Entrusted by the transferor (the Sellers), we have decided to hold a public bidding on www.shipbid.net from 16:00 to 16:30 (Beijing Time) on 21st April, 2025.

1. Bidding Object:

"HUA GAO" (IMO No.: 8418629)

Type: Working ship;

PoR: Shanghai, China;

Classification: CCS;

Class Notation: ★CSA Offshore Tug/Supply Ship/Stand-by Ship; Ice Class B;

Trading Area: A1+A2+A3;

LOA: 81.37m; MLB: 15.96m; MLD: 7.20m;

GT/NT: 2723/816;

Light weight: 2631t;

Deadweight: 1275t @ 4.9m draft; Deck area: 296.4m2;

M/E: ZGODA-SULZER 6ZL40/48, 2650kW x 2 sets;

Built Time: 6th May, 1991;

Builder: POLAND STOCZNIA SZEZECINSKA.

(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-organized at another time of the parties' choosing after mutual deliberation, until the interested parties are solicited.

2.3 The starting price is RMB 3.8million, and the bidding deposit is RMB 0.38million (or USD 53,000.00). Bid increment is a multiple of RMB 20,000.

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

2.6 The term ‘banking days’ of this bidding activity refers to banking days (not Saturdays or Sundays) in China and Hong Kong.（hereinafter called “working day”）

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 2-3 days in advance in order to avoid any issues resulting in missing the auction). No registration will be accepted after the 16:00 (Beijing Time) of the bidding date. After successful registration, the bidders shall be deemed to have fully known, accepted and complied with the contents of this announcement, bidding rules, special provisions, attachments and relevant agreements.

3.2 Any domestic corporation or organization with ship dismantling qualifications or legally existing overseas corporation or organization may participate in this bidding.

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 China 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

● 拆解资质证明文件（环保资质，拆船资质和排污证）

(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 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 or waive to inspect on-site 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. after the completion of the registration procedure. 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

Mr. Gao: +86 18058087033/0580-2038333

E-mail: auction@shipbid.net

Zhejiang Shipping Exchange Co., Ltd.

April 7th, 2025

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”.

If the bidding has a rule of “first bidder”, such bidder who completes the registration and obtains a bidding number firstly will be regarded as the “first bidder”. If no one bids within 5 minutes after the bidding starts, the platform will automatically bid for the “first registrant” with the starting price.

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 RMB. 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 GAO" (IMO No.: 8418629)

Type: Working ship;

PoR: Shanghai, China;

Classification: CCS;

Class Notation: ★CSA Offshore Tug/Supply Ship/Stand-by Ship; Ice Class B;

Trading Area: A1+A2+A3;

LOA: 81.37m; MLB: 15.96m; MLD: 7.20m;

GT/NT: 2723/816;

Light weight: 2631t;

Deadweight: 1275t @ 4.9m draft; Deck area: 296.4m2;

M/E: ZGODA-SULZER 6ZL40/48, 2650kW x 2 sets;

Built Time: 6th May, 1991;

Builder: POLAND STOCZNIA SZEZECINSKA.

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

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 bidding object is subject to the status at the time of delivery (on an as-is-where-is basis in its state and condition). If there is any discrepancy between the actual situation and the information and data above shall not affect the bidding and bidding price. Once the bidding is concluded, the Seller and us shall not assume take any liability for defects or quality problems of the bidding vessel.

3. After Bidding:

3.1. After a successful bidding, the Buyers shall send an Auction Confirmation to the Bidding Company on the same day (the ”Bidding Day”) by email or facsimile. The Buyers shall sign an original Auction Confirmation with the Bidding Company within TWO (2) Working Days of the Bidding Day. The Buyers shall sign Sales and Purchase Agreement (or MOA) with the Sellers within THREE (3) Working Days after completion of biding.

3.2 The Sales and Purchase Agreement (or MOA) shall be signed as attached, which forms part of Bidding Announcement and has the same effect as the terms in Bidding Announcement. The Bidders who applied for the auction shall be deemed to accept the full terms of the attached Sales and Purchase Agreement (or MOA) drafted by the Sellers. No modification of the Sales and Purchase Agreement (or 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 Sales and Purchase Agreement (or MOA) and this public auction regulations (including the bidding announcement, bidding rules, special provision, etc), the Sales and Purchase Agreement (or MOA) signed both by the Sellers and the Buyers shall prevail.

