Hapag-Lloyd orders more mega-carriers

Hamburg-based shipping group Hapag-Lloyd said it has placed an order with South Korean yard Daewoo Shipbuilding & Marine Engineering to build six container ships all of over 23,500 TEU. Daewoo Shipbuilding separately stated it has won a US$1 billion contract to build six container ships from an unnamed European customer.

Hapag-Lloyd added it had taken out loans of US$852 million for the contract. Hapag-Lloyd had already placed an order for six ships of the same size at the end of 2020. So its fleet will be expanded by 12 container ships of over 23,500 TEU.

The large ships now ordered will be fitted with a high-pressure dual-fuel engine that will be extremely fuel-efficient. Their engine will operate on LNG, but the vessels will also have sufficient tank capacity to operate on conventional fuel as an alternative. Hapag-Lloyd is focusing on liquefied natural gas as a medium-term solution as it reduces carbon dioxide emissions by around 15% to 25% and emissions of sulphur dioxide and particulate matter by more than 90%.

The six additional ships have been financed via a syndicated green loan in the amount of US$852 million that has a maturity of 12 years from the date of delivery. The transaction was concluded in accordance with the Green Loan Principles of the Loan Market Association (LMA) while also being verified by an independent expert in the form of a secondary party opinion of the DNV. The credit facility is being backed by the Korea Trade Insurance Corporation (K-SURE), and the syndicate consists of 10 banks.

Shipbuilding
Article Editorial staff Ship&Offshore
Article Editorial staff Ship&Offshore