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: 12 Dec 2013 | Removal date: open ended
Still in force

Trade finance

The buyer's credit agreements between JBIC and Singaporean MOL Cape (Singapore) Pte. Ltd has an approximate total value of USD 60.7 million. Additionally, the loan is cofinanced by a number of private financial institution amounting to an approximate value of USD 121.5 million. The governmental agency Nippon Export and Investment Insurance will provide a Buyer's Credit Insurance for the cofinanced portion.

The Singaporean company is a subsidiary of Japanese Mitsui O.S.K. group. The loan finances the purchase of two large ore carriers built by Japanese Namura Shipbuilding Co., Ltd in Japan.

In this context, the Bank stated: "These loans will support the export of ships built in a Japanese shipyard which perform a significant role in the regional economy and associated industries, including their mid-tier enterprises and small and medium-sized enterprises (SMEs). Thus, these loans will contribute 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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