Entrusted by the transferor (the Sellers), we have scheduled to hold a public bidding online without a reserved price at 10:00 (Beijing Time) on September 3rd, 2024.

1. Bidding Object:

Name: Zhe Hai 362, Bulk Carrier;

PoR: Hangzhou, China;

Class: CCS;

Trading Area: A1+A2;

LOA: 179.88m; MLB: 28.80m; MLD: 14.60m;

GRT/NRT: 22382/12533;

DWCC: 33000t @ 10.270m draft;

M/E: B&W6S42MC-MK7 x 1 set;

Crane: Wuhan Marine Machinary H305190-240, 30.5T*4 sets;

Built: April 23th, 2010;

Builder: Zhejiang Tenglong Shipbuilding Co., Ltd (Data and relevant information provided in this announcement are for reference only)

2. Starting price is RMB 39.23million, and the bidding deposit is RMB3.93million (or USD 0.56 million)

RMB Account of Bidding Deposit：

●Beneficiary: 浙江产权交易所有限公司船舶交易分中心

●Account No.: 571905357610827

●Beneficiary Bank: 招商银行杭州分行营业部

USD Account of Bidding Deposit：

●Beneficiary: ZHEJIANG PROPERTY & STOCK EXCHANGE CO LTD.

●Account No.: 7331111482600001073

●Beneficiary Bank: China CITIC Bank,HANGZHOU Branch.

●Swift Code: CIBKCNBJ310

3. Date of Registration and Inspection:

From now on until 17:00 (Beijing Time) on September 2nd, 2024. And the inspection date will be notified separately.

4.For other detailed information, please log in https://www.zjpse.com, http://www.shipbid.net.

5. Property Rights Trading Institution

1) Zhejiang Property & Stock Exchange Co., Ltd.

Address: 18/F, Building 4, Wangjiang International Center, No.332 Wangjiang East Road, Shang cheng District, Hangzhou.

2) Zhejiang Shipping Exchange Co., Ltd. (Ship Trade Center)

Address: 6/F, Bulk Commodity Trading Center, No. 555 Wengshan Road, Lincheng, Zhoushan.

6. Transferor: Zhejiang Shipping Group Co., Ltd.

Address: Floor 8, Zhejiang Jiaotong Building, No. 303 Wenhui Road, Gongshu District, Hangzhou City, Zhejiang Province.

Contacts: Mr. Bao +86 0571-87095861

7. Contacts:

Mr. Zhou: +86 18058087036 / 0580-2038882

Ms. Chen: +86 18058087026 / 0580-2038358

Mr. Shen: +86 0571-87710242

Zhejiang Property & Stock Exchange Co., Ltd.

Zhejiang Shipping Exchange Co., Ltd.

August 5th, 2024

1. Bidding and Commitment (Fixed text)

We voluntarily participate in the bidding activities organized by the “e.zjpse.com” platform (namely an online comprehensive trading platform built by Zhejiang Property & Stock Exchange [Hereinafter referred to as ZJPSE] based on the Internet. Including ZJPSE website [Domain: zjpse.com], PC terminal and ZJPSE mobile APP and other platforms or systems) through Zhejiang Property & Stock Exchange Ship Exchange Center platform [Hereinafter referred to as “Ship Exchange Center” platform], namely “SHIPBID.NET” (Zhejiang Shipping Exchange Co., Ltd. [Hereinafter referred to as “Ship Exchange Center”]). Our true intention is expressed and irrevocably made as follows:

1) We hereby accept that “e.zjpse.com” platform and “Ship Exchange Center” platform adopt specific ways to organize this bidding, have a comprehensive understanding of the trading methods and rules, and voluntarily abide by the relevant provisions of “Bidding and Commitment”, “Bidding Rules”, “Special Provisions”, “Ship Purchase and Sale Contract” or MOA issued by the “Ship Exchange Center”, including but not limited to.

2) We have thoroughly reviewed and fully endorsed the disclosed content of the current bidding item, as well as completed comprehensive due diligence on this project. We acknowledge the present status of the bidding item and are fully aware of its circumstances. Based on relevant information, we independently decide to voluntarily and unconditionally accept all contents and disclosures contained in the public release of information regarding this bidding, including any accompanying attachments. We take full responsibility for our bidding actions and willingly bear any resulting consequences, including but not limited to those arising from incomplete or misunderstood information about the bidding item.

3) We understand and acknowledge that the “e.zjpse.com” platform and the “Ship Exchange Center” platform have fully, accurately and truthfully disclosed to us all the documents required to be disclosed based on the auction of this target, and the authenticity, completeness and accuracy of the specific contents of the disclosed documents are solely borne by the transferor, and the “e.zjpse.com” platform and the “Ship Exchange Center” platform do not bear any responsibility for this.

4) This transaction is the expression of our true will. There are no false records, misleading statements or major omissions in the relevant contents of the materials and applications submitted by us. All registration materials submitted, agreed and promised by us online are authentic, complete, effective and legitimate, and we promise to bear the corresponding legal responsibilities. The transaction item involving competitive negotiation further makes the following commitment on the basis of the above commitment: The representative has clearly authorized the right to modify the materials at the negotiation site, and the modified materials are our final confirmation materials.

