China Exim Bank has inked an export buyer's credit guarantee agreement with UK investment company BCAP to provide US$690 million funding for 10 container ships to be built for MSC, according to IHS Maritime 360.
The ships are to be built by Jinhai Heavy Industry.
The box ships, all over 10,000 TEU, will be leased to MSC on delivery.
A bank representative said the deal attracts international ship-owners to place orders for high-end ships at Chinese yards, as well as the financial support that will be given to shipyards.
MSC’s 2M partner has recently inked a contract with Hyundai Heavy Industries for the purchase of 17 14,000 TEU ships, all potentially for delivery in 2017.
The largest ship order to date came from shipping line OOCL who purchased six 21,150 TEU containerships, which reflects the intense competition between alliances who are ordering fast to expand their fleets.