GLOBAL shipping company Hapag-Lloyd has ordered 24 new container ships from two Chinese shipyards with a combined investment volume of about US$4 billion, the carrier said.

Twelve ships, each with a capacity of 16,800 TEU, will be built by Yangzijiang Shipbuilding Group, while the other 12, with a capacity of 9,200 TEU each, will come from New Times Shipbuilding Company Ltd.

According to Hapag-Lloyd, the ships, which will be delivered between 2027 and 2029, will feature liquefied gas dual-fuel engines, which are very fuel efficient, and be ammonia-ready, reports Reuters.

A long-term financing of $3 billion has already been committed to what Hapag-Lloyd chief executive Rolf Habben Jansen said is one of the firm's largest investments in recent history.

"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," added the CEO in a statement.

The Yangzijiang ships will be used to expand the capacity of services that are already in place, while the ones from New Times will replace older units in the Hapag-Lloyd fleet that will be nearing the end of their service life in this decade.