5) We are a legal and validly existing legal person and can independently bear civil liabilities; we have good financial status, ability to pay and commercial credit, and the source of funds is legal, in accordance with relevant laws and regulations and the provisions of this auction target on the conditions that users should have. (Applicable to Legal Person)

6) We are a legal and validly existing nature person; we have good financial status, ability to pay and commercial credit, and the source of funds is legal, in accordance with relevant laws and regulations and the provisions of this auction target on the conditions that users should have. (Applicable to Nature Person)

At the same time, we further make the following commitments with respect to the above article 5: From the date of participation in this bidding procedure to the conclusion of this transaction, we promise that our business entity will not be divided, absorbed, merged, cancelled or revoked in any circumstances that may lead to the change or loss of the subject's legal subject qualification, civil rights capacity or civil capacity.

We have full capacity for civil conduct, and have good social reputation and payment ability, and the source of funds is legal, in line with the relevant laws and regulations and this subject should have conditions for users. (Applicable to Nature Person)

6) We shall be solely responsible for the security of the relevant user name, password and mobile phone number registered on the “Ship Exchange Center” platform. If any person uses our user name, password and mobile phone number to log in to the trading system, we agree that all his/her behavior in the trading system shall be regarded as our behavior, and we shall bear the consequences and responsibilities arising therefrom.

7) We guarantee that the real name (name) filled in when the user registers is consistent with our real name (name).

8) We agree that: Fill in the contact address correctly when filling in the registration information and ensure that the address is accurate, valid and deliverable, and agree that the “Ship Exchange Center” platform will send the “Confirmation of Bidding Transaction” and other electronic signatures to us through our personal center on the “Ship Exchange Center” platform. If the address provided by us is inaccurate, the address is not changed in time after the change or the documents are not checked in time in the personal center, the documents and letters cannot be actually received by us, we shall bear the losses and legal liabilities caused thereby. If the registration is successful, our registration information will be provided to the Transferor for the purpose of verifying our registration eligibility.

9) We agree that the “e.zjpse.com” platform, the “Ship Exchange Center” platform (with the consent of ZJPSE) and the Transferor have the right to suspend or terminate the auction before it begins without any recourse from us (including but not limited to liquidated damages, interest and all related expenses and liabilities). If the relevant contents of the bidding object change, the relevant contents or relevant supplementary instructions informed by “e.zjpse.com” platform and “Ship Exchange Center” platform before the bidding start shall be an effective part of the bidding materials.

10) The deposit we have paid shall be disposed of in accordance with the relevant provisions of the corresponding “Special Provisions”

11) After being confirmed as the transferee, we will confirm the transaction information and bidding record by email or fax on the day of the end of the bidding, and sign “Auction Confirmation” within 2 working days after the end of the bidding. We will sign the corresponding ship purchase and sale contract with the transferor within the time specified in the announcement with the signed “Auction Confirmation”, and pay the transaction service fee and transaction funds to the designated account in accordance with the regulations.

12) If we fail to sign the contract within the time specified in the announcement, the “Auction Confirmation” or any form of signing notice issued by the “Ship Exchange Center” platform, we agree that the project will be terminated, and the transferor has the right to take back the subject matter or re-list it after taking back.

13) We guarantee that we shall keep confidential the relevant project information and technical requirements obtained during the bidding process, as well as any materials (including written and non-written materials) formed during the bidding process. In case of any violation, we shall bear all relevant legal liabilities and compensate for all losses caused thereby to all parties.

14) We agree that the “e.zjpse.com” platform and “Ship Exchange Center” platform shall not bear any responsibility for the following circumstances:

a) The time of bidding shall be subject to the server time of the platform system of “Ship Exchange Center”. The bidder fails to participate in the bidding on time due to the discrepancy between the terminal equipment time and the system server time;

b) All the consequences caused by the disclosure of the registered account information caused by the bidder;

c) The bidder is unable to bid normally due to forgotten password, failure of its own terminal equipment or network abnormality;

d) If the bidding or the bidding results are affected by the system failure due to force majeure, software and hardware failure, illegal intrusion, malicious attack, network abnormality or other reasons of the platform system of the “Ship Exchange Center” platform, or the bidding is interrupted due to the suspension or termination of the bidding activities urgently requested by the transferor, market supervision, judicial and other regulatory authorities, The Ship Exchange Center and ZJPSE shall not assume any responsibility, and will organize continued bidding or re-bidding according to the circumstances, and notify each bidder through the platform system of “Ship Exchange Center”. Each bidder undertakes to voluntarily obey the arrangement and participate in the bidding on time, otherwise it will be deemed to give up the bidding automatically.

e) If the transferor revokes the object or force majeure or objective necessary reasons, “e.zjpse.com” platform and “Ship Exchange Center” platform (with the consent of ZJPSE) have the right to cancel or postpone the auction activity, the loss caused to the bidder shall be borne by the bidder themself. The bidder shall not claim the auction deposit interest and any other expenses and liabilities from the transferor, “e.zjpse.com” platform and “Ship Exchange Center” platform.

