Entrusted by the transferor (the Seller), we have decided to hold a public bidding on www.shipbid.net from 16:00 to 16:30 (Beijing Time) on December 18th,2024.

1. Bidding Object:

"HUA SHUN";

Type: AHTS;

IMO: 8407577;

Flag: Liberia;

Class: DNV;

Class Notation: 1A1 supply vessel Tug E0 SF;

Trading Area: Unrestricted;

LOA: 65.00m; MLB: 14.50m; MLD: 7.40m;

GT/NT: 1558/467;

LDT: 1492.5t;

DWT: 2000t @ 6.32m draft;

M/E: Wartsila Vasa Diesel, 4590BHP x 2 sets;

A/E: CAT 340-6 x 2 sets;

Shaft Generator: MPM 500-21 x 2 ets;

Emergency Generator: ULSTEIN 90 TV-A x 1 set;

Propeller: CPP Propellers;

Bollard Pull: 102.4 Tons;

Tow Line: 1000m x 64mm;

Year Built: June 12th, 1985;

Builder: Serkoder Mek, Verstad A/S.

(All the information and data refer to the Vessel provided in this Announcement, Special Provisions as well as the attachments are for reference only.)

2. Bidding Rules:

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

2.2 After the expiry of the announcement period, if no qualified bidders are solicited, the disclosure of information will be extended, and the period will be extended in accordance with a cycle of 5 working days without changing the conditions of the listing, or the auction will be re-organised at another time of the parties' choosing after mutual deliberation, until the interested parties are solicited.

2.3 The starting price is USD 0.4million, and the bidding deposit is USD 0.04million (or RMB 0.3million). Bid increment is a multiple of USD 5000.

2.4 The bidding time will enter into Extension Bidding Cycle from 16:25 on the bidding date (Beijing Time) after the bidding officially starts. And the countdown timer will be automatically refreshed to 5 minutes once a new bidding price offered during the Extended Bidding Period.

2.5 If the Buyers pay the deposit in CNY, the Buyers shall remit USD 0.04million within THREE (3) Banking Days after signing Auction Confirmation. The bidding company shall return the CNY deposit fully back to the Buyers within TWO (2) Banking Days after the receipt of the USD deposit.

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

2.7 The term ‘banking days’ of this bidding activity refers to banking days (not Saturdays or Sundays) in China and Hong Kong.

3. Registration requirements:

3.1 Registration is available from the date of this Announcement and ends before the auction starts (subject to the receipt of bidding deposit, the completion of online registration and the receipt of the bid number plate obtained on the platform. It is recommended that bidders pay the deposit 3-5 days in advance in order to avoid any issues resulting in missing the auction). No registration will be accepted after the 16:00 (Beijing Time) of the bidding date. After successful registration, the bidders shall be deemed to have fully known, accepted and complied with the contents of this announcement, bidding rules, special provisions, attachments and relevant agreements.

3.2  This bidding is open to any company or organization who is duly incorporated and in good standing and registers successfully in accordance with this Announcement.

3.3 Bidders must ensure that they are not subject to any sanctions, embargoes, freezes, prohibitions or other restrictions imposed by the United Nations, the People's Republic of China, the United States of America and the European Union laws and regulations relating to trade, conduct of business, investment, export, financing (or other activities similar or related to any of the foregoing), and that they have the ability to pay for and receive foreign exchange in USD dollars.(Bidders are required to provide relevant explanations or supporting materials as reasonably required during the bidding process or after the transaction, and to complete a KYC approval.).

3.4 The bidders shall submit the following documents for registration (including but not limited to):

(1) For domestic bidders:

● 营业执照扫描件（加盖公章）

● 法定代表人身份证扫描件（加盖公章）

● 经办人身份证扫描件及授权委托书（如有，需加盖公章）

●《参拍承诺书》（详见附件）

● 竞拍保证金付款凭证

(2) For overseas bidders:

● Certificate of Incorporation

● Articles of Incorporation

● Copy of Director’s Passport

● Undertaking for Bidding (please check the Supplement)

● Bank slip of bidding deposit

4. Inspection of the Object:

Inspection is to be determined, please confirm with the bidding company for details. Intended bidders who have lodged the bidding deposit may inspect the Vessel within the stipulated time. All the expenses, risks and responsibilities of the inspectors during the process shall be borne by the potential bidders. The bidding company and the Seller shall only be responsible for coordination work. Potential bidders who fail to participate in the on-site inspection yet complete the registration procedure within the prescribed inspection time shall be deemed to have recognized and accepted the status quo and defects of the Vessel, including but not limited to all known and unknown defects related to the vessel certificates and the vessel condition, etc. Potential bidders shall not object to defects, such as the quality, of the Vessel for any reason.

