ContainersEuropeFinance and Insurance

Hapag-Lloyd seals green financing for newbuild megamaxes

German line Hapag-Lloyd has sealed green financing for the six dual fuel 23,500 teu ultra large container vessels ordered last year at South Korea’s Daewoo Shipbuilding & Marine Engineering (DSME).

The vessels have been financed in two transactions, which have been worked according to the Green Loan Principles of the Loan Market Association (LMA) and verified by class society DNV GL.

Financing three of the ships, Hapag-Lloyd has sealed a $417m syndicated green loan backed by the Korea Trade Insurance Corporation (K-SURE), with the syndicate consisting of 11 banks led by KfW IPEX-Bank and BNP Paribas.

The other three newbuildings are being financed in a leasing structure with China’s ICBC for the amount of $472m.

Mark Frese, chief financial officer of Hapag-Lloyd, commented: “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.”

Hapag-Lloyd says the dual-fuel engines fitted to the vessels, scheduled for delivery in 2023, will reduce CO2 emissions by around 15% to 25%.

Grant Rowles

Grant spent nine years at Informa Group based in London, Sydney, Hong Kong and Singapore. He gained strong management experience in publishing, conferences and awards schemes in the shipping and legal areas, working on a number of titles including Lloyd's List. In 2009 Grant joined Seatrade responsible for the commercial development of Seatrade’s Asia products. In 2012, with Sam Chambers, he co-founded Asia Shipping Media.


  1. Soo … all the major container-carriers are now going for large series of some 22-23000 TEU capacity vessels. No doubt, – impressive vessels but there must be a catch waiting somewhere in the furture. As always in shipping – the owners are “over-contracting” in good times. Typically one leading owner (Maersk with their E-type some years back ?) opens up the ball and the rest have to (or feel they have to) “get on the train”. Assume these vessel are aimed at the routes from FE/China, but do we expect that world trade will/can go on increasing forever ? How much fast, cheap consumer-goods from China is the world going to get in the next years to come ? The over-consumption is already apparant and in many ways alarming more or less everywhere

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