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 September 27th, 2024.

1. Bidding Object:：

MT “ES SPIRIT”, Oil tanker / Chemical tanker(IMO II);

Hull Structure: Double hull;

IMO: 9845075;

Flag: Liberia;

Class: BV;

LOA: 139.980m; MLB: 20.200m; MLD:11.200m;

GRT: 8916; NRT: 4435;

Summer DWT: 13799.7t at Draft 8.20m;

Cargo Tanks: 12+2(sludge tank); Total Tanker capacity:16215.124m3;

Tank type: Epoxy Coating; Crane: 1 set x 10t;

Cargo Pump: 3 sets x 750m3/h, Screw pumps;

Bow Thruster: SJMATEK SCT110-FP, 1set x 315 kw;

Tank Heater: Steam heating SS coil;

BWTS: Fitted (HANLA IMS,CO.LTD, EG0500-Ex);

M/E: YUCHAI YCMGD W5X35-B x 1 set, 3575kW@142rpm (Tier II);

Built Time: January 2nd, 2020;

Builder: Samjin Shipbuilding Industries Co.,Ltd.

(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 reserved price. If there is only one bidder participating in the bidding, the potential transfer of the Vessel will be confirmed automatically 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 bidding. No one has the preemptive right to the transfer of Vessel.

2.2 The starting price is USD14.0 million, and the bidding deposit is USD2.1 million (or RMB15.0 million); Bid increment is a multiple of USD 0.02million.

2.3 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.

2.4 The bidding deposits of the unsuccessful bidders shall be returned within TWO (2) Banking Days after the bidding without interest.

2.5 If the Buyers pay the deposit in CNY, the Buyers shall remit USD2.1 million within TWO (2) Banking Days after signing Auction Confirmation. The bidding company shall return the CNY deposit fully back to the Buyers within TWO (2) Banking Days after the receipt of the USD deposit.

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

3. Registration requirements:

3.1 Registration is available from the date of this Announcement and ends 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 3-5 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, the bidders shall be deemed to have fully known, accepted and complied with the contents of this announcement, bidding rules, special provisions, attachments and relevant agreements.

3.2 Any corporation or organization in and outside the Peoples Republic of China with legally existing may participate in this bidding.

3.3 The bidders 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》（详见附件）

● 竞拍保证金付款凭证

(2) For overseas bidders:

● Certificate of Incorporation

● Articles of Incorporation

● Copy of Director’s Passport

● Undertaking for Bidding (please check the Supplement)

● Bank slip of bidding deposit

4. Inspection of the Object:

Inspection is to be determined, please confirm with the bidding company for details.The transferor will provide a survey report issued in May 2024 for reference only.

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.：

● 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

(2) USD Acct.：

● 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

● Remittance Reference: ES SPIRIT

6. Contacts:

Ms. Wen: +86 18058087023/ 0580-2038333

Ms. Wang: +86 18267365565/ 0580-2038333

E-mail: auction@shipbid.net

Zhejiang Shipping Exchange Co., Ltd.

Zhoushan Yi Ge Ship Auction Co. Ltd.

August 30th, 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 buyers 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”.

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.

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 Purchase Confirmation.

Article 16 The Buyer should sign the Sale and Purchase Contract by the Purchase 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 additional provision is a supplement to the bidding announcement and rules, which has the same legal effect.

2. Bidding Object:

MT “ES SPIRIT”, Oil tanker / Chemical tanker(IMO II);

Hull Structure: Double hull;

IMO: 9845075;

Flag: Liberia;

Class: BV;

LOA: 139.980m; MLB: 20.200m; MLD:11.200m;

GRT: 8916; NRT: 4435;

Summer DWT: 13799.7t at Draft 8.20m;

Cargo Tanks: 12+2(sludge tank); Total Tanker capacity:16215.124m3;

Tank type: Epoxy Coating; Crane: 1 set x 10t;

Cargo Pump: 3 sets x 750m3/h, Screw pumps;

Bow Thruster: SJMATEK SCT110-FP, 1set x 315 kw;

Tank Heater: Steam heating SS coil;

BWTS: Fitted (HANLA IMS,CO.LTD, EG0500-Ex);

M/E: YUCHAI YCMGD W5X35-B x 1 set, 3575kW@142rpm (Tier II);

Built Time: January 2nd, 2020;

Builder: Samjin Shipbuilding Industries Co.,Ltd.

