Exhibit 99.2
ADDENDUM No.1
To
MV Navios Uranus
Bareboat Charter Party dated 15th January, 2018
This Addendum, is made and entered into this 15th day of June, 2023 by and between Cloud Atlas Marine S.A. of the Republic of the Marshall Islands (hereinafter called the “Charterers”) and Abo Shoten, Ltd. (70%) of Japan and ASL Ocean Inc. (30%) of the Republic of Marshall Islands (hereinafter collectively called the “Owners”),
WITNESSETH;
WHEREAS, the Charterers and the Owners have entered into a certain bareboat charter party and rider clause dated 15th January, 2018 as amended and/or supplemented or novated from time to time (hereinafter called the “BBCP”) for the bareboat charter of one (1) 81,600 DWT BULK CARRIER named as MV Navios Uranus, and
WHEREAS, the Financial Conduct Authority (FCA) responsible for supervising LIBOR has announced on 5th March, 2021 that the publication of USD LIBOR will cease, and 1 month ICE LIBOR will cease to be published on 30th June 2023, and
WHEREAS, due to the upcoming cessation of USD LIBOR publication, the Charterers and the Owners desire to agree to change interest rate of the BBCP from “1 month ICE LIBOR” to “1 month CME TERM SOFR + 0.11448%” plus applicable spread, if any.
NOW THEREFORE, notwithstanding anything contained in the BBCP, it is mutually agreed and confirmed by the parties hereto that:
1. | Box 24. shall be amended as per following. |
24. Rate of interest payable acc. To Cl.11 (f) and, if applicable, acc. to PART IV
1M CME TERM SOFR plus 2.11448%
2. | Clause 36(1) II. shall be amended as per following. |
36. HIRES AND EXTRA PAYMENTS
(1) Monthly Hire
II. Monthly Variable hire is calculated from the number of the days in any relevant month and daily variable hire in accordance with the following formula:
Monthly Variable Hire = Daily Variable Hire x the number of the days in the relevant month.
Daily Variable Hire = Charter Principal Balance x (2.51448% + one (1) month CME TERM SOFR as applicable for the month in respect of which such Daily Variable Hire is to be calculated) / 360 An applicable one (1) month CME TERM SOFR shall be one month TERM SOFR published by Chicago Mercantile Exchange (CME) on five (5) Banking Days prior to the first day of the relevant month.