On 18 July 2025, MPC Container Ships (“MPCC” or the “Company”)announced a company update, including a series of strategic initiatives to modernize its fleet and strengthen its long-term earnings visibility.
The Company has placed a USD 228 million order for four 4,500 TEU container vessels with secured 3-year charters, divested older non-strategic tonnage and expanded its financing platform with new debt facilities totaling over USD 100 million, plus accordion option.
Newbuilding order for four 4,500 TEU container vessels
MPCC has signed contracts for four 4,500 TEU container vessels with Chinese shipyard Taizhou Sanfu Shipbuilding, with deliveries scheduled from the second half of 2027. The total investment amounts to USD 228 million and the Company holds several options for additional vessels, offering future scalability in line with market opportunities.
Each vessel has been fixed on a 3-year time charter with a leading global liner company, expected to generate approximately USD 140 million in revenue and contribute around USD 100 million in EBITDA over the contracted charter period. The project will be financed through a balanced mix of equity and debt, ensuring flexibility and a prudent capital structure.
The new vessels will feature the latest energy-efficient technologies and have ~50% lower slot costs compared to many peer vessels currently in operation. The vessels will be dual-fuel ready, enabling future conversion to ammonia or methanol, aligning with global maritime decarbonization goals.This investment further reinforces MPCC’s transition toward a younger, more efficient, and environmentally compliant fleet, reducing exposure to regulatory and environmental risk.
The company has two high-tech ship construction bases,Yongan Site and Kouan Site, both are located on the Golden Waterway of Yangtze River, equipped with outfitting shoreline wharves for 10,000-ton ships,7 slipways and hundreds of hoisting equipment, with a maximum lifting capacity of 900 tons. The company main products are including all types of container vessels,multi-purpose vessels,tankers/chemical vessels,bulk carriers,tugs,ocean engineering vessels and various types of barges, up to 120,000DWT.
MPCC secures attractive debt financing and expands banking universe
In addition to successfully tapping the outstanding senior unsecured sustainability linked bond and entering the Japanese lending market earlier this year, MPCC continues to secure attractive debt financing, supporting the company’s fleet renewal efforts. The company has recently drawn under two new debt facilities, namely, a USD 52 million facility with KFW-IPEX as well as a USD 50 million facility with Deutsche Bank that features a USD 250 million accordion option. Both facilities are secured by modern ECO-vessels, whereas the Accordion option further increases MPCC’s balance sheet flexibility going forward. Overall, MPCC continues with a moderate leverage strategy, while 27 vessels remain debt free on the balance sheet.
Sale of non-strategic tonnage and charter update on existing fleet
In parallel with the newbuilding contracts, MPCC will divest three non-strategic 1,300 TEU vessels for a total consideration of USD 31.5 million, with existing charters attached. The average age of the sold vessels is 18 years, and the transactions imply a NAV of NOK 25-26 per share.
These sales will reduce the revenue backlog by approximately USD 10 million, subject to vessel handovers. The vessels are sold to unrelated parties, and the completion of the sale transaction is subject to successful handover of the vessels.
Additionally, and in line with the current positive container market environment, MPCC has secured new ~2-year charter contracts with two top-tier liner companies for the vessels AS Serena, AS Sophia, AS Angelina, and AS Penelope.