Hong Kong / Insurance for Loans for Ship Export to TCC Group

May 30, 2014

Nippon Export and Investment Insurance

NEXI has decided to provide insurance for loans extended to Tai Chong Cheang Steamship (TCC) Group, a Hong Kong-based largest private ship-owner to purchase 2 bulk carriers built by Imabari Shipbuilding Co., Ltd., through its wholly owned subsidiaries in Singapore, Best Ocean Navigation Pte, Ltd and Nice Ocean Navigation Pte, Ltd.


Japan Bank for International Cooperation (JBIC), BNP Paribas Tokyo branch and Sumitomo Mitsui Trust Bank, Limited will extend the loans, and NEXI's insurance will cover the loans provided by commercial banks.


As a Japanese official financial agency, NEXI will continue to provide a financial support to enhance the competitiveness of Japanese companies through finance structure development and risk-taking by a variety of financial facilities.


Borrower Best Ocean Navigation Pte. Ltd.
Nice Ocean Navigation Pte. Ltd.
Insured BNP Paribas, Tokyo branch
Sumitomo Mitsui Trust Bank, Limited
Insured Value Approx. USD 24 million
Tenor Approx. 8years