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Bidding Announcement of YI HE 3
Bidding Ending Information
2022-07-27 16:00
2022-07-27 16:30
Total Bid:
0 times
Final Price:
Bidding Winner:
Bidding Status:
Starting Price:$4300000 USD
Bid Increment:$20000 USD
Bidding Deposit:$500000 USD
Preemption Claimant:None
Evaluation Price:Unrevealed
Bidding Period:0.5 hours
Extension Cycle:5 min/time
Reserved Price:Yes
Type: Others
Bidding History
Reserved price hasn't been reached.
The Sellers have lowered the Reserved Price
Ship name
Type of vessel Self Unloading Sand Carrier
Entrust institution ZHEJIANG SHIPPING EXCHANGE Reference price(USD) 4300000
State of the auction Auction date 2022-07-27
Ship's classification CCS Length overall(m) 138.00
Port of registry Panama Length(m)
Molded breadth(m) 26.00 Molded depth(m) 8.80
Gross tonnage 10643.00 Deadweight/
Reference capacity(t)
Type of main engine G8300ZC30B/G8300ZC31B Total fixed power
(KW / h)
Shipyard Zhejiang Hongsheng Shipbuilding Co., Ltd Completion date 2016-06-07
completion date
Bidding Rules
Special Provisions
Technical Report
Bidding History


Entrusted by the transferor (the Sellers), we have scheduled to hold an online public bidding on from 16:00 to 16:30 (Beijing Time) on July 27th, 2022.


1. Bidding Object:

MVYI HE 3, Sand Carrier; IMO: 9792369; Flag State: Panama; Class: CCS; LOA: 138.00m; MLB: 26.00m; MLD: 8.80m; Design draft: 6.20m; Summer DWT: 12636.2t; GRT:10643; NRT:3192;M/E: Ningbo C.S.I. G8300ZC30B/G8300ZC31B, 2206kW*2@600rpm;Generators: Ningbo C.S.I. N6160ZLCD6*3 sets, 294kW@1000rpm; Built Time: June 7th, 2016; Builder: Zhejiang Hongsheng Shipbuilding Co., Ltd (Data above refers to the ship inspection certificates)

Remarks: The ship is on voyage, and the NOx emission level is Tier II.


2. Bidding Rules:

The bidding will be held with a reserved price. If there are less than two bidders participating in the bidding, the auction will be deemed as invalid after the expiration of the announcement period. If there are two or more bidders participating in the bidding, the potential transfer of the Ship will be carried out by auction. However, if the highest price offered by the bidder is lower than the reserved price, the bidding will be deemed as invalid.

The starting price is USD 4.3 million, and the bidding deposit is USD 0.5 million (or RMB 3.5 million). Bid Increment: a multiple of USD 0.02 million.


3. Registration:

Registration is available from the date of this Announcement and ends on July 27th, 2022(Beijing Time) before the bidding starts (subject to the receipt of bidding deposit, the completion of online registration and the receipt of the bid number obtained on the platform. It is recommended to pay deposit 1-2 days in advance in order to avoid any problems). No application will be accepted after the deadline. The time of this bidding activity shall be subject to Beijing time. This bidding accepts the application of legal entity or organizations incorporated in and outside China. 


4. Date and Place for Inspection of the Object:

The potential bidders are invited to inspect the bidding object at Zhoushan Port with the time is to be determined (we will issue the notice in advance if possible). Please contact with the bidding company for details. Potential bidders shall inspect the Ship within the stipulated time. The risk and expenses in relation to the inspection shall be borne by the potential bidders. The Sellers 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 Ship.


5. Account of Bidding Company:

(1) USD Acct:

l  Bank: Bank of Hangzhou Co., Ltd, Zhoushan Branch

l  Bank Add: No.619, Dingshen Road, Ganghang Building B Zone, Zhoushan city, Zhejiang Prov. P.R. China


l  Acct: 3309040160000036851

l  Beneficiary: Zhejiang Shipping Exchange Market Co., Ltd.

