PT CITRA SAMUDERA RAYA

PEJATEN OFFICE PARK BLOK J,JLWARUNG BUNCIT RAYA NO.79

PEJATEN BARAT JAKARTA SELTAN DKI-JAKARTA,INDONESIA 12510
PIC:RENNI DEWI+6282324055571

Date of Issue:15 2024

Valid for Signed Febu
ary 2024
Until:15

CHARTER PARTY AGREEMENT

NO.:007ICPA/CRUDE OIL TANKER ICSR/II 2024

IT IS ON THIS DAY TUESDAY,01Sth FEBUARY 2024,MUTUALLY AGREED BETWEEN THE UNDERSIGNED

FOR CRUDE OIL TRANSPORTATION ON TIME CHARTER BASIS,WITH THE TERMS AND CONDITIONS SET
FORTH HEREIN UNDER:

OWNERIAGENT:
a.NAME OF COMPANY :PT.CITRA SAMUDERA RAYA.
b.ADDRESS :PEJATEN OFFICE PARK BLOK J,JL WARUNG BUNCIT RAYA
NO.79 PEJATEN BARAT,JAKARTA SELATAN,DKI-JAKARTA 12510

CHARTERER:
a.NAME OF COMPANY
:PT SUWANDA WIDYAWISESA ABINAWA
b.ADDRESS :JL MUKODAR TENGAH NO.45
CIBEUREUM CIMAHI SELATAN,CIMAHI,JAWA-BARAT

PERFORMING VESSEL CRUDE OIL TANKER:

▶NAME OF VESSEL:MORPHEUS OR SUB
>IMO NUMBER:9247443
▶MMSI:352978273
▶VESSELTYPE:OIL TANKER
>YEAR OF BUILT:2003
CLASSIFICATIONS:DNV GL
>FLAG OF VESSEL:PANAMA
>PORT OF REGISTRY:PANAMA
CALLSIGN:3E3373
▶GROSSTONNAGE:63213
▶DEADWEIGHT:111920
>LOA:256.17 X44.80 METRES
>HOLDS HATCHES:(ACCORDING TO DOCUMENT)
→CRANES:(ACCORDING TO DOCUMENT)
>GRABS:(ACCORDING TO DOCUMENT)
→GRANES CAPACITY:(ACCORDING TO DOCUMENT)
>MAIN ENGINE:(ACCORDING TO DOCUMENT)
>AUX DIESEL ENGINE:(ACCORDING TO DOCUMENT)
▶VESSELPOSITION:SINGAPORE
▶CHARTER PERIOD:1YEAR
TYPE OF CARGO:EN59010PPM -ULTRALOW SULPHUR DIESEL
>QUANTITY:100,000 TONS (10%MORE/LESS ON OWNER'OPTION)
=LAY-CAN:MID FEBUARY 2024(ESTIMATED)
>LOADING PORT:PORT OF JURONG,SINGAPORE.
DISCHARGE PORT:PORT OF FUJAIRAH,UAE.
→LOADING RATE (MAX):3000/BHORS (ACCORDING TO DOCUMENT)
>LOADING RATE:3000/8HORS (ACCORDING TO DOCUMENT)

This date:15 Febuary 2023 and place:Indonesia

Between the undersigned parties it has been agreed as follows:

·Al the information in this document are provlderd in good tai th without any guar antee.No waranty is made,and no Habiityls assumed,in
respect of the accuracy or completeress of any lnformation in this document,which may be subject to change without prior notike.Pease
cortact OWNER COMPANYPT.CITRA SAMUDERA RANM to verify the infarmation in thisdocument pr ior to using or relying on any of the
Infbrmation in this document.*

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NUMBER OF CREW.25 (ACCORDING TO DOCUMENT)

a.CHARTER FEES:USDS 900,000 PER MONTH (NINE HUNDRED THOUSAND DOLLAR)

“BROKER/CHARTERER COMMISSION TO BE UNCLUDED AS PART OF THE DEAL*
b.PAYMENT TERMS:MUST BE PAY IN 2 DAYSAFTER SIGNING THE CPA&INVOICE
C.TOTAL RENTAL TO BE PAID FOR FIRST PAYMENT:USDS 1,800,000.00(1 Month +1 Month)
d.METHOD OF PAYMENT :PAYMENT TRANSFER (TT
e.TRANSACTION INFORMATION:(ACCORDING TO DOCUMENT INVOICE)

SIGNATURES
I have read and understand the tems of this Agreement,plus al addtional conditons and/or addendums.

