IMPLEMENTATION LEVEL

NFI

AFFECTED FLOW

Outflow (subsidised)

ANNOUNCED AS TEMPORARY

No

NON-TRADE-RELATED RATIONALE

No

ELIGIBLE FIRMS

firm-specific

JUMBO

No

TARIFF PEAK

No
← back to the state act
Inception date: 30 Sep 2010 | Removal date: open ended
Still in force

Trade finance

On 30 September 2010, the Japan Bank for International Cooperation (JBIC) signed two buyer's credit loan agreements, each totalling approximately USD 116 million, with Wilhelmsen Lines Shipowning Malta, Ltd.
The loan will finance the company's purchase of two Roll-on/Roll-off vessels from Japanese Mitsubishi Heavy Industries, Ltd.
In this context the Bank stated: 'JBIC will actively support the export of ships built by domestic shipyards, as they play a major role in the regional economy by providing employment and bolstering local supporting industries, as well as Japanese firms' international shipping business, in cofinancing with private financial institutions.'
JBIC signed a similar buyer's credit agreements with a Singaporean company on the same day also facilitating exports of two Roll-on/Roll-off vessels from Japanese Mitsubishi Heavy Industries, Ltd. See related measure.
 
Buyer's credit agreements
JBIC provides direct loans named buyer's credit to overseas importers. Loans are obtained if it finances the purchase of Japanese machinery, equipment or technology in specific eligible sectors. The Bank hereto stated that these loans are intended to 'positively contribute to Japanese companies'. Further information can be found on the Bank's website under export loans.

The GTA includes state guarantees and other financial incentives that are likely to affect the restructuring and performance of firms facing international competition, whether from imports, in export markets, and from foreign subsidiaries.

According to UN Comtrade, no trading partner exceeded the GTA threshold of USD 1 million on the affected tariff lines in the year prior to the intervention. Thus, no affected trading partners have been identified.

AFFECTED COUNTRIES

MAP
TABLE
EXPORT

AFFECTED SECTORS AND PRODUCTS

493 Ships
8901 Cruise ships, excursion boats, ferryboats, cargo ships, barges and similar vessels for the transport of persons or goods.
890110 Cruise ships, excursion boats and similar vessels principally designed for the transport of persons; ferryboats of all kinds
890120 Tankers
890130 Refrigerated vessels, other than those of subheading 8901.20
890190 Other vessels for the transport of goods and other vessels for the transport of both persons and goods

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