The way to continue bidding or re-bidding is as follows:

If the bidding record can be restored, the bidding shall continue with the highest effective bid at the time of interruption as the starting price; If the bidding record cannot be recovered, the reserve price shall be used as the starting price to re-bid.

f) All consequences caused by the disclosure of account information or abnormal bidding results due to illegal intrusion, malicious attack, network abnormality and other reasons of the interested party's system.

g) Other relevant exemption clauses stipulated by laws and regulations of the People's Republic of China applicable to Internet websites shall also apply to the platform of “e.zjpse.com” platform and “Ship Exchange Center” platform.

15) We guarantee to abide by the above commitments. In case of any violation of the above commitments or violations that cause losses to the relevant parties of the transaction, we are willing to bear legal liabilities and corresponding economic compensation liabilities.

2. Bidding Rules

1)  Registration Procedure

1.1) Registration process

1.1.1) Log in the “Ship Exchange Center” platform, namely "SHIPBID.NET" for users’ registration and real-name authentication.

Natural persons, legal persons and unincorporated organizations must register on the "SHIPBID.NET" before registration. (See the users’ guide, https://www.shipbid.net/regist.html?jumpPath=https%3a%2f%2fwww.shipbid.net%2fPPXXList.aspx%3fTB_PMLX%3d0).

1.1.2) Enter the intended target page for details, click the “application for bidding” button, fill in the relevant information according to the specific requirements of the project, upload the documents, complete the registration and pay the bidding deposit in accordance with the information disclosure requirements.

The domestic bidder shall pay the RMB bidding deposit to the depository bank of the “Ship Exchange Center” platform in accordance with the information disclosure requirements of the registered project. The operation path is: SHIPBID.NET - select the lot - makes payment according to the requirements of the corresponding account - the system will automatically review according to the actual receipt of the account. (Note: The completion of the payment order does not mean that the interested bidder has obtained the bidding qualification. If the final bidding qualification is not confirmed, the bidding deposit paid by the interested bidder will be returned in full without interest.)

Overseas interested bidders (including Hong Kong, Macao and Taiwan) shall pay the US dollar bidding deposit in accordance with the requirements of the information disclosure of their registration items to the designated account of Zhejiang Property & Stock Exchange (Account Name: ZHEJIANG PROPERTY & STOCK EXCHANGE CO LTD, Account Number: 7331111482600001073, Bank Name: China CITIC Bank,HANG ZHOU Branch, Swift Code: CIBKCNBJ310), overseas interested bidder (including Hong Kong, Macao and Taiwan) will be eligible to participate in the bidding after qualification confirmation and payment of all deposits (subject to actual receipt of the account). (Note: Payment of the bidding deposit does not mean that the interested bidder is qualified to bid. If the final bidding qualification is not confirmed, the bidding deposit paid by the interested party will be returned in full without interest.)

1.2) Qualification for bidding

The interested bidders that meet the requirements of the transferee indicated in this announcement or relevant regulations can actually participate in the bidding activities after passing the qualification examination in accordance with the “Documents required for registration of interested parties in Zhejiang Property & Stock Exchange “Ship Exchange Center” and completing the payment of the bidding deposit on the platform of the “Ship Exchange Center”. Bidders can check the qualification of their bid in the “Ship Exchange Center”.

2) Trading Instructions

2.1) Trading Instructions for On-line Auction

2.1.1) Definitions

On-line Bidding: refers to the behavior of organizing bidders to compete for the target through the platform of “Ship Exchange Center” according to the announced bidding method when the information disclosure of the target transaction expires and qualified bidders are generated. After obtaining the bidding qualification, the interested party can log in the “Ship Exchange Center” platform to participate in the bidding of the target within the bidding period, in accordance with the principle of "price priority, time priority", the one offer highest valid quotation after the expiration of the quotation period (if there is a reserve price, it must not be lower than the reserve price, the same below) shall be the transferee. Except for the exercise of priority matters involving the original shareholder, the original lessee and other owners of the property community (the aforementioned subjects who enjoy the legal preemptive right, preemptive right or the legal provisions such as the preemptive right of parking space of the community owner [hereinafter referred to as the “priority person”] are entitled to the prior or prior to other interested parties and transaction parties due to the legal provisions). Online auction includes multiple offers and one offer. (Note: When only one qualified bidder is collected, the bidder is determined as the transferee after the expiry of the information disclosure period, and the listing starting price is the final transaction price.)

Listing: refers to the behavior of property rights trading institutions entrusted by the transferor to publicly solicit interested bidders on the subject through the “Ship Exchange Center” platform.

Bidding deposit: refers to the deposit paid by the interested bidders in accordance with the requirements of the transferor for the bidding activity before it starts in order to ensure the safety and effectiveness of the bidding activity.

Interested bidders: refers to the intended bidder who intends to enter the quotation hall of the “Ship Exchange Center” platform to participate in the quotation activities, but has not yet obtained the qualification for bidding.

