【Bidding】Announcement of Hull No. NSZ0524-14

Entrusted by the transferor (the Sellers), we have issued the Bidding Announcement, Special Provisions and related content of NSZ0524-14 on October 14th, 2024.

1) Ship Warranty：

According to the Shipbuilding Contract signed between the Sellers and the shipyard, the ship is entitled to a one-year warranty period upon completion and delivery. On the day of delivery, the Sellers shall notify the shipyard in writing and unconditionally transfer to the Buyers all their rights, title, liability, benefit and interests of every kind which they now or at any later time have under, in or in connection with, or in relation to any matter arising out of or in connection with, the Builder's Warranty under the Shipbuilding Contract. The period and specific scope of ship warranty will be consistent with the Shipbuilding Contract and be executed as stipulated in  ARTICLE IX WARRANTY OF QUALITY under the Shipbuilding Contract.

2) Sellers' default: 

If the Sellers anticipate that the Vessel will fail to be ready to deliver by the Last Delivery Date (January 29th, 2026). The Sellers have the right to extend the Last Delivery Date for once, but not later than February 28th, 2026.

The Buyers shall take the Vessel with demurrage of US$3000.00 per calendar day from January 30th, 2026 to the final delivery date, which shall be deducted from the balance Purchase Price on the delivery date.

Should the Sellers fail to deliver the Vessel before February 28th, 2026, the Buyers shall have the option of:

a) Cancelling this MOA, the Purchase Price and all other sums (if any) paid by the Buyers shall be returned to the Buyers' bank account immediately, and the Sellers shall pay 10% of the Purchase Price as compensation within Ten (10) banking days after the Buyers tender written notice of cancellation option; 

b) Accepting the new Last Delivery Date, the Buyers shall take the Vessel with demurrage of US$3000.00 per calendar day from January 30th, 2026 to the final delivery date, which shall be deducted from the balance Purchase Price on the delivery date. 

3) Buyers' default: 

Should the Deposit not be paid or lodged fully by the Buyers as stipulated in MOA, the Sellers have the right to cancel this MOA, and they shall be entitled to confiscate all the bidding deposit paid by Buyers but without prejudice to the Sellers' right to claim their losses against the Buyers. 

Should the second and third payment not to be paid as stipulated in MOA, the Sellers have the right to cancel this MOA, the Sellers are entitled to confiscate all the Purchase Deposit and any funds paid by Buyers but without prejudice to the Sellers' right to claim their losses against the Buyers. 

Should the fourth payment not be paid as stipulated in MOA, the Sellers have the right to cancel this MOA, the Sellers are entitled to confiscate all the Purchase Deposit, second and third payment paid by Buyers. If the fund does not cover their loss, the Sellers shall be entitled to claim further compensation for their losses and for all expenses incurred together with interest.

Zhejiang Shipping Exchange Co., Ltd.

Zhoushan Yi Ge Ship Auction Co. Ltd.

November 1st, 2024