Articles & White Papers
Maritime

ShellTime 4

ShellLNGTime 1

Corresponding section, changes/additions

Clause 1

Description and Condition of Vessel

Clause 1

Description and Condition of Vessel

Additional provision: "if she is fifteen years old or over she shall obtain and maintain a LNG Condition Assessment Programme ("CAP") of not less than two (2);"

Altered wording in provision 1 (c): "she shall be in every way fit to load, carry discharge and measure Liquefied Natural Gas ("LNG")

Altered wording in provision 1 (e): "her tanks, valves and pipelines shall be liquid and gas tight;"

Altered wording in provision 1 (f) (i): "at sea, fuel oil in any proportion with LNG Boil-Off for main propulsion and…"

Additional provision 1 (g): "she shall have her cargo measuring equipment and instrumentation calibrated and certified, and this shall be verified (if required by Charterers) by the relevant inspectorate at each load port;"

Additional provision 1(h): "she shall have her insulation spaces prepared as per her containment system design conditions;"

Additional wording in provision 1 (i): "she shall comply with the regulations in force so as to enable her, if her size permits, to pass through the Suez Canal and Panama Canal…"

Additional sentence in provision 1 (j): "she shall have on board all certificates, documents and equipment required from time to time by any applicable law to enable her to perform the charter service without delay. For the avoidance of doubt this will include, but will not be limited to, the Vessel''s Certificate of Financial Responsibility;"

Clause 2

Shipboard Personnel and their Duties

Clause 2

Shipboard Personnel and their Duties

Altered/Additional wording in provision 2 (a) (vi): "the nationality of the Vessel''s officers given in the Shell LNG Form B referred to in Clause 1 (k) will not change without Charterers'' prior agreement which shall not be unreasonably witheld.

Additional provision 2 (c): "Owners shall at all times have responsibility for the proper stowage of the cargo and shall keep a strict account of all cargo loaded, Boil-Off, and cargo discharged."

Clause 3

Duty to Maintain

Clause 3

Duty to Maintain

Materially equivalent

Clause 4

Period Trading Limits

"Charterer may order the vessel to ice-bound waters or to any part of the worls outside such limits…"

Deletion of wording in provision 4 (c): "…Subject as above, the vessel shall be loaded and discharged at any places as the Charterers may direct, provided that Charterers shall exercise duel diligence to ensure that any ship-to-ship transfer operations shall conform to standards not less than those set out in the latest published edition of the ICS/OCIMF Ship-to-Ship Transfer Guide."

Deletion of provision 4 (d): "Unless otherwise agreed, the vessel shall be delivered by Owners dropping outward pilot at a port in [**] at Charterers'' option."

Deletion of provision 4 (e): "The vessel will deliver with last cargo(es) of and [**] will redeliver with last cargo(es) of [**]."

Provision 4 (f) moved to Clause 7 ShellLNGTime: "Owners are required to give Charterers [**] days prior notice of delivery and Charterers are required to give Owners [**] days prior notice of redelivery."

Clause 4

Period Trading Limits

Altered wording of provision 4 (a): "Charterer may order the Vessel beyond such limits…"

Additional sentence of provision 4 (b): "Any time during which the Vessel is off-hire under this charter may be added to the Charter period in Charterer''s option up to the total amount of time spent off-hire…Charterers shall exercise this option no later than [**] days before the date in which the charter would otherwise terminate. Any period of off-hire occuring after the time and date on which Charteers have declared their opiton may be added to the charter period as long as Charterers have declared that they will be so added within [**] days of the end of the relevant period of off-hire."

Additional provision 4 (d): Owners warrant that the Vessel is compatible with the LNG Terminals listed in Appendix A for berthing, unberthing, loading and discharging LNG cargo without modification to the Vessel. In the event that such modification to the Vessel becomes necessary as a result of changes in international regulations or standards and/or are required by the Vessel''s Classification Society or Flag State, the cost of such modification shall be for the Owners'' account, and the Vessel shall be off-hire for the time required to effect such modifications unless this can be achieved without affecting the performance of the Vessel under this charter.

Clause 5

Laydays Cancelling

"The vessel shall not be delivered to Charterers before [**] and Charterers shall have the option of cancelling this charter if the vessel is not ready and at their disposal on or before [**]."

Clause 7

Delivery, Redelivery, Laydays and Cancelling

Altered/additional wording: "Owners shall deliver the Vessel to Charterers at the pilot boarding station inbound/outbound* at [**]. Unless otherwise agreed, the Vessel shall not be delivered to Charterers before [**] hrs local time [**] but must be delivered to Charterers no later than [**] hrs local time [**]. Charterers shall have the option of cancelling this charter if the Vessel is not ready and at their disposal during this period. Charterers shall re