Auriga Shipping Management Pte. Ltd.

TANKER VOYAGE CHARTER PARTY AGREEMENT

This CHARTER PARTY made as of May 01st 2024 is between “UNIVERSAL PETROLEUM GROUP
(S) PTE. LTD.” (hereinafter called ’Charterer’) and AURIGA SHIPPING MANAGEMENT
PTE. LTD. (hereinafter called the ‘Owners’) that the transportation herein provided for will be
performed subject to the terms and conditions of this Charter Party, which includes this Preamble and
Part I and Part II. In the event of a conflict, the provisions of Part I will prevail over those contained in
Part II.

1. OWNER represents that it is the sole and exclusive owner of the vessel; that it has full right and
authority to enter into this agreement; that there are no claims, agreements, or encumbrances,
which would or might interfere with OWNER’s full performance of this agreement.

2. It is of the essence of this Charter party Agreement, and OWNER warrants that, at the time of
arrival and thereafter, the vessel is and shall remain seaworthy and that the vessel shall accord
with its description herein and shall be in every way seaworthy, fit,, sufficiently equipped,
manned with proper documentation, licensing and permits as required for the service as
described in this agreement.

Vessel: The vessels description are Aframax TANKERs, and Vessels’ Information’s Name , IMO /
MMSI , FLAG , shall be advised after the freight charges are paid
The physical description of the vessels: Will be defined
Captain: The Captain(s) of the vessels during this charter will be Master, The type of Licenses(s)
held by this Captain is STCW
The Captain(s) and any crew member(s) will at all times be employee(s) of OWNER. OWNERshall
furnish all wages and expenses of, and discharge all obligations of an employer with respect to, the
Captain(s) and Crew in connection with their respective services hereunder.
Crew: Estimated maximum number of vessels crew members supplied by OWNER 16 Estimated
maximum each.

3. Owner agrees to deliver Vessels to CHARTERER commencing on 06.05.2025 (00:01 LT) at port
of JURONG, SINGAPORE and continuing (subject to all terms and conditions of this agreement)
through (to be advised) times depends at which time the vessels shall be redelivered to OWNER
at (location) WILL BE AGREED and this charter terminated. CHARTERER shall be given the full
unrestricted and exclusive right to direct use of the vessel to accomplish the necessary
transportation, DIESEL FUEL EN 590 ULSD 10PPM sequences as it requires of the Vessels,
subject always to the Captain’s reasonable determination of safety, vessels’ performance, and
compliance with Coast Guard restrictions, or other state or federal requirements. OWNER shall
comply, at its own expense, with all applicable state and federal laws and regulations, all
applicable laws of any foreign country which asserts jurisdiction in the area where the Charter
party is to be performed, and any applicable governments, and all relevant authorities. OWNER
shall provide to CHARTERER or its agents, and shall maintain on the vessel at all times, all
documentation in respect of its compliance with said laws, regulations, and conventions.

Address Contacts
Auriga Shipping Management Pte Ltd Phone: +65 62560346
237 Alexandra Road, Fax: +65 62560387
The Alexcier, #03-15 1 Email:info@aurigaship.com
Singapore 159929 Website:www.aurigaship.com
 Auriga Shipping Management Pte. Ltd.

Freight Charges Tariff: Per Metric Tons is USD 450.00 x 2 x (100,000.00) MT = USD
900,000,000 totaling: with 100% payment to be paid after signing this contract, Payment to
be made to AURIGA SHIPPING MANAGEMENT PTE LTD (Logistics / Shipping Firm)
account before the vessel isdispatched.

4. Any hire paid in advance shall be adjusted accordingly and refunded in full.

5. (A) OWNER shall procure and maintain for the duration of the charter, at its own cost, the
insurance policies described below. Such policies shall name the CHARTERER, its parent(s),
subsidiaries, licensees, successors, related and affiliated companies, and their officers, directors,
employees, agents.

(i) All Risks Hull and Machinery Insurance up to the full value of each and every Vessel provided by
the OWNER in connection with the performance of the service.

(ii) Protection and Indemnity Insurance, in an aggregate amount not less than $10,000,000 per
occurrence, covering liabilities insured by OWNER under this Charter party Agreement. Such
policyshall also contain a cross-liability clause and be endorsed also to cover CHARTERER for
all liabilities arising out of use of the Vessel as described herein.

(iii) Vessel Pollution Liability Insurance covering all pollution liability and clean-up expenses, as
required by British Columbia, Canadian and other applicable laws. In no event shall the
aggregateamount of such insurance coverage be less than $10,000,000 per occurrence.

(iv) Personnel Insurance to cover the employees of OWNER for illness, personal injury or accidental
death to the full extent required by all laws applicable if not covered under OWNER’s P&I
Insurance.