All the information and data provided in the Bidding Announcement, Special Provision 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 delivery (on an as-is-where-is basis in its state and condition). 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 Seller and us shall not assume take any liability for defects or quality problems of the bidding vessel.

3. After Bidding:

3.1. After a successful bidding, the Buyers shall send an Auction Confirmation to the Bidding Company on the same day (the”Bidding Day”) by email or facsimile. The Buyers shall sign an original Auction Confirmation with the Bidding Company within TWO (2) Working Days of the Bidding Day.

3.2 The Buyers shall sign MOA with the Sellers within THREE (3) Calendar Days after completion of biding. The bidding deposit paid by the Buyers shall be automatically converted to the purchase deposit after signing the MOA.

The MOA shall be signed as attached, which forms part of Bidding Announcement and has the same effect as the terms in Bidding Announcement. The Bidders who applied for the auction shall be deemed to accept the full terms of the attached MOA drafted by the Sellers. No modification of the MOA will be allowed, except filling with the necessary information (e.g. Buyers’ information, Purchase Price, signing date, etc.), or others terms mutually agreed between the Sellers and the Buyers. In the event of any conflict or ambiguity between MOA and this public auction regulations (including the bidding announcement, bidding rules, special provision, etc), the MOA signed both by the Sellers and the Buyers shall prevail.

3.3 It’s acknowledged the Transaction Service account designated by the Zhejiang Shipping Exchange Co., Ltd.(ZSE) for the Buyers and the Sellers to hold and release the funds of the Purchase Price without interests and the Transaction Service Agreement shall be signed within THREE (3) Calendar Days after completion of biding by the Buyers, the Sellers and ZSE.

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 Buyers shall lodge the balance of the Purchase Price and other delivery monies (if any) to the Transaction Service Agreement within 1 banking day after the Sellers send 5 days’ notice with approximate delivery date to the Buyers.

After signing the Protocol of Delivery and Acceptance (PODA) & Joint Release Letter, the bidding company shall release all the purchase funds and other delivery monies which received from the Buyers to the Sellers within Two (2) banking days without interests.

3.5 The Purchase Price shall be settled in US Dollars. If the Buyers is of a domestic enterprise, the Buyers shall entrust the import agent nominated by the bidding company and be responsible for importing matters (including but not limited to exchange money, payment, etc), and the import-related expenses shall be borne by the Buyers. The port disbursement occurred before delivery (if any) to be for the Sellers’ account, while that occurred after delivery to be for the Buyers’ account.

3.6 If the Buyers fail to sign the MOA or the Transaction Service Agreement as scheduled, the Sellers shall be entitled to confiscate all the bidding deposit paid by Buyers but without prejudice to the Sellers’ right to claim their losses against the Buyers. If, after the signing of the MOA and the Transaction Service Agreement, the transaction service account is failed to open due to the Buyers’ reasons, or the Buyers fail to pay the balance of Purchase Price on time as prescribed in the MOA, the Sellers shall have the right to cancel the MOA and be entitled to confiscate all the Purchase Deposit paid by Buyers but without prejudice to the Sellers’ right to claim their losses against the Buyers.

3.7 If the Buyers' 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 Sellers. No later than THREE (3) Banking days after breaching the bidding rules (such as not signing Auction Confirmation / MOA / Transaction Service Agreement / fail to pay the bidding deposit denominated in US dollars in full and on time (if the bidding deposit paid in RMB) 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 Sellers.

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

4.1 The original owner (as the Sellers) should complete all the deletion procedures relating to the Vessel within Five (5) working days after the Protocol of Delivery and Acceptance signed, dated and timed arrive at the Sellers.

