THIS FIRST AMENDMENT AGREEMENT (the Amendment Agreement) is made on 15 September 2010 BETWEEN:
Exhibit 10.19
THIS FIRST AMENDMENT AGREEMENT (the Amendment Agreement) is made on 15 September 2010
BETWEEN:
| (a) | ATT Tanjung Bin Sdn. Bhd. (the Company); and |
| (b) | Vitol Asia Pte Ltd (the Client). |
WITNESSETH:
WHEREAS:
| (i) | The Company and the Client are parties to a term storage agreement dated 15 December 2009, bearing contract reference number 2009-01 (the Storage Contract), pursuant to which the Company is required to provide to the Client storage services for petroleum products at the Tanjung Bin Storage Terminal in Tanjung Bin, Malaysia. |
| (ii) | For good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the Company and the Client now wish to amend the Storage Contract in accordance with this Amendment Agreement. |
NOW THEREFORE it is agreed as follows:
| I. | THE COMPANY AND THE CLIENT AGREE THAT WITH EFFECT FROM THE DATE OF THIS AMENDMENT AGREEMENT, APPENDIX 1.1, 1.2 AND 1.3 OF THE STORAGE CONTRACT SHALL BE DELETED AND REPLACED WITH APPENDIX 1.1, 1.2 AND 1.3 RESPECTIVELY ATTACHED TO THIS AMENDMENT AGREEMENT. |
| II. | SAVE TO THE EXTENT AMENDED BY THIS AMENDMENT AGREEMENT, ALL TERMS AND CONDITIONS OF THE STORAGE CONTRACT REMAIN IN FULL FORCE AND EFFECT. THIS AMENDMENT AGREEMENT MAY BE EXECUTED IN COUNTERPARTS. CLAUSES 20 AND 22 OF THE STORAGE CONTRACT SHALL APPLY MUTATIS MUTANDIS TO THIS AMENDMENT AGREEMENT AS IF REFERENCES THEREIN TO THE “CONTRACT” WERE TO THIS AMENDMENT AGREEMENT. |
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IN WITNESS WHEREOF the Client and the Company have caused this Amendment Agreement to be executed by their duly authorised representatives, as of the date first above written.
| ATT TANJUNG BIN SDN. BHD. | VITOL ASIA PTE LTD | |||
| /s/ Xxxx Xxxxxx |
/s/ Dato’ Kho Xxx Xxxx | |||
| XXXX XXXXXX | DATO’ KHO XXX XXXX | |||
| Director | President | |||
| *** | 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. |
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Appendix 1.1 — Dirty Petroleum Products: Fuel oil/ Crude oil for the low flash tanks
| Tank |
Usable capacity in m3 (GSV at 15 Deg C) |
Contractual capacity (m3) |
Roof Type |
Product | Blending | Min flash |
||||||||||||
| TK |
8,000 | 8,339 | Fixed | Fuel oil | 2 side entry mixer + aircross | 60c | ||||||||||||
| TK |
8,000 | 8,339 | Fixed | Fuel oil | 2 side entry mixer + aircross | 60c | ||||||||||||
| TK |
8,000 | 8,339 | Fixed | Fuel oil | 2 side entry mixer + aircross | 60c | ||||||||||||
| TK |
20,000 | 20,848 | Fixed | Fuel oil | Jet nozzle + aircross | 60c | ||||||||||||
| TK |
20,000 | 20,848 | Inner Floating |
Fuel oil / Crude Oil (incl. low flash) |
Jet nozzle | n.a. | ||||||||||||
| TK |
20,000 | 20,848 | Fixed | Fuel oil | Jet nozzle + aircross | 60c | ||||||||||||
| TK |
30,000 | 31,272 | Fixed | Fuel oil | Jet nozzle + aircross + heating coils (to be confirmed) |
60c | ||||||||||||
| TK |
30,000 | 31,272 | Fixed | Fuel oil | Jet nozzle + aircross | 60c | ||||||||||||
| TK |
30,000 | 31,272 | Inner Floating |
Fuel oil / Crude Oil (incl. low flash) |
Jet nozzle + heating coils (confirmed) |
n.a. | ||||||||||||
| TK |
45,000 | 46,909 | Fixed | Fuel oil | Jet nozzle and aircross | 60c | ||||||||||||
| TK |
45,000 | 46,909 | Fixed | Fuel oil | Jet nozzle and aircross | 60c | ||||||||||||
| TK |
45,000 | 46,909 | Fixed | Fuel oil | Jet nozzle and aircross | 60c | ||||||||||||
Product Acceptance Procedure
On a case by case basis, the Company shall have the right to be informed by the Client on the following specifications of the product to be received:
| • | Flash Point |
| • | H2S |
| • | Viscosity |
| • | Density |
| • | Sulphur content |
| • | Pour point |
The product shall meet all of the following criteria:
| Specification |
Max/Min | Method | ||
| H2S |
