1.

Place and date of contract: BIMCO

Panama. VOYAGE CHARTER PARTY FOR OFFSHORE SERVICE VESSELS
CODE NAME: Oil Products Tanker
May 05 , 2023
th
PART
Revised 1989 and 2005.

CHARTER PARTY ALOAR-JMSHIPSERVICE-2023-0405

I
First issued 1975.

2. Owners/Place of business (full style, address, e-mail and fax no.) 3. Charterers/Place of business (full style, address, and e-mail and
INVERSIONES ALOAR,C.A fax no.):
JM SHIP SERVICE PANAMA,
PAITILLA OFFICE TOWER, OFC. T-1001, Av. Octava y calle 56, Punta Provincia de PANAMA, distrito
Pacífica, Panamá. de PANAMA,
Corregimiento de balboa calle
[email protected] PRINCIPAL, PLAZA, APTO /
oficina 78B
[email protected]
4. Vessel´s name and IMO number (ANNEX A) 5. Date of delivery (Cl. 2(a) and 6. Cancelling date (Cl. 2(a) and
PROSPERITY - IMO# 7715422 (c)) (c))
Oil Products Tanker – Official # TBN 14/05/2023/ NCSA
7. Port or Place of delivery (Cl. 2(a)): 8. Port or place redelivery/notice of redelivery (Cl. 2(d))
NCSA. (i)Port or place of redelivery
N/A

(ii)Number of days´ notice of redelivery

N/A
9. Period of hire (Cl. 1(a)) 10. Extension of period of hire (optional) (Cl. 1(b))
1 Voyage Charter (i)Period of extension
(01) Voyage Charter

(ii)Advance notice for declaration of option (days):

(iii) 5 days
International Support Vessel Owners’

11. Automatic extension period to complete voyage or well (Cl. 1(c)) 12. Mobilization charge (Cl. 2(b)(i))
(i)Voyage or well (state which) (i)Voyage Charter
Association (ISOA), London

USD 175.000,00
To complete voyager Charter.
(ii)When due
(ii)Maximum extension period (state number of days) N/A
Adopted by

13. Early termination of charter (state amount of hire payable) (Cl. 14 Number of days´ notice of 15. Demobilization charge (lump sum)
31(a)) early termination (Cl. 31(a)) (Cl. 2(e) and Cl. 31 (a))
(i)State yes, if applicable
N/A USD 0
Yes

(ii)If yes, state amount of hire payable

Remainder of monthly period of hire or extension

16. Area of operation (Cl. 6(a)) 17. Employment of vessel restricted to (state nature of services(s)) (Cl.
NCSA-GUATEMALA 6(a))
Always within the vessel’s specifications and loading limits
18. Specialist operations (Cl. 6(a)) 19. Bunkers (Cl. 10)
(i) State if vessel may be used for ROV (i) Quantity of bunkers on delivery and redelivery
operations NO (ii) (As per On-hire survey)Price of bunkers on delivery
As per cost at Port of departure. Owners to provide evidence
(ii) State if vessel may be employed as a diving of rate.
platform NO (iii) Price for bunkers on redelivery
As per cost at Port of redelivery on redelivery date

(iv) Fuel specifications and grades for fuel supplied by Charterers

Ultra-low sulfur Marine Gas Oil consistent with the Material Safety
Data
attached
20. Charter hire (state rate and currency) (Cl. 12(a) , (d) and (e)) 21. Extension hire (if agreed, state rate) (Cl 12(b))
USD 175.000,00 Voyage Charter. Includes of fuel and lubes
Copyright, published by
BIMCO, Copenhagen

22. Invoicing for hire and other payments (Cl 12(d)) 23. Payments (state mode and place of payment; also state beneficiary and bank
(i) State whether to be issued in advance or arrears account ) (Cl 12(e))
Invoice and payment to be 30% upon CPA with inspection
Via bank transfer in United States Dollars as per Bank details
signature, 50% before loading and 20% at destination port
provided on the individual invoice.
before unloading.
(ii) Others as specified. PANAMA CANAL COST IN OWNERS
ACCOUNT. continued
(iii) State by whom to be issued if other than the party stated in Box
2N/A
Printed and sold by Fr. G. Knudtzons Bogtrykkeri A/S, Vallensbaekvej 61, DK-2625 Vallensbaek. Fax: +45 4366 0708
PART II
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(Continued) Supply time 2005 Time Charter Party for Offshore Service Vessels PART l

24. Payment of hire, bunker invoices and disbursements for Charterers’ account 25. Interest rate payable (Cl. 12(e)) 26. Maximum audit period (Cl.
(state maximum number of days) (Cl. 12(e)) 2.5% P.A. 12(g)) 2 years
Invoice and payment to be 30% upon CPA with inspection
signature, 50% before loading and 20% at destination port
before unloading. PANAMA CANAL COST IN OWNERS
ACCOUNT.

27. Meals (state rate agreed) (Cl. 6(c)(i)) 28. Accommodation (state rate 29. Sublet (state amount of daily increment of charter hire) (Cl. 20)
NA agreed) (Cl. 6(c)(i)) As per Box 20
NA

30. War Cancellation (indicate countries agreed) (Cl. 23)

Trinidad & Tobago

31. General Average (Place of settlement – only to be filled in if other than London) (Cl. 26) N/A

32. Taxes (Payable by Owners) (Cl. 30): N/A – In view of Tax exemption letter received from Staatsolie for the duration of the contract.

33. Breakdown (State period) (Cl. 31(b)(v))

96 Hours

34. Dispute resolution (state (a), (b) or (c) of Cl. 34, as agreed; if (c) agreed also state Place of Arbitration) (Cl. 34)
(c) Republic of Panama

35. Numbers of additional clauses covering special provisions, if agreed.

None

It is mutually agreed that this Contract shall be performed subject to the conditions contained in the Charter consisting of PART l, including additional clauses, if
any agreed and stated in Box35, and PART ll well as ANNEX“A” and ANNEX“B” as annexed to this Charter. In the event of a conflict of conditions, the
provisions of PART l shall prevail over those of PART ll and ANNEX “A” and ANNEX “B” to the extent of such conflict but no further.

Signature (Owners) Signature (Owners)

INVERSIONES ALOAR,C.A JM SHIP SERVICE PANAMA
Hugo Lobato Juan M. Gonzales.

Definitions p
“Owners” shall mean the party stated in Box 2 1. Charter Period r
“Charterers” shall mean the party stated in Box 3 (a) The Owners let and the Charterers hire s
“Vessel” shall mean the vessel named in Box 4 and the Vessel for the period as stated in Box 9 t
with particulars stated in ANNEX “A” from the time the Vessel is delivered to the n
“Well” shall mean the time required to drill, test, Charterers. t
complete and/or abandon a single borehole including (b) Subject to Clause 12(b), the Charterers e
any side-track thereof. have the option to extend the Charter Period in e
“Offshore Unit ” shall mean any vessel, offshore direct continuation for the period stated in Box t
installation, structure and/or mobile unit used in 10(i), but such an option must be declared in p
offshore exploration, construction, pipe-laying or accordance with Box 10(ii). d
repair, exploitation or production. (c) The Charter Period shall automatically s
“Employees” shall mean employees, directors, be extended for the time required to complete the d
officers, servants, agents or invitees. voyage or well (whichever is stated in Box 11(i)) in B
1
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SUPPLYTIME 2005 Time Charter Party for Offshore Service Vessels
. any
1 the expiration or earlier termination of this Charter
good
Party
2. Delivery and Redelivery and
2 free of cargo and with clean tanks at the port or place
(a) Delivery. - Subject to Clause 2(b) the Vessel safe
3 as stated in Box 8(i) or such other port or place as
shall be delivered by the Owners free of cargo and port
may
with clean tanks at any time between the date stated or
4 be mutually agreed. The Charterers shall give not place
in Box 5 and the date stated in Box 6 at the port or less
place stated in Box 7 where the Vessel can safely lie and
5 than the number of days notice in writing of their any
always afloat. intention
(b) Mobilisation. – place
6 to redeliver the Vessel, as stated in Box 8(ii). or
(i) The Charterers shall pay a lump sum 7 (e) Demobilisation. - The Charterers shall pay a lump offshor
mobilisation charge as stated in Box 12 without 8 sum demobilisation charge without discount in the
discount. e
amount unit
(ii) Should the Owners agree to the Vessel loading 9 as stated in Box 15 which amount shall be paid on wher
and transporting cargo and/or undertaking any the e the
other service for the Charterers en route to the 10 expiration or on earlier termination of this Charter Party. Vess
port of delivery or from the port of redelivery, 11 el
then all terms and conditions of this Charter 12 3. Condition of Vessel can
Party shall apply to such loading and 13 (a) The Owners undertake that at the date of delivery safel
transporting and/or other service exactly as if 14 under this Charter Party the Vessel shall be of the y lie
performed during the Charter Period excepting description and Class as specified in ANNEX “A”, alwa
only that any lump sum freight agreed in respect 15 attached hereto, and in a thoroughly efficient state of ys
thereof shall be payable and earned on 16 hull and machinery. afloat
shipment or commencement of the service as 17 (b) The Owners shall exercise due diligence to withi
the case may be, the Vessel and/ or goods lost
18 maintain the Vessel in such Class and in every way fit n the
or not lost. Area
19 for the service stated in Clause 6 throughout the
(c) Cancelling. - If the Vessel is not delivered by period of
midnight local time on the cancelling date stated in 20 of this Charter Party. Oper
Box 6, the Charterers shall be entitled to cancel this 21 ation
Charter Party. However, if the Owners will be unable 22 4. Structural Alterations and Additional Equipment as
to deliver the Vessel by the cancelling date, they may state
23 The Charterers shall, at their expense, have the
give notice in writing to the Charterers at any time prior option d in
to the delivery date as stated in Box 5 and shall state 24 of making structural alterations to the Vessel or Box
in such notice the date by which they will be able to installing 16
deliver the Vessel. The Charterers may within 24 25 additional equipment with the written consent of the which
hours of receipt of such notice give notice in writing to shall
26 Owners, which shall not be unreasonably withheld.
the Owners cancelling this Charter Party. If the alwa
Unless otherwise agreed, the Vessel is to be
Charterers do not give such notice, then the later ys
redelivered
date specified in the Owners’ notice shall be be
27 reinstated, at the Charterers’ expense, to her original
substituted for the cancelling date for all the purposes withi
28 condition. The Vessel is to remain on hire during any n
of this Charter Party. In the event the Charterers
29 period of these alterations or reinstatement. The Inter
cancel the Charter Party, it shall terminate on terms
30 Charterers shall at all times be responsible for repair natio
that neither party shall be liable to the other for any
31 and maintenance of any such alteration or additional nal
losses incurred by reason of the non-delivery of the
32 equipment. However, the Owners may, upon giving Navi
Vessel or the cancellation of the Charter Party.
33 notice, undertake any such repair and maintenance at gatio
(d) Redelivery. - The Vessel shall be redelivered on
34 the Charterers’ expense, when necessary for the safe n
35 and efficient performance of the Vessel. Limits
36 and
37 5. Survey whic
38 The Owners and the Charterers shall jointly appoint h
an shall
39 independent surveyor for the purpose of determining in no
40 and agreeing in writing, the condition of the Vessel, circu
any msta
41 anchor handling and towing equipment specified in nces
42 ANNEX “A”, and the quality and quantity of fuel, be
43 lubricants and water at the time of delivery and exce
redelivery eded
44 hereunder. The Owners and the Charterers shall without
jointly prior
45 share the time and expense of such surveys. agre
46 eme
47 6. Employment and Area of Operation nt
48 (a) The Vessel shall be employed in offshore and
activities adjus
49 which are lawful in accordance with the law of the tmen
place t of
the
50 of the Vessel’s flag and/or registration and of the
Hire
place
and
51 of operation. Such activities shall be restricted to the
in
52 service(s) as stated in Box 17, and to voyages
accor
between
PART II
SUPPLYTIME 2005 Time Charter Party for Offshore Service Vessels
dance with such other terms as appropriate to
67
60 be agreed; provided always that the Charterers do not
68
61 warrant the safety of any such port or place or offshore
69
62 unit but shall exercise due diligence in issuing their
70
63 orders to the Vessel as if the Vessel were their own
71
64 property and having regard to her capabilities and the
72
65 nature of her employment.
73
66 Unless otherwise stated in Box 18(i), the Charterers
74
75
76

