Info: Terms and conditions
ShipX Terms and Conditions - valid from: September 14th 2010

ShipX AS, Norwegian Business Number 994984179 ("ShipX" or the "Company"), operator of online marketplaces, provides access to its services ("Service") to individuals, sole proprietors, partnerships, businesses and corporations, or anyone acting on behalf of or with the express or implied authority of such person or entity ("User", "Seller", "Buyer" or "you") subject to the following terms and conditions (the "User Agreement"). Our service is comprised of, but not limited to, our online marketplaces that include, online services, account management services, and customer support (together "Site and Services", each "Site" and "Services"). As a condition of using the Site and Services, the Company requires that you review and accept this User Agreement.


A reference to this Agreement includes the Policies, unless stated otherwise. All of the following agreements which are found at, are incorporated into this Agreement by reference for all purposes:
Privacy policy
Fees policy

ShipX may, at its sole discretion, change, modify, add or remove any portion of this Agreement, in whole or in part, from time to time and at any time without notice to you, by posting such changes on the Site. Your continued use of the Site and the Service after such changes are posted will constitute your agreement to such changed Agreement. This Agreement was last revised on the date specified at the top of this Agreement.


1.1. Company Objective
The Company's vision is to be recognized in the maritime industry as the preferred tool to determine the market price of one-of-a-kind assets.

We will provide Sellers with online auction and marketing tools that effectively market excess assets to a global audience and determine who will pay the clearing market price. ShipX will also provide Sellers with easy to use and powerful online marketing tools to promote their company and products.

We will provide qualified professional buyers in the maritime community with a venue to source assets, on a global scale, at attractive prices.

1.2. Company Services
To fulfill its objectives, the Company has developed a tailored technology and integrated services. These Services are described in detail in the Buyer and the Seller sections of the website.

Since the Company is acting only as a venue, and is not involved in the actual transaction between any Buyer and Seller, the Company has no control over the quality, truthfulness in accuracy, safety, or legality of any Asset or information advertised through our Services. Also, ShipX cannot ensure the ability of any Seller to sell any Asset or of the ability of any Buyer to purchase any Asset on which a Buyer has successfully bid. We cannot ensure and do not guarantee that a member or browser of our site will actually complete a transaction or act lawfully in using our site. The Company is in no way associated or involved with the actual transaction between any Buyer and Seller, and does not act as an agent for any Buyer or Seller.

When you enter into a transaction you create a legally binding contract with another User, unless the transaction is prohibited by law or by this Agreement or our Policies. You are responsible for ensuring that you comply with your obligations to that other User. If you do not, you may become liable to that User. You must ensure that you are aware of any laws relevant to you as a buyer or seller, or in any other uses you make of our Site. If another User breaches any obligation to you, you - not ShipX - are responsible for enforcing any rights that you may have.

The Company does not offer any form of insurance or other buyer or seller protection which will assist you.

1.3 Safe Trading.
Because user identification on the Internet is difficult, ShipX cannot and does not confirm each member's purported identity. We encourage you to communicate directly with potential trading partners through the tools available on our Site or other suitable communication channels, and perform appropriate Due Diligence of potential trading partners.

Please note that there are risks involved in using our Site, including dealing with under age persons or people acting under false pretence. Additionally, there may be risks with international trading and dealing with foreign nationals.

1.4 Release.
ShipX, to the extent permitted by law, specifically disclaims all liability for any loss or damage, (actual, special, direct, indirect and consequential) of every kind and nature, known and unknown, suspected and unsuspected, disclosed and undisclosed, arising out of or in any way connected with your ShipX transaction.

ShipX is not involved with or a party to any transactions that take place between members. ShipX does not accept any liability in respect of your involvement in any mediation, arbitration, tribunal hearing, court proceeding or other proceedings (of whatever nature) with a buyer or a seller (as the case may be) in any way arising out of or in any way connected with your transaction. ShipX may plead this Agreement in bar to any claim, action, proceeding or suit brought by you, against ShipX for any matter arising out of any ShipX transaction or otherwise in respect of this Agreement.

