Turkish company Yilport Holding has secured the debt-backed purchase of 18 Japanese container cranes.

The shipment, which will be fulfilled by Mitsui Engineering and Shipbuilding, is to cost the company JPY6bn (around US$58.7mn), which will come in the form of a loan from SMBC and JBIC, the Japanese export credit agency.

Yilport is a subsidiary of Yildrim, the Turkish non-ferrous metals, fertiliser and port-operating conglomerate. The cranes will be used in port terminals owned and managed by the group in Marmara, the Turkish logistical hub that connects Asia and Europe.

Nexi, the Japanese state-owned credit insurer, has issued coverage for JPY2.4bn of the total debt, supporting the commercial portion of SMBC. Nexi’s portion has a four-year tenor.

The agency also recently opened a reinsurance agreement with the commercial arm of Coface, which will see the pair co-operate on small-term credit insurance schemes. The pair will host joint-seminars overseas to promote the interests of Japanese companies.