CONTRACT REFERENCE # 23/01/2023-01

MT “PACIFIC MOON”
IMO 8813697

MAIN TERMS
CONTRACT REFERENCE # 23/01/2023-01

DISP. DISP OWNERS CHARTERERS

JM SHIP SERVICE PANAMA. ECOR ENERGY LLC
OSCAR PAEZ

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

1.- VESSEL: MT “PACIFIC MOON” |

IMO 8813697 VESSEL'S

PARTICULARS

Número IMO: 8813697

Nombre: PACIFIC MOON

Vessel Type - Generic: Tanker

Vessel Type - Detailed: Oil Products Tanker

Estado: Activo

MMSI: 760000600

Identificativo de llamada: OA2225

Bandera: Perú [PE]

Arqueo bruto: 30088

DWT Verano: 8828 t

Eslora Total x Manga Máxima: 113.15 x 18 m

Año de construcción: 1989

**ALL OTHER INFO AS FULL Q88**

Page 1 of 7
 CONTRACT REFERENCE # 23/01/2023-01
LAST 3 CARGOES: CPP/CPP/CPP

Page 2 of 7
 CONTRACT REFERENCE # 23/01/2023-01

2.- DELIVERY & READINESS:

2.1 STARTING DAY OF THIS CONTRACT WILL BE THE DELIVERY DATE OF THE
SHIP.
2.2 DELIVERY WILL BE AFTER SUBJS CONFIRMATION AND CHARTER HIRE
PAYMENT IS RECEIVED.
2.3 VESSEL TRIPS PROGRAM FROM CHARTERER REQUIREMENTS WILL BE
ADVISED PER CHARTERER REQUIREMENTS.
2.4 VESSEL MOST TO HAVE ALL CARGO TANKS CLEANED AND READY TO LOAD
CPP AND/OR DPP, HOWEVER TANKS MUST BE CLEAN WHEN REDELIVERY BY
CHARTS (PLS SEE CLAUSE # 11 ON CARGO)

3.- CANCELING
10 DAYS AFTER CP CONFIRMATION IF NOT DELIVERED TBN TO A 5 DAY
SPREAD BY OWNERS DOP MEXICO

4- DELIVERY/REDELIVERY NOTICES
4.1 DELIVERY NOTICES: 10 DAYS APPROX. FOLLOWED BY 5/3/2/1 DAYS FIRM
NOTICE
4.2 REDELIVERY: 1 DOP CARIBE MEXICO RANGE OR HOUSTON
4.3 REDELIVERY NOTICES: 10 DAYS APPROX. FOLLOWED BY 5/3/2/1 DAYS
FIRM NOTICE

5.- CONTRACT:
TIME CHARTER 1 YEAR WITH ROLL OVERS AND EXTENTIONS.

6.- PERIOD:
1 YEAR.

7.- TRADING AREA:

TRADING MAIN PORTS / PANAMÁ – GUYANA – CURACAO – VENEZUELA – HOUSTON

8.- DAILY HIRE

USD 8000 (EIGHT THOUSAND US DOLLARS) PER DAY CHARTER / ALL IN / NO
EXTRA CHARGES.

9.- PAYMENT TERMS

9.1 CHARTERERS TO PAY 24.000 USD IN ADVANCE AT SIGNATURE
9.2 CHARTERERS TO PAY 48.000 USD AFTER THE INSPECTION
9.3 CHARTERERS TO PAY 168.000 USD AT FIRST UNLOADING
9.4 ALL PILOTS, TUGS, PORT D/A, AGENT EXPENSES AS PER SHELLTIME 4
FOR TO BE FOR CHARTERERS ACCOUNT.
9.5 HIRE PAYMENT WILL BE IN USD ONLY
9.6 THIS CONTRACT IS SUBJECT TO AN INSPECTION THAT MUST BE MADE 24
HOURS AFTER SENDING PROOF OF TRANSFER ON THE FIRST ADVANCE PAYMENT.
9.7 MONTHLY PAYMENTS WILL BE DONE IN ADVANCE FROM DAY 1 TO DAY 3 OF
EVERY MONTH, FIRST WORKABLE DAY.

