The Export-Import Bank of Korea and Busan Bank have provided American joint venture Container Carriers with $87m in ship finance. Container Carriers is owned by Monarch Alternative Capital and Capital Maritime. The loan is linked to two 9,440 teu ships that Container Carriers has ordered at Hyundai Samho for $174.38m.
Busan Bank is providing $10m of the loan and Eximbank the rest. It marks a debut for Busan Bank offering loans to international owners, part of bigger plans by Busan, South Korea’s largest port, to strengthen its position on the global ship finance scene.