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MPC Container ships ASA reports its financial results

– Further fleet ramp-up: from 41 acquired vessels as per year-end 2017 to 68 acquired vessels as per 30 June 2018.
– H1 2018 net profit USD 2.3 million. Further growth in net profit expected also for second half and full-year 2018.

H1 and Q2 2018 results:
MPC Container Ships ASA (“MPCC” or the “Company”, together with its subsidiaries the “Group”) published its interim financial report for the six-month period ended 30 June 2018. The Group succeeded in realising a net profit of USD 2.3 million for H1 2018.
– Total revenue was USD 46.9 million in Q2 2018, compared to USD 28.3 million in Q1 2018. For H1 2018, total revenue was USD 75.2 million.
– EBITDA was USD 13.3 million in Q2 2018, compared to USD 8.0 million in Q1 2018. For H1 2018, EBITDA was USD 21.2 million.
– Average time charter equivalent (TCE) was USD 9,841 per day in Q2 2018 (USD 9,352 per day in Q1 2018) and USD 9,647 per day in H1 2018.

As of 30 June 2018, the Group has acquired 68 container vessels. Of these, 66 vessels have been taken over by the balance sheet date, whereof 58 are fully consolidated and eight are operated in a joint venture.

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