INTERTANKO’s International Chartering Forum Welcome to INTERTANKO’s International Chartering Forum Kindly hosted by the Tsakos Group Athens, 14 April 2005

Antitrust Compliance Statement INTERTANKO is firmly committed to maintaining a fair and competitive environment in the world tanker trade, and to adhering to all applicable laws which regulate INTERTANKO’s and its members’ activities in this market. These laws include, of course, the antitrust laws, which the US, the European Union and many nations of the world have adopted to preserve the free enterprise system, promote competition and protect the public from monopolistic and other restrictive trade practices. This meeting will be conducted in compliance with INTERTANKO existing antitrust guidelines

Our team of Speakers: Prof. Martin Davies, Tulane Law School Bill Honan, Holland & Knight Patrick Shaw, Ince & Co Rajeev Philip, Steamship Mutual Tean Lim, Rajah & Tann

Some hidden gems from INTERTANKO Model clauses Intankbill 2003 Chartering publications C/P advice service Freight and Demurrage Information Pool Freight and Demurrage Dbase www.intertanko.com/legal

Examples of INTERTANKO’s Clauses Agency Demurrage Pumping ROB Turkish Straits Transit Quality Management Clause MSDS

INTERTANKO Agency clause   "Where charterers under this charterparty have the right to nominate the vessel's agents at any port and they wish to exercise such right, they shall do so at the same time as the nomination of such port and they shall exercise due diligence to ensure that such agents are reliable, competent, competitive in price and service and (where possible) have ISO 9002 (or substantially equivalent) certification. If charterers fail to nominate the agent at the time that the port is nominated then owners may reject any subsequent nomination of agents by charterers. The appointment of such agents is subject always to owners' right to appoint protective agents in any port if they so wish."

INTERTANKO’s Quality Management Clause “Owners and charterers each confirm to the other their commitment to the total quality of their performance under this charter and will so act in relation to all aspects of their contractual obligations as to ensure that they each accord to the other the full rights set out in the terms hereof.”

Chartering Publications Intankbill 2003 A Guide to Tanker Charters Tanker Bills of Lading – A Practical Guide

Freight and Demurrage Information Pool (FDIP) Established in 1983 Aim: speed up the response to and payment of claims Quarterly FDIP Statement and Circular

www.intertanko.com

Programme - am “What’s new in New York” – Bill Honan “A very dynamic business” – A review of some recent changes in tanker chartering law and practice – Tean Lim “Shellvoy 6 – new provisions reviewed” – Patrick Shaw

Programme – am (cont) Programme – pm “Bills of Lading – Indemnities & Bank Guarantees” – Martin Davies “Terrorism, Security & the Allocation of Contractual Risk”- Rajeev Philip Programme – pm Case studies