exercise of due diligence, or error or fault 491
If the Charterers fail to make such declaration 426 of the servants of the Owners in the loading, care 492
within 48 running hours, Sundays and holidays 427 or discharge of the cargo; 493
included, of the Master or Owners having given 428 (4) barratry of Master, officers and crew. 494
notice to the Charterers, the Master may proceed 429 (b) Neither the Vessel nor Master or Owners, nor the 495
without further notice to the nearest safe and 430 Charterers, shall, unless otherwise in this Charter Party 496
accessible port and there discharge the cargo. 431 expressly provided, be responsible for any loss or 497
(ii) If at any discharging port the Master considers that 432 damage or delay or failure in performing hereunder, 498
there is a danger of the Vessel being frozen in, 433 arising or resulting from:- Act of God; act of war; act of 499
and provided that the Master or Owners immedi- 434 terrorism; perils of the seas; act of public enemies, 500
ately notify the Charterers thereof, the Vessel may 435 pirates or assailing thieves; arrest or restraint of princes, 501
leave with cargo remaining on board and proceed 436 rulers or people; or seizure under legal process provided 502
to the nearest safe and ice free place and there 437 bond is promptly furnished to release the Vessel or 503
await the Charterers’ nomination of a safe and 438 cargo; strike or lockout or stoppage or restraint of labour 504
accessible alternative port within 24 running hours, 439 from whatever cause, either partial or general; or riot or 505
Sundays and holidays excluded, of the Master’s 440 civil commotion. 506
or Owners’ notification. If the Charterers fail to 441 (c) This Clause and the exceptions contained herein 507
nominate such alternative port, the Vessel may pro- 442 shall apply at any time after the date of the Charter 508
ceed to the nearest safe and accessible port and 443 Party whether or not the approach voyage contemplated 509
there discharge the remaining cargo. 444 in Clause 2(a) herein has commenced. 510
(iii) On delivery of the cargo other than at the port(s) 445
named in the contract, all conditions of the Bill of 446 25. Bills of Lading 511
Lading shall apply and the Vessel shall receive 447 Bills of Lading are to be signed as presented without 512
the same freight as if discharge had been at the 448 prejudice to this Charter Party, and Charterers hereby 513
original port(s) of destination, except that if the 449 indemnify Owners against all liabilities that may arise 514
distance of the substituted port(s) exceeds 100 450 from the signing of Bills of Lading as presented to the 515
nautical miles, the freight on the cargo delivered 451 extent that the terms of such Bills of Lading impose 516
at the substituted port(s) shall be increased 452 more onerous liabilities upon Owners than those 517
proportionately. 453 assumed by Owners under the terms of this Charter 518
Party. 519
23. Agency 454 Neither the Owners nor their servants shall be required 520
The Owners shall nominate and appoint agents at 455 to sign or endorse Bills of Lading showing freight prepaid 521
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GASVOY 2005 Gas Voyage Charter Party - for the LPG, Ammonia and Liquefied Petrochemical Gas Trades

unless and until the freight due to Owners has actually 522 If a salving ship is owned or operated by the Carrier, 589
been paid. 523 salvage shall be paid for as fully as if the said salving 590
ship or ships belonged to strangers. Such deposit as 591
26. Protective Clauses 524 the Carrier or his agents may deem sufficient to cover 592
The following clauses shall apply to all Bills of Lading 525 the estimated contribution of the goods and any salvage 593
issued under this Charter Party and to this Charter 526 and special charges thereon shall, if required, be made 594
Party: 527 by the goods, Shippers, Consignees or owners of the 595
(a) BIMCO General Clause Paramount 528 goods to the Carrier before delivery. 596
The International Convention for the Unification of 529 (d) War Risks (VOYWAR 2004) 597
certain Rules of Law relating to Bills of Lading signed 530 (a) For the purpose of this Clause, the words: 598
at Brussels on 24 August 1924 (“the Hague Rules”) as 531 (i) “Owners” shall include the shipowners, bareboat 599
amended by the Protocol signed at Brussels on 23 532 charterers, disponent owners, managers or other 600
February 1968 (“the Hague- Visby Rules”) and as 533 operators who are charged with the management 601
enacted in the country of shipment shall apply to this 534 of the Vessel, and the Master; and 602
