Supplement(Ⅳ)

Entrusted by the transferor (the Seller), we have decided to hold a public bidding on www.shipbid.net from 16:00 to 16:30 (Beijing Time) on January 15th, 2025.

 1. Bidding Object:

MT "GUO HONG 17", Oil Tanker (Flash Point ≤60℃);

PoR: Shanghai, China;

Class: CCS;

Navigation Area: Great Coastal/A1+A2;

LOA: 132.65m; MLB: 18.80m; MLD: 10.20m;

GT/NT: 7023/3932;

DWCC: 10187t @ 7.50m draft;

Ballast Displacement: 3882.835t;

Cargo Tanks: 12; Slop Tanks: 2;

Capacity: 13017.52m3;

Cargo hold coating: coated with epoxy;

Boiler: Cargo Oil Boiler-heating area 160㎡X2sets;Exhaust Gas Fuel Boiler-heating area23.5㎡X1set;

Pumps: Cargo Pump 750m3/h x 2 sets; Stripping Pump 100m3/h x 2sets; Ballast Pump 250m3/h x 2sets;

M/E: Qingdao Zichai Boyang Diesd Engine Co., Ltd. 6N330-EN, 1 set, 2574kW@620r/min;

Built Time: December 20th, 2011;

Builder: Zhejiang Hongsheng Shipbuilding Co., Ltd. China

(All the information and data refer to the Vessel provided in this Announcement, Special Provisions as well as the attachments are for reference only.)

2. Bidding Rules:

2.1 This bidding will be held without a reserve 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 USD4.80 million, and the bidding deposit is USD0.4 million (or RMB3.0 million). Bid increment is a multiple of USD5000.

2.3 If the successful bidder/buyer (the “Buyer”) pays the deposit in CNY, the Buyer shall remit USD0.4million within THREE (3) Banking Days after signing “Auction Confirmation”. The bidding company shall return the CNY deposit free of interests back to the Buyer within TWO (2) Banking Days after the receipt of the USD deposit.

2.4 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.

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

2.6 The term “Banking Days” of this bidding activity refers to banking days (not Saturdays or Sundays) in mainland of China and Hong Kong.

3. Registration Requirements:

3.1 Registration Period: Registration is available from the date of this Announcement and ends before the bidding 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 3-5 Banking 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 (as evidenced by obtaining an auction number plate), the potential bidders shall be deemed to be fully aware of and to have accepted and complied with (and will continue to comply with) the provisions of this Announcement, the ancillary auction rules, special provisions and relevant annexes.

3.2 This bidding is only open to the overseas enterprises or organizations duly incorporated and in good standing.

3.3 The bidders must ensure that they are not subject to sanctions imposed by China, the United Nations, the European Union, or the United States, and have the ability to make and receive payments in US dollars (during the bidding or after the bidding, bidders must provide relevant explanations or proof materials according to reasonable needs).

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

● Certificate of Incorporation

● Articles of Incorporation

● Copy of Director’s Passport

● Undertaking for Bidding (refer to 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. Potential bidders 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. Bidding Deposit Account:

(1)USD Account:

● Beneficiary: Zhejiang Shipping Exchange Co., Ltd.

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

● Account No.: 3420 0200 1142 0100 0321 30

● 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

(2)RMB Account：

● 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

6. Contacts:

Ms. Jenny Chen: +86 18058087028/+86 580-2038889

Ms. Wendy Wen: +86 18058087023/+86 580-2038333

Email: auction@shipbid.net

Zhejiang Shipping Exchange Co., Ltd.

Zhoushan Yi Ge Ship Auction Co. Ltd.

December 23rd, 2024

Article 1 Bidding Rules is made by relevant laws, regulations and policies of the People's Republic of China 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. All the parties involved should abide by the Rules and bear legal responsibilities for their own behaviors.Disputes, if any, shall be settled by the parties through friendly negotiation. If the negotiation fails, parties concerned may file a lawsuit with the people's court where the auction organizer (Zhejiang Ship Exchange Co., Ltd) is located.

Article 3 All legal persons or organizations that exist legally 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 auction information including videos, pictures and written introductions offered by the Seller will be uploaded through the Shipbid system after verified by the auctioneer.

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 Buyer through the Shipbid system.  

The username 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”.
If the bidding has a rule of “first bidder”, such bidder who completes the registration and obtains a bidding number firstly will be regarded as the “first bidder”. If no one bids within 5 minutes after the bidding starts, the platform will automatically bid for the “first registrant” with the starting price.

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 Auction Confirmation. If the Buyer fails to sign the Auction Confirmation for any 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 Buyer and the Seller; If the price of the re-auction is lower than the transaction amount, the Buyer must make up the difference.

Article 14 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 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 15 The payment of balance shall be remitted to the nominated account in time according to the Auction Confirmation.

Article 16 The Buyer should sign the Memorandum of Agreement (MOA) and the Auction Confirmation with the Seller within the required time and make relevant transaction procedures.

