- Region: Asia
- Marine and Aerospace
- Export Loans
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The Japan Bank for International Cooperation (JBIC; Governor: Tadashi Maeda) signed on November 14, a buyer's credit agreement with MacLin Spring Maritime S.A., a subsidiary in the Republic of Panama owned by Taiwanese ship owner Ta Tong Marine Co., Ltd. Group (TTM Group), for financing the purchase of a box shaped bulk carrier. This loan is co-financed by the Tokyo Branch of Citibank, N.A. (lead arranger) and the co-financed portion will be covered by insurance from Nippon Export and Investment Insurance (NEXI).
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The TTM Group is based in Taiwan and is a ship owner and operator of bulk carriers. This loan is provided to finance the TTM Group to purchase a 55,200 DWT*1 box shaped bulk carrier manufactured by Japanese shipbuilder Oshima Shipbuilding Co., Ltd. It is the second loan extended to the TTM Group, following the first one in January 2018. *2
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The aim of this loan is to support the export of ships built by Japanese shipbuilders which play a major role in the regional economy and associated industries, including mid-tier enterprises and small and medium-sized enterprises (SMEs). The loan is also intended to contribute to maintaining and increasing the international competitiveness of the Japanese shipbuilding industry.
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As a Japanese policy-based financial institution, JBIC, in collaboration with the Shipbuilders' Association of Japan, will continue to provide financial support for the export of ships built by Japanese shipbuilders, by utilizing its various financial instruments for structuring projects and performing its risk-assuming function.
Note
- *1
- *2
See Press Release on January 15, 2018.