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The publication provides guidance mainly on legal aspects. These charterparty forms are widely used in the market by owners and charterers both within and outside the Shell Group. This discussion of the wording and interpretation of the charterparty clauses will be of invaluable assistance to owners and charterers who are fixing tankers on these forms.

PREFACE

INTRODUCTION

1. Description and condition of vessel / safety management: clause

Changes in regulations: 2003 (b) (c) and (g), ShellLNGTime (c) (d) and (j) (first sentence)

and ShellLNGTime clause 4(d)

Changes in ownership (etc.): 2003 (i), ShellLNGTime (l)

Safety management: 2003 (j) to (l), ShellLNGTime (m) to (o)

SIRE inspections: 2003 (m) / ShellLNGTime (p)

"And throughout the charter period"

2. Shipboard personnel and their duties: clause 2

3. Duty to maintain: clause 3

4. Period and trading limits (and safe places): clause 4 (and ShellLNGTime clause 7)

5. Laydays / cancelling: clause 5 / ShellLNGTime clause 7

6. Owners to provide: clause 6, ShellLNGTime clause 8

7. Charterers to provide: clause 7, ShellLNGTime clause 9 and clause 5 lines 158-161

8. Rate of hire ­ clause 8 (2003), ShellLNGTime clause 10

9. Payment of hire ­ clause 9 (2003), ShellLNGTime clause 11

10. Space available to charterers: clause 10, ShellLNGTime clause 12

11. Tonnage certificate: 2003 clause 11

12. Instructions and logs: clause 12, ShellLNGTime clause 13

13. Bills of lading: clause 13, ShellLNGTime clause 14

14. Conduct of vessel's personnel: clause 14, ShellLNGTime clause 15

15. Bunkers at delivery and redelivery: clause 15, ShellLNGTime clause 5 lines 144-157

and 162 to 165

16. Stevedores, pilots, tugs: clause 16, ShellLNGTime clause 17

17. Supernumeraries: clause 17, ShellLNGTime clause 18

18. Sub-letting/assignment/novation: clause 18, ShellLNGTime clause 19

19. Final voyage: clause 19, ShellLNGTime clause 20

20. Loss of vessel: clause 20, ShellLNGTime clause 21

21. Off-hire: clause 21, ShellLNGTime clause 22, and the treatment of boil-off under ShellLNGTime

­ Boil-off under ShellLNGTime

22. Periodical drydocking: clause 22, ShellLNGTime clause 24

23. Ship inspection: clause 23, ShellLNGTime clause 25

24. Detailed description and performance: clause 24, ShellLNGTime clause 26

("Key Vessel Performance Criteria")

25. Salvage: clause 25, ShellLNGTime clause 27

26. Lien: clause 26, ShellLNGTime clause 28

27. Exceptions: clause 27, ShellLNGTime clause 29

28. Injurious cargoes: clause 28, ShellLNGTime clause 30

29. Grade of bunkers: clause 29, ShellLNGTime clause 6

30. Disbursements: clause 30, ShellLNGTime clause 31

31. Laying-up: clause 31, ShellLNGTime clause 32

32. Requisition: clause 32, ShellLNGTime clause 33

33. Outbreak of war: clause 33, ShellLNGTime clause 34

34. Additional war expenses: clause 34, ShellLNGTime clause 35

35. War risks: clause 35, ShellLNGTime clause 36

36. Both to blame collision clause: clause 36, ShellLNGTime clause 37

37. New Jason clause: clause 37, ShellLNGTime clause 38

38. Clause Paramount: clause 38, ShellLNGTime clause 39

39. TOVALOP: replaced by "Insurance / ITOPF", 2003 clause 39, ShellLNGTime clause 40

40. Export restrictions: clause 40, ShellLNGTime clause 41

New clauses in 2003 form

41. Business principles, ShellLNGTime Clause 42

42. Drugs and alcohol, ShellLNGTime Clause 43

43. Oil major acceptability

44. Pollution and emergency response

45. ISPS Code / US MTSA 2002

Law, Litigation / Arbitration, etc.

46. Law and litigation: 1984 clause 41, 2003 clause 46, ShellLNGTime clause 46

47. Confidentiality: 2003 clause 47, ShellLNGTime clause 47

48. Construction: 1984 clause 42, 2003 clause 48, ShellLNGTime clause 48

New clauses in ShellLNGTime

49. Notices

50. Definitions

51. Additional clauses 1

52. ShellLNGTime clause 16: LNG retention / supply for operational purposes

53. ShellLNGTime clause 23: Ship to ship transfers

Appendices

I. Shelltime 4 1984

II. Shelltime 4 2003

III. ShellLNGTime 1

INTERTANKO is the International Association of Independent Tanker Owners. INTERTANKO has been the voice of independent tanker owners since 1970, ensuring that the liquid energy that keeps the world turning is shipped safely, responsibly and competitively.

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