Cote d'Ivoire Award02-021

IFB #:
02-021
Tender Date:
Award Date:
Award Flag:
---
PVO:
OIC International
Agent:
Partenaire Co.
Program:
Food for Progress

[FoodAid/FFP/images/header.html]

CI FFP 02-021

Award

Fixture Recap, August 27, 2002

Partenaire Co. as agent for Opportunities Industrialization Centers
International (OICI), subject to the provisions of the Food for Progress
program, 7 CFR Part 1499, the Proforma NORGRAIN charter party adapted 2002,
and the terms and conditions of the IFB CI-FFP-02-021 confirms the following
fixture.

1. Shipowners.
Fortune Maritime, Inc.
c/o Sealift, Inc.
68 West Main Street
Oyster Bay, NY 11771-2294

2. Vessel:
MV Advantage
Multipurpose vessel, built 1977, U.S. Flag, Classed highest ABS,
27,750 DWT on 11.5 meters SSW, LOA 171 meters, Beam 26.3 meters
5 holds / 5 hatches, 4 x 16 ton cranes, 10 x 10 ton derricks

3. Cargo.
4,810 metric tons, min/max, Brown Rice in bulk.

3.1. Part cargo.
Completion cargo is bagged and cased agri-prods to West Africa (Abidjan /
Tema / Cotonou) booked with USAID under Inv. 082.
completion cargo(es) must be duly separated by natural separations, must be
compatible and non-injurious to this rice cargo, must be approved by
charterers/USDA if contracted after fixture of the OICI FFP cargo. Vessel's
itinerary and geographic proximity of completion cargo(es) will be taken
into consideration by charterers/USDA in approval of such part cargo(es) in
order not to unduly impede delivery of the OICI FFP cargo to the discharge
ports.

4. Laydays / canceling dates.
November 1 - 10, 2002

5.Preadvice.
Vessel shall give a minimum 14 days notice of ETA load port/range. The 14
day preadvice must be received by charterer's agent no later than 11:00 AM
(Washington DC time) on the business day it is given. Preadvice received
after 11:00 AM or on a holiday will count as received on the next business
day.

6. Loading.
Vessel shall load at 1/2 Safe Berth(s), 1/2 Safe U.S. Gulf Port(s). Vessel
ETA load port is November 1, 2002.

7. Discharging:
Vessel shall discharge at 1/2 Safe Berth(s) Abidjan (Max LOA 210 meters, max
draft 31 feet. Vessel is solely responsible for arriving at the discharge
port and berth(s) with a safe and acceptable draft and within acceptable
vessel size restrictions. Vessel ETA first discharge port in West Africa is
approximately 12 days after sailing last load port.

8. Freight rate.
U.S. dollars 159.85 per metric ton basis 1 load port.
U.S. dollars 12.50 per metric ton extra on entire cargo for an additional
load port, if used.

8.1. One way rate: $131.28 per metric ton.

9. Terms.
Vessel Load / Free Out Discharge.

10. Load rate.
The cargo is to be loaded according to berth terms with customary despatch
at the average rate of 2,000 metric tons per weather working day of 24
consecutive hours, Sunday and Holiday excepted even if used. Saturdays per
BFC Saturday clause.

10.1. Laytime accounts are to be settled directly between owners and
commodity supplier(s) at load port(s). Laytime calculation, overtime and
trimming to be in accordance to addendum No. 1 of the North American Export
Grain Association, Inc. FOB contract No. 2 (revised as of May 1, 2000)
clauses 1-10 inclusive, (hereinafter NAEGA) regardless of type of vessel.
Further, the following modifications to NAEGA will apply: anywhere the word
"buyer" appears, the words "shipowner" should be substituted in its place.
Under no circumstances shall charterers or CCC be responsible for resolving
disputes involving the calculation of laytime or the payment of demurrage or
despatch between the vessel owners and the commodity supplier(s). Any/all
disputes between vessel owners and the commodity supplier(s) arising out of
this contract relating to the settlement of laytime issues shall be
arbitrated in New York subject to the rules of the Society of Maritime
Arbitrators, Inc.

