CITGO INTERNATIONAL SUPPLY COMPANY CLAUSES


STYLE:    Citgo International Supply Company or Citgo Petroleum
Corporation or Citgo Venuezuela Supply Company  (revised 5/90)


CHARTER PARTY:    Asba Tank

1.   REVISED TOVALOP CLAUSE
     IT IS UNDERSTOOD AND AGREED THAT THE TOVALOP CHARTER PARTY
     CLAUSE 1987, AS PER COPY ATTACHED HERETO, IS DEEMED
     INCORPORATED IN THIS CHARTER PARTY.

2.   YORK/ANTWERP
     YORK/ANTWERP RULES,  1974,  AS AMENDED, SHALL APPLY FOR
     ADJUSTMENT OF GENERAL AVERAGE.

3.   U. S. COAST GUARD COMPLIANCE
     VESSEL TO COMPLY WITH PROVISIONS OF THE U.S. COAST GUARD
     REGULATIONS FOR FEDERAL WATER CONTROL POLLUTION ACT CFR33,
     SECTION 154, 155, 156,  AS AMENDED, EFFECTIVE JULY 1, 1974,
     AND ANY DELAY TO VESSEL AS A RESULT OF FAILURE TO COMPLY
     TO BE FOR OWNER'S ACCOUNT.

4.   FINANCIAL RESPONSIBILITY
     OWNER WARRANTS TO HAVE SECURED AND CARRY ABOARD THE VESSEL A
     U.S. FEDERAL MARITIME COMMISSION'S CERTIFICATE OF FINANCIAL
     RESPONSIBILITY AS REQUIRED UNDER THE U.S.  WATER QUALITY
     IMPROVEMENT ACT OF 1970 (EFFECTIVE 0001 APRIL 3, 1971).  IN
     NO CASE SHALL CHARTERERS BE LIABLE FOR DEMURRAGE AS A RESULT
     OF OWNER'S FAILURE TO OBTAIN THE AFOREMENTIONED CERTIFICATE.

5.   PUMPING
     OWNER WARRANTS THAT VESSEL WILL DISCHARGE THE ENTIRE CARGO
     WITHIN 24 HOURS OR MAINTAIN 100 PSI AT THE VESSELS MAINFOLD
     PROVIDING SHORE FACILITIES CAN ACCEPT.  ANY DELAYS DUE TO
     VESSELS INABILITY TO DISCHARGE WITHIN 24 HOURS OR MAINTAIN 100
     PSI AT THE VESSELS MANIFOLD WILL BE FOR OWNERS ACCOUNT AND
     WILL NOT COUNT AS LAYTIME OR DEMURRAGE. OWNER WILL PROVIDE A
     COPY OF THE VESSELS PUMPING RECORD COUNTERSIGNED BY A TERMINAL
     REPRESENTATIVE WITH THE DEMURRAGE CLAIM.

6.   BUNKER INSPECTION
     OWNER TO ALLOW CHARTERERS INDEPENDENT INSPECTORS TO SURVEY
     BUNKERS ON VESSELS LOADING AND DISCHARGING.

7.   CARGO RETENTION
     IN THE EVENT THAT ANY CARGO REMAINS ON BOARD UPON COMPLETION
     OF DISCHARGE,  CHARTERER SHALL HAVE THE RIGHT TO DEDUCT FROM
     FREIGHT AN AMOUNT EQUAL TO THE FOB PORT OF LOADING VALUE OF
     SUCH CARGO PLUS FREIGHT DUE WITH RESPECT THERETO,  PROVIDED
     THAT THE VOLUME OF CARGO REMAINING ON BOARD IS PUMPABLE BY
     VESSELS STRIPPING SYSTEM AS DETERMINED BY AN INDEPENDENT
     SURVEYOR.  ANY ACTION OR LACK OF ACTION IN ACCORDANCE WITH THE
     PROVISION SHALL BE WITHOUT PREJUDICE TO ANY RIGHTS OR
     OBLIGATIONS OF THE PARTIES.

     OWNER AGREES TO SHARE EQUALLY WITH CHARTERER ALL EXPENSES
     INCURRED WITH REGARD TO USING AN INDEPENDENT SURVEYOR.

8.   INERT GAS SYSTEM
     OWNER WARRANTS THAT VESSEL HAS A WORKING INERT GAS SYSTEM AND
     OFFICERS AND CREW ARE EXPERIENCED IN THE OPERATION OF THE
     SYSTEM.  OWNERS AGREE TO DEPRESSURIZE THE TANKS OF INERT GAS-
     EQUIPPED VESSEL FOR ULLAGE MEASUREMENTS BY DESIGNATED
     INSPECTORS.