77
78
79
80
81
82
83
84
85
86

87
88
89
90
91
92
93
94
95
96
97
98
99
100
101

102
103
104
105
106
107
108
109
110

111
112
113
114
115
116
117
118
119
120
121
122
123
124
125
126
127
128
129
130
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shall not have the right to use the Vessel for ROV 131 (ii) (1) No Bills of Lading shall be issued for 198
operations. Unless otherwise stated in Box 18(ii), the 132 shipments under this Charter Party. 199
Vessel shall not be employed as a diving platform. 133 (2) The Master shall sign cargo documents as 200
(b) Relevant permission and licences from responsible 134 directed by the Charterers in the form of receipts 201
authorities for the Vessel to enter, work in and leave 135 that are non-negotiable documents and which are 202
the Area of Operation shall be obtained by the 136 clearly marked as such. 203
Charterers and the Owners shall assist, if necessary, 137 (3) The Charterers shall indemnify the Owners 204
in every way possible to secure such permission and 138 against all liabilities that may arise from the 205
signing
licences. 139 of such cargo documents in accordance with the 206
(c) The Vessel’s Space. - The whole reach and burden 140 directions of the Charterers to the extent that the 207
and decks of the Vessel shall throughout the Charter 141 terms of such cargo documents impose more 208
Period be at the Charterers’ disposal reserving proper 142 onerous liabilities than those assumed by the 209
and sufficient space for the Vessel’s Master, Officers, 143 Owners under the terms of this Charter Party. 210
Crew, tackle, apparel, furniture, provisions and stores. 144 (b) The Vessel’s Crew if required by Charterers will 211
The Charterers shall be entitled to carry, so far as space 145 connect and disconnect electric cables, fuel, water 212
and
is available and for their purposes in connection with 146 pneumatic hoses when placed on board the Vessel in 213
their operations: 147 port as well as alongside the offshore units; will 214
operate
(i) Persons other than crew members, other than fare 148 the machinery on board the Vessel for loading and 215
paying, and for such purposes to make use of 149 unloading cargoes; and will hook and unhook cargo 216
on
the Vessel’s available accommodation not being 150 board the Vessel when loading or discharging 217
alongside
used on the voyage by the Vessel’s Crew. The 151 offshore units. If the port regulations or the seamen 218
and/
Owners shall provide suitable provisions and 152 or labour unions do not permit the Crew of the Vessel 219
to
requisites for such persons for which the 153 carry out any of this work, then the Charterers shall 220
make,
Charterers shall pay at the rate as stated in Box 154 at their own expense, whatever other arrangements 221
may
27 per meal and at the rate as stated in Box 28 155 be necessary, always under the direction of the 222
Master.
per day for the provision of bedding and services 156 (c) If the Charterers have reason to be dissatisfied 223
for persons using berth accommodation. 157 with the conduct of the Master or any Officer or 224
member
(ii) Lawful cargo whether carried on or under deck. 158 of the Crew, the Owners on receiving particulars of the 225
(iii) Explosives and dangerous cargo whether in bulk 159 complaint shall promptly investigate the matter and if 226
or packaged, provided proper notification has 160 the complaint proves to be well founded, the Owners 227
been given and such cargo is marked and packed 161 shall as soon as reasonably possible make 228
appropriate
in accordance with the national regulations of the 162 changes in the appointment. 229
Vessel and/or the International Maritime Danger- 163 (d) The entire operation, navigation, and management 230
ous Goods Code and/or other pertinent regula- 164 of the Vessel shall be in the exclusive control and 231
tions. Failing such proper notification, marking or 165 command of the Owners, their Master, Officers and 232
packing the Charterers shall indemnify the Own- 166 Crew. The Vessel will be operated and the services 233
ers in respect of any loss, damage or liability 167 hereunder will be rendered as requested by the 234
whatsoever and howsoever arising therefrom. The 168 Charterers, subject always to the exclusive right of the 235
Charterers accept responsibility for any additional 169 Owners or the Master of the Vessel to determine 236
expenses (including reinstatement expenses) in- 170 whether operation of the Vessel may be safely 237
curred by the Owners in relation to the carriage 171 undertaken. In the performance of the Charter Party, 238
of explosives and dangerous cargo. 172 the Owners are deemed to be an independent 239
(iv) Hazardous or noxious substances, subject to 173 contractor, the Charterers being concerned only with 240
Clause 14(f), proper notification and any pertinent 174 the results of the services performed. 241
regulations. 175
(d) Laying-up of Vessel. - The Charterers shall have 176 8. Owners to Provide 242
the option of laying up the Vessel at an agreed safe 177 (a) The Owners shall provide and pay for all 243
port or place for all or any portion of the Charter Period 178 provisions, wages and all other expenses of the 244
Master,
in which case the Hire hereunder shall continue to be 179 Officers and Crew; all maintenance and repair of the 245
paid but, if the period of such lay-up exceeds 30 180 Vessel’s hull, machinery and equipment as specified in 246
consecutive days, there shall be credited against such 181 ANNEX “A”; also, except as otherwise provided in this 247
Hire the amount which the Owners shall reasonably 182 Charter Party, for all insurance on the Vessel, all dues 248
have saved by way of reduction in expenses and 183 and charges directly related to the Vessel’s flag and/or 249
overheads as a result of the lay-up of the Vessel. 184 registration, all deck, cabin and engineroom stores, 250
cordage required for ordinary ship’s purposes mooring 251
7. Master and Crew 185 alongside in harbour, and all fumigation expenses and 252
(a) (i) The Master shall carry out his duties promptly 186 de-ratisation certificates. The Owners’ obligations 253
under
and the Vessel shall render all reasonable 187 this Clause extend to cover all liabilities for consular 254
services within her capabilities by day and by night 188 charges appertaining to the Master, Officers and Crew, 255
PART II
SUPPLYTIME 2005 Time Charter Party for Offshore Service Vessels
and at such times and on such schedules as the 189 customs or import duties arising at any time during the 256
Charterers may reasonably require without any 190 performance of this Charter Party in relation to the 257
obligations of the Charterers to pay to the Owners 191 personal effects of the Master, Officers and Crew, and 258
or the Master, Officers or the Crew of the Vessel 192 in relation to the stores, provisions and other matters 259
any excess or overtime payments. The Charterers 193 as aforesaid which the Owners are to provide and/or 260
shall furnish the Master with all instructions and 194 pay for and the Owners shall refund to the Charterers 261
sailing directions and the Master and Engineer 195 any sums they or their agents may have paid or been 262
shall keep full and correct logs accessible to the 196 compelled to pay in respect of such liability. 263
Charterers or their agents. 197 (b) On delivery the Vessel shall be equipped, if 264
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SUPPLYTIME 2005 Time Charter Party for Offshore Service Vessels