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

l  Remittance Reference: YI HE 3


(2) CNY Acct:

l  Beneficiary: 浙江船舶交易市场有限公司

l  Account No.: 1206020109200087908

l  Beneficiary Bank: 工商银行舟山分行营业部


 6. Contacts:

Mr Gao: +86 18058087033 / +86-580-2038333

Ms Ye: +86-580-2027516



Zhejiang Shipping Exchange Market Co., Ltd.

Zhoushan Yi Ge Ship Auction Co., Ltd.

July 12th, 2022

Bidding Rules

Article 1 Bidding Rules is made by relevant laws, regulations and policies of our Country and with Shipbid practical situations, to standardize the bidding behaviors, maintain an open, fair and equal transaction order, and protect legitimate rights and interests for all the parties involved.


Article 2 The Transaction Rules of the ship bidding (hereafter to be referred as bidding) is suitable for standardizing all the online bidding behaviors.Bidders shall have a comprehensive understanding of the bidding object before participating in the online bidding activity, accept the requirements and relevant terms for the transferee in the bidding, and shall not regret on the grounds that they do not know about the bidding object after bidding online, and bear legal responsibility for their own behavior. In case of any dispute, the bidder may file a lawsuit to the people's court in the place where the organizer is located.


Article 3 All legal personalities, natural persons and other organizations in and abroad PRC can participate in the bidding only if they have the qualifications of the auction announcement except those provided by laws and regulations.


Article 4 The information provided by the Sellers, including video, pictures and text introduction, will be sorted out by the organizer and uploaded through the online auction system, which is only for the reference of the bidder and does not constitute any guarantee of the bidding object.


The Seller shall take all the legal responsibilities and economic losses if he provides with fake information.


Article 5 The bidders couldn’t participate in the bidding activities until they register as the buyers through the Shipbid system. 


The accounts and passwords should be kept safely. If forgotten, bidders could retrieve through the Shipbid system. And if divulged, bidders should login in time to change the passwords.


Article 6 Before submitting the application for the bidding, the bidders should carefully read the auction announcement, ship’s information, transaction rules and other relevant documents, then login the Shipbid system to fill in true and effective information as required.


Article 7 The bidders should submit the applications in accordance with the auction announcement before the Shipbid starts.


If legal personalities, natural persons and other organizations need joint-bidding, they should fill in related information and the proportion of capital contribution of each party as required and sign the Joint Bidding Statement.


Article 8 The bidders apply on the Shipbid system by themselves, and pay the deposit either on line or offline. One deposit is only for one lot. And if the bidders want to bid several ships at the same time, corresponding deposits are required.


The bidders are entitled to bid only if the deposit fully paid to the nominated account (based on the arrival time of the deposit within the required time. The bidders shall not be eligible for bidding if the deposit is delayed or not fully paid on time.


Article 9 The bidding shall be conducted with time limit. Qualified bidders can participate in the bidding. The initial offer shall not be lower than the starting price and each offer shall be no less than the specified bid increment.


If it is an auction with reserve price, “YES” will be revealed in the system. Otherwise it will display “NULL”.


Article 10 The bidder shall make a cautious bid, and the offer will be irrevocable once submitted.


Article 11 The last limited time of the Shipbid is FIVE (5) minutes. If there is a new bid within 5 minutes countdown, another 5 minutes will be set.


No new offers would be accepted after the final countdown, and the bidding history will be revealed.


Article 12 Once there is/are (a) bidder offer(s) in the Shipbid, the target bidder (hereinafter called the Buyer) shall be confirmed in accordance with the following rules


(1) Where there is no reserve price, the highest bidder would be the Buyer.


(2)Where there is a reserve price, the bidder with the highest offer and not lower than the reserve price would be the Buyer; If the highest offer is lower than the reserve price, the bidding will be pass.


When the time for the bidding is over, the bidding system will be automatically closed.


Article 13 The Buyer should confirm his qualification with the enterprise or individual valid certification to the auctioneer within 2 working days after the bidding. After verification and confirmation, the Buyer should sign the Purchase Confirmation. If the buyer fails to sign the Auction Transaction Confirmation for reasons, the auction result shall not be affected.