11. Discharge rate.
750 MT per day (basis tweendecker), weather working days, Saturdays,
Sundays, Holidays Excluded even if used (WWDSATSHEX EIU), basis a minimum of
2 workable/available holds or prorata, always provided vessel can discharge
at the charter party rate.

11.1. Discharge port laytime accounts are to be settled directly between
charterer and vessel owner. Vessel owner is to prepare and submit signed
discharge port laytime statement to charterer's agent for approval within 30
days of completion of discharge. Discharge port Notice of Readiness and
discharge port Statement of Facts, both signed on behalf of charterers and
vessel owner are to be presented with signed discharge port laytime
statement. Charterers or their agents shall promptly furnish to the Director
of USDA PL 480 Operations Division a copy of the signed Notice of Readiness,
laytime statement and Statement of Facts at discharge port(s). Under no
circumstances shall CCC be responsible for resolving disputes involving the
calculation of laytime or the payment of demurrage or despatch between
charterer and the vessel owner. Any/all disputes between charterer and
vessel owner arising out of this contract relating to the settlement of
laytime issues shall be arbitrated in New York subject to the rules of the
Society of Maritime Arbitrators, Inc.

12. Demurrage / Despatch.
Laytime is non-reversible. At loading Demurrage $10,000 per day, half
despatch. At discharge Demurrage $2000/day half despatch.

13. Fumigation.
Vessels must be able to be fumigated with an aluminum phosphide preparation
in-transit in accordance with the USDA, FGIS Fumigation Handbook and vessels
that cannot be so fumigated will not be considered. At the final loading
port, commodity supplier will arrange and pay for in-transit fumigation
performed by a certified applicator in accordance with the USDA, FGIS
Fumigation Handbook. Fumigation must be witnessed by FGIS, USDA and the
aluminum phosphide preparation must be contained in packaging as described
in the Fumigation Handbook. Dust retainers must be used. For tweendeckers
and bulk carriers (including push mode ITB), the recirculation method of
fumigation will be used.

If the cargo is found to be infested upon arrival at the discharge port by
government inspectors and clean bills of lading have been issued, fumigation
costs, if any, shall be for the vessel's account and time to count for U.S.
and foreign flag vessels.

14. Insurance.
Any extra insurance on cargo incurred owing to vessel's age, type, class,
flag or ownership to be for owners' account. In the case of U.S. flag
vessels, such extra insurance will be limited to the maximum obtainable in
the New York market.

15. Vessel agents.
Vessel agents at load and discharge port(s) shall be appointed and paid for
by shipowners.

16. ISM Code.
Owners guarantee that this vessel complies fully with the International
Safety Management (ISM) Code, if required, and is in possession of a valid
document of compliance and safety management certificate and will remain so
for the entirety of her employment under this charter party. Owners are to
provide charterers with satisfactory evidence of compliance if required to
do so and to remain fully responsible for any and all consequences resulting
directly or indirectly from any matter arising in connection with this
vessel and the ISM Code.

17. Substandard vessels.
Section 408 of the Coast Guard Authorization Act of 1998, Public Law 105-383
(46 USC Par. 2302(e)), establishes effective January 1, 1999, with respect
to non-US flag vessels and operators/owners, that substandard vessels and
vessels operated by operators/owners of substandard vessels are prohibited
from the carriage of government impelled (preference) cargoes for up to one
year after such substandard determination has been published electronically.
As the cargo advertised in this IFB is a government impelled (preference)
cargo, offerors must warrant that vessel(s) and owners/operators are not
disqualified to carry such government impelled (preference) cargo.

18. Commissions.
2/3 of 2.5% to Partenaire Co.
1/3 of 2.5% to Potomac Maritime LLC.

Partenaire Co. (as agent for OICI)
2101 Wilson Boulevard, Suite 104
Arlington, VA 22201
Fax: (703) 465-9118
Phone (703) 465-0095

Fixture Recap, August 27, 2002

Partenaire Co. as agent for Opportunities Industrialization Centers
International (OICI), subject to the provisions of the Food for Progress
program, 7 CFR Part 1499, the Proforma NORGRAIN charter party adapted 2002,
and the terms and conditions of the IFB CI-FFP-02-021 confirms the following
fixture.

