Overview

China Eximbank participates in Sinosure-Backed Syndicated Loan to acquire 5 cargo box ships for X-Press Feeders

Commitment Year•2023Country of Activity•SingaporeDirect Recipient Country of Incorporation•SingaporeSector•Transport And StorageFlow Type•Loan

Status

Project lifecycle

Pipeline: Commitment

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date: Oct 18, 2023

Geospatial footprint

Map overview

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The purpose of this project was for China Eximbank to participate in Sinosure-Backed Syndicated Loan to acquire 5 cargo box ships for X-Press Feeders. More detailed locational information can be found at: https://www.openstreetmap.org/way/172768639

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

X-Press Feeders/Sea Consortium

Insurance providers

State-owned companies

China Export & Credit Insurance Corporation (Sinosure)

Loan desecription

China Eximbank participates in Sinosure-Backed Syndicated Loan to acquire 5 cargo box ships for X-Press Feeders in Singapore 2023

Interest type•Unknown

Narrative

Full Description

Project narrative

On October 18, 2023, a group of banks — including China Eximbank — participated in a Sinosure-backed syndicated loan to finance the construction of five 7,000 TEU container ships for X-Press Feeders, a container shipping group operating out of Singapore. The loan agreement facilitates the acquisition of these vessels, each of which will be owned by a project company formed as a joint venture between X-Press Feeders and XT Maritime, an Israeli shipping company.

Staff comments

1. X-Press Feeders/Sea Consortium is a container shipping group operating out of Singapore. It is the 14th largest operator by capacity. It feeds transshipment hubs and ports in East and Southeast Asia, the Indian subcontinent, the Persian Gulf, the Mediterranean, and Europe. 2. Other syndicates of this loan are unknown.