Overview

ICBC Leasing loans $472 million to Hapag-Lloyd for leasing of three new containerships

Commitments (Constant USD, 2023)$435,250,853

Commitment Year•2021Country of Activity•GermanyDirect Recipient Country of Incorporation•GermanySector•Transport And StorageFlow Type•Loan

Status

Project lifecycle

Pipeline: Commitment

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date: Jan 1, 2021

Last repayment (originally scheduled): Dec 28, 2037

Stakeholders

Organizations involved in projects and activities supported by financial and in-kind transfers from Chinese government and state-owned entities

Funding agencies

State-owned companies

ICBC Financial Leasing Co., Ltd. (ICBCFL) (ICBC Leasing)

Receiving agencies

Private Sector

Hapag-Lloyd AG

Loan description

ICBC Leasing loans $472 million to Hapag-Lloyd for leasing of three new containerships

Interest type•UnknownMaturity•17 years

Narrative

Full Description

Project narrative

In 2021, Industrial and Commercial Bank of China Leasing (ICBC Leasing) loaned $472 million to Hapag-Lloyd AG -- a German shipping company -- for the leasing of three new containerships they ordered in December 2020. The three ships were to be built new, and would be liquified natural gas (LNG)-powered with 23,500 TEU in cargo capacity. Loan terms included a maturity of 17 years in addition to construction-phase financing, and adhering to Green Loan Principles.