If the buyer fails to pass the qualification due to submitting false registration materials, the bidding result is invalid or the buyer breaches the contract, he shall pay the bidding service fee of both the buyers and the sellers; If the price of the re-auction is lower than the transaction amount, the buyer must make up the difference.


If the bidding is completed, but the transaction is suspended or terminated, if there is a dispute between the buyer and the seller, the auction deposit shall be properly kept by Zhejiang Shipping Exchange Market until it is paid according to the settlement agreement between the two parties or the effective court judgment or the ruling of the arbitration institution.


Article 14 The balance shall be remitted to the nominated account in time according to the Purchase Confirmation.


Article 15 The Buyer should sign the Sale and Purchase Agreement with the seller within the required time and make relevant transaction procedures.


Article 16 After paying the balance, the Buyer himself should handover the lot and manage the transaction procedures in time. If the Buyer fails to manage within required time, he himself should pay the costs caused by the delay and afford the consequences of possible damage or losses.


Article 17 The Buyer himself should register the lot and bear all relevant expenses occurred according to the regulations and policies during the transaction procedures.


Article 18 The bidding currency is US dollar. Both the starting price and purchase price do not include the expenses and taxes occurred during transaction procedures.


Article 19 If the bidder obstruct others to bid, manipulate or monopoly the bidding price, or make malicious collusion, the auction will be cancelled once above behaviors are found, and relevant legal responsibility will be borne by the bidder.


Article 20 If the bidder cannot normally login the Shipbid system to apply, offer or bid because of following reasons such as virus invasion, hardware failure, network congestion or passwords forgotten and divulge, etc., he himself should bear the consequences and the bidding will not be suspended.


Article 21 The auctioneer reserves the right to suspend or withdraw the bidding before it starts according to the laws and regulations.


Article 22 The auctioneer reserves the right to suspend or withdraw the bidding if force majeure or accident has caused the online auction to fail.


Article 23 If the service of the Website is abnormal or the auction activity is interrupted due to force majeure or a third party, the trustee and the organizer shall not assume any responsibility. After that, the organizer will issue a supplementary announcement and explain the cause of interruption until a new auction announcement is issued after the website service is restored to normal, and the online auction will be organized according to the new auction announcement.


Article 24 These rules are general rules for online auction transactions of ships. In case of any conflict with the announcement or agreement of a single item, the terms of a single item shall prevail.


Article25 Bidding announcement, additional provision and other contents are described both in Chinese and English. In case of any discrepancy between the two languages, Chinese shall prevail.


Article26 The time concerned in the bidding all depends on Shipbid system service time, except the deposit arriving time which depending on the bank recording time. All the time of information arriving is subject to the time when the information received by Shipbid.


Zhejiang Shipping Exchange Market Co Ltd is responsible for the interpretation of the Rules.

Special Provisions

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


2. Bidding Object:

MVYI HE 3, Sand Carrier; IMO: 9792369; Flag State: Panama; Class: CCS; LOA: 138.00m; MLB: 26.00m; MLD: 8.80m; Design draft: 6.20m; Summer DWT: 12636.2t; GRT: 10643; NRT: 3192; M/E: Ningbo C.S.I. G8300ZC30B/G8300ZC31B, 2206kW*2@600rpm; Generators: Ningbo C.S.I. N6160ZLCD6*3 sets, 294kW@1000rpm; Built Time: June 7th, 2016; Builder: Zhejiang Hongsheng Shipbuilding Co., Ltd (Data above refers to the ship inspection certificates)

Remarks: The ship is on voyage, and the NOx emission level is Tier II.


All the information and data provided in the Bidding Announcement, Special Provision, Technical Report as well as any other channel related to the Ship are for reference only. The bidding object is subject to the status at the time of inspection. If there is any discrepancy between the actual situation and the data above, the bidding and bidding price won’t be disturbed. Once the bidding is concluded, the bidding company and the Sellers shall not assume any liability for defects or quality problems of the bidding ship.


3. After Bidding:

3.1 Following a successful bidding, the Buyers shall send an Auction Confirmation to the Bidding Company on the same day (the “Bidding Day”) at the email address or facsimile number. The Buyers shall courier six of original Auction Confirmation to the Bidding Company within two (2) Banking Days after the Bidding Day.

