AMENDMENT NO. 1 TO CHARTER PARTY DATED OCTOBER 6, 2005 (THE “CHARTERPARTY”) BETWEEN CATHY TANKER CORPORATION (THE “OWNERS”) AND DHT CATHY AFRAMAX CORP. (THE “CHARTERERS”) FOR THE VESSEL OVERSEAS CATHY
Exhibit
10.4
EXERCISE
OF OPTION TO EXTEND AND
AMENDMENT
NO. 1
TO
CHARTER
PARTY
DATED
OCTOBER 6, 2005
(THE
“CHARTERPARTY”)
BETWEEN
XXXXX
TANKER CORPORATION (THE “OWNERS”)
AND
DHT XXXXX
AFRAMAX CORP. (THE “CHARTERERS”)
FOR THE
VESSEL
OVERSEAS
XXXXX
Pursuant
to clause 99 of the Charterparty, the Charterers hereby declare, as of November
26, 2008, the exercise of the first 12 months of the option period which shall
commence on January 17, 2012 at 0001 hours GMT and end on January 16, 2013 at
2400 hours GMT (the “Option
Period”).
As of the
date of this agreement, the Owners and the Charterers hereby amend the terms of
the Charterparty as follows:
(1)
Notwithstanding clause 99, the rate during the Option Period shall, at the
option of the Charterers, be:
a)
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usd
25,700 per day
during the period from January 17, 2012 at 0001 hours GMT until October
16, 2012 at 2400 hours GMT and usd 26,000 per day during
the period from October 17, 2012 at 0001 hours GMT until January 16, 2013
at 2400 hours GMT; or
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b)
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the
market rate as determined by the Association of Shipbrokers Agents and
Agents Tanker Broker Panel plus five percent provided, however, that the rate
payable during the Option Period shall never be less than usd 20,700 per
day.
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(2)
Except as expressly amended by this agreement, the terms and conditions of the
Charterparty remain unchanged and in full force and effect including, without
limitation, the profit sharing arrangement between the Owners and the
Charterers.
January
15, 2009
For Xxxxx Tanker Corporation | For DHT Xxxxx Aframax Corp. | |||
By:
/s/ Ole Xxxxx Xxxxxx
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By:
/s/ Mats Xxxxxxxx
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Name:
Ole Xxxxx Xxxxxx
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Name:
Mats Xxxxxxxx
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Title: Vice
President
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Title:
President
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