This clause does not affect any rights you may lawfully have against ShipX itself for its own acts or omissions.

1.5 Information Control.
You acknowledge that:
(a) ShipX will not and cannot control the information provided by users which is made available through the Services
(b) ShipX has no control over the quality, safety or legality of the Assets listed by users, the truth or accuracy of the listings by users or any other information provided by users; and
(c) consequently, you must use caution and common sense when using the Site.
If you find information on the Site to be offensive, harmful, incomplete, inaccurate, false, misleading, or out of date, or information or assets on the Site to be unsafe, in contravention of law or otherwise inappropriate, you should immediately notify ShipX in writing providing full details.

The Company reserves the right to stop or delete any auction or listing on the site at any time for any reason, at our sole discretion. We may also restrict access to certain postings at our sole discretion.

The Services are available only to individuals or entities that can form legally binding contracts. Without limiting the foregoing, minors in any jurisdiction may not participate in the Services.

The Company reserves the right, at its sole discretion, to review the status and compliance of any User with the terms of this User Agreement and to suspend or terminate a User's use of the Site and Services without notice.

In the event that ShipX changes its services, suspends, terminates or restricts your membership in the circumstances outlined above or in this User Agreement, you may not be able to access our services temporarily or permanently and you are prohibited from applying for a new account.

Each User agrees that all of the information provided in their registration application is timely, true and correct, including, but not limited to, the User's legal name, address, phone number, fax number, e-mail address, and other personal and business information. You agree to promptly notify the Company should the User information provided need to be updated, changed or deleted.

You understand that your failure to provide accurate and complete information may result in actions taken against you, including without limitation, the immediate suspension or termination of your use of the Services and any other legal action found appropriate by the Company and/or your trading partner. User understands that email will be the primary medium for Company to communicate information about the auctions.

2.1. User Password
Upon the approval of your registration, you will select a username and a password. You agree that you are solely responsible for preserving the confidentiality of your username and your password and all activities and charges related to the use of your password, including unauthorized use. You agree not to furnish your username, password or other information to any other party for use of the Site and Services. You agree to notify the Company immediately of any unauthorized use of your personal password or username and any other breach of security regarding the Services.

2.2 Manipulation.
Neither you, nor any other bidders or sellers, may manipulate the price of any item by, for example, conducting, encouraging or permitting certain activities (for example, shill bidding). You also must not, in any way, interfere with the listings of other members.

Users who use the Company's Site to sell assets or merchandise of any kind agree that:

3.1 Listing Information
Sellers are solely responsible for the accuracy, completeness and validity of all the information describing the assets listed for sale (the "Listing Information"). Sellers, who post assets for sale on the Company's Site ("Listed Assets"), represent and warrant that they are the lawful owners of the listed assets. Each Seller represents and warrants that all Listing Information provided is accurate and truthful regarding, without limitation, the type, quantity and condition of the Listed assets in any auction posted by the Seller on the Company's Site.

Your listings may only include text descriptions, graphics, pictures, documents, drawings and other content relevant to the sale of that item, including any information that you are required to provide by any applicable law. Each listing may only include information about one asset, or a quantity of identical assets that are offered for sale separately.

Sellers understand and agree that the Company, at its sole discretion, may take any action it deems necessary to review, edit or remove any Listing Information provided with respect to any assets posted by a Seller.

3.2. No Unlawful Assets
Sellers agree that they will not attempt to sell any illegal assets of any kind through the Company's Site and Services, including, without limitation, all counterfeit goods, drugs, guns, pornography, munitions, hazardous waste, non-metal scrap or any other item, the Company, in its sole discretion, deems to be unlawful.

You must not, by any means, infringe the rights (including intellectual property rights) of others. Examples of prohibited conduct include listing or selling "knock offs" and counterfeit items regardless of how you describe them.

