MARITIME MUTUAL

CERTIFICATE OF ENTRY

Issued subject to the terms and conditions of a Master Policy (the “Master Policy”) issued by Maritime Mutual Insurance Association (NZ)
Limited (“the Association”) to Maritime Mutual Association Limited (“MMAL”) (for its own benefit and the benefit of its Members, as
declared to the Association by Maritime Management Establishment as Managers of MMAL and the Association)

This is the certificate of insurance and entry of the vessel set out herein for account of the Member named hereunder subject to the Master
Policy and the Rules of the Association incorporated therein and from time to time in force, and to any special terms and conditions
endorsed hereon and/or may from time to time be circularised. The cover evidenced by this certificate of insurance shall commence as the
date(s) and time(s) specified below and shall continue until such time cover shall cease or be terminated in accordance with the said Master
Policy and/or Rules of the Association.

MMAL Member: PT Hanlyn Jaya Mandiri as Owner and/ or Manager.

Vessel: “Avanti”

Vessel Type: Oil Tanker

IMO Number: 9142021

Flag: Indonesia

Class: BKI

Year Built: 1995

Gross Tonnage: 758

Period of Cover: 12 months as from 6th October 2023

Trading Warranty: Indonesian waters only.

Conditions: As per Association Rules for Class I P&I (cover includes Wreck Removal
and Oil Pollution as per Class I Rules 4.14 & 4.24). Excluding claims for
discoloration of Cargo, howsoever occurring, absolutely unless it can be
conclusively proven that the vessel was responsible for causing the
discoloration.

Limit of Liability: USD 15,000,000 any one accident or occurrence.

Deductibles: USD 1,000 in respect of Crew claims any one person any one accident or
occurrence.
USD 7,500 in respect of Cargo claims each single voyage.
USD 7,500 in respect RDC/FFO claims any one accident or occurrence.
USD 7,500 in respect of Pollution claims (Rule 4.24) any one accident or
occurrence.
USD 10,000 or 10% of total claim payable by the Association in respect
of all claims following Total or Constructive Total Loss of vessel,
whichever the greater.
USD 7,500 in respect of all other claims any one accident or occurrence.

Registered in New Zealand

Incorporated under the Companies Act 1993 reg. no. 1521418
Level 6, 36 Kitchener Street
Auckland 1010, New Zealand
Telephone: + 64 9 915 1099
www.maritime-mutual.com

Maritime Mutual Insurance Association (NZ) Limited is not licensed to carry on insurance business in New Zealand. It is not subject to prudential regulation
under the Insurance (Prudential Supervision) Act 2010 and is not supervised by the Reserve Bank of New Zealand. Insurance underwritten by Maritime Mutual
Insurance Association (NZ) Limited is not available to persons in New Zealand
 All correspondents, surveyors, experts and other parties appointed by the
Association to investigate claims, or incidents which may give rise to a
claim, are deemed to have been appointed on behalf of the Member who
shall be responsible for payment of their fees and expenses and of all
associated costs arising from the investigation unless the claim or incident
results in a claim being made which falls within the Rules and terms of
entry and exceeds the applicable deductible.

Call Warranty: Payable in full within 30 days of due date, time being of the essence,
otherwise insurance automatically cancelled with the Association
accepting no liability arising from any incident.

Cancelling returns only.

Warranties: Warranted vessel BKI classed and class maintained.

Warranted vessel ISM and S.O.L.A.S. compliant (if applicable).

Warranted if the vessel is engaged in the carriage of products sharing the

same valve, pump and / or pipe system then the products are to be fully
compatible.

Warranted vessel to comply with the standard tank cleaning procedures

and the use of appropriate cleaning agents in respect of loading of different
grade of cargoes and/or product. Otherwise, the Association reserves the
right to reject in whole or in part, any claims arising therefrom.

Warranted that the purchase price of any Russian origin oil or oil product
carried is to be below the price cap set by the EU and other agreement
parties at the time of purchase and at all other material times. It is further
warranted that prior to the vessel loading any Russian oil or oil product the
Members shall provide the Association with completed, stamped, signed
and dated copies of the Association Circular of 20th July 2023 titled ‘Oil
and oil products price cap Notice and Endorsement’ and of the Attestation
in Appendix A of the said Circular together with full details of the cargo to
be loaded and the intended voyage.

Warranted no known or reported losses as at 9th October 2023.

Survey Warranty: Warranted sight and approval by the Association of survey reports carried
out in the last 18 months otherwise full condition survey to be carried out
within 30 days of attachment of coverage, at Member’s expense, by a
surveyor approved by the Association and all recommendations arising
therefrom must be fully complied with.

Furthermore, the Association reserves the right to reject in whole or in

part, any claim for reimbursement where it is due to Member’s non-
compliance of surveyor’s recommendations that caused or contributed to
the loss in respect of which the claim is made or where in the opinion of a
surveyor nominated by the Association, any defect which would have been
discovered had the condition survey already taken place, caused or
contributed to the loss in respect of which a claim is made.

MARITIME MUTUAL
 Furthermore, if upon receipt of the surveyor’s comments or report, the
Association is of the opinion that the vessel is not in a fit and proper
condition for acceptance for insurance the Association reserves the right to
terminate cover from inception.

CERTIFICATE NO. C23/ 53580

Date: 11th October 2023 …………………………

Authorised Signatory

Important
This Certificate of Entry is evidence only of the contract of indemnity insurance issued under the Master Policy between the above named
MMAL Member and the Association and shall not be construed as evidence of any undertaking, financial or otherwise on the part of the
Association or MMAL to any other party. If a MMAL Member tenders this certificate as evidence of insurance under any applicable law
relating to financial responsibility, or otherwise shows or offers it to any other party as evidence of insurance, such use of this certificate by
the MMAL Member is not to be taken as any indication that the Association or MMAL thereby consents to act as guarantor or to be sued
directly in any jurisdiction whatsoever. Neither the Association nor MMAL does so consent.

MARITIME MUTUAL