9.   CRUDE OIL WASHING  (REVISED 5/90)
     IF REQUESTED IN CHARTERER'S VOYAGE INSTRUCTIONS, OWNER AGREES
     TO CONDUCT CRUDE OIL WASHING OF CARGO TANKS AT DISCHARGE
     PORT(S) SIMULTANEOUSLY WITH CARGO DISCHARGE OPERATIONS.  IN
     ACCORDANCE WITH THE PROCEDURES OF ICS/OCIMF  "GUIDELINES FOR
     TANKWASHING WITH CRUDE OIL"   IN, THE ABSENCE OF EXPRESS
     CONTRARY INSTRUCTIONS OF THE CHARTERER.  ANY ADDITIONAL TIME
     CONSUMED AS A RESULT OF CRUDE OIL WASHING UP TO A MAXIMUM OF
     EIGHT(8) HOURS OR PRO RATA ON THE BASIS OF THE NUMBER OF TANKS
     CLEANED TO THE NUMBER OF TANKS LOADED SHALL CONSTITUTE USED
     LAYTIME.  OWNER AGREES TO COMPLY WITH APPLICABLE PORT AND
     TERMINAL REGULATIONS AND IF NECESSARY TO SUBMIT ANY ADVANCE
     INFORMATION OR TECHNICAL DATA THAT MAY BE REQUIRED BY LOCAL
     AUTHORITIES RELATIVE TO C.O.W.  OPERATIONS.  OWNER WILL
     INSTRUCT DISPORT AGENTS TO RECORD COW DATE/TIMES ON STATEMENT
     OF FACTS.

     IF AFTER CHARTERER REQUESTS C.O.W, THE VESSEL FAILS TO C.O.W.
     ANY MEASURABLE CARGO RETAINED ON BOARD SHALL BE DEEMED LIQUID
     AND PUMPABLE, AND CHARTERER SHALL HAVE THE RIGHT TO DEDUCT
     FROM FREIGHT AN AMOUNT EQUAL TO THE FOB PORT OF LOADING VALUE
     OF SUCH CARGO PLUS FREIGHT DUE WITH RESPECT THERETO.

10.  SHIP-TO-SHIP TRANSFER CLAUSE
     CHARTERERS SHALL HAVE THE OPTION TO LOAD OR DISCHARGE THE
     VESSEL VIA SHIP-TO-SHIP TRANSFER, WEATHER PERMITTING AND
     SUBJECT TO MASTERS APPROVAL WHICH IS NOT TO BE UNREASONABLY
     WITHHELD,  AT ANCHOR, UNDERWAY OR ADRIFT.  CHARTERERS WILL
     PROVIDE ADEQUATE FENDERS, HOSES AND EQUIPMENT NECESSARY TO
     PERFORM THE LIGHTERING OPERATION. OWNERS AGREE TO ALLOW
     CHARTERERS SUPERVISORY PERSONNEL ON BOARD, INCLUDING MOORING
     MASTER, TO ASSIST IN THE PERFORMANCE OF THE LIGHTERING
     OPERATION.

     ALL TIME CONSUMED FROM VESSELS ARRIVAL AT THE TRANSFER
     LOCATION UNTIL CARGO HOSES ARE DISCONNECTED SHALL COUNT AS
     USED LAYTIME AS CALCULATED IN PART II EXCEPT THOSE DELAYS
     CAUSED BY WEATHER CONDITIONS WHICH SHALL COUNT AS ONE HALF
     LAYTIME OR IF ON DEMURRAGE AS ON HALF DEMURRAGE.  THE
     LIGHTERING LOCATION SHALL NOT COUNT AS AN ADDITIONAL DISCHARGE
     PORT OR DISCHARGE BERTH WHEN COMPUTING FREIGHT BASED ON
     PUBLISHED WORLDSCALE RATES.

11.  IN-TRANSIT LOSS CLAUSE
     OWNER SHALL BE LIABLE FOR IN-TRANSIT LOSS OF CARGO ABOVE .25%
     AND CHARTERER SHALL HAVE THE RIGHT TO DEDUCT FROM FREIGHT AN
     AMOUNT EQUAL TO THE F.O.B.  PORT OF LOADING VALUE OF SUCH LOST
     CARGO PLUS FREIGHT DUE WITH RESPECT THERETO.   IN-TRANSIT LOSS
     IS DEFINED AS THE DIFFERENCE BETWEEN THE A.P.I. TOTAL
     CALCULATED SHIP VOLUMES AFTER LOADING AT THE LOADING PORT(S)
     AND BEFORE UNLOADING AT THE DISCHARGING PORT(S).  CARGO
     QUANTITIES WILL BE DETERMINED BY INDEPENDENT INSPECTORS
     ACCOMPANIED BY SHIP PERSONAL AND QUANTITIES SO DETERMINED
     SHALL BE FINAL.  OWNER SHALL HAVE THE BURDEN OF PROVING,  BY
     PREPONDERANCE OF EVIDENCE, ANY OTHERWISE AVAILABLE DEFENSE
     RESPECTING A LOSS ABOVE .25%.  LIQUID PUMPABLE CARGO REMAINING
     ON BOARD AFTER COMPLETION OF DISCHARGE SHALL NOT BE DEFINED
     AS AN IN-TRANSIT LOSS.  ANY ACTION OR LACK OF ACTION IN
     ACCORDANCE WITH THIS PROVISION SHALL BE WITHOUT PREJUDICE TO
     ANY RIGHTS OR OBLIGATIONS OF THE PARTIES.

12.  JURISDICTION CLAUSE
     THE ARBITRATION CLAUSE OF THIS CHARTER PARTY NOTWITHSTANDING,
     DISPUTES CONCERNING NON-DELIVERY OR DAMAGE TO CARGO MAY,  AT
     CHARTERER'S OPTION, BE SUBMITTED FOR ADJUDICATION TO THE
     UNITED STATES DISTRICT COURT FOR THE SOUTHERN DISTRICT OF NEW
     YORK AND BOTH PARTIES HEREBY SUBMIT TO THE JURISDICITON OF
     THAT COURT FOR SUCH PURPOSES.

13.  CITGO BILL OF LADING AND INDEMNITY CLAUSE (NEW 5/90)
     THE DISCHARGE PORT(S) SHOWN IN THE ORIGINAL BILL OF LADING
     SHALL NOT CONSTITUTE A DECLARATION OF DISCHARGE PORT(S) AND
     CHARTERERS SHALL HAVE THE RIGHT TO ORDER VESSEL TO ANY PORT(S)
     WITHIN THE TERMS OF THIS CHARTER PARTY.  CHARTERERS HEREBY
     INDEMNIFY OWNERS AGAINST CLAIMS BROUGHT BY HOLDERS OF ORIGINAL
     BILLS OF LADING AGAINST OWNERS BY REASON OF CHANGE OF
     DESTINATION.

     SHOULD THE BILL OF LADING NOT ARRIVE AT THE DISPORT IN TIME,
     OWNERS AGREE TO RELEASE THE ENTIRE CARGO WITHOUT PRESENTATION
     OF THE ORIGINAL BILLS OF LADING AT A FACILITY OR FACILITIES
     DESIGNATED BY CHARTERER IN VOYAGE ORDERS WITHOUT PRESENTATION
     OF ORIGINAL BILLS OF LADING CHARTERER AGREES TO ISSUE A TELEX
     "LETTER OF INDEMNITY" IN THE FORM SET FORTH BELOW IF SO
     REQUESTED.

     IN THE EVENT THAT AN ORIGINAL BILL OF LADING IS NOT AVAILABLE
     AT DISCHARGE PORT ON THE VESSEL'S ARRIVAL,  OWNER WILL ACCEPT
     THE FOLLOWING INDEMNITY FROM CHARTERERS:


     TO OWNERS, MASTER AND AGENTS OF M/T________________________
     BULK CARGO DESCRIBED AS____________________________________
     WAS SHIPPED ON THE ABOVE VESSEL BY_________________________
     AND CONSIGNED TO ___________________________FOR DELIVERY PER
     CHARTERES INSTRUCTIONS THE RELEVANT BILL(S) OF LADING FOR
     WHICH HAVE NOT YET ARRIVED.

     IN CONSIDERATION OF OWNER DELIVERING THE CARGO IN ACCORDANCE
     WITH___________________CHARTERER'S INSTRUCTIONS UNDER SUCH
     CIRCUMSTANCES, CHARTERER AGREES AS FOLLOWS:


     1.   TO INDEMNIFY OWNER AND HOLD OWNER HARMLESS IN RESPECT OF
          ANY LIABILITY,  LOSS OR CLAIM OF WHATSOEVER NATURE WHICH
          OWNER MAY SUSTAIN BY REASON OF DELIVERING THE CARGO IN
          ACCORDANCE WITH CHARTERER'S REQUEST.

     2.   PROVIDED PROMPT NOTICE IS DELIVERED TO CHARTERER OF ANY
          SUCH CLAIM, LOSS OR LIABILITY WITH FULL PARTICULARS AND
          SUPPORTING PAPERS  (WITH ANY REQUESTED ASSIGNMENT
          OF CLAIM)  TO PAY OWNER ON DEMAND THE AMOUNT OF ANY
          LOSS OR DAMAGE WHICH THE MASTER AND/OR AGENTS OF THE
          VESSEL OR ANY OTHER OF YOUR SERVANTS OR AGENTS
          WHATSOEVER MAY INCUR AS A RESULT OF DELIVERING THE
          CARGO AS AFORESAID.

     3.   IN THE EVENT OF ANY PROCEEDINGS BEING COMMENCED AGAINST
          OWNER OR ANY OF ITS SERVANTS OR AGENTS IN CONNECTION WITH
          THE DELIVERY OF THE CARGO AS AFORESAID, TO UNDERTAKE ON
          OWNER'S BEHALF TO DEFEND THE SAME.

     4.   IF THE VESSEL OR ANY OTHER VESSEL OR PROPERTY BELONGING
          TO OWNER SHOULD BE ARRESTED OR DETAINED AS A RESULT
          DIRECTLY RELATED TO THIS DELIVERY WITHOUT BILL OF LADING
          PER OUR REQUEST OR IF THE ARREST OR DETENTION THEREOF
          SHOULD BE THREATENED, TO PROVIDE ON DEMAND SUCH BAIL OR
          OTHER SECURTIY AS MAY BE REQUIRED TO PREVENT SUCH ARREST
          OR DETENTION OR TO SECURE THE RELEASE OF SUCH VESSEL OR
          PROPERTY AND TO INDEMNIFY OWNER IN RESPECT OF ANY LOSS,
          DAMAGE OR EXPENSES CAUSED BY SUCH ARREST OR DETENTION
          WHETHER OR NOT THE SAME MAY BE JUSTIFIED.

     5.   TO PRODUCE AND DELIVER TO OWNER ONE ORIGINAL BILL OF
          LADING FOR THE ABOVE CARGO DULY ENDORSED, AS SOON AS THE
          DOCUMENT SHALL BE AVAILABLE, AND IF THE DELIVERY AS
          AFORESAID CORRESPONDS TO THE TERMS OF THE BILL OF LADING,
          THIS INDEMNITY SHALL BE VOID.

     6.   THIS INDEMNITY SHALL BE CONSTRUED IN ACCORDANCE WITH U.S.
          LAW AND EACH AND EVERY PERSON LIABLE UNDER THIS INDEMNITY
          SHALL AT YOUR REQUEST SUBMIT TO THE JURISDICTION OF THE
          UNITED STATES DISTRICT COURT IN NEW YORK.

     7.   ANY AND ALL AMOUNTS PAYABLE UNDER THIS UNDERTAKING TO BE
          IN UNITED STATES DOLLARS.

14.  LIGHTERING (REVISED 5/90)
     IF LIGHTERING IS REQUIRED AT A CUSTOMARY LIGHTERING ANCHORAGE
     FOR DESIGNATED PORT, TIME USED IN LIGHTERING SHALL COUNT AS
     LAYTIME.  LIGHTERING ANCHORAGE SHALL NOT BE CONSIDERED AS A
     SECOND DISCHARGE PORT OR SECOND DISCHARGE BERTH, AND RUNNING
     TIME FROM SUCH ANCHORAGE TO BERTH SHALL NOT COUNT AS LAYTIME
     OR DEMURRAGE,  IF LAYTIME HAS EXPIRED.

15.  LAYTIME
     IF FOR ANY REASON LAYTIME HAS EXPIRED, CHARTERER TO BE ALLOWED
     THE BENEFITS OF CLAUSE 6, 7, AND 8, PART 2 AT EACH PORT OF
     LOADING OR DISCHARGE BEFORE DEMURRAGE SHALL BE INCURRED.

16.  WEATHER
     DELAYS DUE TO WEATHER CONDITIONS AND THEIR EFFECT ON THE SEA
     AT LOAD OR DISCHARGE PORTS IN BERTHING, LOADING, DISCHARGING
     OR LIGHTERING SHALL COUNT AS ONE HALF LAYTIME OR IF ON
     DEMURRAGE ONE HALF TIME ON DEMURRAGE.

17.  AGENCY CLAUSE
     OWNERS AGREE TO APPOINT AGENTS AS NOMINATED BY CHARTERERS AT
     LOAD AND DISCHARGE PORTS.

18.  BOARDING CLAUSE
     OWNER AGREES TO ALLOW CHARTERER'S REPRESENTATIVE(S) TO BOARD
     VESSEL AT LOAD AND/OR DISCHARGE PORTS TO OBSERVE CARGO
     LOADING/DISCHARGING OPERATION.

19.  CITGO SHORE RELEASE
     TIME SPENT WAITING VESSEL RELEASE BY SHORE AUTHORITIES AND/OR
     CARGO INSPECTORS AFTER DISCONNECTION OF HOSES IN EXCESS OF
     THREE HOURS SHALL COUNT AS USED LAYTIME OR DEMURRAGE IF
     VESSEL IS ON DEMURRAGE.