1. Shipowners.
UNISHIPPING
4, rue du Bois de Boulogne
75116 Paris

2. Vessel:
MV Spring Ocean
Geared Bulk Carrier, Panama flag, built 1986
11,769 DWT on 8.44 meters
3 holds / 5 hatches (hydraulic hatch covers)
738,500 / 710,100 cubic feet Grain / Bale
Cranes 2 x 36 tons, 1 x 25 tons
LOA 116.43 meters, Beam 23 meters
Classed highest Nippon Kaiji

3. Cargo.
4,810 metric tons, min/max, Brown Rice in bulk.

3.1. Part cargo.
Completion cargo contemplated is foodaid and/or commercial foodstuff / pipe
/ general cargoes U.S. Gulf to West Africa.
Completion cargo(es) must be duly separated by natural separations, must be
compatible and non-injurious to this rice cargo, must be approved by
charterers/USDA if contracted after fixture of the OICI FFP cargo. Vessel's
itinerary and geographic proximity of completion cargo(es) will be taken
into consideration by charterers/USDA in approval of such part cargo(es) in
order not to unduly impede delivery of the OICI FFP cargo to the discharge
ports.

4. Laydays / canceling dates.
December 2 - 12, 2002

5.Preadvice.
Vessel shall give a minimum 14 days notice of ETA load port/range. The 14
day preadvice must be received by charterer's agent no later than 11:00 AM
(Washington DC time) on the business day it is given. Preadvice received
after 11:00 AM or on a holiday will count as received on the next business
day.

6. Loading.
Vessel shall load at 1/2 Safe Berth(s), 1/2 Safe Port(s) U.S. Gulf. Vessel
ETA load port is December 7 - 9, 2002.

7. Discharging:
Vessel shall discharge at 1/2 Safe Berth(s) Abidjan (Max LOA 210 meters, max
draft 31 feet. Vessel is solely responsible for arriving at the discharge
port and berth(s) with a safe and acceptable draft and within acceptable
vessel size restrictions. Vessel ETA Abidjan is approximately 22 / 25 days
after loading.

8. Freight rate.
U.S. dollars 45.00 per metric ton basis 1 load port.
U.S. dollars 3.00 per metric ton extra on entire cargo for an additional
load port, if used.

9. Terms.
Vessel Load / Free Out Discharge.

10. Load rate.
The cargo is to be loaded according to berth terms with customary despatch
at the average rate of 2,000 metric tons per weather working day of 24
consecutive hours, Sunday and Holiday excepted even if used. Saturdays per
BFC Saturday clause.

10.1. Laytime accounts are to be settled directly between owners and
commodity supplier(s) at load port(s). Laytime calculation, overtime and
trimming to be in accordance to addendum No. 1 of the North American Export
Grain Association, Inc. FOB contract No. 2 (revised as of May 1, 2000)
clauses 1-10 inclusive, (hereinafter NAEGA) regardless of type of vessel.
Further, the following modifications to NAEGA will apply: anywhere the word
"buyer" appears, the words "shipowner" should be substituted in its place.
Under no circumstances shall charterers or CCC be responsible for resolving
disputes involving the calculation of laytime or the payment of demurrage or
despatch between the vessel owners and the commodity supplier(s). Any/all
disputes between vessel owners and the commodity supplier(s) arising out of
this contract relating to the settlement of laytime issues shall be
arbitrated in New York subject to the rules of the Society of Maritime
Arbitrators, Inc.

11. Discharge rate.
1000 MT per day (basis bulk carrier), weather working days, Saturdays,
Sundays, Holidays Excluded even if used (WWDSATSHEX EIU), basis a minimum of
2 workable/available holds or prorata, always provided vessel can discharge
at the charter party rate.

