Home>Guangzhou Maritime Court Notice of Auction of ship “Varada”

Guangzhou Maritime Court Notice of Auction of ship “Varada”

Auction phase First

Starting price: 100 million yuan

Security deposit: 10 million yuan

Ship type: Tanker

Port of registry: Singapore

Length: 320 meters

Gross tonnage: 156,539 tons

Construction completion date: May 15, 1993

Shipbuilding site: South Korea

Breadth: 58 meters

Depth: 31 meters

Net weight: 108,433 tons

Issuing court : Guangzhou Maritime Court

Issuing date: Sept 29. 2016    Expiration date: Oct 30, 2016

Auction type: Online

Auction type: https://sf.taobao.com/020/01

Ship Auction Notice

Guangzhou Maritime Court Notice of Auction of ship “Varada”

Issueing date: Sep 29,2016 Expiration date: 2016-10-30


Guangzhou Maritime Court

Notice of Auction 

In accordance with its verdict no. 188, the court has determined that it will auction the ship “Varada” owned by VaradaOne Pte Ltd.

1. Item to be auctioned: the ship “Varada”

Total weight: 156,539 tons

Length: 332 meters

Molded breadth: 58 meters

Molded depth: 31 meters

Port of registry: Singapore

The ship is now berthed at 13ZH anchorage which is south of the Pearl River estuary Zhizhou Islands in China.  For details of its technical specifications (including test report), please log in the website http://www.cnaas.com.cn  and see the basic information column.

2. Auction method:

The Ship Auction Committee founded by the Court in accordance with law will sell the ship through bidding via an online judicial auction platform on the website of https://sf.taobao.com/020/01?spm=a213w.3065169.courtList.154.p6djMH.

3. Qualifications for a bidder:

Any natural or legal persons with full capacity for civil conduct and some organizations are allowed to participate.

A bidder without a Taobao account can entrust another (natural or legal person with full capacity for civil conduct) with such an account to act on his/her behalf in bidding, on the basis that the bidder has submitted to the court a power of attorney bearing the bidder’s signature or seal. The bidder or his/her trustee should go to the court to sign a sales confirmation and handle the transfer procedures after the auction is completed.  If transfer formalities are incomplete, the bidding activity will be recognized as the trustee’s rather than the bidder’s.

If a bidder fails to meet all the requirements, any consequences shall be the responsibility of  the bidder himself/herself.

4. Time: from 10 am, Nov 1, 2016 to 10 am, Nov 2, 2016

When there is an offer in the last two minutes, the auction will be extended automatically by five minutes. 

5. Rules:

It is an English auction with a reserve price, which means no offer lower than that price will be accepted.

The starting price is 100 million yuan and each offer should add multiples of one million yuan, with a deposit of 10 million yuan.

Before an auction, Taobao will freeze bidders’ Alipay accounts as deposits, which will be automatically unfrozen  without interest if their bid is unsuccessful. The winning bidder’s deposit will be automatically transferred to the court’s designated account (Account Name: 广州海事法院, Account Bank: Agricultural Bank of China Guangzhou Xinjiao Branch, Account Number: 44048201040020917) and the balance must be paid by Nov 8, 2016.

Bidders should read the court’s Auction Instructions thoroughly before the auction.

6. Time and methods for consultations with the court:

Interested people are welcome to contact the court for more information or to arrange an on-site inspection of the ship.

7. The ship details are subject to its current situation and the court will not bear any warranty liabilities for any defect. Please see the ship on site and those who fail to do so shall be deemed to have carried out such an inspection and shall be responsible for any consequences. The ship will be delivered at the anchorage. The remained fuel oil should be settled at the market price and the buyer should pay it in addition to the auction price.

8. The ownership transfer registration procedure should be handled by the buyer at the relevant ship registration office on the basis of legal instrument issued by the court.  The buyer shall bear all taxes and costs in this process.

9. Any person having an interest in the ship (including the case litigants and security right holders including preemptive right holders) can join the auction, and if not, please pay close attention to it. In case a ship’s preemptive right holder doesn’t show up at the auction, he will be regarded as having given up the priority.

10. Debts related to the ship should be reported to the court for registration within 60 days after the issuance of this notice. Otherwise, they will not be paid from the auction proceeds.

11. Contact information

Consultation on registration of the claims: 020-34063863

Consultation on an on-site inspection of the ship: 020-84103953、89103952

Consultation on the online auction: 020-34063680、 89104345

Supervisory hotline: 020-34063336、89024639

Taobao website technical support: 4008222870

Court address: No 6, Lujiang West Street, Xingang West Road, Guangzhou, Guangdong.

Website: http://www.gzhsfy.gov.cn/


Guangzhou Maritime Court

Sept 8, 2016