The Export-Import Bank of Korea (Kexim) will lend US$188mn to Swiss company Mediterranean Shipping Company (MSC) in a deal arranged by BNP Paribas.

Under the agreement, MSC will buy four container vessels from Korean company Daewoo Shipbuilding & Marine Engineering, the world’s third-biggest shipbuilder. This is the first loan commitment of Kexim to a Swiss shipping company.

In a separate deal, Kexim will lend US$135mn to Greece-based container shipping company Danaos Holding. The loan will help Danaos purchase two container ships from Korea-based Samsung Heavy Industries.