TANK STORAGE AGREEMENT CONTRACT (TSA)
For the provision of services for the storage of petroleum products.
Ref: 347/2-747-4667/2-TSA
Valid from: JUNE 6th, 2024 Valid Till: JUNE 30th, 2025
Duration: 12 months (1Year)
SUBJECT OF AGREEMENT
1.The LESSOR "CHRIMI SHIPPING LTD" And The LESSEE, “A70 INVESTMENT IN COMMERCIAL
ENTERPRISES & MANAGEMENT LLC”, Represented by Mr. Abdulla Eissa Sultan Alayan Alzaabi, Company
Owner/Founder has entered into a Tank Farm Storage Agreement with the LESSOR/TANK FARM
OWNER (CHRIMI SHIPPING LTD) for the Temporary Storage of petroleum product EN590 10PPM / JET
A1 RESPECTIVELY of about Total Quantity of 200,000 MT / 2 million BBLS Monthly (TBA) in storage shore
tanks.
DEFINITIONS:
1.1. Lessor shall mean Abound Storage Tank Lessor.
1.2. Lessee shall mean the parties specified in the Storage Reservation Form
1.3. Rental shall mean the monthly charge levied for the hiring of a unit
1.4. Period shall mean one calendar month
1.5. Unit shall mean a specific storage unit allocated to the lessee
1.6. Lease shall mean the storage lease agreement
1.7. Initial period shall mean the number of days leased (calculated on a daily basis) before the start of a
new calendar month.
This agreement is for the temporary Storage of 200,000 MT / 2 million BBLS Monthly of EN590 10PPM /
JET A1 RESPECTIVELY.
1.8. LOCATION, SHORE TANK, PRODUCTS AND TANK NO.:
Terminal: (Discount of 10% from 15 to 20 days and Discount of 15% from 21 Days and above) Tank No:
Terminal: TBA - Rotterdam Seaport / / Industrial Area Seaport Fujairah
Tank No: TBA - Rotterdam Seaport / / Industrial Area Seaport Fujairah
1.9. Storage Location: Rotterdam Seaport / / Industrial Area Seaport Fujairah.
1.10. Product: 200,000 MT / 2 million BBLS Monthly of EN590 10PPM / JET A1 RESPECTIVELY for storage
period with the possibility for Roll and Extension of the storage period. Storage Company shall, at its
own expense, deliver the tanks to Client empty of product, slops, water, sediments or residues and
clean and suitable in every respect to receive 200,000 MT / 2 million BBLS Monthly of EN590 10PPM /
JET A1 RESPECTIVELY. The tanks shall be certified as EN590 10PPM / JET A1 Suitable at the start of the
Lease by a mutually agreed first class independent inspector.
The petroleum product ("200,000 MT / 2 million BBLS Monthly of EN590 10PPM / JET A1 RESPECTIVELY
") is to be delivered through the means of Vessel, Pipe Line or Railway wagon into the Ex-Shore Tank.
2. AVAILABILITY OF TANK, LOCATION AND CAPACITY.
2.1 The Ex-Shore Tanks are located at Rotterdam Seaport / / Industrial Area Seaport Fujairah.
2.2. This Tank Storage Agreement Contract is for the Leasing and or Sub-leased of Ex-Shore Tanks
between The LESSOR "CHRIMI SHIPPING LTD" And The LESSEE, "A70 INVESTMENT IN COMMERCIAL
ENTERPRISES & MANAGEMENT LLC” with Address at Office #209, Sapphire Building Port Saeed, Deira.
Dubai, UAE.
2.3. The Validity of the Tank Storage Agreement is subjected to the payment and usage for the period
which is valid from the date of the first injection into the tank.
2.4. The Total Space available for Temporary Storage of 200,000 MT / 2 million BBLS Monthly of EN590
10PPM / JET A1 in the Shore Tank Farm Storage is 200,000 MT / 2 million BBLS TBA with the possibility
for Roll and Extension of the storage period.
