• ITVI.USA
    16,014.360
    14.660
    0.1%
  • OTLT.USA
    2.799
    -0.006
    -0.2%
  • OTRI.USA
    22.430
    0.240
    1.1%
  • OTVI.USA
    15,995.600
    10.280
    0.1%
  • TSTOPVRPM.ATLPHL
    2.930
    -0.020
    -0.7%
  • TSTOPVRPM.CHIATL
    3.620
    0.010
    0.3%
  • TSTOPVRPM.DALLAX
    1.330
    -0.040
    -2.9%
  • TSTOPVRPM.LAXDAL
    3.570
    0.020
    0.6%
  • TSTOPVRPM.PHLCHI
    2.390
    0.070
    3%
  • TSTOPVRPM.LAXSEA
    4.130
    0.020
    0.5%
  • WAIT.USA
    127.000
    0.000
    0%
  • ITVI.USA
    16,014.360
    14.660
    0.1%
  • OTLT.USA
    2.799
    -0.006
    -0.2%
  • OTRI.USA
    22.430
    0.240
    1.1%
  • OTVI.USA
    15,995.600
    10.280
    0.1%
  • TSTOPVRPM.ATLPHL
    2.930
    -0.020
    -0.7%
  • TSTOPVRPM.CHIATL
    3.620
    0.010
    0.3%
  • TSTOPVRPM.DALLAX
    1.330
    -0.040
    -2.9%
  • TSTOPVRPM.LAXDAL
    3.570
    0.020
    0.6%
  • TSTOPVRPM.PHLCHI
    2.390
    0.070
    3%
  • TSTOPVRPM.LAXSEA
    4.130
    0.020
    0.5%
  • WAIT.USA
    127.000
    0.000
    0%
American Shipper

U.S. equipment shippers get Ex-Im loan

U.S. equipment shippers get Ex-Im loan

   U.S. manufacturers and suppliers are selling locomotives and mining equipment to Iron Ore Co. of Canada (IOC), backed by $54.4 million in loan guarantees from the U.S. Export-Import Bank.

   Electro-Motive Diesel of La Grange, Ill., and its U.S. suppliers will provide seven locomotives to IOC’s rail subsidiary Quebec North Shore and Labrador Railway Co. A $10.03 million Ex-Im Bank loan guarantee is supporting the sale. It is the bank’s first financing for IOC.

   In addition, IOC will buy electric shovels, off-road trucks, bulldozers and other mining equipment from various U.S.-based manufacturers, including Komatsu America Corp. and Caterpillar, both of Peoria, Ill.; and Harnischfeger Corp. in Milwaukee. The sale is backed by a $44.4 million Ex-Im Bank loan guarantee.

   “IOC is more likely to continue to buy U.S.-manufactured equipment, even during economic downturns, if it knows that Ex-Im Bank financing is a viable alternative when other sources of long-term financing are limited or unavailable,” said Fred P. Hochberg, the bank’s chairman and president, in a statement on Thursday.

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