3.3 The bidding deposit paid by the Buyers shall be automatically converted to the purchase deposit after signing the Sales and Purchase Agreement (or MOA).The bidding deposit paid by the Buyers shall be automatically converted to the purchase deposit after signing the Sales and Purchase Agreement (or MOA) and the Transaction Service Agreement.

3.4 The bidding deposits of the unsuccessful bidders shall be returned within 2 working days after the bidding without interests.

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 shall be signed after completion of biding by the Buyers, the Sellers and ZSE. Any fee charged for holding and releasing the purchase funds shall be for the Buyers’ account. 
The Purchase Price, ROB charges for the remaining bunkers and lub oil and other sums payable (if any) paid by the Buyers to the Transaction Service account will be released to Seller's nominated account within Three (3) banking days upon receipt of signed Protocol of Delivery and Acceptance under Sales and Purchase Agreement (or MOA) by the Sellers and the Buyers.

3.6 The Purchase Price shall be settled in CNY. If the Buyers are of an overseas enterprise, the Buyers may choose to use US dollars, the Purchase Price shall be exchanged against the middle exchange rate announced by the Bank of China on the bidding day. At the same time, both the Sellers and the Buyers shall jointly appoint the export agent designated by the bidding company for exporting matters. The Sellers shall cooperate in handling the exporting matters, and the export-related expenses shall be borne by the Buyers. Port disbursement before delivery (if any) shall be borne by the Sellers, while that after delivery to be for the Buyers’ account.

3.7 If the Buyers fail to sign the Sales and Purchase Agreement (or MOA) or the Auction Confirmation or the Transaction Service Agreement as scheduled, the Sellers shall be entitled to confiscate all the bidding deposit paid by Buyers but without prejudice to the Sellers’ right to claim their losses against the Buyers.

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

3.8 If the Buyers' breach of contract as mentioned above leads to the cancellation of the transaction, The bidding company shall release the bidding deposit with the deduction of bidding service fee to the Sellers no later than Three (3) Banking days after the Buyers breaching the bidding rules (such as not signing Auction Confirmation / Sales and Purchase Agreement (or MOA)/ 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 Buyers shall lodge the balance Purchase Price, estimated ROB charges and other delivery monies (if any) at least 2 working days prior to the intended delivery date to the transaction service account as prescribed in the MOA and the Transaction Service Agreement.

4.2 The original owner (as the Sellers) should complete all the deletion procedures relating to the Vessel within Ten (10) working days after received the Ship Recycling/Dismantling Completeion certificate if the Buyers are domestic enterprise; 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 if the Buyers are overseas enterprise.

The Earliest Delivery Date: 25th April, 2025

The Latest Delivery Date: 5th May, 2025

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.

4.3 Delivery Place: The Vessel shall be delivered and taken over by the Buyers at a safe port or anchorage in Zhoushan port of China, at the Sellers’ option. The Sellers shall tender Seven (7) 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.

4.4 Delivery Condition: The Vessel shall be delivered and taken over on “as is where is” basis in its state and condition on condition at the time of delivery. The Buyer shall be deemed to confirm and accept the ship's condition if the Buyer has not inspect the Vessel 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, Technical Report and Sales and Purchase Agreement (or MOA)). Please download and check the details.

5. Related expenses:

5.1 Bidding service fee: The Buyers shall pay the bidding service fee within TWO (2) Working 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 buyer with a full-value VAT special invoice for the Purchase Price (tax rate: 3%) if the Buyers are of a domestic enterprise, while the Sellers shall provide the Buyers with commercial invoices of the Purchase Price if the Buyers are of an overseas enterprise. All the taxes, expenses and costs incurred after the vessel delivery shall be borne by the Buyers themselves.

5.4 The remaining fuel/lubricating oils/hydraulic oils/grease is not included in this bidding. On delivery, the Buyers and the Sellers representative 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 such invoices or vouchers are not available, the newest bunker price of Shanghai Port  published by Shanghai CHIMBUSCO prior to the delivery date shall be applied

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

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

The 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: as attached to Sales and Purchase Agreement (or MOA).

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 (or MOA).If otherwise stipulated in the Sales and Purchase Agreement (or MOA), the terms agreed upon in the version signed by the buyers and sellers shall prevail.

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.

7th April, 2025

Technical report-HUAGAO.pdf.pdf