Under the proposed scheme, the South Korean state bank will contribute 25% of the fund while institutional investors such as pension funds or insurance companies will chip in the remaining 75% to purchase a ship for lease to shipping companies, the Korea Economic Daily reported.
Kexim has prepared the plan and will begin the scheme by November this year.
The eco-ship fund is expected to financially help the shipping companies as the risk goes principally to the investors. Kexim will provide guarantees to the shipping companies.
“The scheme will benefit mid-sized shippers like Sinokor Marchant Marine and Polaris Shipping as well as large ones such as Hanjin Shipping and Hyundai Merchant Marine,” a Kexim official was quoted as saying.
“Given most new ship orders commissioned by domestic shipping companies go to mid-sized shipbuilders, it would also impact the shipbuilding industry positively.”
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