Buyers Credit for Export of Ships to MOL Cape in Singapore

These loans are cofinanced with Mizuho Bank, Ltd. (lead arranger), with the overall cofinancing amount reaching about 121.5 million U.S. dollars for two vessels. Nippon Export and Investment Insurance (NEXI) will provide Buyers Credit Insurance for the portion cofinanced by private financial institutions.
MOL Cape, the purchaser of these vessels, is headquartered in Singapore and is an exclusive large bulk carrier operator of the Mitsui O.S.K. group. These loans are intended to finance MOL Cape to purchase two 250,000 DWTtype ore carriers built by Namura Shipbuilding Co., Ltd. in their domestic shipyard.
These loans will support the export of ships built in a Japanese shipyard which perform a significant role in the regional economy and associated industries, including their mid-tier enterprises and small and medium-sized enterprises (SMEs). Thus, these loans will contribute to maintaining and improving the international competitiveness of the Japanese shipbuilding industry.
JBIC will continue to support the export of ships built in Japanese shipyards in partnership with the Shipbuilders Association of Japan by drawing on its various financial facilities and schemes for structuring projects and performing its risk-assuming function, JBIC stated.

JBIC, January 15, 2014; Image: Wikimedia