OWNER OR AUTHORIZED AGENT

Company Name:PT.CITRA SAMUDERA RAYA

Full Name of Signatory:MR.ROFIK RUSTANI.

Date:15 Febuar 2024

CHARTERER
Company Name:PT SUWANDA WIDYAWISESI

Full Name of Signatory:Mr.Fajn Habibie Suwant

Date:15 Febuar 2024

1.TERMS AND CONDITIONS:

Included/Excluded:(urless otherwise specfied under Addtional Conditions):The charter fee includes the services
of a Captaln and Crew,meals,standard ship's bar and all expenses related to running of the ves sel
and use of on-board sports equlpment.The charter fee does not indude (optional)Fuel,crew gratuities,scuba
diving, scuba equipmert,premium beverages and fine wines,excessive alcoholic consumption,off vessel
excurslons,
dockage,cruising taxes and permits,telephone,alrport transters or similar expense incurred by the CHARTERER

ADDITIONAL TERMSAND CONDITIONS:

2.PAYMENTS:
It isturther understood that the charter fees wil be paid atter signing the contract within 2 working day
of the bank by means of by telegraphic transfer.

·Al the information in this document are provlded in good tal th without any guarantee No waranty ismade,and no labiity is
assumed.in repect of the accuracy or completeress of any lhformation in this document,which may be subject to change without prlor
rotke Please Cortact OWNER COMPNWY PI.CITRASAMUDERA RAV to verity the infeamation in thisdocument pr lor to using or
Page 2
rehing on any of the
infbrmation in this document.*

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3.PAYMENTS:
SPECIFICALLY advance and frst month Time Charter (TC)payment will make payment to be paid
(1+1) one deposit and advance after sign contract within 3 working day of the bank by means of by
telegraphic transfer..

4.DEFAULTS IN PAYMENT:
Should any installment of charter fees not be paid on the date designated,the CHARTERER wll be
advised in wnting and will have 2 days to pay balances due.If the default continues thereafter,the
OWNER shall be so be advised by the BROKER,and the OWNER shall have the right to cancel this
Agreement without prejudice to his rights in respect of any arears of charter maney,ar of any breach
by the CHARTERER of the conditions contained herein.

5.CANCELLATIONS:
Should the CHARTERER cancel before the charter term begins,deposits will be refunded under the
following conditions;If the vessel is rebooked for the same period or portion thereof Deposits paid will be
refunded pro rata,less a service-fee equal to the BROKER'S full commission,If rebooking is not
possible, no refund will be made.If the OWNER cancels,the OWNER shall reimburse the
CHARTERER,through
the BROKER,for all deposits pald as of cancellation date,and pay BROKER'S full commission
Cancellations by OWNER or CHARTERER are to be in writing through the BROKER and
acknowledged by both parties.

6.BROKERAGE:
The OWNER and CHARTERER recognize as the sdle BROKER in connection with this Agreement.The
OWNER agrees to pay said BROKER customary and usual brokerage fees in connection with said charter
and for any extensions and subsequent charters of the vessel by this same CHARTERER or other members of
his/her Charter party for a period of 2 years fram the end of the inital charter.The paries,understand and agree
that the tunction of the BROKER is solely that of aranging the charter and that the BROKER is notresponsible for
the
CHARTERER'S,OWNER'S or crew's actions at any time,nor will the BROKER bellable for the satisfaction of the
CHARTERER or any actions or events outside BROKER'S direct control.OWNER agrees for itself and on behalf of
the vessef's captain and crew and the OWNER'S other employees and agents,not to solict future business trom
the CHARTERER wthout the written consent of the BROKER,except for any future charters of the vessel for which
BROKER shall be compensated as set forth above.This shall include but shall not be limited to the distribution on
the chartered vessel or thereatter to the CHARTERER of marketing materials for other vessel,agents or
BROKERS.The OWNER agrees to instruct the vessef's captain and crew and the OWNER'S other employees and
agents regarding their obligations as set forth above.

