- Region: Latin America and the Caribbean
- Marine and Aerospace
- Export Loans
November 7, 2012
- The Japan Bank for International Cooperation (JBIC; Governor: Hiroshi Okuda) signed today a buyer’s credit agreement with New Stream Shipping S.A. (New Stream), a wholly owned subsidiary of ORIX Corporation in the Republic of Panama. The loan is cofinanced with The Bank of Tokyo Mitsubishi UFJ, Ltd. (lead arranger), with Nippon Export and Investment Insurance (NEXI) providing Buyer’s Credit Insurance for the cofinanced portion.
- The loan is intended to finance New Stream to purchase a 33,000 DWT bulk carrier to be built by Shin Kurushima Dockyard Co., Ltd. at Onishi Shipyard in Imabari City, Ehime Prefecture.
- Amid continued constraints to structure ship finance across the world, this loan will provide financial support for the export of ships built in Japanese shipyards, thereby contributing to maintaining and improving the international competitiveness of the Japanese shipbuilding industry.
- JBIC will continue to actively support the export of ships built in Japanese shipyards, which perform a significant role in the regional economy, including through employment creation and business dealings with associated industries, by cofinancing with private financial institutions and in partnership with the Shipbuilders’ Association of Japan.