CONTRACT REFERENCE # 2022-JMSSP-SUDOV-IASA-001

STAR MISTRAL

MAIN TERMS 9684225

CONTRACT REFERENCE # 2022-JMSSP-SUDOV-IASA-001

DISP. DISP OWNERS CHARTERERS

JM SHIP SERVICE PANAMA. EMDICO TRADING 2020 SLU

DIEGO ARTETA LOREDO
PAG 711213

IT IS DECIDED THIS DAY, SEPTEMBER 23TH, 2023 THAT THE ABOVE PARTIES
HAVE AGREED TO ENGAGE INTO A TIME CHARTER CONTRACT BASED ON THE
FOLLOWING TERMS AND CONDITIONS MUTUALLY AGREED UPON BELOW.

1.VESSEL'S PARTICULARS

IMO number 9684225

MMSI 636016288

Name of the ship STAR MISTRAL

Vessel type Bulk carrier

Operating status Active

Flag Liberia

Gross tonnage 35812 tons

Deadweight 63306 tons

Length 199 m

Breadth 32 m

Engine type MAN-B&W

Engine model 5S60ME-C

Engine power 8300 KW

Year of build 2014

Builder DAYANG SHIPBUILDING - YANGZHOU, CHINA

LAST 3 CARGOES: CPP/CPP/CPP

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2.- DELIVERY & READINESS:

2.1 STARTING DAY OF THIS CONTRACT WILL BE THE DELIVERY DATE OF THE
SHIP.
2.2 DELIVERY WILL BE AFTER SUBJS CONFIRMATION AND CHARTER HIRE
PAYMENT IS RECEIVED.
2.3 VESSEL TRIPS PROGRAM FROM CHARTERER REQUIREMENTS WILL BE
ADVISED PER CHARTERER REQUIREMENTS.
2.4 NO APLICA

3.- CANCELING
10 DAYS AFTER CP CONFIRMATION IF NOT DELIVERED TBN TO A 2 DAY
SPREAD

4- DELIVERY/REDELIVERY NOTICES
4.1 DELIVERY NOTICES: 10 DAYS APPROX. FOLLOWED BY 5/3/2/1 DAYS FIRM
NOTICE
4.2 REDELIVERY: PORT OF DEPARTURE CAICEDO TO PORT VENEZUELA
4.3 REDELIVERY NOTICES: 10 DAYS APPROX. FOLLOWED BY 5/3/2/1 DAYS
FIRM NOTICE

5.- CONTRACT:
TIME CHARTER 6+6. WITH ROLL OVERS AND EXTENTIONS.

6.- PERIOD:

A SINGLE TRIP

7.- TRADING AREA:

TRADING MAIN PORTS / VENEZUELA - TIAJIN, CHINA

8.- DAILY HIRE

A 27,600.00

9.- PAYMENT TERMS

9.1 USD IN ADVANCE AT SIGNATURE
9.2 UPON THE SIGNING OF THE CONTRACT AND DUE PROCESS, AN ADVANCE OF
138,000.00 WILL BE GIVEN
9.3 ALL PILOTS, TUGS, PORT D/A, AGENT EXPENSES AS PER SHELLTIME 4
FOR TO BE FOR CHARTERERS ACCOUNT.
9.4 HIRE PAYMENT WILL BE IN USD ONLY. 50% WHEN POSITIONING THE SHIP
BEFORE LOADING AND THE OTHER VALUE WHEN IT IS LOADED AND READY TO
DEPART
9.5 MONTHLY PAYMENTS WILL BE DONE IN ADVANCE FROM DAY 1 TO DAY 3 OF
EVERY MONTH, FIRST WORKABLE DAY.

10.- DISP OWNERS BANK DETAILS

BANK NAME: DEUTSCHE BANK TRUST COMPANY AMERICAS
SWIFT: BKTRUS33
BENEFICIARY BANK: BANISTMO S.A.
ACCOUNT NUMBER: 04457120
SWIFT: MILDPAPA
BENEFICIARY NAME: JUAN M GONZALEZ
ACCOUNT NUMBER: 0111037470
ATT: JM SHIP SERVICE