Bidding qualification: refers to the qualification of the interested bidder that meets the requirements of the transferee indicated in this announcement or relevant regulations and can actually participate in the bidding activities after passing the qualification examination in accordance with the documents required for the registration of the interested bidder and completing the payment of the bidding deposit on the platform of the “Ship Exchange Center”.

Bidder: means the interested bidder that has obtained the qualification to quote the transaction target.

Transferee: means the bidder who wins the bidding with the highest valid bid.

2.2.2) Bidding description

2.2.2.1) This bidding is conducted under the principles of openness, fairness, justice, honesty and credit, and all activities have legal effect.

2.2.2.2) The “On-line bidding Trading Instructions” (hereinafter referred to as “Trading Instructions”) is formulated in accordance with relevant laws and regulations.

2.2.2.3) The interested bidders shall carefully read, know and abide by the provisions of the “Transaction Instructions” when participating in this online bidding activity. The interested bidders shall carefully read and fully understand the contents of the provisions, especially the provisions on exemption or limitation of liability, application of law and dispute resolution. The terms of exemption or limitation of liability shall be marked in bold, and the intended party shall focus on reading them. After reading and agreeing, please continue the subsequent operation, and the subsequent behavior of the intended party on the platform of “Ship Exchange Center” shall be deemed that the intended party has irrevocably agreed to all the terms hereof (including but not limited to the bold part of the terms hereof).

2.2.2.4) Please refer to the “e.zjpse.com” platform and the “Ship Exchange Center” platform for information disclosure. If there is any error between the disclosed information and the current situation of the target and the actual situation of the quotation system, the valid documents and the actual situation shall prevail. The introduction of the target (including the name, text description and other relevant information of the target) on the “e.zjpse.com” platform and the “Ship Exchange Center” platform is completely based on the information provided by the transferor/lessor. It is a general introduction and is only for reference, and does not constitute a guarantee of the state, quality and defects of the target. The defects of the target do not affect the total transaction price. All descriptions and interpretations of the subject target by the staff are for reference only and do not have any legal effect; “e.zjpse.com” and “Ship Trade Center” platform have fully and truthfully disclosed the subject target information provided by the transferor/lessor, which does not mean that all defects of the subject matter, especially hidden defects, can be fully revealed.

The descriptive words of the subject target such as the name stated in the transaction authentication documents issued by ZJPSE and the relevant target invoice shall not constitute a guarantee of the state, quality or defect of the subject matter.

2.2.2.5) The “e.zjpse.com” platform and the “Ship Exchange Center” platform require the interested bidders to carefully examine the target and read the instructions, understand all the conditions of the target by themselves through various parties, and make their own judgment on the possible defects of the target and possible problems in the future. The interested bidders’ participation in the quotation indicates the recognition and acceptance of the current status of the subject target and all defects of the subject target, and the interested bidders shall bear all legal liabilities for the result of the transaction. The “e.zjpse.com” platform and the “Ship Exchange Center” platform hereby solemnly declare that they do not bear any responsibility for the defects of the target and not assume guarantee responsibility for the quality of the target. The interested bidders shall, by themself or by a designated person, understand the conditions of the subject target, make careful judgments, and bear the transaction risks by themself.

2.2.2.6) The interested bidder shall carefully read the disclosure contents involved in the project, including but not limited to the registration documents, and have the responsibility to understand the status of the target by themself and carefully inspect or conduct due diligence on the target (the transferor/lessor shall be responsible for organizing or assisting the interested bidders to inspect or conduct due diligence on the target). If there is any objection to the target, it should be raised before submitting the registration document. After submitting the registration documents and paying the bidding deposit, the interested bidders shall be deemed to have read and fully recognized the contents disclosed in the project and completed the review or due diligence of the subject target, indicating that it has fully understood and voluntarily accepted all the current status and defects of the subject target, does not raise objections to the contents of the registration documents in any form, and voluntarily assumes all transaction risks. After the interested bidder has registered for bidding, it shall not back out for any reason such as failing to consult in advance, and the responsibility shall be borne by the interested bidders.

2.2.2.7) If the interested bidders are joint bidders, the consortium members shall sign a joint bidding agreement; the agreement shall specify the proportion of the consortium members to be transferred, specify the leader of the joint bidding, and the leader shall be responsible for handling the specific bidding matters. A member of a consortium may no longer participate in bidding separately in its own name, nor may it become a member of another consortium at the same time. (Applicable to the project does not prohibit joint bidding).

2.2.2.8) If the project involves the right holder who does not give up the right of priority (including but not limited to the original lessee's right of priority to purchase and the original lessee's right of priority to lease, etc.), the right holder who does not give up the right of priority (hereinafter referred to as “the right holder”) shall register on time, pay the bidding deposit, and enter the on-line auction system for quotation. (Applicable when the project involves priority)

2.2.2.9) If the transferee fails to sign the transaction contract with the transferor and fulfill the relevant obligations according to the quoted price and the conditions and requirements stipulated in the listing announcement of the subject target within the time specified in the information disclosure of The “e.zjpse.com” platform and the “Ship Exchange Center” platform after the completion of the project, it shall bear all legal liabilities. The balance of the bidding deposit paid after deducting the transaction service fee shall not be refunded, and shall be used in turn to pay the loss caused by the dynamic quotation activities and make up the difference between the re-listing transaction price and the transaction price of this transaction price (except for force majeure factors or reasons of the transferor).

