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MPC Container Ships cleans up its fleet

Caption: © Wägener

MPC Container Ships, the investment vehicle of the Hamburg-based MPC Group, is continuing to restructure its fleet. Following the purchase of younger units, older ships are being sold.

Only four months ago, MPC Container Ships (MPCC) purchased five younger ships. They all came from Lomar Shipping’s fleet and cost a total of $136.4 million. These were four feeders with a capacity of 1,700 TEU each and a slightly larger freighter with 2,200 TEU. [ds_preview]

In return, however, the company is now parting with older ships. Three units built at the Peene shipyard – the “AS Flora” (1,221 TEU, built in 2005) as well as the “AS Roberta” (built in 2006) and “AS Rafaela” (built in 2007, 1,440 TEU each) – are going “en bloc” to the Turkish shortsea shipping company Arkas Holding. The Oslo-listed outfit will receive a rather modest USD 21.7 million for the ships acquired in 2018.

MPCC sells seven ships in three months

MPCC has sold a total of seven ships in the last three months. These include the “AS Romina” (built in 2009, 1,495 TEU). According to the broker, it was taken over from the long-standing charterer MSC. The “AS Rosalia”, a sister ship, was also transferred to Contships Management in Greece.

The fleet restructuring is taking place at a time when charter periods are shortening and charter rates have fallen significantly from their former highs. The future market prospects for older tonnage in particular are considered difficult by many experts.

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