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Published: 25 May 2021

2021/391 ESAS

The ship, which has the following characteristics and is registered under Turkish Ship Registry with SCRAP attribute and subject to proceeding with Judgement by the Way of Foreclosure of Mortgage, shall be sold by auction free of all real and personal rights, encumbrances, and limitation per the Bankruptcy and Enforcement Law, and Turkish Commercial Law.
Type, quality, value, number, and important characteristics of the immovable for sale:

Per the expert opinion of 09/02/2021 that is the basis of 2020/471 Esas-2021/63 no and 22/02/20211 date decision of Istanbul Anatolia 9th Enforcement Court;
 M/V BORAS dry cargo ship with 8202953 IMO no and flag subject to sale was subjected to a current status assessment by an inspection at all premises with a flashlight as the ship had no current energy, no working devices or equipment on the bridge, accommodations, engine room or deck in its current status or any attendants on the ship located at the Kartal Motorcular Kooperatifi, Kumcular dock.
General and technical characteristics information of M/V BORAS ship is given below.  

Name of the Ship






Call Sign


Ship Build Year and Place


Port of Registry


Imo Number


Registered Class Society


Mmsı No


CLASS Notation

(+)1 A5,(+M)

Gross Tonnage:


Net Tonnage:


Summer Deadweight (Metric Tons):

6,071 MT

LDT: (Empty weight)

1,893 MT

Length overall (m):

103.25 m

Length between perpendiculars (m):

94.20 m

Width (m):

15.40 m

Depth (m):

8.50 m

Registered speed (LOADED)

9.0 Knot

Main engine number & power

1 ENGINE 2,238 kW (3,000 HP)

Main Engine Model:

MWM – TBD 510L-06U

Auxiliary Engines:

3 x M.A.N. TYPE: D2530MTE OUTPUT: 2 x 195 kW MAIN & 1 x 115 kW HARBOUR REVOLUTION: 1500 RPM

Propeller number and type

1, right hand, stationary, MANUFACTURER: LIPS B.V. 4 BLADE DIAMETER: 3400 mm

Hold Capacity (# 1 and #2 Total)

Grain: 8,179.7 m3 / 288,863 ft3 Bale: 7,753 m3 / 273,784 ft3

Hatch Cover Dimensions (Length x Width)

(25.74 x 11.0 m) x 2

Ship Crane Capacities:

#1 SWL: 8 Tons, #2 SWL: 10 Tons, #3 SWL: 10 Tons, #4 SWL: 8 Tons

Last Drydock Survey Date and Place:

12/2013 – TUZLA

Last Special Survey Date:


Last Inspection Date and Place:

14/03/2016- Paris MOU Varna/BULGARIA


M/V BORAS is a dry cargo (General Cargo) ship that has steel construction, single hull, fore and aft cabin, accommodation, and engine room at the aft, and has 1 main engine + 3 auxiliary engines (generator), 2 loading holds, 4 crane equipments named “American Equipment”. The total capacity of the ship holds is (bulk) 8,179.7 m3, and (bale) 7,753 m3. Hatch covers of the ship are opened and closed by winches via wire pulling. From the visitation of the ship, it was seen that no personnel was present; and due to that, no personnel was accompanied in the assessment. It was seen that the ship was aground at the Kartal Kumcular İskelesi position without any load in its hold, in an empty state. This situation of the ship proves a hazard for nearby ships in the strong weather and environment. There were no paint, provision, etc. consumables found on the ship. As the result of the examination, it was seen that the ship was completely abandoned. There were no Ship Journal to be found on the bridge and also there were no documents or papers (Engine Journal, Ship Certificates File, GMDSS Radio journal, etc.) with official record attributes found in the ship (deckhouse, deck office, master cabin, engine control room, etc.). Per the ship Equasis records; it was understood that the ship was supposed to be subjected to 5 years Class Review/Insurance Renewal in December 2018, and it was dropped from class (the ship was out of the insurance coverage) as it was not reviewed. (Equasis is a ship information system and database where it is possible to share information. It is possible to acquire many data for the ship and to retroactively see the full registry of the ship.) The shipping certificate registrations were also acquired from Equasis registries and the certificate file which was supposed to be on the ship could not be reviewed as the ship was abandoned.  Per the relevant Equasis records, it was seen that all certificates were expired. It was seen that the hatch covers of the ship were partially left open. It was observed that the inner-hold conditions were under a high corrosion state. When the ship crane equipment was reviewed it was seen that all wires and rollers were not oiled for a long time and have rough rust, and the #3 crane beam was damaged due to fall (See. Photos). Per the Ship Info Form hanged on the deckhouse, it was seen that there are 8 lock (1 lock chain = 27.5 meters) chains at the starboard and port each, yet per the declaration of the shipowner and its attorney during the survey; the ship was anchored by double anchor yet as its anchors were stolen while it was docked in stern-to position by the means of cutting the anchors of the ship from their chains, the ship was grounded by ripping the ropes that connected it to the dock and drifting to the shore as it was subjected to waves, flows, and wind. It was seen that the Lifebuoys, Life rafts, and Life jackets that were mandatory per the Ship Equipment Security Certificate were either missing or in bad shape. It was seen that 2 Life Boats with capacity of 25 persons each were in safety in the starboard and dockside in their davits. It was seen that the Life Boat in the starboard was in good condition, yet the one on the dockside was in a bad shape. There is winch equipment in the aft and fore (one each) with 2 lantern systems in the aft, the winch at the aft was also used for lowering and heaving of the ship anchors yet it was not possible to control that the aft and fore winches were working or not as there was no power supply in the ship at the time of the survey. It was seen that all maneuver ropes at the fore and aft of the ship were in bad conditions. The ship has six (6) floors, including accommodations, 2 decks (lifeboat deck and master/officer floor) with aft cabin, shared premises, and personnel/officer cabins after the main deck, deckhouse deck, and flybridge. Internal premises such as all personnel cabins, cookhouse, rest/mess hall, shared bathrooms, infirmary were again in a neglected condition, personal security equipment (fire, ship exit, etc.) were either missing or in bad condition. It was seen that corridors were equipped with IMO markers to show the places of fire and lifesaving equipment; also the escape routes were marked. It was seen that the corridors in the accommodation were marked with IMO markers to show crucial equipment such as fire, life-saving equipment yet the majority of the relevant equipment was not found during the survey. UP-TO-DATE SHIP DECK JOURNAL OR GMDSS JOURNAL WERE NOT FOUND IN THE DECKHOUSE!!! In the control conducted at the deckhouse of the ship: It was seen that all electrical or electronic cruise and radio communication equipment or their terminals were dismantled and the electrical systems and electric support units were in scrap condition. (See Photos) As the electrical supply is not in working condition in the ship, it was not possible to check whether or not the General Alarm, Fire Alarm, other alarms systems, and ship whistle are in working condition. Equasis records of the ship were downloaded from the system and added to this report.


  • The plates of the ship which were left in the most aggressive corrosion conditions for 2 years without maintenance are in bad condition.
  • Fore castle deck plate and pain condition is bad and might require local plate replacement. Corrosion is in a serious state.
  • The chain bin is operable, yet it was not tested. Ropes are missing. Chains are in good condition. They are possibly newly replaced, but the anchor is missing.
  • As there is no direct seawater contact, the chains have no corrosion.
  • Maintenance for the pier is required.
  • Deckhead equipment needs to be maintained.
  • Deckhead spares are not available.
  • Hold trunk plates have too much corrosion and plates should be changed. Paint is also required. The painting will be required for hold broadsides and bases. There is severe deformation in the hold bases due to missing painting and being left for a long time in the sea.
  • The painting will be required for trunks.
  • There is corrosion in the deck ventilation. Maintenance is required.
  • The plate and paint conditions of the accommodation are in bad condition.
  • Lifeboats and lifesaving vessels are onboard, but they are not in good condition. They should be tested.
  • Poop ropes are insufficient.They are taken probably and spares are nowhere to be found.


As a result of inspection at engine room, the marine boiler and its equipment were detected at the entrance of the engine room casing and it was seen that boiler and systems were present along with exhaust exits. Electrical panels are in their place.

There is a 1x 2,238 KW (3000 hp) main engine with MWM-TBD 510L- 06U model, and 3x M.A.N. type, D2530MTE 1500 RPM auxiliary machines present.

There are 1x blade and 3x auxiliary diesel generators.


There is an engine room ceiling chain block present. Main engine cylinder heads are disassembled. There are air tubes, air compressors, oil fuel separators, and oil pumps available. Seawater, freshwater, and ballast pumps are in their places. The engine room is extremely dirty, rusty, and has corrosion in multiple sections. Engine telegraph is available. Main engine housing covers are open. Bilge pump and water pumps and system are in place. The main machine turbocharger is displaced as a block. Tachometer, pressure, and heat meters in the auxiliary diesels are available. Steering gear, steering motors, and oil pumps are in their places. Main engine, diesel generators and other pumps need heavy maintenance in their current conditions. Fuel tanks, oil tanks, fresh water tanks, sludge tanks are all in their places. All valve groups are rusted and corroded. All of the base plates are corroded. Seawater and freshwater systems are mostly corroded. As it was not possible to reach ship ISM documents and ship engine journal, status/hours worked of the main engine and generators and their maintenance status could not be determined.


Multiple elements determine the price of a ship. To list some of these;

  1. Comparing by latest ship sale information and market price (Latest Sale Data – benchmarking, market price)
  2. Replacement Value and newbuild prices (Replacement Value – prices of newbuilding)
  3. Scrap value and scrap prices of the ships (Scrap Value – scrap price of ship)
  4. Freight Market and potential earning of the ship (Freight Market – earnings potential of the ship)
  5. Ship characteristics, equipment type, building place and time, engine type, material used, etc. (Ship’s Particulars – type of equipment fitted, where & when built, engine type, materials used & etc)
  6. The validity date of class survey, dry-docking, and special survey (Class Status – when is DD/SS due)
  7. Market condition and its effect on the prices (Sentiment – affects price trends)

Among these, many side issues affect the price of a ship. Considering the current condition of the ship and the fact that it was left without maintenance for too long and the freight problems of the ships of the same type, and as the cost required to have it commission ready does not seem very effective, as a result of the exploration survey, it is seen more appropriate to determine its value as scrap, per the article 3 among the articles listed above by the survey of the ship on 12/01/2021, and the survey with the on-place inspection duty on 14/01/2021. It was also learned from Aliağa Ship Recyclers Association that the “LDT (Empty weight)” price of a scrap ship is about 375 USD/TONS depending on the status and condition of the ship.


In the scope of the duty given to us, as a result of inspection and evaluation in the M/V BORAS dry cargo ship by taking the information and documents acquired from the ship and equasis records into consideration and conducted investigations and researches, characteristics of the ship, quality and conditions of plate and equipment, operation costs of the equivalent vessels, freight costs and equivalent ship market worldwide considered; by also taking the precedents in the marine market it was understood that the ship subject to sale cannot be repaired and can only be used as scrap. Lightship (tare weight, “empty weight”) of the subject to sale M/V BORAS ship was determined to be 1.893 mt from the general information.

Address of the Ship   : Yunus Kartal Motorcular Kooperatifi, Kumcular İskelesi (İstanbul Marine Karşısı) Kartal / İSTANBUL

Value                                          : 5,359,556.00 TRY (Scrap Value - Per the decision of Istanbul Anatolia 9th Enforcement Court on 22/02/2021 with 2020/471 Esas-2021/63 decision number)       

VAT RATIO                            : Exempt per Article 17, 4-g Cause of VAT Law (as it was determined that this ship has scrap quality by an expert report, the delivery of the ship shall be exempt from VAT per Article 17/4-g of VAT law and in the case that it is purchased by the purchaser for the purpose of scrap dismantling VAT shall not be received. But, in the case that is purchased for a purpose other than scrap quality; for use, or operation, etc., the 18% VAT shall be paid by the buyer, as it will be no longer under the scope of VAT exemption.)

