Commissioned by our entrusting party, Guangzhou Shipping Exchange Co., Ltd. (GSE) and Hang Qing Bao Auction Co., Ltd. determines to organize an online bidding for a supramax bulk carrier named “ Lan Hai Sheng Hui”. The announcement is stated as follows.

I. Description

Reserve Price: RMB117,650,000.00;

Auction Deposit: RMB 11,770,000.00 or USD1,850,000.00

Increment：≥RMB 100,000.00

All the static information about the ships are for reference only.

 

II. Qualifications and Registration of Bidders

Any corporation inside or outside The People's Republic of China with full capacity for civil conduct and lawfully existing may participate in this bidding.No one has the preemptive right to this ship.

Interested bidders shall visit https://www.gse020.com/#/ to register a member account and become a qualified bidder.The following documents are required to upload in the process of applying for a bidding:

1.Transfer voucher of Auction Deposit payment from the paying bank.

2.Identity documents of the bidder: scanned copies of Certificate of Incorporation, Business Profile for shareholder identification, passport copy of Director and Power of Attorney are needed.

3.ID documents, Power of Attorney, Company licenses and other files approved by GSE and the Entrusting Party are needed for a broker commissioned to participate.

4. All time stated in this announcement are Beijing time.

Deadline for online bidding registration: 16:00 January 13 ,2022.Please upload all foresaid files before this time.

A qualified bidder refers to a bidder finish the following steps and be fully aware of, accepting and complying with the contents of this announcement and the measures for the implementation of the bidding of GSE:

a) Finish registration of member account

b) Pass the identity audit

c) Remit the Auction Deposit and upload the foresaid files 

d) The receipt of the Auction Deposit received by GSE

e) Pass the bidding registration audit

f) Get a bidding number   

III. Auction Deposit

Bidders shall remit the Auction Deposit of ¥11,770,000.00 or $1,850,000.00 to GSE, and the fund should be received by the following accounts before 12:00 on January 13, 2022. The name of the deposit payer should be consistent with the bidder’s name and final buyer’s name. Any bidder remitted Auction Deposit shall be deemed to be fully aware of and accepting all the known and unknown defects of the ship.

USD Account:

BENE’s Name：Guangzhou Shipping Exchange Co., Ltd.

BENE’s Address : R904,CGCC Building,No.162 Gangqian Avenue(South),Nansha District,Guangzhou,China

BENE’s Account No：FTE4532056929200461763

Bank Name：Industrial and Commercial Bank of China,Guangzhou Nansha Sub-Branch

Bank Address: NO.3,Wangjiang 2nd Street, Huangge, Nansha District，Guangzhou，China

SWIFT CODE：ICBKCNBJGDG

Note: Deposit of MV Lan Hai Sheng Hui.

This auction can accept unconditional performance bond (valid for one year) or commitment bond of the same amount of RMB deposit from the domestic bidder, and the guarantors and the guarantors shall be examined and verified by the entrusting party to qualify for registration.

Any bidders failed to remit the Auction Deposit or commitment letter as required will be deemed as invalid bidders. The bid winner is called the“Buyer ”. The Auction Deposit paid by the Buyer  will be automatically converted into a Ship Deposit after “Memorandum of Agreement”(MOA) is signed.. Unsuccessful bidders’ Auction Deposits will be refunded in full amount within five working days free of interest. In the event that the transaction between the Buyer  and the Seller is suspended or terminated and disputes arises, GSE shall hold the Auction Deposits until it is paid in accordance with a settlement agreement between the parties, or a final enforceable court judgment, or an arbitration award.

IV. Bidding Time and Rules

The whole bidding process is consisted of a fixed time bidding and the extension time bidding. The fixed time bidding:14:00 to 14:30, January 14, 2022，the extension time bidding begins from 14:30. The last valid bidder shall be the “Buyer ”. The termination of this bidding come in to force when no bidder bids before the countdown runs out.

This online bidding is organized at https://www.gse020.com/#/boatbidding by GSE. The first bid shall not be lower than the starting price, the increment of this bidding is RMB100,000.00. The countdown shall automatically restart from 4 minutes when a bidder bids in the extension time bidding stage. At the end of countdown, the latest bidder who offers the highest price shall become the Buyer .

The server time of https://www.gse020.com/#/boatbidding is deemed as the official time of this bidding. GSE, Hang Qing Bao Auction Co., Ltd. and the Entrusting Party assume no responsibility when reasons lead to the failure of bidders participating in the bidding due to personal time inconsistency, terminal device or network failure.

GSE, Hang Qing Bao Auction Co., Ltd.and the Entrusting Party assume no responsibility when website anomaly and suspension of bidding occurs due to force majeure or (and) the cause of third party. GSE and Hang Qing Bao Auction Co., Ltd. will release a supplement announcement for the suspension of bidding. A new bidding announcement will be released after the website service comes back up.