Contract. When the Hague-Visby Rules are not enacted 535 (ii) “War Risks” shall include any actual, threatened 603
in the country of shipment, the corresponding legislation 536 or reported: 604
of the country of destination shall apply, irrespective of 537 War; act of war; civil war; hostilities; revolution; 605
whether such legislation may only regulate outbound 538 rebellion; civil commotion; warlike operations; 606
shipments. 539 laying of mines; acts of piracy; acts of terrorists; 607
When there is no enactment of the Hague-Visby Rules 540 acts of hostility or malicious damage; blockades 608
in either the country of shipment or in the country of 541 (whether imposed against all vessels or imposed 609
destination, the Hague-Visby Rules shall apply to this 542 selectively against vessels of certain flags or 610
Contract save where the Hague Rules as enacted in 543 ownership, or against certain cargoes or crews 611
the country of shipment or if no such enactment is in 544 or otherwise howsoever); by any person, body, 612
place, the Hague Rules as enacted in the country of 545 terrorist or political group, or the Government of 613
destination apply compulsorily to this Contract. The 546 any state whatsoever, which, in the reasonable 614
Protocol signed at Brussels on 21 December 1979 (“the 547 judgement of the Master and/or the Owners, may 615
SDR Protocol 1979”) shall apply where the Hague-Visby 548 be dangerous or are likely to be or to become 616
Rules apply, whether mandatorily or by this Contract. 549 dangerous to the Vessel, her cargo, crew or other 617
The Carrier shall in no case be responsible for loss of 550 persons on board the Vessel. 618
or damage to cargo arising prior to loading, after 551 (b) If at any time before the Vessel commences 619
discharging or while the cargo is in the charge of another 552 loading, it appears that, in the reasonable 620
carrier, or with respect to deck cargo and live animals. 553 judgement of the Master and/or the Owners, 621
(b) Both to Blame Collision Clause 554 performance of the Charter Party, or any part of 622
If the Vessel comes into collision with another vessel 555 it, may expose, or is likely to expose, the Vessel, 623
as a result of the negligence of the other vessel and/or 556 her cargo, crew or other persons on board the 624
any act, neglect or default of the Master, mariner, pilot 557 Vessel to War Risks, the Owners may give notice 625
or the servants of the Carrier in the navigation or in the 558 to the Charterers cancelling this Charter Party, or 626
management of the Vessel, the owners of the cargo 559 may refuse to perform such part of it as may 627
carried hereunder will indemnify the Carrier against all 560 expose, or may be likely to expose, the Vessel, 628
loss or liability to the other or non-carrying vessel or 561 her cargo, crew or other persons on board the 629
her Owners in so far as such loss or liability represents 562 Vessel to War Risks; provided always that if this 630
loss of, or damage to, or any claim whatsoever of the 563 Charter Party provides that loading or discharging 631
owners of the said cargo, paid or payable by the other 564 is to take place within a range of ports, and at the 632
or non-carrying vessel or her Owners to the owners of 565 port or ports nominated by the Charterers the 633
the said cargo and set off, recouped or recovered by 566 Vessel, her cargo, crew, or other persons on board 634
the other or non-carrying vessel or her Owners as part 567 the Vessel may be exposed, or may be likely to 635
of their claim against the carrying Vessel or Carrier. 568 be exposed, to War Risks, the Owners shall first 636
The foregoing provisions shall also apply where the 569 require the Charterers to nominate any other safe 637
Owners, operators or those in charge of any vessel or 570 port which lies within the range for loading or 638
vessels or objects other than, or in addition to, the 571 discharging, and may only cancel this Charter 639
colliding vessels or objects are at fault in respect of a 572 Party if the Charterers shall not have nominated 640
collision or contact. 573 such safe port or ports within 48 hours of receipt 641
(c) General Average and New Jason Clause 574 of notice of such requirement. 642
General Average shall be adjusted, stated and settled 575 (c) The Owners shall not be required to continue to 643
according to York-Antwerp Rules 1994, in London 576 load cargo for any voyage, or to sign Bills of 644
unless another place is agreed in the Charter. 577 Lading for any port or place, or to proceed or 645
