MPC Container Ships expands fleet, strengthens finances with new orders, strategic moves

MPC Container Ships ASA (MPCC) has ordered six new 3,700 TEU container vessels from Taizhou Sanfu Ship Engineering in China, with first delivery scheduled for the second half of 2028. These vessels represent a total investment of $292.5 million and are secured by 10-year time charters with a top 5 liner company, projected to generate approximately $479 million in revenue and $288 million in EBITDA. Financing will be a balanced mix of equity and debt.

In further strategic moves, MPCC has established a 50/50 joint venture with Uthalden AS to own two 4,500 TEU newbuildings, freeing up committed capital. The company also upsized its undrawn revolving credit facility to $130 million with a 2030 maturity and reduced the applicable margin, enhancing balance sheet flexibility.

Additionally, MPCC will sell the AS Clementina vessel for an attractive price of $24 million. Handover is expected towards the end of Q2 2026. These initiatives bring MPCC's total newbuilding order book to 17 vessels and increase its contracted backlog to over $2 billion.