V. After the end of the bidding, the Buyer  must sign the “Purchase Confirmation” by Email on the day when the result of bidding is generated. The Buyer  must contact the Seller and negotiate the terms of “Memorandum of Agreement”. In case of the Buyer  refusing to sign the “Purchase Confirmation” and (or)“Memorandum of Agreement” shall be deemed as the behavior of default, the Buyer  must compensate for the loss, assume legal liability and the Auction Deposit will not be refunded. GSE has the right to reorganize the bidding. In the case of re-bidding, the original Buyer  shall pay the commission for the first bidding. Should the price of a re-bidding be lower than the price of the original bidding price, the original Buyer  shall pay for the balance.

VI. Commission

The Buyer will pay the commission of this bidding at 1% of the final price, the payment must be made to GSE no later than 5 working days before delivery.

VII. The Balance Payment

After signing the “Memorandum of Agreement”, the Buyer  shall pay the full transaction price in accordance with the terms of the MOA. Overdue payment will be deemed as default. The Buyer  shall not be entitled to demand the refund of the Auction Deposit.

VIII. Ship Delivery and Acceptance

The estimated delivery date of MV Lan Hai Sheng Hui is no later than February 21, 2022, The final time and place of delivery and acceptance shall be negotiated by both Seller and Buyer in the MOA.The “Memorandum of Agreement” is based on “Memorandum of Agreement Norwegian Sale Form 2012” (NSF’2012), all trading terms state in this announcement and adding other terms both party agreed with. The Buyer shall pay the full transaction amount and other related charges before signing the Protocol of Delivery and Acceptance (PODA).After the delivery of the ship, receiving the PODA and the formal Release Instruction，GSE will release the full amount of the ship without interest to the Entrusting Party’s account within 3 working days.

IX. The Seller can issue 13% VAT invoice of the ship value. The RMB purchase price has included tax. All taxes and fees arising from the transfer shall be borne by the Buyer . If the ship needs to be exported outside PRC, the Buyer  shall be responsible for the export procedures and pay all the expenses related. The Seller shall only be responsible for providing necessary documents and cooperating with the relevant procedures.

X. The remaining fuel is not included in this bidding. The amount of fuel shall be jointly measured by the Seller and the Buyer on the day of delivery. The value of the remaining fuel is subject to the invoice price of the latest bunkering of this ship. The Buyer shall remit the value of remaining fuel in full amount directly to the Seller's designated account on the delivery day.

XI. All expenses and custodial responsibility related to the ship is for the Seller before the signing of PODA. After signing this PODA, all the expenses, custodial responsibility and risks of the ship will be borne by the Buyer .

XII. Special Note

b.Affected by covid-19,to avoid the difficulty from the crew shift becoming obstacles to smooth delivery,the Seller has the right to request the Buyer need to hire the former crews to complete the ship delivery and acceptance on the ship and to,continue service until the Buyer get the vessel dry-docked in shipyard.Whether to continue to use the the former crews after docking can be decided by the Buyer and the crew company through consultation.

XIII. Disclaimer

All description, video and pictures provided about the ship is for reference only, GSE and Hang Qing Bao Auction Co.,Ltd. does not constitute any guarantee for the ship.

The Entrusting Party sells this ship basis of “as is, where is”, bidders can organize ship inspection at their own expense within the announcement period. If bidder waive the right of inspection is deemed as fully understood the ship status. A bidder remits Auction Deposit to GSE is deemed as fully understood all the circumstances of the ship, including but not limited to certificates, status and all known and unknown defects of the ship. Bidders shall not demur to the quality and defects of the ship with any reason.

Obstructing other bidders from bidding, manipulating or monopolize the bidding price and collusion of bidders are prohibited. Once discovered, the bidder will be disqualified, investigated, and affixed legal liabilities.

GSE Hang Qing Bao Auction Co., Ltd., the Entrusting Party and the Winning Bidder may negotiate matters not mentioned herein.

This announcement is described in both Chinese and English. If any discrepancy occurs between the two languages, the Chinese version shall prevail.

 XIV. Inspection

Due to the impact of the epidemic and port prevention and restrictions policies, on-site inspection cannot be arranged.Please read the inspection report to know the conditions.

Delivery Location: Chinese shipyard or port by negotiation.

XV. Contact

Ms.Qin:+86 13802779424,  

                      qiny@gse.net.cn

Mr.Zhou:+86 15918795024

                       zry@gse.net.cn

Here by notice.

 

Guangzhou Shipping Exchange Co., Ltd.

Guangzhou Hang Qing Bao Auction Co.,Ltd.

November 30, 2021