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Bidding Ending Information
2021-10-20 16:00
2021-10-20 19:37
Total Bid:
11 times
Final Price:
Bidding Winner:
Bidding Status:
Starting Price:$16,230,000 USD
Bid Increment:$50,000 USD
Bidding Deposit:$1,630,000 USD
Preemption Claimant:None
Evaluation Price:None
Bidding Period:3 hours
Extension Cycle:10 min/time
Reserved Price:None
Type: General
Bidding History(11)
Status Bidder Price(USD)
611 $16,730,000
912 $16,680,000
611 $16,630,000
912 $16,580,000
611 $16,530,000
908 $16,480,000
611 $16,430,000
908 $16,380,000
611 $16,330,000
908 $16,280,000
More Details
Ship name
Type of vessel Bulk Carrier
Entrust institution ZHEJIANG SHIPPING EXCHANGE Reference price(USD) 16230000
State of the auction First auction Auction date 2021-10-20
Ship's classification BV Length overall(m) 225.00
Port of registry Length(m)
Molded breadth(m) 32.26 Molded depth(m) 19.60
Gross tonnage 41101.00 Deadweight/
Reference capacity(t)
Type of main engine MAN B&W 5S60MC-C7 Total fixed power
(KW / h)
Shipyard PENGLAI ZHONGBAI JINGLU SHIP INDUSTRY CO.,LTD Completion date 2011-10-28
completion date
Bidding Rules
Special Provisions
Technical Report
Bidding History(11)

Entrusted by the transferor (the Sellers), we have decided to hold a public bidding on from 16:00 to 19:00 (Beijing Time) on October 20th, 2021.


1. Bidding Object: MV “SHANDONG HAI CHANG”, Panamax Bulk Carrier;

PoR: Hong Kong; Class: BV; LOA: 225m; MLB: 32.26m; MLD: 19.60m; Summer DWT: 75081t on 14.219m draft; GRT: 41101; NRT: 25643; Grain Capacity: 89728 m3; M/E: (Hyundai) MAN B&W 5S60MC-C7* 1 set, 8833kW@105rpm; Built: Oct.28th, 2011 at Penglai Zhongbai Jinglu Ship Industry Co., Ltd. (Exact data please refer to ship’s certificates)


·The ship is on voyage without Ballast Water Treatment Plant.

·The Sellers have placed the order for Ballast Water Treatment Plant. If the Buyers want, the order can be transferred to the Buyers with extra cost.

·DD/SS will be due on Oct.27th, 2021, and expected to be extended till Jan.27th, 2022 before delivery.


2. Bidding Rules: It has no reserved price. If only one bidder is collected, the bidder shall be identified as the Buyers; if two (or more than two) bidders are collected, we will confirm the Buyers by bidding. The starting price is USD 16.23 million, and the bidding deposit is USD 1.63 million (or RMB10.52 million). Bid Increment: a multiple of USD 0.05 million.


If the Buyers pay the deposit in US dollars when applying for the bidding, it will be automatically converted as part of purchase fund after the bidding. If the Buyers pay the deposit in CNY, Buyers shall pay another USD 1.63 million separately to the bidding company’s designated US dollar account within 2 working days upon the completion of the bidding. The bidding company shall return the RMB deposit fully back to the Buyers within 1 working day after the receipt of the US deposit.


3. Application: Application time available from the announcing time until bidding starts on Oct.20th, 2021(Beijing Time) (subject to the arrival time of bidding deposit, the completion of online registration and the receipt of the bidding number. It is recommended to pay deposit 1-2 days in advance in order to avoid any problems). After the deadline, no application will be accepted. Only legal registered companies are qualified to apply this bidding.


4. Inspection of the Ship: Inspection time to be declared later according to the specific voyage and port arrangement, and will issue the notice in advance if possible; please confirm with the bidding company for inspection details. The risk and cost of the surveyors in the process of inspection shall be borne by the intended Buyers, the Sellers shall be responsible for the coordination work only; those who fail to participate in the on-site inspection and complete the registration procedures within the prescribed inspection time shall be deemed to have recognized and accepted the status quo and defects of the bidding ship, including but not limited to all known and unknown defects related to the ship certificates, ship condition, etc. The intended Buyers shall not raise any objection to the quality or other defects of the Ship for any reason.


