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The Japan Bank for International Cooperation (JBIC; Governor: MAEDA Tadashi) signed on March 12, a buyer’s credit agreement with Wan Hai Lines (Singapore) Pte Ltd, a subsidiary in the Republic of Singapore owned by Wan Hai Lines Ltd. Group (Wan Hai Group), for financing the purchase of container vessels. This loan is co-financed with 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 Wan Hai Group is a Taiwanese full-container vessel shipping company. This loan is provided for the Wan Hai Group to purchase eight 3,036 TEU container vessels built by Japanese shipbuilder Japan Marine United Corporation (JMU).
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This loan is intended to support the export of ships 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 thus contributes 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.
