1.

Shipbroker BIMCO UNIFORM TIME-CHARTER

(AS REVISED 2001)
CODE NAME: “BALTIME 1939”
PART I
2. Place and Date of Charter
Issued 1909;
Amended 1911;
1912; 1920;
1920; 1939;
3. Owners/Place of business 4. Charterers/Place of business
1950; 1974; and
2001

5. Vessel’s Name 6. GT/NT

7. Class 8. Indicated brake horse power (bhp)

9. Total tons d.w. (abt.) on summer freeboard 10. Cubic feet grain/bale capacity

11. Permanent bunkers (abt.) 12. Speed capability in knots (abt.) on a consumption in tons (abt.) of

13. Present position 14. Period of hire (Cl. 1)

15. Port of delivery (Cl. 1) 16. Time of delivery (Cl. 1)

17. (a) Trade limits (Cl. 2)

(b) Cargo exclusions specially agreed

18. Bunkers on re-delivery (state min. and max. quantity)(Cl. 5) 19. Charter hire (Cl. 6)

20. Hire payment (state currency, method and place of payment; also beneficiary and bank account) (Cl. 6)

21. Place or range of re-delivery (Cl. 7) 22. Cancelling date (Cl. 21)

23.published
Copyright, Dispute resolution (state 22(A), 22(B) or 22(C); if 22(C) agreed Place of 24. Brokerage commission and to whom payable (Cl. 24)
Arbitration
byThe Baltic and must be stated) (Cl. 22)
International
Maritime Council
(BIMCO),
Copenhagen
25. Numbers of additional clauses covering special provisions, if agreed

It is mutually agreed that this Contract shall be performed subject to the conditions contained in this Charter which shall include PART I as well as PART II. In the event
of a conflict of conditions, the provisions of PART I shall prevail over those of PART II to the extent of such conflict.

Signature (Owners) Signature (Charterers)

Printed and sold by Fr. G. Knudtzons Bogtrykkeri A/S, Vallensbaekvej 61,

DK-2625 Vallensbaek, Fax: +45 4366 0701
 PART II
“BALTIME 1939” Uniform Time-Charter (as revised 2001)

It is agreed between the party mentioned in Box 3 as Owners 1and discharging and any special gear, including special 67
of the Vessel named in Box 5 of the gross/net tonnage 2ropes and chains required by the custom of the port for 68
indicated in Box 6, classed as stated in Box 7 and of indicated 3mooring shall be for the Charterers account. The Vessel 69
brake horse power (bhp) as stated in Box 8, carrying about 4shall be fitted with winches, derricks, wheels and or- 70
the number of tons deadweight indicated in Box 9 on 5dinary runners capable of handling lifts up to 2 tons. 71
summer freeboard inclusive of bunkers, stores and 6
provisions, having as per builder s plan a cubic-feet grain/ 7 5. Bunkers
bale capacity as stated in Box 10, exclusive of permanent 8The Charterers at port of delivery and the Owners at port 72
bunkers, which contain about the number of tons stated in 9of re-delivery shall take over and pay for all fuel oil 73
Box 11, and fully loaded capable of steaming about the 10remaining in the Vessel s bunkers at current price at the 74
number of knots indicated in Box 12 in good weather and 11respective ports. The Vessel shall be re-delivered with 75
smooth water on a consumption of about the number of 12not less than the number of tons and not exceeding the 76
tons fuel oil stated in Box 12, now in position as stated in 13number of tons of fuel oil in the Vessel s bunkers stated 77
Box 13 and the party mentioned as Charterers in Box 4, as 14in Box 18. 78
follows: 15 79
6. Hire
16The Charterers shall pay as hire the rate stated in Box
1719 per 30 days, commencing in accordance with Clause
181 until her re-delivery to the Owners. 80
1. Period/Port of Delivery/Time of Delivery 19Payment of hire shall be made in cash, in the currency 81
The Owners let, and the Charterers hire the Vessel for a 20stated in Box 20, without discount, every 30 days, in 82
period of the number of calendar months indicated in 21advance, and in the manner prescribed in Box 20. In 83
Box 14 from the time (not a Sunday or a legal Holiday 22default of payment the Owners shall have the right of 84
unless taken over) the Vessel is delivered and placed at 23withdrawing the Vessel from the service of the Charterers, 85
the disposal of the Charterers between 9 a.m. and 6 24without noting any protest and without interference by 86
p.m., or between 9 a.m. and 2 p.m. if on Saturday, at the 25any court or any other formality whatsoever and without 87
port stated in Box 15 in such available berth where she 26prejudice to any claim the Owners may otherwise have 88
can safely lie always afloat, as the Charterers may direct, 27on the Charterers under the Charter. 89
the Vessel being in every way fitted for ordinary cargo 90
service. The Vessel shall be delivered at the time 91
indicated in Box 16. 92