7.DELIVERY:
The OWNER agrees to deliver the vessel at the Port of Boarding in full commission and in proper
working order,having all licenses required for any jurisdiction within the area of charter,outfited as a
vessel of her size,type and accommodations,with tull equipment,incdlusive of that required by
law,and fully furnished,including galley and utensils,blankets,linens,and towels;in staunch,dean
and good
condition throughout and ready for service;and,further agrees to allow demurrage pro rata to the
CHARTERER for any delay in delivery,uniess caused by Force Majeure.Should it be impossible for
the OWNER to make delvery within twenty-four hours atter the start of the charter period (far any
reason other than Force Majeure),the CHARTERER may cancel or reschedule this Agreement.Any
charter
deposits paid in advance (plus BROKER'S commission)shall be returned by the OWNER in tul to
the CHARTERER at the CHARTERER'S option without further liablity to the OWNER,

8.FORCE MAJEURE:
Force Majeure is defined as any cause atributed to acts ofGOD,accldents,natural disaster,weather
or other occurrences beyond the reasonable control of the OWNER,and not caused by the OWNER'S
negligence.No warranty is made as to the sultability of weather with respect to this charter,It a Named
Stom threatens or is forecast to threaten the expected location of the charter vessel,as determined by
the Captain in his/her sole discretion,the Captain shall have the option of terminating or canceling the
charter any time that he/she deems necessary.No refund is provided for cancellation due to weather.

9.AUTHORITY:
The OWNER warrants that the Captain meets all requirements necessary to legally command the vessel
in the area chartered.While it is agreed the CHARTERER may determine the general movements and
destination of the vessel within the boundaries of this Agreement,it is understood that the Captain is in tull
cammand, and that the CHARTERER agrees to abide by his judgment as to dearance,sailing,weather
Contact OWNER COMPANY PT.CITRASAMUDERA RA to verity the infarmation In thisdocument pr lor to using or relying on any
conditions,anchorages
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·Al the informatian in this document areprevldded in good taith without any guarantee No warranty ismade,and no labalty is assumed,in

respect of the
information accuracy
in this or completeress of any information in this document,which may be subject to change without prlor
document.*

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and other pertinent matters.

10.LIENS:
The CHARTERER,his agents,and/or employees,have no right or power to permit or suffer the creation of any
Martime Liens against the vessel.The CHARTERER agrees to indemnify the OWNER for any charges or
losses incurred as a resut of a breach of this paragraph,induding reasonable attomey's fees.

11.NON-ASSIGNMENT:
The CHARTERER intends to sub-charter the vessel to a suitably experienced party with the OWNER'S consent
in writing.For clanty,payments to be made to the OWNER as per tem 2 and 3 above,shall be made by the
CHARTERER.The CHARTERER shall not assign this agreement to a third party without the owner's cansent
in writing.

12.RESTRICTED USE:
The CHARTERER agrees that the vesselshall be employed exclusively as a pleasure vessel for the sole and
proper use of himself,his famly,guests and servants,during the term of this charter,and shall not transport
merchandise,ar cany passengers for pay,or engage in any trade,nor in any way violate the Laws of any
Government within the
jurisdiction of which the ves sel may be at any tme,and shall comply with the law in all other respects.

13.NAVIGATION LIMITS:
The CHARTERER agrees to restrict the cruising of the vessel to the area specified on the 1st page of
this Agreement,cruising area.

14.INSURANCE:
The OWNER agrees to keep the vessel fully insured against fre,marine and collision risks and with protection
and indemnity coverage for the full tem of the charter period.The CHARTERER shall not beliable for any such
loss or
damage covered by such insurance.Falure by the OWNER to provide suchinsurance wil burden him with the same
responsibiity as if the vessel were so insured.The CHARTERER may purchase additonal Charter liability
insurance at his /her expense.The OWNER shallnot beheld responsible for loss or damage to personal property ar
for any
injury suffered by theCHARTERER,or any member of his party,during the term ot this charter,regardless of
whether any such loss or injury occurs on board the vessel or elsewhere,unless such loss,damage or injury is the
direct and proximate result of OWNER'S sole negligence.More specifically,but without limiting the foregoing,the
OWNER and his insurance underwriters accept no respons ibility or labiity for accidents,injunies or death related to
the vesse's dinghy,swimming and/or the use of snorkels,masks or allied equipment (such as scuba
equipment),water skiing,
windsurfing,personal watercraft,spinnaker flying,halyard tlying,or other sports equipment,whether or not
supplied by the OWNER or CHARTERER.

15.ACCIDENTS:
The OWNER agrees that should the vessel,after delivery,sustain breakdown of machinery,or be disabled,or
damaged by fire,grounding,collsion or other cause so as to prevent its use by the CHARTERER for a period of
twenty-four (24)consecutive hours or more,or should the vessel be lost or said damage(s)be so extensive that
the vessel cannot be,or is not repaired within twenty-four (24)hours,none of the above being brought about by any
act or default of the CHARTERER,the CHARTERER shall have the right to terminate the charter.The OWNER
shall
make a pro rata return of all charter fees to the CHARTERERfrom the time of such loss or damage.