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11.-CARGO:
11.1 QUANTITY: CHOPT FULL CARGO
11.2 THE STAR MISTRAL SHIP IS IN CONDITIONS OF BULK CARGO, CONTAINERS,
BIG BAG AND OTHER CARGO. ANY TYPE OF CHANGE OF THE LOAD MUST BE
NOTIFIED WITHIN 5 DAYS
11.4 SEGREGATION: MAX GRADES....... WVNS

12-STS OPERATIONS & STORAGE:

12.1 THE CHARTERER WILL PROVIDE ALL THE SECURITY IN THE LOADING AND
UNLOADING THAT THE SHIP NEEDS

13. BUNKER CLAUSE

-FUEL AND LUBRICANTS IN CHARGE OF THE DISP. OWNER. THE FUEL IS

INCLUDED IN THE DAILY RENTAL OF THE VESSEL.

14.- COMMISSION
N/A

15--LAW:
ARBITRATION IN PANAMA LAW TO APPLY.

16.-TAXES:
ANY TAXES AND/OR DUES AND/OR LEVIES ON FRT AND/OR CARGO OR ANY
COSTS WHICH ARE FOR CHRTRS ARE INCLUDED.

17.-INSURANCE:
17.1 SELLER, AT HIS OWN EXPENSE, SHALL PROCURE A POLICY WITH A
FIRST-CLASS MARINE INSURANCE INSTITUTE TO COVER THE 110% (ONE
HUNDRED AND TEN PERCENT) OF THE VALUE OF THE CARGO.
17.2 THE INSURANCE POLICY WILL COVER ALL RISKS OF LOSS OR DAMAGES
TO SAID CARGO, INCLUDING WAR, HIJACKING, EXPLOSION ETC. FROM THE
TIME THE CARGO HAS PASSED THE SHIP’S MANIFOLD FLANGES AT THE
LOADING PORT. A COPY OF THE SAID POLICY WILL TO BE SUBMITTED TO
BUYER WITH EVERY LOAD SET OF DOCUMENTS.
17.3 MARINE INSURANCE WILL COVER ALL RISK, OF LOSS OR DAMAGE TO
SAID CARGO, INCLUDING WAR, HIJACKING, EXPLOSION ETC. UNTIL CARGO
COMMENCES TO PASS THE SHIP’S MANIFOLD FLANGES AT THE DISCHARGE
PORT.
17.4 ANY ADDITIONAL PREMIUMS PAYABLE BY OWNERS IN RESPECT OF WAR
RISKS UNDER THEIR POLICIES OF INSURANCE THAT ARE INCURRED BY REASON
OF VESSEL TRADING.
17.5 TO EXCLUDE AREAS NOT COVERED BY OWNERS' BASIC WAR RISK
INSURANCE SHALL BE FOR CHARTERS ACCOUNT. ADDITIONAL PREMIUMS ARE
PAYABLE TOGETHER WITH FREIGHT WITH SUPPORTING DOCUMENTS TO FOLLOW.

18.-CANCELLATION CLAUSE:
18.1 ANY OF THE PARTIES IS FREE
CONTRACT WITH 30 DAYS ON WRITTEN
CANCELATION IS NOT ACCEPTED NEED
CIUDAD DE PANAMÁ – PANAMÁ. LAW TO
TO REQUIRE A CANCELACION OF THIS
NOTICE TO THE OTHER PARTY.IF THE
TO BE RESOLVE IN GA/ARBITRATION –
APPLY.

19. NARCOTICS CLAUSE

19.1 IN PURSUANCE OF THE PROVISIONS OF THE U.S. ANTI DRUG ABUSE ACT
1986, OR ANY REENACTMENT THEREOF, THE CHARTERERS WARRANT TO
EXERCISE THE HIGHEST, DEGREE OF CARE AND DILIGENCE IN

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19.2 PREVENTING UNMANIFESTED NARCOTIC DRUGS AND MARIJUANA TO BE

LOADED OR CONCEALED ON BOARD THE VESSEL. NON-COMPLIANCE WITH THE
PROVISIONS OF THIS CLAUSE SHALL AMOUNT TO BREACH OF WARRANTY FOR
THE CONSEQUENCES OF WHICH THE CHARTERERS SHALL BE LIABLE AND SHALL
HOLD THE OWNERS, THE MASTER AND THE CREW OF THE VESSEL HARMLESS
AND SHALL KEEP THEM INDEMNIFIED AGAINST ALL CLAIMS WHATSOEVER
WHICH MAY ARISE AND BE MADE AGAINST THEM INDIVIDUALLY OR JOINTLY.
FURTHERMORE, ALL TIME LOST AND ALL EXPENSES INCURRED, INCLUDING
FINES, AS A RESULT FOR THE CHARTERERS' BREACH OF THE PROVISIONS OF
THIS CLAUSE SHALL BE FOR THE CHARTERERS ACCOUNT AND THE VESSEL
SHALL REMAIN ON HIRE.