Registration Annotations : Same as the ship registry and its file.

1. Sales Date      : Between 11:30- 11:40 on 14/07/2021

2. Sales Date      : Between 11:30- 11:40 on 12/08/2021

Sales Place         : Mezat Salonu 1- İstanbul Anadolu Adalet Sarayı B Blok -4. Çınarlı Sok.No:1 Dragos Kartal- İstanbul

Guarantee           : CASH GUARANTEE shall not be accepted at the Sales Premises

Sales Conditions:

1- Tender shall be made as auction. Offers can be made in the electronic environment over esatis.uyap.gov.tr address between twenty days before the first auction to the end of the day before the auction date. In this auction, it shall be awarded to the highest bidder provided that it exceeds 50% of the predicted value, the sum of receivables of the prioritized claimants and sales expenses. If there are no bidders in the first auction, it is possible to bid online after the fifth day after the first auction to the end of the day before the second auction date. Similarly, also in this auction, it shall be awarded to the highest bidder provided that it exceeds, 50% of the predicted value, the sum of receivables of the prioritized claimants and sales expenses. If there are no buyers in this value, the price request shall be reduced.

2. Those who shall attend the auction are required to deposit 20% of the predicted value per Kayseri Regional Justice Court 5th Civil Department, decision number 2020/1057 Esas, 2020/1064 Karar (Approval: High Court 12th Civil Department decision no 2021/1635 Esas, 2021/3021 Karar), also per the 9th Article of Bankruptcy and Enforcement Law which consist the basis of the letters of Ministry of Justice Directorate General of Personnel on 31/07/2014 with 26213 no, and because of the intensity of the infection risk of covid-19 virus they are required to deposit the said amount to our account of Anatolia Immovable Property Sales Execution Office in the T. Vakıflar Bankası Anatolian Justice Palace branch with TR 54 0001 5001 5800 7312 4188 54 IBAN by writing T.R. ID and document number or give a unconditional, definite and unlimited guarantee letter of a national bank in this amount or for those with Vakıfbank Bankomat Card, deposit from the POS device in our office, those who shall attend in electronic environment are required to post a guarantee. CASH GUARANTEE SHALL NOT BE ACCEPTEED at the Sales Premises. Due to the daily fluctuations in the forex and per the 1st article of Law no 805; foreign currency shall not be accepted as a guarantee. If a payee with a claim on this immovable, sale requester shareholder, or relevant persons joins the auction and its receivables are within the abovementioned amounts no other deposit or guarantee is required.

3- Sale is in cash, if a buyer demands, additional time no more than (10) days may be provided. Stamp tax, VAT (if any), and fees, taxes, evacuation, and delivery expenses related to the ship registry belong to the buyer. Brokerage Fee, taxes arise from the immovable itself shall be paid from the sales value. (Claimants with pledged receivables has privilege over the sales amount. Duty and taxes that are received from properties and real estates specific to State offer such as duty tax and real estate tax, comes after pledged receivables.

4- Pledged claimants and other relevant persons (*) are needed to report their rights on the real estate, especially those regarding interest and expenses, with basic documents within (15) days to our office; otherwise their rights shall be exempted from share unless proven by title deeds registry.

5- If the sales value is not paid immediately or in the provided period, the tender is terminated per Article 133 of Enforcement and Bankruptcy Law. All buyers who cause the termination of the tender by not depositing the tender value after joining the tender and their guarantor shall be severally responsible for the difference between their offer price and the last tender value and other damages and also default interest. Tender difference and default interest shall be claimed by our office without the need for any other decree, and this difference shall be first taken from the security deposit if any.

6- Specification shall be open to everyone after the declaration date, also a copy of it could be sent to requesting buyer provided its costs are paid.

7- Those who join the sale shall be considered to read the specification and accept its consent, those who like to receive additional information may apply to our directorate with 2021/391 Esas document number. 18/05/2021


Recep UÇAR

Assistant General Manager