20.  LAYDAYS-NOTICE OF READINESS(NEW 5/90)
     IN THE EVENT THAT NOTICE OF READINESS IS GIVEN PRIOR TO
     COMMENCEMENT OF LAYDAYS AS PROVIDED FOR IN PART I ARTICLE B,
     LAYTIME SHALL NOT BEGIN UNTIL 0600 LOCAL TIME ON THE FIRST
     DAY OF LAYDAYS OR UPON VESSEL'S ARRIVAL IN BERTH WHICHEVER
     OCCURS FIRST.

21.  HOSES(NEW 5/90)
     OWNER AGREES TO CONNECT AND DISCONNECT HOSES IF SO REQUESTED
     BY CHARTERERS AT OWNERS RISK AND EXPENSE.

22.   CITGO DIVERSION CLAUSE(NEW 5/90)
      NOT WITHSTANDING ANYTHING ELSE TO THE CONTRARY IN THIS
      CHARTER PARTY AND NOT WITHSTANDING WHAT LOADING AND/OR
      DISCHARGE PORTS MAY HAVE BEEN NOMINATED AND BILL OF LADING
      ISSUED, CHARTERERS SHALL HAVE THE RIGHT TO CHANGE ITS
      NOMINATION OF LOADING AND /OR DISPORT IN ACCORDANCE WITH PART
      I C AND D OF THE CHARTER PARTY.  ANY EXTRA TIME AND EXPENSE
      INCURRED BY OWNERS IN COMPLYING WITH CHARTERERS INSTRUCTIONS
      SHALL BE FOR CHARTERERS ACCOUNT AND CALCULATED IN ACCORDANCE
      WITH PART II CLAUSE 4 OF THIS CHARTER.  FREIGHT TO BE BASED
      ON THE VOYAGE ACTUALLY PERFORMED.  CHARTERER SHALL HAVE THE
      RIGHT TO MAKE AS MANY CHANGES AS IT DEEMS NECESSARY.

23.   FLORIDA STRAIT TRANSIT CLAUSE(NEW 5/90)
      VESSEL, WHEN TRANSITING THE FLORIDA STRAITS AREA FROM KEY
      BICAYNE SOUTH TO THE DRY TORTUGAS SHALL ENDEAVER TO MAINTAIN
      A MINIMUM DISTANCE OF TEN (10) MILES OFF THE OUTER
      NAVIGATIONAL AIDS MARKING THE REEFS OFF THE FLORIDA COAST.
      IT IS UNDERSTOOD AND AGREED THAT THE FIXTURE RATE INCLUDES
      ALL COMPENSATION FOR VESSEL TRACK TAKEN.

24.   DRUG AND ALCHOHOL POLICY(NEW 5/90)
      OWNER WARRANTS THAT IT HAS A POLICY ON DRUG AND ALCOHOL ABUSE
      (POLICY) APPLICABLE TO THE VESSEL WHICH MEETS OR EXCEEDS THE
      STANDARDS IN THE OIL COMPANIES INTERNATIONAL MARINE FORUM
      GUIDELINES FOR CONTROL OF DRUGS AND ALCOHOL ONBOARD SHIP,
      DATED JANUARY 1990 (OCIMF).  OWNER FURTHER WARRANTS THAT THIS
      POLICY WILL REMAIN IN EFFECT DURING THE TERM OF THIS CHARTER
      AND THAT OWNER SHALL EXCERCISE DUE DILIGENCE TO ENSURE THAT
      THE POLICY IS COMPLIED WITH.

25.   P & I INSURANCE(NEW 5/90)
      OWNER WARRNATS THAT THEY HAVE IN PLACE COVER FOR OIL
      POLLUTION OF U.S. $700 MILLION WITH HIS P & I CLUB AND THAT
      THIS COVER WILL REMAIN  IN PLACE THROUGHOUT THE PERIOD OF
      THIS CHARTER.

      IF REQUESTED BY CHARTERER OWNER SHALL PROMPLTY FURNISH TO
      CHARTERER PROPER EVIDENCE OF SUCH P & I INSURANCE AND EXCESS
      INSURANCE IMMEDIATELY UPON REQUEST OR  AT ANY TIME DURING THE
      CHARTER TERM.

      THE ABOVE WARRANTY WHICH IS CONDITIONAL ON ITS TRUTH AND
      PERFORMANCE, SO THAT ITS BREACH ENTITLES CHARTERER, IN
      CHARTERERS OPTION TO TERMINATE THE CHARTER AND /OR RECOVER
      ANY DAMAGES ALLOWABLE BY LAW.

