Auction Announcement of PEACE from Ningbo Maritime Court (Sell off)

We will hold a public selling of PEACE on www.shipbid.net from 10:00 on July 14, 2016 to 16:00 on September 12, 2016 (except for the delay) for totally 60 days.

1. Selling Time:

a) The first stage of selling is from 10:00 on July 14, 2016 to 16:00 on July 22, 2016. The application deadline for this stage is 16:00 on July 21, 2016. The unified bidding time is from the 10:00-16:00 on July 20, 2016. If the sale of this stage is not completed, then comes to the second stage of the sale.

b) The second stage of selling is from 10:00 on July 23, 2016 to 16:00 on July 29, 2016. The application deadline for this stage is 16:00 on July 28, 2016. The unified bidding time is from the 10:00-16:00 on July 29, 2016. If the sale of this stage is not completed, then comes to the third stage of the sale.

c) The third stage of selling is from 10:00 on July 30, 2016 to 16:00 on September 12, 2016. The application deadline for this stage is 16:00 on September 9, 2016. The unified bidding time is from the 10:00-16:00 on September 12, 2016. If the sale of this stage is not completed, then the sale is closed.

2. Selling Object:

PEACE Bulk Ship

Port of Registry: BELIZE; Length overall: 189.98m; Molded breadth: 32.26m; Molded depth: 18m; Gross Tonnages: 32355t; Nett Tonnages: 18118t; Power of Engine: 9480KW/h; International navigation without limited navigation area; Operating sea area:  A1+A2+A3; Completion: July, 2011. Zhejiang Jiangtiao Shipyard.

3. Selling Foundation: According to the implement order No.853 of Ningbo Maritime Court (2015), we decide to sell the PEACE publicly.

4. Viewing Date and Location: The ship is now parked in Sanmen Port, Taizhou. From now on, the consultation and viewing is accepted. Interested bidders could register through the Shipbid (http://www.shipbid.net ), and pay a deposit To Ningbo Ship Exchange Market. The deadline of registration and payment of the deposit is the date each announcement of various stages has mentioned. (Account name: Ningbo Ship Exchange Market Co.Ltd. Bank Name: China Hengfeng Bank, Ningbo branch. Account number: 857410010122802201) The auction object shall be subject to the present condition of the object, and the court shall not bear the liability for the warranty against defects of this object. Interested bidders please personally view the object. The bidders, who don’t view the object by themselves, acquiescently acknowledge the current status of object, and the responsibility will be dear on their own.

Reminder: After the registration and deposit payment is completed, please be sure to contact with the Shipbid to verify the registration and deposit all be done successfully.

Bidding Rules:

5. The sale price of it is 32.8 million yuan, and bid increments are a multiple of 50,000 yuan. The deposit is 5 million yuan. This sale has no reserve price. When there is someone bidding, the buyer is determined by bidding; when there is no one bidding: 1 applicant registers, the bidding automatically deal, more than 2 applicants, the early deposit transfer decides who deal without bidding.

There is a certain amount of heavy oil left in the cabin, it shall not be included in the sale of the ship, and the price shall be negotiated by the buyer and the agent entrusted by the executed person considering the market price. If the negotiation failed then the price shall be decided by the court.

6. On the issue of whether the sale object could handle formalities as registration and naturalization of ship and the date of handling these formalities, the bidder should consult and confirm it from the relevant functional departments. And the transfer procedures shall be handled by the buyer. The responsibilities of not handling or delay to handle the formalities due to the current condition or defect of the sale object should be borne by the buyer. All the taxes and fees involved are borne by the buyer.

7. Person who is concerned with the object, [the party of the case, the guarantor (the pledgee), the priority bidder, etc.] can participate in the auction. Those who do not participate in the auction, please pay attention to the whole process of this auction. If the preferred bidder of this auction did not participate in the auction, it seems like he gives up the right of priority bidder.

