1.

Agents

CARRIERS
LINER BOOKING NOTE
2. Place and date

3. Carrier

4. Merchant (see Clause 1)

5. Vessel's name

6. Time for shipment (about)

7. Loading port (or so near thereunto as the vessel may safely get and lie always afloat)

8. Discharging port

9. Description of goods

10. Freight rate (also indicate whether prepayable or payable at destination)

11. Demurrage/Detention rate (if agreed)

12. Merchant's representatives at loading port (state full name and address, telegraphic address, telephone and telex)

13. Special terms, if agreed

It is hereby agreed that this contract shall per perormed subject to the terms contained on page no 1 and 2 hereof which shall prevail over any previous arrangements and
which shall in turn be superseded ( except as to deadfreight and demurrage) by the terms of the bill of lading , the terms of which (in full or in exact ) are found on the
reverse side herof

Signature (Carrier)

Signature (Mercnant)

For and on behalf of Carrier as Agents only -

VARAMAR Ltd. (as agents only)

BOOKING NOTE AND BILL OF LADING

TERMS AND CONDITIONS
1. Definition
Merchant includes the charterer, the shipper, the receiver, the consignor, the
consignee, the holder of the Bill of Lading, the owner of the cargo and any
person entitled to possession of the cargo.
2. Notification
(a) Should the Carrier anticipate that, for whatever reason, the vessel will not
be ready to load the cargo by the end of the shipping period, it will
notify the Merchant thereof without delay stating the expected date of
the vessel's readiness to load and asking whether the Merchant will exercise
its option of cancelling the carriage, or agree to a new shipping period.
(b) The Merchant must exercise its option within 48 running hours after the
receipt of the Carrier's notice. If the Merchant does not exercise its option of
cancelling, then the new shipping period shall apply.
(c) The provisions of sub-clause (b) of this clause shall operate any time the
Carrier requests amendment of the shipping period.
3. Liability under the Contract
(a) Unless otherwise provided herein, the Hague Rules contained in the
International Convention for the Unification of Certain Rules Relating to Bills of
Lading, dated Brussels the 25th August 1924 as enacted in the country
of shipment shall apply to this Contract. When no such enactment is in force in
the country of shipment, the corresponding legislation of the country of
destination shall apply. In respect of shipments to which there are no such
enactments compulsorily applicable, the terms of Articles I-VIII inclusive of said
Convention shall apply. In trades where the International Brussels
Convention 1924 as amended by the Protocol signed at Brussels on
23rd February 1968 (The Hague-Visby Rules) apply compulsorily, the
provisions of the respective legislation shall be considered incorporated in
this Bill of Lading. Where the Hague Rules or part of them or the Hague-Visby
Rules apply to carriage under this contract, the applicable rules, or part of
them, shall likewise apply to the period before loading and after discharge
where the Carrier (or his agent) have custody or control of cargo. Unless
otherwise provided herein, the Carrier shall in no case be responsible for
loss of or damage to deck cargo and/or live animals.
(b) The Carrier shall under no circumstances be liable for
consequential damages or losses including damages for delay. In the event
that the Carrier is held to be liable for damage or loss other than damage
to the cargo, such liability shall in any event be limited to the freight covered
by this Bill of Lading or to the limitation amount determined by sub-clause 3(a)
or Special Clause B, whichever is lesser.
(c) The aggregate liability of the Carrier and/or any of his servants, agents or
independent contractors under this Contract shall, in no circumstances,
exceed the limits of liability for the total loss of the cargo under sub-clause
3(a) or, if applicable, the Special Clauses.
4. Law and Jurisdiction
Except as provided elsewhere herein, any dispute arising under or in
connection with this Bill of Lading shall be referred to arbitration in London.
The arbitration shall be conducted in accordance with the London
Maritime Arbitrators Association (LMAA) terms. The arbitration Tribunal is
to consist of three arbitrators, one arbitrator to be appointed by each party
and the two so appointed to appoint a third arbitrator. English law is to
apply.
5. The Scope of Carriage
(a) The intended carriage shall not be limited to the direct route but shall be