2.5. CAPACITY: 123.400 Cubic Meter (CBM) shell capacity, composed of:
• Tanks 503/ 508: 2 x 10.233 CBM = 20.466 CBM
• Tanks 501/ 502: 2 x 20.667 CBM = 41.334 CBM
• Tanks 405/ 406: 2 x 30.800 CBM = 61.600 CBM
IN TOTAL: 123.400 CBM
All tanks are suitable for the storage of CPP like Aviation Fuel, gasoline, gasoil and diesel
All tanks are equipped with side entry mixers and a water drain
3. COMMODITY / QUANTITY / PRICE
3.1. COMMODITY: EN590 10PPM / JET A1.
3.2. QUANTITY: 200,000 MT / 2 million BBLS Monthly / TBA
3.3. EQUIVALENT STATEMENT 1 bbl. = 158.987 L
1 m³ = 1000 L
1 gallon = 3.785 L
1 bbl. = 42 (US) gallons
Approximately One (1) Metric Tons = 7.2 Barrels
3.4. Terminal Tariff: The Rental Charge to be paid by the LESSEE for the temporary storage of the Fuel in
the Ex-shore tank is at the rate of US$64,000.00 per day for the any required lease for the receiving and
storing of the (EN590 10PPM / JET A1) in our Tank Storage Facilities in Rotterdam Seaport / / Industrial
Area Seaport Fujairah.
3.5. The lease shall be for the any period and shall thereafter continue on a monthly basis until
terminated by either of the parties.
4. DELIVER PERIOD
4.1. The Commodity shall be delivered by the Supplier/Exporter via Vessel, Pipe Line or railway wagons
into the Ex-Shore Tanks, and the Supplier / transportation Company shall send a preliminary NOR
(Notice of Readiness) to commence the Injection of the Product into Ex-Shore Tank not later than One
(1) day before the injection of the product is made into the Ex-Shore Tank.
4.2. Delivery of the petroleum product shall be made into the Tanks immediately after receipt of
Payment confirmation for the contract duration the LESSEE intends to store the Product in the Tanks
and a NOR (Notice of Readiness) from the Supplier and the transportation Company is sent in order for
the Tank to be cleared and the issuance of the Tank Clearance prior to Tank Injection of fuel.
4.3. The Commodity shall be unloaded from the Ex-Shore Tanks at the Tank Farm which is located at the
Rotterdam Seaport // Industrial Area Seaport Fujairah and Load into Tank/Vessel Tanker at LESSEE/CO
LESSEE options during the Storage Period.
4.4. The LESSEE Shall Provide a Tank/Vessel (s) Tanker Ready for loading during storage period.
4.5. The LESSEE Shall Send a Preliminary Notice of the Name of the Tank/Vessel Tanker, the Estimated
tonnage, the possible date of arrival and the readiness of the Tank/Vessel Tanker for loading not later
than One (1) business day before the arrival of the Tank/vessel Tanker to the port.
4.6. The First Quantity to be Delivered by the Supplier /Exporter of the petroleum product into the
Storage Tanks shall be as per delivery Schedule provided by LESSEE "Supplier /Exporter" in accordance
to the Quality and Quantity stipulated on the delivery schedule on the sales and purchase Agreement
signed or Commercial Invoice between both parties (i.e., the "LESSEE" and the "Supplier /Exporter).
5. PROCEDURES FOR LEASING or SUB-LEASING STORAGE TANKS
5.1. LESSEE Company sign the Tank Storage Agreement and Return back the sign Copy for Finalization.
5.2. Upon Finalization of the Tank Agreement, the Finalized Copy of the Tank Agreement and Invoice for
the Payment for the number of days the LESSEE Company intends to store the product in the Tanks shall
be furnished to LESSEE.
5.3. LESSEE Company shall pay the Invoice for the Leasing of the Storage Tanks for the Number of Days
the LESSEE Company intends to store the petroleum product in the Ex-Shore Tank. Tank Storage receipt
will be issued to LESSEE containing the tank information, tank Location at the Rotterdam Seaport //
Industrial Area Seaport Fujairah, Tank(s) type, Tank capacity and tank coordinate and numbers.