Article 17 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 18 The Buyer himself should register the lot and bear all relevant expenses occurred according to the regulations and policies during the transaction procedures.

Article 19 The bidding currency is USD. Both the starting price and purchase price do not include the expenses and taxes occurred during transaction procedures.

Article 20 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 21 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 22 The auctioneer reserves the right to suspend or withdraw the bidding before it starts according to the laws and regulations.

Article 23 The auctioneer reserves the right to suspend or withdraw the bidding if force majeure or accident has caused the online auction to fail.

Article 24 The Seller and the auctioneer shall not bear any responsibility for the abnormal service of the website or the interruption of the auction activity due to force majeure or any third party.  After that, the auctioneer will issue a supplementary announcement and explain the reasons for the interruption. A new auction announcement will be issued as soon as possible the website service returns to normal, and the online auction will be organized and completed according to the new auction announcement. 

The starting price and reserve price (if any) for re-organizing the bidding due to the above reasons shall be consistent with the original announcement.

Article 25 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.

Article 26 If the bidding announcement, additional provision, inspection report or technical status report of the subject object is described and publicized in Chinese and English (or other languages), in case of contradiction or inconsistency, The Chinese version shall prevail.

Article 27 If the person with the right of preemption participates in the bidding, he/she shall submit legal and effective certificates to the auctioneer before the auction begins. After the auctioneer confirms the qualification, he/she can obtain the right of preemption to participate in the bidding. If he/she fails to submit within the time limit, he/she shall be deemed to have given up the right of preemption of the subject matter.

Article 28 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 Co., Ltd is responsible for the interpretation of the Rules

1. This special provision is supplemental to the Bidding Announcement and the Bidding Rules and has the same legal effect.

2. Bidding Object:

MT "GUO HONG 17", Oil Tanker (Flash Point ≤60℃);

PoR: Shanghai, China;

Class: CCS;

Navigation Area: Great Coastal/A1+A2;

LOA: 132.65m; MLB: 18.80m; MLD: 10.20m;

GT/NT: 7023/3932;

DWCC: 10187t @ 7.50m draft;

Ballast Displacement: 3882.835t;

Cargo Tanks: 12; Slop Tanks: 2;

Cargo hold coating: coated with epoxy;

Capacity: 13017.52m3;

Boiler: Cargo Oil Boiler-heating area 160㎡X2sets; Exhaust Gas Fuel Boiler-heating area23.5㎡X1set;

Pumps: Cargo Pump 750m3/h x 2 sets; Stripping Pump 100m3/h x 2sets; Ballast Pump 250m3/h x 2sets;

M/E: Qingdao Zichai Boyang Diesd Engine Co., Ltd. 6N330-EN, 1 set, 2574kW@620r/min;

Built Time: December 20th, 2011;

Builder: Zhejiang Hongsheng Shipbuilding Co.,Ltd. China

(All the information and data refer to the Vessel provided in this Announcement, Special Provisions as well as the attachments are for reference only.

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. After the bidding is concluded, our company and the seller of the Vessel will not be liable for any defects or any issue whatsoever arising in relation to the Vessel and shall not be liable in relation to any matter relating to the Vessel whatsoever. 

3. Procedures after Auction:

3.1 Following a successful bidding, the Buyer shall send an executed Auction Confirmation to the Bidding Company on the same day (the"Bidding Day") at the email address or facsimile number. The Buyer shall sign FOUR (4) originals Auction Confirmation with the Bidding Company within TWO (2) Banking Days after the Bidding Date (as evidenced by a courier airway bill number).

3.2 The terms and conditions applicable to the sale and purchase of the Vessel shall be based on the Norwegian Shipbrokers' Association's version of SALEFORM 2012 attached as an annex hereto (the"MOA"). Upon successful registration for the purposes of participating in the bidding (as evidenced by obtaining a bidding number plate) as described in the Bidding Announcement, each bidder shall be deemed to have confirmed and accepted all the terms and conditions of the Bidding Announcement, this Special Provisions, the MOA and be bound by and accepts all the terms and conditions contained therein and herein without any amendments thereto.

The Buyer shall sign the MOA and all other ancillary agreements (if any) with the Seller within FIVE (5) Banking Days after the bidding is completed.

The MOA shall not be amended or negotiable other than to insert relevant and necessary information (such as the company name, purchase price, date of signing, etc.) unless otherwise agreed to by the Seller in its absolute discretion. If there is any conflict or ambiguity between the terms and conditions of the Bidding Announcement, the signed MOA shall prevail.

3.3 It's acknowledged the Transaction Service Account designated by the Zhejiang Shipping Exchange Co., Ltd. (ZSE) for the Buyer and the Seller to hold and release the funds of the Purchase Price without interests and the Transaction Service Agreement shall be signed after completion of biding by the Buyer, the Seller and ZSE on the same day of signing 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 Buyer shall be deemed as the deposit referred to in the MOA upon the Buyer and Seller executing the MOA and the Transaction Service Agreement.