appropriate, at the Owners’ expense with any towing and 265 which fuels of the required type or better are available. 331
anchor handling equipment specified in ANNEX “A”. 266 (b) Purchase Price. – The Charterers shall purchase 332
the fuels on board at delivery at the price prevailing at 333
9. Charterers to Provide 267 the time and port of delivery unless otherwise stated in 334
(a) While the Vessel is on hire the Charterers shall 268 Box 19 (ii) and the Owners shall purchase the fuels on 335
provide and pay for all fuel, lubricants, water, 269 board at redelivery at the price prevailing at the time 336
dispersants, firefighting foam and transport thereof, port 270 and port of redelivery unless otherwise stated in Box 337
charges, pilotage and boatmen and canal steersmen 271 19 (iii). The Charterers shall purchase the lubricants 338
(whether compulsory or not), launch hire (unless 272 on board at delivery at the list price and the Owners 339
incurred in connection with the Owners’ business), light 273 shall purchase the lubricants on board at redelivery at 340
dues, tug assistance, canal, dock, harbour, tonnage and 274 the list price. 341
other dues and charges, agencies and commissions 275 (c) Bunkering. – The Charterers shall supply fuel of the 342
incurred on the Charterers’ business, costs for security 276 specifications and grades stated in Box 19 (iv). The 343
fuels
or other watchmen, and of quarantine (if occasioned 277 shall be of a stable and homogeneous nature and 344
unless
by the nature of the cargo carried or the ports visited 278 otherwise agreed in writing, shall comply with ISO 345
whilst employed under this Charter Party but not 279 standard 8217:1996 or any subsequent amendments 346
otherwise). 280 thereof as well as with the relevant provisions of 347
(b) At all times the Charterers shall provide and pay 281 MARPOL. The Chief Engineer shall co-operate with 348
the
for the loading and unloading of cargoes so far as not 282 Charterers’ bunkering agents and fuel suppliers and 349
done by the Vessel’s crew, cleaning of cargo tanks, all 283 comply with their requirements during bunkering, 350
necessary dunnage, uprights and shoring equipment 284 including but not limited to checking, verifying and 351
for securing deck cargo, all cordage except as to be 285 acknowledging sampling, reading or soundings, 352
meters
provided by the Owners, all ropes, slings and special 286 etc. before, during and/or after delivery of fuels. During 353
runners (including bulk cargo discharge hoses) actually 287 delivery four representative samples of all fuels shall 354
be
used for loading and discharging, inert gas required for 288 taken at a point as close as possible to the Vessel’s 355
the protection of cargo, and electrodes used for offshore 289 bunker manifold. The samples shall be labelled and 356
works, and shall reimburse the Owners for the actual 290 sealed and signed by suppliers, Chief Engineer and 357
the
cost of replacement of special mooring lines to offshore 291 Charterers or their agents. Two samples shall be 358
retained
units, wires, nylon spring lines etc. used for offshore 292 by the suppliers and one each by the Vessel and the 359
works, all hose connections and adaptors, and further, 293 Charterers. If any claim should arise in respect of the 360
shall refill oxygen/acetylene bottles used for offshore 294 quality or specification or grades of the fuels supplied, 361
works. 295 the samples of the fuels retained as aforesaid shall be 362
(c) Upon entering into this Charter Party or in any 296 analysed by a qualified and independent laboratory. 363
event no later than the time of delivery of the Vessel 297 (d) Liability. – The Charterers shall be liable for any 364
the Charterers shall provide the Owners with copies of 298 loss or damage to the Owners caused by the supply of 365
any operational plans or documents which are 299 unsuitable fuels or fuels which do not comply with the 366
necessary for the safe and efficient operation of the 300 specifications and grades set out in Box 19 (iv) and 367
the
Vessel. All documents received by the Owners shall be 301 Owners shall not be held liable for any reduction in the 368
returned to the Charterers on redelivery. 302 Vessel’s speed performance and/or increased bunker 369
(d) The Charterers shall pay for customs duties, all 303 consumption nor for any time lost and any other 370
permits, import duties (including costs involved in 304 consequences arising as a result of such supply. 371
establishing temporary or permanent importation 305
bonds), and clearance expenses, both for the Vessel 306 11. BIMCO ISPS/MTSA Clause for Time Charter 372
Parties
and/or equipment, required for or arising out of this 307 (a) (i) The Owners shall comply with the requirements 373
Charter Party. 308 of the International Code for the Security of Ships 374
(e) The Charterers shall pay for any replacement of 309 and of Port Facilities and the relevant 375
amendments
any anchor handling/towing/lifting wires and accessories 310 to Chapter XI of SOLAS (ISPS Code) relating to 376
which have been placed on board by the Owners or the 311 the Vessel and “the Company” (as defined by the 377
Charterers, should such equipment be lost, damaged or 312 ISPS Code). If trading to or from the United 378
States
become unserviceable, other than as a result of the 313 or passing through United States waters, the 379
Owners’ negligence. 314 Owners shall also comply with the requirements 380
(f) The Charterers shall pay for any fines, taxes or 315 of the US Maritime Transportation Security Act 381
imposts levied in the event that contraband and/or 316 2002 (MTSA) relating to the Vessel and the 382
unmanifested drugs and/or cargoes are found to have 317 “Owner” (as defined by the MTSA). 383
been shipped as part of the cargo and/or in containers 318 (ii) Upon request the Owners shall provide a copy of 384
on board. The Vessel shall remain on hire during any 319 the relevant International Ship Security Certificate 385
time lost as a result thereof. However, if it is established 320 (or the Interim International Ship Security 386
that the Master, Officers and/or Crew are involved in 321 Certificate) to the Charterers. The Owners shall 387
smuggling then any financial security required shall be 322 provide the Charterers with the full style contact 388
provided by the Owners. 323 details of the Company Security Officer (CSO). 389
(iii) Except as otherwise provided in this Charter Party, 390
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SUPPLYTIME 2005 Time Charter Party for Offshore Service Vessels
10. Bunkers 324 loss, damages, expense or delay (excluding 391
(a) Quantity at Delivery/Redelivery.– The Vessel shall 325 consequential loss, damages, expense or delay) 392
be delivered with at least the quantity of fuel as stated 326 caused by failure on the part of the Owners or 393
in Box 19 (i) and the Vessel shall be redelivered with 327 “the Company”/”Owner” to comply with the 394
about the same quantity as on delivery, provided always 328 requirements of the ISPS Code/MTSA or this 395
that the quantity of fuels at redelivery is at least sufficient 329 Clause shall be for the Owners’ account. 396
to allow the Vessel to safely reach the nearest port at 330 (b) (i) The Charterers shall provide the Owners and 397
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SUPPLYTIME 2005 Time Charter Party for Offshore Service Vessels

