Marine Link
Friday, December 9, 2016

China Finances $370M Shipbuilding Deal With Iran

March 20, 2000

The Export-Import Bank of China has agreed to lend $370 million to two state-owned conglomerates contracted to build five oil ships for Iran. The deal marks the largest loan yet by the Eximbank, which was founded in 1994 to help finance Chinese machinery exports. The loans to China Shipbuilding Industry Corp. and China Shipbuilding Trading Co. Ltd. reportedly carry export credit insurance worth $500 million.

The contracts with Iran are China's first to build and export oil ships of the 300,000-tonnage size, marking a breakthrough for the domestic shipbuilding industry.



 
Maritime Reporter Magazine Cover Nov 2016 - Workboat Edition

Maritime Reporter and Engineering News’ first edition was published in New York City in 1883 and became our flagship publication in 1939. It is the world’s largest audited circulation magazine serving the global maritime industry, delivering more insightful editorial and news to more industry decision makers than any other source.

Subscribe
Maritime Reporter E-News subscription

Maritime Reporter E-News is the subsea industry's largest circulation and most authoritative ENews Service, delivered to your Email three times per week

Subscribe for Maritime Reporter E-News