29 July, 2016

Court Auction in Korea

Court Auction in Korea

Court Auction  : 7,956 DWT '91 BLT TWEEN DECKER for sale.

Located in Jin Hae, Korea, where inspectable.

Minimum auction price 1,043,382,000 Korean Won (equivalent
  Auction sale in Busan, Korea : 1000hrs 25th Aug 2016

MV Morning Sky
Tweendeck General Cargo Ship.
KR Class
1991 blt in Japan
GT on ITC 6,323
7,956 DWT
L X B X D : 107.28 X 18.0 X 12.00
Bale / Grain : 13,991 / 14,987 cbm
Derricks : 12 T x 2 + 15 T x 2 (SWL)
M/E Akasaka 2,991 KW


Bidding Procedures

    (1) 10 % Depoist Money of Minimum Auction Price to be prepared  in
a Cashier's check
    (2) If the tender is successful auction winning Notice will be
issued from the court.
    (3) If the tender is successful it will take 1 weeks for final
decision by Judge
          ,during this period the court investigated if the auction
were illegal but this procedure
          is considered to be formal.
    (4) If the fianl decision obtained The Buyers shall pay the
Balance within 3 weeks
    (5) If not awarded 10% security money in check will be returned to
Buyer immeidately on spot.
Necessary Documents
    POA ( to be legalized & to be tramslated into Korean / to be
notarized)  &  Passport

Other terms

    (1) On  ‘AS IS/ WHERE IS' basis
    (2)  Currecncy : Korean Won
    (3)  Commission of bidding price to be paid by Buyers.