INTERTANKO Virtual and Late Arrival Clause

Subject always to the Vessel’s minimum safe speed, Charterers may request Owners to proceed at a speed (“the Set Speed”) such that the Vessel will reach the discharge port at a particular date and time (“the Revised ETA”). If, due only to Charterers’ request under this Clause, the Vessel proceeds below the minimum Charter Speed, any extra passage time will be charged at the agreed demurrage rate.

Upon completion of the voyage, any extra passage time as a result of the Vessel complying with Charterers’ request to reach the discharge port at the Revised ETA will be calculated as the difference between the theoretical Estimated Time of Arrival (ETA) at the minimum Charter Speed permitted under the charterparty and the actual time of arrival. Any bunker cost savings arising from Charterers’ request under this Clause will be shared equally between Owners and Charterers and shall be based on the comparison between the actual bunkers used and the quantity of bunkers that would have been used at the minimum Charter Speed permitted under the charterparty, according to the Master’s statement of bunker usage. Charterers’ share to be (in their option) deducted from demurrage or separately reimbursed by Owners. Owners will send to Charterers any relevant bunker consumption records.

Owners shall not be responsible for any losses Charterers may incur if the Vessel arrives after the Revised ETA as a result of weather or other navigational or local restrictions reasons en route to the discharge port.

If the Revised ETA requested by Charterers is later than the ETA calculated at the minimum Charter Speed, the Vessel shall be entitled either to stop or drift en route at a safe area at Master’s discretion or shall proceed with reasonable deviation to an intermediate port or anchorage, if one exists and/or is permitted by the relevant governing authorities. Any additional time, bunkers and port or other expenses that exceed the time, bunkers and port or other expenses that would have been incurred had the vessel proceeded directly to the discharge port to comply with Charterers’ requested Revised ETA, will be for Charterers’ account.

Charterers shall indemnify Owners for any liability that Owners incur to Bill of Lading holders as a result of Vessel’s compliance with Charterers’ request under this Clause. Owners are entitled to take out additional cover for such liability, with the cost for Charterers’ account.

Any bunker costs under this Clause will be calculated at the last purchased price. Any additional time will be calculated at the demurrage rate.