deemed to include any proceeding or returning to or stopping or slowing
down at or off any ports or places for any reasonable purpose connected with
the carriage including bunkering, loading, discharging or other cargo
operations and maintenance of vessel and crew. The Carrier shall have the
liberty of restowing the cargo and loading and discharging other cargoes for
the account of other Merchants for ports enroute or not enroute.
(b) Any deviation, change in discharge port or time lost due to environmental
hazards or due to avoidance of same to be for Merchant's account and such
deviation shall not be considered unjustified.
6. Substitution of Vessel
The Carrier shall be at liberty to carry the cargo or part thereof to the port
of discharge by the said or other vessel or vessels either belonging to the
Carrier or others, or by other means of transport, proceeding either directly or
indirectly to such port.
7. Transhipment
The Carrier shall be at liberty to tranship, land and store the cargo either on
shore or afloat and reship and forward the same to the port of discharge at
Carrier's expense but at Merchant's risk.
8. Lighterage
Any lightering in or off ports of loading or ports of discharge to be for the risk
and account of the Merchant.
9. Liability for Pre- and On-Carriage
When the Carrier arranges pre-carriage of the cargo from a place other than
the vessel's port of loading or on-carriage of the cargo to a place other than
the vessel's port of discharge, the Carrier shall contract as the Merchant's
Agent only and the Carrier shall not be liable for any loss or damage arising
during any part of the carriage other than between the port of loading and the
port of discharge even though the freight for the whole carriage has been
collected by him.
10. Loading and Discharging
(a) Loading and discharging of the cargo shall be arranged by the Carrier or
his Agent unless otherwise agreed or noted herein.
(b) The Merchant shall, at his risk and expense, handle and/or store the cargo
before loading and after discharging.
(c) Loading and discharging may commence without prior notice.
(d) The Merchant or his Agent shall tender the cargo when the vessel is ready
to load and as fast as the vessel can receive, including, if required by the
Carrier , outside ordinary working hours notwithstanding any custom of the
port. If the Merchant or his Agent fails to tender the cargo when the vessel
is ready to load or fails to load as fast as the vessel can receive the
cargo, the Carrier shall be relieved of any obligation to load such cargo, the
vessel shall be entitled to leave the port without further notice and the
Merchant shall be liable to the Carrier for deadfreight and/or any overtime
charges, losses, costs and expenses incurred by the Carrier and in addition
the Merchant shall be liable to pay the Carrier detention at the rate USD
20,000 per day pro rata, payable day by day (or such other sum as is stated
on the face of the Bill of Lading) for the period of any delay.
(e) The Merchant or his Agent shall take delivery of the cargo as fast as the
vessel can discharge including, if required by the Carrier, outside ordinary
working hours notwithstanding any custom of the port. If the Merchant or his
Agent fails to take delivery of the cargo, the Carrier's discharging of the
cargo shall be deemed fulfillment of the contract of carriage. Should the cargo
not be applied for within a reasonable time, the Carrier may sell the same
privately or by auction.If the Merchant or his Agent fails to take delivery of
the cargo as fast as the vessel can discharge, the Merchant shall be liable
to the Carrier for any overtime charges, losses, costs and expenses incurred
by the Carrier and in addition, the Merchant shall be liable to pay the Carrier
detention at the rate USD 20,000 per day pro rata, payable day by day (or
such other sum as is stated on the face of the Bill of Lading) for the period
of any delay. All delivery takes place at the end of the vessel's hook unless
otherwise specified.
(f) The Merchant shall be responsible for providing all necessary equipment for
loading and discharging, including spreader bars, lifting frames, slings
and saddles not yet available on board.
(g) Securing of the cargo to be accomplished to Master's satisfaction. The time
and expense of additional cargo securing required by the Merchant or
Merchant's representative to be for Merchant's account.
(h) The Merchant shall accept his reasonable proportion of unidentified loose
cargo.

