ANNOUNCEMENT 02 Aug 2014In August 2014, the government of Japan announced a change in its trade finance instruments.
NUMBER OF INTERVENTIONS
NEXI. /FPSO. Available at http://nexi.go.jp/topics/newsrelease/005401.html
On 2 August 2014, the Japanese Export Credit Agency NEXI announced a loan guarantee of USD 500 million for Petrobras of Brasil.
The purpose of the guaranteed loan is to finance the 12 ships needed in the new Floating Production, Shortage and Offloading (FPSO) system in Santos oilfield. Petrobras has ordered the ships for FPSO from the Brasillian shipbuilding companies EEP and ECOVIX-Engevix, which are partially owned by the Japanese Kawasaki Heavy Idustries and Mitsubishi Heavy Industries.
The loan guarantee has been issued for 12 years.