L.N.G. CLAUSES

1. This insurance attaches from the time the subject matter leaves the tanks at port of shipment and whilst in transit and or awaiting transit and terminates on delivery in shore tanks at destination named in the Policy.

2. If owing to circumstances beyond the control of the Assured, either the contract of affreightment is terminated at a port or place other than the destination named therein or the adventure is otherwise terminated before delivery of the subject matter insured as provided for in Clause 1 above, then, subject to prompt notice being given to Underwriters and to an additional premium, if required, this insurance shall remain in force until either:

(i) The subject matter is sold and delivered at such port or place or unless otherwise specially agreed until the expiry of 48 hours after completion of discharge overside of the subject matter hereby insured from the oversea vessel at such port or place whichever shall first occur

or

(ii) If the subject matter is forwarded within the said period of 48 hours (or any agreed extension thereof) to the destination named in the Policy or to any other destination, until terminated in accordance with the provisions of Clause 1 above.

This insurance shall remain in force (subject to termination as provided for above) during delay beyond the control of the Assured, any deviation, forced discharge, reshipment or transhipment and during any variation of the adventure arising from the exercise of a liberty granted to shipowners or charterers under the contract of affreightment.

3. Held covered at a premium to be agreed in case of change of voyage or any omission or error in the description of voyage or any omission or error in the description of the interest vessel or voyage.

4. This insurance is against all risks of loss of or damage to the subject matter insured. Also to include loss of subject matter insured, including loss consequent upon delay, arising from loss of or damage to or latent defect in the hull, machinery and/or equipment of the carrying vessel by a peril covered by the English Marine policy with Institute Time Clauses attached.

5. Claims recoverable hereunder shall be payable in excess of the customary boil-off for a normal voyage as if there had been no loss, damage or delay as a result of an insured peril; and in excess of amount of subject matter retained in tanks to comply with cooling requirements during ballast voyage.

6. No claim for constructive Total Loss shall be recoverable hereunder unless the goods are reasonably abandoned either on account of their actual total loss appearing to be unavoidable or, because the cost of recovering and forwarding the subject matter insured to the destination to which it is insured would exceed its value on arrival.

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