Hapag-Lloyd Secures Green Financing for Six 23,500 TEU Newbuilds

Hapag-Lloyd says it has concluded its first ever green financing deals for six ultra-large containerships currently on order.

The two transactions include a syndicated green loan of $417 with a 12-year maturity million to finance three of the six 23,500 TEU-capacity containerships the company ordered in December 2020. A second loan for the lease financing for the remaining three newbuildings amounts to $472 million with a maturity of 17 years plus construction-phase financing.

Both were made according to the Green Loan Principles of the Loan Market Association (LMA) and independently verified by DNV GL.

“Our first green financings are a major milestone for us, as we are breaking new ground in the container shipping segment by financing newbuilding projects geared towards sustainability. The transactions will help us to modernise our fleet while further reducing our CO2 footprint at the same time,” said Mark Frese, Chief Financial Officer of Hapag-Lloyd.

The six newbuilds will be equipped with fuel-efficient, high-pressure dual-fuel engines helping to reduce CO2 emissions by approximately 15 to 25 percent, according to Hapag-Lloyd. The company said not only will the ships meet the requirements of the LMA’s Green Loan Principles, but they will also satisfy the EU Taxonomy’s technical screening criteria for sea and coastal freight water transport.

The six newbuilds were ordered from South Korea’s Daewoo Shipbuilding & Marine Engineering in December and are scheduled for delivery in 2023.

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