Max 200 ppm in the vapour phase* | |||
| Viscosity |
Max 750 CST at 50°C** | |||
| Pour Point |
Min 15°C under cargo temperature | |||
| Flash |
Min 60°C for the tanks indicated in above |
| * | In the event that H2S exceeds 100 ppm in the vapour phase the Company may ask the Client and Ship to take precautions. |
| ** | In case viscosity exceeds 750 CST at 50°C, the Company shall permit this on a case by case basis depending on the operational/blending plan, after taking necessary precautions. |
| *** | 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. |
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If the terminal requests all or any of the abovementioned specifications and is not properly informed by the Client, the Terminal shall have the right to refuse discharge. If product does not meet one or more of these criteria the Company shall have the right to refuse discharge.
Appendix 1.2 — Clean Petroleum Products: Middle Distillates
| Tank |
Usable capacity in m3 (GSV at 15 Deg C) |
Contractual capacity (m3) |
Roof TypeØØ | Product | Blending | Min flash |
Jet filter | |||||||||||||||
| TK 2113 |
6,000 | 6,287 | Floating roof or Fixed roof DD |
Clean petroleum prod |
2 side entry mixers |
35c | Not fitted | |||||||||||||||
| TK 2112 |
6,000 | 6,254 | Floating roof or Fixed roof DD |
Clean petroleum prod |
2 side entry mixers |
35c | Not fitted | |||||||||||||||
| TK 2104 |
16,000 | 16,766 | Floating roof or Fixed roof DD |
Clean petroleum prod |
3 side entry mixers + jet nozzle |
35c | Not fitted | |||||||||||||||
| TK 2110 |
16,000 | 16,677 | Floating roof or Fixed roof DD |
Clean petroleum prod |
3 side entry mixers + jet nozzle |
35c | Not fitted | |||||||||||||||
| TK 2111 |
16,000 | 16,677 | Floating roof or Fixed roof DD |
Clean petroleum prod |
3 side entry mixers + jet nozzle |
35c | Not fitted | |||||||||||||||
| TK 2105 |
20,000 | 20,958 | Floating roof or Fixed roof DD |
Clean petroleum prod |
3 side entry mixers + jet nozzle |
35c | Not fitted | |||||||||||||||
| TK 2106 |
20,000 | 20,958 | Floating roof or Fixed roof DD |
Clean petroleum prod |
3 side entry mixers + jet nozzle |
35c | Not fitted | |||||||||||||||
| TK 2109 |
20,000 | 20,847 | Floating roof or Fixed roof |
Clean petroleum prod |
3 side entry mixers + jet nozzle |
45c | Not fitted | |||||||||||||||
| TK 2107 |
25,000 | 26,197 | Floating roof or Fixed roof DD |
Clean petroleum prod |
3 side entry mixers + jet nozzle |
35c | Not fitted | |||||||||||||||
| TK 2108 |
25,000 | 26,058 | Floating roof or Fixed roof |
Clean petroleum prod |
3 side entry mixers + jet nozzle |
45c | Not fitted | |||||||||||||||
| TK 2103 |
30,000 | 31,437 | Floating roof or Fixed roof DD |
Clean petroleum prod |
3 side entry mixers + jet nozzle |
35c | Not fitted | |||||||||||||||
| ØØ | Floating roof or Fixed roof, as may be permitted by the relevant authorities in Malaysia. |
| DD | Should Fixed roof be used, to cater for vapor loss tank design pressure shall be 15 mbarg / -5 mbarg, with air tight roof, and PV vent pressure set at 9.6 ~ 12 mbarg and Vacuum pressure set at -4 mbarg. |
| *** | 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. |
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Product Acceptance procedure
On a case by case basis, the Company shall have the right to be informed by the Client on the following specifications of the product to be received:
| • | Flash Point |
| • | Density |
| • | Sulphur content |
| • | Pour Point |
| • | Colour |
This product shall meet all of the following criteria:
| Specification |
Max/Min | Method | ||
| Viscosity |
Max 30 CST @ 40°C | |||
| Pour Point |
Min 15°C under cargo temperature |
If the Terminal requests all or any of the abovementioned specifications and is not properly informed by the Client, the Terminal shall have the right to refuse discharge.