19.3 SHOULD THE VESSEL BE ARRESTED AS A RESULT OF THE CHARTERERS’

NON-COMPLIANCE WITH THE PROVISIONS OF THIS CLAUSE, THE CHARTERERS
SHALL AT THEIR EXPENSE TAKE ALL REASONABLE STEPS TO SECURE THAT
WITHIN A REASONABLE TIME THE VESSEL IS RELEASED AND AT THEIR
EXPENSE PUT UP BAIL TO SECURE RELEASE OF THE VESSEL. THE OWNERS
SHALL REMAIN RESPONSIBLE FOR ALL TIME LOST AND ALL EXPENSES
INCURRED, INCLUDING FINES, IN THE EVENT THAT UNMANIFESTED NARCOTIC
DRUGS AND MARIJUANA ARE FOUND IN THE POSSESSION OR EFFECTS OF THE
VESSEL'S PERSONNEL.

20.- GENERAL/STANDARD SUB-CLAUSES

19.1) VESSEL NOT TO CHANGE REGISTRY/NAME/OWNERSHIP/FLAG DURING THE
DURATION OF THIS CHARTER PARTY
19.2) VESSEL IS SUITABLE FOR DRAFT SURVEY WITH CLEARLY VISIBLE
MARKS AND WILL HAVE ON BOARD ALL NECESSARY AND UP-TO DATE
CERTIFICATES INCLUDING SOUNDING TABLES, HYDROSTATIC CURVES AND
VALID LOADING CERTIFICATE. CONVERSIONS: 1MT = 307,86 GLS /// 1MT =
7.33 BBL /// 1BBL = 42 GLS /// 1GAL = 3.77 LITRES.
19.3) ANY TAXES/DUES ON CGO/FRT TO BE FOR CHRTRS ACCT
19.4) ANY TAXES/DUES ON VSSL/FLAG/CREW TO BE FR OWNERS ACCT
19.5) CHARTERERS CONFIRM THAT THERE WILL BE NO OFAC BREACHING
INVOLVED IN THIS TRADE AND THAT SHIPPERS, CHARTERERS, RECEIVERS ARE
NOT SANCTIONED. CHARTS WARRANT THAT NONE OF THE INDIVIDUALS NAMED
ON THE LISTS ISSUED BY THE US/UN AND/OR EU ARE CONNECTED TO ANY
TRANSACTION RELATING TO THE CARGO CARRIED UNDER THIS CP. CHARTS
FURTHER WARRANT THAT NO SANCTIONED CARGO BY EU/US/UN TO BE LOADED
ONBOARD THE VSL 19.6) IF ARM GUARDS ARE REQUIRED, THEN TO BE ON
CHARTERERS ACCOUNT DURING THIS CP.
19.7) SHELL TIME 4 WITH CHARTS FURTHER TERMS INCL SANCTION CLAUSES,
ANTI CORRUPTION CLAUSE TO BE AGREED. OWNERS FURTHER TERMS TO BE
AGREED. ALL OTHER TERMS WITH OTHER MUTUALLY AGREED ANNEXED OWNERS'
TERMS & CONDITION TO TC, BELOW ADDITIONAL CLAUSES AND AS PER
SHELLTIME 4 CP WITH OWNERS MUTUALLY AGREED BELOW AMENDMENTS AND
REST LOGICAL AMENDMENTS ONLY

21.- CHARTER PARTY ADMINISTRATION CLAUSE:

21.1 CHARTER PARTY TERMS AND CONDITIONS ARE EVIDENCE BY THE FIXING
CONFIRMATION BETWEEN THE PARTIES.

21.2 ALL THE MOVEMENTS OF THE SHIP MUST BE AUTHORIZED BY THE

CHARTERER PARTY DUE LOGISTICS AND CLIENT’S REQUIREMENTS.

