Newbuilding order for four 4,500 TEU container vessels
MPC Container Ships (MPCC) has announced a major fleet renewal step with an order for four 4,500 TEU container vessels. The contract was signed with Taizhou Sanfu Ship Engineering in China. Deliveries are expected to begin in the second half of 2027.
The total investment amounts to US$228 million. MPCC also secured options for more vessels, allowing flexibility to scale in the future.
Also, each ship is fixed on a 3-year charter with a major global liner. The contracts are set to generate around US$140 million in revenue and US$100 million in EBITDA during the charter period.
These newbuilds will feature energy-efficient tech and be dual-fuel ready, with future conversion potential to ammonia or methanol. This supports MPCC’s commitment to reducing emissions and meeting global decarbonization targets.
Additionally, slot costs will be up to 50% lower than many existing vessels in the market. The deal reflects MPCC’s push toward a modern, greener fleet.
The project will be financed through a mix of equity and debt, keeping the capital structure flexible and balanced.
MPCC secures attractive debt financing and expands banking universe
MPCC also continues to grow its financing platform. This includes tapping into its sustainability-linked bond and entering the Japanese lending market earlier this year.
More recently, the company secured two new debt facilities:
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US$52 million from KFW-IPEX
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US$50 million from Deutsche Bank, which includes a USD 250 million accordion option
In addition, these loans are backed by modern ECO-vessels. Also, the accordion feature gives MPCC added flexibility as it pursues future opportunities.
Despite this expansion, MPCC is keeping its leverage strategy moderate. Notably, 27 vessels remain debt-free.
Sale of non-strategic tonnage and charter update on existing fleet
As part of its fleet optimization, MPCC will sell three 1,300 TEU vessels for US$31.5 million. The ships are around 18 years old and were considered non-core assets.
Furthermore, the deal includes existing charters and reflects a NAV of around NOK 25–26 per share. These sales will reduce the revenue backlog by about US$10 million.
Lastly, at the same time, MPCC has locked in new ~2-year charters for the AS Serena, AS Sophia, AS Angelina, and AS Penelope. These deals are with top-tier liners, reflecting ongoing market strength.
Updated charter coverage and 2025 financial guidance
With these updates, MPCC’s forward contract coverage now stands at:
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2025: 100%
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2026: 88%
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2027: 34%
Moreover, the company has updated its 2025 guidance:
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Revenue: US$485–500 million (unchanged)
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EBITDA: US$320–335 million (up from previous US$305–325 million).
”Our ongoing fleet renewal strategy is further reinforced by these measures. They underscore our ability to structure value-accretive transactions and secure long-term employment with top-tier liner companies,” stated Constantin Baack, CEO, MPCC.