(i) Cargo to be carried on terms liner in/free out, free in/liner out, free in/out
shall be loaded and/or discharged (as applicable) by the Merchant free of any
risk, liability, cost and expense whatsoever to the Carrier. The Merchant shall
be liable to the Carrier for the negligence of the stevedores whom the
Merchant shall appoint. Unless otherwise stated, demurrage shall be US
$20,000 per day pro rata and payable day by day.
(j) Notice of Readiness may be tendered on arrival, at any time, day or night,
all weekend days and whether in port or not, whether in berth or not,
whether customs cleared or not, whether in free practique or not.
(k) Should the vessel not be able to berth for any reason including congestion
after 72 hours after arrival at or off the port, the Carrier has the option to sail
the vessel and cancel this contract. If the terms are Free In or Merchants or
Shippers' berth, the Merchant shall owe deadfreight. Should for any reason the
vessel be unable to discharge the cargo within 5 days of arrival at or off the
discharge port, the Carrier shall be at liberty to deviate to any other port
whatsoever and there discharge the cargo at the Merchant's expense and
such alternative discharge shall be deemed to be fulfillment of the contract of
carriage.
11. Freight, Deadfreight, Charges, Costs, Expenses, Duties, Taxes and
Fines
(a) Freight, whether paid or not, shall be considered as fully earned and due
upon loading and non-returnable in any event. Unless otherwise
specified, freight and/or charges under this Contract are payable by the
Merchant to the Carrier on demand. Interest of 8 per cent above the official
dealing rate of the Bank of England (the base rate) as announced shall start to
run on the fifteenth (15) day after the freight, demurrage, detention and/or
other charge whatsoever becomes due and owing.
(b) The Merchant shall be liable for all costs and expenses of fumigation,
gathering and sorting loose cargo and weighing on board, repairing damage to
and replacing of packing due to excepted causes, and any extra handling of
the cargo for any of the aforementioned reasons. The Merchant shall be
specifically liable for all costs, expenses, losses and liabilities incurred
due to non-approved or contaminated or infested dunnage supplied by
Merchants including all costs of transporting the cargo to another port, if
required.
(c) The Merchant shall be liable for any dues, duties, taxes and charges that
under any denomination may be levied, inter alia, on the basis of freight,
weight or measurement of cargo or tonnage or classification of the vessel
including all Suez or Panama Canal charges.
(d) The Merchant shall be liable for all fines, penalties, costs, expenses,
damages and or losses that the Carrier, vessel or cargo may incur through
non-observance of Customs House and/or import or export regulations.
(e) Payments, including partial payments made pursuant to this Contract are
with prejudice, nonreturnable, and will be credited to the amount due.
Acceptance of a partial payment under no circumstances waives the full
amount due and owing.
(f) The Carrier is entitled in case of incorrect declaration of contents, weights,
measurements or value of the cargo to claim double the amount of freight plus
additional costs as liquidated damages that would have been due if such
declaration had been correctly given. For the purpose of ascertaining the
actual facts, the Carrier shall have the right to obtain from the Merchant the
original invoice and to have the cargo inspected and its contents, weight,
measurement or value verified.
(g) Any additional insurance premium charged by vessel's underwriters
for breaching trading limitations (INL) or war risk exclusions to be for
Merchant's account. Any extra insurance procured (including war risks) or
costs incurred to protect vessel, crew, and cargo against risk of piracy,
rebels or terrorists shall be paid by Merchants upon request of Carrier.
(h) In the event that the Merchant fails for whatever reason to tender or
load the cargo or part thereof, the Carrier shall be entitled to damages
and/or deadfreight in respect of the cargo not loaded and such damages
shall be considered liquidated damages and quantified on the basis of the
applicable freight rate, less stevedoring and port costs saved as a
consequence. The Carrier shall not be required to call the loadport in
