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Hapag-Lloyd inks $500m financing agreement with Bank of Communications

Hapag-Lloyd inks $500m financing agreement with Bank of Communications

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German containerline Hapag-Lloyd has signed a strategic cooperation agreement with China’s Bank of Communications Financial Leasing (BOCOMFL).

Under the agreement, BOCOMFL will provide up to $500m in financing to support Hapag-Lloyd’s fleet expansion projects involving both newbuildings and secondhand purchases.

Hapag-Lloyd completed a merger with UASC in May and the first UASC services will be transferred to Hapag-Lloyd from mid-July with the rest following soon after.

According to Aphaliner, Hapag-Lloyd currently operates a fleet of 217 vessels with total capacity of 1.505m teu, ranked the fifth in the world.

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Jason Jiang

Jason worked for a number of logistics firms following his English degree, then switched this hands-on experience to writing and has since become one the most prolific writers on the diverse China logistics industry writing for a host of titles including Supply Chain Asia, Cargo Facts and Air Cargo Week. Jason’s access to the biggest shippers with business in China has proved an invaluable source of exclusives.

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