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Date: 3rd May 2015


To: The End Buyer

Sub: KUWAIT D2 (100,000 to 200,000 MT/MONTH)

We, -------------- (Sellers’ Mandate/Representative), hereby state and represent that we are ready, willing and able to sell and deliver the following unencumbered product, as below:

COMMODITY

:

D2 oil.

ORIGIN

:

Kuwait

SPECIFICATION

:

Appendix A

QUANTITY

:

100,000 to 200,000 MT (+/-10%) at seller’s option

PRICE

:

AG Platt Flat

DELIVERY

:

Fujairah / UAE

DEMURRAGE & PENALTY

:

As per chartered vessel or Rented Tank in case of failure to lift or transfer the cargo within the given schedule as implied in SPA

PAYMENT : LC/MT 103 as implied in SPA

PROCEDURE :
TERMS & TRANSACTION PROCEDURES SUBJECTED TO AFFIRMATIVE VERIFICATION OF END BUYERS’ PROFILE AND FINACIAL CAPABILITY FOR TRAIL LIFT, ANY FURTHER ROLL WILL BE EXECUTED AS PER TERMS AND CONDITION ENCLOSED IN SPA

1. Sellers Issue SPA to Buyers

2. Buyers Sign and return the SPA to Sellers

3. Sellers issue CI and DTA with full Tank Details to Buyers. Buyers nominate mutually approved third party to conduct the DIP Test at their own cost and issue the Q & Q Result to sellers along with the Q-88 of their nominated Tanker for suitability qualification

4. Sellers issue final Commercial Invoice to Buyers

5. Upon final conforming report of DIP Test, Buyers pay the full payment of the contract by MT-103 within 24 hours

6. Sellers simultaneously transfer the title of ownership to Buyers and Buyers will arrange to lift their cargo maximum within 24 Hours

Appendix A

KUWAIT ORIGIN GASOIL SPECIFICATIONS

TEST

METHOD

UNIT

RESULT

Acid Number Strong

MSTM D 974

mgkoH/g

NII

Total Acidity

=

=

0.06

Ash Content

MSTM D 482

%wt

<0.01

Cetane Index

MSTM D 976

=

48

Colour

MSTM D 1500

=

2

Copper Corrosion 3hrs@100

MSTM D 130

=

1a

Distillation:

MSTM D 86

=

=

I8P

MSTM D 86

°C

178.5

F8P

MSTM D 86

°C

387.1

Sulphur

=

%wt

0.02-0,05

Flash point

MSTM D 93A

°C

60

Pour Point

MSTM D 97

°C


- 9

Specific Gravity @60/60°F

MSTM 4052

=

0.82-0.87




Thank you in advance for your consideration.

Sincerely Yours