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BRIGHTOIL GEM Haikou Maritime Court Notice

BRIGHTOIL GEM Haikou Maritime Court Notice

Published: 13 September 2019

Haikou Maritime Court (the “Court”)


The dispute in respect of vessel mortgage and loan agreement between BNP Paribas as plaintiff and Brightoil Gem Tanker Ltd. (the “Defendant”) as defendant was accepted by the Court on 28 January 2019. The Court has legally taken maritime preservation to arrest the mortgaged vessel, M.T. “BRIGHTOIL GEM”, owned by the Defendant (the “Vessel”) at Yangpu Port, Hainan Province. As the Defendant has failed to provide any security or guarantee and the arrest period has expired, and considering that it is no longer appropriate for the Vessel to continue to be under arrest, the Court made a civil ruling numbered (2019) Qiong 72 Minchu No.22 on 6 August 2019, ruling that the Vessel shall be placed into public auction. Therefore, online judicial auction will be held by the Court via Taobao Judicial Auction Online Platform (http://sf.taobao.com/0898/05, account holder: Haikou Maritime Court) from 10:00 am, 19 November, 2019 to 10:00 am, 20 November, 2019 (except for Bid Extension, defined below). For detailed information of the Vessel, please see the attachment to this Notice. All interested bidders are welcome to participate in the auction within the prescribed period as abovementioned via Taobao Judicial Auction Online Platform. Creditors shall register their claims relating to the Vessel to the Court within the 60 days commencing from the date of this Notice. Those who fail to register within this public notice period will be deemed to have renounced their rights to receive payments from the auction proceeds.


It is hereby notified.

Haikou Maritime Court

                                                                                                                                                                                                                                                            2 September 2019

1. Subject vessel of the auction: M.T. “BRIGHTOIL GEM”;

  Flag: Hong Kong;

  Type of Ship: Double Hull Oil Tanker

  IMO No.: 9602655

  Classification: Lloyd’s Register

  Material of Hull: Steel

  Navigation Areas: Unlimited

  Length Overall: 333.14 m

  Breadth: 60 m

  Death Moulded: 30.4 m

  Gross Tonnage: 161296

  Net Tonnage: 110773

  Deadweight: 299999

  Draught Max: 22.625 m

  Engine: HYUNDAI MAN-B&W 6S90ME-C8.2

  The Total Engine Power: 30423KW

  Date of Build: 18 March 2013

  Builder: Hyundai Heavy Industries Co., Ltd.

  Registered Owner: Brightoil Gem Tanker Ltd.

  Current location: At Anchor, Quarantine Anchorage no.1 of Yangpu Port, Hainan Province

2. The basis of this auction: A civil ruling numbered (2019) Qiong 72 Minchu No.22.

3. Time and method of auction: From 10:00 am, 19 November, 2019 to 10:00 am, 20 November, 2019. For this auction, a reserve price is set. If the reserve price fails to be matched or exceeded, the auction will cease and the Vessel will be deemed unsold. Bid extension is allowed for this auction. The auction period will be extended for another 5-minute period automatically (“Bid Extension”) each time a bid is received within the last 5 minutes before the auction period ends. This extension mechanism will continue until no competing bid is received within the subsequent Bid Extension period.

4. Bidder’s requirements: The bidder shall bear full responsibility for civil conduct. Where the laws, administrative regulations and judicial interpretations set out special requirements on the qualifications or conditions of the purchaser, such qualifications or conditions shall prevail with which the concerned bidder shall comply. Interested bidders shall firstly get registered on the judicial auction online platform and complete the real-name authentication process (those bidders who already hold a registered account should also complete the real-name authentication process). Bidders entrusting others to bid on their behalf shall confirm with the Court prior to the auction, and inform the online auction service provider. For foreign bidders, Hongkong, Macao or Taiwan bidders entrusting others to bid on their behalf, their certification of identification and entrusting procedures shall comply with the foreign-related procedural regulations set out in the PRC Civil Procedure Law. The bidders shall be responsible for their bids if they are disqualified from participating in the auction.

5. Auction rules: The auction is denominated in Renminbi. Starting bid: RMB390,000,000, deposit: RMB30,000,000, bid increment is RMB100,000.