2. Trade 28 7. Re-delivery 93
The Vessel shall be employed in lawful trades for the 29The Vessel shall be re-delivered on the expiration of the 94
carriage of lawful merchandise only between safe ports 30Charter in the same good order as when delivered to 95
or places where the Vessel can safely lie always afloat 31the Charterers (fair wear and tear excepted) at an ice- 96
within the limits stated in Box 17. No live stock nor 32free port in the Charterers option at the place or within 97
injurious, inflammable or dangerous goods (such as 33the range stated in Box 21, between 9 a.m. and 6 p.m., 98
acids, explosives, calcium carbide, ferro silicon, 34and 9 a.m. and 2 p.m. on Saturday, but the day of re- 99
naphtha, motor spirit, tar, or any of their products) shall 35delivery shall not be a Sunday or legal Holiday. 100
be shipped. 36The Charterers shall give the Owners not less than ten 101
days notice at which port and on about which day the 102
37Vessel will be re-delivered. Should the Vessel be ordered 103
38on a voyage by which the Charter period will be exceeded 104
3. Owners’ Obligations 39the Charterers shall have the use of the Vessel to enable 105
The Owners shall provide and pay for all provisions and 40them to complete the voyage, provided it could be 106
wages, for insurance of the Vessel, for all deck and 41reasonably calculated that the voyage would allow 107
engine-room stores and maintain her in a thoroughly 42redelivery about the time fixed for the termination of the 108
efficient state in hull and machinery during service. The 43Charter, but for any time exceeding the termination date 109
Owners shall provide winchmen from the crew to 44the Charterers shall pay the market rate if higher than 110
operate the Vessel s cargo handling gear, unless the 45the rate stipulated herein. 111
crew s employment conditions or local union or port 46
regulations prohibit this, in which case qualified shore- 47 8. Cargo Space
winchmen shall be provided and paid for by the The whole reach and burthen of the Vessel, including
Charterers. 48lawful deck-capacity shall be at the Charterers disposal,
49reserving proper and sufficient space for the Vessel s
50Master, officers, crew, tackle, apparel, furniture, 112
51provisions and stores. 113
4. Charterers’ Obligations 52 114
The Charterers shall provide and pay for all fuel oil, port 53 9. Master 115
54The Master shall prosecute all voyages with the utmost 116
charges, pilotages (whether compulsory or not), canal
55despatch and shall render customary assistance with 117
steersmen, boatage, lights, tug-assistance, consular
charges (except those pertaining to the Master, officers 56the Vessel s crew. The Master shall be under the orders
and crew), canal, dock and other dues and charges, 57of the Charterers as regards employment, agency, or
including any foreign general municipality or state taxes, 58other arrangements. The Charterers shall indemnify the 118
also all dock, harbour and tonnage dues at the ports of 59Owners against all consequences or liabilities arising 119
delivery and re-delivery (unless incurred through cargo 60from the Master, officers or Agents signing Bills of Lading 120
carried before delivery or after re-delivery), agencies, 61or other documents or otherwise complying with such 121
commissions, also shall arrange and pay for loading, 62orders, as well as from any irregularity in the Vessel s 122
trimming, stowing (including dunnage and shifting 63papers or for overcarrying goods. The Owners shall not 123
boards, excepting any already on board), unloading, 64be responsible for shortage, mixture, marks, nor for 124
weighing, tallying and delivery of cargoes, surveys on 65number of pieces or packages, nor for damage to or 125
hatches, meals supplied to officials and men in their 66claims on cargo caused by bad stowage or otherwise. If 126
service and all other charges and expenses whatsoever 127
including detention and expenses through quarantine 128
(including cost of fumigation and disinfection). All ropes, 129
slings and special runners actually used for loading 130
131
 PART II
“BALTIME 1939” Uniform Time-Charter (as revised 2001)

