German ocean carrier Hapag-Lloyd has placed orders for 24 new container ships equipped with fuel-efficient liquified natural gas (LNG) engines, with the goal of achieving its Strategy 2030 goals of modernizing and decarbonizing its fleet. 

All 24 ships will have dual-fuel engines that can run on LNG and biomethane, and will be equipped for ammonia fuel as well. Hapag-Lloyd has a goal to achieve net zero emissions for its global fleets by 2045, and estimates that its new vessels will reduce carbon emissions by 95% compared to ships outfitted with conventional propulsion systems. 

"Operating a fleet of more efficient vessels will also enhance our competitive position, and thanks to the increase in capacity, we will continue to offer our customers a global, high-quality product," Hapag Lloyd CEO Rolf Habben Jansen said in a November 6 news release. 

The company signed contracts with two Chinese shipyards to build the vessels. Twelve ships with a capacity of 16,800 twenty-foot-equivalent units (TEU) will come from the Yangzijiang Shipbuilding group, while the other half will come from the New Times Shipbuilding Company and have a capacity of 9,200 TEU. Those ships will replace aging vessels at the end of their service life in Hapag-Lloyd's existing fleet. The company is investing roughly $4 billion in the new container ships, and expects to take delivery of the vessels sometime between 2027 and 2029.