Chinese export bank offers new million dollar loans to shipping

The Chinese Export-Import Bank has issued five loans for a total of USD 825 million in an effort to support the ship industry. One of the loans goes to a joint agreement with Norwegian Seadrill, writes Lloyd’s List.

Five major loan financing agreements for a total of USD 825 million were issued by the Chinese Export-Import Bank on Tuesday, in an effort to support China’s shipping and shipbuilding industries, according to Lloyd’s List.

The loans were provided to foreign companies with orders for offshore vessels at Chinese shipyards, including Norwegian Seadrill, for project financing of Chinese shipyards, and in credits for Chinese buyers.

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