10.- DISP OWNERS BANK DETAILS

BANK NAME: DEUTSCHE BANK TRUST COMPANY AMERICAS
SWIFT: BKTRUS33
BENEFICIARY BANK: BANISTMO S.A.
ACCOUNT NUMBER: 04457120
SWIFT: MILDPAPA

Page 3 of 7
 CONTRACT REFERENCE # 23/01/2023-01
BENEFICIARY NAME: JUAN M GONZALEZ
ACCOUNT NUMBER: 0111037470
ATT: JM SHIP SERVICE

11.-CARGO:
11.1 QUANTITY: CHOPT FULL CARGO
11.2 GRADE: MT CALAKMUL IS FITTED TO TRADE ONLY CLEANS PRODUCTS AND
CLEAN PETROLEUM PRODUCTS. IF CHARTS INTEND TO LOAD PRODUCTS SUCH AS
D2, EN5909, THEN CARGOES TO BE COMPATIBLE WITH SHIP’S
LINES/PUMPS/GASKETS/HEATING COILS AND SHIP'S CLASS & TECHNICAL
RESTRICTIONS/SPECS AND CHARTS ARE OBLIGED TO REDELIVERY THE VESSEL
WITH ALL CARGO TANK CLEANED AND FITTED TO LOAD CPP.
11.3CARGO EXCLUSIONS: CRUDE OIL, ORIMULSION, BITUMEN & BITUMINOUS
PRODUCTS, TAR, ASPHALT, LOW SULPHUR WAXY RESIDUES, CARBON BLACK
FEEDSTOCK
11.4 SEGREGATION: MAX GRADES. WVNS

12- STS OPERATIONS & STORAGE:

12.1 FOR STS/LIGHTERING OPERATIONS, CHARTERERS ARE TO PROVIDE ALL
REQUIRED FENDERS, HOSES, AND EQUIPMENT AT THEIR TIME, RISK &
EXPENSE. ALL STS OPERATIONS TO BE SAFELY CARRIED OUT AS PER OCIMF
GUIDELINES AND ALWAYS AT MASTER'S DISCRETION KEEPING IN MIND THE
SAFETY OF THE VESSEL/CREW.
12.2 CHARTERERS OPTION TO USE THE VESSEL AS A STORAGE UNIT
THROUGHOUT THE COURSE OF THE C/P. HOWEVER VESSEL NOT BE INVOLVED IN
CONTINUOUS STS OPERATIONS.

13. BUNKER CLAUSE

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

INCLUDED IN THE DAILY RENTAL OF THE VESSEL.

14.- COMMISSION
N/A

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

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

17.-INSURANCE:
17.1 SELLER, AT HIS OWN EXPENSE, SHALL PROCURE A POLICY WITH A
FIRST- CLASS MARINE INSURANCE INSTITUTE TO COVER THE 110% (ONE
HUNDRED AND TEN PERCENT) OF THE VALUE OF THE CARGO.
17.2 THE INSURANCE POLICY WILL COVER ALL RISKS OF LOSS OR DAMAGES
TO SAID CARGO, INCLUDING WAR, HIJACKING, EXPLOSION ETC. FROM THE
TIME THE CARGO HAS PASSED THE SHIP’S MANIFOLD FLANGES AT THE
LOADING PORT. A COPY OF THE SAID POLICY WILL TO BE SUBMITTED TO
BUYER WITH EVERY LOAD SET OF DOCUMENTS.
17.3 MARINE INSURANCE WILL COVER ALL RISK, OF LOSS OR DAMAGE TO
SAID CARGO, INCLUDING WAR, HIJACKING, EXPLOSION ETC. UNTIL CARGO
COMMENCES TO PASS THE SHIP’S MANIFOLD FLANGES AT THE DISCHARGE
PORT.

Page 4 of 7
 CONTRACT REFERENCE # 23/01/2023-01
17.4 ANY ADDITIONAL PREMIUMS PAYABLE BY OWNERS IN RESPECT OF WAR RISKS

Page 5 of 7
 CONTRACT REFERENCE # 23/01/2023-01
UNDER THEIR POLICIES OF INSURANCE THAT ARE INCURRED BY REASON OF
VESSEL TRADING.
17.5 TO EXCLUDE AREAS NOT COVERED BY OWNERS' BASIC WAR RISK
INSURANCE SHALL BE FOR CHARTERS ACCOUNT. ADDITIONAL PREMIUMS ARE
PAYABLE TOGETHER WITH FREIGHT WITH SUPPORTING DOCUMENTS TO FOLLOW.

