MPCC Places Order for Six New Container Ships to Chinese Shipyard
MPC Container Ships (MPCC) has entered into contracts with Taizhou Sanfu Ship Engineering in China for the construction of six 3,700 TEU container vessels scheduled for first delivery in second half of 2028.
Each vessel will operate under a 10-year time charter, with extension options, to a top five liner company.
The vessels are based on the newest design, which optimizes speed and fuel consumption for regional and feeder trades, while keeping enough flexibility to shift between trade lanes as markets evolve.
The vessels are prepared for alternative fuels and advanced emissions-reduction technologies, providing a design that can adapt to tightening environmental rules over the lifetime of the ships.
With a total investment of $292.5 million, the initial charter period is expected to generate approximately $479 million in revenue and around $288 million in EBITDA. The project will be financed through a balanced mix of equity and debt, ensuring financial flexibility and maintaining a prudent capital structure.
Also, MPCC announced a newly established 50/50 joint venture with Uthalden. The JV will own two 4,500 TEU newbuildings that are currently wholly owned by MPCC and will be on charter to a top five liner company.
“The establishment of this joint venture will free up committed capital and optimize the company’s investment capacity, while partnering with an experienced shipping investor. It is expected that the joint venture will finance the majority of the purchase price of the vessels through moderate leverage,” MPCC said.
In addition, MPCC has agreed to sell AS Clementina, a vessel approaching the 20-year class renewal in 2026, at a price of $24 million. Handover is expected to take place after expiry of the current charter, towards the end of the second quarter of 2026.
“With yet another newbuilding order against a long-term charter with a top-tier counterpart, we have in total 17 state-of-the-art newbuildings on order with deliveries from 2026 and onwards. These measures strengthen our strategic partnerships, enhance earnings visibility, and reinforce our commitment to long-term value creation.
“As a result, our contracted backlog now exceeds $2 billion, providing exceptional visibility and positioning MPCC for sustainable growth and resilience in the years ahead. I am also pleased that we have further advanced on additional portfolio and financing initiatives, including teaming up with Uthalden, a trusted partner we have successfully worked with in the past,” said Constantin Baack, CEO of MPCC.