5.4. LESSEE Company shall send to "LESSOR/TANK OWNER" Notice of Readiness (NOR) to commence the
Injection of the Petroleum Product by the Transportation Company or the Supplier /Exporter
5.5. Upon Receipt of Notice of Readiness (NOR) to Commence the Injection of the Petroleum Product by
the Transportation Company, "LESSOR / TANK OWNER" clear the Ex-Shore Tanks and issue to the LESSEE
Company the TANK CLEARANCE prior to Tank Injection of the Petroleum Product and also Send copy of
the Notice of Readiness (NOR) to Receive the Petroleum product from the contracted transportation
system into the Tanks.
5.6. Upon Completion of the first reception of the Petroleum Product from the Vessel/pipeline into the
Tank, the contract duration LESSEE Company paid for, start counting as days use for the storage of the
Petroleum product.
5.7. LESSEE Company provide their Inspection Team for Dip Test Inspection Confirmation for Quality &
Quantity of the petroleum product received from the vessel/pipeline system into the Tanks and lift the
petroleum product from the Tank anytime during the Validity of the days LESSEE Company paid for.
6. PAYMENT TERMS AND CONDITIONS / METHOD OF PAYMENT
6.1. The LESSEE shall pay for the product leased tank to be temporary storage in the Ex-Shore Tanks not
later than One (1) Business Day before the day of reception of the petroleum from the transportation
company.
Upon Lessor/ Tank Owner receipt of the copy of NOR (Notice of Readiness) from the LESSEE to
Commence on the Injection of the Petroleum Product into the Ex-Shore Tanks, the "LESSOR / TANK
OWNER" is to clear the Ex-Shore Tanks and issue to the LESSEE company the TANK CLEARANCE/ NOR
"Notice of Readiness" to receive the petroleum product from the contracted transportation company
prior to Tank Injection of the Petroleum Product.
6.2. The LESSEE shall pay for the petroleum product temporary storage tank in Dollar/EURO currency,
USDT Cryptocurrency through the means of SWIFT T/T WIRE TRANSFER directly into the beneficiary
Account provided in the Invoice issued to the LESSEE Company by the "LESSOR / TANK OWNER" duly
sign and Seal by the Chief Operating Officer.
6.3 The Amount to be paid by the LESSEE is calculated at the rate of USD $64,000.00 per day for initial
period of days and extendable.
6.4. The Total Amount to be paid by the LESSEE for the Temporary Storage of the Fuel in the Ex-Shore
period is USD $64,000.00 X Number of days be made upon final endorsement of this agreement.
6.5. Upon remittance of the payment for the above Number of day period the LESSEE intends to store
the Fuel in the Ex-Shore Tank, The Storage Period shall start counting from the day the fuel is injected
into the Ex-Shore Tank.
6.6. METHOD OF PAYMENT: The Payment Method that is accepted is SWIFT WIRE TRANSFER -
Telegraphic Wire Transfer "T/T" OR MT 103.
6.7. REFUND POLICY: If for any reason the Ex-Shore Tanks is not used for the Temporary Storage of the
petroleum product by the Lessee for the monthly contract period during the validated date of this Tank
Storage Agreement, the Sum Total of the Amount paid by the Lessee shall be refunded back in full 100%,
7. UNLOADING CONDITIONS
7.1. The LESSEE warrant providing a Tank/Vessel Tanker Suitable and ready for Loading and meeting
with all the requirement of port in accordance to the port rules and regulation to unload the commodity
from the Ex-Shore storage tanks into the vessel tanker.
7.2. The Lessor shall provide Lessee Supplier / Exporter the port clearance of the Vessel Tanker not later
than One (1) Business Day before the Estimated Time of Arrival of the Vessel Tanker to the port and or
Loading Terminal.
8. DUMURRAGE
8.1. Demurrage shall be 10% of one day leasing fees.
9. DEFAULT
9.1. In default of fulfilment of this contract by either of the parties, the defaulter shall be liable for all
cost.
