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Singapore/Loan Insurance to Wan Hai Lines Ltd.Group to support ship exports


April 12, 2022

Nippon Export and Investment Insurance

Nippon Export and Investment Insurance (NEXI; Chairman and CEO: Atsuo Kuroda) has decided to provide insurance for loans to Wan Hai Lines (Singapore) Pte Ltd. (WHLS), the Singaporean subsidiary of Taiwan-headquartered Wan Hai Lines Ltd. (WHL). The loans will be used to finance WHLS purchase of twelve 3,013 TEU container vessels built by Japan Marine United Corporation (JMU) and Nihon Shipyard Co., Ltd (NSY).

The loans are provided through cofinancing by Citibank, N.A., Tokyo Branch, Mizuho Bank, Ltd. and Japan Bank for International Cooperation (JBIC). NEXIโ€™s insurance will support commercial banksโ€™ loan portion.

WHL is engaged in container transportation and other businesses mainly in Asia. NEXI has also provided insurance for loans, which was used to finance WHLS purchase of eight 3,036 TEU container vessels built by JMU and NSY, in March 20201.

As a financial institution implementing Japanโ€™s policy, NEXI will continue to support Japanese exports.


(Reference)
Insured Citibank, N.A. Tokyo Branch, Mizuho Bank, Ltd.
Tenor Approximately 13 years
Covered risks Political risk 100%, Credit risk 95%

Contact:Infrastructure Group, Structured and Trade Finance Insurance Department
Tel: +81-(0)3-3512-7674


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