Hapag-Lloyd has signed two contracts worth $4bn with two Chinese shipyards for a total of 24 neo-panamax container ships.

Chief executive Rolf Habben Jansen said the investment was one of the largest in the German carrier’s recent history.

“It represents a significant milestone for our company as it pursues the goals of its Strategy 2030, such as to grow while also modernising and decarbonising our fleet,” Habben Jansen said.