Japan Bank Funds Turkish Newbuild

8 March 2010 (Last Updated March 8th, 2010 18:30)

The Japan Bank for International Cooperation (JBIC) has funded a newbuild order from Turkey's Yasa to be built at Mitsui Shipbuilding & Engineering, Japan. The loan is part of a JPY10bn ($109m) credit facility between JBIC and Turkey to support newbuild investments in Japan.

The Japan Bank for International Cooperation (JBIC) has funded a newbuild order from Turkey’s Yasa to be built at Mitsui Shipbuilding & Engineering, Japan.

The loan is part of a JPY10bn ($109m) credit facility between JBIC and Turkey to support newbuild investments in Japan.

In South Korea, total government credit to the shipbuilding industry has increased by 40% this year to KRW6.28tn ($5.4bn), according to asiasis.com.

Korea’s Export Import bank is planning to increase loans to yards from KRW1.84tn ($1.6bn) to KRW3.1tn ($2.7bn) while Export-Import Bank of China recently finalised loans worth $600m.