1.1. These are the general standard terms and conditions which apply to all bunkering contracts concluded between Meck Petroleum DMCC (“Meck Petroleum”) and another party (the “Buyer”) to supply a Vessel with marine bunker fuels, and/or lubricants (the “Products”). They shall constitute the full and final agreement between the parties (the “Contract”) which supersedes and replaces any other agreements made between the parties prior to the Contract and any other terms that the Buyer may seek to impose unless agreed in writing by Meck Petroleum.

1.2. Each Contract will be as specifically negotiated between Meck Petroleum and the Buyer as evidenced by Meck Petroleum’s confirmation (the “Confirmation”) and in the event of any conflict between the present terms and the conditions and the terms of the Nomination, the terms of the latter shall prevail.

2.1. “Agent” means any entity acting on behalf of a Buyer or the Vessel, including but not limited to a ship manager, broker, or purchasing agent.

2.2. “Buyer” means the contracting party/ies identified in the Nomination including but not limited to any agent, principal, associate, manager, partner, servant, parent, subsidiary, owner or shareholder thereof and any vessel and/or vessel owner and/or charterer and/or operator to which the Products have been delivered to and/or any other party benefiting from the consumption of the Products.

2.3. “Confirmation” means Meck Petroleum’s written confirmation of the supply.

2.3. “Contract” means the Confirmation and the Terms and Conditions and in the event of  any conflict between the present terms and the conditions and the terms of the confirmation, the terms of the latter shall prevail.

2.4. “Due Date” means the date specified in the Confirmation for payment of the Price or in the absence of such date the date of delivery

2.5. “Marine Fuel” means the grades of bunker fuel oil, intermediate bunker fuels, marine fuel oil, thin fuel oil, marine diesel oil, light marine diesel fuel and gas oil or any other type and grade of oil and lube oil and any other products or services contracted to be delivered or arranged to be delivered by Meck Petroleum as specified in the Confirmation.

2.6. “Physical Supplier” means the person/company which physically supplies the Products to  the Vessel together with these persons’/companies’ servants, agents, successors, sub-contractors and assignees.

2.7. “Point of Delivery” means the place at which delivery of the Products is to be affected as provided in the Confirmation, or as thereafter confirmed, advised or revised by Meck Petroleum.

2.8. “Price” means the basic cost of the Marine Fuel calculated by multiplying the unit price stated in the Confirmation by the quantity of the Products delivered to the Vessel in addition to all and any taxes, levies, duties, expenses, delivery charges, barging/trucking fees, jetty fees, fees imposed by the government or authorities or competent organizations at the Point of Delivery arising out of and/or incurred in connection with the delivery of the Marine Fuel.

2.9. “Terms and Conditions” mean these standard terms and conditions of Meck Petroleum.

2.10. “Vessel” means the Vessel identified in the Confirmation to which a delivery of the Marine Fuel is made and/or on board which it is consumed, which shall include any on-shore tank, rig, or other unit or installation supplied by the Seller.

2.11. The headings herein shall be used only for convenience and shall be ignored for the interpretation of the Terms and Conditions.

3.1. All information regarding the request of the Marine Fuel and their delivery to the Vessel

(i.e. vessel’s name, agents, E.T.A. proposed by the Buyer or otherwise agreed between

Meck Petroleum and the Buyer, delivery port, specifications and quantities of the

Products, grade etc) will be notified by the Buyer to Meck Petroleum in writing. Any

amendment in the above will be notified in writing by the Buyer to Meck Petroleum in

due time prior to the delivery of the Marine Fuel.

3.2. The Buyer shall inform in writing Meck Petroleum directly or through the Buyer’s Agent,

at least 48 hours prior (excluding weekends and holidays), of the Vessel’s readiness to

receive delivery and the exact required quantity of the Products. Such notice shall be

deemed cancelled if the Vessel has not arrived within 2 days after the Vessel’s earliest

estimated lifting date, as per the Nomination. In such a case, Meck Petroleum reserves

the right to refuse delivery of the Marine Fuel, as already nominated or to renegotiate

the prices/quantities.

3.3. If the Buyer cancels the Nomination for any reason whatsoever any charges incurred by

Meck Petroleum are for the Buyer’s account.

3.4. The Buyer shall indemnify and hold harmless Meck Petroleum against all damage and

liabilities arising from any acts or omissions of the Buyer or its servants, ship’s officers or

crew in connection with the delivery of the Marine Fuel under these Terms and

Conditions.

3.5. Each sale of the Marine Fuel shall be confirmed by the Confirmation which shall

incorporate the Terms and Conditions by reference.

4.1 A binding Contract comes into existence when Meck Petroleum sends the Sales
Confirmation to the Buyer. If Meck Petroleum, for whatever reason, fails to issue or send
a Sales Confirmation, a Contract pursuant to these Terms and Conditions shall govern the
sale of the Marine Fuel nonetheless, and a Contract pursuant to these Terms and
Conditions shall be deemed to have come into existence.

4.2. In the event of any conflict between the present Terms and Conditions and the terms of
the Nomination and/or Confirmation, the terms of the latter shall prevail but only to the
extent of the conflict, and in all other respects, the Terms and Conditions shall apply.

4.3. Should the Contract be entered into by an Agent for the Buyer, whether this is disclosed
or undisclosed, then such Agent shall be deemed as principal together with the Buyer
and be jointly and severally liable for and guarantees the proper performance of the
obligations of the Buyer under the Contract.

5.1. Wherever Meck Petroleum accepts the Nomination, all such deliveries shall be within
port limits, unless delivery outside of such port limits is agreed in advance in writing by
Meck Petroleum.

5.2. All deliveries under a Contract shall be made ex-wharf or ex-lighter/barge in accordance
with the delivery procedures customary at the Point of Delivery unless otherwise
specifically agreed in the Sales Confirmation, however, always in accordance with all
applicable regulations, requirements, and procedures adopted by the authorities at the
Delivery Port. The Buyer shall be solely responsible for ascertaining, acquainting itself,
and complying with all such regulations, requirements, and procedures, and the Buyer
shall indemnify Meck Petroleum for any losses, costs, and expenses incurred by Meck
Petroleum following the Buyer’s failure to comply with such regulations, requirements,
and procedures.

5.3. Meck Petroleum shall deliver the Marine Fuel within the agreed delivery window as
stated in the Sales Confirmation. The Buyer shall give Meck Petroleum upon ordering the
Marine Fuel supply, written notice specifying: i. the name of the Buyer, ii. the Sales
Confirmation, iii. name of the Vessel, iv. the port of delivery, v. the local port agent, and
vi. the Vessel’s estimated time of arrival.

5.4. If the Vessel is not available to receive the Marine Fuel within the agreed delivery period
or within 2 hours of the arrival time as stated in the last arrival notice, Meck Petroleum
may, at its discretion, revise the Price and date of supply or terminate the Contract, and the Buyer shall be liable for any cost and losses incurred by Meck Petroleum as a result of the delay.

5.5. In the event of the Buyer cancelling the delivery or Meck Petroleum’s termination in
accordance with Clause 5.4, Meck Petroleum shall, as liquidated damages, be entitled to
charge and receive from the Buyer a cancellation fee of US$20 per metric ton for the
Marine Fuel ordered under the Contract, and Meck Petroleum shall be entitled to
additional damages for any documented costs or losses incurred by Meck Petroleum
exceeding these liquidated damages.

5.6. If the Buyer fails or refuses to take delivery, in part or in full, or causes delays to Meck
Petroleum’s or the Physical Supplier’s facilities in effecting deliveries, the Buyer shall pay
demurrage to Meck Petroleum’s or the Physical Supplier’s at the established rates, and
reimburse Meck Petroleum or the Physical Supplier for all other expenses in connection
therewith.

5.7. Meck Petroleum shall use reasonable endeavours to commence delivery within the
delivery period agreed in the Confirmation. However, no guarantee of the time or
pumping rate of delivery is given, and Meck Petroleum shall in no event and regardless of
cause be liable for any losses, damages, or demurrage, whatsoever and howsoever
incurred by the Buyer due to and/or arising out of and/or in connection with any delayed
delivery of Marine Fuel under the Contract, including delay due to congestion at the
supplier’s delivery facilities, the refinery, the shore terminal, or to any other (prior or
subsequent) commitment(s) of available barges in the Buyer, any public holidays at the
delivery Port, shortage of Marine Fuel, breakdown or underperformance of the supplied
equipment, and/or any other cause or conditions outside the control of Meck Petroleum.

5.8. The Buyer shall ensure that the Master of the Vessel shall:
a. advise Meck Petroleum, in writing prior to delivery, of the maximum allowable
pumping rate and pressure and agree on communication and emergency shutdown
procedures;
b. Meck Petroleum, in writing prior to delivery, of any special conditions, difficulties,
peculiarities, deficiencies, or defects in respect of and particular to the Vessel which might
adversely affect the delivery of the Marine Fuel; and c. provide a free and safe side of the
Vessel to receive the Marine Fuel and render all necessary assistance which may reasonably
be required to moor or unmoor the Vessel and/or the delivery barge, as appropriate.

5.9. The Buyer shall make all connections or disconnections between the pipelines or delivery
hoses and the Vessel’s receiving lines and shall provide all necessary equipment to
receive promptly each and every consignment of the delivery. The Buyer shall be

responsible for ensuring that the Marine Fuel is delivered at a safe rate and pressure and
that all equipment utilised are in a safe and satisfactory condition.

5.10. The Buyer shall indemnify and hold harmless Meck Petroleum against all damages and
liabilities arising from any acts or omissions of the Buyer or its servants, the Vessel’s
officers or crew in connection with the delivery of the Marine Fuel under the Contract.

6.1. Upon completion of delivery of the Marine Fuel, the Master of the Vessel shall give to
the Physical Supplier any form required by the latter properly signed and stamped of
which one copy shall be retained by the Master or the representative of the Buyer.

7.1. Meck Petroleum or its representatives shall arrange for a minimum of three (3)
representative samples of each grade of the Marine Fuel to be drawn from barge
manifold throughout the entire bunkering operation. Such sampling shall be performed
in the presence of Meck Petroleum or its representatives and the Buyer or its
representatives, but the absence of the Buyer or its representatives during all or any part
of the sampling process shall not prejudice the validity of the samples. Samples shall be
drawn according to the physical supplier’s standard procedures, or the procedures
applicable in the port.

