【Bidding】Announcement of Bulk Carrier MV GUO YUAN 9

Entrusted by the transferor (the Sellers), we have scheduled to hold a public bidding online (www.shipbid.net) from 16:00 to 16:30 (Beijing Time) on November 27th, 2024.

1. Bidding Object:

2. Bidding Rules:

2.1 This bidding will be held without a reserved price. If there is only one bidder participating in the bidding, the potential Buyer of the Vessel will be confirmed automatically after the bidding period; If there are two or more bidders participating in the bidding, the potential Buyer of the Vessel will be carried out by bidding. No one has the preemptive right to the transfer of Vessel.

2.2 The starting price is RMB 27.8million, and the bidding deposit is RMB 2.8million (or USD 0.4million). Bid increment is a multiple of RMB 0.02million.

2.3 The bidding time will enter into Extension Bidding Cycle from 16:25 on the bidding date (Beijing Time) after the bidding officially starts. And the countdown timer will be automatically refreshed to 5 minutes once a new bidding price offered during the Extended Bidding Period.

2.4 The time of this bidding activity shall be subject to Beijing time (unless otherwise expressly stated).

3. Registration requirements:

3.1 Registration is available from the date of this Announcement and ends before the auction starts (subject to the receipt of bidding deposit, the completion of online registration and the receipt of the bid number plate obtained on the platform. It is recommended that bidders pay the deposit 2-3 days in advance in order to avoid any issues resulting in missing the auction). No registration will be accepted after the 16:00 (Beijing Time) of the bidding date. After successful registration, the bidders shall be deemed to have fully known, accepted and complied with the contents of this announcement, bidding rules, special provisions, attachments and relevant agreements.

3.2 Any natural persons with full civil capacity in China and corporation or organization in and outside the People’s Republic of China with legally existing may participate in this bidding.

3.3 The bidder shall not subject to or affected by any sanction, embargoes, freezing provisions, prohibitions or other restriction relating to trading, doing business, investment, exporting, financing or making assets available (or other activities similar to or connected with any of the foregoing) imposed by law or regulation of the United Nations, the People's Republic of China, United States of America and European Union against any state, natural or legal person, body or entity(When registration for bidding, the bidders shall provide supporting documents as required by bidding company, and supply additional evidence after bidding as required by the Seller and bidding company).

3.4 The bidders shall submit the following documents for registration (including but not limited to):

(1) For domestic bidders:

● 营业执照扫描件（加盖公章）

● 法定代表人身份证扫描件（加盖公章）

● 经办人身份证扫描件及授权委托书（如有，需加盖公章）

●《参拍承诺书》

● 竞拍保证金付款凭证

(2) For overseas bidders:

● Certificate of Incorporation

● Articles of Incorporation

● Copy of Director’s Passport

● Undertaking for Bidding (please check the Supplement)

● Bank slip of bidding deposit

4. Inspection of the Object:

Inspection is to be determined, please contact with the bidding company for details. Intended bidders who have lodged the bidding deposit may inspect the Vessel within the stipulated time. All the expenses, risks and responsibilities of the inspectors during the process shall be borne by the potential bidders. The bidding company and the Seller shall only be responsible for coordination work. Potential bidders who fail to participate in the on-site inspection yet complete the registration procedure within the prescribed inspection time shall be deemed to have recognized and accepted the status quo and defects of the Vessel, including but not limited to all known and unknown defects related to the vessel certificates and the vessel condition, etc. Potential bidders shall not object to defects, such as the quality, of the Vessel for any reason.

5. Account of Bidding Company:

(1) RMB Acct:

● Beneficiary: 浙江拍船网航运交易股份有限公司

● Account No.: 3420020010120100378739

● Beneficiary Bank: 浙商银行舟山分行

(2) USD Acct:

● Beneficiary: Zhejiang Shipping Exchange Co., Ltd.