order to be entitled to damages and/or deadfreight under this paragraph. If
the vessel has arrived at the loadport but the cargo is unavailable for whatever
reason, the Carrier may, at the Carrier's election, leave after 48 hours and
full deadfreight shall be due.
12. Lien
The Carrier shall have a lien on all cargo for any amount due (including freight,
detention, demurrage, and other costs or expenses) under this Contract and
other contracts between the Merchant and the Carrier and costs of recovering
the same (including attorney's fees) and shall be entitled to sell the
cargo privately or by auction to satisfy any claims or liens at the specified
discharge port or other port.
13. General Average and Salvage
(a) General Average to be adjusted at any port or place at Carrier's option and
to be settled according to the York-Antwerp Rules 1994, or any
modification thereof, in respect of all cargo whether carried on or under deck.
In the event of accident, danger, damage or disaster before or after
commencement of the voyage resulting from any cause whatsoever, whether
due to negligence or not, for which or for the consequence of which the
Carrier is not responsible by statute, contract or otherwise, the Merchant shall
contribute with the Carrier in General Average to the payment of any
sacrifice, losses or expenses of a General Average nature that may be
made or incurred, and shall pay salvage and special charges incurred in
respect of the cargo. If a salving vessel is owned or operated by the
Carrier, salvage shall be paid for as fully as if the salving vessel or vessels
belonged to strangers.
(b) If the Carrier decides not to declare General Average for whatever reason
and the nature of the event was similar to one for which General Average
could have been declared the Carrier will be entitled to reimbursement
of his expenses from the Merchant on a pro rata basis of the cargo on
board.
14. Both-to-Blame Collision Clause (This clause to remain in force even if
unenforceable in the courts of the United States of America)
If the vessel comes into collision with another vessel as a result of the
negligence of the other vessel and any act, negligence or default of the
Master, Mariner, Pilot or the servants of the Carrier in the navigation or
in the management of the vessel, the Merchant will indemnify the Carrier
against all loss or liability to the other or non-carrying vessel or her Owner in
so far as such loss or liability represents loss of or damage to or any claim
whatsoever of the owner of the cargo paid or payable by the other or noncarrying vessel or her Owner to the owner of said cargo and set-off, recouped
or recovered by the other or non-carrying vessel or her Owner as part of his
claim against the carrying vessel or Carrier. The foregoing provisions shall
also apply where the Owner, operator or those in charge of any vessel or
vessels or objects other than, or in addition to the colliding vessels or objects
are at fault in respect of a collision or contact.
15. Government Directions, War, Epidemics, Ice, Strikes, Piracy, etc.
(a) The Master and the Carrier shall be at liberty to comply with any order or
directions or recommendations in connection with the transport under this
Contract given by any Government or Authority, or anybody acting or
purporting to act on behalf of such Government or Authority, or having under
the terms of the insurance on the vessel the right to give such orders or
directions or recommendations.
(b) Should it appear that the performance of the transport would expose the
vessel or any cargo on board to risk of seizure or damage or delay in
consequence of war, warlike operations, blockade, riots, civil commotion or
piracy, or any person on board to the risk of loss of life or freedom, or that any
such risk has increased, the Master may discharge the cargo at port of loading
or any other safe and convenient port. The Master may in his absolute
discretion decide to proceed in a convoy or a joint sailing with other vessels
or to chose an alternative, non-direct route to protect the crew, vessel and
cargo. Any time, including waiting time thereby lost, shall be for the
account of the Merchant calculated at the detention/demurrage rate. Any
additional costs including the additional cost of time lost sailing an alternate
route (e.g., rounding Africa) shall be for Merchant's account and shall be
calculated at the detention or demurrage rate.