7.2. The samples shall be securely sealed and provided with labels showing the Vessel’s
name, physical supplier, product name, delivery date and place, and seal number,
authenticated with the Vessel’s stamp and signed by Meck Petroleum’s representative
and the Master of the Vessel or his representative. The sample seal numbers shall be
inserted into the Bunker Delivery Note.

7.3. One (1) sample shall be retained by Meck Petroleum for thirty (30) days after delivery of
the Marine Fuel, or if requested by the Buyer in writing, for as long as the Buyer
reasonably requires. The other two (2) samples shall be retained by the Vessel, one of
which is dedicated as the MARPOL sample. No samples drawn by the Buyer’s personnel,
or any samples subsequently taken shall be allowed as evidence of the quality of the
Products. If any seals have been removed or tampered with by an unauthorized person,
such samples shall be deemed to have no value as evidence.

7.4. In the event of a dispute with regard to the quality of the delivered Marine Fuel, the
samples retained by Meck Petroleum shall be deemed conclusive and final evidence of
the quality of the product delivered. The conformity of the Marine Fuel shall be
determined in accordance with ISO 4259 and, to the extent that the components
detected are within the allowed tolerances in respect of reproducibility or repeatability in quality, are accepted. As set out in ISO 4259, the Marine Fuel shall be deemed to be compliant according to ISO 8217, unless otherwise agreed in the Confirmation.

7.5. If the Buyer’s complaint concerning the quality of the Marine Fuel is based on the
presence of substances that are not part of the quality specifications set out in Table 1
or Table 2 of ISO 8217, the Buyer shall show that the substances in question, without a
reasonable doubt, jeopardize the safety of the Vessel or adversely affect the
performance of the machinery.

7.6. The sample retained by Meck Petroleum shall be forwarded to a mutually agreed,
independent, and certified laboratory for analysis, the results of which are to be made
available to both parties. If Meck Petroleum and the Buyer cannot agree on an
independent laboratory to perform mutual analysis or if the Buyer fails to reply to Meck
Petroleum’s notice hereof within seven (7) days from receipt, Meck Petroleum may, at
its sole discretion, appoint an independent laboratory to perform the analysis. The
analysis of the independent laboratory shall be final and binding for all interested
parties. The costs of any tests and analysis carried out by the independent laboratory
shall be borne by the Buyer if the results are in favour of Meck Petroleum, or by Meck
Petroleum if the results are in favour of the Buyer.

7.7. The seal must be breached in the presence of both parties unless one or both parties
have declared in writing that they will not be present, or if a party fails to be present at
the appropriate time and place despite having been given sufficient and proper notice
of at least seven (5) days in advance.

8.1. By accepting Meck Petroleum’s Nomination and Confirmation, the Buyer hereby
confirms and warrants that the Buyer is in full compliance with the Sanctions Laws; that
the Buyer is purchasing the Marine Fuel as principal and not as agent, trustee, or
nominee of any person or entity with whom transactions are prohibited or restricted
under the Sanctions Laws; and the purchased Marine Fuel will not be used in any manner
whatsoever directly or indirectly in connection with any entities, persons, projects,
contracts, transactions, or payments that contravene any Sanctions Laws. Further, in
relation to these Sanctions Laws, the Buyer confirms and warrants that the Vessel to be
supplied is not and/or will not be:
a- A designated vessel or flagged by a sanctioned country.
b- Owned or chartered by or related to any designated entity or person under the
Sanctions Laws.
c- Coming from or on its way to visit countries or regions designated under the
Sanctions Laws.
d- Involved in the transfer of goods that may be prohibited under the Sanctions Laws; or

e- Engaged in any conduct designed to evade any Sanctions Laws, including but not
limited to turning off transponders, reporting false travel plans, deviating from
reported travel plans, and engaging in ship-to-ship transfers to hide the origin of goods.

8.2. If at any time during the performance of the Contract, Meck Petroleum becomes aware
or has reasonable grounds to believe that the Buyer, the Vessel, and/or any related
parties are in breach of the warranty as aforesaid, Meck Petroleum shall have the option
to immediately cancel the Contract for the Buyer’s account and risk. Under such
circumstances, Meck Petroleum shall not be held liable for any loss, delays, claims, or
damages incurred by the Buyer, and the Buyer shall be liable to indemnify Meck
Petroleum against any and all claims, including the return of any payment, losses,
damages, costs, and fines whatsoever suffered by Meck Petroleum resulting from any
breach of warranty as aforesaid and in accordance with the Contract.

8.3. The Buyer must inform Meck Petroleum immediately if the Buyer becomes aware of or
has reasons to believe that any of the above items are fulfilled/apply. Should the Buyer
breach its obligation to inform Meck Petroleum, the Buyer shall fully indemnify and keep
Meck Petroleum harmless for any damage or loss caused by such breach, including
consequential or liquidated damage.