Technical advisory telephone of Ningbo Ship Exchange Market: 0574—86815581 27966278

Viewing Contacting Person: Luo Zhishun

Viewing Contacting Phone: 0574-87888862

Supervise Phone: 0574-87880691

Ningbo Maritime Court

July 5, 2106.

TRANSACTION RULES FOR THE SHIPBID

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

Article 2 The Transaction Rules of the Shipbid (hereinafter called the Shipbid) is suitable for standardizing all the behaviors. All the parties involved should abide by each term of the Rules and bear legal responsibilities for their own behaviors.

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

Article 4 The auction announcement and other documents will be formulated by the auctioneer.

Article 5 The lot information including videos, pictures and written introductions offered by the Seller will be uploaded through the shipbid system after verified by the auctioneer.

Article 6 The Seller shall take all the legal responsibilities and economic losses if he provides with fake information.

Article 7 The bidders could not participate in the shipbid activities until they register as the buyers through the shipbid system.   

The 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 8 Before submitting the application for the shipbid, the bidders should carefully read the auction announcement, ship’s particulars, transaction rules and other relevant documents, then login the shipbid system to fill in true and effective information as required.

Article 9 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 10 The bidders themselves apply on the shipbid system, and pay the deposit either on line or offline. Foreign bidders could also apply for bidding against the Letter of Guarantee of bank with the auctioneer’s word.

One deposit 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) or the original Letter of Guarantee delivered to the auctioneer (based on the arrival time of the Letter of Guarantee to persons in charge) within the required time. The bidders shall not be eligible for bidding if the deposit is delayed or not fully paid or the Letter of Guarantee is not received on time.

Article 11 The shipbid shall be conducted at a 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 a bid with reserve price, “YES” will be revealed in the system. Otherwise it will display “NILL”.

Article 12 The bidder shall make a cautious bid, and the offer will be irrevocable once submitted.

Article 13 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 reset.

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

Article 14 Once there is/are (a) bidder offer(s) in the shipbid, the target bidder shall be confirmed in accordance with the following rules (hereinafter called the Buyer)

(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 auction will be pass.

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

Article 15 The Buyer should confirm his qualification with the enterprise or individual valid certification to the auctioneer within 3 working days after the bidding. After verification and confirmation, the Buyer should sign the Purchase Confirmation.

If the Buyer's qualification is not approved, the bidding result should be invalid, the deposit would be confiscated, and the lot should be bid again. The Buyer should pay the commissions for both parties due to his breach of the contract; Also, the previous Buyer should pay the price differences if the final purchase price is lower than the first purchase one.

Article 16 The payment of balance shall be remitted to the nominated account in due time against the Purchase Confirmation.

Article 17 The Buyer should sign Sale and Purchase Agreement against the Purchase Confirmation with the seller within the required time and make relevant transaction procedures.

Article 18 The auctioneer should publicize the auction results through the shipbid system after the bidding.

Article 19 After paying the balance, the Buyer himself should accept of subject lot and apply the transfer formalities in time. If the Buyer fails to apply within required time, he himself should pay the costs caused by delay acceptance and afford the consequences of possibility of damage or losses.

Article 20 The Buyer himself registers the subject lot and bear all relevant expenses incurred against the regulations and policies in the transaction procedures.

Article 21 The currency of the auction is denominated in RMB. Both the starting price and purchase price do not include any expenses and taxes incurred during transaction registration.

Article 22 If the bidder obstruct others to bid, manipulate or monopoly the bidding price, or malicious collusion, the bidding qualification will be cancelled once above behaviors are found and relevant legal responsibility will be borne by the bidder.

Article 23 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 shipbid will not suspend.

Article 24 The auctioneer has the right to suspend or withdraw the auction before it starts according to the laws and regulations.

As for time concerned in the shipbid, except arrival time of deposit into the account that should be subject to the banking record time, others shall be subject to the shipbid system serve time.

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