3.3. Offer to Sell
Upon posting an asset for sale, Seller represents, warrants and agrees that it is irrevocably offering to sell the Listed Assets to any Buyer who satisfies the requirements of the auction, terms of payment and shipping. Seller represents, warrants and covenants that
(1) it has good and marketable legal title to the offered Assets, free and clear of any lien, security interest, leasehold interest, co-ownership interest, or any other type of encumbrance or interest of any other person or entity,
(2) it has authority to list the offered assets for sale and to sell the offered assets, no listed asset infringes or violates (or contains any parts or components which infringe or violate) any third party's copyright, patent, trademark, trade secret or other intellectual property or propriety rights.

3.4 Binding Bids.
If you are a seller and receive at least one bid at or above your stated Reserve price (the "Reserve price", you are obligated to complete the transaction with the highest bidder upon the item's completion, unless there is an exceptional circumstance, such as:
a. the buyer fails to meet the terms of your listing (such as payment method); or
b. you cannot authenticate the buyer's identity
c. you cannot agree on a satisfactory payment guarantee with the buyer.

Sellers acknowledge that Buyers may fail to perform. The Company does not provide any representations or guarantees that Buyers will pay Sellers on their agreed price on a timely basis. , , and is not responsible in case of a delayed or failed payment by the Buyer.

3.5. Service and Transaction Success Fees
When listing, and upon the closing of a transaction, Sellers agree to pay the Company a success-based transaction fee for the marketing of their assets. ShipX's fees and commissions for Sellers are available at Fees policy and are hereby incorporated by reference. ShipX may change its fees, payments and commissions from time to time, but no such change shall apply retroactively to Equipment already listed for an Auction.

All fees and other amounts payable pursuant to this User Agreement shall be paid in the listing currency (United States Dollars), free and clear of, and without deduction or withholding on account of, taxes of any kind. Payments are due within 15 business days of invoice.

Users who use the Site to bid on and purchase Listed assets of any kind ("Buyer" or "Buyers") represent, warrant and agree that:

4.1. Bidding Activity
4.1.1. Buyer, by bidding on any auction assets, is demonstrating Buyer's intention and financial capability to purchase these assets.

4.1.2. Upon the placing of a bid, the Buyer may not retract, amend or modify their bid without prior approval by the Company.

4.1.3 Price manipulation of any kind, directly or indirectly, by users is prohibited, including bidding through a secondary account, agent or assigns on equipment that you are selling, by communicating with other Bidders and Sellers, or by shill bidding.

4.1.4. The Successful Bidder is defined as the Registered Buyer that places the Winning Bid in any Auction, or the buyer who concludes bidding using the "Purchase Now" function.

A Successful Bidder must honor the Winning Bid placed in any auction and is obligated to complete the transaction with the Seller if the Reserve price is met, unless the item or transaction is prohibited by law, by this Agreement or by our Policies. By bidding in an auction, a Buyer agrees to honor all listed terms of sale including, but not limited to, method of payment, appropriate state sales tax, and shipping and handling fees. Bidders agree that bidding on the Company's Service is the legal equivalent of a binding purchase order.

In the absence of Seller fraud, failure of Buyer to complete the purchase of assets may result in damages, including but not limited to the specific performance of the Buyer. Failing to honor any of a Buyer's obligations may result in the termination of the Buyer's registration with the Company, as well as, any consequential legal judgement against the Buyer for breaching the legal contract consummated upon being declared the Winning Bidder at time of Auction Close.

5.1 Auction Period
The Auction period shall be determined by ShipX and will end at either a time to be determined by ShipX or a ten-minute period of no bidding activity, whichever is later.

5.2. Void Bids
ShipX reserves the right to at its own discretion reject or void bids, whether winning or not, which it ShipX reasonably believes have not been made in good faith, are intended to manipulate the Auction process, or are prohibited by applicable law.

5.3 Winning Bids
ShipX is the one and only judge for the determination of Winning Bids, but you acknowledge and agree that neither ShipX nor its Personnel shall not be liable for any Losses arising from or in connection with any errors or omissions relating to such determination, whether by ShipX or any other person.

5.4 Postponement and Cancellation
ShipX reserves the right to postpone or cancel any Auction, or any sale resulting there from, in its own reasonable discretion, without notice. You acknowledge and agree that neither ShipX nor its Personnel will have any liability for Losses arising from or in connection with any withdrawal, cancellation or postponement of Auctions or sales.