5. Account of Bidding Company:

USD Account:




Acct: 3309040160000372942

Beneficiary: Zhoushan Yi Ge Ship Auction Co., Ltd

Beneficiary Add: 6th Floor, No.555 Wengshan Road, Zhoushan, Zhejiang, China

Remittance Reference: SHANDONG HAI CHANG


CNY Account:





6. Contacts: Ms. Chen+86-18058087026, +86-580-2038889;

                    Ms. Ye+86-580-2027516



Zhejiang Shipping Exchange Co., Ltd.

Zhoushan Yi Ge Ship Auction Co., Ltd.

September 14th, 2021

Bidding Rules

Article 1 Bidding Rules is made by relevant laws, regulations and policies of our Country 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.

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 announcement and other documents are formulated by the auctioneer.

Article 5 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.

Article 6 The Seller shall take all the legal responsibilities and economic losses if he provides with fake information.

Article 7 The bidders couldn’t participate in the bidding activities until they register as the buyers through the Shipbid system.  

The 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 8 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 9 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 10 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 11 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 12 The bidder shall make a cautious bid, and the offer will be irrevocable once submitted.

Article 13 The last limited time of the Shipbid is TEN (10) minutes. If there is a new bid within 10 minutes countdown, another 10 minutes will be set.

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

Article 14 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 15 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's qualification is not approved, the bidding result will be invalid, the deposit would be confiscated, and the lot should be bid again. The Buyer should pay the commissions for both parties due to his breach of the contract; Also, the previous Buyer should pay the balance of price if the final purchase price is lower than the first purchase one.

Article 16 The payment of balance shall be remitted to the nominated account in time according to the Purchase Confirmation.

Article 17 The Buyer should sign the Sale and Purchase Agreement by the Purchase Confirmation with the seller within the required time and make relevant transaction procedures.

Article 18 The auctioneer should publicize the bidding results through the Shipbid system after the bidding.

Article 19 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 20 The Buyer himself should register the lot and bear all relevant expenses occurred according to the regulations and policies during the transaction procedures.

Article 21 The bidding currency is US dollar. Both the starting price and purchase price do not include the expenses and taxes occurred during transaction procedures.

Article 22 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 23 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 24 The auctioneer reserves the right to suspend or withdraw the bidding before it starts according to the laws and regulations.

Article 25 The auctioneer reserves the right to suspend or withdraw the bidding if force majeure or accident has caused the online auction to fail.

Article 26 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.

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.


Special Provisions


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


2. Bidding Object: MV “SHANDONG HAI CHANG”, Panamax Bulk Carrier;

PoR: Hong Kong; Class: BV; LOA: 225m; MLB: 32.26m; MLD: 19.60m; Summer DWT: 75081t on 14.219m draft; GRT: 41101; NRT: 25643; Grain Capacity: 89728 m3; M/E: (Hyundai) MAN B&W 5S60MC-C7* 1 set, 8833kW@105rpm; Built: Oct.28th, 2011 at Penglai Zhongbai Jinglu Ship Industry Co., Ltd.



· The ship is on voyage without Ballast Water Treatment Plant.

· The Sellers have placed the order for Ballast Water Treatment Plant. If the Buyers want, the order can be transferred to the Buyers with extra cost.

· DD/SS will be due on Oct.27th, 2021, and expected to be extended till Jan.27th, 2022 before delivery.


The above data are recorded in the ship's inspection certificate for reference only. The bidding object is subject to the status at the time of inspection. If there is any discrepancy between the actual situation and the data above, the bidding and bidding price won’t be disturbed. Once the bidding is concluded, the bidding company and the Sellers shall not assume any liability for defects or quality problems of the bidding ship.


