Hapag-Lloyd Places $5.25bn Orders with Chinese Shipyards

Hapag-Lloyd has chosen two Chinese shipyards for its latest fleet expansion, an order valued at $5.25 billion if all options are utilized, marking one of the largest containership deals in history.

According to Intermodal, the German shipping giant has placed an order with Yangzijiang Shipbuilding for 10 confirmed 17,000 TEU LNG dual-fuel vessels, with an additional option for five more. Each vessel will cost around $210 million and feature 1,600 reefer slots.

Additionally, Hapag-Lloyd has entered a contract with New Times Shipbuilding for 10 firm 9,200 TEU ships, also with an option for five more. These ships, also powered by LNG dual fuel, will be priced at $140 million each.

With a combined capacity of 393,000 TEU, these new orders will solidify Hapag-Lloyd's standing as the fifth-largest container shipping company globally.

This expansion follows the company’s recent announcement to exit THE Alliance in favor of forming the Gemini Cooperation with Maersk, a significant strategic shift set to take place within the next four months.

In April, Hapag-Lloyd revealed its ambitious business roadmap through 2030, with CEO Rolf Habben Jensen describing it as the company’s “most ambitious strategy to date,” focusing on aggressive fleet growth.