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China Eximbank provides $260 million preferential buyer’s credit for acquisition of ten 35,000-ton portable bulk carriers
| Funder | Export-Import Bank of China (China Eximbank) |
|---|---|
| Recipient Organization | Government of Cuba |
| Country | Cuba |
| Start Date | Sep 02, 2009 |
| End Date | Nov 10, 2026 |
| Duration | 6,278 days |
| Number of Grantees | 1 |
| Roles | Recipient |
| Data Source | AidData Chinese Aid |
| Grant ID | 54874 |
Grant Description
China Eximbank provides $260 million preferential buyer’s credit for acquisition of ten 35,000-ton portable bulk carriers On September 2, 2009, China Eximbank and the Government of Cuba signed a $260 million preferential buyer’s credit (PBC) loan agreement for the acquisition of ten 35,000-ton portable bulk carriers (equipped with modern technology).
The borrowing terms of the PBC (loan) are unknown. The purpose of this acquisition is for Cuba to recover and renew its merchant navy capacities. China National Machinery Import and Export Corporation (CMC) was the contractor responsible for project implementation.
The carriers were ordered by the Cuba firm Empresa Importadora General del Transporte (EIGT) on behalf of Grupo Acemex and CMC in September 2009.
Empresa Importadora General del Transporte (EIGT) ordered Shanghai Shipyard to construct the ten carriers in a three-year project, then which got extended by an additional year. On November 30, 2012, the fourth bulk carrier was delivered. On April 26, 2013, the sixth bulk carrier was delivered.
On September 6, 2013, the last of 10 bulk carriers ordered by Empresa Importadora General del Transporte (EIGT) was delivered from Shanghai Shipyard.
Staff Comments
- The Chinese project title is 向古巴出口 10 艘 35000 吨灵便型散货船项目.
- Some sources refer to the carriers that were purchased as 'grain ships'.
Sources & References
- China delivered the sixth bulk carrier it built to Cuba
- Entrega China a Cuba el último de diez barcos graneleros
- Cuba-China Relations
- Shanghai Shipyard delivers tenth bulk cargo vessel to Cuba
- Cuba dispone de diez nuevos “bulkcarriers” construidos en China
- 中国向古巴交付第十条散货船
- Shanghai shipyard delivers bulk cargo ship
- 古巴船舶公司在中国订购8艘油轮
- Acemex拟在中国船厂订8油船
- Destaca Wu Bangguo lucha de Cuba contra la política de fuerza de EE.UU.
- 打造“走出去”战略的亮丽名片
- Entrega China cuarto buque para flota cubana mercante Loan applications and disbursements are still being received and processed as the projects continue to evolve. Ongoing monitoring and evaluation are in place to ensure project continuity.
All Grantees
Government of Cuba
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