Appendix 1.3 — Clean Petroleum Products: Light Distillates
| Tank |
Usable capacity in m3 (GSV at 15 Deg C) |
Contractual capacity (m3) |
Roof |
Product |
Blending |
Min |
D hi-low | |||||||||||
| TK |
5,000 | # | 5,250 | Inner floating | Clean petroleum prod | n.a. | n.a. | 1.5 meters | ||||||||||
| TK |
5,000 | # | 5,250 | Inner floating | Clean petroleum prod | n.a. | n.a. | 1.5 meters | ||||||||||
| TK |
5,000 | #& | 5,250 | Inner floating | Clean petroleum prod | n.a. | n.a. | 1.5 meters | ||||||||||
| TK |
5,000 | #& | 5,250 | Inner floating | Clean petroleum prod | n.a. | n.a. | 1.5 meters | ||||||||||
| TK |
8,000 | 8,401 | Inner floating | Clean petroleum prod | Either 3 side entry mixers or Jet nozzle | n.a. | 1.5 meters | |||||||||||
| TK |
8,000 | 8,401 | Inner floating | Clean petroleum prod | Either 3 side entry mixers or Jet nozzle | n.a. | 1.5 meters | |||||||||||
| TK |
8,000 | 8,401 | Inner floating | Clean petroleum prod | Either 3 side entry mixers or Jet nozzle | n.a. | 1.5 meters | |||||||||||
| TK |
20,000 | 21,003 | Inner floating | Clean petroleum prod | Either 3 side entry mixers or Jet nozzle | n.a. | 1.5 meters | |||||||||||
| TK |
20,000 | 21,003 | Inner floating | Clean petroleum prod | Either 3 side entry mixers or Jet nozzle | n.a. | 1.5 meters | |||||||||||
| *** | 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. |
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| TK |
20,000 | 21,003 | Inner floating | Clean petroleum prod | Either 3 side entry mixers or Jet nozzle | n.a. | 1.5 meters | |||||||||||
| TK |
20,000 | 21,003 | Inner floating | Clean petroleum prod | Either 3 side entry mixers or Jet nozzle | n.a. | 1.5 meters | |||||||||||
| TK |
25,000 | 26,254 | Inner floating | Clean petroleum prod | Either 3 side entry mixers or Jet nozzle | n.a. | 1.5 meters | |||||||||||
| TK |
25,000 | 26,254 | Inner floating | Clean petroleum prod | Either 3 side entry mixers or Jet nozzle | n.a. | 1.5 meters | |||||||||||
| TK |
25,000 | 26,254 | Inner floating | Clean petroleum prod | Either 3 side entry mixers or Jet nozzle | n.a. | 1.5 meters |
| # | Tanks are fitted and suitable for storing 100% MTBE |
| #& | Tanks are fitted and suitable for: a) storing 100% MTBE; and b) maximum 50% Benzene content |
Product Acceptance Procedure
On a case by case basis, the Company shall have the right to be informed by the Client on the following specifications of the product to be received:
| • | Mercaptans |
| • | RVP |
| • | Density |
| • | Benzene content |
The product shall meet all of the following criteria:
| Specification |
Max/Min | Method | ||
| Benzene |
Max 10% volume percentage for all tanks, except those tanks marked #& above. |
|||
| RVP |
Max 14.0 psi | |||
| Mercaptans |
Max 50 ppm* |
| * | In case content exceeds 50ppm allowance may be made up to 200 ppm on a case by case basis, on condition that required precautions, if any, are taken by the Client at the Client’s cost. |
If the Terminal requests all or any of the abovementioned specifications and is not properly informed by the Client, the Terminal shall have the right to refuse discharge. If product does not meet one or more of these criteria, the Company shall have the right to refuse discharge
| *** | 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. |
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