Funding for six ultra-large 23,500 TEU container ships, which were ordered in December 2020, will be used.

The company confirmed that according to the Green Loan Principles of the Loan Market Association, the two deals include debut transactions (LMA).The $417 million syndicated green loan has a 12-year maturity and will be used to fund three of the six on-order container ships.

The Korea Trade Insurance Corporation (K-SURE) funds the credit facility, and the syndicate consists of 11 banks. The structuring and coordination of the deal was managed by KfW IPEX-Bank and BNP Paribas.

The lease funding for the remaining three new buildings is worth $472 million, has a maturity of 17 years plus financing for the construction process, and has been arranged by China Leasing Industrial and Commercial Bank (ICBC Leasing).

Korean shipyard Daewoo Shipbuilding & Marine Engineering is constructing the six ultra-large container vessels (DSME).

The vessels will be equipped with fuel-efficient dual-fuel high-pressure engines that will run on LNG, but will also have ample tank space to run on traditional fuel.

Maritime Business World