the Charterers have reason to be dissatisfied with the 132 able on account of ice to reach the place or to get out 198
conduct of the Master or any officer, the Owners, on 133 after having completed loading or discharging. The 199
receiving particulars of the complaint, promptly to 134 Vessel shall not be obliged to force ice. If on account of 200
investigate the matter, and, if necessary and practicable, 135 ice the Master considers it dangerous to remain at the 201
to make a change in the appointments. 136 loading or discharging place for fear of the Vessel being 202
frozen in and/or damaged, he has liberty to sail to a 203
convenient open place and await the Charterers fresh 204
10. Directions and Logs 137 instructions. Unforeseen detention through any of above 205
The Charterers shall furnish the Master with all 138 causes shall be for the Charterers account. 206
instructions and sailing directions and the Master shall 139
keep full and correct logs accessible to the Charterers 140
or their Agents. 141 15. Loss of Vessel
Should the Vessel be lost or missing, hire shall cease 207
from the date when she was lost. If the date of loss142 208
11. Suspension of Hire etc. cannot be ascertained half hire shall be paid from the143 209
(A) In the event of drydocking or other necessary date the Vessel was last reported until the calculated144 210
date of arrival at the destination. Any hire paid in advance145 211
measures to maintain the efficiency of the Vessel,
shall be adjusted accordingly.146 212
deficiency of men or Owners stores, breakdown of
147 213
machinery, damage to hull or other accident, either
hindering or preventing the working of the Vessel and 148 16. Overtime
continuing for more than twenty-four consecutive hours, The Vessel shall work day and night if required. The149
no hire shall be paid in respect of any time lost thereby Charterers shall refund the Owners their outlays for all150 214
during the period in which the Vessel is unable to perform overtime paid to officers and crew according to the hours151 215
the service immediately required. Any hire paid in and rates stated in the Vessel s articles.152 216
advance shall be adjusted accordingly. 153 217
(B) In the event of the Vessel being driven into port or to 154 17. Lien 218
anchorage through stress of weather, trading to shallow The Owners shall have a lien upon all cargoes and155
harbours or to rivers or ports with bars or suffering an sub-freights belonging to the Time-Charterers and any156
accident to her cargo, any detention of the Vessel and/or Bill of Lading freight for all claims under this Charter,157
219
expenses resulting from such detention shall be for the and the Charterers shall have a lien on the Vessel for all158
220
Charterers account even if such detention and/or moneys paid in advance and not earned.159
221
expenses, or the cause by reason of which either is 160
222
incurred, be due to, or be contributed to by, the 161 18.Salvage
223
negligence of the Owners servants. All salvage and assistance to other vessels shall be for
224
the Owners and the Charterers equal benefit after162
deducting the Master s, officers and crew s proportion163
and all legal and other expenses including hire paid164
under the charter for time lost in the salvage, also repairs165 225
of damage and fuel oil consumed. The Charterers shall166 226
12. Responsibility and Exemption be bound by all measures taken by the Owners in order167 227
The Owners only shall be responsible for delay in to secure payment of salvage and to fix its amount.168 228
169 229
delivery of the Vessel or for delay during the currency of
170 19. Sublet 230
the Charter and for loss or damage to goods onboard, if
The Charterers shall have the option of subletting the171 231
such delay or loss has been caused by want of due
Vessel, giving due notice to the Owners, but the original172 232
diligence on the part of the Owners or their Manager in
Charterers shall always remain responsible to the173 233
making the Vessel seaworthy and fitted for the voyage
or any other personal act or omission or default of the Owners for due performance of the Charter.174
Owners or their Manager. The Owners shall not be 175
responsible in any other case nor for damage or delay 176 20. War (“Conwartime 1993”)
whatsoever and howsoever caused even if caused by (A) For the purpose of this Clause, the words:177 234
the neglect or default of their servants. The Owners shall (i) Owners shall include the shipowners, bareboat178 235
not be liable for loss or damage arising or resulting charterers, disponent owners, managers or other179 236
from strikes, lock-outs or stoppage or restraint of labour operators who are charged with the management of the180 237
(including the Master, officers or crew) whether partial Vessel, and the Master; and181 238
or general. The Charterers shall be responsible for loss (ii) War Risks shall include any war (whether actual or182
or damage caused to the Vessel or to the Owners by threatened), act of war, civil war, hostilities, revolution,
goods being loaded contrary to the terms of the Charter rebellion, civil commotion, warlike operations, the laying183 239
or by improper or careless bunkering or loading, stowing of mines (whether actual or reported), acts of piracy,184 240
or discharging of goods or any other improper or acts of terrorists, acts of hostility or malicious damage,185 241
negligent act on their part or that of their servants. blockades (whether imposed against all vessels or186 242
imposed selectively against vessels of certain flags or187 243
ownership, or against certain cargoes or crews or188 244
otherwise howsoever), by any person, body, terrorist or 245
political group, or the Government of any state189 246
whatsoever, which, in the reasonable judgement of the190 247
Master and/or the Owners, may be dangerous or are191 248
13. Advances 249
likely to be or to become dangerous to the Vessel, her192
The Charterers or their Agents shall advance to the cargo, crew or other persons on board the Vessel.193 250
Master, if required, necessary funds for ordinary (B) The Vessel, unless the written consent of the Owners194 251
disbursements for the Vessel s account at any port be first obtained, shall not be ordered to or required to195 252
charging only interest at 6 per cent. p.a., such advances continue to or through, any port, place, area or zone196 253
shall be deducted from hire. (whether of land or sea), or any waterway or canal, where197 254
255
256
14. Excluded Ports 257
The Vessel shall not be ordered to nor bound to enter: 258
(A) any place where fever or epidemics are prevalent or 259
to which the Master, officers and crew by law are not 260
bound to follow the Vessel; 261
(B) any ice-bound place or any place where lights, 262
lightships, marks and buoys are or are likely to be
withdrawn by reason of ice on the Vessel s arrival or
where there is risk that ordinarily the Vessel will not be
 PARTPART
II II
“BALTIME
“BALTIME
1939”1939”
Uniform
Uniform
Time-Charter
Time-Charter
(as revised
(as revised
2001)2001)

In cases where
it appears neither
thatthe theclaim
Vessel,norheranycargo,counterclaim
crew or other 403necessary
263 toorprotect
more of itsthem,
interest. they shall immediately inform the 445
334
exceeds the sum of
persons onUS$50,000 (or suchinother
board the Vessel, sum as
the reasonable 404(v)264
Either party may advise
Charterers. the Tribunal
No cargo shall be that they haveat any
discharged 446
335
the parties may agree)
judgement the Master
of the arbitrationand/orshallthe beOwners,
conducted may be, or 265 to mediation.
405agreed alternative port
The without first
arbitration giving the
procedure shallCharterers notice 447
336
in accordance withto
are likely the be,Shortened
exposed Arbitration
to War Risks. Procedure
Should the Vessel 266 during
406continue of thetheOwners
conductintention to do so and
of the mediation but therequesting them 448
337
of the Society of Maritime
be within any such Arbitrators, Inc. currentwhich
place as aforesaid, at theonly 267 maytotake
407Tribunal nominate a safe port
the mediation for such
timetable discharge.
into account Failing such 449
338
time whenbecomes
the arbitration
dangerous, proceedings
or is likelyareto commenced.
be or to become 408when268settingnomination
the timetable by for
thesteps
Charterers
in the within 48 hours of the
arbitration. 450
339
*) (C) This dangerous,
Charter shallafter be governed
her entry into by and it, sheconstrued
shall beinat liberty 409(vi)269 receipt of such
Unless otherwise agreed notice and request,
or specified in thethe Owners may 451
340
accordance to leave
with theit. laws of the place mutually agreed 270
410mediation discharge
terms, each theparty cargo
shallatbearanyitssafe
own port of their own choice.
costs 452
341
(C) The
by the parties andVessel
any disputeshall not be required
arising out of orto in load contraband 271 in the
411incurred (H)mediation
If in compliance
and thewith anyshall
parties of the provisions of sub-
share 453
342
connection with or
cargo, thistoCharter shall be
pass through referred
any blockade, to whether such 272 the mediator
412equally clauses (B) to (G)
s costs and of expenses.
this Clause anything is done or not 454
343
arbitrationblockade
at a mutually
be imposedagreed on place, subject or
all vessels, to istheimposed 273
413(vii) done, such
The mediation shallshall
process not be bedeemed a deviation, but shall
without prejudice 455
344
procedures applicable
selectively there.
in any way whatsoever against vessels of 414and274 be considered
confidential as due fulfilment
and no information or documents of this Charter. 456
345
(D) Notwithstanding
certain flags(A), (B) or (C) above,
or ownership, or against the parties
certain cargoes 275 during it shall be revealed to the Tribunal
415disclosed 457
may agree oratcrews or otherwise
any time to refer to howsoever,
mediation or any todifference
proceed to an 276 to the extent that they are disclosable under the
416except 458
area where
and/or dispute arisingshe outshall
of or be subject, or is
in connection withlikely
thisto be subject 417law277
and procedure governing the arbitration. 459
Charter. to a belligerent s right of search and/or confiscation. 278 The parties should be aware that the mediation
418(Note: 460
In the case (D)of(i) The Owners
a dispute may effect
in respect of which wararbitration
risks insurance in 279 21.
419process
Cancelling
may not necessarily interrupt time limits.)
346
461
Should the Vessel not be delivered by the date indicated 347
462
has beenrespect
commenced of theunder
Hull and (A),Machinery
(B) or (C) of above, the and their
the Vessel 420(E)280
If Box 23 in Part I is not appropriately filled in, sub-
following other
shall apply:- 281 (A) in Box 22, the Charterers shall have the option of 348
463
interests (including, but not limited to, loss of 421clause of this Clause shall apply. Sub-clause (D)
(i) Either earnings
