Clause.39 Charterers to use the vessel in strict accordance with her register documents as well as international and national convention, agreements, standard acts and documents.

Any fines, costs and expenses associated with the arrest or delays of vessel due to sailing in prohibited areas and ports, to be settled by Charterers and for Charterers account only

If Charterers not to follow this clause Owners have the right to cancel the Time-Charter in any time.

Clause.40 Master to settle any stevedore damage caused to vessel during cargo operations. Charterers to arrange without Owners participation and to pay for any repairs of the vessel associated with the above damages provided Master fulfilled his obligations as follows:

- Master to report in details to Charterers/Charterers agents in writing by telex/cable immediately on occurrence of damages latest 24 hours after occurrence, in any case before leaving the port.

- Hidden damages to be declared on discovery but latest within reasonable time.

Clause.41 Vessels will be delivered in Time-Charter at port Noviy(Russia) exact date and time to be detween parties additionally. Master to advise Charterers and Owners by telex quantity of bunker on board at the time of delivery.

Vessel will be Re-delivered from Time-Charter at 1 good safe sea port when the last pilot leaves the vessel.

Clause.42 Master to sign on behalf of Charterers Bills of Lading showing Charterers as carrier.Charter Party and Charterers to indemnify Owners to the that Owners incur any liability in excess of that conferred by this Charter. All Bills Lading to be issued in accordance with mates receipts.

Clause.43 Charterers are responsible for all consequences and are to pay all penalties, if they are connected with cargo, also in case of incorrect issuing of cargo and customs documents, nonreadiness of cargo for loading or discharging.

Clause.44 During the Time-Charter period the Owners have the right to substitute the ship to her sister-ship without any additional expenses for Charterers.

Clauses.45 Neither Charterers nor any persons claiming under them, and whether by way of substitution, subrogation or assignment, or in any other way whatsoever or in any capacity whatsoever, shall bring or permit to be brought any action or other legal proceeding, whether by way of obtaining security or otherwise, against Owners or any vessel beneficially owned, managed or operated by, or any assets or property

belonging to, Owners in respect of any dispute or any claim arising under and/or out of this Charter Party until such dispute or claim shall have first been heard and determined by arbitrators in accordance with the arbitration provisions of this Charter Party, or in case of any appeal, until final judgment of the Court properly seized of the ultimate jurisdiction in respect of any appeal therefrom. It is expressly agreed that the obtaining of an arbitration award or< in case of appeal, final unappeasable judgment as above shall be a condition precedent to Charterers rights to bring any action or other legal proceedings in respect of any dispute or claim.

Clause.46 Within the context of this Charter Party “good weather conditions” are understood to mean up to and including Beauport force(3), it is also understood that the word “about” in respect of speed and bunker consumption is 5% more or less. Evidence of weather conditions to be taken from the vessels deck log.