The judgment of the breach of contract in this article shall be subject to the final and effective judgment made by the people's court or the competent arbitration institution, or to the conclusion reached by the parties to the transaction; ZJPSE and ZJPSE Shipping Exchange Center shall handle the bidding deposit accordance with the above materials strictly.

If the relevant judicial, law enforcement or administrative authorities explicitly issue written materials requiring the bidding deposit to be disposed of separately, ZJPSE and Ship Exchange Center shall dispose of the bidding deposit strictly accordance with the requirements of the above authorities.

2.2.2.10) If the target is re-listed due to the abandonment of the assignment by the designated transferee in breach of contract, the defaulting transferee shall not participate in the registration.

2.2.2.11) The handover of the subject matter and other procedures after the completion of the project shall be handled by the transferee and the transferor/lessor in accordance with the announcement, the agreement of the transaction contract and other relevant provisions. ZJPSE and Ship Exchange Center do not withhold taxes and fees payable by the parties concerned.

2.2.2.12) The price amount of all bidding objects shall be denominated in RMB.

2.2.2.13) After paying the balance, the transferee shall promptly hand over the subject matter and go through the transfer procedures on its own. If it fails to do so within the time limit, the transferee shall pay the expenses arising therefrom and bear the consequences such as damage, loss or other consequences that may occur to the subject matter.

2.2.2.14) The transfer registration procedures of the subject matter shall be handled by the transferee itself. In the process of handling the transfer procedures, all relevant expenses incurred according to the existing laws and regulations and policies shall be borne by the transferee.

2.2.3) Bidding rules

2.2.3.1) If only one interested bidder is collected until the deadline for bidding registration, the interested bidder shall be identified as the transferee after qualification confirmation and payment of bidding deposit on time (or two or more interested parties are collected but only one interested party has qualification confirmation and payment of the bidding deposit on time). The intended party is directly identified as the transferee); after the transferee is determined, the transferee shall sign a transaction contract with the transferor within the time limit stipulated in the information disclosure without changing the conditions of assignment and the terms of the contract. The transaction price shall be determined in accordance with the principle of the higher of the starting price of the bidding and the quotation of the competing bidder at the time of registration.

2.2.3.2) If two or more interested bidders are recruited until the deadline for bidding registration, and two or more interested bidders are qualified and pay the bidding deposit on time, the transaction shall be conducted through bidding, and the transaction price and the transferee shall be determined in accordance with the rules of this notice. After the transferee is determined, the transferee shall sign a transaction contract with the transferor within the time specified in the transaction arrangement without changing the conditions of assignment and the terms of the contract when the information of the subject matter of the transaction is disclosed.

2.2.3.3) The bidding shall be held at the time stipulated in the trading arrangement. In case of technical or other reasons, the “e.zjpse.com” platform has the right to request the “Ship Exchange Center” platform to delay the start time of bidding within a limited time. The delay time shall generally not exceed 1 hour, except in the case of special circumstances or force majeure.

2.2.3.4) During the bidding process, the bidders shall bid seriously. The bidders shall seriously and carefully consider and submit the quotation approved by themselves after confirmation, and shall not go back on his word, otherwise he shall bear all legal liabilities, and the bidding deposit paid by them shall be owned by the transferor after deducting the transaction service fee payable by him, and be responsible for compensating all economic losses caused thereby to the transferor, the “e.zjpse.com” platform the “Ship Exchange Center” platform. When other bidder makes a higher offer, the original offer shall lose its binding force. If the subject target has a reserve price, the highest offer of the interested bidder shall not take effect if it does not reach the reserve price.

2.2.3.5) The bidding method of online bidding is time-limited bidding, and the buyer shall offer the price during the time-limited bidding. Bidding according to the principle of time priority, price priority, the first bid (if the result of exercise, it is: the first bid in the first stage) cannot be lower than the starting price, the next bid must be higher than the last bid. The interested bidder shall bid with caution, and its bid shall take effect immediately after confirmation of the trading order entered into the on-line bidding system, and cannot be changed or withdrawn. The amount of increase for each bid can be found on the bidding page. If there is a reserve price, the system displays the words “Reserve price: Yes”; If there is no reserve price, the system displays "Reserve Price: None".

2.2.3.6) Time-limited bidding does not limit the number of bid periods, the trading system takes 5 minutes as the bidding period, and the limited time of bid period is shown on the bidding page. If there is a bid within the bidding cycle, the countdown of a new bidding cycle starts, and so on, until no competing buyer bids within a complete bidding cycle, and the time limit bidding ends. If the project does not involve the result of the exercise of the priority person, and there is no reserve price, and there is no price increase by the competing bidder within this limited bidding cycle time, the highest bid in the last round is the transaction price, the bidder who offer the highest effective bid is the transferee of this target, and the bidding activity for this target is ended. After the bidding is finished, the system will automatically pop up the result. If the project has a reserve price, the competing buyer with the highest valid bid not lower than the reserve price shall be the transferee of the subject matter; If the highest valid bid is lower than the reserve price, the project will not be closed. If the project involves the result of the exercise of the right of the priority person, the transferee is determined according to the “Special Provisions”.

