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Hapag-Lloyd has announced today (4 February) that it is has ‘fully secured’ the $4 billion financing for the 24 new LNG dual-fuel, ammonia-ready container ships it ordered from two Chinese shipyards in October.

As previously reported, Yangzijiang Shipbuilding Group and New Times Shipbuilding Company Ltd. will each build 12 ships.

Hapag-Lloyd will take delivery of the new vessels – which will each have a capacity of 9,200 TEU (twenty-foot equivalent units) – between 2027 and 2029. 

In today’s statement, Hapag-Lloyd said that the financing for the vessels consists of four components. Around $900 million of the purchase price will be financed using the company’s own funds. A total of $500 million will be made available from two banks in the form of bilateral mortgage loans. In addition to this, $1.8 billion will be financed via three leasing structures, and $1.1 billion will be financed via a syndicated credit facility backed by the China Export & Credit Insurance Corporation (Sinosure).

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

‘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, CFO/CPO of Hapag-Lloyd AG.

‘The successful conclusion of several attractive financial transactions confirms that green financing components are becoming increasingly important. In addition, we are pleased to be able to finance newbuild projects in China for the first time with the Sinosure transaction.’

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