Hapag-Lloyd secures green financing for 24 newbuild boxships

^{Photo credit: Preben Olsen}

Germany’s container shipping firm Hapag-Lloyd will use green financings for the 24 large container ships, ordered in October 2024 and expected to be delivered between 2027 and 2029. The newbuildings will have a combined capacity of 312,000 TEU and involve a combined investment volume of around $4bn.

The 24 ships will be built in China and equipped with high-pressure liquefied gas dual-fuel engines. In addition, these vessels can be operated using biomethane and will also be ammonia ready.

According to the company’s statement, the financing consists of four components. Around $900m of the purchase price will be financed using the company’s own funds.

A total of $500m will be made available from two banks in the form of bilateral mortgage loans.

Another part, in the amount of $1.8bn, will be financed via three leasing structures, and $1.1bn will be financed via a syndicated credit facility backed by the China Export & Credit Insurance Corporation (Sinosure).

The financing share amounts to a total of around 80% of the investment volume, Hapag-Lloyd said, with maturities ranging between 10 and 18 years.

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