MPC Container Ships ASA has announced a comprehensive update on its strategic fleet renewal programme, according to the company's release.
The company has signed a USD 228 million contract with Taizhou Sanfu Ship Engineering Co., Ltd for the construction of four 4,500 TEU container vessels, with deliveries expected in the second half of 2027.
Each vessel will be deployed under a three‑year time charter with a leading global liner operator, projected to generate approximately USD 140 million in cumulative revenue and contribute around USD 100 million in EBITDA over the charter period.
The new vessels feature advanced energy‑efficiency technologies, promise approximately 50% lower slot costs compared to comparable existing vessels, and are dual‑fuel ready for future conversion to ammonia or methanol. MPCC intends to finance the project through a balanced combination of equity and debt.
Concurrently, the company has drawn on two additional debt facilities: a USD 52 million loan from KfW IPEX‑Bank and a USD 50 million-financing with Deutsche Bank, which includes an accordion option of up to USD 250 million.
These facilities are secured by modern ECO‑vessels, while 27 vessels remain unencumbered, reflecting a moderate leverage approach.
In alignment with its optimisation strategy, MPCC is divesting three non‑strategic 1,300 TEU vessels for USD 31.5 million; the vessels average 18 years in age, and the sale is expected to reduce revenue backlog by about USD 10 million, subject to handover.
Additionally, four existing vessels – AS Serena, AS Sophia, AS Angelina and AS Penelope – have secured new two‑year charters with top‑tier liner companies.
Following these initiatives, MPCC projects charter coverage of 100% in 2025, 88% in 2026 and 34% in 2027.
The company confirms its 2025 revenue outlook of USD 485–500 million and raises its EBITDA guidance to USD 320–335 million (previously USD 305–325 million).
CEO Constantin Baack stated that the measures reinforce MPCC’s capacity to execute value‑accretive transactions, extend earnings visibility and support long‑term shareholder value creation.
MPCC has a track record of partnering with Taizhou Sanfu – in July 2022, the company contracted two 1,300 TEU vessels with the yard featuring dual‑fuel methanol capability and backed by 15‑year charters with North Sea Container Line and industrial group Elkem ASA. That earlier collaboration, part‑financed via Norwegian green grants, laid the groundwork for today’s larger order.
Incorporated April 2017 and listed on the Oslo Stock Exchange since May 2018, MPCC is a public limited company headquartered in Oslo. It specialises in owning and operating small to mid-sized container vessels on fixed-rate charters serving intra-regional trade lanes.
A Chinese shipyard based in Taizhou, Jiangsu province, Sanfu focuses on the construction of container and multi-purpose vessels, including carbon-neutral and dual-fuel designs. It has delivered vessels to European and global shipping firms.
A German export credit agency and commercial bank, KfW IPEX‑Bank provides tailored project and export finance solutions, including loans for environmentally aligned maritime assets.
A global investment bank headquartered in Frankfurt, Deutsche Bank provides corporate and sustainable finance, including structuring large-scale facility agreements such as those extended to MPCC.