JBIC Approves Financing of Berge Bulk’s Newbuildings

The Japan Bank for International Cooperation (JBIC) and Berge Bulk have signed buyer’s credit agreements for funding the purchase of new bulk carriers.

The loans will be co-financed by the Bank of Tokyo Mitsubishi UFJ. Nippon Export and Investment Insurance (NEXI) will provide buyer’s credit insurance for the portion co-financed by the private financial institution.

With the loan, Berge Bulk will be able to buy six 34,000 DWT bulk carriers, currently being built by Namura Shipbuilding Co., Ltd.

JBIC, in partnership with the Shipbuilders’ Association of Japan, will continue to support the export of Japanese-built ships that perform a significant role in the regional economy and associated industries.

[mappress]
jbic, March 25, 2014