Overview

China Eximbank provides USD 64.7 million preferential buyer's credit for construction of 2 bulk carriers for Interorient Navigation Company

Commitments (Constant USD, 2023)$83,213,159

Commitment Year•2010Country of Activity•CyprusDirect Recipient Country of Incorporation•CyprusSector•Transport And StorageFlow Type•Loan

Status

Project lifecycle

Pipeline: Commitment

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date: Jan 1, 2010

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

Interorient Navigation Co Ltd

Implementing agencies

Private Sector

Jiangsu New Yangzi Shipbuilding Co., Ltd.

Insurance providers

State-owned companies

China Export & Credit Insurance Corporation (Sinosure)

Loan description

China Eximbank provides USD 64.7 million preferential buyer's credit for construction of 2 bulk carriers for Interorient Navigation Company

Interest type•Unknown

Narrative

Full Description

Project narrative

In 2010, China Eximbank provided a USD 64.7 million preferential buyer's credit loan to Cyprus-based Interorient Navigation Co Ltd. for the construction of two 115,000 dwt bulk carriers at Jiangsu New Century Shipbuilding. The buyer's credit insurance for the transaction was provided by Sinosure.