2.2.3.7) If there is no bid within the bidding period, the latest bidding column will display no bid. If no bid is still displayed in this column until the bidding time ends, it will be deemed that all competing buyers have automatically abandoned the bidding.

2.2.3.8) Details of the handling of deposit and the priority rights rules are set out in the “Special Provisions”.

2.2.3.9) The bid of the competing bidder may be withdrawn or modified before being confirmed by the bidding system, and shall not be revoked once confirmed.

2.2.3.10) The transferee shall sign a transaction contract with the transferor in accordance with the “Ship Purchase and Sale Contract (Sample draft)” and attachments disclosed on the website within the time specified for information disclosure on the “e.zjpse.com” platform the “Ship Exchange Center” platform (except for relevant information of the transferee and hand-written terms such as "price" clause in the transaction contract, other terms have been determined and cannot be modified). Once the transaction contract is signed, the transferee shall not be changed.

2.2.3.11) The transferor has the right to withdraw the target before the bidding of the on-line bidding time limit. If the transferor revokes the bid or due to force majeure or objective necessary reasons, ZJPSE has the right to request Ship Exchange Center to cancel or postpone this on-line bidding activity, and the loss caused to the bidders shall be borne by themselves. The bidders shall not claim interest on the bidding deposit and any other expenses and liabilities from the transferor, ZJPSE and Ship Exchange Center.

2.2.3.12) Except for the bidding rules mentioned in this notice, the remaining trading arrangements shall be subject to the trading arrangements issued by ZJPSE and Ship Exchange Center after the expiration of the information disclosure period.

Special Provisions

1. Transaction service fee clause

If we become the transferee, we will pay the transaction service fee in accordance with the information disclosure requirements of the project.

(Applicable to domestic transferees (Hong Kong, Macao and Taiwan excluded) We agree that you will deduct this fee from the bidding deposit paid by us. If there is any shortage, we will make up the amount within 3 working days after we are determined to be the transferee.

(Applicable to overseas transferees (including Hong Kong, Macao and Taiwan) We promise to pay the transaction service fee (RMB) to the designated account of Zhejiang Property & Stock Exchange (Account name: 浙江产权交易所有限公司，Account number: 7331110182600113453, Bank name: 中信银行杭州天水支行) within 3 working days after being confirmed as the transferee.

Details as following:

The fee amount of assets (excluding real estate) projects shall be calculated based on the transaction amount and shall be calculated by the graded descending accumulation method. Specific criteria are as follows:

2. Deposit Handling Clause

1) After the end of the bidding activity, if the bidder is not identified as the transferee, and there is no situation that the bidding deposit should be deducted or not returned as stipulated by the “e.zjpse.com” platform and the “Ship Exchange Center” platform, the deposit submitted by the bidder shall be returned without interest within 10 working days after the end of the bidding activity.

2) (Applicable to domestic transferees (Hong Kong, Macao and Taiwan excluded) After the transferee is confirmed, the balance of the bidding deposit paid by the transferee after deducting the transaction service fee payable by the transferee will automatically become part of the transfer price.

(Applicable to the overseas transferee (including Hong Kong, Macao and Taiwan)) After the overseas transferee is determined, the bidding deposit paid by it will be converted into an integral part of the transfer price.

3.Price increase

1-1： [On-line bidding]

The price increase of each quotation is RMB 20,000 or integer multiple of RMB 20,000, and the minimum price increase is RMB 20,000 only.

4. Other matters

After receiving the transaction contract or MOA signed by both parties, the entire transfer price, the transaction service fee of both parties and the ship protocol of delivery and acceptance, Zhejiang Property& Stock Exchange shall issue the transaction certificate to both parties in time.

1. Bidding Object:

The bidding object is MV "Zhe Hai 362", and the Registry Certificate is valid until April 22^nd, 2025. The Certificate of ship inspection is within the validity period.

Name: Zhe Hai 362, Bulk Carrier;

PoR: Hangzhou, China;

Class: CCS;

Trading Area: A1+A2;

LOA: 179.8m; MLB: 28.80m; MLD: 14.60m;

GRT/NRT:22382/12533;

DWCC: 33000t @10.270m draft;

M/E: B&W6S42MC-MK7 x 1 set;

Crane: Wuhan Marine Machinary H305190-240, 30.5T*4 sets;

Built: April 23, 2010;

Builder: Zhejiang Tenglong Shipbuilding Co., Ltd (Data and relevant information provided in this announcement are for reference only)

2. Special Note:

2.1 Bidders must have a thorough understanding of the bidding object on their own. When participating in the bidding, they must fully consider the risk of potential value changes or other changes in the above-mentioned object during trading and delivery, decide their own bidding price, and bear legal responsibility for their bidding behavior. The introduction and evaluation of this bidding object by property rights trading institutions and bidding company are for reference only, and do not guarantee the quality or authenticity of the bidding object, and do not assume any responsibility for the defects of the bidding object.

