Rider clauses to Carter party dated 12/08 2002 of MV Dmitriy Donskoy

Clause.26 Hire payment at rate USD 6 000.00 per day pro-rata less to be made to: JSC MURMANSK SHIPPING COMPANY.

First hire and next hire to be paid every 15 days. When payment is due Charterers are to send Owners a telex statement showing breakdown of hire and value date of remittance.

If Charterers make deductions from last hire remittance is respect of any anticipated Owners expenses incurred by Charterers agents, Charterers should advise owners by telex of a deyailid backup statement showing how the amount is arrived at.

Clause.27 Charterers have the right to withhold from charter hire during the period of this charter such amount due to them for non disputed off-hire including non disputed speed/performance claims and owners disbursements, but proper supporting vouchers to be sent to Owners promptly.

The timely and full payment of hire shell be a condition of of this Charter Party and owners shell be entitled to consider any default in payment as a repudiatorry breach of this Carter Party. Where there is a failure for any reason to make punctual and proper payment of hire the Charterers shell be given two banking days notice to rectify the failure and, if so rectified within those two days following Owners notice, the payment shell stand as punctual and proper. If, however, the Charterers fail to rectify their failure within two banking days the Owners shell have the continuing right to withdraw the vessel from the Charterers service at any time prior to the receipt of full payment of such hire, which right shell not be waived or lost by delay in its exercise and which right shell be without prejudice to ane rights the Owners may otherwise have under the charter.

Clause.28 Additionally to, hire, Charterers to pay USD 1 000 per month prorata to Master. Master/Crew.

Clause.29Charterers to inform administration of the ports of call that all disbursements accounts are to be presented/sent to Cherters name. All Masters requirements as to service or agency for vessel are to be given on behalf of Charters. Cash and other Owners expenses advances to be deducted from the hire.

Charterers undertake to obtain from all persons furnishing supplies, necessaries or services to the vessel during the currency of this charter a statement/certificate confirming :

(a) that the supplies, necessaries or services have been pre-paid of that the person furnishing the supplies, necessaries or services is relaying solely on the credit of the Charterers

(b) that any lien against the vessel is waived.

The vessel shell not be obliged to accept any supplies, necessaries or services ordered by the Charterers unless there is first delivered to the master or Chief Officer a suitably worded and executed written waiver of lien along the following lines, the vessel always remaining on hire and the Charterers undertaking to indemnify Owners against all and consequences of any delays, including but not limited to any liability anchored towards third parties.

Waiver wording:

The under signed hereby request that the (vessel name) accept (described supplies, necessaries, services) and in consideration of the vessel accepting such supplies, necessaries or services the undersigned hereby resents and warrants:

(1) that the aforesaid supplies, necessaries or services heave been furnished on the exclusive credit of the Charterers of the vessel and not on the credit of the vessel or her Owners;

(2) that the aforesaid supplies, necessaries or services have been fully paid for or suitable credit arrangements have been made with the Charterers of the vessel;

(3) that the undersigned claims no maritime lien or other tight on or other tight on or against the vessel or the Owners and any such claim, lien or right against the vessel in respect of such supplies, necessaries or services is irrevocably waived

(4) that the undersigned is and entitled to make, enter into and execute this statement on behalf of ( name of supplier )

Charters to provide Owners with full details (name tel.fax) of their bunker suppliers and Charterers shell instruct their bunker suppliers to keep Owners advised of any out standing monies due for bunkers delivered to vessel. Charterers hereby authorized Owners to contact bunker suppliers directly at any time in order to receive information regarding Charters debts, if any.

Clause.30Charterers tohave the option of loading deck cargo at there risk and expense but always at masters description in respect of vessels safety/

Shipments of dangerous goods, labeled and stowed according to IMO/MOPOG regulations, is to be agreed upon with the masters and approved by Owners.

Owners will inform Charters about all eventual changes which reflect to transport of dangerous immediately upon receiving of such facts.

Clause.31Charterers to ensure that bunkers supplied during the currency of this charter shall be compatible with those bunkers already on board the vessel. Charterers to supply intermediate Marin Gas Oil within ISO 8217:1996(E) designation DMA,except Sulfur which should be max – 0,5% and Cetane number which should be min-45. IFO 180 CST RME 25. Specification of bunkers to be given to Master/Chief Engineer for their acceptance prior to delivery.

Clause.32Upon fixing of vessel, the Owners or Master to give Charterers notice of delivery by telex.

Clause.33Trading limits : As per vessels class. A) Arabian gulf, B) Libya, C) Congo, E) Sierra Leone, F) Yemen, G) All war or war-like risk zones, H) Nigeria

Clause.34 Period of validity of the present Charter 2+2+8 months in Charterers option Charterers should officially declare their intention to continue the charter, 15 days prior to the expiration of each period. Failure to do so, will result in Owners right to withdraw the vessel at the end of the respective period.

Clause.35New Jason Clause, Both-to-Collision Clause, BIMCO Standard war Risks Clause for Time Charters 1993, General Paramount Clause, General Average Clause, BIMCO Stowaways Clause for the Time Charters to apply and form a part of this Charters Party and all Bills of Lading issued thereunder.

Clause.36 Any banks charges on the Owners territory to be for the Owners account, the seam on the Charterers territory to be for the Charterers account.

Clause.37 Description of vessel:

Appendix 3

Clause.38 Master to follow charterers instructions regarding regular reports and radio information. All expenses for vessels communications with Charterers and/or their agents and servants via vessels Inmarsat-C telex system and/or other radio stations will be reimbursed by Charterers with next hire payment after receipt of calls/telexes supported by copies of radio station bills.

Additional private phone calls; phone, fax, telex, with Owners; all other parties are not relate to Charterers should be paid by Owners.

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