6. Payment and currency: The payment and the deposit of the auction shall be made in Renminbi. In order to facilitate foreign, Hongkong, Macao and Taiwan bidders to participate in the auction, such bidders are allowed to make payment and deposit in US dollars. If they decide to effect a US dollar payment, they shall convert the relevant amount into US dollars at the prevailing exchange rate of RMB against USD on the date of payment, and make such payment into the Court’s US dollars account. The gain or loss of the settlement shall be borne by the bidders.

The details of Court’s designated USD bank account are as follows:


Acct No: 1010854200000118



Bank address: No.37 Binhai Road, Haikou Hainan P.R. CHINA

7. Time limits on payment time and method of payment: Upon being named as the winner of the auction, the successful purchaser shall transfer no less than 20% of the purchase price of the Vessel to the designated account of the Court (the deposit paid for the Vessel auction can be used to set off part of such payment) on the same day of being named as winner of the bidding. Within 7 days after the successful auction, the successful purchaser shall pay the balance amount.

8. Confirmation and delivery of Vessel: Upon the completed payment made by the successful purchaser, it/he/she shall submit its/his/her ID to the Court for the Court’s confirmation and to execute the auction confirmation. After the Court’s confirmation, the Court will arrange and supervise the delivery of Vessel, and will execute a confirmation with purchaser after completing the Vessel delivery.

9. Enquiry and inspection: From the date of this Notice, enquiries are welcomed and on-site inspection can be arranged. Interested bidders are kindly advised to contact the Court first and proceed to the location of the Vessel as arranged for inspection.

10. The condition of the subject Vessel: The condition of the subject Vessel is on “as is” basis. The Court makes no guarantee on any defects of the subject Vessel. Reminder: (1) Bunker, whether MGO or MDO, in the Vessel is not included this auction, and Bunker quantity is subject to actual storage at the time of handover as there might be bunker consumption during the auction period, and bunker will be calculated separately as per the market price; (2) Interested bidders are welcome to inspect on-site; (3) The Vessel’s certificates are not preserved by the Court, which can be available for inspection in the course of on-board inspection of the Vessel. As to other information related to the Vessel’s registration, bidders can make enquiries to the Registrar of Ships according to relevant laws and regulations of Hong Kong Special Administrative Region; (4) Bidders whom have not completed on-site examination shall be deemed as having accepted the actual conditions of the subject vessel, whether known or unknown to the bidders.

11. With respect to the issues relating to the procedures of the Vessel’s registration and change of flag and processing time, bidders are reminded to provide the relevant authorities the necessary details by themselves before participation. The purchaser is responsible for processing the necessary ownership transfer and registration. The purchaser is also responsible for any failure or delay in processing the relevant procedures, including due to actual conditions or defects of the subject vessel.

12. In order to complete the ownership transfer and registration procedure with the relevant vessel registration authority, the purchaser will be provided with the court enforcement civil ruling issued by this Court. All the related tax, expenses and fees which accrue or may accrue will be for the account of the purchaser.

13. All parties involved or related to the subject Vessel (including the parties of case, the pledgees (the security holders), the persons with preemption right) are eligible to participate in the auction. Those who did not participate are welcome to follow and observe the auction process.

14. Creditors shall register their claims relating to the Vessel to this Court within the 60 days commencing from the last day of this Notice being published in newspapers. Those who fail to register within the public notice period will be deemed to have renounced their rights to receive payments from the auction proceeds.

15. Relevant contact details of this auction (if foreign bidders would like to contact with the Court, please follow the international dialing guideline at your location when making phone calls to mainland China at the following numbers)

For credit registration, please contact LIU Lin at 0898-3129788116639633550.

For supervision, please contract LIN Tiancai at 0898-66253909.

For case details, Vessel conditions and inspection, please contact LIU Lin at 0898-3129788116639633550.

For enquiries on the auction procedure, please first contact Taobao technical service hotline at 400 822 2870. If Taobao’s customer service is unable to respond to queries which are better addressed by the Court to deal with, please contact GAO Jingwei of external entrustment and management department at 0898-6626431515203037252.

Address of Haikou Maritime Court: No.74, Renmin Avenue, Meilan District, Haikou, Hainan Province

Address of Yangpu Detached Court of Haikou Maritime Court: No.8, Shadi Road, Yangpu Economic Development Zone, Hainan Province.

Website: www.hkhsfy.gov.cn

For further assistance and guidance in relation to the auction procedures, please contact BNP Paribas – William Poole (William.poole@asia.bnpparibas.com / +852 2909 8752) or Terrence Tan (terrence.tan@asia.bnpparibas.com / +65 6210 1935).