11.1. Discharge port laytime accounts are to be settled directly between
charterer and vessel owner. Vessel owner is to prepare and submit signed
discharge port laytime statement to charterer's agent for approval within 30
days of completion of discharge. Discharge port Notice of Readiness and
discharge port Statement of Facts, both signed on behalf of charterers and
vessel owner are to be presented with signed discharge port laytime
statement. Charterers or their agents shall promptly furnish to the Director
of USDA PL 480 Operations Division a copy of the signed Notice of Readiness,
laytime statement and Statement of Facts at discharge port(s). Under no
circumstances shall CCC be responsible for resolving disputes involving the
calculation of laytime or the payment of demurrage or despatch between
charterer and the vessel owner. Any/all disputes between charterer and
vessel owner arising out of this contract relating to the settlement of
laytime issues shall be arbitrated in New York subject to the rules of the
Society of Maritime Arbitrators, Inc.

12. Demurrage / Despatch.
Laytime is non-reversible. Demurrage $6,000 per day, half despatch.

13. Fumigation.
Vessels must be able to be fumigated with an aluminum phosphide preparation
in-transit in accordance with the USDA, FGIS Fumigation Handbook and vessels
that cannot be so fumigated will not be considered. At the final loading
port, commodity supplier will arrange and pay for in-transit fumigation
performed by a certified applicator in accordance with the USDA, FGIS
Fumigation Handbook. Fumigation must be witnessed by FGIS, USDA and the
aluminum phosphide preparation must be contained in packaging as described
in the Fumigation Handbook. Dust retainers must be used. For tweendeckers
and bulk carriers (including push mode ITB), the recirculation method of
fumigation will be used.

If the cargo is found to be infested upon arrival at the discharge port by
government inspectors and clean bills of lading have been issued, fumigation
costs, if any, shall be for the vessel's account and time to count for U.S.
and foreign flag vessels.

14. Insurance.
Any extra insurance on cargo incurred owing to vessel's age, type, class,
flag or ownership to be for owners' account. In the case of U.S. flag
vessels, such extra insurance will be limited to the maximum obtainable in
the New York market.

15. Vessel agents.
Vessel agents at load and discharge port(s) shall be appointed and paid for
by shipowners.

16. ISM Code.
Owners guarantee that this vessel complies fully with the International
Safety Management (ISM) Code, if required, and is in possession of a valid
document of compliance and safety management certificate and will remain so
for the entirety of her employment under this charter party. Owners are to
provide charterers with satisfactory evidence of compliance if required to
do so and to remain fully responsible for any and all consequences resulting
directly or indirectly from any matter arising in connection with this
vessel and the ISM Code.

17. Substandard vessels.
Section 408 of the Coast Guard Authorization Act of 1998, Public Law 105-383
(46 USC Par. 2302(e)), establishes effective January 1, 1999, with respect
to non-US flag vessels and operators/owners, that substandard vessels and
vessels operated by operators/owners of substandard vessels are prohibited
from the carriage of government impelled (preference) cargoes for up to one
year after such substandard determination has been published electronically.
As the cargo advertised in this IFB is a government impelled (preference)
cargo, offerors must warrant that vessel(s) and owners/operators are not
disqualified to carry such government impelled (preference) cargo.

18. Commissions.
2/3 of 2.5% to Partenaire Co.
1/3 of 2.5% to Intl Navigation Corp.

Partenaire Co. (as agent for OICI)
2101 Wilson Boulevard, Suite 104
Arlington, VA 22201
Fax: (703) 465-9118
Phone (703) 465-0095


Tender

Partenaire Co. as agent for Opportunities Industrialization Centers
International (OICI), subject to the provisions of the Food for Progress
program, 7 CFR Part 1499, the Proforma NORGRAIN charter party adapted 2002,
and the terms and conditions set forth below, invites firm offers of U.S.
and non-U.S. flag named vessels (full or part cargo basis).