2.2 If the bidder has objections to the bidding object, they should raise them before applying for bidding. If the bidder registers to participate in the bidding, it shall be deemed that there is no objection, which means that the bidder has fully understood this agreement and is willing to fulfill it.

2.3 If the transferee fails to complete the payment of the transaction funds within the agreed period, it shall be deemed as a breach of contract and shall bear all legal responsibilities. The bidding deposit submitted by the transferee shall be directly paid by the property rights trading institution to the transferor.

2.4 Once the "Auction Confirmation" and the asset trading contract are signed, the transferee cannot change their name.

2.5 All expenses, including service fee, incurred during the asset trading process shall be borne by the transferor and transferee respectively in accordance with regulations. After the bidding is completed, the transferee must pay the service fee. The Service Fee will be calculated as the aggregate amount of all parts according to below degressive rate based on the final transaction amount.

3. Other Disclosure:

3.1 From the starting date of the announcement to 17:00 (Beijing Time) on the expiration date, potential customers (bidders) will be collected and online bidding registration procedures will be completed. The intended transferee who meets the transfer requirements shall complete the online registration procedures and complete the payment of the bidding deposit on the "Ship Trade Center" before 17:00 (registration deadline) on the expiration date of the announcement. No registration will be accepted after the deadline.

3.2 During the announcement period, if the bidders have not been collected, the information disclosure will be terminated.

3.3 During the announcement period, if only one bidder is collected, the bidder shall sign a transaction contract or MOA with the transferor within 3 working days after being determined as the transferee.

3.4 During the announcement period, if two (or more) bidders are collected, the transfer shall be made using the disclosed transaction method at the time determined by the disclosure. The transferee shall sign a transaction contract or MOA with the transferor within 3 working days after the transfer is completed.

3.5 Delivery Place: A berth or anchorage within the coastal waters of Zhejiang Province (subject to the transferor's delivery notice). The transferee shall, after paying the full price, complete the ship delivery according to the transferor's estimated 10/5/3 day’s delivery note and exact delivery notice issued one day in advance. 

3.6 The transferor shall deliver the vessel as is where is and the Buyers shall take delivery of the ship at the delivery place notified by the transferor.

3.7 All expenses, including service fee, incurred during the asset trading process shall be borne by the transferor and transferee respectively in accordance with regulations.

3.8 The transfer object shall be subject to the current physical condition on site (excluding the remaining fuel oil and lubricating oil on board).

3.9 During the announcement period, the potential customers will be organized to conduct on-site inspection at the location of the bidding object. The potential customers must also provide the evidence of on-site inspection when registering. If there is no such, it will be deemed that the actual transfer scope of the asset and the corresponding physical objects have been confirmed.

3.10 The cost and risk of personnel involved in the boarding inspection shall be borne by the customers themselves, and the security guarantee letter must be signed with the transferor.

3.11 The bidders can download by themselves or request the registration files from the contact person.

● Mr. Zhou: +86 0580-2038882

Address: 6/F, Bulk Commodity Trading Center, No.555 Wengshan Road, Lincheng, Zhoushan City, Zhejiang Province.

● Mr. Shen: +86 0571-87710242

Address: Floor 18-19, Building 4, Wangjiang International Center, No.332 Wangjiang East Road, Hangzhou City.

4. Requirements for the Transferee

A. Main trade terms：

4.1 The starting price is RMB39.23 million.

4.2 Payment Terms: The transferee shall sign the "Sales and Purchase Contract" (or MOA) with the transferor within 3 working days after bidding successful. The funds shall be fully paid at one-time within 5 working days from the effective date of the contract.

4.3 When registering, the domestic bidders (Hong Kong, Taiwan and Macao excluded) should pay the bidding deposit in accordance with the requirements of information disclosure to the depository bank of "Ship Trade center". The operation path is: www.shipbid.net - select the bidding object - make payment according to the corresponding account requirements - the system will automatically review based on the actual payment situation. The bidders are eligible to participate in the bidding after qualification confirmation and receiving full deposit. After the transferee is determined, the balance of the bidding deposit paid by the transferee after deducting the transaction service fee payable shall be converted into a part of the transfer price.

Overseas bidders (including Hong Kong, Macao and Taiwan)) When applying for bidding, shall pay the bidding deposit of USD 560,000 to the designated account of Zhejiang property & Stock Exchange Co., Ltd (Account Name: ZHEJIANG PROPERTY & STOCK EXCHANGE CO LTD, Account Number: 7331111482600001073, Bank Name: China CITIC Bank,HANGZHOU Branch, Swift Code: CIBKCNBJ310), After confirming the qualification and paying off all the deposit (subject to the actual receipt of the account) will be eligible to participate in the bidding. After the transferee is determined, the balance of the bidding deposit paid by the transferee shall be converted into a part of the transfer price, and they shall pay the transaction service fee (RMB) within 3 working days to the designated account of Zhejiang property & Stock Exchange Co., Ltd. (Account Name: 浙江产权交易所有限公司, Account Number: 7331110182600113453, Bank Name: 中信银行杭州天水支行).

