Entrusted by the transferor (the Sellers), we have scheduled to hold a public bidding online (www.shipbid.net) from 10:00 to 10:30 (Beijing Time) on December 08^th, 2022.

1. Bidding Object:

MV “AN JI 15”, Multipurpose Ship; Class: ZC; PoR: Nanning, China; LOA/Breadth/Depth: 98.00m/15.80m/7.40m; GT/NT: 2994/1676; DWCC: 5000t(265Teu) @ 5.90m Draft; Light Displacement: 1485.14t; M/E: 1 set 8320ZCd-6, 2060kW@525rpm; Built: July 26th, 2005 at Zhejiang Dongfang Shipbuilding Co., Ltd.; Next SS/DD: February 28th, 2027/ February 28th, 2024.

Note: The subject Vessel, surveyed by OMCS Class, has been under Bareboat C/P under Panama Flag with the type of Multipurpose Container Ship and trading within Vietnam, China including Taiwan, Korea, Japan and Far East of Russia.

 All the information and data refer to the Vessel 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 vessel status shall prevail.

2. Bidding Rules

2.1 This bidding will be held with a reserved price. If there are less than two bidders participating in the bidding, this bidding shall be deemed failed upon the completion of the announcing period. If there are two or more bidders participating in the bidding, the transfer of the Vessel will be carried out by auction. No one has the preemptive right to the transfer of Vessel.

2.2 The starting price is RMB 9.88million, and the bidding deposit is RMB 1million (or USD 0.15million). Bid increment is a multiple of RMB 0.02million.

2.3 The bidding time will enter into Extension Cycle since 10:25 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 (subject to the receipt of bidding deposit, the completion of online registration on the platform and the receipt of the bidding number. It is recommended that bidders pay the deposit 1-2 days in advance in order to avoid any issues). 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 natural persons with full civil capacity in China and corporation or organization in and outside the People’s Republic of China with full capacity for civil conduct and legally existing may participate in this bidding..

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

●   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 (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 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 (USD Acct):

●Beneficiary: Zhejiang Shipping Exchange Market Co., Ltd.

●Beneficiary Address: 6th Floor, Zhoushan Bulk Commodity Exchange Center, No.555 Wengshan Rd, Lincheng Zhoushan Zhejiang Province, P.R.China

●Account No. : 3309040160000036851

●SWIFT (Beneficiary Bank): HZCBCN2HZSB

●Beneficiary Bank: Bank of Hangzhou Co., Ltd, Zhoushan Branch

●Beneficiary Bank Address: No.619, Dingshen Road, Ganghang Building B Zone, Zhoushan city, Zhejiang Prov. P.R. China

●Remittance Reference: AN JI 15

 6. Contacts:

Ms. Wen: +86-18058087023/ 0580-2038333;

Ms. Chen: +86 18058087026/ 0580-2038889;

E-mail: auction@shipbid.net

Zhejiang Shipping Exchange Market Co., Ltd.

Zhoushan Yi Ge Ship Auction Co., Ltd

November 23^rd, 2022

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 personalities, natural persons and other organizations in and abroad PRC 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 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 Market 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 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 CNY. 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 until the website service returns to normal, and the online auction will be organized and completed according to the new auction 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 Market 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:

MV “AN JI 15”, Multipurpose Ship; Class: ZC; PoR: Nanning, China; LOA/Breadth/Depth: 98.00m/15.80m/7.40m; GT/NT: 2994/1676; DWCC: 5000t(265Teu) @ 5.90m Draft; Light Displacement: 1485.14t; M/E: 1 set 8320ZCd-6, 2060kW@525rpm; Built: July 26th, 2005 at Zhejiang Dongfang Shipbuilding Co., Ltd.; Next SS/DD: February 28th, 2027/ February 28th, 2024.

Note: The subject Vessel, surveyed by OMCS Class, has been under Bareboat C/P under Panama Flag with the type of Multipurpose Container Ship and trading within Vietnam, China including Taiwan, Korea, Japan and Far East of Russia.

All the information and data provided in the Bidding Announcement, Special Provision, Technical Report as well as any other channel related to the Vessel 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 we shall not assume any liability for defects or quality problems of the bidding Vessel.

