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 January 3rd, 2025.

1. Bidding Object:

MT “DH GLORY”, Oil/Chemical tanker;

IMO: 9815628;

PoR: HONG KONG;

Class: BV;

LOA: 133.23m; MLB: 21.50m; MLD: 11.5m;

Summer Deadweight: 13121t; Design draft: 8.5m;

GT/NT: 8944/4228;

M/E: Winterthur Gas & Diesel Ltd/W6X35-B, 4215kW@135r/min×1 set;

A/E: VOLVO/HDV-CCFJ450J-W, 450kW@1800r/min×4 sets;

Built Time: November 12th, 2020;

Builder: Nantong Tongbao Shipbuilding Co., Ltd.;

(All the information and data refer to the bidding object provided above is excerpted from the class certificates, and used for reference only.)

Remarks: The ship is in service.

2. Bidding rules:

2.1 This bidding will be held with a reserved price. If there is only one bidder participating in the bidding, only the price offered by the bidder can meet the reserved price, the auction will been deemed successful. If there are two or more bidders participating in the bidding, the potential transfer of the ship will be carried out by auction. However, if the highest price offered by the bidder is lower than the reserved price, the auction will be deemed as invalid. No one has the preemptive right to the transfer of Vessel.

2.2 The starting price is USD 25.3million, and the bidding deposit is USD 1 million (or RMB 7.2 million). Bid increment is a multiple of USD 0.02 million.

2.3 If the Buyers pay the deposit in CNY, the Buyers shall pay as follows:

1) The Buyers shall pay another USD 1 million separately to the bidding company's designated US dollar account within Two(2) working days upon the completion of the bidding. The bidding company shall return the CNY deposit fully back to the Buyers within One (1) working day after the receipt of the US deposit.

2) The Buyers shall pay CNY Amount (CNY Amount=Purchase Price x 20% x 7.2-7200000 ) separately to the bidding company's CNY account as additional deposit within 10 Banking days after the completion of the bidding and MOA signed by Sellers and Buyers. The bidding company shall return the CNY bidding deposit and CNY additional deposit within One (1) working days after the bidding company receives the full USD deposit.

2.4 The bidding time will enter into Extension Cycle since 16:25, January 3rd, 2025 (Beijing Time) after the bidding officially starts. And then the ending time will be refreshed to 5 minutes once each new bidding price offered.

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 1-2 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.

3.2 Any corporation 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 Chinese 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》（文本向我司领取）

●  竞拍保证金付款凭证

(2) For Abroad Bidders:

●  Certificate of Incorporation

●  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, please contact 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) USD ACCOUNT:

● Beneficiary: Zhejiang Shipping Exchange Co., Ltd.

● Beneficiary Add: 6th Floor, Zhoushan Bulk Commodity Exchange Center, No.555 Wengshan Rd, Lincheng Zhoushan Zhejiang Province, 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: DH GLORY

(2) RMB ACCOUNT:

● Beneficiary: 浙江拍船网航运交易股份有限公司

● Account No.:  3420 0200 1012 0100 3787 39

● Beneficiary Bank: 浙商银行舟山分行

6. Contacts:

Ms.Wen：+86 18058087023 / 0580-2038333

Mr.Gao：+86 18058087033 / 0580-2038333

Email：auction@shipbid.net

Zhejiang Shipping Exchange Co., Ltd.

Zhoushan Yi Ge Ship Auction Co., Ltd

November 26th, 2024

Article 1 Bidding Rules is made by relevant laws, regulations and policies of the People's Republic of China and with Shipbid practical situations, to standardize the bidding behaviors, maintain an open, fair and equal transaction order, and protect legitimate rights and interests for all the parties involved.

Article 2 The Transaction Rules of the ship bidding (hereafter to be referred as bidding) is suitable for standardizing all the online bidding behaviors. All the parties involved should abide by the Rules and bear legal responsibilities for their own behaviors.Disputes, if any, shall be settled by the parties through friendly negotiation. If the negotiation fails, parties concerned may file a lawsuit with the people's court where the auction organizer (Zhejiang Ship Exchange Co., Ltd) is located.

Article 3 All legal persons or organizations that exist legally can participate in the bidding only if they have the qualifications of the auction announcement except those provided by laws and regulations.

Article 4 The auction information including videos, pictures and written introductions offered by the Seller will be uploaded through the Shipbid system after verified by the auctioneer.

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

Article 5 The bidders couldn’t participate in the bidding activities until they register as the Buyer through the Shipbid system.  

The username and passwords should be kept safely. If forgotten, bidders could retrieve through the Shipbid system. And if divulged, bidders should login in time to change the passwords.

Article 6 Before submitting the application for the bidding, the bidders should carefully read the auction announcement, ship’s information, transaction rules and other relevant documents, then login the Shipbid system to fill in true and effective information as required.

Article 7 The bidders should submit the applications in accordance with the auction announcement before the Shipbid starts.If legal personalities, natural persons and other organizations need joint-bidding, they should fill in related information and the proportion of capital contribution of each party as required and sign the Joint Bidding Statement.

Article 8 The bidders apply on the Shipbid system by themselves, and pay the deposit either on line or offline. One deposit is only for one lot. And if the bidders want to bid several ships at the same time, corresponding deposits are required.

The bidders are entitled to bid only if the deposit fully paid to the nominated account (based on the arrival time of the deposit ）within the required time. The bidders shall not be eligible for bidding if the deposit is delayed or not fully paid on time.

Article 9 The bidding shall be conducted with time limit. Qualified bidders can participate in the bidding. The initial offer shall not be lower than the starting price and each offer shall be no less than the specified bid increment.

If it is an auction with reserve price, “YES” will be revealed in the system. Otherwise it will display “NULL”.

Article 10 The bidder shall make a cautious bid, and the offer will be irrevocable once submitted.

Article 11 The last limited time of the Shipbid is FIVE (5) minutes. If there is a new bid within 5 minutes countdown, another 5 minutes will be set.

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

Article 12 Once there is/are (a) bidder offer(s) in the Shipbid, the target bidder (hereinafter called the Buyer) shall be confirmed in accordance with the following rules

(1) Where there is no reserve price, the highest bidder would be the Buyer.

(2)Where there is a reserve price, the bidder with the highest offer and not lower than the reserve price would be the Buyer; If the highest offer is lower than the reserve price, the bidding will be pass.

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

Article 13 The Buyer should confirm his qualification with the enterprise or individual valid certification to the auctioneer within 2 working days after the bidding. After verification and confirmation, the Buyer should sign the Auction Confirmation. If the Buyer fails to sign the Auction Confirmation for any reasons, the auction result shall not be affected.

If the Buyer fails to pass the qualification due to submitting false registration materials, the bidding result is invalid or the Buyer breaches the contract, he shall pay the bidding service fee of both the Buyer and the Seller; If the price of the re-auction is lower than the transaction amount, the Buyer must make up the difference.

Article 14 If the bidding is completed, but the transaction is suspended or terminated, if there is a dispute between the Buyer and the Seller, the auction deposit shall be properly kept by Zhejiang Shipping Exchange until it is paid according to the settlement agreement between the two parties or the effective court judgment or the ruling of the arbitration institution.

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

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

Article 17 After paying the balance, the Buyer himself should handover the lot and manage the transaction procedures in time. If the Buyer fails to manage within required time, he himself should pay the costs caused by the delay and afford the consequences of possible damage or losses.

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

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

Article 20 If the bidder obstruct others to bid, manipulate or monopoly the bidding price, or make malicious collusion, the auction will be cancelled once above behaviors are found, and relevant legal responsibility will be borne by the bidder.

Article 21 If the bidder cannot normally login the Shipbid system to apply, offer or bid because of following reasons such as virus invasion, hardware failure, network congestion or passwords forgotten and divulge, etc., he himself should bear the consequences and the bidding will not be suspended.

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

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

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

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

Article 25 These rules are general rules for online auction transactions of ships. In case of any conflict with the announcement or agreement of a single item, the terms of a single item shall prevail.

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

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

Article 28 The time concerned in the bidding all depends on Shipbid system service time, except the deposit arriving time which depending on the bank recording time. All the time of information arriving is subject to the time when the information received by Shipbid.

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

2. Bidding Object:

MT “DH GLORY”, Oil/Chemical tanker;

IMO: 9815628;

PoR: HONG KONG;

Class: BV;

LOA: 133.23m; MLB: 21.50m; MLD: 11.5m;

Summer Deadweight: 13121t; Design draft: 8.5m;

GT/NT: 8944/4228;

M/E: Winterthur Gas & Diesel Ltd/W6X35-B, 4215kW@135r/min×1 set;

A/E: VOLVO/HDV-CCFJ450J-W, 450kW@1800r/min×4 sets;

Built Time: November 12th, 2020;

Builder: Nantong Tongbao Shipbuilding Co., Ltd.;

Remarks: The ship is in service.

All the information and data provided in the Bidding Announcement, Special Provision, Technical Report as well as any other channel related to the Ship are for reference only. The bidding object is subject to the status at the time of delivery. 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 us shall not assume take any liability for defects or quality problems of the bidding ship.

3. After Bidding:

3.1 After a successful bidding, the Buyers shall sign an Auction Confirmation with the Bidding Company on the same day (the “Bidding Day”) via email address or facsimile. The Buyers shall sign the original Auction Confirmation with the Bidding Company within Two (2) working days of the Bidding Day.

3.2 The Buyers shall sign the MOA with the Sellers within Five (5) working days after the Bidding Day.

The Memorandum of Agreement for sale and purchase of ships (MOA) has been amended on SALEFORM 2012 published by Norwegian Shipbrokers’ Association, 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. In principle, 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 (TSA) shall be signed by the Buyers, the Sellers and ZSE at the same day of signing the MOA.

3.4 The purchase deposit is 20% of Purchase Price. The bidding deposit paid by the Buyers shall be automatically converted to part of purchase deposit after signing the MOA and the TSA.

With the consent of the Buyers and the Sellers, an overseas law firm with good standing can also be designated as an escrow agent and an escrow account to be opened. Any fee charged for holding and releasing the Deposit shall be borne by the Buyers.

3.5 The Buyers shall pay the rest of purchase deposit (Purchase Price x 20% - the paid

part of purchase deposit) or provide an equivalent amount of RMB as additional

deposit to the Transaction Service Account within Ten (10) banking days after signing

the MOA and the TSA.

If the purchase funds to be hold by a law firm, the Buyers shall lodge 20% of the Purchase Price as the purchase deposit within Three (3) working days after the law firm has confirmed in writing to the Parties that the account has been opened. The bidding deposit shall be refund by the bidding company within Two (2) banking days after the purchase deposit reached at the escrow account fully.

3.6 The Buyers shall remit the balance of the purchase price, estimated ROB charge and other payable (if any) to the Transaction Service Account Two (2) working days prior to the expected delivery date. The Transaction Service account or the Escrow Account opened by the law firm shall release the all of Purchase Price, ROB charge and other payable (if any) to the Sellers’ designated account within Three (3) working days after receipt of the Protocol of Delivery and Acceptance (PODA) and the Fund Transfer Confirmation Letter jointly signed by the Buyers and the Sellers after the completion of the Vessel's delivery.

3.7 If the Buyers fail to sign the MOA as scheduled, it shall be deemed as a breach and the Sellers shall be entitled to confiscate all the bidding deposit. And if the transaction service account is failed to open due to the Buyers’ reasons after MOA and the TSA signed, the Sellers shall have the right to cancel the MOA solely and the MOA shall be null and void. The Sellers shall be entitled to confiscate all the purchase deposit or additional deposit (if any) paid by the Buyers.

3.8 If the Buyers’ breach of contract results in the cancellation of the transaction, the bidding company shall release the bidding deposit with the deduction of bidding service fee to the Sellers within Two (2) working days after breaching the bidding rules (such as not signing Auction Confirmation / the MOA / Transaction Service Agreement on schedule, and failed to open the transaction service account) and the Sellers declare to cancel the transaction in writing. 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.

3.9 If the Buyers is an enterprise or organization legally existing in China, the Buyers shall entrust the export agent nominated by the bidding company for importing matters, RMB0.15million as the import agent fee and the import-related expenses (including but not limited to the ship agent fee, the import taxes, etc.) shall be borne by the Buyers. The port charges (if any) before the handover of the ship shall be borne by the Sellers and the port charges after the handover shall be borne by the Buyers.

3.10 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. The bidding deposits of the unsuccessful bidders shall be returned within Two (2) Working Days after the bidding without interests.

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

4.1 The Buyers shall pay all the bidding service fee within Three (3) Working Days after the bidding.

4.2 The original owner (as the Sellers) should complete all the deletion procedures relating to the ship within Two (2) working days after signing the PODA.

The Sellers and the Buyers shall negotiate in a friendly manner to agree on the delivery date, but the latest delivery date shall not exceed Three (3) months after the signing of the MOA. In case of unexpected circumstances causing delay, with the consent of the Buyers and Sellers, the parties may negotiate and agree on a new latest delivery date.

4.3 Delivery Place: The Vessel shall be delivered and taken over by the Buyers at a safe and accessible berth or anchorage in China, at the Sellers’ option. The Sellers shall tender the notice with intended delivery time and place Thirty (30) days in advance. 

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

The Buyers shall take the vessel “as is where is” at the time of delivery. The Buyers shall be deemed to confirm and accept the ship’s condition if they did not inspect the ship at the nominated time within the prescribed inspection time.  The Sellers undertake to deliver the Vessel with her class maintained without condition/recommendation issued by the flag state/ port authorities affecting the Vessel’s class.

4.5 Documents provided by the Sellers and the Buyers on Closing shall be refer to MOA.

5. Related Expenses:

5.1 Bidding service fee: 1% of the Purchase Price.

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 the commercial invoices of the purchase price, the ROB charge and other payable (if any). 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 The remaining fuel/lubricating oils/hydraulic oils/grease is not included in this bidding. On delivery, the Buyers and the Sellers shall take measurement of the remaining bunkers and unused lubricating/hydraulic oils/grease.

The Buyers shall take over the remaining bunkers at:

(a) The last actual net price (excluding barging expenses) as evidenced by invoices or vouchers; or if not available from the Sellers, the Platts Singapore price on the 4th working days prior to the date of delivery to 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 tax and barging expenses) as evidenced by invoices or vouchers; or if such invoices or vouchers not available, the last price published by their respective makers prior to the date of delivery shall be applied.

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

5.5 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 this Agreement.

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

November 26th, 2024

DH GLORY-MOA.pdf