MPCC fast-tracks newbuild orders with long-term charters attached

Oslo-based MPC Container Ships (MPCC)is stepping up its fleet rejuvenation with newbuild orders. The shipowner of small to mid-size container ships has placed an order for two container vessels in combination with 8-year charters to a liner operator.

MPCC has signed contracts for two 1,600 teu high cube container vessels with Chinese Fujian Mawei Shipyard with deliveries scheduled in the second half of 2027.

The total investment amounts to $66m, MPCC said, and the shipowner holds options for additional vessels.

As stated, each vessel has been fixed on 8-year time charter (plus a 2-year optional period) with a global liner company, expected to generate approximately $92m in revenue and contribute around $54m in EBITDA over the contracted charter period. According to MPCC, this provides substantial earnings visibility as well as derisking.

The vessel features a fuel-efficient design optimized for the Northern Europe trade and its restricted channels.

The project will be financed through a balanced mix of equity and debt. The newbuildings are expected to be accretive to both earnings per share (EPS) and dividends