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 April 2nd, 2024.

1. Bidding Object:

MV “QUAN FU” (IMO No.: 8356314);

Type of Ship: Container ship;

Port of Registry: Panama;

Class: ICS；

Length: 131.62m; MLB: 20.00m; MLD: 10.50m;

GRT: 8824; NRT: 3837;

12036.9 DWT at Summer Draft 7.80m;

Container Capacity: 780TEU;

M/E: SHAANXI 8PC2-5L, 3824 KW @ 520 RPM * 1 SET;

Built: Apr 24th, 2006 in ZHEJIANG DONGFANG SHIPBUILDING CO.,LTD.

(Data and relevant information provided in this announcement are for reference only)

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 bidder will be automatically determined as the buyers after the bidding period. If there are two or more bidders participating in the bidding, the potential transfer of the Vessel will be carried out by auction. No one has the preemptive right to the transfer of the Vessel.

2.2. The starting price is USD 1.98 million, and the bidding deposit is USD 0.25 million (or RMB 1.8 million); Bid increment is a multiple of USD 5 thousand.

2.3. The bidding time will enter into Extension Cycle since 16:25 April 2nd, 2024 (Beijing Time) after the bidding officially starts, and then the ending time will be refreshed to 5 minutes once each new bidding price offered.

2.4. If the Buyers pay the deposit in USD when applying for the bidding, it (deducting the bidding service fee) will be automatically converted as the purchase deposit after signing MOA and Escrow Agreement. If the Buyers pay the deposit in RMB, Buyers shall pay another USD 0.25 million separately to the bidding company’s designated USD account within 2 working days upon the completion of the bidding. The bidding company shall return the RMB deposit fully back to the Buyers within 1 working day after the receipt of the USD deposit.

2.5. The time of this auction is subject to Beijing time (unless otherwise stipulated).

2.6. If no qualified bidders are collected after the expiration of this announcement, the announcement content will not be changed and will be extended in a cycle of 5 working days.

3.Registration requirements:

3.1. Registration is available from the date of this Announcement and ends on March 29th, 2024 (Beijing time) 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 1-2 days in advance in order to avoid any issues resulting in missing the auction). No registration will be accepted after the deadline. After successful registration, the bidder shall be deemed to have fully known, accepted and complied with the contents of this announcement, bidding rules, special provisions and relevant agreements.

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

3.3. The bidder 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》

(2) For overseas bidders:

●Certificate of Incorporation certified as true copy by the director

●Articles of Incorporation

●Copy of Director’s Passport

●Undertaking for Bidding

●Bank slip of bidding deposit

4.Date and Place for Inspection of the Vessel:

Inspection place is to be determined (according to specific voyage and port arrangement, and we will issue the notice in advance if possible), please confirm with the bidding company for details. Potential bidders can inspect the Vessel within the stipulated time. The risk and expenses in relation to the inspection shall be borne by the potential bidders. The bidding company and 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 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.:

●户名：舟山易舸船舶拍卖有限公司

●账号：3309040160000372900

●银行：杭州银行舟山分行

(2) USD Acct.:

●Beneficiary: Zhoushan Yi Ge Ship Auction Co. Ltd.

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

●Account No. : 3309040160000372942

●SWIFT (Beneficiary Bank): HZCBCN2HXXX

●Beneficiary Bank: Bank of Hangzhou Co., Ltd, Zhoushan Branch

●Beneficiary Bank Address: No.619, Dingshen Road, Ganghang Building B Zone, Zhoushan city, Zhejiang Prov. P.R. China

●Remittance Reference：QUAN FU

6.Contacts:

Ms. Ai: +86 18171278469 / 0580-2027516

Mr. Zhou: +86 18058087036 / 0580-2038882

Email address: auction@shipbid.net

Zhejiang Shipping Exchange Co., Ltd.

Zhoushan Yi Ge Ship Auction Co., Ltd.