The Earliest Delivery Date: October 8th, 2024

The Latest Delivery Date: November 30th, 2024

If the Delivery indeed has to be postponed due to force majeure factors or emergencies, a new Latest Delivery Date should be mutually agreed by the Sellers and the Buyers.The provisions of the MOA shall prevail.

4.2 Delivery Place: The Vessel shall be delivered and taken over by the Buyers at a safe port in the range of China, Korea or Japan, at the Sellers’ option. The Sellers shall send the notice with intended delivery time and place in advance.The provisions of the MOA shall prevail.

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

4.3 Delivery Condition: The Vessel shall be delivered and taken on an “as is where is” basis in its state and condition on condition at the time of delivery.The provisions of the MOA shall prevail.

4.4 Documents provided on closing shall be mutually agreed and addendum to be signed by the Sellers and the Buyers as prescribed in MOA .

4.5 Two (2) attachments in total (Undertaking for Bidding, draft MOA). Please download and check the details.

5. Related Expenses:

5.1 Bidding service fee: The buyers must pay the bidding company 1% of the Purchase Price as bidding service fee not later than 16:00 September 30th, 2024 (Beijing Time).

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 shall provide with commercial invoices of the Purchase Price. All the taxes, expenses and costs incurred after the vessel delivery shall be borne by the Buyers themselves.

5.4 The remaining fuel/lubricating oils/hydraulic oils/grease is not included in this bidding. On delivery, the Buyers and the third party representative designated by the Sellers shall take measurement of the remaining bunkers and unused lubricating/hydraulic oils/grease. The actual charges shall be settled between the Buyers and the third party designated by the Sellers according to the actual measured amount on the day of delivery, and the time of payment shall be subject to the MOA.

The Buyers shall take over the remaining bunkers at:

(a) The last actual net price as evidenced by invoices or vouchers;or if such invoices or vouchers not available, the Platts Singapore bunker price on the Three (3) working days prior to the delivery date shall be applied.

The Buyers 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 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) working day prior to the date of delivery date shall be applied. The Buyers shall pay actual ROB charges as per MOA.

5.5 The Vessel with everything belonging to her shall be at the Sellers' risk and expense until she is delivered to the Buyers, while the Vessel’s risk and expenses shall be for the Buyers’ account after signing Protocol of Delivery and Acceptance under MOA.

5.6 All matters related to the transaction of the vessel shall be subject to the MOA signed by the Buyers and Sellers, and the agreement in the MOA shall prevail.

5.7 The items on board which on hire or owned by third party, are excluded from the sale without compensation: Please refer to the MOA.

6. Other Disclosure：

1.The Vessel shall be delivered and taken on with the Conditions of Class. According to the "Survey Status Report" issued by the Class on August 30th, 2024, the current condition of class for the vessel is as follows.

Conditions of Class-lSPS Code Non-Conformities

Ref. No.SGP0/2022/S5282

Content:Crew listed in the SSP Appendix 2 Section 7 “ship security duty & responsibility -in port & at sea” did not tally with the actual crew on board.

The Sellers declare to have taken and implemented the agreed corrective actions on May 27th, 2022.

The effective implementation will be verified and the Non-Conformity will be cleared by Bureau Veritas during the next scheduled audit.

The Bidders who applied for the auction shall be deemed to accept this situation. The Buyers shall not raise any objections to the bidding results or delivery status or use it as a reason for refusing to accept the vessel.

2.Disclosure Schedule to be collected from the bidding company.

Refer to other important imformation disclosed by the Sellers about the Vessel, please collected from the Bidding Company, and shall be signed together with the "Undertaking for Bidding".

7. The announcement in Chinese and English respectively, in the event of any discrepancies between the Chinese and English versions, the Chinese version shall prevail.

8. 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.

August 30th, 2024

MOA - ES Spirit.pdf

ES Spirit-undertaking for bidding.pdf