【Bidding】Announcement of “KOTA LAKSAMANA 101”

All the information and data provided in the Bidding Announcement, Special Provision, Technical Report as well as any other channel related to the Vessel are for reference only. The bidding object is subject to the status at the time of delivery（on an asis-where-is basis in its state and condition）under English Law. 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 Buyer shall sign an Auction Confirmation with the Bidding Company on the same day (the “Bidding Day”) by email or facsimile. The Buyer shall sign an original Auction Confirmation with the Bidding Company within Two (2) banking days of the Bidding Day.

 

3.2 The sales and purchases contract (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 Seller. Within Five (5) banking days after the Bidding Day, the Buyer and the Seller shall sign on this basis. No modification of the MOA will be allowed, except filling with the necessary information (e.g. Buyer’s information, Purchase Price, signing date, etc.), or others terms mutually agreed between the Seller and the Buyer. 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 Seller and the Buyer shall prevail.

 

3.3 It’s acknowledged the account designated by the bidding company is the transaction service account for the Buyer and Seller to hold and release the funds of the Purchase Price without interests and the Transaction Service Agreement shall be signed on the same day of signing MOA by the Buyer, the Seller and the Bidding Company.

 

The Buyer shall lodge a purchase deposit of 10% (ten per cent) of the Purchase Price into the transaction service account within Three (3) banking days executing the MOA and the Transaction Service Agreement.

 

The bidding deposit paid by the Buyer (after deducting the Buyer’s bidding service fee) shall be automatically converted to part of the purchase under the MOA.

 

The Buyer shall lodge the balance Purchase Price, estimated ROB charges and other delivery monies (if any) as prescribed in the MOA and the Transaction Service Agreement no later than Two (2) banking days prior to the Vessel’s expected delivery date (according to the 10- banking-day approximate delivery notice).

 

The bidding company shall release all the funds paid by the Buyer to the Seller’s nominated account no later than Three (3) banking days after receipt of the true copy of Protocol of Delivery and Acceptance and the joint Release Letter signed both by the Seller and the Buyer. If the Buyer fails to take the Vessel Three (3) banking days after Notice of Readiness tendered by the Seller, the funds shall be automatically released by the bidding company to the Seller’ designated account.

 

The bidding company 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 Purchase Price shall be settled in US Dollars. If the Buyer is of a Chinese corporation or organization which pay in CNY, he shall appoint an importing agent nominated by the bidding company to manage all matters related to the importation of the Vessel (including but not limited to exchange CNY into the equivalent amount of USD and proceed with the payment thereafter to lodge into the transaction service account), and the said import-related expenses shall be borne by the Buyer.

 

3.5 If the Buyer fails to sign the Auction Confirmation or the MOA or fail to pay the bidding deposit denominated in US dollars in full and on time (if the bidding deposit paid in RMB) as scheduled, the Seller shall be entitled to confiscate all the bidding deposit paid by Buyer but without prejudice to the Seller’s right to claim their losses against the Buyer. No later than Two (2) banking days after breaching the bidding rules (such as not signing Auction Confirmation / the MOA on schedule or fail to pay the bidding deposit denominated in US dollars in full and on time (if the bidding deposit paid in RMB), the bidding company shall release the bidding deposit with deducting 1% of the Purchase Price as the bidding service fee to the Seller.

 

3.6 If, after the signing of the MOA and the Transaction Service Agreement, the transaction service account is failed to open due to the Buyer’s reasons, or the Buyer fail to pay the Purchase Deposit on time as prescribed in the MOA, the Seller shall have the right to cancel the MOA and be entitled to confiscate all the Purchase Deposit paid by Buyer but without prejudice to the Seller’s right to claim their losses against the Buyer. Zhejiang Shipping Exchange Co., Ltd. shall have the right to re-organize the bidding activity for the object Vessel against the instructions of the Seller.

 

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

4.1 The Buyer shall remit the deposit, balance of the Purchase Price, estimated ROB charge and other delivery monies (if any) to the transaction service account according to the MOA.

 

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

 

The Earliest Delivery Date: 12th July 2024

The Latest Delivery Date: 31st July 2024 

 

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 Seller and the Buyer.

 

The Buyer shall sign and deliver the joint Release Letter (or any letter equivalent thereto) and the Protocol of Delivery and Acceptance (“PODA”) to the bidding company within three (3) banking days from the date the Notice of Readiness tendered to the Buyer, failure of which, the funds shall be automatically released by the bidding company to the Seller’ designated account (after the expiry of the 3-banking-day of the Notice of Readiness).

 

4.3 Delivery Place: The Vessel shall be delivered and taken over safely afloat by the Buyer at a safe and accessible berth or anchorage in Malaysia, at the Seller’s option. The Seller shall send the delivery notice with intended delivery time and place Ten (10) banking days in advance.

 

4.4 Delivery Condition: The Vessel shall be delivered and taken on an “as is where is” basis in its state and condition on condition at the time of delivery. The Vessel shall be delivered free of cargo and free of stowaways.

 

4.5 Documents provided by the Seller and the Buyer on Closing shall be refer to MOA.

 

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

 

5. Related Expenses:

5.1 Bidding service fee: After the successful bidding, the Buyer shall pay the bidding company 1% of the Purchase Price as bidding service fee which will be deduct from the bidding deposit on the same day after the completion of the bidding.

 

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 Buyer.

 

5.3 The Seller shall provide with commercial invoices of the Purchase Price, the bunkers and other delivery monies (if any). All the taxes, expenses and costs incurred after the vessel delivery shall be borne by the Buyer themselves.

 

5.4 The remaining fuel/lubricating oils/hydraulic oils/grease is not included in this bidding. On delivery of the Vessel, the representatives of Buyer and the Seller shall take live measurement of the remaining bunkers and unused lubricating/hydraulic oils/grease which have been purchased within 18 months. 

 

 The Buyer shall take over the remaining bunkers at:

 

(a) The last actual net price as evidenced by invoices or vouchers; or if not available from the Seller, the Platts Singapore bunker price on the Two (2) banking days prior to the delivery date shall be applied.

 

 The Buyer 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 the Seller in furnishing other supporting documents as proof, to which the invoice shall be furnished by the Seller, should the Seller be unable to furnish the invoices, then it shall not be calculated.

 

5.5 Please find the list of the items excluded from the sale or owned by third parties in the draft MOA.

 

5.6 The Vessel with everything belonging to her shall be at the Seller’s risk and expense until she is delivered to the Buyer, while the Vessel’s risk and expenses shall be for the Buyer’s account after signing Protocol of Delivery and Acceptance under MOA. If there are other agreements in the MOA, the agreement in the MOA signed by the Buyer and Seller shall prevail.

 

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

 

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

 

Zhejiang Shipping Exchange Co., Ltd.

Zhoushan Yi Ge Ship Auction Co. Ltd.

May 15th, 2024