8.4. The Buyer acknowledges that anticorruption laws and regulations, including but not
limited to the U.S. Foreign Corrupt Practices Act (“FCPA”), shall apply to the parties. The
Buyer and Seller shall comply with all applicable anti-corruption laws and regulations
and will not offer, promise, pay, or authorize the payment of any money or anything of
value, or take any action in furtherance of such a payment, whether by direct or indirect
means, to any public official or private individual to influence the decision of such a
person in the performance of his duties to a government or to his company. Any breach
of this clause will void the related Contract and, in the sole discretion of Meck Petroleum,
any other Contract between the parties, making any claims for payment, delivery, or any
other obligation of Meck Petroleum under this Agreement void. The Buyer is liable for
any and all costs or losses incurred by Meck Petroleum due to such breach and/or a
Contract becoming void as a consequence.

8.5. It shall be the sole responsibility of the Buyer to ensure that the Vessel, its crew, and
those responsible for its operation and management observe and comply with all health,
safety, and environmental laws and regulations with regard to the receipt, handling, and
use of the Marine Fuel.

8.6. The Buyer warrants that the Vessel now and at all times is and will be in compliance with
all governmental, international convention, and international shipping association
trading and pollution standards and regulations. The Buyer further warrants that the
Vessel will not be moored at a wharf or alongside other marine loading facilities of or
chosen by Meck Petroleum unless free of all conditions, deficiencies, or defects.

8.7. In the event of a spillage (which for the purpose of this clause shall mean any leakage, escape, spillage, discharge, or overflow of the Marine Fuel) before, during or after the supply of the Marine Fuel, the Buyer and the Vessel shall at their own expenses promptly take whatever action is necessary to give prompt notice to the governmental authorities and to effect cleanup such spillage, and shall pay all costs and expenses incurred in connection therewith.

9.1. The Buyer shall have the sole responsibility for the selection and nomination of the
proper grades of the Marine Fuel for use in the Vessel being supplied and Meck
Petroleum shall not be under any obligation to check whether the grade of the Marine
Fuel is suitable for the Vessel. The Marine Fuel shall be of the same quality generally
offered for sale at the time and place of delivery, for the grade of the Marine Fuel
ordered by the Buyer.

9.2. The Buyer shall advise the Seller, acting as a trader, as soon as reasonably practicable of
any circumstances that may give rise to the possibility of a claim related to the quality
of Marine Fuels. Any claim regarding the quality of the Marine Fuel delivered shall be
made in writing by the Buyer to the Seller together with a full explanation of the
circumstances and basis for the claim, including all relevant supporting documentation,
no later than fifteen (15) days from the date of delivery to the Vessel, failing which any
such claim shall be deemed to be irrevocably waived and time-barred.

9.3. Where the Buyer nominates Marine Fuel above the sulfur limits set out in MARPOL
Annex VI, the Buyer shall be fully responsible for, and on the Buyer’s, request provide
confirmation in writing, that the Vessel has working Abatement Technology (as defined
in MARPOL Annex VI) installed in compliance with MARPOL Annex VI or must include a
copy of a valid Fuel Oil Non-Availability Report (FONAR) and the relevant authorization
granted to the Vessel for that specific delivery of Products. The Buyer shall indemnify
Meck Petroleum, acting as a trader, of all costs or losses incurred as a result of the
Seller’s breach of this clause.

9.4. No comments will be allowed to be written on the delivery receipt. Meck Petroleum will
not accept any claims for short delivery or bad quality where the receiving procedures
are not followed.

9.5. The quantity of the delivered Marine Fuel shall be determined, at the physical supplier’s
option, from gauges/ullages of the barge or truck effecting delivery or by gauging/ullages
of shore tank if delivery is by pipeline. Such determination shall be considered to be the
sole valid and binding determination of the quantity supplied to the exclusion of all other
measurements. The Buyer has the right to have its representatives present during
measurements, but determination of the quantity shall be made solely by Meck
Petroleum, and will be conclusive.

9.6. An Officer of the Vessel’s crew or other senior representative of the Buyer is requested
to witness the opening and closing meter readings and road truck/barge soundings or
ullages before and after the completion of the bunkering operations. These readings will be
used as a final mean of measurement. Meck Petroleum will not accept a claim for short
delivery based upon figures obtained by measuring the Marine Fuel in the receiving Vessel’s
tanks or should the Vessel’s representative refuse to witness the barge figures (ullages or
soundings).

9.7. The volume shall be adjusted to 15oC under prevailing ASTM-IP Petroleum Measurement
tables. The quantity of Marine Fuel to be delivered shall be the quantity specified in the
Sales Confirmation with tolerance at the physical supplier’s option of +/- 5%.

9.8. Any claim regarding the quantity of the Marine Fuel delivered under the Contract shall
be notified in writing by the Buyer or the Master or the Chief Engineer of the Vessel to
the physical supplier before the delivery hoses are disconnected. Notice to the delivery
barge or physical supplier, including by way of a letter of protest or statement on the
BDN, shall not be adequate notice. The Buyer shall, in addition, make a written claim
providing a full explanation of the circumstances and basis for the claim, including all the
relevant supporting documentation, not later than fifteen (15) days from the date of
delivery of the Marine Fuel to the Vessel. Failure to make a timely notification as
stipulated in this clause shall result in the claim being deemed waived and barred.