22.3 THE VESSEL’S MASTER SHALL ADVICE THE OWNER AND CHARTERER,
AGENT’S AT THE PORT OF LOADING AND PREVIOUS TO ARRIVE AT THE PORT

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OF DISCHARGE, THE SHIP’S ETA 120 HOURS BEFORE ARRIVAL, HER NAME,
TONNAGE, FLAG, DRAUGHTS ON BOARD QUANTITIES, AND ACTUAL TIME OF
ARRIVAL 48,36,24, AND 12 HOURS BEFORE HER ARRIVAL TO THE DISCHARGE
PORT.

22.4 ONE TO THREE CHARTERER REPRESENTATIVES CUT BE ON BOARD ALL THE

TIME PREVIOS NOTIFICATION AND ARRANGEMENTS WITH THE OWNER. OWNER
WILL BE NOTIFIED THE CHIEF NAME AND OBLIGATIONS OF THE PERSONS WHO
WILL BE ON BOARD.

22.5 COMMUNICATION TO THE PARTIES: CONTACT INFORMATION.

22.5.1JM SHIP SERVICE / CONTACT PERSON / JUAN / MOVIL PHONE NUMBER

+50762793361 / EMAIL .

22.5.2 AIRSA / CONTACT PERSON / HENRY CRUZ/ MOVIL +505 8406 2038 /
E MAIL – XXXXXXXXXXXXXX.

22.5.3 JM SHIP SERVICE PANAMA / CONTACT PERSON / JUAN M GONZALEZ /

MOVIL +507 62793361 / E MAIL XXXXX

22.5.3 CAPITAN / CONTACT PERSON / XXXXXX / MOVIL XXXX / E MAIL

XXXXX

22.6 ANY COMMUNICATION IN CONNECTION WITH THIS CONTRACT MUST BE IN

WRITING AND, UNLESS OTHERWISE STATED, MAY BE DELIVERED BY E-MAIL,
BY COURIER SERVICE OR BY FAX. UNLESS IT IS AGREED TO THE CONTRARY,
ANY CONSENT OR AGREEMENT REQUIRED UNDER THIS CONTRACT MUST BE GIVEN
IN WRITING.

22.7 LEGAL ADDRESSES

22.7.1 COMPANY NAME /XXXXXXX

ADDRESS:

22.7.2 COMPANY NAME /

ADDRESS: XXXXXX.

22.7.3 COMPANY NAME / JM SHIP SERVICE PANAMA

XXXX

23. SPECIAL CONDITION

23.1. OWNER & CHARTERED WARRANTS THAT IT HAS EXERTED AND SHALL
CONTINUE TO EXERT ITS BEST EFFORTS TO AVOID ANY ACTION, WHICH MIGHT
BE IN ANY MANNER DETRIMENTAL TO SELLER’S INTEREST IN THE
NEGOTIATION, EXECUTION AND PERFORMANCE OF THIS CONTRACT.

23.2. THE PARTIES HEREBY AGREE THAT ALL TERMS, WHICH ARE NOT
SPECIFICALLY CONFIRMED AND AGREED UPON IN THIS CONTRACT, MUST BE

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REFERRED TO THE GENERAL RULES OF THE ICC INCOTERMS EDITION 2010

WITH LATEST AMENDMENTS.

23.3. THE DELIVERY SCHEDULE MUST REPORT THE DATES VESSEL’S AND
THE QUANTITY TO BE LOADED.

24. CLAIMS

24.1. ANY CLAIMS THAT EITHER PARTY MAY HAVE, DUE TO AN

OCCURRENCE, HAS TO MUST BE SUBMITTED TO THE OTHER PARTY WITHIN A
PERIOD OF TWO (2) WEEKS FROM THE DATE OF THAT OCCURRENCE.

24.2. IF THE QUALITY OF ANY ONE OF THE DELIVERED BATCHES FAILS

TO COMPLY WITH THE CONTRACTUAL SPECIFICATION, THEN THE BUYER SHALL
HAVE THE OPTION TO REFUSE THE SAID BATCH PRIOR TO THE COMMENCEMENT
OF THE DISCHARGE OPERATIONS.

24.3. IF WITHIN THIRTY - (30) CALENDAR DAYS FROM DATE OF

DISCHARGE OF VESSEL, THE BUYER FAILS TO INFORM THE SELLER
CONFIRMING THE NON – COMPLIANCE, THE COMMODITY WILL BE DEEMED TO
HAVE BEEN ACCEPTED BY THE BUYER, AND THE SELLER WILL ACCEPT NO
CLAIM.

