Seaspan granted $1bn credit facility by China Exim Bank

Seaspan granted $1bn credit facility by China Exim Bank

Seaspan Corporation has signed a framework cooperation agreement with the China Exim Bank for up to $1bn in export credit facilities.

The credit facilities support Seaspan’s purchase of vessels from Chinese shipyards within the next three years.

“With the signing of this framework cooperation agreement, we expect to be able to enhance our financial flexibility and increase our access to growth capital. Consistent with our disciplined strategy, we intend to continue to pursue attractive opportunities to grow our fleet and contracted revenue stream, which currently exceeds $6bn,” said Gerry Wang, chief executive officer of Seaspan.

The credit facilities are subject to approvals by CEXIM, customary closing conditions and the execution of definitive documentation.

Jason Jiang

Jason is one of the most prolific writers on the diverse China shipping & logistics industry and his access to the major maritime players with business in China has proved an invaluable source of exclusives. Having been working at Asia Shipping Media since inception, Jason is the chief correspondent of Splash and associate editor of Maritime CEO magazine. Previously he had written for a host of titles including Supply Chain Asia, Cargo Facts and Air Cargo Week.

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