3. After Bidding

3.1 Following a successful bidding, the Buyers shall send an Auction Confirmation to the Bidding Company on the same day (the “Bidding Day”) at the email address or facsimile number. The Buyers shall sign an original Auction Confirmation with the Bidding Company within TWO (2) Banking Days of the Bidding Day, and sign Sales and Purchase Contract (or MOA) with the Sellers within FIVE (5) Banking Days (no later than THREE (3) Banking Days before delivery) after bidding.

3.2 The bidding deposits of the unsuccessful bidders shall be returned within TWO (2) Banking Days after the bidding without interests. The bidding deposit of the Buyers will be automatically converted as part of purchase fund after the bidding without interests.

3.3 It’s acknowledged the interests-free account designated by the bidding company shall be the escrow account to hold and release the Purchase Funds and other monies. The bidding company will not charge any additional fee for the above escrow service.

3.4 This bidding shall be denominated in RMB and the final RMB Price shall be determined as the Purchase Price. The Buyers outside the People’s Republic of China shall pay enough RMB as per the Auction Confirmation. If the Buyers have to entrust the export agent to handle the foreign exchange settlement and pay RMB, they shall make preparations with the export agent in advance to ensure that the corresponding payment for the purchase price to be paid in full and on time.

4. Transfer (Deregistration) and Delivery of the Vessel

4.1 The Buyers shall pay the entire bidding service fee no later than 16:00 on December 12^th, 2022 (Beijing Time). And the Buyers shall remit the balance of the Purchase Price, estimated ROB charge and other delivery monies (if any) to the escrow account, at least TWO (2) working days prior to the Vessel’s expected delivery date. Any delay or failure to pay fees mentioned above shall be deemed as a breach of the Bidding Announcement and the MOA.

4.2 The original owner (as the Sellers) should complete all the deregistration procedures relating to the Vessel within 10 Banking Days after signing PODA.

Notice of Readiness shall not be tendered before:  December 15^th, 2022; 

The Latest Delivery Date: January 15^th, 2023. 

If the Delivery indeed has to be postponed due to the influence of Novel Coronavirus Pneumonia or other force majeure factors, a new Latest Delivery Date should be fixed between the Sellers and the Buyers.
4.3 Delivery Place: The Vessel shall be delivered and taken on an “as is where is” basis, as she is and where she is at the time that the Buyers take delivery at one safe berth or anchorage at Pingtan port of Fujian Province, China at Sellers’ option. The Sellers are not responsible for any time and cost for Buyers to take delivery of the Vessel which shall be for the Buyers’ account.

The Buyers shall be deemed to confirm accept the Vessel’s condition if they did not inspect the Vessel within the prescribed inspection time. 

4.4 The subject Vessel shall be bided with mortgage and the Sellers would settle the debts and credits and terminate the mortgage contract within THREE (3) Banking Days after successful bidding (subject to the Auction Confirmation signed by the Buyers), and supply the Buyers with the Certificate of Deregistration of Mortgage.

4.5 The Buyers outside the People’s Republic of China shall entrust the export agent designated by Zhejiang Shipping Exchange Market Co., Ltd. after successful bidding to finish the export formalities at the Buyers’ account and arrangement. The Sellers, the Buyers and the export agent shall sign the Ship Export Agent Agreement, and the Sellers shall be responsible to assist, if any.

5. Related Expenses

5.1 Bidding service fee: After the bidding, the Buyers shall pay the bidding company 1% of the purchase price as bidding service fee.

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 Buyers with commercial invoice of the purchase price and ROB charge.

5.4 On delivery, the Buyers and the Sellers shall take measurement of the remaining fuel oils, bunkers and unused lubricating The Buyers shall take over remaining bunkers and unused lubricating and hydraulic oils and grease in storage tanks and unopened drums and pay with the last actual net price (exclude barging expenses) as evidenced by invoices or vouchers; or if the invoices or vouchers are not available, the Platts Shanghai price on the 3rd Banking Days prior to the date of delivery to be applied.

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 Market Co., Ltd.

Zhoushan Yi Ge Ship Auction Co., Ltd.

November 23^rd, 2022