- Six 3,700 TEU container newbuildings ordered with 10-year charters attached
- Joint venture established to optimize capital deployment
- Revolving credit facility upsized and margins reduced
- Older vessel divested as part of fleet modernization
According to a company update from MPC Container Ships ASA, the company has announced a series of strategic initiatives, including the ordering of additional newbuildings, the establishment of a joint venture, an expansion of its revolving credit facility, and the sale of an older vessel.
Six 3,700 TEU Newbuildings with Long-Term Charters
MPC Container Ships ASA has entered into contracts with Taizhou Sanfu Ship Engineering in China for the construction of six 3,700 TEU container vessels. The vessels are scheduled for first delivery in the second half of 2028 and will each operate under a 10-year time charter, with extension options, to a top five liner company.
The vessels are based on a new design aimed at optimizing speed and fuel consumption for regional and feeder trades, while retaining flexibility to shift between trade lanes as market conditions evolve. They are prepared for alternative fuels and advanced emissions-reduction technologies, allowing the design to adapt to tightening environmental regulations over the vessels’ operational lifetimes.
The total investment for the project amounts to USD 292.5 million. During the initial charter period, the vessels are expected to generate approximately USD 479 million in revenue and around USD 288 million in EBITDA. Financing will be structured through a balanced mix of equity and debt to maintain financial flexibility and a prudent capital structure.
Joint Venture Established with Uthalden
The company also announced the establishment of a new 50/50 joint venture with Uthalden AS. The joint venture will own two 4,500 TEU newbuildings that are currently wholly owned by MPC Container Ships ASA and are on charter to a top five liner company.
The transaction is intended to free up committed capital and optimize investment capacity while partnering with an experienced shipping investor. It is expected that the joint venture will finance the majority of the vessels’ purchase price through moderate leverage.
Revolving Credit Facility Upsized
In parallel with these measures, MPC Container Ships ASA has upsized its existing undrawn revolving credit facility to USD 130 million, with maturity extended to 2030. The applicable margin on the facility has also been reduced.
The optimized revolving credit facility is intended to strengthen balance sheet flexibility and provide additional capital capacity to support potential future acquisitions. The company noted that its balance sheet remains conservatively structured with low leverage, while more than 50% of assets remain debt free.
Vessel Sale Supports Fleet Modernization
As part of its ongoing fleet modernization, MPC Container Ships ASA has agreed to sell AS Clementina, a vessel approaching its 20-year class renewal in 2026, for USD 24 million. Handover is expected to take place following the expiry of the current charter, toward the end of the second quarter of 2026. The implied net asset value is stated at NOK 34 per share.
“2025 has proven to be a transformational year for MPCC”, said Constantin Baack, CEO of MPCC. “With yet another newbuilding order against a long-term charter with a top-tier counterpart, we have in total 17 state-of-the-art newbuildings on order with deliveries from 2026 and onwards. These measures strengthen our strategic partnerships, enhance earnings visibility, and reinforce our commitment to long-term value creation. As a result, our contracted backlog now exceeds USD 2 billion, providing exceptional visibility and positioning MPCC for sustainable growth and resilience in the years ahead. I am also pleased that we have further advanced on additional portfolio and financing initiatives, including teaming up with Uthalden, a trusted partner we have successfully worked with in the past.”
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Source: MPC Container Ships ASA