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

19. NARCOTICS CLAUSE

19.1 IN PURSUANCE OF THE PROVISIONS OF THE U.S. ANTI DRUG ABUSE ACT
1986, OR ANY REENACTMENT THEREOF, THE CHARTERERS WARRANT TO
EXERCISE THE HIGHEST, DEGREE OF CARE AND DILIGENCE IN
19.2 PREVENTING UNMANIFESTED NARCOTIC DRUGS AND MARIJUANA TO BE
LOADED OR CONCEALED ON BOARD THE VESSEL. NON-COMPLIANCE WITH THE
PROVISIONS OF THIS CLAUSE SHALL AMOUNT TO BREACH OF WARRANTY FOR THE
CONSEQUENCES OF WHICH THE CHARTERERS SHALL BE LIABLE AND SHALL HOLD
THE OWNERS, THE MASTER AND THE CREW OF THE VESSEL HARMLESS AND SHALL
KEEP THEM INDEMNIFIED AGAINST ALL CLAIMS WHATSOEVER WHICH MAY ARISE
AND BE MADE AGAINST THEM INDIVIDUALLY OR JOINTLY. FURTHERMORE, ALL
TIME LOST AND ALL EXPENSES INCURRED, INCLUDING FINES, AS A
RESULT FOR THE CHARTERERS' BREACH OF THE PROVISIONS OF THIS CLAUSE
SHALL BE FOR THE CHARTERERS ACCOUNT AND THE VESSEL SHALL REMAIN ON
HIRE.
19.3 SHOULD THE VESSEL BE ARRESTED AS A RESULT OF THE CHARTERERS’
NON-COMPLIANCE WITH THE PROVISIONS OF THIS CLAUSE, THE CHARTERERS
SHALL AT THEIR EXPENSE TAKE ALL REASONABLE STEPS TO SECURE THAT
WITHIN A REASONABLE TIME THE VESSEL IS RELEASED AND AT THEIR EXPENSE
PUT UP BAIL TO SECURE RELEASE OF THE VESSEL. THE OWNERS SHALL REMAIN
RESPONSIBLE FOR ALL TIME LOST AND ALL EXPENSES INCURRED, INCLUDING
FINES, IN THE EVENT THAT UNMANIFESTED NARCOTIC DRUGS AND MARIJUANA
ARE FOUND IN THE POSSESSION OR EFFECTS OF THE VESSEL'S PERSONNEL.

20.- GENERAL/STANDARD SUB-CLAUSES

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

Page 6 of 7
 CONTRACT REFERENCE # 23/01/2023-01
19.7) SHELL TIME 4 WITH CHARTS FURTHER TERMS INCL SANCTION CLAUSES,
ANTI CORRUPTION CLAUSE TO BE AGREED. OWNERS FURTHER TERMS TO BE

Page 7 of 7
 CONTRACT REFERENCE # 23/01/2023-01
AGREED. ALL OTHER TERMS WITH OTHER MUTUALLY AGREED ANNEXED OWNERS'
TERMS & CONDITION TO TC, BELOW ADDITIONAL CLAUSES AND AS PER
SHELLTIME
4 CP WITH OWNERS MUTUALLY AGREED BELOW AMENDMENTS AND REST LOGICAL
AMENDMENTS ONLY

21.- CHARTER PARTY ADMINISTRATION CLAUSE:

