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

VIETNAM PROBES SKY-HIGH BOX RATES
VIETNAM PROBES SKY-HIGH BOX RATES

2103 Views

splash247.com

Evergreen spending spree on new containers continues with 6k reefer order
Evergreen spending spree on new containers continues with 6k reefer order

2203 Views

Evergreen Marine Corporation is splashing out nearly $40m for 6,000 refrigerated containers from China, bringing fleet, including subsidiaries, to 78,800  boxes.

Sea-Intelligence: We might end up with 13 million TEU of excess containers in 2023
Sea-Intelligence: We might end up with 13 million TEU of excess containers in 2023

1645 Views

The impact of supply chain problems, which have existed for two years now, is very large, leading to a significant extension of transport time, both in maritime and inland transport.


Comment
  • Your review
main.add_cart_success