26.   EXCESS BERTH OCCUPANCY
      IF AFTER HOSES ARE DISCONNECTED VESSEL REMAINS AT BERTH
      SOLELY FOR SHIPS PURPOSES, OWNERS WILL BE RESPONSIBLE FOR
      ANY COSTS CHARGED TO CHARTERERS BY TERMINAL, SUPPLIER OR
      RECEIVERS.

      IF VESSEL REMAINS AT CHARTERERS OWNED FACILITIES FOR ITS OWN
      PURPOSES AND COSTS ARE INCURRED BY CHARTERER WHICH CAN BE
      DOCUMENTED AND SUPPORTED SOLELY DUE TO VESSEL REMAINING AT
      BERTH OWNER WILL BE RESPONSIBLE FOR ALL COSTS INCURRED.

27.   SHIFTING(REVISED 5/90)
      IF MORE THAN ONE BERTH AT LOADPORT(S) OR DISPORT(S) IS USED,
      SHIFTING EXPENSES TO BE FOR CHARTERERS ACCOUNT, EXCEPT THAT
      SHIFTING EXPENSES FROM THE ANCHORAGE TO FIRST BERTH WILL NOT
      BE FOR CHARTERERS ACCOUNT.

      DEBALLASTING TIME NEVER TO COUNT AS USED LAYTIME, EVEN IF
      VESSEL IS ALREADY ON DEMURRAGE.

28.   CITGO IMO/PTSR
      OWNER WARRANTS VESSEL IS IN FULL COMPLIANCE WITH IMO AND U.S.
      PORT AND TANKER SAFETY REGULATIONS AND ANY DELAYS DUE TO
      FAILURE OF THIS WARRANTY SHALL BE FOR THE SOLE ACCOUNT OF
      OWNER.

29.   VESSEL ELIGIBILITY
      OWNER WARRANTS THAT VESSEL IS IN ALL RESPECTS ELIGIBLE UNDER
      APPLICABLE LAWS AND REGULATINS FOR TRADING TO THE PORTS AND
      PLACES SPECIFIED IN PART I C & D.  VESSEL SHALL AT ALL TIMES
      HAVE ON BOARD ALL CERTIFICATES, RECORDS, & OTHER DOCUMENTS
      REQUIRED FOR SUCH SERVICE.

30.   LITIGATION/ARBITRATION
      NOTWITHSTANDING ANYTHING CONTAINED HEREIN TO THE CONTRARY
      SHOULD THE SUM CLAIMED BY EACH PARTY EXCLUDING INTEREST AND
      COST NOT EXCEED U.S. $50,000.00 (FIFTY THOUSAND UNITED STATES
      DOLLARS) THE DISPUTE IS TO BE GOVERNED BY THE "SHORTENED
      ARBITRATION PROCEDURE" OF THE SOCIETY OF MARITIME ARBITRATORS
      INC.  (S.M.A.) OF NEW YORK, AS DEFINED IN THE SOCIETY'S
      CURRENT RULES FOR SUCH PROCEDURE.

31.   LOOP CLAUSE
      OWNER WARRANTS THAT THE VESSEL IS IN COMPLIANCE WITH ALL
      PROVISIONS OF THE UNITED STATES DEEPWATER PORT ACT OF 1974.

      OWNER MUST CONTACT LOOP SCHEDULING SUPERINTENDENT TO MAKE
      CERTAIN VESSEL COMPLIES WITH ALL INSURANCE CERTIFICATION
      REQUIREMENTS OF U.S. DEEPWATER PORT ACT OF 1974.

      ANY VESSEL DELAYS ATRIBUTED TO OWNERS FAILURE TO COMPLY WITH
      LOOP REGULATIONS SHALL BE SOLELY FOR OWNERS ACCOUNT.

32.   ECUADORIAN CLAUSE
      OWNER TO PAY DUES AND OTHER CHARGES LEVIED ON VESSEL EVEN IF
      ASSESSED ON QUANTITY OF CARGO LOADED.  CHARTERERS TO PAY:
      1.  NON ECUADORIAN FLAG WAIVER FEE OF 3.5 WS PTS.
      2.  LIGHTHOUSE AND BUOY DUES (IF NOT ALREADY PAID FOR YEAR__)
      3.  PORT DUES (TAXES) ASSESSED ON CARGO LOADED
      4.  FREIGHT TAX AND INCOME TAX ON FREIGHT

      IN ANY EVENT OWNERS REQUIRED TO PAY ALL PORT DISBURSEMENTS,
      MAY THEN BILL CHARTERERS ITEMS SPECIFIED ABOVE FOR CHARTERERS
      ACCOUNT WITH FULL SUPPORTING DOCUMENTS IN THE USUAL MANNER.

