Qingdao Beihai Shipbuilding Heavy Industry

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China-Taiwan ship finance deal funds Foremost newbuilds

The Beijing office of China’s Export Import Bank and the New York Office of Taiwan’s First Commercial Bank will each provide $37.5 million loan facilities to support construction of the two 180,000 bulk carriers which are being built by the Qingdao Beihai Shipbuilding Heavy Industry subsidiary of state-owned China Shipbuilding Industry Corporation (CSIC).

Among those present for the signing was former U.S. Secretary of Labor Elaine L. Chao, whose public service career has also included being Chairman of the Federal Maritime Commission and Deputy U.S. Maritime Administrator. Her husband is Senate Majority Leader Mitch McConnell.