$50,000,000 To Help Ship Building Companies Sell Overseas

The Ex-Im bank offers a variety of finance programs to assist U.S. manufacturers in the sale of transportation equipment to foreign buyers. Ex-Im Bank has established terms and conditions guided by the OECD to support all types of ships. Ships are defined as self-propelled sea-going vessels of more than 1000 gross tons. Barges, for example, are not self-propelled, and therefore do not qualify as ships. For government-owned or controlled ships, Ex-Im may also require the additional security provided by a mortgage over the ship. The U.S. government can also support the export of ships and the maritime industry through its programs offered by the Overseas Private Investment Corp. (OPIC) and the Maritime Administration (MARAD). Current interest rates can be viewed at the following website: {http://www.exim.gov/country/cntcirrc.html}. Contact Export-Import Bank of the United States (EXIM), Wayne Gardella, Manager, 811 Vermont Ave., N.W., Washington, DC 20571; 800-565-3976 x3787; Fax: 202-565-3380; {bdd@exim.gov}; {http://www.exim.gov/ebd-m-51.html}.