China Eximbank fully supports Chinese shipyards to stabilize production and guarantee orders

"The more special the period is, the more efforts should be made to protect the order". After learning that China Shipbuilding Trading urgently needs to issue a letter of guarantee for the ship owner, the Export-Import Bank of China overcame many difficulties and issued a letter of guarantee for the enterprise in time to ensure that the shipbuilding contract came into effect on time and help the Chinese shipyard keep the important order.
 
Before the Spring Festival, China Shipbuilding Trading and Japanese shipowner K-Line signed two contracts for the construction of two river-sea combined LNG carriers with a value of more than 240 million U.S. dollars. In order to ensure the effectiveness of the contract, the advance payment guarantee must be issued to the owner within the specified period. The sudden outbreak of novel coronavirus pneumonia has disrupted the original work plan of China Shipbuilding Trading,and the issuance of guarantees became more urgent. After learning about the project situation and customer concerns, the Export-Import Bank of China overcome the inconvenience of online working, and quickly complete the entire credit granting process. The guarantee was issued one week earlier than the customer requested.
 
China Shipbuilding Trading sent a special thank-you letter to this end, saying that "the help of the Export-Import Bank of China has laid the foundation for the effectiveness of the contract and our receipt of the effective payment in advance. At the same time, it indirectly proved to the shipowner the ability of CSSC and shipyard to cope with the epidemic! "
 
Since the outbreak of the epidemic, the Export-Import Bank of China has introduced different credit policies, reduced loan interest rates for some enterprises in February, and increased credit support for enterprises, etc., so as to help enterprises overcome the difficult period and contribute to the realization of this year's economic and social development goals.
 
Source:Sarah Yu,XINDE MARINE NEWS

The opinions expressed herein are the author's and not necessarily those of The Xinde Marine News.