German lenders KfW IPEX-Bank and Commerzbank have sealed a financing deal for a third expedition ship for Hapag-Lloyd Cruises.

The 16,000-gt Hanseatic Spirit is to be built by Vard.

The TUI subsidiary will take delivery of the first two vessels next year, with the third coming in 2021.

No financial details have been revealed.

"This closing again underscores our structuring competence when it comes to tailored financings in the cruise segment," said Andreas Ufer, member of the KfW management board.