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: 13 Aug 2013 | Removal date: open ended
Still in force

Trade finance

The buyer’s credit loan agreement between JBIC and Berge Blanc Company S.A. has an approximate value of USD 24.7 million. Additionally, the loan is cofinanced by a number of private financial institutions amounting to an approximate value of USD 49.4 million. The governmental agency Nippon Export and Investment Insurance will provide a Buyer's Credit Insurance for the cofinanced portion.

The Panamanian company is a subsidiary of the Singaporean company Berge Bulk Limited. The buyer's credit finances the purchase of a 297,000 DWT unimax ore carrier built by Japan Marine United Corporation in Japan.

In this context, the Bank stated: "Amid continued constraints to structure ship financing across the world, this loan will provide financial support for the export of a ship built in a Japanese shipyard, thereby contributing to maintaining and improving the international competitiveness of the Japanese shipbuilding industry."

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.

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.
890190 Other vessels for the transport of goods and other vessels for the transport of both persons and goods

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