33.   SULLOM VOE
      AS FROM THE DATE OF AGREEMENT TO AND FOR THE DURATION OF THIS
      CHARTER, OWNERS AND THEIR AGENTS SHALL OBSERVE CHARTERER'S
      INSTRUCTIONS REGARDING THE DISPOSAL OF BALLAST FROM THE
      VESSEL.  IF, BEFORE THE COMMENCEMENT OF LOADING AT SULLOM VOE
      TERMINAL,  CHARTERERS PRODUCE TO OWNERS EVIDENCE OF THE
      FAILURE OF THE VESSEL TO COMPLY WITH SUCH INSTRUCTIONS,
      CHARTERERS MAY BY NOTICE IN WRITING CANCEL THIS CHARTER
      WITHOUT THEREBY INCURRING ANY PENALTY.  CHARTERER WILL ACCEPT
      DEADFREIGHT INCURRED IN COMPLYING WITH CHARTERER'S
      INSTRUCITONS.

34.   FLOTTA TERMINAL
      VESSEL TO COMPLY WITH PORT REGULATIONS AT FLOTTA TERMINAL
      (SCAPA FLOW) ORKNEY ISLANDS WITH PARTICULAR ATTENTION TO THE
      FOLLOWING:

      A)  NOTHING, INCLUDING CLEAN BALLAST, CAN BE DISCHARGED
          OVERBOARD IN SCAPA FLOW HARBOR.
      B)  CLEAN BALLAST SHOULD BE LOCATED IN CARGO TANKS FOR
          EVENTUAL DISCHARGE TO SHORE TANK FACILITIES.
      ALTERNATIVELY, VESSEL MAY PUMP ASHORE CLEAN BALLAST FROM
        PERMANENT BALLAST TANKS.
      C)  ANY OIL SPILLS AND/OR LEAKAGE MUST BE IMMEDIATELY
        REPORTED TO THE HARBOR AUTHORITIES.
      D)  ALL BALLASTING/LOADING OPERATIONS WILL BE IMMEDIATELY
          SUSPENDED UNTIL THE CAUSE OF THE SPILL/LEAKAGE HAS BEEN
          DETERMINED AND RECTIFIED TO THE SATISFACTION OF THE
          MOORING MASTER AND THE HARBOR AUTHORITIES.
      E)  FORECASTLE FAIRLEADS MUST BE CAPABLE OF ACCEPTING CHAIN
          LINKS 2-5/8" DIAMETER, I.E., MINIMUM DIAMETER 12".



                        CITGO OPA REQUIREMENTS CLAUSE
                        =============================
     OWNER WARRANTS THAT THE VESSEL OWNER OR OPERATOR WILL HAVE, PRIOR TO
     FEBRUARY 18, 1993, SUBMITTED TO U.S. COAST GUARD FOR APPROVAL A
     RESPONSE PLAN FOR THE VESSEL (VRP) WHICH MEETS IN FULL THE
     REQUIRMENTS OF THE US OIL POLLUTION ACT OF 1990, THE GOVERNMENTAL
     REGULATIONS ISSUED THEREUNDER, THE U.S. COAST GUARD NAVIGATIONAL
     AND VESSEL INSPECTION CIRCULAR NO. 8-92 AND ANY RULE OR
     REGULATION IN SUBSTITUTION OF, OR SUPPLEMENTARY TO, SUCH CIRCULAR
     (COLLECTIVELY ''VRP REQUIREMENTS''), THAT THE VRP SHALL BE
     APPROVED, AND THE VESSEL OPERATED IN COMPLIANCE THEREWITH, WHEN
     AND AS REQUIRED BY THE VRP REQUIREMENTS AND THAT THE OWNER SHALL
     ENSURE THAT THE OWNER OR OPERATOR OF THE VESSEL AND THE VESSEL
     FULLY MEET ALL OTHER REQUIREMENTS OF OPA AND ANY GOVERNMENTAL
     REGULATIONS OR GUIDELINES ISSUED THEREUNDER.

     THIS CLAUSE DOES NOT IN ANY WAY LESSEN THE OVERALL EFFECT OR RELIEVE
     THE OWNER OF ANY STATE OBLIGATIONS IN RESPECT TO VESSEL RESPONSE
     PLANS OR OTHER POLLUTION REQUIREMENTS.















                   REVISED 1987 TOVALOP CLAUSE



OWNERS WARRANT THAT THE VESSEL IS A PARTICIPATING TANKER IN TOVALOP
AND WILL SO REMAIN DURING THIS CHARTER, PROVIDED HOWEVER THAT
NOTHING HEREIN SHALL PREVENT OWNERS, UPON PRIOR NOTICE TO
CHARTERERS, FROM WITHDRAWING FROM TOVALOP UNDER CLAUSES III (B) OR
X THEREOF, AND PROVIDED FURTHER THAT UPON ANY WITHDRAWAL UNDER
CLAUSE III (B) OR UNDER CLAUSE X, CHARTERERS SHALL HAVE THE OPTION
TO TERMINATE THIS CHARTER.

