Greece / Buyer's Credit Insurance for Export of Post-Panamax Bulk Carriers
Nippon Export and Investment Insurance
NEXI has decided to provide Buyer’s Credit Insurance for loans for Safe Bulkers, Inc., a Greece-based shipping company, to purchase three Post-Panamax bulk carriers by way of its subsidiaries in Marshal Islands. The carriers are built by a Japanese shipbuilder.
The loan agreements were signed on May 31 among the parties. The Loan will be provided by Japan Bank for International Corporation (JBIC) and Citibank, Japan Ltd. NEXI’s Insurance will cover the portion provided by Citibank, Japan Ltd.
NEXI will continue to support exports of vessels by Japanese shipbuilding companies with an excellent reputation for high and eco-friendly technology.
|Insured||Citibank, Japan Ltd|
|Type of Insurance||Buyer's Credit Insurance|
|Insured value||About USD 61 million|
|Covered Risks||Political risk 97.5%
Commercial risk 95.0%