5. Account of Bidding Company:

(1) RMB Acct:

● Beneficiary: 浙江拍船网航运交易股份有限公司

● Account No.: 3420 0200 1012 0100 3787 39

● Beneficiary Bank: 浙商银行舟山分行

(2) USD Acct:

● Beneficiary: Zhejiang Shipping Exchange Co., Ltd.

●Beneficiary Address: 6th Floor, Zhoushan Bulk Commodity Exchange Center No.555 Wengshan Road Lincheng, Zhoushan City, Zhejing, 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

6. Contacts:

Ms. Pan: +86 13606589339/0574-87243887

Ms. Lin: +86 13646696072/ 0580-2038333

E-mail: auction@shipbid.net

Zhejiang Shipping Exchange Co., Ltd.

December 03rd, 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.

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

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

2. Bidding Object:

"HUA SHUN";

Type: AHTS;

IMO: 8407577;

Flag: Liberia;

Class: DNV;

Class Notation: 1A1 supply vessel Tug E0 SF;

Trading Area: Unrestricted;

LOA: 65.00m; MLB: 14.50m; MLD: 7.40m;

GT/NT: 1558/467;

LDT: 1492.5t;

DWT: 2000t @ 6.32m draft;

M/E: Wartsila Vasa Diesel, 4590BHP x 2 sets;

A/E: CAT 340-6 x 2 sets;

Shaft Generator: MPM 500-21 x 2 sets;

Emergency Generator: ULSTEIN 90 TV-A x 1 set;

Propeller: CPP Propellers;

Bollard Pull: 102.4 Tons;

Tow Line: 1000m x 64mm;

Year Built: June 12th, 1985;

Builder: Serkoder Mek, Verstad A/S.

All the information and data provided in the Bidding Announcement, Special Provision as well as any other channel related to the Vessel is for reference only. The condition of the bidding object is subject to that at the time of delivery (on an as-is-where-is basis in its state and condition). If there is any discrepancy between the actual situation and the information and data above shall not affect the bidding and bidding price. Once the bidding is concluded, the Seller and us shall not assume take any liability for defects or quality problems of the bidding vessel.

3. After Bidding:

3.1 After a successful bidding, the successful bidder/buyer (the”Buyer”) must confirm the purchase price of the Vessel by signing an send an Auction Confirmation to the Bidding Company by email to the following address [auction@shipbid.net] on the same day. The Buyers shall sign Four (4) originals Auction Confirmation with the Bidding Company within TWO (2) Working Days of the Bidding Day.

3.2 The Buyers shall sign MOA with the Sellers within Seven (7) Working Days after completion of biding.

The terms and conditions of the sale and purchase of the Vessel has been amended basis on the Norwegian Shipbrokers' Association's version of SALEFORM 2012 attached as an annex (the“MOA”), as a part of Bidding Announcement, which has the same effect as the terms in Bidding Announcement.

Upon successful registration for the purposes of participating in the bidding (as evidenced by obtaining a bidding number plate) as described in the Bidding Announcement, the bidder shall be deemed to have confirmed and accepted all the terms and conditions of the Bidding Announcement, this Special Provisions and the MOA (collectively, the“Sale Documents”) and be bound by and accepts all the terms and conditions contained therein and herein.

3.3 After the bidding is completed, the buyer shall ensure that the bidding registrant, the MOA signing body, the paying party and the final ownership registrant are all the same company body. After the auction is completed, the buyer has the right to designate another legally surviving company as the final buyer's company body and specify the specific company information within (10) working days (the late date is regarded as an automatic waiver) and must sign a Nomination Letter with the transferor, and the buyer (i.e., the company body of the registrant) shall continue to fulfil the contractual obligations as the sole payer of the transaction, and the designated new company shall take over the vessel and register the right holders. Company as the receiver of the vessel and the registered right holder. The ultimate buyer company body shall be a wholly-owned subsidiary of the buyer company or be 100% identical to the buyer company's shareholding. At the same time, the ultimate buyer company must ensure that it is not involved in China, UN, EU and US sanctions.