● Beneficiary Address: 6th Floor, Zhoushan Bulk Commodity Exchange Center, No.555 Wengshan Rd, Lincheng Zhoushan, Zhejiang Province, P.R.China

● Account No.: 3420020011420100032130

● SWIFT (Beneficiary Bank): ZJCBCN2N

● Beneficiary Bank: China Zheshang Bank

● Beneficiary Bank Address: No.88,Lv Dao Road, Dinghai Dist., Zhoushan City, Zhejiang Prov., P.R. China

6. Contacts:

Mr. Gao: +86 18058087033/ 0580-2038333

Ms. Wen: +86 18058087023/ 0580-2038333

E-mail: auction@shipbid.net

Zhejiang Shipping Exchange Co., Ltd.

Zhoushan Yi Ge Ship Auction Co. Ltd.

November 6th, 2024

1. This additional provision is a supplement to the bidding announcement and rules, which has the same legal effect.

2. Bidding Object

All the information and data provided in the Bidding Announcement, Special Provision as well as any other channel related to the Vessel is for reference only. The condition of the bidding object is subject to that at the time of inspection. If there is any discrepancy between the actual situation and the information and data above shall not affect the bidding and bidding price. Once the bidding is concluded, the Seller and us shall not assume take any liability for defects or quality problems of the bidding vessel.

3. After Bidding:

3.1. After a successful bidding, the Buyers shall sign an Auction Confirmation to the Bidding Company on the same day (the”Bidding Day”) by email or facsimile. The Buyers shall sign the originals of Auction Confirmation with the Bidding Company within Two (2) Working Days of the Bidding Day. The Buyers shall sign MOA with the Sellers within Three (3) Working Days after completion of biding.

3.2 The MOA shall be signed as attached, which forms part of Bidding Announcement and has the same effect as the terms in Bidding Announcement. The Bidders who applied for the auction shall be deemed to accept the full terms of the attached MOA drafted by the Sellers. No modification of the MOA will be allowed, except filling with the necessary information (e.g. Buyers' information, Purchase Price, signing date, etc.), or others terms mutually agreed between the Sellers and the Buyers. In the event of any conflict or ambiguity between MOA and this public auction regulations (including the bidding announcement, bidding rules, special provision, etc), the MOA signed both by the Sellers and the Buyers shall prevail.

3.3 It’s acknowledged the Transaction Service account designated by the Zhejiang Shipping Exchange Co., Ltd.(ZSE) for the Buyers and the Sellers to hold and release the funds of the Purchase Price without interests and the Transaction Service Agreement (TSA) shall be signed by the Buyers, the Sellers and ZSE no later than the signing date of MOA. ZSE does not charge any additional fees for the fund custody services related to this project, and all the custody funds are free of interest.

3.4 The bidding deposit paid by the Buyers shall be automatically converted to the purchase deposit after signing the MOA and the TSA.

3.5 The bidding deposits of the unsuccessful bidders shall be returned within Two (2) Working Days after the bidding without interests.

3.6 The Purchase Price shall be settled in CNY. If the Buyers are of an overseas enterprise, the Buyers have the right to use US dollars as the settlement currency with the middle rate published by Bank of China on the Bidding Day. The final price of bidding will be deemed to be the Purchase Price if the Buyers decide to pay with cross border RMB.

At the same time, both the Sellers and the Buyers shall jointly appoint the export agent designated by the bidding company for exporting matters. The Sellers shall cooperate in handling the exporting matters, and the all export-related expenses shall be borne by the Buyers.

3.7 If the Buyers fail to sign the MOA or the Auction Confirmation as scheduled, the Sellers have the right to cancel the transaction, and shall be entitled to confiscate all the bidding deposit paid by the Buyers but without prejudice to the Sellers' right to claim their losses against the Buyers.

The bidding company shall release the bidding deposit to the Sellers within Two (2) Banking days after the Buyers breaching the bidding rules (such as not signing Auction Confirmation/MOA/Transaction Service Agreement and so on) and the Sellers declare in writing the cancellation of the transaction.

3.8 If, after the signing of the MOA and the TSA, the transaction service account is failed to open due to the Buyers' reasons, the Sellers shall have the right to cancel the MOA and be entitled to confiscate all the Purchase Deposit paid by Buyers but without prejudice to the Sellers' right to claim their losses against the Buyers.

3.9 If the Buyers' breach of contract as mentioned above leads to the cancellation of the transaction, The Buyers shall pay the bidding company 1% of the purchase price as the bidding service fee. Zhejiang Shipping Exchange Co., Ltd. shall have the right to re-organize the bidding activity for the object Vessel against the instructions of the Sellers.

