Entrusted by the transferor (the Sellers), we have scheduled to hold a bidding online (www.shipbid.net) from 16:00 to 16:30 (Beijing Time) on November 10th, 2023.

1. Bidding Object:

MV“GOLDEN MAGPIE”, Bulk Carrier;

IMO: 9657404;

Class: Bureau Veritas ;

Class Notation: Bulk carrier CSR BC-A (holds 2, 4 may be empty) ESP GRAB [20]; Unrestricted navigation; CPS (WBT), VeriSTAR-HULL, AUT-UMS, MON-SHAFT, INWATERSURVEY;

Flag: HONG KONG;

Built Time: January 10th, 2014;

Builder: Huludao Bohai Shipyard Co., Ltd;

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

Summer DWT: 34527.4t on 10.27m Draft;

GRT/ NRT: 22400 / 11773;

Next SS/ DD: January 09th, 2024;

M/E: MAN B&W 6S42MC, Tier II, 6480kW@136r/min, 1 set;

A/E: MAN 5L 16/24, Tier II, 500 kW@1200r/min, 3 sets; 

Remarks：

1.1 The Ship is under navigation.

1.2 All the information and data refer to the Ship provided in this Announcement, Special Provisions as well as the attachments are for reference only. If there is any discrepancy, the statutory certificates, Class certificates and actual ship status shall prevail.

2. Bidding Rules

2.1 This bidding will be held without a reserved price. If there is only one bidder participating in the bidding, the bidder will be automatically determined as the buyers after the bidding period. If there are two or more bidders participating in the bidding, the potential transfer of the Ship will be carried out by auction. No one has the preemptive right to the transfer of Ship.

2.2 The starting price is USD 11.20 million. Bid increment is a multiple of USD 0.02 million.

2.3 The bidding time will enter into Extension Cycle since 16:25 on the bidding day after the bidding officially starts. And then the ending time will be refreshed to 5 minutes once each new bidding price offered.

2.4 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 on the bidding day. No registration will be accepted after the deadline. After successful registration, the bidder shall be deemed to have fully known, accepted and complied with the contents of this announcement, bidding rules, special provisions and relevant agreements.

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

3.3 The bidder shall not subject to or affected by any sanction, embargoes, freezing provisions, prohibitions or other restriction relating to trading, doing business, investment, exporting, financing or making assets available (or other activities similar to or connected with any of the foregoing) imposed by law or regulation of the United Nations, the People's Republic of China, United States of America and European Union against any state, natural or legal person, body or entity and are capable of making the payments in US Dollars as required under this Agreement. (During the bidding process or after a successful bidding, the Bidder/Buyers shall provide relevant supporting materials as reasonably required):

4. Date and Place for Inspection of the Ship
Inspection place is to be determined (according to specific voyage and port arrangement, and we will issue the notice in advance if possible), please confirm with the bidding company for details. Potential bidders can inspect the Ship 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 Ship, including but not limited to all known and unknown defects related to the vessel certificates and the Ship condition, etc. Potential bidders shall not object to defects, such as the quality of the Ship for any reason.

5. Contacts

Ms. Chen: +86 18058087026

Ms. Ai:    +86 18768095176 

E-mail: auction@shipbid.net

Zhejiang Shipping Exchange Co., Ltd.

November 03th, 2023

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 Market 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 Buyers do not pay the balance of Purchase Price within the prescribed time or do not take the bidding object, the Sellers are entitled to bid again of which the original Buyers cannot partiticate. If the Buyers regret to bid after completion of the auction (including but not limited to failure to pay the balance Purchase Price 2 working days prior to delivery, or other circumstances the original Buyers express clearly ), the bidding deposit lodged shall not be refunded, and will be used to pay the cost loss caused by the first bidding, make up the difference between the re-bidding price and the first bidding price. If the deposit amount is insufficient cover the costs, the Sellers have the right to pursue recourse against the original Buyers.

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 阿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

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

1. Bidding Object:

MV“GOLDEN MAGPIE”, Bulk Carrier;

IMO: 9657404;

Class: Bureau Veritas ;

Class Notation: Bulk carrier CSR BC-A (holds 2, 4 may be empty) ESP GRAB [20]; Unrestricted navigation; CPS (WBT), VeriSTAR-HULL, AUT-UMS, MON-SHAFT, INWATERSURVEY;

Flag: HONG KONG;

Built Time: January 10th, 2014;

Builder: Huludao Bohai Shipyard Co., Ltd;

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

Summer DWT: 34527.4t on 10.27m Draft;

GRT/ NRT: 22400 / 11773;

Next SS/ DD: January 09th, 2024;

M/E: MAN B&W 6S42MC, Tier II, 6480kW@136r/min, 1 set;

A/E:MAN 5L 16/24, Tier II, 500 kW@1200r/min, 3 sets; 

Remarks: The Ship is under navigation.

