DNV verification facilitates green financing for Hapag-Lloyd – ShipInsight
DNV helped Hapag-Lloyd secure financing for six of its new, highly efficient container buildings in accordance with the Green Lending Principles of the Loan Market Association (LMA). DNV has verified that the transactions meet the requirements of the program.
Hapag-Lloyd completed two first transactions in accordance with the Loan Market Association (LMA) Green Lending Principles, and DNV provided a second party opinion to confirm compliance with the requirements as an independent expert. The transactions are associated with the financing of six ultra-large 23,500teu container ships, ordered in December 2020.
Thanks to the highly efficient high-pressure LNG bi-fuel engines, the six new vessels will have CO2 emissions that are approximately 15 to 25% lower than those of a comparable conventional fuel vessel. This means that in addition to the requirements of the LMA Green Lending Principles, vessels will also meet the technical review criteria of the EU taxonomy for maritime and coastal freight transport. The state-of-the-art vessels are under construction in South Korea and are expected to be delivered in 2023.
“Our first green finance is an important milestone for us as we innovate in the container transport segment by financing new construction projects with a focus on sustainability,” said Mark Frese, CFO of Hapag-Lloyd. “The transactions will help us modernize our fleet while further reducing our CO2 footprint. As well as benefiting from our constructive collaboration with DNV on this project, it was also very helpful – especially with regard to the formal requirements for the preparation of a secondary opinion and the technical specifications of the vessels.
“We were very pleased to have been invited by Hapag-Lloyd to offer our independent expertise to assess whether the vessels meet the criteria for the green loan,” said Shaun Walden, Project Director, Sustainability and ESG Services, DNV. “This is a revolutionary agreement that shows the industry can evolve towards greater sustainability along with improved business performance of the asset.”
“Based on their hydrodynamic optimization, highly efficient main and auxiliary engines and the use of LNG as the primary fuel, these vessels can meet all the required criteria,” said Jan-Henrik Hübner, Global Head of navigation consulting practice at DNV Maritime. “Additionally, with the ability to run on organic and synthetic LNG once these fuels become more widely available, they provide an example of how ships can reduce carbon intensity now, while still being ready to switch to. a low or zero carbon future.