NO. 33


Financial and Banking News

Regional Financing

Japanese Eximbank To Fund 70% Of Saudi VLCC Order

Mitsubishi Heavy Industries is to receive a supplier's credit from the ExportImport Bank of Japan to cover 70% of the cost of building five VLCCs for SaudiArabia's National Shipping Company (NSC). NSC signed the $485mn order withMitsubishi on 7 May. The credit is believed to be for about eight years. NSC hadpreviously invited bids from international banks willing to...