6.1 Definition.
"Your Information" means any item you list as well as any information you give to us or other members in the registration, bidding or listing process, in any public message area (including the discussion boards and in feedback) or through any email feature. Your Information also includes the descriptions of items you list for sale or display on our Site, as well as any content you post on other web pages within our Site (including photographs or other images).

6.2 Restrictions.
You are solely responsible for Your Information. We act as a passive conduit for your online distribution and publication of Your Information.

Your Information must not, in any way whatsoever, be potentially or actually harmful to ShipX or any third party, where "harm" includes, but is not limited to non-economic loss that will or may be suffered by ShipX. The Policies contain detailed statements of prohibited conduct relating to Your Information. Without limiting any provision of this Agreement, Your Information must be up to date and kept up to date and must not:

a. be false, inaccurate or misleading or deceptive;
b. be fraudulent or involve the sale of counterfeit or stolen items;
c. infringe any third party's copyright, patent, trademark, trade secret or other proprietary rights or intellectual property rights, rights of publicity, confidentiality or privacy;
d. violate any applicable law, statute, ordinance or regulation (including, but not limited to, those governing export and import control, consumer protection, unfair competition, criminal law, antidiscrimination and trade practices/fair trading laws);
e. be defamatory, libellous, threatening or harassing;
f. be obscene or contain any material that, in ShipX's sole and absolute discretion, is in any way inappropriate or unlawful, including, but not limited to obscene, inappropriate or unlawful images and;
g. contain any content that is prohibited or that, in ShipX's sole and absolute discretion, may be prohibited content according to law;
h. contain any malicious code, data or set of instructions that intentionally or unintentionally causes harm or subverts the intended function of any ShipX website, including, but not limited to viruses, Trojan horses, worms or other computer programming routines that may damage, modify, delete, detrimentally interfere with, surreptitiously intercept, access without authority or expropriate any system, data or personal information;
i. create liability for us or cause us to lose (in whole or in part) the services of our ISPs or other suppliers; or
j. link directly or indirectly to or include descriptions of goods or services that you do not have a right to link to or include.

Furthermore, you may not list any item on our Site (or complete any transaction that was initiated using our Service), if the payment to us of the listing fee or the final value fee, would be likely to cause us to violate any applicable law, statute, ordinance or regulation.

6.3 License.
Solely to enable ShipX to use the information you supply us with, so that we are not violating any rights you might have in that information (including any intellectual property rights), you agree to grant us a non-exclusive, worldwide, perpetual, irrevocable, royalty-free, sublicensable (through multiple tiers) right to do and authorise the doing of all acts comprised in the copyright and to exercise the publicity, and database rights (but no other rights) you have in Your Information, in any media now known or not currently known, with respect to Your Information. ShipX will only use Your Information in accordance with our Privacy Policy, , and always within the applicable legal requirements. . We need this to use and display your content.


We encourage you to try and resolve disputes with other members directly with them, to use a certified mediation (such as online dispute resolution processes) or an arbitration entity or to report disputes to your local police or law enforcement agency as appropriate.

8.1. Interruption of Service
User understands that the Company shall take all commercially reasonable efforts to make its Site and Services available. However, the Company is not responsible for any damages or losses related to any system errors or interruptions affecting its Site and the processing of any online auctions or sales. User understands that the Site may be unavailable unexpectedly as a result of circumstances beyond its control or routine maintenance. User agrees not to attempt any action which may disrupt the Company's Site and Services, including transmitting any virus-infected files or software routines, bulk e-mail solicitations, or reverse engineering of any of the Company's programs or infrastructure.

8.2. Changes to Site and Services
The Company reserves the right, in its sole discretion, to modify, suspend or terminate any aspect of its Site and Services, including, but not limited to, content, auction features, news and information, and product categories without notice.

8.3. Record Keeping
The Company cannot guarantee the preservation or maintenance of records relating to historical auction transactions and bidding activity and encourages User to keep individual records and an accounting of all activity conducted through the Company's Site.

