The Norwegian shipping company MPC Container Ships (MPCC), based in Oslo, is further expanding its fleet with six new container ships.
In addition, the company today announced the establishment of a joint venture, the extension of an existing credit line and the sale of an older ship.
The six boxcarrier newbuildings, each with a capacity of 3,700 TEU, will be built at the Taizhou Sanfu Ship Engineering shipyard. Delivery of the ships is scheduled for the second half of 2028. All units have been chartered to a liner shipping company from the five largest market players for a term of ten years, with extension options agreed.
According to the company, the design is based on current standards for regional and feeder traffic. The ships are prepared for the future use of alternative fuels. The investment volume for the newbuilding project amounts to a total of 292.5 million dollars. For the initial charter period, MPCC expects revenues of around USD 479 million and an EBITDA of around USD 288 million. Financing will be provided through a combination of equity and debt.
Joint venture with Uthalden
MPCC has also established a 50:50 joint venture with Uthalden AS. Two container ship newbuildings, each with 4,500 TEU, which previously belonged entirely to MPCC, will be contributed to the joint venture. These ships are also chartered out to an unnamed liner shipping company from the Top 5. The joint venture is to be financed primarily through debt capital with a moderate level of debt.
Credit line extended
At the same time, MPCC has increased its previously unused revolving credit facility to $130 million. The term of the credit line now extends until 2030 and the margin has been reduced. According to the company, more than 50% of its assets are still debt-free.
Sale of the “AS Clementina”
As part of the fleet development, MPCC has agreed the sale of the container ship “AS Clementina”. The ship is approaching its next class renewal in 2026 and is to be sold for USD 24 million. The handover is planned after the existing charter contract expires towards the end of the second quarter of 2026.