3.2 The Buyers shall sign the MOA with sellers within nine (9) banking days after bidding.

3.3 The bidding deposits of the unsuccessful bidders shall be returned within two (2) banking days after the bidding without interests.

3.4 The domestic Buyers who purchase the bidding object shall appoint the Agent nominated by the bidding company for import issues of the bidding object. The expense required for import procedures shall be borne by the Buyers, and the Seller shall assist in handling relevant import documents.

3.5 It’s acknowledged the dollar account designated by the bidding company is the escrow account for the Buyers and Sellers to hold and release the funds of the Purchase Price. The bidding company shall release the purchase price, ROB charge and other payables to the sellers within three (3) banking days after receiving the PODA and release instruction signed by both parties. The bidding company shall not charge any additional fee for the escrow service of funds, and all funds logging into the escrow account have no interest. If other Third Party proposed by the Buyers and agreed by the Sellers as the Escrow Agent, all relevant costs will be borne by the Buyers.


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

4.1 The Buyers shall pay all the bidding service fee not later than 16:00 July 29th, 2022 (Beijing Time), and remit the balance of the purchase price, estimated ROB charge and other payables (if any) to the escrow account two (2) banking days prior to the Vessel’s expected delivery date. Any delay or failure to pay fees mentioned above shall be deemed as a breach of the Bidding Announcement and the MOA.

4.2 The original ship owner (as the Sellers) should complete all the deletion procedures relating to the ship within 20 banking days after signing PODA.

The latest delivery date: August 12th, 2022.
4.3 Delivery Place: The ship shall be delivered and taken on an “as is where is” basis at the time of inspection, and the Buyers take delivery at one safe port or anchorage of Zhoushan Port, China. The Sellers are not responsible for any time and cost for Buyers to take delivery of the Ship which shall be for the Buyers’ account.

4.4 If the delivery and acceptance of the bidding object is executed in time s of unprecedented business interruptions and travel limitation at Zhoushan Port due to Novel Coronavirus Pneumonia prevention and control policy restrictions or other force majeure factors, the parties declared intention and understanding to work closely together to perform fully under this Announcement and MOA and complete this transaction, finding an alternative place of delivery(domestic coastal ports) and / or time of delivery, all the expenses (including but not limited to fuel consumption, labor costs, etc.) incur during the ship sailing from Zhoushan to the new delivery port should be borne by the Buyers, and any time delayed shall not be deemed as a breach of contract of the Sellers.

4.5 The sales and purchases contract will be revised and signed basis on SALEFORM 2012 made by Norwegian Shipbrokers’ Association as attached. If there is any conflict or ambiguity with the contents of this Announcement, the contents of this Announcement shall prevail.


5. Related expenses:

5.1 Bidding service fee: After the bidding, the Buyers shall pay the bidding company 1% of the purchase price as bidding service fee (settled in USD).

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. All the taxes, expenses and costs incurred after the ship delivery shall be borne by the Buyers themselves.

5.4 On delivery, the Buyers and the Sellers shall take measurement of the remaining bunkers and unused lubricating oils. The Buyers shall take over remaining bunkers and unused lubricating and hydraulic oils and grease in storage tanks and unopened drums and pay with the actual net price (exclude barging expenses) as evidenced by invoices or vouchers; or if the invoices or vouchers are not available, the Platts Singapore price on the 4th business days prior to the date of delivery to be applied.

5.5 Any taxes, fees and expense in connection with the purchase and registration in the Buyers' Nominated Flag State shall be for the Buyers' account, whereas similar charges in connection with the closing of the Sellers’ register shall be for the Sellers' account.

The Ship with everything belonging to her shall be at the Sellers' risk and expense until she is delivered to the Buyers, while the Ship’s risk and expenses shall be for the Buyers’ account after the delivery of the vessel under this Agreement.


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


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


Zhejiang Shipping Exchange Market Co., Ltd.

Zhoushan Yi Ge Ship Auction Co., Ltd.

July 12th, 2022


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