Overview

China Eximbank provides $690 million buyer’s credit loan for acquisition of ten 10,000 TEU container ships

Commitments (Constant USD, 2023)$721,876,883

Commitment Year•2015Country of Activity•United KingdomDirect Recipient Country of Incorporation•Cayman IslandsSector•Transport And StorageFlow Type•Loan

Status

Project lifecycle

Pipeline: Commitment

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date: Aug 20, 2015

Geospatial footprint

Map overview

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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

BCAP Holdings Limited (BCAP)

Implementing agencies

Private Sector

Jinhai Heavy Industry Co., Ltd.

Loan description

China Eximbank provides $690 million buyer’s credit loan for acquisition of ten 10,000 TEU container ships

Interest type•Unknown

Narrative

Full Description

Project narrative

On August 20, 2015, the Export-Import Bank of China announced that it had entered into a $690 million export buyer's credit loan agreement with a British investment firm known as BCAP Holdings Limited (BCAP) to finance the acquisition of ten 10,000 TEU container ships constructed by Jinhai Heavy Industry Co., Ltd. at Zhejiang Shipyard. China Eximbank also reportedly issued an export seller's credit to Jinhai Heavy Industry Co., Ltd. for this project. Once delivered, the ships were to be hired by Switzerland-based Mediterranean Shipping Company (MSC). No further details are available.