MPC Container Ships Announces Sale of Five Vessels

MPC Container Ships (MPCC) has recently made an announcement regarding the sale of five vessels in an en bloc transaction. The vessels included in the sale are three 1,300 TEU vessels and two 2,000 TEU vessels. Additionally, two other vessels were recently sold to an undisclosed buyer, bringing the total number of vessels sold to seven. The average age of the vessels sold is 17 years.

As part of the sale agreement, the five vessels will be transferred with existing charters attached. This will result in a reduction of the revenue backlog by approximately $40 million, with $24 million of that amount relating to the year 2025. The sale transactions are with unrelated parties and are subject to the successful handover of the vessels.

With these recent developments, MPCC is updating its financial guidance for the year 2025. The revised guidance includes revenues in the range of $485 million to $500 million and EBITDA between $305 million and $325 million.

Commenting on the transactions, Moritz Fuhrmann, Co-CEO and CFO at MPCC, stated, “We are dedicated to the ongoing renewal of our fleet with a focus on optimization and sustainability. These transactions are expected to be highly beneficial on a per-share basis and align with our strategy to enhance the composition of our fleet for long-term success.”

In addition to the vessel sales, MPCC recently completed a successful bond tap of $75 million. Furthermore, the company has finalized its first Japanese financing transaction for the re-financing of one of its eco vessels. This marks MPCC’s entry into the competitive Japanese financing market, setting the stage for future fleet optimization initiatives.

Overall, these recent transactions and financial moves demonstrate MPCC’s commitment to strategic growth and positioning in the container shipping industry. The company continues to prioritize fleet renewal and sustainability as key pillars of its long-term success.