party mayand at any time and 282 cancelling. If the Vessel cannot be delivered by the 349
464
detention, thefrom
crewtime andto timeProtection
their 422shall apply in all cases.
cancelling date, the Charterers, if required, shall declare 350
465
and the
elect to refer Indemnity
disputeRisks),or part and
of the thedispute
premiums to and/or calls 423 *) 283
(A), (B) and (C) are alternatives; indicate alternative
284 within 48 hours after receiving notice thereof whether 351
466
mediationtherefor
by service shallonbethe forother
their party
account. of a written notice 424agreed in Box 23.
they cancel or will take delivery of the Vessel. 352
(ii) If the
(the Mediation NoticeUnderwriters
) calling onofthe suchotherinsurance
party toshould
agree require 425 285
to mediation.
payment of premiums and/or calls because, pursuant 426 23.286General Average
(ii) The other
to theparty shall thereupon
Charterers orders, the within
Vessel 14 calendar
is within, or is due 287 Average shall be settled according to York/
427General
to enter
days of receipt of and remain within,
the Mediation Notice anyconfirm
area orthat areastheywhich are 288 22.
428Antwerp Rules, 1994 and
Dispute any subsequent modification
Resolution 353
specified by
agree to mediation, insuch
whichUnderwriters
case the parties as being shallsubject to 289 *)
429thereof. Hire
(A)shall
Thisnot contribute
Charter shall to beGeneral
governed Average.
by and construed in 354
thereafteradditional premiums
agree a mediator because
within a furtherof War 14 Risks,
calendar then such 430 290 accordance with English law and any dispute arising 355
467
premiums
days, failing which on and/or calls shall be
the application reimbursed
of either party aby the 291
431 24. Commission
out of or in connection with this Charter shall be referred 356
468
mediator Charterers
will be appointed to the Owners
promptlyatbythe thesame time as the next
Arbitration 432The292Owners to shall pay a in
arbitration commission at the rate stated
London in accordance with the Arbitration 357
469
Tribunal (payment
the Tribunalof hire ) orissuch
due.person as the Tribunal 293 24 to
433in Box the1996
Act partyormentioned
any statutory in Box 24 on anyorhire
modification re-enactment 358
294 470
(E) If the
may designate Owners
for that become
purpose. Theliable
mediation undershall the terms of 434paid underthereof
the Charter,
save tobutthein no casenecessary
extent less than to is give effect to the 359
be conducted in such place
employment to payand in accordance
to the crew any bonus with or such
additional 295
435necessary to cover the
provisions ofactual expenses of the Brokers
this Clause. 360
procedurewages and on in such
respect terms as the into
of sailing partiesan areamay whichagree is 436and296a reasonable fee for their
The arbitration shallwork. If the full hire
be conducted is not
in accordance with 361
471
or, in the dangerous
event of disagreement,
in the manner asdefined
may beby setthebysaid
the terms, 297
437paid owingthe to breach
LondonofMaritime
Charter Arbitrators
by either ofAssociation
the parties (LMAA) 362
472
mediator.then such bonus or additional wages shall be re- 438the298
party liable
Terms therefor
currentshall
at theindemnify
time when the the
Brokers
arbitration 363
473
(iii) If theimbursed
other party to does not agree
the Owners to mediate,
by the Charterers thatatfact
the same 299 their
439against loss of commission.
proceedings are commenced. Should the parties 364
300to cancel 474
time astothe
may be brought thenext payment
attention of theof hire
Tribunalis due.and may 440agree the Charter,
The reference shallthebeOwners
to threeshall indemnify
arbitrators. A party 365
475
be taken (F)into The Vessel
account by shall have liberty:-
the Tribunal when allocating 441the301
Brokerswishing
againsttoany loss
refer of commission
a dispute but in shall
to arbitration suchappoint its 366
476
the costs (i)of the arbitration
to comply withas all between the parties.