3.4 No modification of 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 Seller 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.), this MOA signed both by the Sellers and the Buyers shall prevail.

3.5 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 transaction service agent at the same day of signing the MOA.

3.6 The bidding deposit paid by the Buyers shall be automatically converted to the purchase deposit after signing the MOA and the TSA.

The Buyers shall pay the balance of the purchase price, the estimated remaining oils charges and other delivery fees (if any) to the escrow account no later than Three (3) banking days before delivery of the Vessel.

3.7 After the Seller and the Buyer have completed the formalities relating to the handover of the Vessel, the transaction service agent shall, in accordance with the MOA and the TSA remit to the designated account of the Transferor all the Transaction Price paid by the Buyer and other amounts payable (if any) received by the escrow account by bank transfer/telegraphic transfer within THREE(3) working days upon receipt of the original or scanned copy of the PODA. to the Seller's designated account by bank transfer/telegraphic transfer within THREE(3) working days.

The excess amount paid by the Buyer shall be returned to the Buyer by the third party ship transaction service agent in the same way within THREE(3) working days after the completion of the handover of the Vessel (subject to the PODA signed by the Seller and the Buyer) and the receipt of the payment instruction signed by the Buyer.

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

3.9 If the Buyers fail to sign the MOA or Related Agreements, the Sellers shall be entitled to confiscate all the bidding deposit paid by the Buyers but without prejudice to the Sellers' right to claim their losses against the Buyers.

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

3.11 If the Buyers' breach of contract as mentioned above leads to the cancellation of the transaction, The bidding company shall release the bidding deposit with the deduction of bidding service fee to the Sellers no later than Two (2) Banking days after the Buyers breaching the bidding rules (such as not signing Auction Confirmation/Sales and Purchase Agreement/Transaction Service Agreement and so on). Zhejiang Shipping Exchange Co., Ltd. shall have the right to re-organize the bidding activity for the object Vessel against the instructions of the Sellers.

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

4.1 The original owner (as the Sellers) should complete all the deletion procedures relating to the Vessel within Ten (10) working days after the Protocol of Delivery and Acceptance signed, dated and timed arrive at the Sellers.

The Earliest Delivery Date: December 30th, 2024

The Latest Delivery Date: January 15th, 2025

The delivery period above shall be extended accordingly if the announcement period is extended.

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

4.2 Place of Delivery: The Vessel shall be delivered and taken over by the Buyers at a safe port in the range of Hong Kong at the Sellers’ option. The Sellers shall send Ten (10) days’ notice with intended delivery time and place in advance.

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

4.3 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 Three (3) attachments in total (Undertaking for Bidding, draft MOA,List of items). Please download and check the details.

5. Related expenses:

5.1 Bidding service fee: The Buyers shall pay the bidding company 1% of the purchase price as the bidding service fee within Two (2) Banking Days of the Bidding Day .

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).Any taxes and fees incurred in connection with the purchase of the vessel and its registration in the flag state designated by the buyer shall be borne by the buyer; likewise, all handling fees, transaction verification fees (if required), etc., in connection with the sale of the vessel and its cancellation of registration by the seller shall be borne by the seller.

5.4 The remaining fuel/lubricating oils/hydraulic oils/grease is not included in this bidding. On delivery, the representatives both from the Buyers and the Seller 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 taxes & barging expenses) as evidenced by invoices or vouchers; or if such invoices or vouchers not available, the newest price Platts Singapore published on the Three (3) working day prior to the delivery date shall be applied.

The Buyers shall take over remaining unused lubricating and hydraulic oils and grease in storage tanks and unopened drums and pay:

(b) The last actual net price (excluding taxes & barging expenses) as evidenced by invoices or vouchers; or if such invoices or vouchers not available, the marketing price published by the makers on the Three (3) working day prior to the date of delivery date shall be applied.

The 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 items on board which on hire or owned by third party, are excluded from the sale without compensation: Attachments.

5.6 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 Sales and Purchase Agreement.

5.7 Other Information:The vessel is currently being imported under charter and the seller undertakes to complete the re-export formalities prior to delivery.   

6. The announcement in Chinese and English respectively, in the event of any discrepancies between the Chinese and English versions, the 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.

December 03rd, 2024

MOA-HUA SHUN.pdf

Undertaking for Bidding-HUASHUN.pdf