1. Offers.
Offers shall be received at the below address latest by:
11:00 AM August 20, 2002 and remain valid until:
18:00 PM August 23, 2002
All times Washington DC local time.

2. Cargo.
Brown Rice in bulk.

3. Quantity.
Two shipments of approximately 4,810 metric tons each. Contract quantity for
each shipment shall be on a min/max basis. Owners should consider offering
vessel(s) to carry a wider range of tonnages in order to accommodate the
program needs.

3.1. Part cargo offers.
Any additional completion cargo(es) must be duly separated by natural
separations, must be compatible and non-injurious to this rice cargo, must
be detailed in the offer or approved by charterers/USDA if contracted after
fixture of the OICI FFP cargo. Vessel's itinerary and geographic proximity
of completion cargo(es) will be taken into consideration by charterers/USDA
in approval of such part cargo(es) in order not to unduly impede delivery of
the OICI FFP cargo to the discharge ports.

4. Laydays / canceling dates.
The brown rice shall be shipped in two shipments as follows:

4.1. First shipment of 4,810 MT. November 1 - 15, 2002, any ten days at
charterers' option to be declared upon fixing the vessel.

4.2. Second shipment of 4,810 MT. December 2 - 16, 2002, any ten days at
charterers' option to be declared upon fixing the vessel.

Offers with canceling dates beyond each canceling date specified above will
not be considered.

5.Preadvice.
Vessel shall give a minimum 14 days notice of ETA load port/range. The 14
day preadvice must be received by charterer's agent no later than 11:00 AM
(Washington DC time) on the business day it is given. Preadvice received
after 11:00 AM or on a holiday will count as received on the next business
day.

6. Loading.
Vessel shall load at 1/2 Safe Berth(s), 1/2 Safe Port(s) U.S. Port(s) USA in
charterers' option. Offerors should specify the US coastal range and/or load
port(s) which are applicable to their offer.

7. Discharging:
Vessel shall discharge at 1/2 Safe Berth(s) Abidjan (Max LOA 210 meters, max
draft 31 feet. Vessel is solely responsible for arriving at the discharge
port and berth(s) with a safe and acceptable draft and within acceptable
vessel size restrictions.

8. Freight rate.
Freight rate shall be in U.S. dollars per metric ton basis 1 load port/1
discharge port. Additional freight charges must be specified for each
additional load port(s), if used. Offers requiring additional charges for
additional load and/or discharge berths will not be considered.

No other additional charges may be quoted in the offer.

9. Freight payment.
Freight is payable by CCC when the vessel and cargo have arrived at the
first or sole discharge port. For complete detail of the documentation
required for freight payment, please refer to charter party proforma clause
46 and note provisions regarding payment by electronic transfer.

10. Terms.
Vessel Load / Free Out Discharge.

11. Load rate.
The cargo is to be loaded according to berth terms with customary despatch
at the average rate of 2,000 metric tons per weather working day of 24
consecutive hours, Sunday and Holiday excepted even if used. Saturdays per
BFC Saturday clause.

11.1. LASH/Seabee barges: the load rates shall not apply.

11.2. Laytime accounts are to be settled directly between owners and
commodity supplier(s) at load port(s). Laytime calculation, overtime and
trimming to be in accordance to addendum No. 1 of the North American Export
Grain Association, Inc. FOB contract No. 2 (revised as of May 1, 2000)
clauses 1-10 inclusive, (hereinafter NAEGA) regardless of type of vessel.
Further, the following modifications to NAEGA will apply: anywhere the word
"buyer" appears, the words "shipowner" should be substituted in its place.
Under no circumstances shall charterers or CCC be responsible for resolving
disputes involving the calculation of laytime or the payment of demurrage or
despatch between the vessel owners and the commodity supplier(s). Any/all
disputes between vessel owners and the commodity supplier(s) arising out of
this contract relating to the settlement of laytime issues shall be
arbitrated in New York subject to the rules of the Society of Maritime
Arbitrators, Inc.

