22 TANKERS 22 BULK CARRIERS

22 TANKERS 22 BULK CARRIERS

The Freight Collection Dept. Managing day-to-day Operational and Post Fixture Activities

VESSEL S EMPLOYMENT CHARTERS VOYAGE TIME

DEPARTMENT S RESPONSIBILITES UNDER A VOYAGE CHARTER VOYAGE CHARTER FREIGHT DEADFREIGHT (DRY CARGO) / MINIMUM QUANTITY (TANKERS) LAYTIME CALCULATION DEMURRAGE / DESPATCH DEVIATION & DETENTION CLAIMS SPEED-UP CLAIMS HEAT-UP CLAIMS CHARTERERS ACCOUNT ITEMS / EXPENSES MONITORING ACCOUNTS RECEIVABLES CHECK / APPROVE BROKERAGE COMMISSION INVOICES PASSING FILES TO CLAIMS & INSURANCE DEPT.

THE CALCULATION & COLLECTION OF FREIGHT USD / MT Gross B(s)/L figures multiplied by the agreed freight rate example: USD 9 per MT LUMPSUM AMOUNT A fixed amount is agreed for performing a specific voyage example: USD 1,500,000 for a voyage MED/FAR EAST FREIGHT PAYMENT DRY CARGO: THE FREIGHT IS USUALLY PAYABLE BEFORE COMMENCEMENT OF CARGO DISCHARGE (BBB) TANKERS: THE FREIGHT IS USUALLY PAYABLE AFTER COMPLETION OF CARGO DISCHARGE

FREIGHT CALCULATION EXAMPLE (TANKER) MIN QUANTITY 135,000.00 B/L QUANTITY: 142,956.096 MT CP WS RATE: 70% FLAT RATE:US$ 4.61/MT OVERAGE: 50% OF THE AGREED WS RATE DEBIT CREDIT FREIGHT FOR 135,000.00 MT @ USD $4.61 PMT @ WS 70% $435,645.00 OVERAGE 7,956.096 MT @ USD $4.61 PMT @ WS 35% $12,837.16 ADDRESS COM. 1.25% $5,606.03 TOTALS: $448,482.16 $5,606.03 BALANCE DUE OWNERS $442,876.13 e. & o.e.

FREIGHT CALCULATION EXAMPLE (BULKER) FREIGHT RATE: $30.50/MT B/L QUANTITY: 35,200.00 MT BULK UREA RIGA/PARANAGUA 27,500.00 mts blk ammonium nitrate plus 7,700.00 mts blk urea Riga / Paranagua FREIGHT INVOICE: US$ FREIGHT : 35,200.000 m tons @ $30.50 per mt 1,073,600.00 ADDRESS : On Freight 2.50% -26,840.00 BROKERAGE: On Freight 1.25% -13,420.00 BALANCE DUE OWNERS: 1,033,340.00 e+oe

FREIGHT CALCULATION EXAMPLE (LUMPSUM FREIGHT) DEBITS CREDITS LUMPSUM FREIGHT $1,310,000.00 ADDRESS COMMISION 2.50% $32,750.00 TOTALS : $1,310,000.00 $32,750.00 BALANCE DUE : OWNERS $1,277,250.00 E & EO

LAYTIME CALCULATION LAYTIME: LAYTIME CAN BE DEFINED AS THE TIME PERMITTED IN THE CONTRACT TO THE CHARTERER FOR LOADING AND/OR DISCHARGING A VOYAGE CHARTERED SHIP. DEMURRAGE: IF THIS PERMITTED TIME IS EXCEEDED, THE SHIPOWNER OR OPERATOR OF THE SHIP IS ENTITLED TO DAMAGES. THESE DAMAGES ARE NORMALLY AGREED TO BE LIQUIDATED THAT IS TO SAY A DAILY SUM OF MONEY (PER DAY OR PRO RATA FOR A PART OF A DAY) WILL BE NEGOTIATED IN THE FORM OF DEMURRAGE i.e. US$30,000.00/PRDPR. DESPATCH: IF THE VESSEL FINISHES BEFORE THE LAYTIME HAS BEEN USED, THE CHARTERER IS ENTITLED TO A REWARD IN THE FORM OF PAYMENT OF DESPATCH MONEY USUALLY PAYABLE AT HALF THE DEMURRAGE RATE i.e. US$ 15,000.00/PDPR NOTE: NO DESPATCH IS APPLICABLE IN THE TANKERS TRADE. IMPORTANCE OF ACCURATE AND CORRECT LAYTIME CALCULATION: CONSIDERABLE SUMS OF MONEY AT STAKE, WHICH WILL HAVE A NOTICEABLE EFFECT ON SHIP S PROFITABILITY. READ C/P CLAUSES, OBTAIN SOF/TIME SHEETS, ESTABLISH COMMENCEMENT OF LAYTIME, ALLOW FOR EXCEPTIONS/INTERRUPTIONS, ESTABLISH CESSATION, CALCULATE DEMURRAGE or DESPATCH DISPUTES RESOLUTION: ARBITRATION / LITIGATION / MEDIATION / COMMON LAW BEING CONTINUOUSLY UPDATED OF THE LATEST MARITIME ARBITRATION AWARDS

