Hapag-Lloyd has secured financing for more than $4bn-worth of boxships ordered in October.

Yangzijiang Shipbuilding will construct 12 ships of 16,800 teu each, while a dozen 9,200-teu vessels have been ordered from New Times Shipbuilding.

The financing consists of four components.

About $900m will consist of Hapag-Lloyd’s own cash, with $500m provided by two banks in the form of bilateral mortgage loans.