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Hapag-Lloyd said on Tuesday that the financing will be carried out on the basis of its “green financing framework” for the order placed in October last year.
Yangzijiang Shipbuilding will build 12 vessels each with a capacity of 16,800 teu, while New Times Shipbuilding will build 12 ships each with a capacity of 9,200 teu.
The German firms said the financing consists of four components with around $900 million of the purchase price being financed using the company’s funds.
Moreover, a total of $500 million will be made available from two banks in the form of bilateral mortgage loans.
Another part for $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 said the financing share amounts to a total of around 80 percent of the investment volume, with maturities ranging between 10 and 18 years.
These new vessels will replace older units in the Hapag-Lloyd fleet that will be nearing the end of their service life in this decade.
All of the newbuildings will be equipped with high-pressure LNG dual-fuel engines.
These new vessels add to a fleet of LNG dual-fuel ships.
In August last year, the shipping firm took delivery of its seventh of 12 ultra-large LNG-fueled containerships from South Korea’s Hanwha Ocean.
These giant vessels are about 400 meters long and 61 meters wide.
Hapag-Lloyd first ordered six LNG dual-fuel containerships from Hanwha Ocean in 2020, while it added six more sister vessels in 2021. The orders are worth about $2 billion.
Hapag-Lloyd expects to take delivery of the remaining vessels in 2025.
In addition to newbuild vessels, Hapag-Lloyd operates the converted containership Brussels Express, the world’s first ultra-large containership LNG retrofit.