CAREFUL STUDY OF ALL AVAILABLE INFORMATION: (SOF, TIME SHEETS, EXCHANGES) LAYTIME CALCULATION CAREFUL STUDY OF THE RELEVANT C/P CLAUSES LIAISON WITH OPS DEPT, MASTER, AGENTS

DEPARTMENT S RESPONSIBILITES UNDER A TIME CHARTER TIME CHARTER CALCULATION & COLLECTION OF THE CHARTER HIRE BUNKERS ON DELIVERY BUNKERS ON RE-DELIVERY DEALING WITH PERFORMANCE CLAIMS DEALING WITH OFF-HIRES & OTHER DISPUTES SPEED UNDER- PERFORMANCE CLAIMS BUNKER OVER- CONSUMPTION CLAIMS DELIVERY/ REDELIVERY TIME, VESSEL S HOLDS CONDITION, BREAKDOWNS, PORT EXPS STEVEDORES DAMAGES

HIRE CALCULATION EXAMPLE PRELIMINARY FINAL HIRE STATEMENT CREDIT $ DEBIT $ HIRE FROM 20-Dec-01 20:30 GMT TO 28-Dec-01 09:25 GMT TOTAL 7.53819 days at $6,500 per day $48,998.26 COMMISSIONS 5.00% $2,449.91 BUNKERS ON DELIVERY IFO 874.790 MT at $280 per MT $244,941.20 LSFO 202.654 MT at $350 per MT $70,928.90 MDO 119.994 MT at $520 per MT $62,396.88 BUNKERS ON REDELIVERY IFO 857.400 MT at $280 per MT $240,072.00 LSFO 202.654 MT at $350 per MT $70,928.90 MDO 104.900 MT at $520 per MT $54,548.00 CHARTERERS EXPENSES ILOHC (USD 4,000) $4,000.00 CAB/ENT/VICT USD 1,250/PMPR $314.09 TOTALS $367,998.81 $431,579.34 BALANCE DUE : OWNERS $63,580.52 E & O.E

COOPERATION WITH OTHER DEPARTMENTS CLAIMS DEPT OPERATIONS DEPT. CHARTERING DEPT. OPERATIONS: DAILY LIAISON WITH OPERATIONS TEAM TO ENSURE THAT POST-FIXTURES MATTERS/ITEMS ARE CONCLUDED SMOOTHLY AND ACCORDING TO CHARTERPARTY TERMS & CONDITIONS CHARTERING: REVIEWING AND SUGGESTING AMENDMENDS IN C/P FINANCIAL TERMS AS WELL AS IN LAYTIME / DEMURRAGE CLAUSES. ALSO PROVIDING SUPPORT TO THE CHARTERING FOR AS MUCH AS POSSIBLE REALISTIC RUNNING OF VOYAGE ESTIMATES FINANCE DEPT. FREIGHT DEPT. DISBURSMENTS DEPT. DISBURSMENTS: THE D/As PROVIDES TO THE FREIGHT DEPT. THE NECESSARY INVOICES AND SUPPORTING VOUCHERS TO BE CLAIMED BACK / REIMBURSED FROM CHARTERERS ACCOUNTS / CONTROLLERS: THE FREIGHT DEPT. PREPARES AND PROVIDES RELEVANT STATEMENTS AND LISTS WITH THE OUTSTANDING BALANCES / ACCOUNTS FOR MONITORING AND AUDITING PURPOSES CONTROLLERS DEPT. ACCOUNTS DEPT. FINANCE: THE FINANCE DEPT. ADVISES THE DAILY COLLECTIONS ENABLING THE FREIGHT DEPT. TO UPDATE ITS OUTSTANDING BALANCES / ACCOUNTS LISTS. THE FREIGHT DEPT. ALSO DRAW UP LISTS WITH THE EXPECTED RECEIVABLES NEEDED BY THE FINANCE FOR BUDGETING PURPOSES CLAIMS: PASSING CASES IN DISPUTE TO THE CLAIMS DEPT.

POSITION S PROFILE ATTENTION TO DETAIL

PROACTIVE

GOOD NEGOTIATION SKILLS

ABLE TO WORK UNDER PRESSURE

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