4. Transfer (Deletion) and Delivery of the Ship:

4.1 The Buyers shall lodge the balance Purchase Price, estimated ROB charges and other delivery monies (if any) at least 2 working days prior to the intended delivery date to the transaction service account, it will be treated as a breach of contract if overdue. 

4.2 The original owner (as the Sellers) should complete all the deletion procedures relating to the Vessel within Ten (10) working days after the Protocol of Delivery and Acceptance signed, dated and timed arrive at the Sellers.

The Earliest Delivery Date:December 18th, 2024

The Latest Delivery Date:January 10th, 2025

If the Delivery indeed has to be postponed due to force majeure factors or emergencies, a new Latest Delivery Date should be mutually agreed by the Sellers and the Buyers.

4.3 Delivery Place: The Vessel shall be delivered and taken over by the Buyers at a safe berth or anchorage in China, at the Sellers’ option. The Sellers shall send Five (5) days’ notice with intended delivery time and place in advance.

The Sellers are not responsible for any time and cost for the Buyers to take delivery of the Ship which shall be for the Buyers’ account.

4.4 Delivery Condition: The Vessel shall be delivered and taken over safely afloat as she was at the time of inspection by the bidders (except for fair wear and tear).

The bidders who fail to participate in the on-site inspection yet complete the registration procedure within the prescribed inspection time shall be deemed to have recognized and accepted the status quo and defects of the Vessel. The Vessel shall be delivered and taken on as the condition at the time of delivery, and the bidders shall not object to defects, such as the quality, of the Vessel for any reason.

The vessel is a domestic offshore vessel certified by the CCS (with notation CSAD). The Sellers guarantee that the vessel is free of cargo, no illegal immigrants, no charter, with fully in classification maintained, no any condition/recommendation and without any damage that affects the classification, and the certificates on board shall be consistent with all ones during inspection (or regularly updated).

4.5 Three (3) attachments in total (Undertaking for Bidding, Technical report and MOA). Please download and check the details.

5. Related expenses:

5.1 Bidding service fee: The Buyers shall pay the bidding company 1% of the purchase price as the bidding service fee within Two (2) working days after bidding completed.

5.2 The bank charges related to the bidding deposit shall be borne by the bidders; and the bank charges related to the purchase price shall be borne by the Buyers.

5.3 The Sellers would provide with commercial invoice of the purchase price and ROB charges. All the taxes, expenses and costs incurred after the ship delivery shall be borne by the Buyers themselves.

5.4 The remaining fuel/lubricating oils/hydraulic oils/grease is not included in this bidding. On the day before the delivery, the Buyers and the Sellers representative shall jointly take measurement of the remaining bunkers and unused lubricating/hydraulic oils/grease, and deduct the normal daily consumption to determine the final remaining oil quantity for the delivery.

The Buyers shall take over the remaining bunkers at:

(a) The last actual net price (excluding barging expenses) as evidenced by invoices or vouchers;or if such invoices or vouchers not available, the Platts Shanghai published on the Three (3) working day prior to the delivery date shall be applied.

The Buyers shall take over remaining unused lubricating and hydraulic oils and grease in storage tanks and unopened drums and pay:

(b) The last actual net price (excluding barging expenses) as evidenced by invoices or vouchers; or if such invoices or vouchers not available,the marketing price published by the makers on the Three (3) working day prior to the delivery date shall be applied.

Any excess payment shall be refunded and deficiency shall be repaid.

5.5 The Vessel with everything belonging to her shall be at the Sellers' risk and expense until she is delivered to the Buyers, while the Vessel’s risk and expenses shall be for the Buyers’ account after signing Protocol of Delivery and Acceptance under MOA.

5.6 The transaction cost (if any) shall be borne by the Buyers.

6. The announcement in Chinese and English respectively, in the event of any discrepancies between the Chinese and English versions, the Chinese version shall prevail.

7. Matters not covered herein shall be settled through negotiation by the bidding company, the Sellers and the Buyers.

Zhejiang Shipping Exchange Co., Ltd.

Zhoushan Yi Ge Ship Auction Co. Ltd.

November 6th, 2024