9.2. In default of this contract by either of the parties, price differences and losses will be calculated and
due for payment in accordance with the default Article of GAFTA 6.
9.3. The VOTOB General Conditions for Tank Storage in the Netherlands 2014 (Annex 2) as well as the
prevailing VOTOB Jetty Conditions 2014 (Annex 3) shall apply. Wherever this contract differs from the
VOTOB General Conditions and VOTOB Jetty Conditions, this contract shall prevail.
10. LIABILITIES AND INSURANCE
10.1. To the extent the obligations of the Storage Operator do not derive from this Agreement or from
the law, the Storage Operator shall apply the diligence of a proper storage operator during the
performance of this Agreement. The Storage Operator shall in any case follow any and all applicable
regulations and legislative acts of the jurisdiction on which territory the Products are stored and
preserved pursuant to this Agreement
10.2. The Products shall be deemed to be delivered to the Storage Operator and to be received by a
person authorized by the Depositor at the moment when the Products respectively pass the shut-off
valve of the pipeline of the equipment for loading and unloading from and into land and/or water
means of transport, unless otherwise stipulated in this Agreement.
11. CUSTOMS AND TAX ISSUES
11.1. Unless otherwise stipulated in a Single Storage Contract, the Storage Manager shall, at any time,
store and preserve the Products at the Storage Facility free of any tax and customs duty. The Storage
Manager shall procure that the Products are always stored and preserved so that the Depositor shall
have no obligation to pay any tax or duty (including, but not limited to value added tax, excise tax or any
customs duty or other import or export duty or any other similar duty or tax) related to the delivery,
storage, preservation or return of the Products to the Depositor.
11.2. The Storage manager shall be responsible for tax liabilities (including, but not limited to customs
duties, excise taxes etc.) and any administrative fines thereon that may occur through the non-
observance of fiscal regulations and failure to procure what has been undertaken by it in Article
11.3. Of this Agreement. The Storage manager shall be liable for charges arising as a result of his
instructions or activities, which are not in conformity with the provisions of this Agreement or its
Annexes or resulting in such unconformity.
12. LAW AND MISCELLANEOUS PROVISIONS
12.1. This Agreement together with its Annexes, including the Single Storage Contracts shall constitute a
uniform and integral Agreement replacing any oral and written agreements previously made between
the same Parties with respect to the subject matter of this Agreement as well as the documents of
respective public tender and of the bid of the Storage Operator.
12.2. The Parties shall be liable for the non-performance or unsatisfactory performance of their
respective obligations under this Agreement, unless such non-performance or unsatisfactory
performance is excused. The Party’s non-performance or unsatisfactory performance of its respective
obligations under this Agreement shall be excused in case the non-performance or unsatisfactory
performance is caused by circumstances which are beyond the control of the relevant Party and which
the relevant Party could not reasonably have been expected to take into account at the time of the
execution of this Agreement or of the respective other agreement between the Parties, or to have
avoided or overcome the impediment or its consequences (Force Majeure)
12.3. All agreements between the Storage Company and the Principal shall be governed by The
Netherlands Law.
12.4. All differences that might arise between the Storage Company and the Principal and/or that are
subject to these General Conditions shall have to be submitted ICC Paris by the Principals
IN WITNESS WHEREOF Client and Storage Company have each caused this Agreement to be entered into
by its duly authorized,
Executed this 6th day of JUNE 2024
THE LESSOR (SIGNATORY)
CHRIMI SHIPPING LTD
Mr. MARC CHRISTIAN PFEFFER
Director
Date: 06. 06. 2024
Executed this 6th day of JUNE 2024
THE LESSEE (SIGNATORY)
A70 INVESTMENT IN COMMERCIAL ENTERPRISES & MANAGEMENT LLC.
Represented by: Mr. Abdulla Eissa Sultan Alayan Alzaabi
Company Owner/Founder
Date: 06.06.2024