21.1 CHARTER PARTY TERMS AND CONDITIONS ARE EVIDENCE BY THE FIXING
CONFIRMATION BETWEEN THE PARTIES.
21.2 ALL THE MOVEMENTS OF THE SHIP MUST BE AUTHORIZED BY THE CHARTERER
PARTY DUE LOGISTICS AND CLIENT’S REQUIREMENTS.
22.3 THE VESSEL’S MASTER SHALL ADVICE THE OWNER AND CHARTERER,
AGENT’S AT THE PORT OF LOADING AND PREVIOUS TO ARRIVE AT THE PORT OF
DISCHARGE, THE SHIP’S ETA 120 HOURS BEFORE ARRIVAL, HER NAME,
TONNAGE, FLAG, DRAUGHTS ON BOARD QUANTITIES, AND ACTUAL TIME OF
ARRIVAL 48,36,24, AND 12 HOURS BEFORE HER ARRIVAL TO THE DISCHARGE
PORT.
22.4 ONE TO THREE CHARTERER REPRESENTATIVES CUT BE ON BOARD ALL THE
TIME PREVIOS NOTIFICATION AND ARRANGEMENTS WITH THE OWNER. OWNER
WILL BE NOTIFIED THE CHIEF NAME AND OBLIGATIONS OF THE PERSONS WHO
WILL BE ON BOARD.
22.5 COMMUNICATION TO THE PARTIES: CONTACT INFORMATION.
22.5.1 JM SHIP SERVICE PANAMA / CONTACT PERSON / JUAN M GONZALEZ /
MOVIL +507 62793361 / E MAIL XXXXX
22.5.2 ECOR ENERGY LLC / CONTACT PERSON / OSCAR PAEZ ORTIZ / MOVIL
PHONE NUMBER 573155129557/ EMAIL – [email protected].
22.6 ANY COMMUNICATION IN CONNECTION WITH THIS CONTRACT MUST BE IN
WRITING AND, UNLESS OTHERWISE STATED, MAY BE DELIVERED BY E-MAIL,
BY COURIER SERVICE OR BY FAX. UNLESS IT IS AGREED TO THE CONTRARY,
ANY CONSENT OR AGREEMENT REQUIRED UNDER THIS CONTRACT MUST BE GIVEN
IN WRITING.

22.7 LEGAL ADDRESSES

22.7.1 COMPANY NAME / JM SHIP SERVICE PANAMA

ADDRESS: XXX

22.7.2 COMPANY NAME / ECOR ENERGY LLC.

ADDRESS: SUITE 403-A 1013 CENTER RD, WILMINGTON, DE 19805

23. SPECIAL CONDITION

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

23.2. THE PARTIES HEREBY AGREE THAT ALL TERMS, WHICH ARE NOT
SPECIFICALLY CONFIRMED AND AGREED UPON IN THIS CONTRACT, MUST BE
REFERRED TO THE GENERAL RULES OF THE ICC INCOTERMS EDITION 2010
WITH LATEST AMENDMENTS.

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

Page 8 of 7
 CONTRACT REFERENCE # 23/01/2023-01
24. CLAIMS

Page 9 of 7
 CONTRACT REFERENCE # 23/01/2023-01
24.1. ANY CLAIMS THAT EITHER PARTY MAY HAVE, DUE TO AN
OCCURRENCE, HAS TO MUST BE SUBMITTED TO THE OTHER PARTY WITHIN A
PERIOD OF TWO
(2) WEEKS FROM THE DATE OF THAT OCCURRENCE.

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

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

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

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

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

AGREE TO ACKNOWLEDGE SUCH CLAIMS BY WRITTEN ACCEPTANCE THEREOF.

25. CONFIDENTIALITY NON – DISCLOSURE / NON-CIRCUMVENTION

25.1 THE UNDERSIGNED PARTIES DO HEREBY ACCEPT AND AGREE TO THE

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

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

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

25.3 THIS AGREEMENT SHALL BE KEPT IN THE STRICTEST CONFIDENCE

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

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

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

26. SHIPPING DOCUMENTS

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

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

26.3 ANY OTHER DOCUMENTS PERTAINING OR RELATED TO THE CURRENT TRIP

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

Page 10 of 7
 CONTRACT REFERENCE # 23/01/2023-01
BY THE SIGNATURES BELOW, THE PARTIES AFFIRM THEY ARE AUTHORIZED
SIGNATORIES OF THEIR COMPANY AND EACH HAS HAD ADEQUATE OPPORTUNITY
TO REVIEW WITH THEIR LEGAL COUNSEL AND HAS UNDERSTOOD, AGREED AND
ACCEPTED THIS SALES AND PURCHASE AGREEMENT EFFECTIVE AS OF THE DATE
STATED ABOVE AND SIGNED.

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

AND CONDITIONS STIPULATED HEREIN WITHOUT CHANGE.

JANUARY 23th, 2023

VESSEL OPERATOR THE CHARTERERS

**END OF THE CONTRACT**

NOTARIZACIÓN:

Page 11 of 7