China EximBank Bankrolls Boxship Deal at Jinhai

The Export-Import Bank of China has signed a $ 690 million ship buyer credit agreement with the United Kingdom BCAP Investment Holdings Corporation intended for financing the company’s order of ten 10,000 TEU container ships at Chinese shipyard in Zhejiang, Jinhai Heavy Industry Co., Ltd.

Under the deal, Exim will also provide Jinhai Heavy with the ship export seller’s credit.

The move is an integral part of Exim bank’s strategy to secure high-end international shipowners’ interest in ordering ships in Chinese yards, the bank said.

Once delivered, the ships will be hired by Switzerland-based Mediterranean Shipping Company (MSC).

The shipyard has thirteen container ships in its orderbook, comprising of ten 8,800 teu and three 2,500 teu box ships.