3. Application Process:

 Sign up on

 Pay the bidding deposit

 Apply for bidding and upload the documents required

 Get the bidding number


4. After Bidding

4.1 After the bidding finished, the buyer must confirm the result of bidding by email or fax on the same day, and sign the Original Auction Confirmation with the bidding company within 2 working days and sign MOA (NSF2012) with the Sellers within 5 working days after the bidding.


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


4.3 It’s acknowledged the dollar account designated by the bidding company is the escrow account for the Buyers and Sellers to hold and release the funds of the Purchase Price. After signing the Protocol of Delivery and Acceptance (PODA) and the Payment Release letter, the bidding company shall release all the purchase funds to the Sellers within 3 working days. The bidding company shall not charge any additional fee for the escrow service of funds. If other Third Party proposed by the Buyers and agreed by the Sellers as the Escrow Agent, all relevant costs will be borne by the Buyers.


5. Transfer (Deletion) and Delivery of the Ship

5.1 The Buyers shall pay all the bidding commission not later than 16:00 October 22nd, 2021 (Beijing Time), and remit the balance of the Purchase Price and estimated ROB charge to the Sellers’ account, at least TWO (2) working days prior to the Vessel’s expected delivery date (The bidding deposit will be automatically converted into purchase deposit after signing MOA, and will be held by the bidding company with interest-free). Any delay shall be deemed as breach of the MOA.


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

Notice of Readiness shall not be tendered before: November 1st, 2021

Cancelling Date: January 10th, 2022;

If the Delivery indeed to be extended due to the influence of Novel Coronavirus Pneumonia or other force majeure factors, the Sellers will negotiate with the Buyers and fix a new delivery date.


5.3 Delivery Place: 1 SAP Singapore – Japan range (intended China), in Sellers’ option. The Sellers shall send the notice with intended delivery time and place 15 days in advance. The ship would deliver against the inspected condition. The Buyers shall be deemed to confirm the ship’s condition if they did not inspect the ship at the nominated time.


5.4 The sales and purchases contract will be negotiated, revised and signed basis on SALEFORM 2012 made by Norwegian Shipbrokers’ Association.Please refer to the attached MOA in Supplement Part.


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


5.6 The hired equipment: Marinesat S100-X7 & Iridium Pilot * 1 set is excluded from this Sale.


6. Related expenses

6.1 Bidding commission: After the bidding, the Buyers shall pay the bidding company 1% of the purchase price as commission (settled in USD).


6.2 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.


6.3 The cost of Ballast Water Treatment Plant is not included in the final purchase price.

6.4 The Sellers would provide with commercial invoice of the purchase price. All the taxes, expenses and costs incurred after the ship delivery and deletion formalities shall be borne by the Buyers themselves.


6.5 On delivery, the Buyers and the Sellers shall make measurement of the remaining oils onboard, and the price of oils shall refer to actual net price as evidenced by invoice or vouchers. If the invoice or vouchers is not available, the listed price in the Shanghai Platts 4 business days prior to the delivery shall be adopted. The Sellers would provide with commercial invoice of ROB.


6.6 All expenses and the custody responsibility incurred before delivery of the ship shall be borne by the Sellers; after delivery of the ship, all the expenses and risks incurred and custody responsibility shall be borne by the Buyers. 


7. Matters not covered herein shall be settled through negotiation by the bidding company, the Sellers and buyer.



Zhejiang Shipping Exchange Co., Ltd.

Zhoushan Yi Ge Ship Auction Co., Ltd.

September 14th, 2021


Technical Report

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Bidding History
Status Bidder Price(USD) Time
$16,730,000 2021-10-20 19:27:09
$16,680,0002021-10-20 19:26:55
$16,630,0002021-10-20 19:17:04
$16,580,0002021-10-20 19:16:47
$16,530,0002021-10-20 19:07:03
$16,480,0002021-10-20 19:06:45
$16,430,0002021-10-20 19:02:24
$16,380,0002021-10-20 18:58:12
$16,330,0002021-10-20 18:54:17
$16,280,0002021-10-20 16:20:44
$16,230,0002021-10-20 16:05:00
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