Hapag-Lloyd is breaking new ground in financing, by concluding two debut transactions according to the Green Loan Principles of the Loan Market Association.
Germany s Hapag-Lloyd Secures Green Funds for LNG Containerships
Feb 9, 2021 7:05:am
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by: Joe Murphy
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Germany s Hapag-Lloyd Secures Green Funds for LNG Containerships
German shipping line Hapag-Lloyd has secured $890mn in green financing for the construction of six LNG-fuelled containerships, it reported on February 8.
Hapag-Lloyd placed a $1bn order for the six dual-fuel vessels at South Korea s Daewoo Shipbuilding & Marine Engineering yard in December. It has now secured a $417mn syndicated loan from 11 banks with a 12-year maturity to cover the cost of three of the ships. The facility is backed by Korea Trade Insurance Corp, while KfW IPEX-Bank and BNP Paribas oversaw its structuring.