In the event of accident, danger, damage or disaster 578 continue on any voyage, or on any part thereof, 646
before or after the commencement of the voyage, 579 or to proceed through any canal or waterway, or 647
resulting from any cause whatsoever, whether due to 580 to proceed to or remain at any port or place 648
negligence or not, for which, or for the consequence of 581 whatsoever, where it appears, either after the 649
which, the Carrier is not responsible, by statute, contract 582 loading of the cargo commences, or at any stage 650
or otherwise, the goods, Shippers, Consignees or 583 of the voyage thereafter before the discharge of 651
owners of the goods shall contribute with the Carrier in 584 the cargo is completed, that, in the reasonable 652
general average to the payment of any sacrifices, losses 585 judgement of the Master and/or the Owners, the 653
or expenses of a general average nature that may be 586 Vessel, her cargo (or any part thereof), crew or 654
made or incurred and shall pay salvage and special 587 other persons on board the Vessel (or any one 655
charges incurred in respect of the goods. 588 or more of them) may be, or are likely to be, 656
 PART II
GASVOY 2005 Gas Voyage Charter Party - for the LPG, Ammonia and Liquefied Petrochemical Gas Trades

exposed to War Risks. If it should so appear, 657 sailing in convoy, ports of call, stoppages, desti- 725
the Owners may by notice request the Charterers 658 nations, discharge of cargo, delivery or in any way 726
to nominate a safe port for the discharge of the 659 whatsoever which are given by the Government 727
cargo or any part thereof, and if within 48 hours 660 of the Nation under whose flag the Vessel sails, 728
of the receipt of such notice, the Charterers shall 661 or other Government to whose laws the Owners 729
not have nominated such a port, the Owners may 662 are subject, or any other Government which so 730
discharge the cargo at any safe port of their 663 requires, or any body or group acting with the 731
choice (including the port of loading) in complete 664 power to compel compliance with their orders or 732
fulfilment of the Charter Party. The Owners shall 665 directions; 733
be entitled to recover from the Charterers the 666 (ii) to comply with the orders, directions or recom- 734
extra expenses of such discharge and, if the 667 mendations of any war risks underwriters who 735
discharge takes place at any port other than the 668 have the authority to give the same under the 736
loading port, to receive the full freight as though 669 terms of the war risks insurance; 737
the cargo had been carried to the discharging 670 (iii) to comply with the terms of any resolution of the 738
port and if the extra distance exceeds 100 miles, 671 Security Council of the United Nations, the 739
to additional freight which shall be the same 672 effective orders of any other Supranational body 740
percentage of the freight contracted for as the 673 which has the right to issue and give the same, 741
percentage which the extra distance represents 674 and with national laws aimed at enforcing the 742
to the distance of the normal and customary 675 same to which the Owners are subject, and to 743
route, the Owners having a lien on the cargo for 676 obey the orders and directions of those who are 744
such expenses and freight. 677 charged with their enforcement; 745
(d) If at any stage of the voyage after the loading of 678 (iv) to discharge at any other port any cargo or part 746
the cargo commences, it appears that, in the 679 thereof which may render the Vessel liable to 747
reasonable judgement of the Master and/or the 680 confiscation as a contraband carrier; 748
Owners, the Vessel, her cargo, crew or other 681 (v) to call at any other port to change the crew or any 749
persons on board the Vessel may be, or are likely 682 part thereof or other persons on board the Vessel 750
to be, exposed to War Risks on any part of the 683 when there is reason to believe that they may be 751
route (including any canal or waterway) which is 684 subject to internment, imprisonment or other 752
normally and customarily used in a voyage of the 685 sanctions; 753
nature contracted for, and there is another longer 686 (vi) where cargo has not been loaded or has been 754
route to the discharging port, the Owners shall 687 discharged by the Owners under any provisions 755
give notice to the Charterers that this route will 688 of this Clause, to load other cargo for the Owners’ 756
be taken. In this event the Owners shall be 689 own benefit and carry it to any other port or ports 757
entitled, if the total extra distance exceeds 100 690 whatsoever, whether backwards or forwards or 758
miles, to additional freight which shall be the same 691 in a contrary direction to the ordinary or customary 759
percentage of the freight contracted for as the 692 route. 760
percentage which the extra distance represents 693 (g) If in compliance with any of the provisions of sub- 761
to the distance of the normal and customary route. 694 clauses (b) to (f) of this Clause anything is done 762
(e) (i) The Owners may effect war risks insurance in 695 or not done, such shall not be deemed to be a 763
respect of the Hull and Machinery of the Vessel 696 deviation, but shall be considered as due fulfilment 764
and their other interests (including, but not limited 697 of the Charter Party. 765
to, loss of earnings and detention, the crew and 698
their Protection and Indemnity Risks), and the 699 27. Subletting/Assigning 766
premiums and/or calls therefor shall be for their 700 Subject to the Owners’ approval, which shall not be 767
account. 701 unreasonably withheld, the Charterers shall have the 768
(ii) If the Underwriters of such insurance should 702 liberty of subletting or assigning this Charter Party to 769
require payment of premiums and/or calls 703 any individual or Company, but the Charterers shall 770
because, pursuant to the Charterers’ orders, or 704 always remain responsible for the due fulfilment of all 771
in order to fulfil the Owners’ obligation under this 705 the terms and conditions of this Charter Party. 772
Charter Party, the Vessel is within, or is due to 706
enter and remain within, or pass through any area 707 28. BIMCO ISPS/MTSA Clause for Voyage Charter 773
or areas which are specified by such Underwriters 708 Parties 2005 774
as being subject to additional premiums because 709 (a) (i) The Owners shall comply with the requirements 775
of War Risks, then the actual premiums and/or 710 of the International Code for the Security of Ships 776
calls paid shall be reimbursed by the Charterers 711 and of Port Facilities and the relevant amend- 777
to the Owners within 14 days after receipt of the 712 ments to Chapter XI of SOLAS (ISPS Code) re- 778
Owners’ invoice. If the Vessel discharges all of 713 lating to the Vessel and “the Company” (as de- 779
her cargo within an area subject to additional 714 fined by the ISPS Code). If trading to or from the 780
premiums as herein set forth, the Charterers shall 715 United States or passing through United States 781
reimburse the Owners for the actual additional 716 waters, the Owners shall also comply with the 782
premiums paid which may accrue from completion 717 requirements of the US Maritime Transportation 783
of discharge until the Vessel leaves such area or 718 Security Act 2002 (MTSA) relating to the Vessel 784
areas referred to above. The Owners shall leave 719 and the “Owner” (as defined by the MTSA). 785
the area as soon as possible after completion of 720 (ii) Upon request the Owners shall provide the Char- 786
discharge. 721 terers with a copy of the relevant International Ship 787
(f) The Vessel shall have liberty:- 722 Security Certificate (or the Interim International 788
(i) to comply with all orders, directions, recommen- 723 Ship Security Certificate) and the full style contact 789
dations or advice as to departure, arrival, routes, 724 details of the Company Security Officer (CSO). 790
 PART II
GASVOY 2005 Gas Voyage Charter Party - for the LPG, Ammonia and Liquefied Petrochemical Gas Trades

(iii) Loss, damages, expense or delay (excluding 791 requiring the other party to appoint its own arbitrator 858
consequential loss, damages, expense or delay) 792 within 14 calendar days of that notice and stating that it 859
caused by failure on the part of the Owners or 793 will appoint its arbitrator as sole arbitrator unless the 860
“the Company”/”Owner” to comply with the 794 other party appoints its own arbitrator and gives notice 861
requirements of the ISPS Code/MTSA or this 795 that it has done so within the 14 days specified. If the 862
Clause shall be for the Owners’ account, except 796 other party does not appoint its own arbitrator and give 863
as otherwise provided in this Charter Party. 797 notice that it has done so within the 14 days specified, 864
(b) (i) The Charterers shall provide the Owners and 798 the party referring a dispute to arbitration may, without 865
the Master with their full style contact details and, 799 the requirement of any further prior notice to the other 866
upon request, any other information the Owners 800 party, appoint its arbitrator as sole arbitrator and shall 867
require to comply with the ISPS Code/MTSA. 801 advise the other party accordingly. The award of a sole 868
