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: 25 Mar 2013 | Removal date: 23 Dec 2013
Still in force

Trade finance

On 25 March 2013, the Japan Bank for International Cooperation (JBIC) agreed with Gearbulk Shipowning Limited (Bermuda) to offer an export credit line to finance the purchase a cargo carrier.
 
The credit line amounts to USD 65.5 million, of which 23.5 million are provided by JBIC and the rest by Mizuho Corporate Bank, with buyer's credit insurance provided by the Nippon Export and Investment Insurance (NEXI). The crdit line is granted to purchase a 72400DWT open type general cargo carrier to be built by the Japanese Oshima Shipbuilding Co. Ltd.
The JBIC reported that 'this loan will provide financial support for the export of ships built by Japanese shipyards and shipping business of overseas joint ventures of Japanese companies, thereby contributing to maintaining and improving the international competitiveness of the Japanese shipbuilding and shipping industry'.
 
The JBIC is a public financial institution and export credit agency created on 1 October 1999 through the merger of the Japan Export-Import Bank and the Overseas Economic Cooperation Fund.

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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