orders, directions, recom- 302
442case the commission
arbitrator and notsend
to exceed
noticethe brokerage
of such on
appointment in writing 367
477
(iv) The mediation
mendations shall not affect
or advice as to thedeparture,
right of either arrival,party
routes, 443one303year s tohire.
the other party requiring the other party to appoint its 368
478
to seek such relief
sailing or take such
in convoy, portssteps
of call,asstoppages,
it considersdestinations, 444 304 own arbitrator within 14 calendar days of that notice and 369
479
discharge of cargo, delivery, or in any other way 305 stating that it will appoint its arbitrator as sole arbitrator 370
306 480
whatsoever, which are given by the Government of the unless the other party appoints its own arbitrator and 371
307 481
Nation under whose flag the Vessel sails, or other gives notice that it has done so within the 14 days 372
308 482
Government to whose laws the Owners are subject, or specified. If the other party does not appoint its own 373
309 483
any other Government, body or group whatsoever acting arbitrator and give notice that it has done so within the 374
with the power to compel compliance with their orders 310 14 days specified, the party referring a dispute to 375
or directions; 311 arbitration may, without the requirement of any further 376
(ii) to comply with the order, directions or recom- 312 prior notice to the other party, appoint its arbitrator as 377
mendations of any war risks underwriters who have the 313 sole arbitrator and shall advise the other party 378
authority to give the same under the terms of the war 314 accordingly. The award of a sole arbitrator shall be 379
risks insurance; 315 binding on both parties as if he had been appointed by 380
(iii) to comply with the terms of any resolution of the 316 agreement. 381
Security Council of the United Nations, any directives of 317 Nothing herein shall prevent the parties agreeing in 382
the European Community, the effective orders of any 318 writing to vary these provisions to provide for the 383
other Supranational body which has the right to issue 319 appointment of a sole arbitrator. 384
and give the same, and with national laws aimed at 320 In cases where neither the claim nor any counterclaim 385
enforcing the same to which the Owners are subject, 321 exceeds the sum of US$50,000 (or such other sum as 386
and to obey the orders and directions of those who are 322 the parties may agree) the arbitration shall be conducted 387
charged with their enforcement; 323 in accordance with the LMAA Small Claims Procedure 388
(iv) to divert and discharge at any other port any cargo or 324 current at the time when the arbitration proceedings are 389
part thereof which may render the Vessel liable to 325 commenced. 390
confiscation as a contraband carrier; 326 *) (B) This Charter shall be governed by and construed in 391
(v) to divert and call at any other port to change the crew 327 accordance with Title 9 of the United States Code and 392
or any part thereof or other persons on board the Vessel 328 the Maritime Law of the United States and any dispute 393
when there is reason to believe that they may be subject 329 arising out of or in connection with this Contract shall 394
to internment, imprisonment or other sanctions. 330 be referred to three persons at New York, one to be 395
(G) If in accordance with their rights under the foregoing 331 appointed by each of the parties hereto, and the third by 396
provisions of this Clause, the Owners shall refuse to 332 the two so chosen; their decision or that of any two of 397
proceed to the loading or discharging ports, or any one 333 them shall be final, and for the purposes of enforcing 398
any award, judgement may be entered on an award by 399
any court of competent jurisdiction. The proceedings 400
shall be conducted in accordance with the rules of the 401
Society of Maritime Arbitrators, Inc. 402