(ii) Loss, damages or expense (excluding conse- 802 arbitrator shall be binding on both parties as if he had 869
quential loss, damages or expense) caused by 803 been appointed by agreement. 870
failure on the part of the Charterers to comply 804 Nothing herein shall prevent the parties agreeing in 871
with this Clause shall be for the Charterers’ ac- 805 writing to vary these provisions to provide for the 872
count, except as otherwise provided in this Char- 806 appointment of a sole arbitrator. 873
ter Party, and any delay caused by such failure 807 In cases where neither the claim nor any counterclaim 874
shall count as laytime or time on demurrage. 808 exceeds the sum of US$50,000 (or such other sum as 875
(c) Provided that the delay is not caused by the 809 the parties may agree) the arbitration shall be conducted 876
Owners’ failure to comply with their obligations under 810 in accordance with the LMAA Small Claims Procedure 877
the ISPS Code/MTSA, the following shall apply: 811 current at the time when the arbitration proceedings are 878
(i) Notwithstanding anything to the contrary provided 812 commenced. 879
in this Charter Party, the Vessel shall be entitled 813 *) (b) This Charter Party shall be governed by and 880
to tender Notice of Readiness even if not cleared 814 construed in accordance with Title 9 of the United States 881
due to applicable security regulations or measures 815 Code and the Maritime Law of the United States and 882
imposed by a port facility or any relevant authority 816 any dispute arising out of or in connection with this 883
under the ISPS Code/MTSA. 817 Charter Party shall be referred to three persons at New 884
(ii) Any delay resulting from measures imposed by a 818 York, one to be appointed by each of the parties hereto, 885
port facility or by any relevant authority under the 819 and the third by the two so chosen; their decision or 886
ISPS Code/MTSA shall count as laytime or time 820 that of any two of them shall be final, and for the 887
on demurrage, unless such measures result 821 purposes of enforcing any award, judgement may be 888
solely from the negligence of the Owners, Master 822 entered on an award by any court of competent 889
or crew or the previous trading of the Vessel, the 823 jurisdiction. The proceedings shall be conducted in 890
nationality of the crew or the identity of the 824 accordance with the rules of the Society of Maritime 891
Owners’ managers. 825 Arbitrators, Inc. 892
(d) Notwithstanding anything to the contrary provided 826 In cases where neither the claim nor any counterclaim 893
in this Charter Party, any costs or expenses whatsoever 827 exceeds the sum of US$50,000 (or such other sum as 894
solely arising out of or related to security regulations or 828 the parties may agree) the arbitration shall be conducted 895
measures required by the port facility or any relevant 829 in accordance with the Shortened Arbitration Procedure 896
authority in accordance with the ISPS Code/MTSA 830 of the Society of Maritime Arbitrators, Inc. current at the 897
including, but not limited to, security guards, launch 831 time when the arbitration proceedings are commenced. 898
services, vessel escorts, security fees or taxes and 832 *) (c) This Charter Party shall be governed by and 899
inspections, shall be for the Charterers’ account, unless 833 construed in accordance with the laws of the place 900
such costs or expenses result solely from the negligence 834 mutually agreed by the parties and any dispute arising 901
of the Owners, Master or crew or the previous trading 835 out of or in connection with this Charter Party shall be 902
of the Vessel, the nationality of the crew or the identity 836 referred to arbitration at a mutually agreed place, subject 903
of the Owners’ managers. All measures required by the 837 to the procedures applicable there. 904
Owners to comply with the Ship Security Plan shall be 838 (d) Notwithstanding (a), (b) or (c) above, the parties 905
for the Owners’ account. 839 may agree at any time to refer to mediation any 906
(e) If either party makes any payment which is for the 840 difference and/or dispute arising out of or in connection 907
other party’s account according to this Clause, the other 841 with this Charter Party. 908
party shall indemnify the paying party. 842 In the case of a dispute in respect of which arbitration 909
has been commenced under (a), (b) or (c) above, the 910
29. BIMCO Dispute Resolution Clause 843 following shall apply:- 911
*) (a) This Charter Party shall be governed by and 844 (i) Either party may at any time and from time to time 912
construed in accordance with English law and any 845 elect to refer the dispute or part of the dispute to 913
dispute arising out of or in connection with this Charter 846 mediation by service on the other party of a written 914
Party shall be referred to arbitration in London in 847 notice (the “Mediation Notice”) calling on the other 915
accordance with the Arbitration Act 1996 or any statutory 848 party to agree to mediation. 916
modification or re-enactment thereof save to the extent 849 (ii) The other party shall thereupon within 14 calen- 917
necessary to give effect to the provisions of this Clause. 850 dar days of receipt of the Mediation Notice con- 918
The arbitration shall be conducted in accordance with 851 firm that they agree to mediation, in which case 919
the London Maritime Arbitrators Association (LMAA) 852 the parties shall thereafter agree a mediator within 920
Terms current at the time when the arbitration 853 a further 14 calendar days, failing which on the 921
proceedings are commenced. The reference shall be 854 application of either party a mediator will be ap- 922
to three arbitrators. A party wishing to refer a dispute to 855 pointed promptly by the Arbitration Tribunal (“the 923
arbitration shall appoint its arbitrator and send notice 856 Tribunal”) or such person as the Tribunal may 924
of such appointment in writing to the other party 857 designate for that purpose. The mediation shall 925
 PART II
GASVOY 2005 Gas Voyage Charter Party - for the LPG, Ammonia and Liquefied Petrochemical Gas Trades

be conducted in such place and in accordance 926 (e) If Box K in PART I is not appropriately filled in, 957
with such procedure and on such terms as the 927 sub-clause (a) of this Clause shall apply. Sub-clause 958
parties may agree or, in the event of disagree- 928 (d) shall apply in all cases. 959
ment, as may be set by the mediator. 929 *) Sub-clauses (a), (b) and (c) are alternatives; indicate 960
(iii) If the other party does not agree to mediate, that 930 alternative agreed in Box K. 961
fact may be brought to the attention of the Tribunal 931
and may be taken into account by the Tribunal 932 30. BIMCO Notices Clause 962
when allocating the costs of the arbitration as 933 (a) All notices given by either party or their agents 963
between the parties. 934 to the other party or their agents in accordance with 964
(iv) The mediation shall not affect the right of either 935 the provisions of this Charter Party shall be in writing. 965
party to seek such relief or take such steps as it 936 (b) For the purposes of this Charter Party, “in writing” 966
considers necessary to protect its interest. 937 shall mean any method of legible communication. A 967
(v) Either party may advise the Tribunal that they 938 notice may be given by any effective means including, 968
have agreed to mediation. The arbitration 939 but not limited to, cable, telex, fax, e-mail, registered 969
procedure shall continue during the conduct of 940 or recorded mail, or by personal service. 970
the mediation but the Tribunal may take the 941
mediation timetable into account when setting the 942 31. Charter Party Administration Clause (Optional) 971
timetable for steps in the arbitration. 943 This Clause is optional and shall only apply where 972
(vi) Unless otherwise agreed or specified in the 944 the parties have specifically agreed in the fixing 973
mediation terms, each party shall bear its own 945 confirmation (in the form of PART I or similar document). 974
costs incurred in the mediation and the parties 946 The Charter Party terms and conditions are evidenced 975
shall share equally the mediator’s costs and 947 by the fixing confirmation (which shall include the 976
expenses. 948 negotiated terms in full and all amendments, additions 977
(vii) The mediation process shall be without prejudice 949 and deletions, if any, to GASVOY 2005) sent by the 978
and confidential and no information or documents 950 brokers and approved by the parties. Such approval 979
disclosed during it shall be revealed to the Tribunal 951 shall be confirmed in writing by return to the brokers. 980
except to the extent that they are disclosable 952 The brokers shall then confirm receipt of said 981
under the law and procedure governing the 953 confirmation to both parties promptly in writing. Except 982
arbitration. 954 as requested in writing by either the Owners or the 983
(Note: The parties should be aware that the mediation 955 Charterers there shall be no formal written and signed 984
process may not necessarily interrupt time limits.) 956 Charter Party. 985