8.4. Taxes
User acknowledges and agrees that the Company does not have any responsibility to report, calculate, determine or anticipate the payment of any taxes, which may be assessed or owed by any User in connection with the use of the Company's Site and Services. User understands and agrees that User is solely responsible for the calculation and payment of any taxes that may be incurred as a result of using the Company's Site and Services.

8.5 No Agency.
No agency, partnership, joint venture, employee-employer, franchisor-franchisee or other similar relationship is intended to be or is created by this Agreement. In particular you have no authority to bind the Company, its related entities or affiliates in any way whatsoever.

8.6. Notice and Communication
Unless stated otherwise, all notice and communication with User shall be provided by e-mail to the e-mail address provided by the User in their registration application or via posting on the Site. Notice shall be deemed to have been provided 24 hours after the e-mail was transmitted by the Company or the information was posted on the Site. If the Company receives a message that the User's e-mail is disconnected or is no longer valid, notice shall be deemed to have been provided 72 hours following the mailing of a letter to the User's address contained in their registration application, or if sent by facsimile transmission, 24 hours following the transmission to the Users fax number contained in their registration application (as long as the sender has a confirmation report specifying the facsimile number listed above, the number of pages sent and the date of the transmission).

8.7. Indemnity.
You agree to indemnify and hold the Company and (as applicable) the Company related entities, affiliates, and our and their respective officers, directors, agents, and employees, harmless from and against any and all claims, demands, proceedings, losses and damages (actual, special and consequential) of every kind and nature, known and unknown, including reasonable legal fees, made by any third party due to or arising out of your breach of this Agreement or your violation of any law or the rights of a third party.

8.8. Third Party Links
The Site may contain links to other websites or resources for the convenience of Users in locating related information and services. User acknowledges and agrees that Company is not responsible or liable for (i) the availability or accuracy of such sites or resources, or (ii) the content, advertising or products on or available from such sites or resources. The inclusion of any link on the Site does not imply that Company endorses the linked site. User uses the links at User's own risk.

8.9. Jurisdiction
The Agreement is governed by Norwegian law. Any disagreements about the interpretation or implementation of the Agreement shall first be the subject of negotiation between the parties. If no amicable solution is reached, disputes arising from the Agreement shall be resolved by Oslo city court in Norway (OsloTingrett).

8.10. Survival
If any provision of this Agreement is held by a court of competent jurisdiction to be invalid or unenforceable, then such provision shall be enforced to the maximum extent permissible so as to effect the intent of this Agreement (or failing that, severed from this Agreement), and the remainder of this Agreement shall continue in full force and effect. You must commence any cause of action arising out of or related to the Service or this Agreement within six (6) months after the cause of action arises; otherwise, such cause of action is permanently barred and neither the Company, its Personnel nor other users are liable for any Losses to which that barred cause of action relates. This Agreement comprises the entire agreement between you and the Company and supersedes all prior agreements between the parties, regarding the subject matter contained herein. All provisions in this Agreement regarding representations and warranties, indemnification, disclaimers and limitations on liability, and any other term intended to survive termination, shall survive any termination of this Agreement.

8.11. Termination
The terms and conditions of this User Agreement constitute a binding agreement between the Company and each User until terminated by the User or the Company. User may discontinue use of the Site and Services at any time upon notice to Company. Upon termination, User is obligated to immediately cease using the Site and Services. The Company expressly reserves the right to terminate the use of, or to refuse to permit the use of, the Services and the Site by any person or entity, at the sole discretion of the Company, for any reason and without notice.

8.12. No Warranty.
The Company does not guarantee continuous, uninterrupted or secure access to our services, and operation of our Site may be interfered with by numerous factors outside our control. To the extent that such factors are outside of our control, ShipX shall not be liable.

To the extent that ShipX and all affiliates and related entities of ShipX are able to limit the remedies available under this Agreement, and subject to Clause 8.14 of this Agreement, ShipX and all affiliates and related entities of ShipX expressly limit their liability for breach of a non-excludable condition or warranty implied by virtue of any legislation to the following remedies (the choice of which is to be at ShipX's sole discretion):

i. the supply of the services again; or
ii. the payment of the cost of having the services supplied again.