12. Discharge rate.
Discharge rates are basis weather working days, Saturdays, Sundays, Holidays
Excluded even if used (WWDSATSHEX EIU), basis a minimum of 2
workable/available holds or prorata, always provided vessel can discharge at
the charter party rate.

12.1. For bulkcarriers 1,000 MT per day.

12.2. For tweendeckers and liners 750 MT per day.

12.3. No discharge rate for LASH/Seabee barges.

12.4. Discharge port laytime accounts are to be settled directly between
charterer and vessel owner. Vessel owner is to prepare and submit signed
discharge port laytime statement to charterer's agent for approval within 30
days of completion of discharge. Discharge port Notice of Readiness and
discharge port Statement of Facts, both signed on behalf of charterers and
vessel owner are to be presented with signed discharge port laytime
statement. Charterers or their agents shall promptly furnish to the Director
of USDA PL 480 Operations Division a copy of the signed Notice of Readiness,
laytime statement and Statement of Facts at discharge port(s). Under no
circumstances shall CCC be responsible for resolving disputes involving the
calculation of laytime or the payment of demurrage or despatch between
charterer and the vessel owner. Any/all disputes between charterer and
vessel owner arising out of this contract relating to the settlement of
laytime issues shall be arbitrated in New York subject to the rules of the
Society of Maritime Arbitrators, Inc.

13. Demurrage / Despatch.
Laytime is non-reversible. Offers shall specify the demurrage and despatch
rates. Despatch must be half of the demurrage rate quoted.
Demurrage/despatch is applicable at load and discharge ports.

14. Offer specifications.
Only firm offers of named vessels with full particulars and which are
responsive to this IFB will be considered. U.S. flag offers subject open are
acceptable provided the subject is lifted by 11:00 AM August 21, 2002.

Offers are encouraged to provide all relevant information such as: Vessel's
name, flag, owners full style, vessel type, Built date, DWAT, cubics, LOA,
beam, draft, speed, hold/hatches, class, vessel gear, whether full of part
cargo and if part cargo with complete details on completion cargoes and
itinerary, vessel's present position, itinerary and ETA, freight,
demurrage/despatch rates.

Non-Vessel Operating Common Carriers (NVOCC) may not be employed to carry
U.S. or foreign flag shipments.

15. Fumigation.
Vessels must be able to be fumigated with an aluminum phosphide preparation
in-transit in accordance with the USDA, FGIS Fumigation Handbook and vessels
that cannot be so fumigated will not be considered. At the final loading
port, commodity supplier will arrange and pay for in-transit fumigation
performed by a certified applicator in accordance with the USDA, FGIS
Fumigation Handbook. Fumigation must be witnessed by FGIS, USDA and the
aluminum phosphide preparation must be contained in packaging as described
in the Fumigation Handbook. Dust retainers must be used. For tweendeckers
and bulk carriers (including push mode ITB), the recirculation method of
fumigation will be used.

Tweendeck vessels will be considered provided they are acceptable for
in-transit fumigation in accordance with FGIS Fumigation Handbook. Offers of
such tween-deck vessels must be accompanied by a copy of a letter from FGIS,
USDA stating that the vessel can be fumigated under the FGIS in-transit
fumigation procedures.

In addition, tweendeck vessels are acceptable only when a certified
applicator states that the vessel has been inspected and found to be
suitable for fumigation and such written statement from certified applicator
should be submitted with offer.

If the cargo is found to be infested upon arrival at the discharge port by
government inspectors and clean bills of lading have been issued, fumigation
costs, if any, shall be for the vessel's account and time to count for U.S.
and foreign flag vessels.

16. Vessel restrictions.
Tankers and towed barges are excluded. Push mode ITB units are acceptable.

16.1. vessels must be equipped with gear rated minimum 8 MT SWL able to
service every hatch and suitable for clamshell discharge. Vessel gear must
be able to reach over the top of the shore hoppers 6 meters in height from
the quay. U.S. flag gearless vessels must provide adequate discharge
equipment complying with the gear minimum requirements and able to discharge
at the charter party rate without negatively impacting the quality of the
rice. Vacuvators are not allowed.