16.DRUGSAND OTHER ILLEGALACTIVITIES:

The use,transportation,or possession of ilegal drugs or narcotics (including marjuara)or of any other contraband,
or the participation in any other unlawtul activity is strictly prohibited.The participation in any of these actvities by
CHARTERER,or by any guest ofthe party consttutes a breach of the charter and shall be cause for immediate
termination of this Agreemert without refund of any payments made by CHARTERER.CHARTERER will beheld
responsible for any loss or damage to the vessel due to any such violations and wil be put ashore at the next port of
call.
17.REDELIVERY:
The CHARTERER agrees to redeiver the vessel,her equipment and tumishings,tree and dear of any indebtedness
incurred forfby the CHARTERER,at the expiration of the charter.The CHARTERER also agrees to be responsible
for and to replace or make good any injury to the vessel,her equipment and turnishings caused by himself or by any
af his party,lessardinary wear and tear,except to the extent suchclaims are covered by insurance as provided
above. This means that the CHARTERER shall be responsible for any costs up to the amount of any
Cortact OWNER COMPWYPT.CITRASAMUDERA RA to verity the infarmation in this document prlor to using or relying on any
deductible.Should the CHARTERER hinder the vessef's redelivery to the place and tme stipulated,for whatever
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cause,he shall pay the

·Al the informatian in this document are provided In good faith without any guarantee.No warranty ismade,and no labllityls assumed,in
repect of the accuracy or completeress of any information in this document,which may be subject to change without prlor
infbrmation in this document.*

Page 4
OWNER demurrage prorata for additional charter time,plus any other losses the OWNER sustains related to the
delayed redelivery.If the delay in redelivery is due to Force Majeure,the CHARTERER is not held responsible for
any additional charter fees.

18.DISPUTE RESOLUTIONS:
Should the OWNER and CHARTERER be unable to reconcle any differences that may arise with respect to the
charter or this Agreement,such disputeshall be submitted first to mediation before a mediator mutually agreed
upon by the CHARTERER and the OWNER,with the cast thereof divided equally between the parties.The
mediation wil be in accordance with such rules asthe parties may designate agreeupon and in the event the
dispute cannot be
resolved by mediation,theneither party may resort to anaction as provided in paragraph 18.

19.VENUE:
The venue of any action arising from this Agreementshall lie exclusively in the Courts of the City and State of
OWNER'S residence,unless another place is mutually agreed upon,and both parties shall submit to the jun
sdiction of such court.

20.EXECUTION OF AGREEMENT:
The OWNER and CHARTERER,Whose signatures need not be afixed to the same copy of the VESSEL
CHARTER PARTY AGREEMENT,may transmit the Agreement by tacsimile ar other electronic means,The
separately signed
Agreement,and/or copies thereof,shall constitute a binding Agreement between the OWNER and the CHARTERER.

21.TRIP CANCELLATION INSURANCE:

The CHARTERER acknowledges that trip cancellation insurance has been offered and that he/she has the choice of
either accepting or decining such coverage.If CHARTERER accepts cancellation insurance from BROKER or other
source it is the CHARTERER'S responsibilty to understand the coverage's offered from the insurance compary.The
BROKER shall not beheld liable for any claims related to the travel insurance.This Agreement must be signed and
retumed within 1 days of receipt by the OWNER or the OWNER'S representative via electronic or other means to
the delivery address provided.Otherwise the CHARTERER has the right to cancel without penalty.This Charter
Party
Agreement run for a period one year and posible to extensions to three years,TO THE TRUE AND FAITHFUL
PERFORMANCE OF THE FOREGOING AGREEMENT,THE SAID PARTIES HERE TO BIND
THEMSELVES,THEIR HEIRS,EXECUTORS,ADMINISTRATORSANDASSIGNS,EACH TO THE OTHER.IN
WITNESS WHEREOF,THE
PARTIES HERETO HAVE HERE UNTO SET THEIR HANDS,AT THE DAY AND THE YEAR
FIRSTABOVE WRITTEN.

FOR AND ON BEHALF OF AGENT/OWNER FOR AND ON BEHALF OF CHARTERER:

PT.CITRA SAMUDERA RAYA

MR.ROFIK RUSTANI

PRESIDENT DIRECTOR

DATE:15Feb2024 DATE:15Feb2024

·AB the information in this document are provided In good faith wi thout any guarantee.No waranty ismade,and no labaity s
assumed,in repect of the acuracy or completeress of any ihform aton in this document,whikh may be subject to change without prlor
notice.Please cortact OWNER COMPNNYPT.CITRA SAMUDERA RAM to verify the infarmation in thisdocument prilor to using or relying
on any of the
Ihformation in this document.*
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