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.

2. After Bidding

2.1 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.

2.2 The Buyers shall sign the sales and purchases contract (MOA) together with the Auction Confirmation.  Bidders please contact the bidding company to obtain the purchases contract /MOA template.

2.3 The Sellers and the Buyers shall together appoint THEO SIOUFAS ESCROW SERVICES LLP (SINGAPORE) as the Escrow Agent, and the relevant costs will be equally borne by the Sellers and the Buyers. 

2.4 If the escrow account is failed to open due to the Buyers’ reasons, or the Buyers fail to pay the Purchase Deposit on time, the Sellers shall have the right to cancel this Agreement and this Agreement shall be null and void. Zhejiang Ship Exchange Co., Ltd. shall have the right to re-organize the bidding activity for the object Ship against the instructions of the transferor.

3. Delivery and Transfer (Deletion) of the Ship

3.1 The Buyers shall pay the balance of the Purchase Price, estimated ROB charge and other delivery monies (if any) to the escrow account in accordance with the purchases contract /MOA (subject to actual arrival of monies)

3.2 The original ship owner (as the Sellers) should complete all the deletion procedures relating to the ship within 10 working days after signing PODA.

Earliest Delivery Date: November 15^th, 2023;

Latest Delivery Date: January 9^th, 2024.

Due to the impact of Christmas and New Year holidays, the Sellers are willing to cooperate in not arranging delivery between December 21^st , 2023 and January 1^st , 2024 if requested by the Buyers.

3.3 Delivery Place: 

The Ship shall be delivered and taken over safely afloat as she was at the time of inspection by the bidders (except for fair wear and tear) and accessible berth or anchorage at/in Singapore – Japan Range (China intended) in the Sellers’ option (please find full detail in MOA).

Once the bidders complete the registration, shall be deemed to have recognized and accepted the status quo and defects of the Ship, including but not limited to all known and unknown defects related to the ship certificates and the ship condition, etc. Condition on delivery shall be in accordance with MOA. The Buyers shall be deemed to have confirmed to accept the ship’s condition if they did not inspect the ship.

3.4 Documentation provided by the Sellers and the Buyers on Closing shall be refer to MOA.

3.5 Items on board which are on hire or owned by third parties are excluded from the sale without compensation: Iridium pilot & Marinsat VSAT (please find full detail in MOA).

4. Related expenses

4.1 Bidding service fee: After bidding, the Sellers shall pay the bidding company 5% of the purchase price as service fee.

4.2 The Sellers would provide with Commercial Invoice of the Purchase Price and the remaining bunkers & unused lubricating. All the taxes, expenses and costs incurred after the ship delivery shall be borne by the Buyers themselves.

4.3 Items on board which are on hire or owned by third parties are excluded from the sale without compensation. The final quantities of remaining bunkers, unused lubricating and hydraulic oils and greases in storage tanks and unopened drums shall be measured jointly and agreed by Sellers’ and Buyers’ representatives 2 days prior to the date of Delivery with an agreed allowances of consumption up to the time of closing/physical delivery.

The Buyers shall take over remaining unused lubricating and hydraulic oils and grease and pay:

(a) the actual net price (excluding barging expenses) as evidenced by invoices or vouchers; or if such invoices or vouchers not available, the Buyers to pay as per the current net market price at the port of delivery.  

The Buyers shall take over the remaining bunkers at:

(b) the actual net price (excluding barging expenses) as evidenced by invoices or vouchers; or if not available from the Sellers, the Platts Singapore bunker price on the 3^rd business day prior to the delivery date shall be applied.

4.4 An already ordered Headway BWTP (Type Model: HMT-600) including 3D scanning are included in the sale at no additional cost to the Buyers.

4.5 The delivery time of the Ship shall be subject to the signing time of the PODA. Unless otherwise specified in the mutually signed MOA, the ship with everything belonging to her shall be at the Sellers' risk and expense until she is delivered to the Buyers, while the Ship’s risk and expenses shall be for the Buyers’ account after the delivery of the ship.

5. Matters not covered herein shall be settled through negotiation at good faith by the bidding company, the Sellers and the Buyers.

Zhejiang Shipping Exchange Co., Ltd.

November 3rd, 2023