8.13. Liability Limit.
To the extent permitted by law in no event shall we, our affiliates and related entities or our suppliers be liable for lost profits or any special, incidental or consequential damages arising out of or in connection with our Site, our Services or this Agreement (however arising, including negligence). You agree to accept sole responsibility for the legality of your actions under the laws which apply to you. You agree that the Company and all affiliates and related entities of the Company have no responsibility for the legality of our users actions. To the extent permitted by law, and subject to any contrary requirements arising under any applicable law, our liability, and the liability of our related bodies corporate, affiliates or suppliers, to you or any third parties in any circumstance is limited to the greater of:
(a) the amount of fees you pay to us in the 12 months prior to the action giving rise to liability; or
(b) US$100.

Notwithstanding the above provisions, nothing in this Agreement is intended to limit or exclude any liability on the part of ShipX and its affiliates and related entities where and to the extent that applicable law prohibits such exclusion or limitation.

8.14. Waiver
ShipX does not waive a right, power or remedy if it fails to exercise or delays in exercising the right, power or remedy. A single or partial exercise of a right, power or remedy by ShipX does not prevent another or further exercise of that or another right power or remedy. A waiver of a right, power or remedy by ShipX must be in writing and signed.

8.15. Intellectual Property
Company intellectual property ("Company IP") is all inventions, know how, improvements, discoveries, methods, processes, concepts, designs, ideas, prototypes, samples, drawings, blueprints, specifications, computer or intellectual property programs, methods of doing business, copyrights, trademarks, trade names, software and/or other works conceived of and/or reduced to practice or writing or otherwise relating to the Site or Services. Company IP may be created by one of more of Company's employee(s) alone or jointly with a User or Users arising from the use and development of the Services or as a result of User's feedback regarding the Site or Services ("Feedback"). All right, title and interest in any Company IP shall belong to Company and shall be subject to the conditions of this User Agreement. User hereby irrevocably assigns to Company all right, title and interest User may acquire in any Company IP. Company may, at its option, file an application for intellectual property protection for Company IP. If any such Company IP is created with User's participation, User agrees to cooperate with Company to assure that such application(s) will cover, to the best of User's knowledge, all related assets, including all features of commercial interest and importance. Company IP is the sole and exclusive property of the Company, unless otherwise stated and may not be used without the prior written consent of the Company.

8.16 Privacy.
You must comply with ShipX's Privacy policy, which is hereby incorporated by reference

8.17 Trademarks
The Site and the Company's tradenames, domain names and logos found on the Site are trademarks or service marks of ShipX. No display or use of such marks may be made without the express written permission of ShipX.

8.18 Further action
You must, at your own expense, do everything reasonably necessary (including executing documents) to give full effect to this Agreement and any transaction contemplated by it.

8.19 Order of precedence
If there is any inconsistency between the provisions of the documents that together form this Agreement, the documents will prevail in the following order to the extent of that inconsistency: (a) this document; (b) the Auction Terms; and (c) all other documents forming part of this Agreement.

8.20 Legal Compliance
In addition to this Agreement, you must familiarise yourself with, and comply with the Policies, laws, (-statutes, ordinances and regulations regarding your use of our services including bidding on, listing, purchase, solicitation of offers to purchase, and sale of Assets).

Notwithstanding successful conclusion of a transaction you must ensure strict compliance with any particular formalities which, if not complied with, will either render a transaction void or unlawful.

8.21 Assignment
This User Agreement may not be assigned by User or by operation of law to any other person, persons, firms or corporations without the express written approval of the Company.

This Agreement may be assigned by ShipX to a third party without your consent in the event of a sale or other transfer of some or all of the assets of ShipX. In the event of any sale or transfer you will remain bound by the Agreement.

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  • ShipX AS co
    20 Upper Circular Road
    The Riverwalk 04-04
    Singapore 058416

    Phone: +65 6557 2305