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: 20 Aug 2012 | Removal date: 19 Dec 2012
Still in force

Trade finance

On 20 August 2012, the Japan Bank for International Cooperation (JBIC) agreed with two Cyprus companies (Nordose Navigation Company Ltd. and Nordtulip Navigation Company Ltd.) to offer two loans for the purchase of two tankers.
The loans amount to JPY 3 billion (USD 30.19 million) and JPY 2.6 billion (USD 26.17 million) respectively and are co-financed with Sumitomo Mitsui Banking Corporation., whose portion is insured by Nippon Export and Investment Insurance (NEXI).
The loans are granted to purchase two Aframax tankers to be built at Yokosuka Shipyard, Japan, by a Japanese Company.
The JBIC argued that 'amid continued constraints to structure ship finance across the world, this loan will provide financial support for the export of ships built in Japanese shipyards, thereby contributing to maintaining and improving the international competitiveness of the Japanese shipbuilding 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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