Bidding Announcement of MV “Great Voyage”

Commissioned by our entrusting party, Guangzhou Shipping Exchange Co., Ltd. (GSE) and Hang Qing Bao Auction Co., Ltd. determines to organize an online bidding for one ultramax bulk carrier M.V. Great Voyage. The announcement is stated as follows.

I.Bidding Subjects Description

Reserve Price: USD30,500,000.00;

Auction Deposit: USD3,050,000.00 or CNY21,800,000.00; 

Increment：≥USD20,000.00.

All the static information about the ships are for reference only.

II. Qualifications and Registration of Bidders

Any corporation inside or outside The People's Republic of China with full capacity for civil conduct and lawfully existing June participate in this bidding.

Please note that The current Charterer has the preemptive right to buy this vessel.After the closing of the auction, the Charterer has three banking days to decide whether to match the highest offer price in bidding to purchase the vessel.

Interested bidders shall visit https://www.gse020.com to register a overseas member account and become a qualified bidder.The following documents are required to upload in the process of applying for a bidding:

1.Transfer voucher or bank slip of Auction Deposit payment from the paying bank. 

2.Identity documents of the bidder: scanned copies of Certificate of Incorporation, Business Profile for shareholder identification, passport copy of Director and Power of Attorney and the specimen signature of bidder are needed.

3. If the bidder with the right of preemption participates in the bidding, he shall submit legal and valid proof, and can participate in the bidding as a person with the right of preemption after approval.

4.ID documents, Power of Attorney, Company licenses and other files approved by GSE and the Entrusting Party are needed if the bidder commissions a ship broker to service. 

5. All time stated in this announcement are Beijing time.

Deadline for online bidding registration:12:00 September 17,2025.Please upload all foresaid files before this time.

A qualified bidder refers to a bidder finishing the following steps and be fully aware of, accepting and complying with the contents of this announcement and the measures for the implementation of the bidding of GSE:

a)Finish registration of a overseas member account

b)Pass the identity audit

c)Remit the Auction Deposit and upload the foresaid files 

d)The receipt of the Auction Deposit received by GSE

e)Pass the bidding registration audit

f)Get a bidding number   

III. Auction Deposit

Bidders shall remit the Auction Deposit of $3,050,000.00 or ¥21,800,000.00 to GSE, and the fund should be received by the following accounts before 12:00 on September 17,2025.In principle,the name of the deposit payer should be consistent with the bidder’s name and final buyer’s name. Any bidder remitted Auction Deposit shall be deemed to be fully aware of and accepting all the known and unknown defects of the ship.

USD Account:

BENE’s Name：Guangzhou Shipping Exchange Co., Ltd.

BENE’s Address :R701, Nansha International Talent Port Building No.167, Haibin Avenue, Nansha District, Guangzhou China.

BENE’s Account No：120912473032001

Bank Name：China Merchants Bank Guangzhou Branch

Bank Address: No.5 Huasui Road,Tianhe District,Guangzhou，China

SWIFT CODE：CMBCCNBS131

Note: Auciton Deposit of M.V.Great Voyage

Any bidders failed to remit the Auction Deposit as required will be deemed as invalid bidders. The bid winner is called the“Buyer”. The Auction Deposit paid by the Buyer will be automatically converted into the Performance Deposit after MOA is duly signed. Unsuccessful bidders’ Auction Deposits will be refunded in full amount free of interest within five working days upon the Buyer’s winning the bidding.

IV. Bidding Time and Rules

The whole bidding process is consisted of a fixed time bidding and the extension time bidding. The fixed time bidding:16:00 to 16:30, September 17, 2025，the extension time bidding begins from 16:30. The last valid bidder shall be the candidate winning bidder. The termination of this bidding come in to force when no bidder bids before the countdown runs out.

This online bidding is organized at https://www.gse020.com/#/vesselbidding by Guangzhou Shipping Exchange Platform(GSEP). The first bid shall not be lower than the starting price, the increment price on the next offer from the ordinary bidder is no less than USD20,000.The countdown shall automatically restart from 4 minutes when a bidder bids in the extension time bidding stage. At the end of countdown, the latest bidder who offers the highest price shall become the candidate winning bidder.

Bidders must bid with cautious, and bidders are responsible for all operations under this account. Each member account can only be logged in on one terminal device. In order to ensure the normal operations of bidders, it is recommended to use a computer with 360 browser or IE browser . Do not use mobile phone to bid.

The server time of https://www.gse020.com/#/vesselbidding is deemed as the official time of this bidding. GSE, Hang Qing Bao Auction Co., Ltd. and the Entrusting Party assume no responsibility when reasons lead to the failure of bidders participating in the bidding due to personal time inconsistency, terminal device or network failure.

GSE, Hang Qing Bao Auction Co., Ltd.and the Entrusting Party assume no responsibility when website anomaly and suspension of bidding occurs due to force majeure or (and) the cause of third party. GSE and Hang Qing Bao Auction Co., Ltd. will release a supplement announcement for the suspension of bidding.A new bidding announcement will be released after the website service comes back up.

V. Confirmation of Bidding Result

As required by our entrusting party,the current Charterer shall have the right to declare their decision to/to not buy the Vessel upon the basis of the winning Price and the terms and conditions of this announcement,within three banking days after the winning biding price generated.Guangzhou Shipping Exchange Co., Ltd will issue the Notification of Award to the bid winner on September 22, 2025 according to the written confirmation from the ship Owner,and the final bidding result will be released in Guangzhou shipping trading platform.After being confirmed as the winning bidder(Buyer), the Buyer must sign the Letter of Affirmation of Bidding by Email on the day when the result of bidding is generated.Then,the Buyer must contact the Seller and sign the “Memorandum of Agreement” (MOA)within twenty working days after the wining of the bidding.The MOA text is based on “Memorandum of Agreement Norwegian Sale Form 2012” (NSF’2012) as attached.In principle, no other modification shall be made in the MOA except to input the necessary information of the Buyer and the Seller and the terms agreed upon by both parties. The MOA terms are attached to this bidding announcement,the attached text shall prevail.In case of the Buyer refusing to sign the “Letter of Affirmation of Bidding” and (or)“Memorandum of Agreement” within the time specified in this announcement shall be deemed as the behavior of default, the Buyer must compensate for the loss, assume legal liability and the Auction Deposit will not be refunded. 

VI. Commission

The Buyer shall pay the commission of this bidding at 1% of the purchase price, the payment must be remitted to GSE in full within three working days after signing the MOA .

VII. Payment

The Buyer shall pay the full Purchase Price in accordance with the terms and conditons of the MOA.Overdue payment will be deemed as default.The Buyer shall not be entitled to demand the refund of the Auction Deposit. GSE has the right to reorganize the bidding. In the case of re-bidding, the original Buyer shall pay the commission for the first bidding. Should the price of a re-bidding be lower than the price of the original bidding price, the original Buyer shall pay for the balance.

VIII. Delivery and Acceptance

The scheduled delivery time is not earlier than February 28th,2026. Cancelling Date:April 28th,2026.The Buyer shall pay the full transaction amount and other related charges before signing the Protocol of Delivery and Acceptance (PODA).

IX.Invoices

The Seller will issue commercial invoices of the vessel and the bunker ROB. All taxes and fees arising from the transfer shall be borne by the Buyer. If the ship needs to be imported into PRC, the Buyer shall be responsible for the import procedures and pay all the expenses related. The Seller shall only be responsible for providing necessary documents and cooperating with the relevant procedures.

X. Bunkers

The remaining fuel is not included in this bidding.The amount of the remaining bunkers and unopened lubricating and hydraulic oils and unused greases in storage tanks,daily tank, sump and unopened drums shall be jointly made on-site measurement by the Seller and the Buyer on the day of delivery. The settlement price of ROB shall be fulfilled as per the terms of MOA.The price of the fuels do not include taxes, any taxes or fees incurred shall be on Buyer’s account. 

XI. Risks and Responsibilities

The time of delivery and acceptance shall be subject to the time signed in the Protocol of Delivery and Acceptance.All expenses,risks and responsibility related to the vessel is for the Seller before the signing of PODA. After mutual signing the PODA, all the expenses, risks and responsibility arising from the vessel shall be borne by the Buyer. The details of the MOA shall prevail.

XII. Disclaimer

All description, video and pictures provided about the ship is for reference only, GSE and Hang Qing Bao Auction Co.,Ltd. does not constitute any guarantee for the ship. 

The Seller sells this vessel basis of “as is, where is”.A bidder remits Auction Deposit is deemed as fully understood all the circumstances of the ship, including but not limited to certificates, status and all known and unknown defects of the ship. Bidders shall not be entitled to demur to the quality and defects of the ship with any reason,unless otherwise agreed in the final effective MOA.

Obstructing other bidders from bidding, manipulating or monopolize the bidding price and collusion of bidders are prohibited. Once discovered, the bidder will be disqualified, investigated, and affixed legal liabilities.

4 sets grabs on board are included in the purchase price.Other matters not mentioned shall be subject to the relevant terms and conditions of the attached Memorandum of Agreement.

This announcement is described in both Chinese and English. If any discrepancy occurs between the two languages, the Chinese version shall prevail.

XIII. Inspection

Berth ports during the announcement period.Please carefully review this announcement and the subsequent vessel’s inspection report provided to understand the vessel's condition.

Delivery Location:at a safe and accessible berth or anchorage at/in a port in Singapore-Japan range in the Sellers' option, the details are to be confirmed basis the itinerary plan.

XIV. Contact

Ms. Qin:+86 13802779424, qinyi@gse020.com;

Mr. Luo:+86 15989038060,luozy@gse020.com.

Mr Liao:+86 13580433746,liaoxuan@gse020.com.

Here by notice.

MV Great Voyage-MOA-NSF2012 Form for auctionGreat_Voyage_-_SAFEFORM_(HD_Draft_-_7_Aug_2025).pdf

Guangzhou Shipping Exchange Co., Ltd.

Guangzhou Hang Qing Bao Auction Co.,Ltd.

August 11, 2025  

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