The Buyer shall remit the balance Purchase Price, estimated ROB charges and all other monies payable (if any) to the Transaction Service Account TWO (2) Banking Days before the delivery date of the Vessel.

3.5 ZSE shall within THREE (3) Banking Days upon receipt of the scanned true copy of the original Certificate of Deletion from Seller, transfer the Purchase Price, ROB charges and all other monies payable (if any) paid by the Buyer transfer to the account designated by the Seller.

3.6 Both the Seller and the Buyer shall jointly appoint the export agent designated by the bidding company for exporting formalities. The Seller shall cooperate in handling the exporting matters, and the export-related expenses shall be borne by the Buyer. Port disbursement before delivery (if any) shall be borne by the Seller, while that after delivery to be for the Buyer's account.

 3.7 If the Buyer fails to sign the Auction Confirmation or MOA or related agreements, the Seller shall be entitled to confiscate all the bidding deposit paid by the Buyer but without prejudice to the Seller's right to claim losses against the Buyer. If, after the signing of MOA and the Transaction Service Agreement, the Transaction Service Account is failed to open due to the Buyer's reasons, or the Buyer fails to pay the balance of Purchase Price 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 losses against the Buyer.

3.8 If the Buyer's breach of contract as mentioned above leads to the cancellation of the transaction, The bidding company shall release the bidding deposit with the deduction of bidding service fee to the Seller no later than THREE (3) Banking Days after the Buyer breaching the bidding rules (such as not signing Auction Confirmation/MOA/Transaction Service Agreement and so on). 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 Ship:

4.1 The original owner (as the Seller) shall complete all the deletion procedures relating to the Vessel within TEN (10) Banking Days after signing the Protocol of Delivery and Acceptance and receiving the original Buyer's delivery documents required by the China MSA.

4.2 The Earliest Delivery Date: February 15th, 2025

The Latest Delivery Date: February 28th, 2025

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

4.3 Delivery Place: The Vessel shall be delivered and taken over by the Buyer at a safe port or anchorage in China, at the Seller's option. The Seller shall send Ten (10) days' notice with intended delivery time and place in advance.

4.4 Delivery Condition: The Vessel shall be delivered and taken over on an"as is where was" basis at the time of inspection, fair wear and tear excepted. The Buyer shall be deemed to confirm and accept the ship's condition if the Buyer has not inspect the Vessel at the nominated time within the prescribed inspection time.  

4.5 This Special Provisions is accompanied by THREE (3) annexes (Undertaking for Bidding, Technical Report, MOA), Please download and review.

5. Related Fees:

5.1 Bidding service fee: After the auction is concluded, the Buyer shall pay the bidding company 1% of the purchase price as the bidding service fee within TWO (2) Banking Days after the Bidding Day.

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. The bidding deposits of the unsuccessful bidders shall be returned within THREE (3) Banking Days after the bidding without interests.

5.3 The Seller shall provide the commercial invoices of the purchase price, the ROB charge and other monies receivable (if any).

All the taxes, fees and expenses (including deletion from China MSA) before delivery of the vessel shall be for the Seller's Account, and all the taxes, fees and expenses (including registration in Buyer's Nominated Flag State) will be for the Buyer's account after delivery.

5.4 The Purchase Price refers to the subject Vessel only.

5.5 The remaining fuel/lubricating oils/hydraulic oils/grease is not included in this bidding. On delivery, the Buyer and the Seller representative shall take measurement of the remaining bunkers and unused lubricating/hydraulic oils/grease.

The Buyer shall take over the remaining bunkers at:

(a) The last actual net price (excluding taxes and barging expenses) as evidenced by invoices or vouchers; or if such invoices or vouchers are not available, the bunker price published by Shanghai CHIMBUSCO (Shanghai Port) THREE (3) 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 taxes, 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) Banking Days prior to the date of delivery date shall be applied.

The actual charges shall be settled according to the actual measured amount on the day of delivery, and any excess payment shall be refunded and deficiency shall be repaid.

5.6 The items on board which on hire or owned by the third party, are excluded from the sale without compensation: Nill.

5.7 The delivery and transfer of title and interest in the Vessel from the Seller to the Buyer shall be evidenced by the execution of the PODA. All costs, risks and liabilities relating to the Vessel prior to delivery to the Buyer shall remain with the Seller but after delivery of the Vessel as evidenced by the signing of the PODA, all such costs, risks and liabilities relating to the Vessel shall rest with and be borne by the Buyer.

6. This Special Provisions are in both Chinese and English, and if there is any discrepancy between the two versions, the Chinese version shall prevail.

7.Matters not covered herein shall be resolved through negotiation between our company, the Seller and the Buyer.

8.This announcement shall be governed by Chinese Law. Disputes, if any, arising from this announcement shall be requested at the Arbitration Center of China Maritime Arbitration Commission with the arbitration rules currently in force at the time of application for arbitration.

Zhejiang Shipping Exchange Co., Ltd.

Zhoushan Yi Ge Ship Auction Co. Ltd.

December 23rd, 2024

Technical report of GUO HONG 17.pdf