Term Storage Agreement (2015)Full Document 

Start of Preview

Term Storage Agreement Between

Euro Tank Terminal B.V. and Vitol S.A. ("Agreement")

1. Agreement number

No.: VITOLFO-ETT-2014-01
Effective Date: 1 October 2014

2. This Agreement is made by and between

Euro Tank Terminal B.V. a private company with limited liability (besloten vennootschap met beperkte aansprakelijkheid) incorporated in the Netherlands and having its registered office at Moezelweg 151, 3198 LS, Rotterdam, the Netherlands {the "Company");

and

Vitol S.A. a private company with limited liability, incorporated in Switzerland and having its registered office at Boulevard du Pont-d’Arve 28, 1211 Geneva 4, Switzerland (the "Client").

The Client and the Company may be referred to herein individually as a "Party" and collectively as the "Parties".

Whereas

a. The Company owns and operates the Terminal and is able to provide storage, handling and other terminal services at the Terminal;

b. The Client wishes to store its products at the Terminal and receive certain services and access to specific infrastructure at the given capacities;

c. The Parties intend to set forth the terms and conditions for the services in this Agreement.

NOW, THEREFORE, in consideration of the mutual promises herein contained, Parties agree as follows:

3. Storage Location

The terminal is located in the Port of Rotterdam with harbor no. 5610 and registered address at van Moezelweg 151, 3198 LS Rotterdam, the Netherlands ("Terminal").

4. Storage Period:

Duration: 3 years
Start Date: 1 October 2014
End Date: 30 September 2017

*** Certain information in this document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions.


4.1 This Agreement shall enter into force on the Start Date as mentioned above and shall continue for a duration of three (3) years until the End Date as mentioned above.

At the expiry of this period the Client shall have first right to the contracted capacity. Six (6) months prior to expiry both Parties shall negotiate the terms and conditions for a contract renewal for a period to be mutually agreed upon. The agreement for a contract renewal needs to be reached at least three (3) months prior to the end of the contract.

5. Product

5.1 Parties agree to handle fuel oil. The Client shall provide the Company with the (M)SDS, REACH number and the products specifications as stipulated in Appendix 2 and Clause 10, prior to the each delivery to the Terminal. The Products will be delivered into parcels of minimum 1000 Mt each.

5.2 Client ensures to comply with the provisions of the European Regulation number 1907/2006 of 18 December 2006, as amended from time to time with regards to the Registration, Evaluation, Authorisation and Restriction of Chemical substances ("REACH Regulation") and shall provide the Company with the necessary information related to such compliance and the Product

6. Contractual Capacity

The Company shall provide to the Client a total storage capacity of 225.148 m3 in the following dedicated storage tanks ("Contractual Capacity").

Products will be stored on a dedicated basis.

Tank

Contractual

Capacity (m3)

Net capacity

(m3)

Roof Type

Product

Min flash

TK 01

1.076 3.969 Fixed FO >55

TK 02

4.082 3.974 Fixed FO >55

TK 03

14.880 14.547 Fixed FO >55

TK 04

14.870 14.535 Fixed FO >55

TK 05

62.340 61.539 Fixed FO >55

TK 06

62.430 61.697 Fixed FO >55

TK 07

62.470 61.703 Fixed FO >55

The tanks are Class 3, meaning suitable for handling of a product with a flashpoint >55°c and designed for a maximum temperature of 80 Celsius Degrees ("°c").

7. Means of Delivery

Receipt of Product:

Re-delivery of Product: into seagoing vessel, barge or pumping over

*** Certain information in this document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions.


8. Rates (expressed in Euro)

payable in respect of Contractual Capacity and from Start Date.

End of Preview
a. Tank rental rate € [***]
Charged per cubic meter ("m3") of contractual capacity per month or part thereof Tank rental rate includes: