Institute Time Clauses - Hulls 1.10.83

This insurance is subject to English law and practice

Provided b y European Link S.A. www.european link.gr

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NAVIGAT ION

1.1 The Vessel is covered subject to the provisions of this insuranc e at all times and has leave to

sail or navigate with or w ithout pilots, to go on trial trips and to ass ist and tow vessels or craft

in distress, but it is warranted that the Vessel shall not be towed, except as is customary or

to the first safe port or place when in need of assistance, or undertake tow age or salvage

services under a contract previously arranged by the Assured and/or Owners and/or

Managers and/or Charterers. This Clause 1.1, shall not exclude customary towage in

connection with loading and discharging,

1.2 In the event of the Vessel being employed in trading operations which entail cargo loading or

discharging at sea from or into another vessel (not being a harbour or inshore craft) no claim

shall be recoverable under this insuranc e for loss of or damage to the Vessel or liability to

any other vessel arising from such loading or discharging operations, including whilst

approaching, ly ing alongside and leaving, unless previous notice that the Vessel is to be

employed in such operations has been given to the Underwriters and any amended terms of

cover and any additional premium required by them have been agreed.

1.3 In the event of the Vessel sailing (with or without cargo) with an intention of being (a) broken

up, or (b) s old for breaking up, any claim for loss of or damage to the Vessel occurring

subsequent to such sailing s hall be lim ited to the market value of the Vessel as scrap at the

time when the loss or damage is sustained, unless previous notice has been given to the

Underwriters and any amendments to the terms of cover insured value and premium

required by them have been agreed. Nothing in this Clause 1.3 shall affect claims under

Clauses 8 and/or 11.

CONTIN