Loan Insurance on Ship Export to Denmark-based Ultrabulk Group
- Loan Supporting Export of Bulk Carriers Manufactured by Imabari -

July 26, 2017
Nippon Export and Investment Insurance

Nippon Export and Investment Insurance (NEXI; Chairman and CEO: Kazuhiko Bando) has decided to provide insurance on a loan made to a Singapore-based shipholding company for the purchase of two bulk carriers built by Imabari Shipbuilding Co., Ltd. The Singapore company is a subsidiary of Ultrabulk A/S of the Kingdom of Denmark, a bulker operator under the Chile-based shipholding group Naviera Ultranav Limitada.

The loan to the Singapore subsidiary will be provided in the form of co-financing by BNP Paribas, Tokyo Branch (BNP Paribas) and Japan Bank for International Cooperation (JBIC). NEXI will provide insurance for the portion of the loan offered by BNP Paribas, Tokyo Branch.

Regarding the export transaction of the two bulkers, in which the exporter is Mitsui & Co. Ltd., NEXI has already provided export credit insurance for one of them, and is going to underwrite for the other as well.

As Japan’s government financial institution, NEXI will continue to actively support Japanese companies in their development of overseas business activities.

Insured BNP Paribas, Tokyo Branch
Insured Value Approximately USD14.2 million
Tenor Approximately 12 years

 Infrastructure Group
 Structured and Trade Finance Insurance Department
  Tel: +81-3-3512-7674