Japanese crane manufacturer Mitsui E&S Co. has signed a Memorandum of Understanding (MoU) with Turkish terminal operator Yilport Holding A.Ş. and Japan Bank for International Cooperation (JBIC).

The agreement aims to support Yilport’s global container terminal expansion. Under the deal, Mitsui E&S will supply container cranes, leveraging its established relationship with Yilport, while Yilport, will benefit from financial backing provided by JBIC.

“The MOU is intended to facilitate further discussion to enhance Yilport’s container terminal business hereafter by procuring container cranes to be manufactured by MITSUI E&S and by making extensive use of the financial supports to be provided by JBIC, amid Yilport’s continued efforts to develop their worldwide business including Central/South America as well as Africa, as one of the largest Global Terminal Operators,” Mitsui said.

As reported by WCN, Yilport Holding plans to invest US$ 1.62 billion to expand and jointly operate two Salvadoran ports, as part of President Bukele’s economic revitalisation plan.

Read also: YILPORT Puerto Bolívar inaugurates Berth 6 and a new container yard in Ecuador

The MoU builds on the parties’ 2015 agreement when the Japan Bank for International Cooperation provided Yilport with a buyer’s credit loan for cranes supplied to Gebze Port. Mitsui E&S, which first supplied container cranes to Gebze Port in Turkey in 2007, has since delivered a total of 93 cranes to five of Yilport’s terminals worldwide, including locations in Turkey (Gebze and Gemlik Ports), Sweden, Portugal, and Ecuador.

In August, Mitsui said that its subsidiary company in the United States, PACECO Corp, together with its partner Brookfield, are on track to comply with the Build America, Buy America Act (BABA), a requirement for utilising federal funds, by adopting 55% of the cost of crane components be US-made and final assembly of the cranes in the United States.  This follows the announcement on February 21, 2024, the U.S. government will invest in cyber countermeasures for the Maritime Transport System (MTS) to strengthen the resilience of port cranes against cyber risks.

“In order to maintain the high quality of the product as well as to achieve short delivery and BABA compliance in response to the expected demand from the United States, MITSUI E&S is planning to have own transportation vessel for the port cranes,” the company said.

Japanese crane manufacturer Mitsui E&S Co. has signed a Memorandum of Understanding (MoU) with Turkish terminal operator Yilport Holding A.Ş. and Japan Bank for International Cooperation (JBIC).

The agreement aims to support Yilport’s global container terminal expansion. Under the deal, Mitsui E&S will supply container cranes, leveraging its established relationship with Yilport, while Yilport, will benefit from financial backing provided by JBIC.

“The MOU is intended to facilitate further discussion to enhance Yilport’s container terminal business hereafter by procuring container cranes to be manufactured by MITSUI E&S and by making extensive use of the financial supports to be provided by JBIC, amid Yilport’s continued efforts to develop their worldwide business including Central/South America as well as Africa, as one of the largest Global Terminal Operators,” Mitsui said.

As reported by WCN, Yilport Holding plans to invest US$ 1.62 billion to expand and jointly operate two Salvadoran ports, as part of President Bukele’s economic revitalisation plan.

Read also: YILPORT Puerto Bolívar inaugurates Berth 6 and a new container yard in Ecuador

The MoU builds on the parties’ 2015 agreement when the Japan Bank for International Cooperation provided Yilport with a buyer’s credit loan for cranes supplied to Gebze Port. Mitsui E&S, which first supplied container cranes to Gebze Port in Turkey in 2007, has since delivered a total of 93 cranes to five of Yilport’s terminals worldwide, including locations in Turkey (Gebze and Gemlik Ports), Sweden, Portugal, and Ecuador.

In August, Mitsui said that its subsidiary company in the United States, PACECO Corp, together with its partner Brookfield, are on track to comply with the Build America, Buy America Act (BABA), a requirement for utilising federal funds, by adopting 55% of the cost of crane components be US-made and final assembly of the cranes in the United States.  This follows the announcement on February 21, 2024, the U.S. government will invest in cyber countermeasures for the Maritime Transport System (MTS) to strengthen the resilience of port cranes against cyber risks.

“In order to maintain the high quality of the product as well as to achieve short delivery and BABA compliance in response to the expected demand from the United States, MITSUI E&S is planning to have own transportation vessel for the port cranes,” the company said.