The Maldives Industrial Fisheries Company (MIFCO) has decided to auction two vessels previously used for fish collection.
According to an announcement published by the company yesterday, the opportunity to participate in a sealed-bid auction for two fish collection vessels previously used in the company's operations, "Randi 22" and "Randi 27", has been opened. Furthermore, participation in the auction is open to parties who register for the sealed-bid auction after paying a designated deposit, and it is stated that 10% of the starting price of the auction must be paid as a deposit. Parties wishing to register for the auction must email bid@mifco.mv.
Information regarding the vessels being auctioned:
Auction Number
Vessel Name
Vessel Type
Location
Auction Starting Price
Collector Vessel (Fiberglass)
Lh. Felivaru
600,000.00
25,000.00
According to MIFCO, parties participating in the auction must submit their bids to a box specially placed at MIFCO for this purpose, and a separate letter must be submitted for each auction.
The highest bid submitted in the auction will be published on MIFCO's website (https://mifco.mv/auctions) at 10:00 am on every non-public holiday. If the highest bid remains unchanged for 3 consecutive non-public holidays, the highest bid submitted up to that point will be determined as the highest bid for the property, and the auction will be concluded in favor of the party that submitted the bid, according to MIFCO.
MIFCO further stated that the winning bidder must pay the money, initiate the process of transferring the vessel's registration, and take over the vessel within 14 (fourteen) days of being notified of winning the auction. It is also stated that if the vessel is not taken over within this period without a reasonable excuse, MIFCO has the discretion to re-auction the vessel. All expenses related to transferring the vessel's registration and taking over the vessel must be borne by the winning bidder.
"Randi 22", which is being auctioned, is a vessel with a fish storage capacity of 36 metric tonnes that was used in MIFCO's operations from May 31, 2010, to August 30, 2021. And "Randi 27" is a vessel with a fish storage capacity of 50 metric tonnes that was used in MIFCO's operations from October 1, 2018, to January 5, 2024. Both of these vessels are currently located at MIFCO's Felivaru Fisheries Complex. MIFCO stated that arrangements will be made for parties wishing to view these vessels to do so upon traveling to Felivaru.
MIFCO stated that parties wishing to participate in the auction can obtain further information by calling 7772920.
