On July 18, 2025, MPC Container Ships ASA (referred to as “MPCC” or “the Company”) issued a business update announcement, stating it will advance fleet modernization and enhance long-term earnings visibility through a series of strategic initiatives. The Company has signed orders for four 4,500 TEU container vessels with a total value of USD 228 million (including three-year charters), divested older non-strategic vessels, and expanded its financing platform through new financing facilities totaling over USD 100 million (including flexible accordion options).
**Newbuilding Order for Four 4,500 TEU Container Vessels**
MPCC has signed shipbuilding contracts with China’s Taizhou Sanfu Shipbuilding for four 4,500 TEU container vessels, scheduled for delivery starting in the second half of 2027. The total investment is USD 228 million, and the Company holds additional vessel options to flexibly expand scale based on market opportunities. Each vessel has secured a three-year time charter contract with a leading global liner company, expected to generate approximately USD 140 million in revenue and USD 100 million in EBITDA over the charter period. The project will be financed through a balanced mix of equity and debt, ensuring a prudent and flexible capital structure.
The new vessels will be equipped with the latest energy-saving technologies, reducing unit slot costs by approximately 50% compared to similar vessels currently in service. They feature a dual-fuel ready design, allowing for future retrofitting to use ammonia or methanol fuel, aligning with the global shipping industry’s decarbonization goals. This investment will accelerate MPCC’s transition towards a younger, more efficient, and environmentally friendly fleet, reducing regulatory and environmental risk exposure.
The company owns two high-tech shipbuilding bases, Yong’an and Kou’an, both located on the golden waterway of the Yangtze River, equipped with 10,000-ton outfitting docks, 7 shipbuilding berths, and hundreds of lifting equipment (maximum lifting capacity 900 tons). Its main products cover various types of container ships, multi-purpose vessels, chemical tankers, bulk carriers, tugs, offshore engineering vessels, and various barges (maximum deadweight 120,000 tons).
**MPCC Secures Favorable Debt Financing and Expands Syndicate Cooperation**
Following the successful issuance of senior unsecured Sustainability-Linked Bonds and entry into the Japanese credit market earlier this year, MPCC recently secured two new financings: a USD 52 million loan from IPEX-Bank, a subsidiary of KfW, and a USD 50 million loan from Deutsche Bank (including a USD 250 million flexible accordion option). Both financings are secured against modern, environmentally friendly vessels, with the accordion options enhancing balance sheet flexibility. The Company currently maintains a moderate leverage strategy, with 27 vessels remaining debt-free.
**Disposal of Non-Strategic Vessels and Renewal of Existing Fleet Charters**
Concurrently with the newbuilding signings, MPCC will sell three non-strategic 1,300 TEU vessels (average age 18 years) with charters attached for a total of USD 31.5 million. The transaction implies a Net Asset Value per share of NOK 25-26. Upon completion, it is expected to reduce approximately USD 10 million in unrealized revenue.
Furthermore, capitalizing on favorable conditions in the container shipping market, MPCC has secured new charters of approximately 2 years for vessels including AS Serena, AS Sophia, AS Angelina, and AS Penelope with two top-tier liner companies.
