EX-4.33 9 ef20039046_ex4-33.htm EXHIBIT 4.33
Exhibit 4.33

Addendum No.1
Bareboat Charter Party
dated 24th July 2024
(the "Charter")
Between

Synthesea Maritime Co. as Charterers
Onishi Kaiun Co., Ltd. and Ocean West Shipping S.A., as Owners
in respect of the vessel

M/V “Ikan Kerapu” tbr “Synthesea”

It has today been agreed that both the Charterers and the Owners have an option to extend the bareboat-period by 2 years (the "Option Period"). The Charterers need to declare their intention to exercise such option within 56 months after the Charter has commenced. If they do not declare their intention to exercise the option within the period set out above, the Owners may exercise their option to extend the Charter declarable within 57 months after the Charter has commenced. If either party exercises their option to extend the Charter by two (2) years, following terms shall apply:

Charter hire:

During the Option Period, the charterers shall pay Hire as follows.

・6th – 7th year
Fixed Rate: USD136,364 per month; plus
Floating Part: (Margin (2.70%) + 3month CME TERM SOFR) x Loan Outstanding x Number of days/360

Insurance (Clause 42)
 
The Charterers undertake with the Owners that throughout the extended Charter Period to keep the Vessel insured as follows:-

 
(a)
  
(b)
 
Year
  
Minimum Insured Value
 
6
  
USD 10,799,976
 
7
  
USD 8,999,971

Loan Outstanding Table (Clause 45)

(In USD)
6th Year
61th Month
9,818,160
  
7th Year
73th Month
8,181,792
6th Year
62th Month
9,681,796
  
7th Year
74th Month
8,045,428
6th Year
63th Month
9,545,432
  
7th Year
75th Month
7,909,064
6th Year
64th Month
9,409,068
  
7th Year
76th Month
7,772,700
6th Year
65th Month
9,272,704
  
7th Year
77th Month
7,636,336
6th Year
66th Month
9,136,340
  
7th Year
78th Month
7,499,972
6th Year
67th Month
8,999,976
  
7th Year
79th Month
7,363,608
6th Year
68th Month
8,863,612
  
7th Year
80th Month
7,227,244
6th Year
69th Month
8,727,248
  
7th Year
81th Month
7,090,880
6th Year
70th Month
8,590,884
  
7th Year
82th Month
6,954,516
6th Year
71th Month
8,454,520
  
7th Year
83th Month
6,818,152
6th Year
72th Month
8,318,156
7th Year
84th Month
6,681,788
       
Balloon
  
6,545,424

Otherwise, all other terms and conditions of Bareboat Charter Party (the "Charter") dated 24th July 2024 agreed between Synthesea Maritime Co. as charterers and Onishi Kaiun Co., Ltd. and Ocean West Shipping S.A. as owners with its rider clauses and any addendums there to shall remain unaltered and in full force and effect.

 
Onishi Kaiun Co., Ltd.
  
Synthesea Maritime Co.
 
Signature (Owner)
  
Signature (Charterer)
       
 
/s/ Shotaro Onishi
  
/s/ Stavros Gyftakis
       
     
Name: Stavros Gyftakis
 
Name: Shotaro Onishi
  
Title: Director
 
Title: Director
  

 
Ocean West Shipping S.A.
    
 
Signature (Owner)
    
       
 
/s/ Shotaro Onishi
    
 
Name: Shotaro Onishi
    
 
Title: Director/Secretary