(c) Should it appear that epidemics, quarantine, ice, labour troubles, labour
obstructions, strikes, lockouts (whether on board or on shore), difficulties in
loading or discharging would prevent the vessel from leaving the port of
loading or reaching or entering the port of discharge or there discharging in the
usual manner and departing therefrom, all of which safely and without
unreasonable delay, the Master may discharge the cargo at the port of loading
or any other safe and convenient port.
(d) The discharge, under the provisions of this clause, of any cargo shall be
deemed due fulfillment of the contract of carriage.
(e) If in connection with the exercise of any liberty under this clause any extra
expenses are incurred they shall be paid by the Merchant in addition to the
freight, together with return freight, if any, and a reasonable compensation for
any extra services rendered to the cargo.
16. Suez Canal and Panama Canal
Merchants acknowledge that the freight paid or to be paid under this Contract
assumes that the vessel will transit through the Suez Canal or Panama Canal
where such transit is the shortest and/or most convenient route to the
discharge port. Merchants are aware that due to the current circumstances
of political unrest in Egypt, it is possible that the Suez Canal may be
blocked, closed or that the vessel may encounter significant delays (more
than 72 hours waiting time) and Merchants agree to assume this risk. In
such event, at the Master's discretion, the vessel may sail around Africa or
via an alternative route and all such extra time shall be for the Merchants'
account at the detention rate (US $20,000 or other such sum stated on the Bill
of Lading) pro rata as well as any additional costs, including bunkers.
Alternatively, the Master may discharge the cargo at a close or convenient
port and all of the Carrier's obligations under this contract shall be considered
fulfilled. Likewise, in the event that the Panama Canal is blocked, closed or
that the vessel encounters significant delays (more than 72 hours waiting
time), at the Master's discretion, the vessel may sail around South America
or via an alternate route and all such extra time shall be for the Merchants'
account at the detention rate (US $20,000 or other such sum stated on the Bill
of Lading) pro rata as well as any additional costs including bunkers.
Alternatively, the Master may discharge the cargo at a close or
convenient port and all of the Carrier's obligations under this contract shall be
considered fulfilled.
17. Defences and Limits of Liability for the Carrier, Servants, Agents and
Managers
(a) It is hereby expressly agreed that no servant, agent or manager of the
Carrier shall have any liability whatsoever to the Merchant or any other party
under this contract of carriage for any loss, damage or delay of whatsoever
kind arising or resulting directly or indirectly from any act, neglect or default
while acting in the course of or in connection with his employment.
(b) Without prejudice to the generality of the foregoing provisions in this
fulfillment clause, every exemption from liability, limitation, condition and liberty
herein contained and every right, defense and immunity of whatsoever nature
applicable to the Carrier or to which the Carrier is entitled, shall also be
available and shall extend to protect every such servant, agent or manager of
the Carrier acting as aforesaid.
(c) The Merchant undertakes that no claim shall be made against any servant,
agent or manager of the Carrier and, if any claim should nevertheless be
made, to indemnify the Carrier against all consequences thereof including
attorney's fees.
(d) For the purpose of all the foregoing provisions of this clause the Carrier is
or shall be deemed to be acting as agent or trustee on behalf of and for the
benefit of all persons who might be his servants or agents from time to time
and all such persons shall to this extent be or be deemed to be parties to
this contract of carriage.
(e) The provisions of this clause shall specifically apply , but not be limited to
all independent contractors, brokers, stevedores, port captains, commercial
and technical managers, and transportation providers employed by the
Carrier.
(f) Any reference to a letter of credit or invoice number shall not be considered
to be a declaration of value of the cargo. Unless the value of the cargo is
declared by the Merchant in the appropriate box on the front of the Bill of
Lading, the value of the cargo is unknown to the Carrier.
18. Stowage
(a) The Carrier shall have the right to stow by means of containers, trailers,
transportable tanks, flats, pallets or similar articles of transport used to
consolidate goods.
(b) The Carrier shall have the right to carry containers, trailers,
transportable tanks and covered flats, whether stowed by the Carrier or
received by him in a stowed condition from the Merchant, on or under deck
without notice to the Merchant.
19. Packaging
The Merchant is responsible for providing cargo that is properly packed and
internally secured for ocean transportation, and that all centres of gravity are
marked, proper skids are attached and, if required, all cradles used for
securing the cargo are fit for the purpose and the cargo is properly secured
within and to the cradles/skids. The Merchant shall fit the cargo and/or
cradles as appropriate with suitable and marked lifting lugs and sufficient
and marked lashing points for the cargo and/or cradle to be properly lifted and
secured. If flexi-tanks or similar receptacles whatsoever are carried inside the
containers the Merchant is responsible for declaring them and providing
detailed description including the MSDS of the liquid inside the receptacle.
If the cargo is not flat at the bottom, the Merchant is to provide cargo plans
including a detailed footprint sketch prior to loading and suitable packaging to
protect any lifting, lashing and securing belts, slings, ropes and chains etc.
from sharp or abrasive edges on the cargo and from loads being concentrated
in one point, as this may cause the lifting/securing equipment to break. Any
special dunnaging, spreader bars of other special equipment required to load,
discharge or secure the cargo is to be for the Merchant's risk and account. Any
damage to the cargo and any delay resulting from the Merchant's failure to
comply with the terms of this clause shall be for the Merchant's account and
the Merchant shall indemnify the Carrier for all losses whatsoever including
any damage to the Vessel or other cargo onboard and any loss of time.
20. Shipper-Packed Containers, Trailers, Transportable Tanks, Flats,
Pallets and Similar Articles
The Carrier shall not be responsible for loss of or damage to contents
of a container whatsoever when the container has not been filled, packed or
stowed by the Carrier. The Merchant shall cover any loss, damage or expense
incurred by the Carrier when caused by negligent filling, packing or
stowing of the container, or the contents being unsuitable for carriage in a
container. The same applies with respect of trailers, tanks, flats, pallets and
other similar articles of transport used to consolidate goods.
21. Cancellation Clause
Dead-freight to be paid in full in case of Merchants failure to tender the goods
when vessel is ready to load as fast as she can receive. Vessel shall wait for
48 hours after which Carrier to be free of any obligation and has the right either
to leave the port of to load further cargo, if any from the same port. Merchant
to pay dead-freight as well as damages to the Carrier w/i 5 banking days after
vessels NOR was tendered. Vessel shall wait for 48 hours in total after which
Carrier has an option to discharge the cargo and to put lien on it in order to
reimburse the damages and discharging costs in case of Merchants failure to
receive the cargo. In case if freight is not paid upon arrival discharging port
carriers may not discharge the cargo and wait till moment when freight is on
carriers account and all time in waiting to count as detention.
In case of full or part of cargo cancelation by Merchant before the first day of
laycan a full freight (dead-freight) is due to Carriers. Invoice for a dead-freight
to be paid in full w/i 5 days upon presentation by Carriers.
22. B/L Terms and conditions
B/L in Conline form to be claused "FREIGHT PAYABLE AS PER B/N.
FREIGHT PREPAID B/L to be kept at Agents custody and wont be released
until full freight and detention(s) are received into Carrier's bank account or
bank confirmation of irrevocable payment received. Carrier has the right to
clause the Bill of Lading with following remarks: Said to be, Said to weigh,
Shippers figures/description. All Bills of Lading to be subject issued as per
mate receipts/manifest content and subject to applicable English Law and

VARAMAR Ltd. (as agents only)

Arbitration in accordance with clause 31 of this Booking Note. No change of

the bills of lading are allowed after issuing and no COB LOI are accepted.
23. War Risk Clause
Any War risk to be paid by Merchant proportionally to the volume of all cargo
carried on board.
(1) For the purpose of this Clause, the words:
(a) "Owners" shall include the shipowners, bareboat charterers, disponent
owners, managers or other operators who are charged with the management
of the Vessel, and the Master; and
(b) "War Risks" shall include any war (whether actual or threatened), act of
war, civil war, hostilities, revolution, rebellion, civil commotion, warlike
operations, the laying of mines (whether actual or reported), acts of piracy,
acts of terrorists, acts of hostility or malicious damage, blockades (whether
imposed against all vessels or imposed selectively against vessels of certain
flags or ownership, or against certain cargoes or crews or otherwise howsoever), by any person, body, terrorist or political group, or the Government of
any state whatsoever, which, in the reasonable judgement of the Master
and/or the Owners, may be dangerous or are likely to be or to become
dangerous to the Vessel, her cargo, crew or other persons on board the
Vessel.
(2) If at any time before the Vessel commences loading, it appears that, in the
reasonable judgement of the Master and/or the Owners, performance of the
Contract of Carriage, or any part of it, may expose, or is likely to expose, the
Vessel, her cargo, crew or other persons on board the Vessel to War Risks,
the Owners may give notice to the Charterers cancelling this Contract of
Carriage, or may refuse to perform such part of it as may expose, or may be
likely to expose, the Vessel, her cargo, crew or other persons on board the
Vessel to War Risks; provided always that if this Contract or Carriage provides
that loading or discharging is to take place within a range of ports, and at the
port or ports nominated by the Charterers the Vessel, her cargo, crew, or other
persons onboard the Vessel may be exposed, or may be likely to be exposed,
to War Risks, the Owners shall first require the Charterers to nominate any
other safe port which lies within the range for loading or discharging, and may
only cancel this contract of carriage if the Charterers shall not have nominated
such safe port or ports within 48 hours of receipt of notice of such requirement.
(3) The Owners shall not be required to continue to load cargo for any voyage,
or to sign Bills of Lading for any port or place, or to proceed or continue on any
voyage, or on any part thereof, or to proceed through any canal or waterway,
or to proceed to or remain at any port or place whatsoever, where it appears,
either after the loading of the cargo commences, or at any stage of the voyage
thereafter before the discharge of the cargo is completed, that, in the
reasonable judgement of the Master and/or the Owners, the Vessel, her cargo
(or any part thereof), crew or other persons on board the Vessel (or any one or
more of them) may be, or are likely to be, exposed to War Risks. If it should
so appear, the Owners may by notice request the Charterers to nominate a
safe port for the discharge of the cargo or any part thereof, and if within 48
hours of
the receipt of such notice, the Charterers shall not have nominated such a
port, the Owners may discharge the cargo at any safe port of their choice
(including the port of loading) in complete fulfilment of the Contract of Carriage.
The Owners shall be entitled to recover from the Charterers the extra
expenses of such discharge and, if the discharge takes place at any port other
than the loading port, to receive the full freight as though the cargo had been
carried to the discharging port and if the extra distance exceeds 100 miles, to
additional freight which shall be the same percentage of the freight contracted
for as the percentage which the extra distance represents to the distance of
the normal and customary route, the Owners having a lien on the cargo for
such expenses and freight.
(4) If at any stage of the voyage after the loading of the cargo commences, it
appears that, in the reasonable judgement of the Master and/or the Owners,
the Vessel, her cargo, crew or other persons on board the Vessel may be, or
are likely to be, exposed to War Risks on any part of the route (including any
canal or waterway) which is normally and customarily used in a voyage of the
nature contracted for, and there is another longer route to the discharging port,
the Owners shall give notice to the Charterers that this route will be taken. In
this event the Owners shall be entitled, if the total extra distance exceeds 100
miles, to additional freight which shall be the same percentage of the freight
contracted for as the percentage which the extra distance represents to the
distance of the normal and customary route.
(5) The Vessel shall have liberty:(a) to comply with all orders, directions, recommendations or advice as to
departure, arrival, routes, sailing in convoy, ports of call, stoppages,
destinations, discharge of cargo, delivery or in any way whatsoever which are
given by the Government of the Nation under whose flag the Vessel sails, or
other Government to whose laws the Owners are subject, or any other
Government which so requires, or any body or group acting with the power to
compel compliance with their orders or directions;
(b) to comply with the orders, directions or recommendations of any war risks
underwriters who have the authority to give the same under the terms of the
war risks insurance;
(c) to comply with the terms of any resolution of the Security Council of the
United Nations, any directives of the European Community, the effective
orders of any other Supranational body which has the right to issue and give
the same, and with national laws aimed at enforcing the same to which the
Owners are subject, and to obey the orders and directions of those who are
charged with their enforcement;
(d) to discharge at any other port any cargo or part thereof which may render
the Vessel liable to confiscation as a contraband carrier;
(e) to call at any other port to change the crew or any part thereof or other
persons on board the Vessel when there is reason to believe that they may be
subject to internment, imprisonment or other sanctions;

