Hapag-Lloyd invests $4 billion in the acquisition of 24 container ships
1 week ago
Hapag-Lloyd invests $4 billion in the acquisition of 24 container ships
Hapag-Lloyd, the German container shipping giant, has placed an order for 24 new LNG dual-fuel, ammonia-ready container ships at two Chinese shipyards, marking a $4 billion investment. Despite concerns about potential overcapacity in the container shipping sector, shipping lines and owners continue to secure new vessels, driven by the need to future-proof their fleets with alternative fuels and replace older, less efficient ships.
The company has signed contracts for twelve 16,800 TEU vessels with Yangzijiang Shipbuilding and another twelve 9,000 TEU vessels with New Times Shipbuilding. These newbuilds will replace aging vessels nearing the end of their service lives.
“This investment is one of the largest in recent Hapag-Lloyd history, representing a key milestone in our Strategy 2030, focused on fleet modernization, decarbonization, and growth,” said Rolf Habben Jansen, CEO of Hapag-Lloyd. “Operating more efficient vessels will strengthen our competitive position, and with the added capacity, we will continue to provide our customers with a global, high-quality service.”
The new vessels, set for delivery between 2027 and 2029, will be equipped with high-pressure liquefied gas dual-fuel engines that can operate on both LNG and biomethane, enabling a 95% reduction in CO2 emissions compared to conventional engines. The ships will also be ammonia-ready.
Hapag-Lloyd is positioning itself for a multi-fuel future, having also announced plans to retrofit five of its existing vessels to run on methanol. In addition, the company is receiving twelve 23,660 TEU dual-fuel container ships, with the latest, the Hamburg Express, being christened earlier this week.
Hapag-Lloyd’s fleet now includes 287 vessels, with a combined capacity of 2.2 million TEU.
Other recent orders in the container shipping sector include Pacific International Lines (PIL), which has contracted five 9,000 TEU LNG dual-fuel ships from Hudong-Zhonghua, and Cosco Shipping, which ordered six 13,600 TEU vessels from the same shipyard last month.
Source: Seatrade Maritime