Bidding Announcement of Accommodation Work Barge “ZJ2025-0023”

July 30th, 2025

Entrusted by the Seller, our company (the “Auction Company”) is scheduled to conduct an online public auction on the Shipbid website (www.shipbid.net) from 16:00 to 16:30 (Beijing time) on September 11th, 2025 (“Auction Day”), which is hereby announced as follows:

1.Bidding Target:

Name: ZJ2025-0023 (the “Vessel”);

Type: Accommodation Work Barge;

Class: BKI(Biro Klasifikasi Indonesia);

Port of Registry: TANJUNG PRIOK;

Flag: Indonesia;

Class Notation: *A100*P Barge，Accommodation，Work

*A-SM

LOA: 95.40m; MLB: 30.00m; MLD: 6.50m;

GRT: 8402; NRT: 2520;

DWT: 16500t;

Summer Draft: 4.00m;

Accommodation: 300 persons;

Prime Mover of Main Generator: Cummins KT38-D (M), 4 x 674HP;

Main Generator: STAMFORD LVM634B1, 4 x 620 KVA/1800 RPM;

Emergency Generator: 1 x Cummins KT19-D (M);

Main Crane: SCM, YHG315080t-13m(5t-47m), SWL 80t;

Auxiliary Crane: SCM, YQ1600-10t-10M S/N, SWL 10t;

Built Time: July 6th, 2009;

Builder: BOJONEGARA, PT. SAMUDRA MARINE INDONESIA.

B.W. Tank : 5558.1m3; F.O. Tank: 1323.9m3;

F.W. Tank: 2690.3m3; Miscellaneous Tank: 115.6m3;

Last SS: August 19th, 2024;

Note: According to the information provided by the seller, the Vessel is in excellent working condition and is currently operating under contract with a well-known state-owned company as of July 2025. The vessel is scheduled to support multiple oil platforms in the South East Sumatra region over the next three years. Its current scope of work includes cable repairs, well intervention support, and general maintenance of aging offshore wells.

Prior to this assignment, from March 2024 to March 2025, the Vessel was fully engaged under a separate contract with another prominent state-owned oil and gas company. During that period, the Vessel supported offshore well drilling operations, providing critical accommodation, logistics, and deck support services throughout the drilling campaign.

(All the information and data refer to the Vessel provided in this Announcement, Special Provisions as well as the attachments are for reference only.)

2. Bidding Rules:

2.1 This Auction has a reserve price (the reserve price being the starting price, hereinafter collectively referred to as the “Starting Price” / “Reserve Price”). If only one bidder registers for the Auction, such bidder shall be determined as the Buyer on the Auction Day. If two or more bidders register for the Auction, the Buyer shall be determined during the course of the Auction. There is no right of first refusal in this Auction.

2.2 Starting Price: US$8.6888million;

Bidding Deposit: US$0.80million (or RMB6.00million) (the “Bidding Deposit”).

Each increment of the bidding price shall be in an integer multiple of US$20000.

2.3 The Auction will commence from 16:00 hours on the Auction Day (Beijing Time) will continue until 16:25 hours on the Auction Day (Beijing Time) after which time (A) if there is no new bid offered 5 minutes thereafter, the Auction will be deemed completed or (B) if there are further bids after 16:25 hours then the Auction will only be deemed completed when 5 minutes elapses from the time of the last entered bid.

2.4 The Bidding Deposit of unsuccessful bidders will be refunded within two (2) Banking Days after the end of the Auction, and each such Bidding Deposit will not accrue any interest. Bank or other charges incurred in relation to the remittance of each Bidding Deposit shall be borne by the relevant unsuccessful bidders.

2.5 The Purchase Price shall be settled in USD. If the overseas Buyer pay the deposit in CNY, the Buyer shall pay another USD 0.8 million separately to the Auction Company’s designated US dollar account within three (3) Banking Days after the Auction Confirmation has been signed. The Auction Company shall return the CNY deposit fully back to the Buyer within one (1) Banking Days after the receipt of the US deposit.

If the Buyer is a Chinese corporation or organization which pays in RMB, the Buyer shall appoint an importing agent company nominated by the Auction Company to exchange RMB into the equivalent amount of USD and proceed with the payment thereafter to lodge into the escrow account.

2.6 “Banking Day” means a business day (excluding Saturdays and Sundays) on which banks are open for general business at the places where the Seller, the Auction Company and the Escrow Agent are registered, as well as the locations of their respective account-opening banks.

2.7 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 (subject to the receipt of bidding deposit, the completion of online registration and the receipt of the bid number plate obtained on the platform. It is recommended that bidders pay the deposit 3-5 Banking Days in advance in order to avoid any issues resulting in missing the auction). No registration will be accepted after the 16:00 (Beijing Time) of the bidding date. After successful registration, the bidders shall be deemed to have fully known, accepted and complied with the contents of this announcement, bidding rules, special provisions, attachments and relevant agreements.

3.2 This Auction accepts any legally existing corporation or organization.

The bidders must ensure that they, their shareholders and ultimate beneficial owners are not subject to sanctions imposed by China, the United Nations, the European Union, or the United States, and have the ability to make and receive payments in US dollars (during the bidding or after the bidding, bidders must provide relevant explanations or proof materials according to reasonable needs).

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

(1) For bidders in Chinese mainland:

● 营业执照扫描件（加盖公章）

● 法定代表人身份证扫描件（加盖公章）

● 经办人身份证扫描件及授权委托书（如有，需加盖公章）

● 《参拍承诺书》（详见附件）

● 竞拍保证金付款凭证

(2) For overseas bidders:

● Certificate of Incorporation

● Articles of Incorporation

● Copy of Director’s Passport

● Undertaking for Bidding

● Bank slip of bidding deposit

4. Inspection of the Bidding Target:

Inspection is to be determined, please contact with the Auction Company for details.

Potential bidders may inspect the Vessel within the stipulated time. All the expenses, risks and responsibilities of the inspectors during the process shall be borne by the potential bidders. The Auction Company and the Seller 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. The successful bidder shall be deemed to accept the Vessel and its classification records in its prevailing condition on an “as-is-where-is” and shall not need or require an inspection of the Vessel whatsoever.

5. Bidding Deposit Account:

(1) USD Account：

● Beneficiary: SHIPBID (SINGAPORE) SHIPPING EXCHANGE PTE. LTD.

● Beneficiary Address: 3 TEMASEK AVENUE #27-02 CENTENNIAL TOWER SINGAPORE 039190

● Account No.: 072-124228-1

● SWIFT Code: DBSSSGSG

● Beneficiary Bank: DBS Bank Ltd, Singapore

(2) RMB Account：

● Beneficiary: 浙江拍船网航运交易股份有限公司

● Account No.: 3309040160000036844

● Beneficiary Bank: 杭州银行舟山分行

6. Contacts: