The type, nature, location, value and important characteristics of the vessel to be sold are as follows:
The vessel is named DON CANDIDO, IMO number 7901734, call sign 9LU2015. Ship details:
The ship being sold shall be fully owned by the debtor.
• Technical specifications of the ship “M/F DON CANDIDO”:
– Ship name: Don Candido
– IMO number: 7901734
– MSI: 341017000
– Flag: Equatorial Guinea
– Call sign: 9LU2015
– Ship type: RO-RO passenger ship
– Year of construction: 1980
– Total length: 99.52 m
– Width: 17.63 m
– Depth: 10.50 m
– Total tonnage: 5,287 tons
– Dead weight: 1,188 tons
– Main engine: two Deutz units / RBV 12 M 350 MODEL / 4,400 hp / 430 rpm
– Registered owner: VITEOCA GESL
– Ship Manager: SAVMAR SOLUTIONS INC
– Category: BUREAU VERITAS (IACS)
• Factors affecting the value of the ship:
– The above-mentioned characteristics of the ship.
– Quality and condition of steel structure and equipment.
– The global economic crisis and its effects on the maritime industry.
– Operating costs and shipping rates for similar ships.
– Market conditions for equivalent vessels in the international market.
–
It has been observed that at the bow of the ship the port anchor hangs from the horn tube, while the starboard anchor also hangs from the horn tube. The hull above the waterline at the bow, sides and stern, as well as the stern ramp used for loading and unloading wheeled vehicles and the ramp cover, are in average condition with moderate paint and maintenance. Below the waterline, the underwater structure is covered in heavy layers of algae and barnacles. The electrical panels and equipment on the bridge are in average condition. Electrical cable trays were dismantled, leaving cables exposed and scattered disorganized. Navigation and bridge equipment are in their designated locations; However, the radio room, chart room and bridge area are poorly maintained and untidy, with navigation console covers open and documents and charts scattered on the floor. The condition of the steel for the surface coating is moderate. A ship’s magnetic compass requires maintenance and calibration. The ship’s lifeboats are present, but the No. 6 lifeboat winch is broken. Inflatable rescue boat with outboard motor (Zodiac type) deflated. On the bridge deck there are 6 life rafts on the port side and 7 life rafts on the starboard side, and their expiration dates have expired. There are four deck cranes installed on the deck, and the winch wires are not well maintained. The steel condition of the bridge deck is fair, requiring painting and maintenance. All decks require maintenance, painting and replacement. The surface is dusty and maintained at a moderate level. There are about 20 barrels of lubricating oil (CASTROL) on deck, some of the barrels have been opened. On the roof of the vehicle, the side hatch leading to the engine room, through which engine spare parts are lowered, is fully open, while the right hatch is half open. For occupational safety reasons, the area was cordoned off with barrels and safety tapes to prevent the risk of falling. The bow thrust room and emergency fire pump room have been inspected and require painting and maintenance. During the inspection of the steering gear room, steering gear equipment, emergency steering system and auxiliary equipment were noted, and no temporary repairs were discovered in the system circuits. However, painting and maintenance are needed, and the oil tank tray and steering gear chamber floor are oily and slippery. The engine room was searched. However, since no onboard generator was running on the day of the inspection, the inspection was performed using flashlight illumination. Upon entering the engine room it was noted that it was poorly maintained and partially painted. Based on the general condition of the machinery, it appears that the vessel has not been operated for a long period of time. The cooling water circuits for the main engines and generators have been largely refurbished, but the paint has not been completed. As routine maintenance of the machinery had not been carried out for a long time, it was not possible to form an opinion on the seaworthiness of the ship. There is a certain amount of bilge water at the bottom of the engine room. Paint condition of the port stabilizers and right fin is fair, requiring painting and maintenance. On the forecastle deck, the port and starboard cranes are in fair condition and require painting and maintenance. Surface coating also requires painting and maintenance. Polyethylene mooring ropes show breakage and fiber deterioration and require reconditioning. One spare anchor is fixed to the deck using clamps. On the aft deck, the port and starboard winches are in fair condition and require painting and maintenance. The surface coating requires painting, and the mooring ropes are showing fiber deterioration and need to be replaced. Passenger lounges have been inspected. Passenger seats and seating groups are covered with plastic covers, while some tables remain uncovered and covered in a thick layer of dust. Upholstery (curtains, upholstery, other accessories and fixtures) is in average condition, and some passenger seats have been refurbished. Upon inspection of the accommodation areas, it was noted that the officers’ and crew’s living quarters, cabins, toilets, bathrooms and galley were maintained to a moderate standard. Furniture and furnishings (curtains, upholstery, accessories and other fittings) are also in average condition. Interior and exterior inspections of accommodations indicate that these areas are adequate for operational needs, and that “MO SIGN” signs are present.