the Master with their full style contact details

398 and disbursements for the Charterers’ account shall 465
and, upon request, any other information the
399 be received within the number of days stated in Box 466
Owners require to comply with the ISPS
400 24 from the date of receipt of the invoice. Payment 467
Code/MTSA. Furthermore, the Charterers shall
401 shall be made in the currency stated in Box 20 in full 468
ensure that all sub-charter parties they enter
402 without discount to the account stated in Box 23. 469
into during the period of this Charter Party
403 However, any advances for disbursements made on 470
contain the following provision:
404 behalf of and approved by the Owners may be 471
“The Charterers shall provide the Owners with
405 deducted from Hire due. 472
their full style contact details and, where sub-
406 If payment is not received by the Owners within 5 473
letting is permitted under the terms of the charter
407 banking days following the due date the Owners are 474
party, shall ensure that the contact details of all
408 entitled to charge interest at the rate stated in Box 25 475
sub-charterers are likewise provided to the
409 on the amount outstanding from and including the 476
Owners”.
410 due date until payment is received. 477
(ii) Except as otherwise provided in this Charter
41 Where an invoice is disputed, the Charterers shall 478
Party, loss, damages, expense or delay
1 notify the Owners before the due date and in any 479
(excluding consequential loss, damages,
412 event pay the undisputed portion of the invoice but 480
expense or delay) caused by failure on the part
413 shall be entitled to withhold payment of the disputed 481
of the Charterers to comply with this Clause
414 portion provided that such portion is reasonably 482
shall be for the Charterers’ account.
415 disputed and the Charterers specify such reason. 483
(c) Notwithstanding anything else contained in this
416 Interest will be chargeable at the rate stated in Box 484
417 25 on such disputed
Charter Party all delay, costs or expenses whatsoever 418 amounts where resolved in favour of the Owners. 485
arising out of or related to security regulations or 419 Should the Owners prove the validity of the disputed 486
measures required by the port facility or any relevant 420 portion of the invoice, balance payment shall be 487
received
authority in accordance with the ISPS Code/MTSA 421 by the Owners within 5 banking days after the dispute 488
including, but not limited to, security guards, launch 422 is resolved. Should the Charterers’ claim be valid, a 489
services, tug escorts, port security fees or taxes and 423 corrected invoice shall be issued by the Owners. 490
inspections, shall be for the Charterers’ account, unless 424 (f) (i) Where there is a failure to pay Hire by the due 491
such costs or expenses result solely from the Owners’ 425 date, the Owners shall notify the Charterers in 492
negligence. All measures required by the Owners to 426 writing of such failure and further may also 493
suspend
comply with the Ship Security Plan shall be for the 427 the performance of any or all of their obligations 494
Owners’ account. 428 under this Charter Party until such time as all the 495
(d) If either party makes any payment which is for the 429 Hire due to the Owners under the Charter Party 496
other party’s account according to this Clause, the other 430 has been received by the Owners. Throughout 497
any
party shall indemnify the paying party. 431 period of suspended performance under this 498
Clause, the Vessel is to be and shall remain on 499
12. Hire and Payments 432 Hire. The Owners’ right to suspend performance 500
(a) Hire. - The Charterers shall pay Hire for the Vessel 433 under this Clause shall be without prejudice to 501
any
at the rate stated in Box 20 per day or pro rata for part 434 other rights they may have under this Charter 502
Party.
thereof from the time that the Vessel is delivered to the 435 (ii) If after 5 days of the written notification referred 503
Charterers until the expiration or earlier termination of 436 to in Clause 12(f)(i) the Hire has still not been 504
this Charter Party. 437 received the Owners may at any time while Hire 505
(b) Extension Hire. - If the option to extend the Charter 438 remains outstanding withdraw the Vessel from 506
the
Period under Clause 1(b) is exercised, Hire for such 439 Charter Party. The right to withdraw is to be 507
extension shall, unless stated in Box 21, be agreed 440 exercised promptly and in writing and is not 508
between the Owners and the Charterers. Should the 441 dependent upon the Owners first exercising the 509
parties fail to reach an agreement, then the Charterers’ 442 right to suspend performance of their obligations 510
shall not have the option to extend the Charter Period. 443 under the Charter Party pursuant to Clause 12(f) 511
(i)
(c) Adjustment of Hire. - The rate of hire shall be 444 above. The receipt by the Owners of a payment 512
adjusted to reflect documented changes, after the date 445 from the Charterers after the five day period 513
of entering into the Charter Party or the date of 446 referred to above has expired but prior to the 514
commencement of employment, whichever is earlier, 447 notice of withdrawal shall not be deemed a 515
waiver
in the Owners’ costs arising from changes in the 448 of the Owners’ right to cancel the Charter Party. 516
Charterers’ requirements, or regulations governing the 449 (iii) Where the Owners choose not to exercise any of 517
Vessel and/or its Crew or this Charter Party or the 450 the rights afforded to them by this Clause in 518
application thereof. 451 respect of any particular late payment of Hire, or 519
(d) Invoicing. - All invoices shall be issued in the 452 a series of late payments of Hire, under the 520
contract currency stated in Box 20. In respect of 453 Charter Party, this shall not be construed as a 521
reimbursable expenses incurred in currencies other than 454 waiver of their right either to suspend 522
performance
the contract currency, the rate of exchange into the 455 under Clause 12(f)(i) or to withdraw the Vessel 523
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contract currency shall be that quoted by the Central 456 from the Charter Party under Clause 12(f)(ii) in 524
Bank of the country of such other currency as at the 457 respect of any subsequent late payment under 525
date of the Owners’ invoice. Invoices covering Hire and 458 this Charter Party. 526
any other payments due shall be issued monthly as 459 (iv) The Charterers shall indemnify the Owners in 527
stated in Box 22(i) or at the expiration or earlier 460 respect of any liabilities incurred by the Owners 528
termination of this Charter Party. Notwithstanding the 461 under the Bill of Lading or any other contract of 529
foregoing, bunkers and lubricants on board at delivery 462 carriage as a consequence of the Owners’ proper 530
shall be invoiced at the time of delivery. 463 suspension of and/or withdrawal from any or all 531
(e) Payments. - Payments of Hire, bunker invoices 464 of their obligations under this Charter Party. 532
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(g) Audit. - The Charterers shall have the right to 533 In the event of less time being taken by the Owners for 600
appoint an independent chartered accountant to audit 534 repairs and drydocking or, alternatively, the Charterers 601
the Owners’ books directly related to work performed 535 not making the Vessel available for all or part of this 602
under this Charter Party at any time after the conclusion 536 time, the Charterers shall, upon expiration or earlier 603
of the Charter Party, up to the expiry of the period stated 537 termination of the Charter Party, pay the equivalent of 604
in Box 26, to determine the validity of the Owners’ 538 the daily rate of Hire then prevailing in addition to Hire 605
charges hereunder. The Owners undertake to make 539 otherwise due under this Charter Party in respect of all 606
their records available for such purposes at their 540 such time not so taken or made available. 607
principal place of business during normal working hours. 541 Upon commencement of the Charter Period, the 608
Owners
Any discrepancies discovered in payments made shall 542 agree to furnish the Charterers with the Owners’ 609
be promptly resolved by invoice or credit as appropriate. 543 proposed drydocking schedule and the Charterers 610
agree to make every reasonable effort to assist the 611
13. Suspension of Hire 544 Owners in adhering to such predetermined drydocking 612
(a) If as a result of any deficiency of Crew or of the 545 schedule for the Vessel. 613
Owners’ stores, strike of Master, Officers and Crew, 546
breakdown of machinery, damage to hull or other 547 14. Liabilities and Indemnities 614
accidents to the Vessel, the Vessel is prevented from 548 (a) Definitions 615
working, no Hire shall be payable in respect of any time 549 For the purpose of this Clause “Owners’ Group” shall 616
lost and any Hire paid in advance shall be adjusted 550 mean: the Owners, and their contractors and sub- 617
accordingly provided always however that Hire shall 551 contractors , and Employees of any of the foregoing. 618
not cease in the event of the Vessel being prevented 552 For the purpose of this Clause “Charterers’ Group” 619
shall
from working as aforesaid as a result of: 553 mean: the Charterers, and their contractors, sub- 620
(i) the carriage of cargo as noted in Clause 6(c)(iii) 554 contractors, co-venturers and customers (having a 621
and (iv); 555 contractual relationship with the Charterers, always 622
with
(ii) quarantine or risk of quarantine unless caused by 556 respect to the job or project on which the Vessel is 623
the Master, Officers or Crew having communication 557 employed), and Employees of any of the foregoing. 624
with the shore at any infected area not in 558 (b) Knock for Knock 625
connection with the employment of the Vessel 559 (i) Owners. - Notwithstanding anything else 626
contained
without the consent or the instructions of the 560 in this Charter Party excepting Clauses 6(c)(iii), 627
Charterers; 561 9(b), 9(e), 9(f), 10(d), 11, 12(f)(iv), 14 (d), 15 (b), 628
(iii) deviation from her Charter Party duties or 562 18(c), 26 and 27, the Charterers shall not be 629
exposure to abnormal risks at the request of the 563 responsible for loss of or damage to the property 630
Charterers; 564 of any member of the Owners’ Group, including 631
(iv) detention in consequence of being driven into port 565 the Vessel, or for personal injury or death of any 632
or to anchorage through stress of weather or 566 member of the Owners’ Group arising out of or in 633
trading to shallow harbours or to river or ports 567 any way connected with the performance of this 634
with bars or suffering an accident to her cargo, 568 Charter Party, even if such loss, damage, injury 635
or
when the expenses resulting from such detention 569 death is caused wholly or partially by the act, 636
shall be for the Charterers’ account howsoever 570 neglect, or default of the Charterers’ Group, and 637
incurred; 571 even if such loss, damage, injury or death is 638
caused
(v) detention or damage by ice; 572 wholly or partially by unseaworthiness of any 639
(vi) any act or omission of the Charterers, their 573 vessel; and the Owners shall indemnify, protect, 640
servants or agents. 574 defend and hold harmless the Charterers from 641
any
(b) Liability for Vessel not Working. – The Owners’ 575 and against all claims, costs, expenses, actions, 642
liability for any loss, damage or delay sustained by the 576 proceedings, suits, demands and liabilities 643
Charterers as a result of the Vessel being prevented 577 whatsoever arising out of or in connection with 644
such
from working by any cause whatsoever shall be limited 578 loss, damage, personal injury or death. 645
to suspension of hire, except as provided in Clause 579 (ii) Charterers . - Notwithstanding anything else 646
11(a)(iii). 580 contained in this Charter Party excepting Clause 647
(c) Maintenance and Drydocking. - Notwithstanding 581 11, 15(a), 16 and 26, the Owners shall not be 648
Clause 13(a), the Charterers shall grant the Owners a 582 responsible for loss of, damage to, or any liability 649
maximum of 24 hours on hire, which shall be 583 arising out of anything towed by the Vessel, any 650
cumulative, per month or pro rata for part of a month 584 cargo laden upon or carried by the Vessel or her 651
from the commencement of the Charter Period for 585 tow, the property of any member of the 652
Charterers’
maintenance and repairs including drydocking 586 Group , whether owned or chartered, including 653
(hereinafter referred to as “maintenance allowance”). 587 their Offshore Units, or for personal injury or 654
death
The Vessel shall be drydocked at regular intervals. The 588 of any member of the Charterers’ Group or of 655
Charterers shall place the Vessel at the Owners’ 589 anyone on board anything towed by the Vessel, 656
disposal clean of cargo, at a port (to be nominated by 590 arising out of or in any way connected with the 657
the Owners at a later date) having facilities suitable to 591 performance of this Charter Party, even if such 658
the Owners for the purpose of such drydocking. 592 loss, damage, liability, injury or death is caused 659
During reasonable voyage time taken in transits 593 wholly or partially by the act, neglect or default of 660
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SUPPLYTIME 2005 Time Charter Party for Offshore Service Vessels
between such port and Area of Operation the Vessel 594 the Owners’ Group, and even if such loss, 661
shall be on hire and such time shall not be counted 595 damage, liability, injury or death is caused wholly 662
against the accumulated maintenance allowance. 596 or partially by the unseaworthiness of any vessel; 663
Hire shall be suspended during any time taken in 597 and the Charterers shall indemnify, protect, 664
maintenance repairs and drydocking in excess of the 598 defend and hold harmless the Owners from any 665
accumulated maintenance allowance. 599 and against all claims, costs, expenses, actions, 666
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proceedings, suits, demands, and liabilities 667 or indirectly, as a result of the Vessel’s carriage of any 735
whatsoever arising out of or in connection with 668 hazardous or noxious substances in whatever form as 736
such loss, damage, liability, personal injury or 669 ordered by the Charterers, and the Charterers shall 737
death. 670 defend, indemnify the Owners and hold the Owners 738
(c) Consequential Damages.- 671 harmless for any expense, loss or liability whatsoever 739
Neither party shall be liable to the other for any 672 or howsoever arising with respect to the carriage of 740
consequential damages whatsoever arising out of or 673 hazardous or noxious substances. 741
in
connection with the performance or non-performance 674
of this Charter Party, and each party shall protect, 675 15. Pollution 742
defend
and indemnify the other from and against all such 676 (a) Except as otherwise provided for in Clause 18(c)(iii), 743
claims
from any member of its Group as defined in Clause 677 the Owners shall be liable for, and agree to indemnify, 744
14(a). 678 defend and hold harmless the Charterers against all 745
“Consequential damages” shall include, but not be 679 claims, costs, expenses, actions, proceedings, suits, 746
limited to, loss of use, loss of profits, shut-in or loss of 680 demands and liabilities whatsoever arising out of 747
actual
production and cost of insurance, whether or not 681 or threatened pollution damage and the cost of 748
cleanup
foreseeable at the date of this Charter Party. 682 or control thereof arising from acts or omissions of the 749
(d) Limitations.- 683 Owners or their personnel which cause or allow 750
Nothing contained in this Charter Party shall be 684 discharge, spills or leaks from the Vessel, except as 751
may
construed or held to deprive the Owners or the 685 emanate from cargo thereon or therein. 752
Charterers, as against any person or party, including 686 (b) The Charterers shall be liable for and agree to 753
as against each other, of any right to claim limitation of 687 indemnify, defend and hold harmless the Owners from 754
liability provided by any applicable law, statute or 688 all claims, costs, expenses, actions, proceedings, 755
suits,
convention, save that nothing in this Charter Party 689 demands, liabilities, loss or damage whatsoever 756
shall arising
create any right to limit liability. Where the Owners or 690 out of or resulting from any other actual or threatened 757
the Charterers may seek an indemnity under the 691 pollution damage, even where caused wholly or 758
partially
provisions of this Charter Party or against each other 692 by the act, neglect or default of the Owners, their 759
in
respect of a claim brought by a third party, the Owners 693 Employees, contractors or sub-contractors or by the 760
or the Charterers shall seek to limit their liability 694 unseaworthiness of the Vessel. 761
against
such third party. 695 (c) The Charterers shall, upon giving notice to the 762
(e) Himalaya Clause.- 696 Owners or the Master, have the right (but shall not be 763
(i) All exceptions, exemptions, defences, 697 obliged) to place on board the Vessel and/or have in 764
immunities,
limitations of liability, indemnities, privileges and 698 attendance at the site of any pollution or threatened 765
conditions granted or provided by this Charter Party 699 incident one or more Charterers’ representative to 766
or by any applicable statute, rule or regulation for 700 observe the measures being taken by Owners and/or 767
the benefit of the Charterers shall also apply to 701 national or local authorities or their respective 768
servants,
and be for the benefit of the Charterers’ parent, 702 agents or contractors to prevent or minimise pollution 769
affiliated, related and subsidiary companies; the 703 damage and to provide advice, equipment or 770
manpower
Charterers’ contractors, sub-contractors, co- 704 or undertake such other measures, at Charterers’ risk 771
venturers and customers (having a contractual 705 and expense, as are permitted under applicable law 772
relationship with the Charterers, always with 706 and as Charterers believe are reasonably necessary 773
to
respect to the job or project on which the Vessel is 707 prevent or minimise such pollution damage or to 774
remove
employed) ; their respective Employees and their 708 the threat of pollution damage. 775
respective underwriters. 709
(ii) All exceptions, exemptions, defences, immunities, 710 16. Wreck Removal 776
limitations of liability, indemnities, privileges and 711 If the Vessel becomes a wreck and is an obstruction to 777
conditions granted or provided by this Charter Party 712 navigation and has to be removed by order of any 778
lawful
or by any applicable statute, rule or regulation for 713 authority having jurisdiction over the area where the 779
the benefit of the Owners shall also apply to and 714 Vessel is placed or as a result of compulsory law, the 780
be for the benefit of the Owners’ parent, affiliated, 715 Owners shall be liable for any and all expenses in 781
related and subsidiary companies, the Owners’ 716 connection with the raising, removal, destruction, 782
contractors, sub-contractors, the Vessel, its Master, 717 lighting or marking of the Vessel. 783
Officers and Crew, its registered owner, its operator, 718
its demise charterer(s), their respective Employees 719 17. Insurance 784
and their respective underwriters. 720 (a) (i) The Owners shall procure and maintain in 785
(iii) The Owners or the Charterers shall be deemed 721 effect for the duration of this Charter Party, with 786
to be acting as agent or trustee of and for the 722 reputable insurers, the insurances set forth in 787
benefit of all such persons and parties set forth 723 ANNEX “B”. 788
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SUPPLYTIME 2005 Time Charter Party for Offshore Service Vessels
above, but only for the limited purpose of 724 Policy limits shall not be less than those 789
indicated.
contracting for the extension of such benefits to 725 Reasonable deductibles are acceptable and shall 790
such persons and parties. 726 be for the account of the Owners. 791
(f) Hazardous or Noxious Substances. 727 (ii) The Charterers shall upon request be named as 792
Notwithstanding any other provision of this Charter Party 728 co-insured. The Owners shall upon request 793
cause
to the contrary, the Charterers shall always be 729 insurers to waive subrogation rights against the 794
responsible for any losses, damages or liabilities 730 Charterers (as encompassed in Clause 14(e)(i)). 795
suffered by the Owners’ Group, by the Charterers, or 731 Co-insurance and/or waivers of subrogation shall 796
by third parties, with respect to the Vessel or other 732 be given only insofar as these relate to liabilities 797
property, personal injury or death, pollution or 733 which are properly the responsibility of the 798
otherwise, Owners
which losses, damages or liabilities are caused, 734 under the terms of this Charter Party. 799
directly
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SUPPLYTIME 2005 Time Charter Party for Offshore Service Vessels

