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

Trade finance

The two export loan agreements between JBIC and PB Vessels Holding Limited has an approximate total value of USD 25.4 million. Additionally, the loan is cofinanced by a private financial institution amounting to an approximate value of USD 50.8 million. The governmental agency Nippon Export and Investment Insurance will provide an Overseas Untied Loan Insurance for the cofinanced portion.

British Virgin Islands company is a subsidiary of the shipping operator Pacific Basin Shipping Limited established in Hong Kong. The loan agreements finance the purchase of two bulk carriers built by Tsuneishi Group (Zhoushan) Shipbuilding, Inc., which is a subsidiary of Japanese Tsuneishi Holdings Corporation. A similar loan was signed in March the same year, see related measure.

In this context, the Bank stated: "These loans will finance the transactions of Tsuneishi Holdings Corporation, to support Japanese shipyards for winning orders and expanding sales, thereby contributing to maintaining and improving the international competitiveness of the Japanese shipbuilding industry."

Export Loan agreements
JBIC provides direct loans named export loans 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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