Details are available in the expert report.
Address: Tersanler District, çavuşçiftliği No.: A/2 Altınova / YALOVA
Estimated value: 66,400,000.00 Turkish Liras
VAT rate: 20%
Registered annotations: According to registration records.
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Auction information
Date and time of start of the first auction: 05/27/2026 – 13:40
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End date and time: 06/03/2026 – 13:40
Second auction start date and time: 06/22/2026 – 13:40
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Completion date and time: 06/29/2026 – 13:40
Terms of sale:
1- The first and second auctions will be held in public via the electronic sales portal (esatis.uyap.gov.tr) during the dates and times specified above. The property will be awarded to the highest bidder provided that the offer submitted through the electronic sales portal exceeds 50% of the estimated value of the property, or if it is higher, the total value of the claims secured by that property and has priority over the claim of the creditor requesting the sale, in addition to covering the costs of implementation and distribution.
2- To participate in the auction, a cash amount equivalent to 10% of the estimated value of the seized asset must be deposited in the bank account of the enforcement office that is conducting the sale through the electronic sales portal no later than 23:30 on the day before the end of the auction period.
If the guarantee is provided in the form of a bank letter of guarantee, a specific, irrevocable letter of bank guarantee covering 10% of the estimated value must be submitted by the bidder or issuing bank to the execution office conducting the sale no later than the end of business hours on the business day preceding the end of the auction period, either physically or electronically where the system infrastructure permits.
3- Persons wishing to participate in the auction through a representative must apply to the implementation office that is conducting the sale with their representatives no later than the end of business hours on the business day preceding the end of the auction period.
However, it is sufficient for the representative to present a power of attorney or a document duly issued by notaries, public authorities or competent institutions within their authority and in accordance with established procedures. In such a case, the deposit must be paid to the Implementation Office’s account at the time of submitting the application, or a bank letter of guarantee must be submitted to the Implementation Office.
4- When joint purchase is legally permitted, joint bidders wishing to purchase the property with specified shares must apply to the execution office conducting the sale no later than the end of business hours on the day before the end of the auction period, indicating the proportions of their shares and the shareholder or representative who will submit bids on their behalf. Representatives holding a duly issued power of attorney or official authorization document may apply on behalf of shareholders. In such cases, the deposit must be paid to the account of the implementation office when submitting the application or submitting the bank letter of guarantee.
5- The creditor who requests the sale and participation in the auction, or in cases of termination of joint ownership by sale, does not oblige the shareholder participating in the auction to provide insurance amounting to the amount covered by the creditor’s claim or his share, provided that he submits this to the implementation office no later than the end of working hours on the working day preceding the end of the auction period. If the claim or share does not cover the required deposit, the missing amount must be deposited in the enforcement office’s account when submitting the application or secured with a bank letter of guarantee.
6- Mortgage creditors/mortgaged creditors and other interested parties, if any, must notify the Execution Office of their rights over the ship, especially claims related to interest and costs, accompanied by supporting documents within (15) fifteen days. Otherwise, unless their rights are registered in the ship’s registry, they may not participate in the distribution of the proceeds of the sale. This provision also applies to holders of easement rights.
7- The person who wins the auction must pay the full purchase price into the account of the Execution Office within seven (7) days from the date of publishing the minutes of the auction result on the electronic sales portal.
8- If the person who won the auction does not pay the auction price within the prescribed period, the deposit will not be refunded, but will first be deducted from the selling expenses, and any remaining amount will be distributed to the eligible owners in proportion to their claims.
9- If the auction cannot be completed because the minimum bid is not offered, or if the highest bidder is unable to pay the auction price, the auction is canceled and the second auction is held under the same conditions as the first auction.
10- All participants in the auction are considered to have read and accepted the terms of sale and all its annexes.
11- The property will be registered and delivered after the auction becomes final.
12- Value added tax, stamp duty, and all other expenses are borne by the buyer. The taxes due are paid from the proceeds of the sale (without prejudice to Article 206/1 of the Enforcement and Bankruptcy Law and Article 21/2 of Law No. 6183 regarding procedures for collecting public dues).
Source: Republic of Türkiye, Yalova, Implementation Office