(b) The Owners shall upon request furnish the 800 pollution damage, and the Charterers shall 867
Charterers with copies of certificates of insurance which 801 indemnify the Owners against any liability, cost 868
provide sufficient information to verify that the Owners 802 or expense arising by reason of such actual or 869
have complied with the insurance requirements of this 803 potential spill, seepage and/or emission. 870
Charter Party. 804 (iv) The Vessel shall not be off-hire as a consequence 871
(c) If the Owners fail to comply with the aforesaid 805 of giving such assistance, or effecting repairs 872
insurance requirements, the Charterers may, without 806 under Clause 18(c)(ii), and time taken for such 873
prejudice to any other rights or remedies under this 807 repairs shall not count against time granted under 874
Charter Party, purchase similar coverage and deduct 808 Clause 13(c). 875
the cost thereof from any payment due to the Owners 809 (v) The Charterers shall indemnify the Owners 876
under this Charter Party. 810 against any liability, cost and/or expense 877
whatsoever in respect of any loss of life, injury, 878
18. Saving of Life and Salvage 811 damage or other loss to person or property 879
(a) The Vessel shall be permitted to deviate for the 812 howsoever arising from such assistance. 880
purpose of saving life at sea without prior approval of 813
or notice to the Charterers and without loss of Hire 814 19. Lien 881
provided however that notice of such deviation is given 815 The Owners shall have a lien upon all cargoes and 882
as soon as possible. 816 equipment for all claims against the Charterers under 883
(b) Subject to the Charterers’ consent, which shall not 817 this Charter Party and the Charterers shall have a lien 884
be unreasonably withheld, the Vessel shall be at liberty 818 on the Vessel for all monies paid in advance and not 885
to undertake attempts at salvage, it being understood 819 earned. The Charterers will not suffer, nor permit to be 886
that the Vessel shall be off-hire from the time she leaves 820 continued, any lien or encumbrance incurred by them 887
port or commences to deviate and she shall remain 821 or their agents, which might have priority over the title 888
off-hire until she is again in every way ready to resume 822 and interest of the Owners in the Vessel. Except as 889
the Charterers’ service at a position which is not less 823 provided in Clause 14, the Charterers shall indemnify 890
favourable to the Charterers than the position at the 824 and hold the Owners harmless against any lien of 891
time of leaving port or deviating for the salvage services. 825 whatsoever nature arising upon the Vessel during the 892
All salvage monies earned by the Vessel shall be divided 826 Charter Period while she is under the control of the 893
equally between the Owners and the Charterers, after 827 Charterers, and against any claims against the 894
Owners
deducting the Master’s, Officers’ and Crew’s share, legal 828 arising out of the operation of the Vessel by the 895
expenses, value of fuel and lubricants consumed, Hire 829 Charterers or out of any neglect of the Charterers in 896
of the Vessel lost by the Owners during the salvage, 830 relation to the Vessel or the operation thereof. 897
repairs to damage sustained, if any, and any other 831 Should the Vessel be arrested by reason of claims or 898
extraordinary loss or expense sustained as a result of 832 liens arising out of her operation hereunder, unless 899
the salvage. 833 brought about by the act or neglect of the Owners, the 900
The Charterers shall be bound by all measures taken 834 Charterers shall at their own expense take all 901
by the Owners in order to secure payment of salvage 835 reasonable steps to secure that within a reasonable 902
time
and to fix its amount. 836 the Vessel is released and at their own expense put 903
up
(c) The Owners shall waive their right to claim any 837 bail to secure release of the Vessel. 904
award for salvage performed on property owned by or 838
contracted to the Charterers, always provided such 839 20. Sublet and Assignment 905
property was the object of the operation the Vessel was 840 (a) Charterers. - The Charterers shall have the option 906
chartered for, and the Vessel shall remain on hire when 841 of subletting, assigning or loaning the Vessel to any 907
rendering salvage services to such property. This waiver 842 person or company not competing with the Owners, 908
is without prejudice to any right the Vessel’s Master, 843 subject to the Owners’ prior approval which shall not 909
be
Officers and Crew may have under any title. 844 unreasonably withheld, upon giving notice in writing to 910
If the Owners render assistance to such property in 845 the Owners, but the original Charterers shall always 911
distress on the basis of “no claim for salvage”, then, 846 remain responsible to the Owners for due 912
performance
notwithstanding any other provisions contained in this 847 of the Charter Party. The person or company taking 913
such
Charter Party and even in the event of neglect or default 848 subletting, assigning or loan and their contractors and 914
of the Owners, Master, Officers or Crew: 849 sub-contractors shall be deemed contractors of the 915
(i) The Charterers shall be responsible for and shall 850 Charterers for all the purposes of this Charter Party. 916
indemnify the Owners against payments made, 851 The Owners make it a condition of such consent that 917
under any legal rights, to the Master, Officers and 852 additional Hire shall be paid as agreed between the 918
Crew in relation to such assistance. 853 Charterers and the Owners in Box 29, having regard 919
to
(ii) The Charterers shall be responsible for and shall 854 the nature and period of any intended service of the 920
reimburse the Owners for any loss or damage 855 Vessel. 921
sustained by the Vessel or her equipment by 856 (b) Owners. - The Owners may not assign or transfer 922
reason of giving such assistance and shall also 857 any part of this Charter Party without the written 923
approval
pay the Owners’ additional expenses thereby 858 of the Charterers, which approval shall not be 924
incurred. 859 unreasonably withheld. Approval by the Charterers of 925
(iii) The Charterers shall be responsible for any actual 860 such subletting or assignment shall not relieve the 926
or potential spill, seepage and/or emission of any 861 Owners of their responsibility for due performance of 927
pollutant howsoever caused occurring within the 862 the part of the services which is sublet or assigned. 928
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SUPPLYTIME 2005 Time Charter Party for Offshore Service Vessels
offshore site and any pollution resulting therefrom 863
wheresoever it may occur and including but not 864 21. Substitute Vessel 929
limited to the cost of such measures as are 865 The Owners shall be entitled at any time, whether 930
before
reasonably necessary to prevent or mitigate 866 delivery or at any other time during the Charter Period, 931
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SUPPLYTIME 2005 Time Charter Party for Offshore Service Vessels

to provide a substitute vessel, subject to the

932 time as the next payment of hire is due, or upon 999
Charterers’ prior approval which shall not be
933 redelivery, whichever occurs first. 1000
unreasonably withheld.
(f) The Vessel shall have liberty:- 1001
22. BIMCO War Risks Clause “CONWARTIME 2004” 934 (i) to comply with all orders, directions, recommen- 1002
(a) For the purpose of this Clause, the words: 935 dations or advice as to departure, arrival, routes, 1003
(i) “Owners” shall include the shipowners, bareboat 936 sailing in convoy, ports of call, stoppages, desti- 1004
charterers, disponent owners, managers or 937 nations, discharge of cargo, delivery, or in any 1005
other operators who are charged with the 938 other way whatsoever, which are given by the 1006
management of the Vessel, and the Master; and 939 Government of the Nation under whose flag the 1007
(ii) “War Risks” shall include any actual, threatened 940 Vessel sails, or other Government to whose laws
or reported: war; act of war; civil war; hostilities; 941 1008 the Owners are subject, or any other
revolution; rebellion; civil commotion; warlike 942 Government, 1009 body or group whatsoever acting
operations; laying of mines; acts of piracy; acts 943 with the power 1010 to compel compliance with their
of orders or direc- 1011
terrorists; acts of hostility or malicious damage; 944 tions; 1012
blockades (whether imposed against all vessels 945 (ii) to comply with the order, directions or recommen- 1013
or imposed selectively against vessels of certain 946 dations of any war risks underwriters who have 1014
flags or ownership, or against certain cargoes or 947 the authority to give the same under the terms of 1015
crews or otherwise howsoever); by any person, 948 the war risks insurance; 1016
body, terrorist or political group, or the 949 (iii) to comply with the terms of any resolution of the 1017
Government of any state whatsoever, which, in 950 Security Council of the United Nations, the 1018
the reasonable judgement of the Master and/or 951 effective orders of any other Supranational body 1019
the Owners, may be dangerous or are likely to 952 which has the right to issue and give the same, 1020
be or to become dangerous to the Vessel, her 953 and with national laws aimed at enforcing the 1021
cargo, crew or other persons on board the 954 same to which the Owners are subject, and to 1022
Vessel. 955 obey the orders and directions of those who are 1023
(b) The Vessel, unless the written consent of the
Owners be first obtained, shall not be ordered to or 956 charged with their enforcement; 1024
required to continue to or through, any port, place, 957 (iv) to discharge at any other port any cargo or part 1025
area or zone (whether of land or sea), or any 958 thereof which may render the Vessel liable to 1026
waterway or
canal, where it appears that the Vessel, her cargo, 959 confiscation as a contraband carrier; 1027
crew
or other persons on board the Vessel, in the 960 (v) to call at any other port to change the crew or any
reasonable judgement of the Master and/or the 961 1028 part thereof or other persons on board the
Owners, may be, or are likely to be, exposed to War 962 Vessel 1029 when there is reason to believe that they
Risks. Should the Vessel be within any such place as 963 may be 1030 subject to internment, imprisonment or
aforesaid, which other 1031
only becomes dangerous, or is likely to be or to 964 sanctions. 1032
become
dangerous, after her entry into it, she shall be at 965 (g) If in accordance with their rights under the 1033
liberty to leave it. 966 foregoing provisions of this Clause, the Owners shall 1034
(c) The Vessel shall not be required to load 967 refuse to proceed to the loading or discharging ports, 1035
contraband cargo, or to pass through any blockade, 968 or any one or more of them, they shall immediately 1036
whether such blockade be imposed on all vessels, or 969 inform the Charterers. No cargo shall be discharged at
is imposed selectively in any way whatsoever against 970 1037 any alternative port without first giving the Charterers
vessels of certain flags or ownership, or against 971 1038 notice of the Owners’ intention to do so and
certain cargoes or crews or otherwise howsoever, or 972 requesting 1039 them to nominate a safe port for such
to proceed to an area where she shall be subject, or 973 discharge. Failing 1040 such nomination by the Charterers
is likely to be subject to a belligerent’s right of search 974 within 48 hours of 1041 the receipt of such notice and
and/or confiscation. 975 request, the Owners may 1042 discharge the cargo at any
(d) (i) The Owners may effect war risks insurance in 976 safe port of their own choice. 1043
respect of the Hull and Machinery of the 977 (h) If in compliance with any of the provisions of sub-
Vessel and their other interests (including, but 978 1044 clauses (b) to (g) of this Clause anything is done or
not limited to, loss of earnings and detention, the not 1045 done, such shall not be deemed a deviation, but
crew shall 1046
and their Protection and Indemnity Risks), and 979 be considered as due fulfilment of this Charter Party. 1047
the premiums and/or calls therefor shall be for 980
their account. 981 23. War Cancellation Clause 2004 1048
(ii) If the Underwriters of such insurance should 982 Either party may cancel this Charter Party on the 1049
require payment of premiums and/or calls 983 outbreak of war (whether there be a declaration of war 1050
because,
pursuant to the Charterers’ orders, the Vessel is 984 or not) 1051
within, or is due to enter and remain within, or 985 (a) between any two or more of the following countries:
pass through any area or areas which are 986 1052 the United States of America; Russia; the United
specified by such Underwriters as being subject 987 1053 Kingdom; France; and the People’s Republic of
to additional China, 1054
premiums because of War Risks, then the actual by rs to the Owners at the same time as upon
premiums and/or calls paid shall be reimbursed Chartere the next payment of hire is due, or
PART II
SUPPLYTIME 2005 Time Charter Party for Offshore Service Vessels
988 or, en the countries stated in Box 30. 1055
989 (b) 1056
990 bet
24. BIMCO Ice Clause for Time Charter Parties
991 we 1057
redelivery, whichever occurs first. 992 (a) The Vessel shall not be obliged to force ice but, 1058
(e) If the Owners become liable under the terms of 993 subject to the Owners’ prior approval having due regard
employment to pay to the crew any bonus or 994 1059 to its size, construction and class, may follow ice-
additional 1060
wages in respect of sailing into an area which is 995 breakers. 1061
dangerous in the manner defined by the said terms, 996 (b) The Vessel shall not be required to enter or remain
then the actual bonus or additional wages paid shall 997 1062 in any icebound port or area, nor any port or area
be reimbursed to the Owners by the Charterers at the 998 where 1063 lights, lightships, markers or buoys have been
same or are 1064
PART II
SUPPLYTIME 2005 Time Charter Party for Offshore Service Vessels

