MPC Container Ships reported second-quarter 2025 results, showing higher revenues and profit compared to the same period last year.
Operating revenues reached USD 137.9 million, up from USD 130.9 million in Q2 2024. EBITDA stood at USD 107.4 million versus USD 84.4 million a year earlier, while adjusted EBITDA was USD 80.7 million compared with USD 78.0 million.
Profit for the period amounted to USD 78.1 million, rising from USD 64.8 million in Q2 2024. Adjusted profit was USD 48.6 million, down from USD 58.4 million. Adjusted earnings per share were USD 0.11 compared with USD 0.13 last year. The company maintained a leverage ratio of 33.6%.
The board declared a quarterly dividend of USD 0.05 per share, representing 50% of adjusted net profit. This marks the 15th dividend since February 2022.
The company reported a charter backlog of USD 1.2 billion, with full contract coverage for 2025 and 89% coverage for 2026. Fleet utilization stood at 97.6%, unchanged from Q2 2024, with an adjusted average TCE of USD 26,247 per day compared with USD 26,742 in the prior year.
As of 30 June 2025, MPCC’s fleet consisted of 54 vessels with a total capacity of approximately 133,080 TEU. In July, the company ordered four 4,500 TEU newbuilds for delivery starting in the second half of 2027.
Co-CEO and CFO Moritz Fuhrmann stated: “We are very pleased to report another strong quarter, marked by solid operational performance and high fleet utilization. We are particularly excited about our newbuilding program comprising four state-of-the-art vessels, which will further enhance our fleet and support long-term growth. During the quarter we have also secured USD 100 million in loan facilities as well as a USD 250 million accordion option, providing us with financial flexibility for future growth. In line with the renewed capital allocation strategy, we are distributing 50% of our adjusted net profit as dividends - at the high end of our communicated range - demonstrating our commitment to shareholder returns.”
CEO Constantin Baack said: “Looking ahead, we expect continued volatility and uncertainty driven by geopolitical tensions and shifting global trade policy. While these dynamics pose challenges, they also present compelling opportunities for agile and well-capitalized players. Maintaining strong investment capacity is critical for MPCC, not only to navigate the shifting landscape but to act decisively when attractive opportunities arise.”
The company reaffirmed its full-year 2025 guidance, expecting operating revenues between USD 485 million and USD 500 million, and EBITDA in the range of USD 320 million to USD 335 million.
MPC Container Ships ASA is a public limited company registered in Oslo, Norway. It specializes in owning and operating small to mid-size container vessels, primarily serving intra-regional trade on fixed-rate charters. The company was established in 2017 and is part of the MPC Capital group, an international asset and investment manager headquartered in Hamburg, Germany.