China Exim Bank on 20 August inked an export buyer’s credit guarantee agreement with UK investment company BCAP to provide USD690 million funding for 10 container ships to be built at Jinhai Heavy Industry.
The bank will also extend export seller’s credit loan to the shipyard.
The box ships, all over 10,000 teu, will be leased to MSC on delivery.
A bank representative said the deal not only attracts international shipowners to place orders for high-end ships at Chinese yards, but also provides financial support to the yards.
In early August, Norway-based container ship owner and lessor SinOceanic ordered five 11,500 teu vessels at Jinhai.
There are now 13 ships on Jinhai’s orderbook, including 10 8,800 teu box ships and three 2,500 teu box ships.