MPC Container Ships orders boxships in China
The NCL Nordland, one of the recent additions to the MPCC fleet, was christened in Hamburg
(Source: Bosch / DVV Media Group)
Oslo-based MPC Container Ships (MPCC) has signed up for two 1,600-TEU container ships at Fujian Mawei Shipyards in China. The contract, worth USD 66 million, includes options for more vessels if market conditions remain favourable.
The two ships will be chartered to ‘a leading global liner company’ on eight-year charters with two-year options and will generate revenue of about USD 92 million over the charter period and an EBITDA of around USD 52 million, the company said.
The vessels will be built to a fuel-efficient design optimised for north European trades where some channels are restricted. The shallow-draft vessels will incorporate features facilitating good manoeuvrability and energy-saving systems to ensure good environmental performance.
In a statement, the company said that the pair of newbuildings ‘are expected to be accretive to both earnings per share and dividends per share’ when entering service.
MPCC joint chief executive, Constantin Baack, commented: “This transaction is part of our long-term fleet renewal strategy, designed to generate sustainable value through modernisation and optimisation. It underscores our strong strategic position and proven ability to execute value-enhancing deals that secure long-term charters with leading liner companies, reinforcing strategic partnerships, enhancing earnings visibility, and supporting disciplined growth.
“We continue to view the supply fundamentals in our core segments as favourable, due to the comparably low orderbook – where only 6% of the fleet is expected to be replaced in the next two to three years, while 24% of vessels are already over 20 years old.”
The vessels are due for delivery in the second half of 2027.
