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Overview

China Eximbank provides a $16 million USD loan to DNB to support Rederiet Stenersen's purchase of a 16,400-ton product oil and chemical tanker

Commitments (Constant USD, 2023)$33,659,781
Commitment Year•2004Country of Activity•NorwayDirect Recipient Country of Incorporation•NorwaySector•Transport And StorageFlow Type•Loan

Status

Project lifecycle

Pipeline: Commitment

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date
Sep 29, 2004

Geospatial footprint

Map overview

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This loan supported the purchase of a product oil and chemical tanker by Rederiet Stenersen AS, which is headquartered at Solheimsgaten 13, Bergen. More detailed locational information can be found at: https://www.openstreetmap.org/node/8884021374.

Stakeholders

Organizations involved in projects and activities supported by financial and in-kind transfers from Chinese government and state-owned entities

Ultimate beneficial owners

At least 25% host country ownership

Funding agencies

State-owned Policy Banks

  • Export-Import Bank of China (China Eximbank)

Receiving agencies

Private Sector

  • DNB Bank ASA (formerly DnB NOR ASA)

Implementing agencies

State-owned companies

  • Jiangnan Shipyard (Group) Co., Ltd.

Loan desecription

China Eximbank provides a $16 million USD loan to DNB to support Rederiet Stenersen's purchase of a 16,400-ton product oil and chemical tanker

Interest type•Unknown

Narrative

Full Description

Project narrative

Between September 27 to 29, 2004, the Export-Import Bank of China entered into a $16 million USD loan agreement with DNB ASA — a Norwegian financial services company and bank minority owned by Norway's Ministry of Trade and Industry (34.0%) and Norwegian foundation Sparebankstiftelsen DnB NOR (10.0% stake) — to support the purchase of a 16,400-ton product oil and chemical tanker by Rederiet Stenersen AS — a Norwegian shipping company — from Shanghai Jiangnan Shipbuilding Group.