about to be withdrawn by reason of ice, nor where on 1065 claim whatsoever of the owners of any goods carried 1130
account of ice there is, in the Master’s sole discretion, 1066 under this Charter Party paid or payable by the other or 1131
a risk that, in the ordinary course of events, the Vessel 1067 non-carrying ship or her owners to the owners of the 1132
will not be able safely to enter and remain at the port or 1068 said goods and set-off, recouped or recovered by the 1133
area or to depart after completion of loading or 1069 other or non-carrying ship or her owners as part of their 1134
discharging. If, on account of ice, the Master in his sole 1070 claim against the Vessel or the Owners. The foregoing 1135
discretion considers it unsafe to proceed to, enter or 1071 provisions shall also apply where the owners, operators 1136
remain at the place of loading or discharging for fear of 1072 or those in charge of any ship or ships or objects other 1137
the Vessel being frozen in and/or damaged, he shall 1073 than or in addition to the colliding ships or objects are 1138
be at liberty to sail to the nearest ice-free and safe place 1074 at fault in respect of a collision or contact. 1139
and there await the Charterers’ instructions. 1075
(c) Any delay or deviation caused by or resulting from 1076 28. Health and Safety 1140
ice shall be for the Charterers’ account and the Vessel 1077 The Owners shall comply with and adhere to all 1141
shall remain on-hire. 1078 applicable international, national and local regulations 1142
(d) Any additional premiums and/or calls required by 1079 pertaining to health and safety, and such Charterers’ 1143
the Vessel’s underwriters due to the Vessel entering or 1080 instructions as may be appended hereto. 1144
remaining in any icebound port or area, shall be for the 1081
Charterers’ account. 1082 29. Drugs and Alcohol Policy 1145
The Owners undertake that they have, and shall maintain 1146
25. Epidemic/Fever 1083 for the duration of this Charter Party, a policy on Drugs 1147
The Vessel shall not be ordered to nor bound to enter 1084 and Alcohol Abuse applicable to the Vessel (the “D & A 1148
without the Owners’ written permission any place where 1085 Policy”) that meets or exceeds the standards in the 1149
fever or epidemics are prevalent or to which the Master, 1086 OCIMF Guidelines for the Control of Drugs and Alcohol 1150
Officers and Crew by law are not bound to follow the 1087 Onboard Ship 1995 as amended from time to time. 1151
Vessel. 1088 The Owners shall exercise due diligence to ensure that 1152
Notwithstanding the terms of Clause 13, Hire shall be 1089 the D & A Policy is understood and complied with on 1153
paid for all time lost including any lost owing to loss of 1090 and about the Vessel. An actual impairment, shall not 1154
or sickness to the Master, Officers, Crew or passengers 1091 in and itself mean that the Owners have failed to 1155
or to the action of the Crew in refusing to proceed to 1092 exercise due diligence. 1156
such place or to be exposed to such risks. 1093
30. Taxes 1157
26. General Average and New Jason Clause 1094 Within the day rate the Owners shall be responsible for 1158
General Average shall be adjusted and settled in 1095 the taxes stated in Box 32 and the Charterers shall be 1159
London unless otherwise stated in Box 31, according 1096 responsible for all other taxes. 1160
to York-Antwerp Rules, 1994. 1097 In the event of change in the Area of Operation or 1161
Hire shall not contribute to General Average. Should 1098 change in local regulation and/or interpretation thereof, 1162
adjustment be made in accordance with the law and 1099 resulting in an unavoidable and documented change of 1163
practice of the United States of America, the following 1100 the Owners’ tax liability after the date of entering into 1164
provision shall apply: 1101 the Charter Party or the date of commencement of 1165
“In the event of accident, danger, damage or disaster 1102 employment, whichever is the earlier, Hire shall be 1166
before or after the commencement of the voyage, 1103 adjusted accordingly. 1167
resulting from any cause whatsoever, whether due to 1104
negligence or not, for which, or for the consequence of 1105 31. Early Termination 1168
which, the Owners are not responsible, by statute, 1106 (a) At Charterers’ Convenience. - The Charterers may 1169
contract or otherwise, the cargo, shippers, consignees 1107 terminate this Charter Party at any time by giving the 1170
or owners of the cargo shall contribute with the Owners 1108 Owners written notice of termination as stated in Box 1171
in General Average to the payment of any sacrifices, 1109 14, upon expiry of which, this Charter Party will 1172
loss or expenses of a General Average nature that may 1110 terminate. Upon such termination, Charterers shall pay 1173
be made or incurred and shall pay salvage and special 1111 the compensation for early termination stated in Box 1174
charges incurred in respect of the cargo. 1112 13 and the demobilisation charge stated in Box 15, as 1175
If a salving vessel is owned or operated by the Owners, 1113 well as Hire or other payments due under the Charter 1176
salvage shall be paid for as fully as if the said salving 1114 Party up to the time of termination. Should Box 13 be 1177
vessel or vessels belonged to strangers. Such deposit 1115 left blank, Clause 31(a) shall not apply. 1178
as the Owners, or their agents, may deem sufficient to 1116 (b) For Cause. - If either party becomes informed of 1179
cover the estimated contribution of the cargo and any 1117 the occurrence of any event described in this Clause 1180
salvage and special charges thereon shall, if required, 1118 that party shall so notify the other party promptly in1181
be made by the cargo, shippers, consignees or owners 1119 writing and in any case within 3 days after such 1182
of the cargo to the Owners before delivery”. 1120 information is received. If the occurrence has not ceased 1183
within 3 days after such notification has been given, 1184
27. Both-to-Blame Collision Clause 1121 this Charter Party may be terminated by either party, 1185
If the Vessel comes into collision with another ship as a 1122 without prejudice to any other rights which either party 1186
result of the negligence of the other ship and any act, 1123 may have, under any of the following circumstances: 1187
neglect or default of the Master, mariner, pilot or the 1124 (i) Requisition. - If the government of the state of 1188
servants of the Owners in the navigation or the 1125 registry and/or the flag of the Vessel, or any 1189
management of the Vessel, the Charterers will 1126 agency thereof, requisitions for hire or title or 1190
indemnify the Owners against all loss or liability to the 1127 otherwise takes possession of the Vessel during 1191
other or non-carrying ship or her owners insofar as such 1128 the Charter Period. 1192
loss or liability represent loss of or damage to, or any 1129 (ii) Confiscation. - If any government, individual or 1193
PART II
SUPPLYTIME 2005 Time Charter Party for Offshore Service Vessels

