Material Agreements and Commitments with Third Parties
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99 This credit facility is secured by, among others, the following:
- First priority mortgage on the following four ships: Motor Tanker Golden Pearl XIV, Motor
Tanker Angelia XVI, Motor Tanker Stephanie XVIII, Motor Tanker Soechi Andindya -
Fiduciary lien on Debtor’s receivablesbills in the form of charter bills of the 4 ships referred to above form 1 month.
- Personal Guarantee from all shareholders
- Corporate Guarantee from PT Sukses Osean Khatulistiwa Line
- Deficit Cash Flow Guarantee from PT Sukses Osean Khatulistiwa Line.
Investment Credit Facility
Deed of Investment Credit Agreement No. 22 dated 27 June 2011 and all amendments thereof, which approved the financing of existing assets in the form of 2 unit tankers, with a total value of
USD 68,000,000,000.00, for a period from 27 June 2011 – 27 June 2017 that is subject to an annual interest of 11 per annum.
This credit facility is secured by, among others, the following: - First Priority Mortgage on two ships owned by APBL as follows: Motor Tanker Andriana XX
and Motor Tanker Soechi Asia XXIX -
Fiduciary lien on trade receivables -
Personal Guarantee from all shareholders -
Corporate Guarantee from PT Sukses Osean Khatulistiwa Line.
Bank Guarantee Facility Deed of Approval of Bank Guarantee Facility No. 23 dated 27 June 2011, which approved a limit
for issuance of Bank Guarantee with a total value of Rp 35,000,000,000.00 for a period between 27 June 2011 – 26 June 2011, secured with cross-collateral on Credit Agreement dated 27 June
2011. Treasury Line Credit Facility
Agreement of Treasury Transaction Services No. 24 dated 27 June, which approved a limit on foreign exchange transactions in relation to business activities with a total value of USD
240,000.00 for a period from 27 June 2011 – 26 June 2015, secured with cross-collateral on Credit Agreement dated 27 June 2011.
Agreement with Unaffiliated Parties ABPL has executed 5 agreements with unaffiliated parties in order to support its business activities. The
agreements are described below:
Vessel Charter Agreement
1. Time Charter Agreement dated 4 September 2014, privately arranged and duly stamped, between
ABPL as Ship Owner and PT Pertamina Persero as Charterer, which stipulates the following provisions:
Objective of the Agreement :
that the Ship Owner charters its Ship to the Charterer;
Charter Object :
MT. ANGELIA XVI; Delivery Time
: Commencing on 21 July 2014 at 08,00 up to the ship
handover on 26 July 2014 at 16.00 Charter Period
: 1 one year commencing on the ship handover, with
an option to extend for 6 six months and an option for an additional period of 6 six months.
2. Time Charter Agreement dated 17 June 2014, privately arranged and duly stamped between ABPL
as the Ship Owner and PT Pertamina Persero as the Charterer, which stipulates the following provisions:
Objective of the Agreement :
that the Ship Owner charters its Ship to the Charterer;
Charter Object :
MT STEPHANIE XVIII Delivery Time
: commencing on 11 May 2014 at 08.00 up to the ship
handover on 13 May 2014 at 16.00
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Charter Period :
1 one year commencing on the ship handover, with an option to extend for 6 six months and an option
for an additional period of 6 six months.
3. Marine Vessel Service Agreement No. CS-16859294 dated 28 August 2014, privately arranged and
duly stamped, between ABPL as the Service Provider and Conoco Philips Grissik Ltd. as Service User, which stipulates the following provisions:
Objective of the Agreement :
that the Service Provider provides tanker provision services to be chartered by the Service User based
on time charter method; Charter Object
: Tanker as a floating storage unit in Bangka Strait;
Period :
28 August 2014 – 27 February 2015 4.
Standard Time Charter – Chartering and Operating Floating Storage Unit dated 23 August 2012, privately arranged and duly stamped between ABPL as the Ship Owner and Camar Resources
Canada Inc. as the Charterer, which stipulates the following provisions:
Objective of the Agreement :
that the Ship Owner charters its ship to the Charterer to be used as a floating storage unit;
Charter Object :
a tanker or trade motor tanker as a floating storage unit;
Period :
3 three years plus 1 one year option plus 1 one year of extension.
5. Time Charter Agreement dated 2 September 2014, privately arranged and duly stamped between
ABPL as the Ship Owner and PT Pertamina Persero as Charterer, which stipulates the following provision:
Objective of the Agreement :
that the Ship Owner charters its ship to the Charterer;
Charter Object :
MT. ANDRIANA XX Delivery Time
: commencing on 27 August 2014 at 08.00 up to the
ship handover on 28 August 2014 at 16.00; Charter Period
: 1 one year plus minus 15 days at Charterer’s
option.