Export-Import Bank of Korea to Provide $134.67 Million in Financing for HJ Heavy Industries' Container Ship Exports

The Export-Import Bank of Korea will provide ship financing totaling $134.67 million to support the export of two container ships built by HJ Heavy Industries, a Korean mid-sized shipbuilder.

The bank said on October 15 that it would provide the financing for two 8,850-TEU container ships that HJ Heavy Industries won orders to build from overseas shipowners. One TEU is equivalent to one 20-foot container. The ships will be built to “methanol-ready” specifications, meaning they are designed to be converted to methanol-fueled vessels in the future. They are scheduled for delivery in August and October 2027, respectively, and will then be deployed on global shipping routes.

The bank will provide part of the required funding through direct loans, while commercial banks will lend the remainder with the bank’s guarantees.

A bank official said, “As competition for orders from Chinese shipyards intensifies, it is necessary to give reputable overseas shipowners an incentive to place orders with mid-sized Korean shipbuilders. We will continue to actively support efforts to strengthen their competitiveness in securing orders through tailored policy financing.”

This content was produced with the assistance of AI translation services.