EX-IM BANK KEEPS CHUGGING 2016
Conference Session Wednesday, Sept. 28, 11:30 a.m. – 12:20 p.m.
US Ex-Im – Capital Projects in the Balance » MODERATOR:
The Honorable Capt. William Schubert President International Trade & Transportation, Inc.
» Will Terrill VP US Ocean and General Counsel Intermarine » John Masterson Global Export Credit Agency Finance Director, Financial Derivatives CB&I
Export Credit Agency Survives So U.S. Projects Can Too
Listen to a full interview with Capt. Schubert at breakbulk.com/americas, in the conference agenda.
without authorization for the first time he U.S. Export-Import Bank in its 81-year history. has been the little economic However, Congress voted to reaudevelopment engine that could. thorize the bank in late 2015, as part of a Until it couldn’t. massive transportation bill. U.S. exports who couldn’t think of The Ex-Im Bank is an independent surviving without the export credit federal agency that bridges the gap in agency of the U.S. government were forced to face that reality when Congress private export finance, helping U.S. exporters make failed to re-authorize overseas sales and the 81-year-old Ex-Im supporting U.S. jobs. Bank in mid-2015. Despite U.S. exporters say its Right wing reauthorization, trade financing soluopponents of the tions – export credit bank have claimed Ex-Im continues to insurance, working that its financing is suffer from political capital guarantees, effectively corpoand commercial rate welfare which shenanigans. loan guarantees for amounts to governforeign buyers – are ment interference necessary for them in the free market to compete globally. In providing these despite support from some of the countools, the bank says it levels the playing try’s largest manufacturers such as General Electric, Caterpillar and Boeing. field for U.S. exporters of all sizes who are facing foreign competition. The GOP-led decision to allow Ex-Im In 2014 it authorized about US$20 Bank’s charter to expire June 30, left it
ExxonMobil • Exterran • Fluor • FMC Technologies • GE • Halliburton • Holland AM6 BREAKBULK AMERICAS PREVIEW www.breakbulk.com/americas
ISSUE 3 / 2016