Premises of Yangzijiang Shipbuilding Group in Jingjiang, Taizhou. [Photo/Yangzijiang Shipbuilding Group]

German shipping giant Hapag-Lloyd has contracted with two shipbuilders in Jingjiang, Taizhou – Yangzijiang Shipbuilding Group and New Times Shipbuilding – to construct 24 liquefied natural gas dual-fuel container ships. Each shipyard is poised to deliver 12 vessels between 2027 and 2029.

With the total investment amounting to $4 billion, the order marks the largest new-build investment in Hapag-Lloyd's history.

The vessels will feature state-of-the-art low-emission and high-pressure LNG dual-fuel engines with exceptional efficiency. Additionally, they are designed to operate on biomethane, reducing carbon dioxide emissions by up to 95 percent compared to traditional propulsion systems.

Yangzijiang Shipbuilding Group, which has experienced a surge in orders for dual-fuel container ships, tankers, and gas carriers, reported record-breaking performance in the third quarter. The company secured 98 new orders this year, valued at $11.64 billion, achieving 259 percent of its annual target. This year's order value surpassed the company's total figures from the past four years.

Similarly, New Times Shipbuilding has excelled in the LNG dual-fuel container ship market, with 86 new orders this year, including 50 for LNG dual-fuel container ships.