China State Bank Gives Shipbuilder US$6.5-Billion Credit Boost

MarineLink.com
Friday, July 19, 2013

CSSC and China Development Bank (CDB) have signed an additional agreement of financial cooperation in Beijing.

According to the agreement, CDB will put its advantages of investment, financing, bond, leasing and stock into full play, and provide CSSC with finance of 80 billion Yuan RMB in total in various ways.

Previously China State Shipbuilding Corp. had obtained Yuan RMB 260-Billion to help see it through the shipping industry's economic downturn.

The official release adds that the credit facility is: "... in order to support CSSC's full transformation development and building an industry-finance integration innovative enterprise with strongest shipbuilding capability, high integration of military & civilian, moderately diversified development and strong international competitiveness.[sic]

Maritime Reporter July 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Shipbuilding

ABS Grants AIP for Jensen’s LNG ATB Design

A Jensen Maritime-designed, liquefied natural gas (LNG)-bunkering articulated tug-barge (ATB) has been granted approval in principle (AIP) by classification society American Bureau of Shipping (ABS).

SENER Presents on History of Ship Design

The COMPIT annual edition took part this year from May 11-13 in Ulrichshusen, Germany, with the participation of SENER. This event is an International Conference

New Tanker Delivered to Ardmore Shipping

25,000 DWT IMO 2 product and chemical tanker ship, Ardmore Chinook, joins Ardmore fleet   Ardmore Shipping Corporation announced that its latest newbuild tanker vessel,

Finance

SBM Offshore Completes $1.55 bln FPSO Financing

SBM Offshore announced it has today completed the project financing of FPSO Cidade de Saquarema for a total of $1.55 billion, marking the largest project financing in the company's history.

NAT Buys 2 Suexmax Tankers

Nordic American Tankers Limited (NAT) acquires two modern Suezmax tankers, increasing the fleet to 26 vessels    Tanker shipping company NAT announced that it

Rolls-Royce Bolsters R&D for MTU Engines

New R&D test facilities in Friedrichshafen already in service; 40 million euros invested for greater fuel economy and lower emissions    Rolls-Royce Power Systems

 
 
Maritime Security Maritime Standards Naval Architecture Pipelines Pod Propulsion Port Authority Salvage Shipbuilding / Vessel Construction Sonar Winch
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1187 sec (8 req/sec)