Subject: ammendment for the signed agreement on March 15
From: opt_official <[email-masked]>
To: "[email-masked]" <[email-masked]>
Date: Mon, 17 Apr 2023 00:23:29 +0800 (CST)

Dear Sir,

Greetings. As we triggered the option of lifting cargoes from FOB Malaysia through STS, below are the few key terms which we need to ammend the original agreetment signed on March 15, 2023.
1. clause 6 NOMINATION/LAYCAN:
 THE BUYER SHALL NOTIFY THE SELLER A PREFERRED 3- DAY LAYCAN, LATEST BY 7 DAYS PRIOR TO THE FIRST DAY OF THE PREFERRED LOADING PERIOD. THE LAYCAN SHALL NOT BE EFFECTIVE UNLESS IT IS RECEIVED AND ACCEPTED BY THE SELLER AT LEAST 7 DAYS PRIOR TO THE FIRST DAY OF LAYCAN. THE SELLER WILL CONFIRM A 3- DAY LAYCAN (“CONFIRMED LAYCAN”), WHICH COULD BE DIFFERENT FROM THE BUYER’S PROPOSED LAYCAN BUT IT WOULD BE WITHIN THE BUYER’S PROPOSED LOADING PERIOD AND AGREED BY BUYER. 
Add: 6-4

DURING THE PERFORMANCE OF THIS CONTRACT, THE PERFORMING VESSEL NOMINATED BY SELLER AND THE PERSONS ASSOCIATED WITH IT (INCLUDING BUT NOT LIMITED TO: THE OWNER, THE CHARTERER), THE CARGO CARRIED (INCLUDING BUT NOT LIMITED TO: THE CONSIGNOR, THE CONSIGNEE, THE SHIPPER, ETC.) AT THE TIME OF DELIVERY OF THE GOODS HAVE NOT BEEN AND WILL NOT BE INVOLVED IN ANY SANCTIONED ACT UNDER THE UNITED NATIONS, THE UNITED STATES, THE EUROPEAN UNION, ETC. THE SELLER ACKNOWLEDGES THAT IN THE EVENT OF ANY SANCTION, PROHIBITION OR RESTRICTION WHICH WOULD SUBJECT THE BUYER TO ANY UNITED NATIONS RESOLUTION OR TRADE OR ECONOMIC SANCTIONS, LAWS OR REGULATIONS OF THE UNITED STATES, EUROPEAN UNION, UNITED KINGDOM, ETC., THE SELLER ASSUMES ALL RESPONSIBILITY AND INDEMNIFIES THE BUYER AGAINST ALL LOSSES RESULTING THEREFROM.

2. clause 7-3: IF THE BUYER REQUESTS THE SELLER TO DELIVER THE CARGO IN MALAYSIA, ALL TRANSPORTATION COSTS MUST BE PAID BY BUYER, BUT THE TOTAL COST CAN NOT EXCEEDS TWO(2.00) US DOLLARS PER BARREL.

3. clause 8-2:  THIS CLAUSE DOESN'T APPLY IF THE FAILURE IS CAUSED BY FACTORS BEYOND BUYER'S CONTROL.
add 8-3:

IN CASE, THE SELLER’S NOMINATED VESSEL FAILS TO TENDER N.O. R (I. E. THREE DAYS FROM THE  LAST DAY OF ACCEPTED DATE RANGE),  THEN THE SELLER SHALL COMPENSATE ALL COSTS WHICH IS INCLUDING BUT NOT LIMITED TO THE LOSSES, SHORTAGES AND DAMAGES, TRANSPORTATION/  FREIGHT/ HIRE, BERTH AND UNBERTH, PORT DUE COST OF DAUGHTER VESSEL AND ETC. FOR IMPLEMENTING OF SUCH COSTS, BUYER’S FINANCIAL AFFAIRS SHALL ADD TOTAL/ PARTIAL THE ABOVE- MENTIONED CALCULATED VALUE TO THE ONE OR SOME OF INVOICE (S) AT THE BUYER’S DISCRETION. IT IS WELL UNDERSTOOD THAT SUCH COMPENSATION SHALL BE FINAL AND BINDING AND THE SELLER SHALL HAVE NO RIGHT TO OBJECT WHATSOEVER.

4. clause 9:
add 9-2:

QUALITY OF THE PRODUCT DELIVERED UNDER THIS CONTRACT SHALL MEET THE FOLLOWING SPECIFICATIONS.  THE TESTED ANALYSIS REPORT ISSUED BY AN INDEPENDENT INSPECTOR AGREED BY BOTH PARTIES SHALL BE FINAL AND BINDING UPON BOTH PARTIES :

MAIN INDEX: DENSITY(15℃)＜ 0.75G/CM³，SULPHUR CONTENT＜0.25%，WATER CONTENT IS NIL  MERCAPTAN CONTENT<1700MG/KG

BUYER HAS RIGHT TO REJECT THE CARGO WITHOUT ANY REAPONSIBILITY IF THE QUALITY DOESN’T MEET THE REQUEST OF THIS CONTRACT. 

