Export Credit Goes Out with a Bang! – Export Credit Award East

Much to everyone’s relief, there has been a significant improvement in the risk appetite for shipping in 2010. Most traditional ship financiers have returned to the market in varying degrees and Asian banks have notably stepped up efforts to finance their domestic shipping clients. Despite so, loans have not returned to the levels seen in the heyday and 2010 was also the year where we saw the return of export credit finance in a big way. In Asia, export credit agencies especially The Export-Import Bank of China (“China Eximbank”) and Japan Bank for International Cooperation (“JBIC”) — formerly The Export-Import Bank of Japan — poured in billions of dollars to support the domestic shipbuilders last year, and many companies succeeded in closing long-term innovative export credit financings.

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