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China Exim Bank holds meeting to discuss ship financing

China Exim Bank holds meeting to discuss ship financing
The Export-Import Bank of China (China Exim Bank) has organised an internal meeting last Friday to discuss and strategise on ship financing matters, reports said.

China Exim Bank gathered its executives from 17 branches and representatives from 10 relevant divisions to participate in the meeting.

Sun Ping, vice president of China Exim Bank, led the discussions, touching on the difficulties that China’s shipping and shipbuilding sectors are facing.

The meeting affirmed that there is a need to implement sound strategies to guide the shipping and shipbuilding sectors out of the current downturn.

Shipping companies globally are challenged by prolonged low freight rates and an oversupply of vessel tonnage, while shipbuilders are troubled by yard overcapacity, rising business cost and thin margins.

For this year, China Exim Bank is already expecting to commit shipping loans that would only be slightly higher than the amount recorded in 2014 in view of the decreased in newbuilding orders at Chinese shipyards.

Li Xiang, deputy director, transport finance department at China Exim Bank, told Seatrade Global earlier that the bank committed $15.8bn to its ship financing portfolio in 2014, and this year’s figures would be “a bit higher”.

China Exim Bank has also said on several occasions that it would prioritise their lendings to higher technology, higher value assets such as LNG vessels, offshore vessels, large containerships and eco-ships.

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