Bidding Notice for Sale of Vessel (M.V. HANJIN CAPE LAMBERT)
Bidding Notice for Sale of Vessel
Hana Bank as ship mortgagee against the bidding vessel below (the “Bidding Vessel”) intends to cause the Bidding Vessel to be sold by competitive bidding process (this “Bidding” or “Sale”) through Inter Ocean MS Ltd. as sell-side advisor (the “Advisor”).
1. Description of Bidding Vessel: one (1) Bulk Carrier
1) Name of Vessel: M.V. HANJIN CAPE LAMBERT
2) Deadweight Tonnage: 179,147
3) Builder: Hyundai Heavy Industries
4) Built: 2009
5) Class: KR
6) Flag: Panama
2. Preparation to be done for joining this Bidding
1) Eligibility for participation in this Bidding: Korean or foreign company other than the company that was or is the party to the existing loan agreement or the relevant security agreement(s) relating to the Bidding Vessel including the guarantor in relation to such loan agreement
2) Notice Period and Inspection
(i) Notice Period: this notice (i) to be announced on October 5, 2016 in Korean daily newspapers designated by the Advisor and (ii) to be posted from October 5, 2016 to October 21, 2016 on the Advisor’s homepage [ www.interoceanms.com]
(ii) Hull & Machinery Inspection
a. Application for inspection must be received in writing only prior to the previous day of the Inspection Date to be individually notified b. Inspection Period: to be individually notified to the applicant c. Inspection Place: to be individually notified to the applicant
3. Process of this Bidding
1) Submission of Bidding Application
(i) Deadline for the bidding application hereunder to be October 21, 2016 at 15:00 (Seoul Time) (ii) Each bidding application hereunder to be (i) personally delivered, (ii) transmitted by postage prepaid registered mail, (iii) transmitted by email, or (iv) transmitted by internationally recognized courier service to the Advisor by October 21, 2016 at 15:00 (Seoul Time) (iii) Recipient: To the Advisor on behalf of Hana Bank [address] #2601, 26th Floor, 363, Samil-daero, (Janggyo Bldg., Janggyo-dong), Jung-gu, Seoul, Republic of Korea (Korea ZIP : 04541) Inter Ocean MS Ltd. [e-mail address] firstname.lastname@example.org
2) Necessary Documents to be attached to Bidding Application
(i) Application form: a series of the bidding applications to be posted on the Advisor’s homepage [www.interoceanms.com] (ii) Evidences of identifying the representative (director) of each bidder: a copy of business license of each relevant bidder, an original commercial corporate registration of each relevant bidder (certificate of goodstanding of corporation), an original certificate of corporate seal impression of each relevant bidder, a copy of passport of representative (director) (iii) Evidences of identifying the agent (or attorney) of each bidder: an original power of attorney with an original certificate of corporate seal impression of the relevant bidder, which shall be notarized in case of non-Korean bidder
3) Selection of Preferred Bidder
(i) Method of selection: considering the bidding amount, the ability to perform the duties of buyer, and other conditions, a preferred bidder and/or preliminary negotiating parties to be selected in Hana Bank’s discretion (ii) Selection Notice: selection notice to be transmitted by email to the preferred bidder and/or preliminary negotiating parties individually until October 24, 2016 at 15:00 (Seoul Time) (iii) Security Deposit: for securing the performance of the duty of the relevant preferred bidder, ① a cashier’s check having a par value of no less than 10% of the bidding amount issued by a commercial Bank in Korea to be provided to Hana Bank or ② T.T. Remittance in the amount of no less than 10% of the bidding amount to be made to Hana Bank’s designated bank account (collectively “Security Deposit”) (in case of the bidding amount in USD by non-Korean preferred bidder, such bidder shall inquire the way of providing the relevant security deposit of the Advisor)
4) Execution Date and Contract Method
Execution date: sale and purchase agreement or memorandum of agreement in relation to the Bidding Vessel (“MOA”) to be executed by November 4, 2016 at 15:00 (Seoul Time) (ii) Qualified Buyer: only the preferred bidder who has provided the above Security Deposit to Hana Bank to be the buyer under the MOA (iii) MOA: the relevant form and substance of the MOA to be provided by Hana Bank (iv) The Security Deposit to be provided to Corporate Improvement Department of Hana Bank
Upon execution of MOA, the Security Deposit paid by the relevant preferred bidder shall be converted to the down-payment amount for the MOA, and If the sale under the MOA has failed for whatever reason or reasons from the preferred bidder, the preferred biddership will be deemed to be void and the Security Deposit paid by such preferred bidder shall be vested in Hana Bank in which such preferred bidder shall have no right to claim return of such Security Deposit.
The relevant preferred bidder, which becomes the purchaser of the Bidding Vessel under the MOA, shall remit the outstanding balance for the purchase price by no later than November 11, 2016 at 15:00 (Seoul Time) to the bank account designated by Hana Bank. In the event of failure to make payment for the outstanding balance or perform other agreements or covenants thereof, the MOA shall be terminated at the discretion of Hana Bank and the down-payment (including the Security Deposit) shall be vested in Hana Bank.
Where there exist reasons that handover or delivery of the Bidding Vessel would not be performed or delayed, unless otherwise agreed between Hana Bank and the relevant preferred bidder, Hana Bank may withdraw the bidding. In such event, the MOA will be cancelled and the down-payment will be returned to such preferred bidder in which such preferred bidder shall have no right to claim or request compensation arising therefrom.
It shall be deemed that the bidding applicants fully understood all necessary information related to this bidding including the information provided in this Notice and the procedure thereof, and it shall also be deemed that the bidding applicants are well informed of the sufficient information regarding the Bidding Vessel through certain procedures such as a vessel inspection which the bidding applicants shall bear the relevant costs and expenses thereof.
Upon completion of the bidding, the successful bidder (i.e. the purchaser) shall bear any and all responsibilities (including costs and expenses) arising from the necessary procedures required for and prior to the takeover of the Bidding Vessel such as transfer of the ownership.
The successful bidder shall take over the Bidding Vessel as is at the time of delivery and shall have no right to claim against Hana Bank or the Advisor in relation to the condition of the Bidding Vessel.
Please confirm the schedule of this Sale of the Bidding Vessel as this Sale may be changed, discontinued or cancelled by reason of Hana Bank or other interested parties at any time prior to the scheduled date for this Sale.
6. Delivery of the Bidding Vessel
It is expected that the Bidding Vessel will be handed over and delivered at the harbour where the Bidding Vessel is currently anchored within eight(8) days at receipt of full payment of the outstanding balance for the purchase price and completion of the necessary procedures required for and prior to the delivery of the Bidding Vessel such as cancellation of ownership.
7. Contact for Inquiries
Sell-side Advisor: Inter Ocean MS Ltd. Representative Director Capt. Jong-Min Lee Tel: +82-2-753-1057 Fax.+82-2-753-1058 Email: email@example.com