Stephenson Harwood advised ICBC Financial Leasing on the deal. Hogan Lovells acted for Hapag-Lloyd.
The transaction involved a US$472 million green lease facility of three 23,500 TEU newbuilding containerships for Hapag-Lloyd. The newbuild ships will be powered by LNG dual fuel engines and are part of Hapag-Lloyd’s order of six ultra-large containerships worth up to US$1 billion with Daewoo Shipbuilding & Marine Engineering. The transaction fulfils the Green Loan Principles of the Loan Market Association and the performance of the six ships is in line with the Climate Bond Initiative trajectory as certified in the form of a second-party opinion by DNV GL as an independent expert.
The Stephenson Harwood (Singapore) Alliance team was led by Singapore-based partner Huay Yee Kwan (Picture), who was supported by associates Nicole Tan, Gary Leow, Joan Tan and Romie Yeo, and paralegal Kai Wei Yeo.
Hapag-Lloyd was advised by Hogan Lovells’ Frankfurt Corporate & Finance Partner Bianca Engelmann, supported by London Corporate & Finance Senior Counsel Andrew Carey and Senior Legal Director Sukhvir Basran.
Involved fees earner: Sukhvir Basran – Hogan Lovells; Andrew Carey – Hogan Lovells; Bianca Engelmann – Hogan Lovells; Huay Yee Kwan – Stephenson Harwood; Gary Leow – Stephenson Harwood; Nicole Tan – Stephenson Harwood; Joan Tan – Stephenson Harwood; Romie Yeo – Stephenson Harwood;