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Bidding Announcement of “RUI JIN” Bulk Carrier
Auction ending information
2021-04-21 10:00
2021-04-21 11:13
Total bid:
51 times
End price:
Top bidder:
Ending type:
Start price:$1,670,000 USD
or¥11,690,000 CNY
Bid Increment:$5,000 USD
or¥35,000 CNY
Deposit:$300,000 USD
or¥2,100,000 CNY
Preemptive person:No
Online consultation
Appraise price:No
Bidding cycle:0.5 hours
Postpone:5 minutes/time
Reserve price:No
Type: Others
Bid history(51)
State Bidder Price(USD/CNY)
127 $2,025,000/¥14,175,000
393 $2,020,000/¥14,140,000
127 $2,015,000/¥14,105,000
912 $2,010,000/¥14,070,000
127 $2,005,000/¥14,035,000
960 $2,000,000/¥14,000,000
127 $1,995,000/¥13,965,000
960 $1,990,000/¥13,930,000
127 $1,985,000/¥13,895,000
960 $1,980,000/¥13,860,000
Ship name
Type of vessel Bulk Carrier
Entrust institution ZHEJIANG SHIPPING EXCHANGE Reference price(USD) 1670000
State of the auction First auction Auction date 2021-04-21
Ship's classification IRS Length overall(m) 0.00
Port of registry Length(m) 161.21
Molded breadth(m) 27.20 Molded depth(m) 13.60
Gross tonnage 16725.00 Deadweight/
Reference capacity(t)
Type of main engine MITSUI B&W 5S50MC Total fixed power
(KW / h)
Shipyard Completion date 1990-02-23
completion date
Bid history(51)


Entrusted by the transferor, we decide to hold an online public auction on from 10:00 to 10:30 on April 21st, 2021.


1. Auction Object: “RUI JIN” Bulk Carrier

PoR: Malakal Harbor; Class: IRS; IMO number8919104Length: 161.21m; MLB: 27.2m; MLD: 13.6m; GRT: 16725; NRT: 10435; DWT: 28493t; M/E: MITSUI B&W 5S50MC* 1 set 5733kW; Blt: Imabari Shipbuilding,Japan. (data above refers to the ship inspection certificate)


2. Bidding Rules: it has no reserved price. If only one bidder is collected, the bidder shall be identified as the transferee; If two (or more than two) bidders are collected, we will confirm the transferee by auction. The starting price is USD1.67 million (or RMB 11.69 million), and the deposit is USD 0.3 million (or RMB 2.1 million). Bid increase: a multiple of USD 0.005 million (or RMB 0.035 million).


3. Application: Application time: from the announcing time until bidding starts on April 21st, 2021 (subject to the time of deposit, finish online registration and get the bidding number. It is recommended to pay deposit 1-2 days in advance in order to avoid any problems). The deadline for paying USD deposit is Beijing time PM 16:00 on April 20th, 2021. This auction accepts the application of natural persons with full civil capacity or legal registered companies at home and abroad.


4. Inspection time: From 19th to 20th of April, 2021; Place: Zhejiang Shipbuilding Co.,Ltd ; The risk of the surveyors in the process of inspection shall be borne by the intended transferee; 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 object.


5. Deposit Account:

USD Acct:

Beneficiary: Zhoushan Yi Ge Ship Auction Co., Ltd

Acct: 1206020129201407315

Bank: Industrial and Commercial Bank of China, Zhejiang Provincial Branch

Bank Add: 150 Zhonghe Road Central 310009 Hangzhou China



RMB Acct:





6. Contacts: Mr. Zhou+86-18058087036, +86-580-2038333;

Mrs. Ye+86-580-2027516




Zhejiang Shipping Exchange Co., Ltd.

Zhoushan Yi Ge Ship Auction Co., Ltd.

April 13th, 2021


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. Foreign bidders could also apply for bidding with the Guarantee Letter of bank as the auctioneer required. 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) or the original Letter of Guarantee delivered to the auctioneer (based on the arrival time of the Letter of Guarantee to persons in charge) within the required time. The bidders shall not be eligible for bidding if the deposit is delayed or not fully paid or the Letter of Guarantee is not received 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 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 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 3 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 USD. 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.




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


2. Auction Ship:

“RUI JIN” Bulk Carrier

PoR: Malakal Harbor; Class: IRS; IMO number8919104Length: 161.21m; MLB: 27.2m; MLD: 13.6m; GRT: 16725; NRT: 10435; DWT: 28493t; M/E: MITSUI B&W 5S50MC* 1 set 5733kW; Blt: Imabari Shipbuilding,Japan. (data above refers to the ship inspection certificate)


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 auction is concluded, the bidding company and the transferor shall not assume any liability for defects or quality problems of the bidding target.

3. Application

The bidders shall pay the bid deposit when signing up, and provide other documents required by the transferor or the bidding company.


4. After Auction

4.1 After the auction finished, the buyer must confirm the result of auction by email or fax on the same day, and signed the Purchase Confirmation with the bidding company within 2 working days after the auction.


4.2 The bid deposits of the unsuccessful bidders shall be returned within 2 working days after the auction, and the bid deposit shall not bear interest.


4.3 The conversion rate between USD and CNY shall be based on the Conversion Rate of Bank of China on the date of the auction.


5. Transfer and Delivery of the Ship

5.1 The buyer must pay all the commission before 16:00 (Beijing Time) April 23rd, 2021, while the buyer must pay the balance of the purchase price one working day before the delivery (The buyer’s deposit can offset the purchase price). Any delay shall be deemed as breach of contract.