24.4. ALL CLAIMS WILL BE EXECUTED IN WRITING AND BOTH PARTIES

AGREE TO ACKNOWLEDGE SUCH CLAIMS BY WRITTEN ACCEPTANCE THEREOF.

25. CONFIDENTIALITY NON – DISCLOSURE / NON-CIRCUMVENTION

25.1 THE UNDERSIGNED PARTIES DO HEREBY ACCEPT AND AGREE TO THE

PROVISIONS OF THE INTERNATIONAL CHAMBER OF COMMERCE FOR NON –
CIRCUMVENTION AND NON – DISCLOSURE WITH REGARDS TO ALL AND ANYONE
OF THE PARTIES IN THIS TRANSACTION.

25.2 TO INCLUDE BUT NOT LIMITED TO THE BUYER, SELLER, THEIR

AGENTS, MANDATES, NOMINEES, ASSIGNEES, AND ALL INTERMEDIATES PARTY
TO THIS AGREEMENT/CONTRACT.

25.3 THIS AGREEMENT SHALL BE KEPT IN THE STRICTEST CONFIDENCE

BETWEEN THEM FOR AT LEAST FIVE (5) YEARS FROM THE DATE HEREOF.

25.4 NEITHER PARTY IS ENTITLED TO TRANSFER THEIR RIGHTS AND/OR

OBLIGATIONS UNDER THIS CONTRACT TO A THIRD PARTY WITH EXCEPTIONS OF
FINANCIAL AGENT OF THE OWNER/CHARTERER, AND EXCEPT WHERE THE THIRD
PARTY IS AN ENTITY WHOSE MAJORITY OWNERSHIP IS THE SAME AS THE
ORIGINAL OWNERSHIP CONTRACT PARTNER. IN ANY CASE THE TRANSFERRING
PARTY WILL NOTIFY THE OTHER PARTY IN WRITING (INCLUDING EMAIL).
AFTER SIGNING THE PRESENT CONTRACT ALL PREVIOUS NEGOTIATIONS AND
CORRESPONDENCE BETWEEN THE PARTIES IN THIS CONNECTION WILL BE
CONSIDERED NULL AND VOID. IF THE SELLER CEASES THE CONTRACT FOR ANY
REASON OR FAILS TO COMPLY WITH THE CONDITIONS THEREOF, PERFORMANCE
BOND SHALL ENTER INTO FORCE.

26. SHIPPING DOCUMENTS

26.1 A FULL SET OF 3/3 ORIGINALS PLUS 3 N/N COPIES OF OCEAN BILL OF
LADING MADE OUT “CLEAN ON BOARD” MARKED “FREIGHT PRE – PAID”.

26.2 FULL SET, (INCLUDING ONE ORIGINAL AND ONE COPY) OF INSURANCE
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POLICY FOR 110% OF THE INVOICE VALUE AGAINST ALL RISK ADDITIONAL
WAR RISK AND MAKING CHARTERER AS BENEFICIARY.

26.3 ANY OTHER DOCUMENTS PERTAINING OR RELATED TO THE CURRENT TRIP

ARE CONFIDENTIAL AND IS NOT AUTHORIZED TO DIVULGATE, COPY OR RESEND
TO ANY ONE WITH OUT WRITEN CONCENT OF THE CHARTERER.

BY THE SIGNATURES BELOW, THE PARTIES AFFIRM THEY ARE AUTHORIZED

SIGNATORIES OF THEIR COMPANY AND EACH HAS HAD ADEQUATE OPPORTUNITY
TO REVIEW WITH THEIR LEGAL COUNSEL AND HAS UNDERSTOOD, AGREED AND
ACCEPTED THIS SALES AND PURCHASE AGREEMENT EFFECTIVE AS OF THE DATE
STATED ABOVE AND SIGNED.

ALL PARTIES TO THIS AGREEMENT HEREBY AGREE TO BE BOUND BY THE TERMS

AND CONDITIONS STIPULATED HEREIN WITHOUT CHANGE.

NOVEMBER 14, 2022

VESSEL OPERATOR THE CHARTERERS THE CHARTERERS

JUAN M GONZALEZ
JM SHIP SERVICES

**END OF THE CONTRACT**

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