Tanker Vetting and Risk Assessment Policy

Risk Assessment and acceptance of tankers for Logitech Global Ltd business was made based on the following principles:

Tankers with the age 0-10 years:

Risk assessment can be carried out on the base of vessel’s SIRE Inspection Report within 6- month validity from the date of inspection. In case of risk assessment based on other than Logitech Global Ltd oil majors SIRE inspection reports, vessel could be accepted for terminal entrance for 6 months period counting from the date of last SIRE inspection. In case of risk assessment based on Logitech Global Ltd SIRE inspection report, vessel can be accepted for terminal entrance for 12-24 months period.

Tankers with the age 10-20 years:

Risk assessment must be carried out on the basis of Logitech Global Ltd SIRE Inspection only.

Validity of acceptance up to maximum 12 months.

Tankers with the age 20-25 years

Risk assessment must be carried out on the base of Logitech Global Ltd SIRE Inspection only.

Validity of acceptance up to maximum 6 months.

Tankers with the age over 25 years:

Not acceptable for entrance.

All combination carriers with age more than 15 years:

Not acceptable for entrance.

Minimum CAP rating 2 for hull required for the vessels with the age over 15 years and DWT over 20 000 tons.

For all vessels at least one Logitech Global Ltd SIRE inspection is required within the period of the last 5 years.

LOGITECH GLOBAL LTD RESERVES THE RIGHT TO REJECT ANY NOMINATED VESSEL EVEN IF IT HAS JUSTIFIABLE GROUNDS TO DO SO.