March 22nd, 2024

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

2.Bidding Object:

MV “QUAN FU” (IMO No.: 8356314);

Type of Ship: Container ship;

Port of Registry: Panama;

Class: ICS；

Length: 131.62m; MLB: 20.00m; MLD: 10.50m;

GRT: 8824; NRT: 3837;

12036.9 DWT at Summer Draft 7.80m;

Container Capacity: 780TEU;

M/E: SHAANXI 8PC2-5L, 3824 KW @ 520 RPM * 1 SET;

Built: Apr 24th, 2006 in ZHEJIANG DONGFANG SHIPBUILDING CO.LTD.

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 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 Sellers and we shall not assume any liability for defects or quality problems of the bidding Vessel.

3. After Bidding:

3.1.Following a successful bidding, the Buyers shall sign an original Auction Confirmation with the Bidding Company within TWO (2) Banking Days of the Bidding Date, and sign Sales and Purchase Contract (or MOA) with the Sellers and the Escrow Agreement with the Bidding Company within Five(5) Banking Days (no later than THREE (3) Banking Days before delivery) after bidding.

3.2. After the signing of the vessel’s Sales Contract (or MOA), the auction deposit paid by the Buyers shall be automatically converted into the vessel’s purchase deposit under the Sales Contract (or MOA).

3.3. The bidding deposits of the unsuccessful bidders shall be returned within TWO (2) Banking Days after the bidding without interest. The bidding deposit of the Buyers will be automatically converted as part of purchase fund after the bidding without interest.

3.4. In this auction, the RMB or US dollar accounts designated by our company are regarded as third-party fund escrow accounts. We shall, within 3 working days after receiving the Protocol of Delivery an Acceptance and Letter of Instruction in Relation to the Funds signed by the Buyers and the transferor, and cancellation certificate of the transferor in original or scanned copy, release all the Purchase Price, ROB Charges and other payables received by the Buyers. Our 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.

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

4.1. The Buyers shall pay 1% of the Purchase Price as the bidding service fee no later than 16:00 on April 7th, 2024 (Beijing Time). And the Buyers shall remit the balance of the Purchase Price, estimated ROB charge and other delivery monies (if any) to the escrow account, at least TWO (2) working 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 owner (as the Sellers) should complete all the cancellation procedures relating to the Vessel within 10 Banking Days after signing PODA.

Notice of Readiness shall not be tendered before: April 8th, 2024;

The Latest Delivery Date: May 8th, 2024;

If the Delivery indeed has to be postponed due to the influence of force majeure factors, a new Latest Delivery Date should be fixed between the Sellers and the Buyers.

4.3. Delivery Place: Ningde anchorage, China, at the Sellers’ option. The Sellers shall send the notice with intended delivery time and place 10 days in advance.

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

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

The vessel shall be handed over according to the status quo at the time of inspection. When the bidders complete the registration procedures and participates in the bidding, it shall be deemed to have fully understood all the information of the subject matter of the bid, including but not limited to all known and unknown defects related to the vessel’s certificate, condition, etc. The Buyers shall not raise objections to the defects such as the quality of the vessel for any reason.  The Buyers shall be deemed to confirm accepting the vessel’s condition if they did not inspect the vessel at the nominated time within the prescribed inspection time.

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.

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. In the bidding, the Sellers shall provide the proforma invoices of the Purchase Price and the ROB Charges. All expenses incurred after the handover of the vessel and all taxes incurred during the transfer shall be borne by the Buyers themselves.

5.4. This auction does not contain the remaining bunkers, VSAT and other leased items stored with the ship (if any). 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, market price of Platts Singapore on the THREE (3) business days prior to the date of delivery to be applied.

5.5. By the delivery time of the vessel, all expenses and custody responsibilities of the target before the handover of the vessel shall be borne by the transferor; after the handover of the vessel, the expenses and risk responsibilities of the target shall be borne by the Buyers, and the custody responsibility of the target shall also be borne by the Buyers. If there is any other agreement in the Sales and Purchase Contract (or MOA), the agreement in the Sales and Purchase (or MOA) signed by the Buyers and the Sellers shall prevail.

6.This Announcement is described in both Chinese and English. In case of any discrepancy between the two languages, 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.

March 22nd, 2024