(B) OWNER shall furnish to CHARTERER evidence of insurance in a form acceptable to CHARTERER
(certificate of insurance and applicable policy endorsements), and, at CHARTERER’s request, certified
copies of such insurance policies shall be provided prior to commencement of the services to be
performed.

(C) All OWNER’s policies mentioned above shall be primary and non-contributory and contain:
(i) A provision that OWNER’s policies will provide thirty (30) calendar days written notice to
CHARTERER of the cancellation of, non-renewal, or any material change or reduction in coverage to,
the insurance cover. Failure to maintain the above referenced insurance coverage’s continuously, or
conform to these provisions, shall be a material breach giving CHARTERER the right to terminate this
Agreement; and

(ii) A provision whereby OWNER’s insurers, with respect to the risks assumed by OWNER in this
Charterparty Agreement, waive their rights of subrogation against CHARTERER, its parent(s),
subsidiaries, licensees, successors, related and affiliated companies and their officers, directors,
employees, agents, representatives and assigns as their interests may appear .

Address Contacts
Auriga Shipping Management Pte Ltd Phone: +65 62560346
237 Alexandra Road, Fax: +65 62560387
The Alexcier, #03-15 2 Email:info@aurigaship.com
Singapore 159929 Website:www.aurigaship.com
 Auriga Shipping Management Pte. Ltd.

(iii) (D) If the OWNER fails or refuses to obtain, continue or provide CHARTERER with evidence of
insurance as and when required, CHARTERER, without prejudice to any of its other right, shall havethe
right to procure such insurance at OWNER’s expense in which event CHARTERER shall be entitled to
deduct any sums so paid by CHARTERER in this regard from any monies due, or which may become
due, to the OWNER in addition to any other remedies CHARTERER may have under this Charter party
Agreement.

(E) CHARTERER shall provide evidence satisfactory to OWNER of Commercial General Liability
insurance coverage for the mutual benefit of CHARTERER and OWNER with limits of liability of not less
than $1,000,000 anyone occurrence for the non-maritime business activities hereunder.

(F) CHARTERER or its payroll services company (if applicable) shall maintain throughout the charter
period a policy of Workers’ Compensation covering all of its employees while present on or about the
chartered vessel.

6. OWNER shall be fully responsible for and shall indemnify, defend and hold harmless
CHARTERER, its parent(s), subsidiaries, licensees, successors, related and affiliated
companies and their respective officers, directors, employees, agents, representatives, assigns
and underwriters (collectively referred to as “CHARTERER Indemnities”) from and against all
losses, damages, judgments, costs, obligations to indemnify others, charges and expenses
whatsoever, even if resulting from the negligence of other legal fault of CHARTERER, arising out
of or in connection with:

(A) Any illness, injury or death caused by the operation or unseaworthiness of the Vessel or the
active or passive negligence or wilful or intentional conduct of OWNER , its employees, agents,
orsubcontractors;

(B) Loss of or damage to any property caused by the operation or unseaworthiness of the Vessel or
the active or passive negligence or wilful or intentional conduct of OWNER or its employees,
agentsor subcontractors;

(C) Any illness, injury or death to any of OWNER’s employees or agents or the employees or agents
of any of OWNER’s subcontractors, howsoever caused;

(D) Loss of, damage to or loss of use of the Vessel and/or any machinery, equipment and any other
property belonging to or hired by the OWNER or any of the OWNER’s employees, agents or
subcontractors;

(E) Any pollution emanating from OWNER’s Vessel, however caused;

(F) Removal of wreck and/or debris of the Vessel and/or OWNER and its subcontractors’ equipment
and/or property as required by law; and

(G) Any and all fines or liabilities resulting from the breach or alleged breach of laws and regulations
by OWNER, regardless of whether or not caused by or contributed to by the negligence in any
form,active or passive, of the CHARTERER Indemnities.

Address Contacts
Auriga Shipping Management Pte Ltd Phone: +65 62560346
237 Alexandra Road, Fax: +65 62560387
The Alexcier, #03-15 3 Email:info@aurigaship.com
Singapore 159929 Website:www.aurigaship.com
 Auriga Shipping Management Pte. Ltd.

7. CHARTERER Indemnities shall be entitled to recover all of their attorney’s fees and costs
incurred in defending any such claims, actions or demands and in enforcing their right to
indemnityhereunder, including fees and costs incurred in any appeal.

8. CHARTERER has the right to modify the vessel (subject to OWNER’s consent which will not be
unreasonably withheld), paint, apply, or remove any insignia or identifying logos subject to
returning the vessel to OWNER in the same condition as when received subject to normal wear
and tear andinsured casualty.

