Taiwan / NEXI to Underwrite Loan Insurance for Ta Tong Marine Co., Ltd. Group to Support Its Ship Export
~Loan Contributing Export of Bulk Carrier Built by Oshima Shipbuilding~

November 14, 2018

Nippon Export and Investment Insurance

Nippon Export and Investment Insurance (NEXI: President and CEO: Kazuhiko Bando) has decided to provide a loan insurance for MacLin Spring Maritime S.A. in the Republic of Panama, which is financed by Taiwan’s Ta Tong Marine (“TTM”) Group, to support its purchase of a bulk carrier built by Oshima Shipbuilding Co., Ltd (“Oshima Shipbuilding”).

With the loan insurance, NEXI will cover a financing portion provided by Citibank, out of the co-financing set up between Citibank and Japan Bank for International Cooperation (“JBIC”) for the purchase.

The TTM Group, a bulk carrier owner and operator, will be purchasing a 55,200 dwt1 steel carrier built by Oshima Shipbuilding to use it as a chartered vessel for Japanese shipping companies. This is the second time2 for NEXI to provide loan insurance for the TTM Group, following the first insurance offered in January 2018.

As Japan’s policy-based financial institution, NEXI will continue to actively support Japanese companies’ exporting business.

Insured Citibank, N.A. Tokyo Branch
Tenor Approximately 10 years

Contact: Infrastructure Group, Structured and Trade Finance Insurance Department
     Tel: 03-3512-7674

1 Deadweight tonnage (DWT); a measure of how much mass a ship can carry safely.

2 For more details about the NEXI’s first insurance for the TTM Group, please see the following press release: Taiwan / Loan Insurance to Support Ship Export to Ta Tong Marine CO., Ltd. Group ~ Loan Supporting Export of Iron Ore Carrier Built by Imabari Shipbuilding ~