news, independent container ship owner MPC Container Ships ASA (hereinafter referred to as “MPCC” or the company) released its third quarter 2025 financial report on November 27. During the reporting period, MPCC delivered robust operational and financial performance, with 100% charter coverage for 2025 and 92% for 2026. At the same time, MPCC raised its full-year 2025 performance guidance.
Despite the surge in container ship orders in 2025, MPCC CEO Constantin Baack believes that increased investment in feeder container ships is necessary. He pointed out that investment in the container ship fleet below 5000 TEU, in particular, remains insufficient to offset the effects of fleet aging and to meet the surging demand in regional markets, especially in Asia.
He noted that after signing contracts to build 10 container ships this year, MPCC is highly likely to exercise its option orders and is also exploring additional investment opportunities.
MPCC has 11 newbuilding orders in hand
In short, according to follow-up reports from , in July, MPCC placed an order at Taizhou Sanfu Shipbuilding for 4 x 4500 TEU container ships, valued at $228 million, scheduled for delivery in the second half of 2027.
In October, it placed an order at Fujian Mawei Shipbuilding for 2 x 1600 TEU container ships, valued at $66 million, scheduled for delivery in the second half of 2027.
Subsequently, in November, it placed an order at Jiangsu Hantong for 4 x 4500 TEU container ships, at approximately $58 million per vessel, with deliveries scheduled to commence in the first half of 2028.
Furthermore, MPCC’s newbuilding orders also include 1 x 1300 TEU methanol dual-fuel container ship, currently under construction at Wenchong Shipyard and expected to be delivered in the third quarter of 2026.
Constantin Baack stated, “MPCC is actively exploring and also considering placing further newbuilding orders. The terms for MPCC’s orders this year are very attractive, so we might consider ordering more.”
Specifically, in the third quarter of 2025, MPCC achieved operating revenue of $120 million, a year-on-year decrease of 5.3%; gross profit reached $74.213 million, a year-on-year decrease of 11.0%; EBITDA reached $83.472 million, a year-on-year decrease of 1.6%; profit before tax was $53.463 million, a year-on-year decrease of 16.1%; net profit reached $53.599 million or earnings per share of $0.12, a year-on-year decrease of 15.8%.
In the third quarter of 2025, MPCC’s fleet operational utilization rate was as high as 97.6%, with a daily average TCE of $26,523, a year-on-year increase of 0.7%; daily average management cost per vessel was $7,859, a year-on-year increase of 14.6%.
For the first three quarters of 2025, MPCC achieved operating revenue of $390 million, a year-on-year decrease of 4.9%; gross profit reached $240 million, a year-on-year decrease of 11.1%; EBITDA reached $270 million, a year-on-year increase of 1.2%; profit before tax was $190 million, a year-on-year decrease of 6.6%; net profit reached $190 million or earnings per share of $0.43, a year-on-year decrease of 6.6%.
For the first three quarters of 2025, MPCC’s fleet daily average TCE was $26,064, a year-on-year decrease of 3.0%; daily average management cost per vessel was $7,509.
To date, MPCC operates 51 container ships with a total capacity of 130,000 TEU. The total contracted charter revenue backlog is $1.6 billion. Charter coverage for 2025 and 2026 reaches 100% and 92% respectively, and 55% for 2027.
It is particularly worth mentioning that MPCC recently signed 11 forward time charter contracts with a global Top 5 liner company, each with a 2-year duration, secured on average 12 months in advance, with a total contract value of $110 million.
MPCC Co-CEO and CFO Moritz Fuhrmann stated, “MPCC’s performance in the third quarter demonstrates its continued value creation, highlighting MPCC’s ability to fully utilize market conditions, seize opportunities, and execute effectively. MPCC remains focused on what it can control and has proactively increased its contracted revenue backlog, providing good predictability for the coming years. Through strategic fleet renewal, MPCC demonstrates its commitment to achieving long-term shareholder value.”
MPCC CEO Constantin Baack pointed out, “Amid increased market noise and uncertainty, MPCC remains firmly positioned in the resilient small and medium-sized container ship segment. MPCC’s flexible balance sheet and disciplined capital approach enable it to navigate volatility while building strong partnerships and enhancing long-term value creation. MPCC’s execution capability and proven track record of delivering results across cycles give it the confidence to move forward and create attractive shareholder returns regardless of market conditions.”
MPCC raises 2025 performance guidance
MPCC stated that it is raising its 2025 operating revenue guidance to between $500 million and $510 million, and its EBITDA guidance to between $330 million and $340 million.
