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

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.

Jason Jiang

Jason is one of the most prolific writers on the diverse China shipping & logistics industry and his access to the major maritime players with business in China has proved an invaluable source of exclusives. Having been working at Asia Shipping Media since inception, Jason is the chief correspondent of Splash and associate editor of Maritime CEO magazine. Previously he had written for a host of titles including Supply Chain Asia, Cargo Facts and Air Cargo Week.
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