WHEN AN ESCAPE OR DISCHARGE OF OIL OCCURS FORM THE VESSEL AND
CAUSES OR THREATENS TO CAUSE POLLUTION DAMAGE, OR WHEN THERE IS THE
THREAT OF AN ESCAPE OR DISCHARGE OF OIL(I.E. A GRAVE AND IMMINENT
DANGER OF THE ESCAPE OR DISCHARGE OF OIL WHICH, IF IT OCCURRED,
WOULD CREATE A SERIOUS DANGER OF POLLUTION DAMAGE), THEN CHARTERERS
MAY, AT THEIR OPTION, OPON NOTICE OF OWNERS OR MASTER, UNDERTAKE
SUCH MEASURES AS ARE REASONABLY NECESSARY TO PREVENT OR MINIMIZE
SUCH DAMAGE OR TO REMOVE THE THREAT, UNLESS OWNERS PROMPTLY
UNDERTAKE THE SAME.  CHARTERERS SHALL KEEP OWNERS ADVISED OF THE
NATURE AND RESULT OF ANY SUCH MEASURES TAKEN BY THEM, AND IF TIMES
PERMITS, THE NATURE OF THE MEASURES INTENDED TO BE TAKEN BY THEM.
ANY OF THE AFOREMENTIONED MEASURES TAKEN BY CHARTERERS SHALL BE
DEEMED TAKEN ON OWNER'S AUTHORITY AND AS OWNER'S AGENT, AND SHALL
BE AT OWNER'S EXPENSE EXCEPT TO THE EXTENT THAT:

1)    ANY SUCH ESCAPE OR DISCHARGE OR THREAT WAS CAUSED OR
      CONTRUBUTED TO BY CHARTERERS, OR

2)    BY REASON OF THE EXCEPTIONS SET OUT IN ARTICLE III, PARAGRAPH
      2, OR THE 1969 INTERNATIONAL CONVENTION ON CIVIL LIABILITY
      FOR OIL POLLUTION DAMAGE, OWNERS ARE OR, HAD THE SAID
      CONVENTION APPLIED TO SUCH ESCAPE OR DISCHARGE OR TO THE
      THREAT, WOULD HAVE BEEN EXEMPT FROM LIABILITY FOR THE SAME,
      OR

3)    THE COST OF SUCH MEASURES TOGETHER WITH ALL OTHER
      LIABILITIES, COSTS AND EXPENSES OF OWNERS ARISING OUT OF OR
      IN CONNECTION WITH SUCH ESCAPE OR DISCHARGE OR THREAT REMOVAL
      EXCEEDS THE MAXIMUM LIABILITY APPLICABLE TO THE VESSEL UNDER
      TOVALOP AT THE TIME OF SUCH ESCAPE OR DISCHARGE OF THREAT,
      SAVE AND INSOFAR AS OWNERS SHALL BE ENTITLED TO RECOVER SUCH
      EXCESS UNDER EITHER THE 1971 INTERNATIONAL CONVENTION ON THE
      ESTABLISHMENT OF AN INTERNATIONAL FUND FOR COMPENSATION FOR
      OIL POLLUTION DAMAGE OR UNDER CRISTAL.





PROVIDED ALWAYS THAT IF OWNERS IN THEIR ABSOLUTE DISCRETION
CONSIDER SAID MEASURES SHOULD BE DISCONTINUED, OWNERS SHALL SO
NOTIFY CHARTERERS AND THEREAFTER CHARTERERS SHALL HAVE NO RIGHT TO
CONTINUE SAID MEASURES UNDER THE PROISIONS OF THIS CLAUSE AND ALL
FURTHER LIABILITY TO CHARTERERS UNDER THE CLAUSE SHALL THEREUPON
CEASE.

THE ABOVE PROVISIONS ARE NOT IN DEROGATION OF SUCH OTHER RIGHTS AS
CHARTERERS OR OWNERS MAY HAVE UNDER THE CHARTER OR MAY OTHERWISE
HAVE OR ACQUIRE BY LAW OF AN INTERNATIONAL CONVENTION OR TOVALOP.

FOR THE PURPOSE OF THE CLAUSE, THE MEANING OF THE TERM "OIL" AND
"POLLUTION DAMAGE"  SHALL BE AS DEFINED IN TOVALOP AND "TON" SHALL
BE UNDERSTOOD IN RELATION TO "TONNAGE" AS DEFINED THEREIN.



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