9. CHARTERER shall have the right but not the obligation to procure an “on charter” and “off
charter” survey of the vessel by a qualified marine surveyor to determine the condition of the
vessel and establish the existence and extent of any damage thereon all at the sole cost of
CHARTERER. OWNER shall assist CHARTERER to any reasonable extent to accomplish any
such survey.

10. Nothing herein stated is to be construed as a demise or bareboat charter to CHARTERER of the
Vessel. OWNER shall remain responsible for the navigation of the Vessels, insurance as
provided in paragraph # 5, above, , the Captain(s) and crew (all of whom shall be employed by
OWNER and shall be deemed to be OWNER’s servants), and all other matters, the same as
whentrading for OWNER’S account.

11. If CHARTERER is prevented from shipping is fuel by reason of fire, strike, act of God, weather or
the elements, or any other cause beyond the control of the parties, this agreement shall be
temporarily suspended during the period of interruption, with no charter hire earned during the
period of interruption. At the end of this period of interruption, the agreement shall resume as if
said interruption had not occurred except that the schedule will be extended by the length of the
interruption.

12. This agreement may not be assigned except with the written consent of the parties whose
consent will not be unreasonably withheld. Written notices to OWNER shall be given by certified
or registered mail or by telegraph, addressed to OWNER at OWNER’S address set forth on page
one of this agreement, and written notices to CHARTERER shall be given by certified or
registered mail, or by telegraph, marked for the attention of the Law Department at the address
of CHARTERER shown herein.

13. Neither party shall be responsible to the other for consequential damages caused by the
unintentional breach of this agreement, or due to force majeure or any casualty, accident or act
of God.

14. OWNER waives any right or remedy in equity, including without limitation any right to terminate
or rescind this agreement or any right granted to CHARTERER hereunder, or to enjoin or
restrain or otherwise impair in any manner.

15. This Agreement shall be interpreted and governed by the laws of the General Maritime law of the
United Kingdom. The parties agree that any and all disputes or controversies of any nature
between them arising in connection with the Agreement shall be determined by binding
arbitration in accordance with the rules of LMAA (or, with the mutual agreement of the parties,
ADR Services) before a single neutral arbitrator ("Arbitrator") mutually agreed upon by the
parties. If the parties are unable to agree on an Arbitrator, the Arbitrator shall be appointed by

Address Contacts
Auriga Shipping Management Pte Ltd Phone: +65 62560346
237 Alexandra Road, Fax: +65 62560387
The Alexcier, #03-15 4 Email:info@aurigaship.com
Singapore 159929 Website:www.aurigaship.com
 Auriga Shipping Management Pte. Ltd.

the arbitration service. In determining any dispute between the parties, the Arbitrator shall first
give due regard to the intent of the parties as expressed in the Charter party Agreement and as
reasonably implied therefrom. All arbitration proceedings shall be closed to the public and
confidential and all records relating thereto shall be permanently sealed, except as necessary to
obtain court confirmation of the arbitration award.

16. OWNER acknowledges and agrees that OWNER has no interest in CHARTERER’s fuel or about
the vessel, and OWNER hereby grants to CHARTERER all right in perpetuity throughout the
universe in all such for all purposes.

OWNER and CHARTERER agree to be bound by all terms and conditions included in this agreement
which constitutes the sole understanding of the parties.

CHARTERER THE OWNER/SHIPPER

Universal Petroleum Group (S) Pte. Ltd. Auriga Shipping Management Pte.Ltd.

Mr. Masamichi Tokai Mr. Vasileios Papafaklis

President Director & C.E.O Managing Director
Date: May 1, 2024 Date: May 2, 2024

Address Contacts
Auriga Shipping Management Pte Ltd Phone: +65 62560346
237 Alexandra Road, Fax: +65 62560387
The Alexcier, #03-15 s Email:info@aurigaship.com
Singapore 159929 Website:www.aurigaship.com
 Auriga Shipping Management Pte. Ltd.

OFFICIAL USE ONLY

BILL OF LADING
Shipped in apparent good order and condition by on board

the Steamship/Mentorship whereof is Master,

at the port of to be delivered at the port of or sonear
thereto as the Vessel can safely get always afloat,
unto.
or order on payment of freight at therate
of
This shipment
is carried under and pursuant to the terms of the
contract/charter dated

XXXXX/XXXXX

Between and , as Charterer, and all the terms whatsoever ofthe

said contract/Charterers except the rate and the payment of freight specified therein apply to andgovern
the right of the parties concerned in this shipment.

In witness whereof the Master has signed Bills of Lading of this tenorand
date, one of which being accomplished, the others will be void Dated at this
day of Master

Address Contacts
Auriga Shipping Management Pte Ltd Phone: +65 62560346
237 Alexandra Road, Fax: +65 62560387
The Alexcier, #03-15 6 Email:info@aurigaship.com
Singapore 159929 Website:www.aurigaship.com