(f) where cargo has not been loaded or has been discharged by the Owners
under any provisions of this Clause, to load other cargo for the Owners' own
benefit and carry it to any other port or ports whatsoever, whether backwards
or forwards or in a contrary direction to the ordinary or customary route.(6) If in
compliance with any of the provisions of sub-clauses (2) to (5) of this Clause
anything is done or not done, such shall not be deemed to be a deviation, but
shall be considered as due fulfilment of the Contract of Carriage.
(7A) The Owners may affect war risk insurance in respect of the Hull and
Machinery of the vessel and their other interest (including but not limited to,
loss of earnings and detention, the crew and their protection and indemnity
risks), and the premiums and/or calls therefore shall be for their account.
(7B) If the underwriters of such insurance should require payment of premiums
and/or calls because the vessel is within or is due to enter and remain within
an area or areas which are specified by such underwriters as being subject to
additional premiums because of war risks then such premiums and/or calls
shall be reimbursed by the Charterers.
(7C) If the Owners become liable under the terms of employment to pay the
crew, bonus orAdditional wages in respect of sailing into or being in an area
which is dangerous in the manner defined by the said terms then such bonus
or additional wages shall be reimbursed to the Owners by the Charterers.
24. Stevedore Damage Clause
BIMCO Stevedore damage clause to apply in full.
25. ISPS Clause
(A) (i) From the date of coming into force of the International Code for the
Security of Ships and of Port Facilities and the relevant amendments to
Chapter XI of SOLAS (ISPS Code) in relation to the Vessel, the Owners shall
procure that both the Vessel and "the Company" (as defined by the ISPS
Code) shall comply with the requirements of the ISPS Code relating to the
Vessel and the Company. Upon request the Owners shall provide a copy of
the relevant International Ship Security Certificate (or the Interim International
Ship Security Certificate) to the Charterers. The Owners shall provide the
Charterers with the full style contact details of the Company Security Officer
(CSO).
(ii) Except as otherwise provided in this Charter Party, loss, damage, expense
or delay, excluding consequential loss, caused by failure on the part of the
Owners or the Company to comply with the requirements of the ISPS Code
or this Clause shall be for the Owners account.
(B) (i) The Charterers shall provide the CSO and the Ship Security Officer
(SSO)/Master with their full style contact details and any other information the
Owners require to comply with the ISPS Code.
(ii) Except as otherwise provided in this Charter Party, loss, damage, expense,
excluding consequential loss, caused by failure on the part of the Charterers to
comply with this Clause shall be for the Charterers account and any delay
caused by such failure shall be compensated at the demurrage rate.
(C) Provided that the delay is not caused by the Owners failure to comply with
their obligations under the ISPS Code, the following shall apply:
(i) Notwithstanding anything to the contrary provided in this Charter Party, the
Vessel shall be entitled to tender Notice of Readiness even if not cleared due
to applicable security regulations or measures imposed by a port facility or any
relevant authority under the ISPS Code.
(ii) Any delay resulting from measures imposed by a port facility or by any
relevant authority under the ISPS Code shall count as laytime or time on
demurrage if the Vessel is on laytime or demurrage. If the delay occurs before
laytime has started or after laytime or time on demurrage has ceased to count,
it shall be compensated by the Charterers at the demurrage rate.
(D) Notwithstanding anything to the contrary provided in this Charter Party, any
additional costs or expenses whatsoever solely arising out of or related to
security regulations or measures required by the port facility or any relevant
authority in accordance with the ISPS Code including, but not limited to,
security guards, launch services, tug escorts, port security fees or taxes and
inspections, shall be for the Charterers account, unless such costs or
expenses result solely from the Owners negligence. All measures required by
the Owners to comply with the Ship Security Plan shall be for the Owners
account.
(E) If either party makes any payment which is for the other partys account
according to this Clause, the other party shall indemnify the paying party.

