Wan Hai Secures Export Credit Finance for Japanese Newbuildings

Wan Hai Secures Export Credit Finance for Japanese Newbuildings

According to sources, Taiwanese carrier Wan Hai Lines is set to receive financial support from the Japan Bank for International Cooperation (JBIC), Japan’s public export credit agency, for a series of vessels currently under construction at Japan Marine United Corporation (JMU) and Nihon Shipyard Co (Nihon).

The funding agreement encompasses a total of eight vessels, each with a capacity of 3,055 TEU, being constructed under this arrangement. These units are part of a broader series of vessels of similar size that Wan Hai Lines has on order from JMU and Nihon, with deliveries expected to occur progressively throughout 2023 and 2024.

The agreement was officially signed between JBIC and Wan Hai’s subsidiary, Wan Hai Lines (Singapore) Pte Ltd. Furthermore, the loan will be co-financed in collaboration with Citibank’s Tokyo Branch and Mizuho Bank Ltd, with insurance coverage for the co-financed portion provided by the Nippon Export and Investment Insurance (NEXI).

Sources: Wan Hai, Alphaliner

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