Hapag-Lloyd in $4B, 24-ship ordering spree at two Chinese yards

Hapag-Lloyd has signed separate contracts with two Chinese shipyards for a total of 24 new containerships. All will be equipped with state-of-the-art low emission, high pressure LNG dual-fuel engines capable of operation on biomethane (bio LNG), which can reduce CO2e emissions by up to 95% compared to conventional propulsion systems. They will also be ammonia-ready.

Hapag-Lloyd says the newbuildings will have a combined capacity of 312,000 TEU and involve a combined investment volume of around $4 billion. A long-term financing of $3 billion has already been committed.

“This investment is one of the largest in the recent history of Hapag-Lloyd, and it represents a significant milestone for our company as it pursues the goals of its Strategy 2030, such as to grow while also modernizing and decarbonizing our fleet,” said Hapag-Lloyd CEO Rolf Habben Jansen. “Operating a fleet of more efficient vessels will also enhance our competitive position, and thanks to the increase in capacity, we will continue to offer our customers a global, high-quality product.”

Twelve ships, each with a capacity of 16,800 TEU, will be built by Yangzijiang Shipbuilding Group (YZG). These units will be used to expand the capacity of services that are already in place. The other 12 ships, each with a capacity of 9,200 TEU, have been ordered from New Times Shipbuilding Company Ltd. and will replace older units that will be nearing the end of their service life this decade.

Hapag-Lloyd will take delivery of the new vessels between 2027 and 2029.

Hapag-Lloyd says that it is fully committed to the 1.5°C target of the Paris Agreement. By 2030, the absolute greenhouse gas emissions of the company’s fleet operations are to be reduced by around one third compared to 2022 – in what will be another step toward net-zero fleet operation by 2045. The company says this will be achieved by investing in modern, efficient newbuildings, slow steaming, fleet modernization and the use of new propulsion technologies and alternative fuels, which will allow customers to benefit from multiple green transport options at the same time. Following a decision taken earlier this year to retrofit five vessels to methanol propulsion, says Hapag-Lloyd, this latest investment is another step in the companys efforts to prepare itself for a multifuel future and to drive the decarbonization of the liner shipping industry.

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