9.9. Surveyors appointed by the Buyer are always subject to Meck Petroleum’s approval.

9.10. The Buyer shall be responsible to keep the delivered Marine Fuel segregated from any
Bunker Fuel(s) on board the Vessel or from a different delivery to the Vessel. In no event
shall Meck Petroleum be responsible for the quality and compatibility of the Marine Fuel
delivered if the Marine Fuel is mixed or comingled with any other product(s) on board
the receiving Vessel. The Buyer shall be solely responsible for any losses caused by
mixing or comingling the Products with any other oil, including any damage the Marine
Fuel may cause on other products on board the receiving Vessel.

10.1. The Price payable by the Buyer to Meck Petroleum for the Marine Fuel is stated in the
Confirmation, and it shall remain effective until the completion of delivery of the Marine
Fuel.

10.2. The price for delivery of the Marine Fuel sold hereunder shall be agreed upon between
the Buyer and Meck Petroleum. The Buyer shall, in addition to the Price, pay all
applicable duties, taxes and other such costs including, without limitation, those
imposed by governmental authorities, and barging and other delivery charges

11.1. Each of the following terms shall apply unless the Confirmation otherwise provides.

11.2. Payment of the Price will be made by the Buyer to Meck Petroleum in United States
Dollars, unless otherwise agreed in the Confirmation and confirmed in the issued invoice,
by bank transfer to the Meck Petroleum’s bank account, in full without set-off and/or
deductions (including without limitation bank charges) or counter-claim for any reason
whatsoever so that Meck Petroleum receives value of the payment in cleared funds on
or before the due date. If payment is withheld or set off by the Buyer, partly or in full,
due to alleged short delivery, quality dispute, or any other reason whatsoever or if any
sum due pursuant to any Contract is not paid within the agreed time, the Buyer shall
pay, in addition to the outstanding amount and any interest that accrues until the due
date, compensation to Meck Petroleum of 20% of the outstanding amount. The Buyer
recognizes that such compensation is a reasonable pre-estimate of the Seller’s loss,
taking account of factors including but not limited to the additional management time
incurred in dealing with the late payment, the loss of opportunity to reinvest the missing
funds, and currency exchange fluctuations.

11.3. Payment shall be deemed to have been made on the date the payment is credited to the
Seller’s bank account. Payment to any other bank account shall not release the Buyer
from its payment obligations. It should be noted that, acting as a trader, is not the
Physical Supplier of the Marine Fuel.

11.4. Timely payment is of the essence of these Terms and Conditions.

11.5. Where payment is delayed in part or in full, the Buyer shall pay to the Seller interest at
the rate of 2% per month or part thereof on the delayed sum due until payment is
received. In the event that the interest rate herein exceeds that permitted by any
applicable Law, it shall be substituted by the maximum rate so permitted. The Buyer
understands that the Meck Petroleum does not provide extended finance, and the
interest provisions herein reflect the costs to the Seller of unauthorized credit.

11.6. The Seller, acting as a trader, shall issue its invoice for the Price and shall provide a copy
of the BDN, but the Buyer’s liability shall not be contingent upon an invoice being issued
or the BDN being supplied.

11.7. It is the Buyer’s risk and responsibility to ensure that the Meck Petroleum’s bank details
are bona fides. Where payment is being made to an account for the first time, the Buyer
must check the bank details with Meck Petroleum by secure means (i.e., by telephone,
encrypted messaging, or in person). Meck Petroleum shall be entitled to allocate
payments from the Buyer at its sole discretion and regardless of any allocation stipulated
by the Buyer and shall be entitled to extinguish claims for compensation, interest, legal fees, or any other sums due from the Buyer in priority to invoices for Marine Fuel and regardless of the date that respective obligations arose.

11.8. Where credit is granted such that payment is deferred beyond the period stated in the
preceding clause, such credit is entirely discretionary, and Meck Petroleum shall at all
times be entitled to withdraw credit and demand immediate payment by giving written
notice without providing reasons. For example, but without limitation, credit may be
withdrawn if the Seller has reason to believe that the Buyer’s (or companies related to
the Buyer’s) financial circumstances have deteriorated or the Seller receives information
that causes it to alter its assessment of the credit risk. Where credit is withdrawn prior
to delivery of Marine Fuel then Meck Petroleum shall be entitled to withhold delivery
until payment of the Price is made or alternatively Meck Petroleum may cancel the
order, without recourse by the Buyer.

11.9. Where payment of any invoice is delayed beyond the due date, any Buyer who has the
right to bring a claim against any other party in relation to the Marine Fuels that are the
subject of any Contract, such claim shall be automatically assigned to Meck Petroleum
as at the date of the Seller’s written notice that Meck Petroleum has elected to take that
assignment. A Buyer in receipt of Meck Petroleum’s notice consents to be named as
claimant/plaintiff or co-claimant-co-plaintiff. Where the Seller receives payment as a
result of the assigned claim, such proceeds shall be set against any sum owing to the
Seller by the Buyer, including any claims for interest, compensation, or legal costs and
where the sum received exceeds the sum owed by the Buyer then the balance shall be
paid to the Buyer. The Buyer shall provide full cooperation to the Seller by way of witness
evidence and documentation to enable the Seller to pursue the assigned claim.

