MPC Container Ships ASA (MPCC), a prominent player in the global container shipping sector, announced a comprehensive suite of strategic initiatives on Wednesday, including a six-vessel newbuilding order, a joint venture establishment, a revolving credit facility expansion, and an aged vessel sale. Industry analysts have noted that the integrated moves signal MPCC’s ambition to strengthen its feeder market position while enhancing financial resilience amid evolving industry dynamics.
Six 3,700 TEU Newbuilds Secured with Long-Term Charter Backing
MPCC has entered into contracts with Taizhou Sanfu Shipbuilding in China for the construction of six 3,700 TEU container vessels scheduled for first delivery in second half of 2028. Each vessel will operate under a 10-year time charter, with extension options, to a top 5 liner company.
A centerpiece of MPCC’s announcement is its contract with China’s Taizhou Sanfu Shipbuilding for the construction of six 3,700 TEU feeder container vessels, with the first delivery slated for the second half of 2028. Critically, all six vessels have been secured under 10-year time charters—with extension options—from a top-five global liner operator, providing the company with long-term revenue visibility.
The newbuilds feature cutting-edge design optimized for regional and feeder operations, balancing speed and fuel efficiency while maintaining operational flexibility to shift between trade lanes as market conditions change. In a nod to the industry’s decarbonization push, the vessels are also engineered to accommodate alternative fuels and advanced emissions-reduction technologies, ensuring compliance with tightening environmental regulations throughout their operational lifecycle.
Financially, the project represents a total investment of $292.5 million. MPCC projects the initial charter term will generate approximately $479 million in revenue and $288 million in EBITDA. The company plans to fund the acquisition through a balanced mix of equity and debt, a approach intended to preserve financial flexibility and maintain a prudent capital structure.
50/50 JV with Uthalden to Unlock Capital and Enhance Portfolio Efficiency
Complementing its newbuilding strategy, MPCC revealed the formation of a 50-50 joint venture (JV) with Uthalden AS, a seasoned shipping investor. The JV will acquire two 4,500 TEU newbuildings currently fully owned by MPCC—vessels also chartered to the same top-five liner company as the newly ordered ships.
Shipping industry consultants emphasize that the JV structure delivers dual benefits for MPCC: releasing tied-up capital to fund future growth initiatives while leveraging Uthalden’s operational expertise. The JV is expected to finance the majority of the vessel purchase price through moderate leverage, minimizing upfront capital outlay.
RCF Upsizing to $130 Million Strengthens Financial Flexibility
In a parallel move to optimize its capital structure, MPCC announced it has upsized its existing undrawn revolving credit facility (RCF) to $130 million, extended its maturity to 2030, and secured a reduced applicable margin. The enhanced facility is designed to bolster balance sheet resilience and provide dedicated capital for potential future acquisitions or strategic investments.
Key financial metrics underscore MPCC’s conservative approach: the company maintains low overall leverage, with more than 50% of its assets remaining debt-free—a position that industry observers say positions it well to navigate potential market volatility.
Aligned with its fleet renewal strategy, MPCC has agreed to sell the AS CLEMENTINA, a vessel approaching its 20-year class renewal in 2026, for $24 million—a price deemed attractive by market standards. The handover is scheduled for the end of the second quarter of 2026, following the expiration of the vessel’s current charter. The transaction implies a net asset value (NAV) of 34 Norwegian kroner per share.
Commenting on the strategic package, MPCC CEO Constantin Baack framed 2025 as a “transformational year” for the company. “With this latest newbuilding order secured against a long-term charter with a top-tier partner, we now have 17 state-of-the-art newbuildings on order, with deliveries commencing in 2026,” he stated.
Baack emphasized that the initiatives collectively “strengthen our strategic partnerships, enhance earnings visibility, and reinforce our commitment to long-term value creation.” The company’s contracted backlog now exceeds $2 billion—providing “exceptional visibility and positioning MPCC for sustainable growth and resilience in the years ahead,” he added.