EximBank China Approves USD 494m in Shipbuilding Loans

EximBank China Approves USD 494m in Shipbuilding Loans

Export-Import Bank of China has granted a USD 312 million loan to Shanghai Waigaoqiao Shipbuilding for the construction of three 18,000 TEU container ships. The bank also signed a USD 182 million financing agreement with Bangladesh Shipping Corporation for the construction of six newbuildings.

Exim Bank of China signed the loan for the construction of the container ships with China State Shipbuilding (Hong Kong) Shipping Leasing, subsidiary of China State Shipbuilding Corp (CSSC) which owns Shanghai Waigaoqiao Shipbuilding.

Bangladesh Shipping Corporation will use its loan to finance the construction of three bulk carriers and three tankers, local media reported.

The state-owned BSC currently owns eight ships, with five of those in full operation. With the fleet’s average age of 30 years, most of the global ports are out of BSC’s reach due to international regulations.

earlier this month, EximBank of China signed a USD 1.75 billion loan facility with China’s shipping and logistics giant Cosco for the construction of 53 new vessels.

World Maritime News Staff

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