11.10. If the Seller incurs any costs in relation to attempts to collect any sums due from the
Buyer and arising out of any Contract the Buyer shall indemnify the Seller for such costs
and shall pay the same upon first demand. Such costs include but are not limited to
attestation and translation costs, fees of third-party debt collection agencies, lawyer’s
fees, court fees and deposits, and communication/postal costs, including costs arising
from the arrest, detention, or seizure of any Vessel or other assets of the Buyer.

11.11. The Seller may from time to time without the need for prior consent of Buyer, assign any
of its rights under the Contract to any third party and the assignee shall enjoy and be
entitled to exercise against Buyer any and all rights herein conferred upon Seller.

11.12. If at any time an amount is payable by the Buyer to the Seller, such amount may at the
sole discretion of the Seller be fully or partially paid by set-off against any amounts
payable to Buyer by the Seller and any Affiliate of Seller.

12.1. In the event of any claim presented in accordance with clause 9, the Buyer shall:

a. Cooperate with the Meck Petroleum, acting as a trader, and make all necessary
arrangements for Meck Petroleum or its representatives to investigate such claim,
including but not limited to the boarding and inspection of the Vessel, the interviewing of
the crew, and the inspection, review, and copying of Vessel’s relevant documents, logs,
and records; a
b. Take all reasonable steps and actions to mitigate any damages, losses, costs, and
expenses related to any claim of alleged off-specification or defective Marine Fuel,
including where possible consuming the Marine Fuel with the use of purification tools,
recommended dilution, or other appropriate measures.
c. Take all reasonable steps to preserve the Seller’s recourse against the physical supplier
of the Marine Fuel or any other third party. The Seller, acting as a trader, shall not be
liable in damages if the Buyer has failed to safeguard the Seller’s recourse against the
supplier of the Marine Fuel or any other third party or has failed to ensure the existence
of the necessary evidence.

12.2. The Buyer shall not be entitled to claim any cost, loss, expense, or damages from the
Seller, acting as a trader, which could have been prevented by the Buyer’s compliance
with clause 12.1, and the Seller shall be entitled to set off any such cost, loss, expense,
or damages against any liability to the Buyer.

12.3. Any dispute as to the quantity delivered must be noted at the time of delivery on the
bunker delivery receipt or in a letter of protest. Any claim as to short delivery shall be
presented by the Buyer immediately upon completion of delivery, failing which any such
claim shall be deemed to be waived and absolutely barred.

12.4. In the event that the Buyer has made a valid claim regarding the quality of the product,
which cannot be mitigated in accordance with Clause 12.1, the Seller, acting as a trader,
shall have the option to debunker the product and perform redelivery of the on-spec
product in accordance with the terms of the Contract.

12.5. To the extent that the Buyer’s test report evidence that the components detected are
within the allowed tolerances in respect of reproducibility or repeatability as set out in
ISO 4259, the Product shall be deemed to be compliant, and the Buyer cannot require
further testing of the Product.

12.6. Any claim against the Seller, acting as a trader, arising out of or in connection with a
Contract shall be brought before the relevant court or arbitral tribunal in accordance
with clause 19 within three (3) months of the date of delivery of the Marine Fuel, failing
which any such claim shall be forever waived and time-barred.

12.7. The Buyer’s submission of any claim does not relieve him from his obligations to make
full payments as required under Clause 11 and the Buyer shall not be entitled to set off
any claim from payment.

13.1. Risk in the Marine Fuel, including loss, damage, deterioration, evaporation, or any other
condition or incidents related thereto shall pass to the Buyer as the Marine Fuel pass the
fixed bunker connections on the delivering vessel or truck. The Buyer warrants that
representatives from the Vessel shall be responsible for ensuring that the Products are
received in a safe way.

13.2. Title to the delivered Marine Fuel shall remain vested in the Seller until payment of the
Price and any other amounts due in connection with the delivery of the Marine Fuel.
Such title shall pass to the Buyer after the Price has been received by the Seller under
the relevant Contract.

13.3. In case of breach of these Terms and Conditions, the Seller is entitled to take back the
Marine Fuel without prior judicial intervention and without prejudice to all other rights
or remedies available to the Seller.

13.4. The risk in the Marine Fuel shall be transferred successively from the Seller to the Buyer,
as the Marine Fuel passes through the fixed receiving connector in the Vessel.

14.1. The Seller shall not be liable for any loss, damage, or demurrage howsoever arising
and/or for any breach, delay, or non-performance of the Contract to the extent such is
caused:
a. by any governmental act or compliance with any order, request, or control of any
governmental authority or person purporting to act thereof whether or not such order or
request is later determined to be invalid (including compliance with or implementation of
any order, request, plan, or program of any authority created by governments); and/or
b. the interruption, unavailability, or inadequacy of Marine Fuel, or any constituent
thereof, or any facility of production, manufacture, storage, transportation, distribution,
or delivery, because of wars, hostilities, public disorders, acts of enemies, sabotage,
strikes, lockouts, labour or employment difficulties, fires, acts of God, epidemics,
accidents, breakdowns, or any other cause whatsoever which is not within the control of
the Seller including, but not limited to, the failure, cessation, termination, or curtailment
in whole or in part of any of the existing or contemplated sources of supply of the Seller of Marine Fuel, or the crude oil or petroleum products from which such Marine Fuel is derived.

14.2. The Seller shall not be required to remove any such cause or replace the affected source
of supply or facility, and, in the event of an actual or anticipated shortage of supply that
directly or indirectly prevents the Seller from fulfilling the requirements of its customers,
including its affiliated companies and the Buyer, the Seller may allocate available
quantities of Marine Fuel to its customers and/or the Buyer in its absolute discretion.

14.3. In the event that any governmental authority imposes any form of price control,
rationing, allocation, or other emergency measures on the supply of Marine Fuel at the
place of the Delivery Port, then the Seller has the right to suspend delivery of any Marine
Fuel under the Contract for such periods as the Seller may determine are required to
resolve uncertainties raised by such governmental actions, alternatively to cancel such
delivery and/or terminate the Contract. In the event of such termination of the Contract,
the Seller shall be relieved of its obligations to perform hereunder.

14.4. The Buyer shall have no right of cancellation of the Contract due to Force Majeure as
stated in clause 14.1.

15.1. The following circumstances shall be considered events of default by the Buyer, giving
the Seller, Meck Petroleum, the right to promptly terminate any Contract for the sale of
Marine Fuel by providing written notice to the Buyer. Additionally, Meck Petroleum may
seek damages from the Buyer in such instances:
a. Failure by the Buyer to fulfill any obligations specified within the Contract.
b. Seizure or legal actions against the Buyer’s assets, including, but not limited to, the
Vessel.
c. The Buyer’s declaration of insolvency, in accordance with the applicable laws of its
place of incorporation or establishment, or the appointment of a liquidator, receiver,
or judicial manager, or the initiation of any arrangement or composition with its
creditors.
d. The occurrence of liquidation, bankruptcy, or any other substantial changes in the
financial or legal status of the Buyer’s parent company, sister companies, or affiliated
entities, as determined solely by Meck Petroleum, in a manner that negatively impacts
the Buyer’s financial standing.
e. Any other situations, at the sole discretion of Meck Petroleum, which are deemed to
have an adverse effect on the financial position of the Buyer.

15.2. In the event of any of the above-mentioned defaults, all amounts owed by the Buyer
shall immediately become due and payable. Furthermore, without limiting any other
available remedies, Meck Petroleum shall also have the right to:
a. Terminate any outstanding stems or withhold future deliveries.
b. Store the Marine Fuel, either in full or in part, on behalf of the Buyer, at the Buyer’s
expense and risk.

16.1. To the extent permitted by Law, the Seller shall under no circumstances regardless of
cause be liable for any consequential loss or damage whatsoever, whether direct or
indirect and whether or not foreseeable at the time of the contract, that may be suffered
by the Buyer or the Vessel, including but not limited to:
a. any loss of hire or freight and/or loss of income or profit;
b. any delay, detention, or demurrage;
c. any indirect, special, or consequential losses and/or damages, including but not
limited to damages arising from the exercise of the Seller’s rights to suspend and/or to
withhold and/or to terminate delivery of the Marine Fuel;
d. any damages or losses as a result of any acts or omissions of the Seller’s agents and/or
subcontractors, including but not limited to those transporting the Marine Fuel and/or
fuelling agents.

16.2. Notwithstanding the foregoing in the event that the Seller is found to be liable to the
Buyer, the Seller’s liability for any losses or damages that may be suffered by the Buyer
or the Vessel or any third party whatsoever, howsoever caused and including due to the
negligence of the Seller, its servants, sub-contractors, or agents and whether based in
tort or contract, shall be limited to the Price of the Marine Fuel as set out in the Seller’s
invoice issued pursuant to the Contract.

16.3. Any liability for damage to the receiving Vessel shall be limited to the documented cost
of engine repairs and in any event be reduced by 20 percent of the invoice value of spare
parts for each year or fraction thereof in which the replaced part has been in use.

16.4. Any damage caused by contact or collision between the supply barge and the Vessel, or
any other marine incident occurring in connection with the delivery shall be dealt with
by the Buyer directly with the owners of the supply barge or the relevant third party.
The Seller shall not be held liable for any such damages, and the Buyer shall indemnify
the Seller against any claims made against the Seller arising out of such an incident.

17.1. The Buyer shall defend, indemnify and hold the Seller harmless with respect to any and
all liability, loss, claims, expenses, or damage the Seller may suffer or incur by reason of,
or in any way connected with, the acts, omissions, fault, or default of the Buyer or its
agents or its representatives in the purchase, receipt, use, storage, handling, or
transportation of the Marine Fuel under the Contract.

17.2. The Buyer undertakes to indemnify the Seller against any claims, losses, or costs of
whatever kind related to the Contract instituted by third parties against the Seller to the
extent such claims exceed the Seller’s liability towards the Buyer as set out in clause
16.1.

18.1. Where Marine Fuel is supplied to a Vessel, in addition to any other security, the Contract
is entered into and Marine Fuel is supplied upon the faith and credit of the Vessel. It is
agreed and acknowledged that a maritime lien over the Vessel is thereby created for the
Price of the Marine Fuel supplied and that the Seller in agreeing to deliver Marine Fuel
to the Vessel does so relying upon the faith and credit of the Vessel.

