Hapag-Lloyd locks in $4B green funding for 24 new container ships, aiming to cut emissions by a third by 2030.
Hapag-Lloyd has announced the completion of a milestone green financing package valued at around USD 4 billion to fund the construction of 24 new container vessels. Boasting a combined capacity of 312,000 TEU, these ships are slated for delivery between 2027 and 2029. The move solidifies Hapag-Lloyd’s commitment to aligning its operations with the 1.5-degree target set by the Paris Agreement, reinforcing the company’s dedication to decarbonizing its fleet in the coming decades.
The financing comprises four distinct components. Approximately USD 900 million will be drawn from Hapag-Lloyd’s own funds. An additional USD 500 million in bilateral mortgage loans has been secured from two banks. Three separate leasing structures account for another USD 1.8 billion, while a syndicated credit facility backed by the China Export & Credit Insurance Corporation (Sinosure) contributes USD 1.1 billion. In total, roughly 80% of the investment volume is covered, with maturities ranging from 10 to 18 years.
All financing elements fall under Hapag-Lloyd’s updated Green Financing Framework, which has been externally verified by DNV to meet the Loan Market Association’s Green Loan Principles. DNV also confirmed that the new vessels align with European Union Taxonomy criteria in terms of efficiency and sustainability standards.
“We are continuously modernizing our fleet in order to deliver high-quality service and to achieve our ambitious decarbonization goals,” said Mark Frese, CFO/CPO of Hapag-Lloyd AG. “The successful completion of multiple attractive financing transactions underscores the growing importance of green financing. We are also pleased to leverage a Sinosure-backed structure in China for the first time to finance newbuild projects.”
Hapag-Lloyd aims to reduce its absolute greenhouse gas emissions by one-third compared to 2022 levels by 2030, moving a step closer to achieving net-zero fleet operation by 2045. Each of the 24 new ships will be equipped with state-of-the-art, low-emission and fuel-efficient high-pressure dual-fuel liquefied gas engines. Moreover, they can run on biomethane, potentially cutting CO2e emissions by up to 95% versus conventional propulsion systems. They will also be ammonia-ready, offering flexibility for future alternative fuels.
This bold investment represents a significant leap forward in global maritime decarbonization efforts. By securing long-term financing through various green channels, Hapag-Lloyd is not only demonstrating corporate responsibility but also setting an example for the industry at large. As regulations around emissions continue to tighten and customer demand for sustainable shipping solutions grows, the company’s proactive approach positions it at the forefront of eco-friendly seaborne trade.