group, whether or not purporting to act as a 1194 limited to the Employees of the party seeking to invoke 1261
government or on behalf of any government, 1195 force majeure; 1262
confiscates, requisitions, expropriates, seizes or 1196 (h) fire, accident, explosion except where caused by 1263
otherwise takes possession of the Vessel during 1197 negligence of the party seeking to invoke force majeure; 1264
the Charter Period (other than by way of arrest 1198 (i) any other similar cause beyond the reasonable 1265
for the purpose of obtaining security). 1199 control of either party. 1266
(iii) Bankruptcy. - In the event of an order being made 1200 The party seeking to invoke force majeure shall notify 1267
or resolution passed for the winding up, dissolu- 1201 the other party in writing within 2 working days of the 1268
tion, liquidation or bankruptcy of either party (oth- occurrence of any such event/condition. 1269
1202 erwise than for the purpose of reconstruction or
1203 amalgamation) or if a receiver is appointed or if 33. Confidentiality 1270
it 1204
suspends payment or ceases to carry on business. All information or data provided or obtained in 1271
1205 connection with the performance of this Charter Party 1272
(iv) Loss of Vessel. – If the Vessel is lost or becomes is and shall remain confidential and not be disclosed 1273
1206 a constructive total loss, or is missing unless the without the prior written consent of the other party. The
1207 Owners promptly state their intention to provide, 1274 parties shall use their best efforts to ensure that such
1208 and do in fact provide, within 14 days of the 1275 information shall not be disclosed to any third party
Vessel 1209 being lost or missing, at the port or place by 1276 any of their sub-contractors, Employees and
from 1210 which the Vessel last sailed (or some agents. 1277 This Clause shall not apply to any information
other 1211 mutually acceptable port or place) a or data 1278 that has already been published or is in
substitute 1212 vessel pursuant to Clause 21. In the public 1279
the case of 1213
termination, Hire shall cease from the date the 1214 domain. 1280
Vessel was lost or, in the event of a constructive 1215 All information and data provided by a party is and shall 1281
total loss, from the date of the event giving rise to remain the property of that party. 1282
1216 such loss. If the date of loss cannot be
ascertained 1217 or the Vessel is missing, payment 34. BIMCO Dispute Resolution Clause 1283
of Hire shall 1218
cease from the date the Vessel was last reported. * (a) This Charter Party shall be governed by and 1284
1219 construed in accordance with English law and any 1285
(v) Breakdown. - If, at any time during the term of 1220 dispute arising out of or in connection with this Charter
this Charter Party a breakdown of the Owners’ 1221 1286 Party shall be referred to arbitration in London in
equipment or Vessel result in the Owners being 1222 1287 accordance with the Arbitration Act 1996 or any
unable to perform their obligations hereunder for 1223 statutory 1288 modification or re-enactment thereof save to
a period exceeding that stated in Box 33 and have the extent 1289 necessary to give effect to the provisions
1224 not initiated reasonable steps within 48 hours to of this Clause. 1290 The arbitration shall be conducted in
1225 remedy the non-performance or provided a accordance with 1291
1226
substitute vessel pursuant to Clause 21. 1227 the London Maritime Arbitrators Association (LMAA) 1292
(vi) Force Majeure. - If a force majeure condition as 1228 Terms current at the time when the arbitration 1293
defined in Clause 32 prevents or hinders the 1229 proceedings are commenced. 1294
performance of the Charter Party for a period 1230 The reference shall be to three arbitrators. A party 1295
exceeding 15 consecutive days from the time at 1231 wishing to refer a dispute to arbitration shall appoint its
which the impediment causes the failure to 1232 1296 arbitrator and send notice of such appointment in
perform if notice is given without delay or, if notice writing 1297 to the other party requiring the other party to
1233 is not given without delay, from the time at which appoint its 1298 own arbitrator within 14 calendar days of
1234 that notice 1299
notice thereof reaches the other party. 1235 and stating that it will appoint its arbitrator as sole 1300
(vii) Default. - If either party is in repudiatory breach 1236 arbitrator unless the other party appoints its own 1301
of its obligations hereunder. 1237 arbitrator and gives notice that it has done so within the 1302
Termination as a result of any of the above mentioned 1238 14 days specified. If the other party does not appoint its 1303
causes shall not relieve the Charterers of any obligation own arbitrator and give notice that it has done so within 1304
1239
for Hire and any other payments. 1240 the 14 days specified, the party referring a dispute to 1305
arbitration may, without the requirement of any further 1306
32. Force Majeure 1241 prior notice to the other party, appoint its arbitrator as 1307
Neither party shall be liable for any loss, damage or 1242 sole arbitrator and shall advise the other party 1308
delay due to any of the following force majeure events accordingly. The award of a sole arbitrator shall be 1309
1243 and/or conditions to the extent the party invoking binding on both parties as if he had been appointed by
force 1244 1310
majeure is prevented or hindered from performing any agreement. 1311
1245
or all of their obligations under this Charter Party, 1246 Nothing herein shall prevent the parties agreeing in 1312
provided they have made all reasonable efforts to avoid, writing to vary these provisions to provide for the 1313
1247
minimize or prevent the effect of such events and/or 1248 appointment of a sole arbitrator. 1314
conditions: 1249 In cases where neither the claim nor any counterclaim 1315
(a) acts of God; 1250 exceeds the sum of US$50,000 (or such other sum as 1316
PART II
SUPPLYTIME 2005 Time Charter Party for Offshore Service Vessels
(b) any Government requisition, control, intervention, 1251 the parties may agree) the arbitration shall be conducted 1317
requirement or interference; 1252 in accordance with the LMAA Small Claims Procedure 1318
(c) any circumstances arising out of war, threatened 1253 current at the time when the arbitration proceedings 1319
act of war or warlike operations, acts of terrorism, 1254 are commenced. 1320
sabotage or piracy, or the consequences thereof; 1255 * (b) This Charter Party shall be governed by and 1321
(d) riots, civil commotion, blockades or 1256 construed in accordance with Title 9 of the United States
embargoes; 1257 1322 Code and the Maritime Law of the United States and
(e) epidemics; 1323
(f) earthquakes, landslides, floods or other extraor- 1258 any dispute arising out of or in connection with this 1324
dinary weather conditions; 1259 Charter Party shall be referred to three persons at New 1325
(g) strikes, lockouts or other industrial action, unless 1260 York, one to be appointed by each of the parties hereto, 1326
PART II
SUPPLYTIME 2005 Time Charter Party for Offshore Service Vessels

and the third by the two so chosen; their decision or 1327 have agreed to mediation. The arbitration 1381
that of any two of them shall be final, and for the 1328 procedure shall continue during the conduct of 1382
purposes of enforcing any award, judgement may be 1329 the mediation but the Tribunal may take the 1383
entered on an award by any court of competent 1330 mediation timetable into account when setting the 1384
jurisdiction. The proceedings shall be conducted in 1331 timetable for steps in the arbitration. 1385
accordance with the rules of the Society of Maritime 1332 (vi) Unless otherwise agreed or specified in the 1386
Arbitrators, Inc. 1333 mediation terms, each party shall bear its own 1387
In cases where neither the claim nor any counterclaim 1334 costs incurred in the mediation and the parties 1388
exceeds the sum of US$50,000 (or such other sum as 1335 shall share equally the mediator’s costs and 1389
the parties may agree) the arbitration shall be conducted 1336 expenses. 1390
in accordance with the Shortened Arbitration 1337 (vii) The mediation process shall be without prejudice 1391
Procedure
of the Society of Maritime Arbitrators, Inc. current at 1338 and confidential and no information or documents 1392
the time when the arbitration proceedings are 1339 disclosed during it shall be revealed to the Tribunal 1393
commenced. 1340 except to the extent that they are disclosable under 1394
* (c) This Charter Party shall be governed by and 1341 the law and procedure governing the arbitration. 1395
construed in accordance with the laws of the place 1342 (Note: The parties should be aware that the mediation 1396
mutually agreed by the parties and any dispute arising 1343 process may not necessarily interrupt time limits.) 1397
out of or in connection with this Charter Party shall be 1344 If Box 34 in PART I is not appropriately filled in, sub- 1398
referred to arbitration at a mutually agreed place, subject 1345 clause 34(a) of this Clause shall apply. Sub-clause (d) 1399
to the procedures applicable there. 1346 shall apply in all cases. 1400
(d) Notwithstanding (a), (b) or (c) above, the parties 1347 * Sub-clauses 34(a), 34(b) and 34(c) are alternatives; 1401
may agree at any time to refer to mediation any 1348 indicate alternative agreed in Box 34. 1402
difference and/or dispute arising out of or in connection 1349
with this Charter Party. 1350 35. Notices 1403
In the case of a dispute in respect of which arbitration 1351 (a) All notices given by either party or their agents to 1404
has been commenced under (a), (b) or (c) above, the 1352 the other party or their agents in accordance with the 1405
following shall apply: 1353 provisions of this Charter Party shall be in writing. 1406
(i) Either party may at any time and from time to 1354 (b) For the purposes of this Charter Party, “in writing” 1407
time elect to refer the dispute or part of the dispute 1355 shall mean any method of legible communication. A 1408
to mediation by service on the other party of a 1356 notice may be given by any effective means including, 1409
written notice (the “Mediation Notice”) calling on 1357 but not limited to, cable, telex, fax, e-mail, registered or 1410
the other party to agree to mediation. 1358 recorded mail, or by personal service. 1411
(ii) The other party shall thereupon within 14 calendar 1359
days of receipt of the Mediation Notice confirm that 1360 36. Headings 1412
they agree to mediation, in which case the parties 1361 The headings of this Charter Party are for identification 1413
shall thereafter agree a mediator within a further 1362 only and shall not be deemed to be part hereof or be 1414
14 calendar days, failing which on the application 1363 taken into consideration in the interpretation or 1415
of either party a mediator will be appointed 1364 construction of this Charter Party. 1416
promptly by the Arbitration Tribunal (“the Tribunal”) 1365
or such person as the Tribunal may designate for 1366 37. Severance 1417
that purpose. The mediation shall be conducted 1367 If by reason of any enactment or judgement any 1418
in such place and in accordance with such 1368 provision of this Charter Party shall be deemed or held 1419
procedure and on such terms as the parties may 1369 to be illegal, void or unenforceable in whole or in part, 1420
agree or, in the event of disagreement, as may be 1370 all other provisions of this Charter Party shall be 1421
set by the mediator. 1371 unaffected thereby and shall remain in full force and 1422
(iii) If the other party does not agree to mediate, that 1372 effect. 1423
fact may be brought to the attention of the Tribunal 1373
and may be taken into account by the Tribunal 1374 38. Entire Agreement 1424
when allocating the costs of the arbitration as 1375 This Charter Party, including all Annexes referenced 1425
between the parties. 1376 herein and attached hereto, is the entire agreement of 1426
(iv) The mediation shall not affect the right of either 1377 the parties, which supersedes all previous written or 1427
party to seek such relief or take such steps as it 1378 oral understandings and which may not be modified 1428
considers necessary to protect its interest. 1379 except by a written amendment signed by both parties. 1429
(v) Either party may advise the Tribunal that they 1380