MPCC Buys Four Container Ships, Secures $375M Financing

MPC Container Ships (MPCC) has agreed to acquire four eco-conventional container vessels for a total of $340 million, each backed by a three-year fixed-rate time charter with a top-five liner company, as it advances its fleet modernization program.

The vessels, built in 2023 and 2024 and each with a capacity of 7,000 twenty-foot equivalent units (TEU), are expected to be delivered in October and November 2026, subject to inspection and customary closing conditions.

The fixed-rate charters are expected to generate $180 million in revenue and $140 million in EBITDA over the three-year charter period, the company said.

The acquisition will be funded through a combination of bank debt and existing cash resources.

The company also fixed forward charters for two vessels and agreed to sell two non-strategic vessels as part of its fleet renewal strategy.

MPCC has agreed to sell AS Selina for $24 million, with handover expected after the expiry of its current charter between the end of the fourth quarter of 2026 and early first quarter of 2027. Separately, it agreed to sell AS Angelina for $17 million, with delivery expected in the third quarter of 2026.

The transactions lift MPCC's contracted revenue backlog to $2.2 billion and improve contract coverage to 99% for 2026, 74% for 2027 and 48% for 2028.

"Global container shipping is undergoing a structural shift toward intra-regional trade, with feeder vessels and the mid-size segment up to 10,000 TEU set to benefit disproportionately. Modern, fuel-efficient tonnage in this size class remains undersupplied and these versatile workhorses, deployable across virtually any trade lane, are the natural successors to an ageing fleet of classic Panamaxes and first-generation post-Panamax ships.

“Against this backdrop, we are acquiring highly attractive assets at a compelling valuation, backed by three years of secured earnings with a top-5 liner company, combining meaningful de-risking with significant upside potential. This transaction is a natural extension of our ongoing portfolio strategy: disciplined fleet renewal and a prudent chartering approach that together strengthen our capital returns profile and position MPCC well for the years ahead,” said Constantin Baack, CEO of MPCC.

Following the transactions, MPCC raised its 2026 revenue guidance to $460 million-$470 million from $450 million-$460 million and increased its EBITDA guidance to $280 million-$300 million from $260 million-$280 million.

Separately, the company secured a fully underwritten $375 million senior secured term loan to finance ten of the 16 newbuildings it ordered last year.

The financing, arranged by Société Generale and supported by BNP Paribas, Crédit Agricole, ING and KfW IPEX-Bank, has a tenor of 10 years from delivery.

An additional $75 million financing facility for two 4,500 TEU newbuildings has also received credit approval and is expected to close in the second half of 2026.

"This financing milestone underlines the strength of our balance sheet and the strong support we enjoy from our lending banks. The term loan secures funding of ten of our newbuildings at highly attractive terms, while maintaining significant cash at hand, a fleet of debt-free vessels and substantial undrawn capacity under our revolving credit facility. As a result, we are able to continue to act swiftly and capture these attractive opportunities,” added Moritz Fuhrmann, Co-CEO and CFO of MPCC.