5. clause 11. PRICE

11- 1: INCASEOFFOBAND/ORSTS, THEPRICEOFEACHNETUSBARRELOFCONDENSATEUNDERTHETERMSAND CONDITIONSOFTHISCONTRACT WILL BE IN USD PER BBL AND SHALLBEDETERMINEDBYDEDUCTIONOF NINETEENPOINTFIVEZERO (19.5)US DOLLARPER BBLFROMTHEAVERAGE OF CONSECUTIVE AND EFFECTIVE SETTLEMENT QUOTATIONS OF THE NEXT MONTH OF FIRST NEARBY MONTH/FIRST LINE OF ICE BRENT CRUDE OIL SETTLEMENT QUOTATIONS ON THE FOLLOWING DAYS:

10 WORKING DAYS AFTER THE TWO VESSELS CONNECTED (DAY+1 TO DAY+10, BOTH DAYS INCLUSIVE)

 (THE DAY OF TWO VESSELS CONNECTED AS DAY+0)

AS PUBLISHED BY THE “THE ICE WEBSITE” (HTTPS://WWW.THEICE.COM). IF THERE IS NO VALID QUOTATION ON ANY OF THE ABOVE MENTIONED DAYS, THE NEXT VALID SECOND LINE OF BRENT CRUDE OIL SETTLEMENT QUOTATIONS IS ALSO APPLICABLE. IN ANY CASE, 10 CONSECUTIVE VALID BRENT SETTLEMENT PRICES SHALL BE ENSURED TO EXIST.

FINALUNITPRICE = AVERAGEOF10CONSECUTIVE AND EFFECTIVE SETTLEMENT QUOTATIONS OF THE NEXT MONTH OF FIRST NEARBY MONTH/FIRST LINE OF ICE BRENT CRUDE OIL SETTLEMENT QUOTATIONS ON (THE DAY OF TWO VESSELS CONNECTED AS DAY+0) day+1 to day+10, both days inclusive. ASPUBLISHEDBYTHE “THEICEWEBSITE” (HTTPS://WWW.THEICE.COM) - 19.5USD/BBL.

 11-2: INCALCULATINGTHEFINALUNITPRICE, THEARITHMETICRULESOFROUNDINGTOTWODECIMALPOINTSSHALL BEAPPLIED:

A.   IFTHETHIRDDECIMALPOINTIS (4) ORANYNUMBERLESS (4) SUCHTHIRDAND/ORMOREDECIMALPOINTSSHALL BE IGNORED .

B.   IFTHETHIRDDECIMALPOINTIS (5) ORANYNUMBEROVER (5), THENONEDIGITSHALLBEADDEDTOTHESECOND DECIMALPOINTANDTHERESTWILLBEIGNORED.   

6. CLAUSE 12

add 12-2:

AFTER THE FINAL QUANTITY AND QUALITY ARE DETERMINED, BOTH PARTIES SHALL COMPLETE THE SETTLEMENT WITHIN 3 WORKING DAYS. SELLER SHALL ISSUE ITS FINAL INVOICE UPON COMPLETION OF PRICING AND THE INVOICE WILL GIVE CREDIT FOR ANY OF THE PROVISIONAL PRICE AND/OR PREPAYMENT THAT HAS BEEN PAID BY BUYER. ANY OUTSTANDING BALANCE DUE BY EITHER PARTY TO THE OTHER FOR ANY DIFFERENTIAL BETWEEN THE PROVISIONAL AND FINAL INVOICE AMOUNTS SHALL BE SETTLED BY THE OWING PARTY BY NO LATER THAN THREE(3) BANKING DAYS AFTER THE ISSUANCE OF SUCH FINAL INVOICE.

7. CLAUSE 13: QUANTITYANDQUALITYDETERMINATION:

THE QUALITY OF THE CONDENSATE OIL IS SUBJECT TO THE INSPECTION BY AN INDEPENDENT THIRD PARTY AT THE STS (IN ACCORDANCE WITH ANNEX STAND EXPORT QUALITY).

QUALITY SHALL BE FINAL AND BINDING BASIS SHIP TANK VOLUMETRIC COMPOSITE SAMPLE DRAWN PRIOR TO DISCHARGE AT STS.

13-1: IF THE DIFFERENCE BETWEEN MOTHER VESSEL NET DELIVERED AND DAUGHTER VESSEL NET RECEIVED EQUAL AND EXCEEDS 2 ‰，THEN THE QUANTITY SHALL BE DETERMINED BASED NET QUANTITY BUYER RECEIVED ON BOARD(WITHOUT VEF TO APPLY -BS&W-FREE WATER) ACCORDING TO AN INDEPENDENT INSPECTOR'S REPORT. ANY FORM OF WATER CONTENT WILL BE DEDUCTED FROM THE SETTLEMENT QUANTITY.

IF THE DIFFERENCE BETWEEN MOTHER VESSEL NET DELIVERED AND DAUGHTER VESSEL NET RECEIVED BELOWS 2 ‰，THEN THE QUANTITY SHALL BE DETERMINED BASED NET QUANTITY MOTHER VESSEL NET DELIVERED ON BOARD(WITHOUT VEF TO APPLY -BS&W-FREE WATER) ACCORDING TO AN INDEPENDENT INSPECTOR'S REPORT. ANY FORM OF WATER CONTENT WILL BE DEDUCTED FROM THE SETTLEMENT QUANTITY.

13- 2:THESELLERMAYAPPOINTANINSPECTORTOWITNESSTHESTSOPERATIONS. MEANWHILE, THESELLERSHALL ALLOWTHEBUYER’S REPRESENTATIVETOWITNESSTHELOADINGOPERATIONSAT NOMINATEDTERMINALANDTHECOST SHALLBEBORNEBYTHEBUYER.

8. CLAUSE 15: LAYTIME AND DEMURRAGE NOT APPLICABLE. BOTH PARTIES SHALL BE RESPONSIBLE FOR THE DEMURRAGE OF ITS OWN PERFORMING VESSEL.

Please kindly confirm above ammendent before we proceed the down payment. 

thanks and best regards,

Tom