4.4 This project is settled in RMB. The domestic transferee (Hong Kong, Macao and Taiwan excluded) shall settle in RMB; The overseas transferee (including Hong Kong, Macao and Taiwan) shall settle in US dollars, The exchange rate is calculated according to the central parity rate of USD/RMB on China Money Website on the date of bidding.

4.5 The starting price and transaction price of the bidding object are exclusive of value-added tax. After the transfer is completed, the transferor will issue a general VAT invoice (tax rate is 2%) or a special VAT invoice (tax rate is 3%) to the domestic transferee, At the choice of the transferee, but the relevant taxes and fees shall be borne by the transferee and paid in lump sum to the designated account of Zhejiang Shipping Group Co., Ltd before signing PODA. If the transferee is overseas (including Hong Kong, Taiwan and Macao), the transferor shall provide a commercial invoice.

4.6 The transferee shall, after paying the full transaction price, take over the ship with the transferor at the location of the ship based on the transferor's estimated 10/5/3 days delivery notice and exact delivery notice one day in advance. After confirming that the transferee has paid full transaction price and remaining fuel payment, the transferor shall immediately notify the transferee's representative to take delivery of the ship and sign the protocol of delivery and acceptance. The earliest delivery date shall be 10 days after signing the contract, and the latest delivery date shall be 60 days after signing the contract ( in the transferor’s option) and the risk of damage, loss, and other risks of the subject asset will be transferred to the transferee from then on. If the delivery is not completed within the deadline, it shall be deemed that the transferor has completed the sales and purchase contract. The transferor shall evacuate the crews on board at any time, and all expenses and responsibilities incurred by the ship thereafter shall be borne by the transferee. If the transferee is unable to take delivery of the ship on time due to other special reasons such as force majeure such as typhoons, the time shall be correspondingly extended.

4.7 The transferee must handle the loading and transportation of the subject object on its own, and all expenses incurred (including but not limited to the loading, sort, dismantling, transportation, etc. of the subject object) shall be borne by the transferee. The transferee must fully consider the various costs and risks required during the loading and transportation process in advance, and the transferee shall bear full responsibility for the personal and property safety throughout the loading and transportation process.

4.8 After the delivery of the subject object, the transferee shall not use the original ship’s name, logo, or other original ship symbols.

4.9 The remaining fuel oil and lubricating oil of the ship shall be settled separately, and the transferor shall provide the transferee (domestic) a general VAT invoice (tax rate of 13%) for the sale of general goods, If the transferee is overseas, the transferor shall provide a commercial invoice. Expected quantity: about 80 tons of FO (# 180), about 20 tons of MGO, about 4 tons of main engine lubricating oil, about 2 tons of auxiliary engine lubricating oil, about 8 ton of cylinder oil, about 1 ton of main engine cylinder oil and about 0.5 tons of Gear oil. The remaining quantity shall be based on the actual measurement at the delivery site, and the oil price shall be settled based on the transferor's last refueling invoice (including tax unit price).

4.10 During the delivery, the transferee shall equip crews who meet the minimum safety personnel requirements of the maritime department, and cooperate with the transferor's crews to promptly and smoothly dismiss from the maritime system and complete the delivery. On the day of delivery, if the transferee’s crews are not in place, the transferor has the right to terminate the delivery, and all expenses and responsibilities incurred by the ship thereafter shall be borne by the transferee.

4.11 Before the delivery of the ship, the transferee shall provide the necessary documents for the deletion of the ship, including but not limited to copies of the business license (ID card), the transferee's statement of the purpose of the ship, and other relevant documents. The documents must be stamped (if the transferee is a natural person, it must added transferee’s fingerprint). If the transferee fails to provide timely information as required by the maritime department, resulting in the inability to finish the deletion, the consequences shall be borne by the transferee.

4.12 The transferor shall handle all formalities related to the ship cancellation within 20 working days after signing the PODA.

4.13 After the delivery of the ship, the transferee shall report to the MSA department and apply for an anchorage for the ship separately. The transferee shall independently assume all responsibilities and obligations after the delivery.

4.14 The sales and purchase contract (MOA) shall be signed as attached. In principle，no modification of the MOA will be allowed, except filling with the necessary information (e.g. transferee's information, purchase price, signing date, etc.), or others terms mutually agreed between the transferor and the transferee. 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 terms in such public notice shall prevail.

B. Qualifications for the transferee:

4.15 The domestic and overseas incorporated and unincorporated organizations established and effectively existing in accordance with the law, or domestic natural persons with full civil capacity;

4.16 The transferee shall meet the corresponding conditions, if there are special provisions in national laws and regulations.

5. All data listed in the documents provided for this bidding are for reference only. If there is any errors between the information and the current status of the subject object due to printing, copying, or photography, the specific information shall be based on the current status of the subject object and valid documents (certificates).

Zhejiang Property & Stock Exchange Co., Ltd.

Zhejiang Shipping Exchange Co., Ltd.

August 5^th, 2024

Undertaking for Bidding(Zhe Hai 362)(1).pdf

BIDDING RULE.pdf

zhe hai 362 MOA .pdf