The financing complies with the Green Loan Principles set by the Loan Market Association and covers orders for 12 ultra-large containerships of 16,800 TEU from Yangzijiang Shipbuilding in China and 12 mid-sized boxships of 9,200 TEU from New Times Shipbuilding.
Each of the larger ships is estimated to cost $210 million, while the mid-sized vessels are priced at approximately $124 million each. All vessels will feature LNG dual-fuel technology, allowing them to operate with biomethane. The ships are also designed to be ammonia-ready for future fuel adaptation. The delivery schedule spans from 2027 to 2029.
The financing plan consists of four components. Hapag-Lloyd is contributing $900 million from its own funds, while $500 million will come from bilateral mortgage loans provided by two undisclosed banks. An additional $1.8 billion is being secured through three separate leasing structures, and the remaining $1.1 billion is financed via a syndicated credit facility backed by China Export & Credit Insurance Corporation (Sinosure).
Mark Frese, Hapag-Lloyd’s Chief Financial Officer, stated, "The successful conclusion of several attractive financial transactions confirms that green financing components are becoming increasingly important."
This financing aligns with Hapag-Lloyd’s updated Green Financing Framework, which focuses on investing in efficient vessel technology, testing alternative fuels such as biofuel, and deploying digital solutions to optimize fleet operations.
Hapag-Lloyd has set a goal to achieve a climate-neutral fleet by 2045, ahead of the International Maritime Organization’s (IMO) 2050 target. The company aims to reduce the carbon intensity of its owned vessels by 30% by 2030 as part of its interim sustainability objectives.