MPCC buys five modern eco-design container vessels

Norwegian vessel owner MPC Container Ships acquired five modern eco-design vessels for a total price of US$136.4 million. These vessels have existing charter contracts with top-tier counterparties, further strengthening the company's revenue-generating capabilities.

Constantin Baack, CEO of MPCC, commented that the inclusion of five young, eco-design vessels enhances the overall composition of the company's fleet and will increase earnings and distribution capacity in 2023 and onwards.

He added, "Moving forward, our portfolio optimisation strategy will remain centered around upgrading our existing vessels, acquiring modern eco tonnage as well as investing in newbuildings with premium earnings capabilities and lower emissions."

According to MPCC, the newly acquired vessels are 30% more efficient than conventional designs and are among the top 25% of all vessels in their segment. They are also accretive to earnings per share (EPS) and dividends per share (DPS).

The five ships have an average age of 4.6 years and will add approximately 9,250 TEUs to the existing fleet, which, following the acquisition, will comprise of 70 vessels with an aggregate capacity of 153,294 TEUs, excluding AS Emma.

Under the existing charters, the new vessels are expected to generate earnings before interest, taxes, depreciation and amortisation (EBITDA) between US$30-41 million depending on when the vessels are redelivered.

MPCC announced it signed a term sheet with a European bank for a US$50 million senior secured facility to support the transaction.

Source: Container News


Related News

Sourcing from Vietnam could shift as costs and restrictions rise, warn businesses
Sourcing from Vietnam could shift as costs and restrictions rise, warn businesses

2221 Views

The sourcing shift to Vietnam will go into reverse if severe lockdown measures don’t end soon, business groups have warned.

KMTC CONTAINER SHIP SUFFERS FIRE OFF MALAYSIA
KMTC CONTAINER SHIP SUFFERS FIRE OFF MALAYSIA

1240 Views

The 2,778 TEU container ship KMTC Shenzhen experienced a fire off Port Klang in Malaysia on 12 August, according to the UK insurance company WK Webster.

CMA CGM and WWF join forces for “greener” shipping and logistics
CMA CGM and WWF join forces for “greener” shipping and logistics

1870 Views

CMA CGM Group has partnered with the WWF France aiming to "green" the shipping and logistics sectors, fight illicit trafficking in protected species and preserve marine ecosystems.


Comment
  • Your review
main.add_cart_success