(C) The Owners shall have a lien on the cargo for any freight and discharging
costs payable by the Charterers according to this Clause.
SPECIAL CLAUSES
A. Detention
In addition to Clauses 10(d) and (e), detention shall also be paid by the
Merchant, at the same rate and day by day, for any delay in waiting for loading
or discharge at or off the port or berth, including time lost due to congestion,
swell or tide, shifting, renomination of the berth due to Merchant's request,
impossibility to leave the berth after loading or discharge is completed or
any other reason whatsoever and any consequences thereof. The Merchant
shall also be liable for any extraordinary costs while the vessel is on
detention.
B. U.S. Trade. Period of Responsibility
(i) In case the Contract evidenced by this Bill of Lading is subject to the U.S.
Carriage of Goods by Sea Act of the United States of America 1936
(U.S. COGSA), then the provisions stated in said Act shall govern before
loading, and after discharge and throughout the entire time the cargo is
in the Carrier's custody and in which event freight shall be payable on the
cargo coming into the Carrier's custody. For US trades, the terms on file with
the U.S. Federal Maritime Commission shall apply to such shipments.
B. COGSA applies, and unless the nature and value of the cargo has been
declared by the shipper before the cargo has been handed over to the
Carrier and inserted in this Bill of Lading, the Carrier shall in no event be or
become liable for any loss or damage to the cargo in any amount
exceeding USD500 per package or customary freight unit. If despite the
provisions of sub-clause 3(a), the Carrier is found to be liable for deck
cargo, then all limitations and defenses available under U.S. COGSA (or
other applicable regime) shall apply.
(iii) For purposes of calculating the Carrier's liability under subsection (ii), the
number of pieces or units listed in the box on the face of this Bill of Lading
headed "Number and kind of packages; description of cargo" shall conclusively
establish the number of packages. If the cargo being carried is not a
package, then unless expressly stated otherwise, freight is calculated on
the number of such unpackaged vehicles or other physical pieces of
unpackaged cargo, including articles or things of any description whatsoever
except goods shipped in bulk, and each such piece of unpackaged cargo shall
conclusively be deemed one customary freight unit.
(iv) Whenever the U.S. COGSA applies, whether by virtue of carriage of cargo
to or from the US or otherwise, any dispute arising out of or in connection with
the Contract evidenced by this Bill of Lading shall be exclusively determined by
the United States District Court for the Southern District of Texas, and in
accordance with the laws of the United States. Merchant further agrees to
submit to the jurisdiction of the Southern District of Texas and to waive any
and all objections to venue.
C. Security Clause
(i) If the vessel calls any country that requires security filing including but
not limited to the United States, Canada, Brazil and the European Union
member states, including any of their territories, regardless whether this
country is a port of loading or discharge for Merchant's cargo, the following
provisions shall apply with respect to any applicable regulations or
measures:The Merchant shall provide the Carrier with all information needed
for security filing no later than 48 hours prior to vessel's loading or if the
decision to call the country requiring security was made by the Carrier after
the vessel had sailed not later than 48 hours after the Merchant received
Carrier's request to provide such information.
(ii) Unless caused by the Carrier's negligence, any delay suffered or time lost
in obtaining the entry and exit clearances from the relevant country's
authorities shall count as time of detention.
(iii) Any fines, penalties, fees, costs, expenses, damages (including
consequential damages and attorney's fees) and losses that the Carrier may
incur, even if levied against the vessel, that arise out of security
measures imposed at any port shall be for the Merchants' account if not due to
Carrier's negligence.

26. Stoppage of Canals and Waterways Clause 1968 (CODE: CONWAY)

(A) If at any time before loading is completed or the vessel sails from the
loading port, it appear that the vessel would be delayed for not less than 3
days by circumstances beyond the Owners' control in proceeding through any
waterway, natural or artificial, including the Panama Canal and the Suez
Canal, which it was intended at the time this contract was made that the vessel
should transit in the course of the voyage prescribed herein, the Owners may
require the Charterers to declare that the voyage shall be performed by such
suitable alternative route as the Master may select and that the freight shall be
increased proportionately to the consequent increase in the mileage of the
voyage. If the Charterers decline or fail to declare as aforesaid within 24 hours
of receiving the Owner's notice, or if there is no alternative suitable route, the
Owner may thereupon cancel the contract and, if any cargo has been loaded,
thereupon discharge the same at the Charterers expense.
(B) If delay as aforesaid become apparent after the vessel leaves the port of
loading, the Owners may require the Charterers to make the declaration
described in "A." above and if the Charterers decline or fail to declare as
aforesaid within 24 hours of receiving the Owners' notice, or if there is no
alternative suitable route, the Owners may instruct the Master to discharge the
cargo at the nearest safe and reachable port and such discharge shall be
deemed due fulfillment of this contract. Save that if the mileage of the voyage
is thereby decreased the freight shall be decreased proportionately, all
provisions regarding freight, discharge of the cargo, laytime and demurrage as
agreed for the original discharging port shall apply to discharge a the substitute
port.

VARAMAR Ltd. (as agents only)