5.2 The latest delivery date: May 10th, 2021 and delivery place is Zhejiang Ship Building Co., Ltd. .


6. Related expenses and duty

6.1 Auction commission: After the auction is completed, the buyer must pay the auctioneer RMB 0.295 million as commission (or the same amount in USD after conversion).

6.2 The transferor doesn’t provide invoice of the purchase price. All expenses and risks incurred after the ship delivery shall be borne by the buyer himself.


6.3 This auction includes all ROB on board while delivery.


6.4 The ship is a foreign ship, which can only be operated international routes and cannot be used as a domestic trade ship or dismantled by a domestic ship-dismantling enterprise. If the buyer privately operates or dismantles it in China after the auction, all the economic responsibilities and legal consequences arising therefrom shall be borne by the buyer himself.


6.5 As for whether the ship can go through the formalities of naturalization and the handling time, the bidder shall consult and confirm the relevant departments by himself before bidding, and the buyer shall go through the formalities of ownership transfer registration by himself. The consequences of failure or delay in going through the relevant formalities due to the current situation and defects of the subject matter shall be borne by himself. The buyer is requested to assess the risk of ownership transfer by himself, and all the consequences caused by this shall be borne by the buyer. The auctioneer and the transferor shall not bear the responsibility of guarantee for ownership transfer; The costs and taxes involved shall be borne by the buyer himself.


6.6 The auction target is only the ship, which doesn't involve relevant documents and certificates, the buyer shall verify by himself, and the transfer of ownership shall be borne by the buyer himself. The actual condition of the target ship shall prevail. The transferor and the auctioneer shall not assume any quality guarantee responsibility, and the buyer shall bear the related responsibility by himself. The problems arising therefrom shall not affect the auction result and transaction price.


6.7 Taking the time of delivery as the boundary, all expenses incurred before delivery and the custody responsibility shall be borne by the transferor; After the delivery, the expenses and risks incurred shall be borne by the buyer, and the custody responsibility shall also be borne by the buyer.


7. Matters not covered herein shall be settled through negotiation by the auctioneer, the transferor and the buyer.



Zhejiang Shipping Exchange Co., Ltd.

Zhoushan Yi Ge Ship Auction Co., Ltd.

April 13th, 2021

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Bid history
State Bidder Price(USD/CNY) Time
$2,025,000/¥14,175,000 2021-04-21 11:08:45
$2,020,000/¥14,140,0002021-04-21 11:07:26
$2,015,000/¥14,105,0002021-04-21 11:06:47
$2,010,000/¥14,070,0002021-04-21 11:06:36
$2,005,000/¥14,035,0002021-04-21 11:01:41
$2,000,000/¥14,000,0002021-04-21 11:01:32
$1,995,000/¥13,965,0002021-04-21 10:57:46
$1,990,000/¥13,930,0002021-04-21 10:57:36
$1,985,000/¥13,895,0002021-04-21 10:53:32
$1,980,000/¥13,860,0002021-04-21 10:53:19
$1,975,000/¥13,825,0002021-04-21 10:49:14
$1,885,000/¥13,195,0002021-04-21 10:48:39
$1,880,000/¥13,160,0002021-04-21 10:44:32
$1,875,000/¥13,125,0002021-04-21 10:44:20
$1,870,000/¥13,090,0002021-04-21 10:40:13
$1,865,000/¥13,055,0002021-04-21 10:40:05
$1,860,000/¥13,020,0002021-04-21 10:37:04
$1,855,000/¥12,985,0002021-04-21 10:36:59
$1,850,000/¥12,950,0002021-04-21 10:33:46
$1,845,000/¥12,915,0002021-04-21 10:33:35
$1,840,000/¥12,880,0002021-04-21 10:33:16
$1,835,000/¥12,845,0002021-04-21 10:33:10
$1,830,000/¥12,810,0002021-04-21 10:30:39
$1,825,000/¥12,775,0002021-04-21 10:30:31
$1,820,000/¥12,740,0002021-04-21 10:29:35
$1,815,000/¥12,705,0002021-04-21 10:29:26
$1,810,000/¥12,670,0002021-04-21 10:28:57
$1,805,000/¥12,635,0002021-04-21 10:28:48
$1,800,000/¥12,600,0002021-04-21 10:27:22
$1,795,000/¥12,565,0002021-04-21 10:27:13
$1,790,000/¥12,530,0002021-04-21 10:26:38
$1,785,000/¥12,495,0002021-04-21 10:26:14
$1,780,000/¥12,460,0002021-04-21 10:25:36
$1,765,000/¥12,355,0002021-04-21 10:25:15
$1,760,000/¥12,320,0002021-04-21 10:25:01
$1,755,000/¥12,285,0002021-04-21 10:24:52
$1,750,000/¥12,250,0002021-04-21 10:24:13
$1,745,000/¥12,215,0002021-04-21 10:23:44
$1,740,000/¥12,180,0002021-04-21 10:23:26
$1,735,000/¥12,145,0002021-04-21 10:22:48
$1,730,000/¥12,110,0002021-04-21 10:17:14
$1,725,000/¥12,075,0002021-04-21 10:16:45
$1,720,000/¥12,040,0002021-04-21 10:14:45
$1,705,000/¥11,935,0002021-04-21 10:13:20
$1,700,000/¥11,900,0002021-04-21 10:12:40
$1,695,000/¥11,865,0002021-04-21 10:08:25
$1,690,000/¥11,830,0002021-04-21 10:06:19
$1,685,000/¥11,795,0002021-04-21 10:05:29
$1,680,000/¥11,760,0002021-04-21 10:03:30
$1,675,000/¥11,725,0002021-04-21 10:02:44
$1,670,000/¥11,690,0002021-04-21 10:00:03
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