18.2. The Buyer agrees and warrants that a lien over the Vessel is thereby created for the Price
of the Products supplied and that the Seller in agreeing to deliver the Marine Fuel to the
Vessel does so relying upon the faith and credit of the Vessel.

18.3. The Buyer, if not the owner of the Vessel, hereby expressly warrants that he has the
authority of the owner to pledge the Vessel’s credit as aforesaid and that he has given
clear notice of the provisions of this clause to the owner. The laws of the United States,
including but not limited to the Commercial Instruments and Maritime Lien Act, shall
always apply with respect to the existence of a maritime lien, regardless of the country
in which Seller takes legal action unless the laws of that country do not recognize the US
law lien, in which case the Seller shall be entitled, at Seller’s election, to rely on the law
of the flag, the law of the place of supply, or the law of the country in which the action
is brought.

18.4. The Seller is entitled to rely on any provision of law of the flag state of the Vessel, the
place of delivery or where the Vessel is located granting the Seller maritime lien in the
Vessel and/or providing for the right to arrest the Vessel. Nothing in these terms or the
Confirmation shall be construed to limit the rights or legal remedies that the Seller may
have against the Vessel or the Buyer in any jurisdiction. The Seller shall not be bound by
any attempt by any person to restrict, limit or prohibit its lien attached to the Vessel.

18.5. ‘No-Lien’ stamps or remarks in any form or wording on the BDN or in any other
document, letter, e-mail or similar received from owners shall be invalid and of no effect, and shall in no way impair the Seller’s lien or discharge the Vessel’s responsibility for debts under the Contract. If for whatever reason the Seller should not be able to exercise a maritime lien on the Vessel, the Seller shall subsequently have a contractual lien on the Vessel for all sums payable to the Seller under Terms and Conditions.

19.1. The Contract, these Terms and Conditions, and all claims and disputes arising under or
in connection therewith shall be governed by the general maritime law of the United
States of America. If there are any gaps in the general maritime law of the United States
or if the general maritime law of the United States does not address a disputed issue,
the law of the State of New York shall apply. The 1980 United Nations Convention on
Contracts for the International Sale of Goods (CISG) shall not apply.

19.2. Any dispute arising out of or in connection with the Contract shall be referred to
arbitration in London in accordance with the Arbitration Act 1996 or any statutory
modification or re-enactment thereof save to the extent necessary to give effect to the
provisions of this Clause.

19.3. The arbitration shall be conducted in accordance with the London Maritime Arbitrators
Association (LMAA) Terms current at the time when the arbitration proceedings are
commenced.

19.4. In cases where the claim or any counterclaim does not exceed the sum of USD 2,000,000
(or such other sum as the parties may agree) the arbitration shall be referred to a sole
arbitrator. In all other cases, the reference shall be to three arbitrators. A Party wishing
to refer a dispute to arbitration shall appoint its arbitrator and send notice of such
appointment in writing to the other Party requiring the other Party to appoint its own
arbitrator within fourteen (14) calendar days of that notice and stating that it will
appoint its arbitrator as sole arbitrator unless the other Party appoints its own arbitrator
and gives notice that it has done so within the fourteen (14) days specified. If the other
Party does not appoint its own arbitrator and give notice that it has done so within the
fourteen (14) days specified, the Party referring a dispute to arbitration may, without
the requirement of any further prior notice to the other Party, appoint its arbitrator as
sole arbitrator and shall advise the other Party accordingly. The award of the sole
arbitrator shall be binding on both Parties as if the arbitrator had been appointed by
agreement.

19.5. Nothing herein shall prevent the Parties from agreeing in writing to vary these provisions
to provide for the appointment of a sole arbitrator.

19.6. Where two or more claims have been submitted separately to arbitration and the claims
have a question of law or fact in common and arise out of the same events or
circumstances, the Seller has the right to consolidate the disputes under the same
proceedings.

19.7. Notwithstanding the provisions of clauses 19.2 to 19.6 the Seller shall be entitled to
commence proceedings in a court of law of any country, including but not limited to any
jurisdiction where the Vessel other assets of the Purchaser (which includes any Agent)
may be found and shall be entitled to issue proceedings in such courts to obtain security
or interlocutory remedies in support of arbitration proceedings or where arbitration
proceedings have not yet been commenced for substantive remedies.

19.8. the Seller shall be entitled to commence proceedings in a court of law of any country,
including but not limited to any jurisdiction where the Vessel other assets of the Buyer
or Agent may be found and shall be entitled to issue proceedings in such courts to obtain
security or interlocutory remedies in support of arbitration proceedings or where
arbitration proceedings have not yet been commenced for substantive remedies.

20.1. For deliveries within Singapore, the Singapore Standard SS 600: 2008 Code of Practice
for Bunkering and any subsequent amendments thereto (the “Code”) is deemed to be
incorporated by reference into all Contracts. In the event of any inconsistency between
the Terms and Conditions and the Code in any respect, these Terms and Conditions shall
prevail.

20.2. If any part of the Contract is declared invalid, it shall not affect the validity of the
remainder of the Contract or any part thereof.

20.3. The headings of each section herein are descriptive only and are provided for
organizational purposes.