China EximBank extends $312m loan to SWS to build 18,000 teu boxships
The Export-Import Bank of China has extended a loan of $312m to Shanghai Waigaoqiao Shipbuilding (SWS) for the construction of three 18,000 teu containerships.
The loan agreement was signed between China EximBank and China Shipbuilding (Hong Kong) Shipping Leasing Co, subsidiary of China State Shipbuilding Corp (CSSC) which owns SWS.
The deal marks the first time that SWS will be building large containerships of 18,000 teu in capacity. The newbuildings will be deployed on the main Asia-Europe trading lanes and the charterer is one of the world’s top three biggest lines, according to CSSC.
China EximBank has extended loans worth a cumulative total of RMB93bn ($14.9bn) to CSSC, supporting the construction of around 120 new ships.
Source: Seatrade Global
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