Beijing: The state’s willingness to support its ailing shipbuilding industry has been shown once again by news from Xinhua that the Export-Import Bank of China (EximBank) will lend $1.2bn to German owners Peter Dohle and Bernhard Schulte.
The EximBank loan deal was signed during Chinese President Xi Jinping’s state visit to Germany on Friday.
Both owners will build in China. Finance for foreign owners has been made readily available by Beijing for the last four years for those willing to build in China and keep the nation’s bloated shipyard scene afloat. [31/03/14]