Shipping giant Hapag-Lloyd is expanding its fleet.
Two contracts for a total of 24 new container ships were signed by the German shipping company, Hapag-Lloyd, the fifth-largest container line in the world by capacity. Yangzijiang Shipbuilding Group will construct 12 of these new structures, each with a 16,800-TEU capacity. These units will be used to increase the existing services’ capacity. Twelve more ships, each with a 9,200-TEU capacity, have been ordered from New Times Shipbuilding Company Ltd. to replace the Hapag-Lloyd fleet’s aging vessels that will be reaching the end of their useful lives this decade.
Modern, highly fuel-efficient, low-emission, high-pressure liquefied gas dual-fuel engines will be installed in all the new vessels. The new ships will be delivered to Hapag-Lloyd between 2027 and 2029. Hapag-Lloyd is in charge of 287 container ships that can carry 2.2 million TEU in total.
Hapag Lloyd has a development plan in place for 2030.
The organization intends to continue after achieving considerable progress in 2023. With the help of a new Terminal and Infrastructure Division, Hapag-Lloyd is expanding its terminal portfolio and investing in its fleet and service network to strengthen its core liner business. In order to directly assist its main business, the carrier intends to increase its inland transit share. With these new acquisitions, Hapag-Lloyd intends to secure its position among the top five worldwide container lines and strengthen its footprint in key markets such as Africa, India, Southeast Asia, and the Pacific trade.
Since the end of last year, container shippers have had to reroute their vessels to avoid the Red Sea due to attacks on commercial ships by Houthi rebels in Yemen. Fuel consumption and expenses have increased as a result of the diversions, but as vessel capacity is limited, freight rates have increased. Nevertheless, Hapag-Lloyd has raised its previous estimate of group earnings before interest, tax, depreciation, and amortization from 3.2 billion to 4.2 billion euros ($4.6 billion to $5.0 billion) to between 4.2 billion and 4.6 billion euros this year.
