Hapag-Lloyd achieves financial close for 24-vessel order: Hapag-Lloyd has finalized its long-term green financing for an order of 24 new large container ships the company placed back in October 2024, with a total investment of USD 4 bn and a combined capacity of 312K TEU, according to a press release (pdf). The vessels — being built by China’s Yangzijiang Shipbuilding and New Times Shipbuilding Company Ltd — are slated for delivery between 2027 and 2029.

The financing breakdown:

  • USD 900 will come from Hapag-Lloyd’s own funds;
  • USD 500 mn will come from bilateral mortgage loans from two unidentified banks;
  • USD 1.8 bn will be funneled through three leasing schemes;
  • And USD 1.1 bn through a syndicated credit facility with the backing of the China Export & Credit Ins. Corporation (Sinosure).

More on the ships: The 24 ships will be equipped with dual-fuel engines that boast low-emission and fuel efficiency, the statement adds. The vessels are designed to be adaptable for ammonia use and can be operated with biomethane to help reduce CO2 emissions by up to 95% compared to traditional propulsion levels.

UK gov’t seeks counsel as it mulls pulling the plug on USD 1.15 bn LNG venture in Mozambique: The UK administration is soliciting counsel as it considers walking back a USD 1.15 bn commitment to TotalEnergies’ troubled LNG venture in Mozambique, Financial Times reports, citing two people familiar with the matter. The planned withdrawal is due to political instability and disputed elections in Mozambique, as well as a string of terrorist attacks in the province where TotalEnergies intended to establish the LNG facility.

The promise: Government agency UK Export Finance has pledged credit facilities to companies and banks backing the USD 20 bn Mozambique-based LNG project in June 2020.

Tags: