Germany’s Hapag-Lloyd has lined up financing for its 24-ship newbuilding spree signed off last year.
The Hamburg-based global carrier said the financing consists of four parts. Around $900 will be financed using the company’s own funds, $500m using bilateral mortgage loans from two banks, $1.8bn will be financed via three leasing structures, and $1.1bn through a syndicated credit facility backed by the China Export & Credit Insurance Corporation (Sinosure).
The 24 ships ordered last October for delivery between 2027 and 2029 will be built in China at Yangzijiang Shipbuilding and New Times Shipyard and equipped with the latest low-emission and fuel-efficient high-pressure LNG dual-fuel engines. The vessels can also be operated using biomethane and will be ammonia-ready.
The financing will be carried out based on Hapag-Lloyd’s Green Financing Framework, which in turn complies with the standards of the Green Loan Principles of the Loan Market Association (LMA).
The green financing covers around 80% of the investment volume, with maturities ranging between 10 and 18 years, the company said.
Once delivered, the ships will add about 312,000 teu of new capacity to the world’s fifth-largest liner.
“We are continuously modernising our fleet in order to deliver a high quality of service and to achieve our ambitious decarbonization goals,” said Mark Frese, chief of finance at Hapag-Lloyd., adding: “The successful conclusion of several attractive financial transactions confirms that green financing components are becoming increasingly important.”