16.2. Vessels must have mechanical or hydraulic hatch covers and must be
classed highest ABS, Lloyds or equivalent.

17. Insurance.
Foreign flag vessels shall not be older than 20 years. Any extra insurance
on cargo incurred owing to vessel's age, type, class, flag or ownership to
be for owners' account. In the case of U.S. flag vessels, such extra
insurance will be limited to the maximum obtainable in the New York market.

18. Vessel agents.
Vessel agents at load and discharge port(s) shall be appointed and paid for
by shipowners.

19. Bonds.
All offers shall be accompanied by a certified check for USD 10,000. Checks
of unsuccessful bidders will be available after awards have been made.
Checks of successful bidders shall be retained until completion of loading
as a performance bond, which shall not be construed as liquidation of
damages in the event of non-performance.

20. ISM Code.
Owners guarantee that this vessel complies fully with the International
Safety Management (ISM) Code, if required, and is in possession of a valid
document of compliance and safety management certificate and will remain so
for the entirety of her employment under this charter party. Owners are to
provide charterers with satisfactory evidence of compliance if required to
do so and to remain fully responsible for any and all consequences resulting
directly or indirectly from any matter arising in connection with this
vessel and the ISM Code.

21. Substandard vessels.
Section 408 of the Coast Guard Authorization Act of 1998, Public Law 105-383
(46 USC Par. 2302(e)), establishes effective January 1, 1999, with respect
to non-US flag vessels and operators/owners, that substandard vessels and
vessels operated by operators/owners of substandard vessels are prohibited
from the carriage of government impelled (preference) cargoes for up to one
year after such substandard determination has been published electronically.
As the cargo advertised in this IFB is a government impelled (preference)
cargo, offerors must warrant that vessel(s) and owners/operators are not
disqualified to carry such government impelled (preference) cargo.

22. Commissions.
For vessels offered direct: 2.5% to Partenaire Co.
For vessels offered through owners' broker: 2/3 of 2.5% to Partenaire Co.
and 1/3 of 2.5% for broker.

23. Terms for U.S. Flag vessels only.

23.1. Vessels offered subject to MARAD approval will not be considered. If
MARAD approval of vessel is required, same must be obtained before
submission of offers. Offers of U.S. flag vessels will not be considered if
the vessel operator had not provided MARAD with the vessel cost prior to
submission of offer.

23.2. U.S. flag offers are deemed to accept that (1) approved freight rate
will be reduced to no higher than the MARAD fair and reasonable rate in the
event that the approved vessel (including ITB) is substituted by a lower
cost vessel and (2) for vessels loading less than a full cargo, the less
than full cargo freight rate will be subject to a reduction to meet any
revised MARAD freight rate guide line due to vessel loading other additional
cargo.

23.3. U.S. flag vessels over 15 years old must offer an alternative freight
rate to be applicable in the event that the vessel is either scrapped or
vessel ownership transferred to another owner after discharge at destination
but prior to its return to the United States.

24. General conditions.

24.1. Offers shall be submitted only by sealed letter or fax at the address
shown in section 25. U.S. and foreign flag offers shall be opened and read
in public and no negotiation is permitted. Late offers and phone offers will
not be accepted.

24.2. Copies of the Proforma charter party and the IFB are available at the
office of the charterers' agent (address below). The IFB and Proforma
charter party can also be downloaded from charterers' agent web site:
http://www.partnaire.com

24.3. Fixtures are subject to USDA and charterers approval.

24.4. Offers shall contain the name/telephone number (office/home) of the
contact person.

24.5. If a fax offer begins to print before the above stated time and
continues to print past the stated time, the offer will be considered to
have been received on time. Offers which start to print or submitted after
the deadline will not be considered.

25. Address for submitting offers.
Partenaire Co.
2101 Wilson Boulevard, Suite 104
(Court House Metro Station)
Arlington, VA 22201
Fax: (703) 465-9118
Phone (703) 465-0095 (For info only)

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