Turkey/ Buyer’s Credit Insurance for Export of Bulk Carrier
Nippon Export and Investment Insurance
NEXI has decided to provide Buyer’s Credit Insurance for a loan concerning export of a 28,000-dwt bulk carrier built by Imabari Shipbuilding Co.,Ltd. The loan agreement was signed in Istanbul on September 15.
The loan provides financing, through a Turkish bank Yapi ve Kredi Bankasi A.S., to Bogazici Deniz Tasimaciligi Ltd. STI., a subsidiary of INCE Denizcilik ve Ticaret A.S., the traditional shipping company in Turkey. Mitsubishi Corporation is the exporter.
With the financial markets still in crisis, NEXI will continue to support exports by Japanese shipbuilding companies of high technology.
|Type of Insurance||Buyer’s Credit Insurance (2 step loan)|
|Insured||Bank of Tokyo-Mitsubishi UFJ|
|Covered Risks||Political Risk (97.5%) and Commercial Risk (95%)|