Oslo, Norway, 25 June 2026: MPC Container Ships ASA to acquire four 7,000 TEU vessels with three-year charter, advances fleet modernization and secures USD 375m financing
MPC Container Ships ASA (“MPCC” or the “Company”) has agreed to acquire four 2023-2024 built, 7,000 TEU eco-conventional container vessels from an unrelated third party, each secured with a three-year fixed-rate time charter to a top-5 liner company. In parallel, MPCC has fixed forward charters for two vessels, and agreed to divest two non-strategic vessels, further strengthening contracted coverage and advancing the Company's ongoing fleet modernization. MPCC has also secured a USD 375 million senior secured term loan to fund its fleet renewal program.
Fleet and commercial update
The transaction delivers immediate earnings accretion and contracted cash flow visibility
The acquisition of the four vessels is priced at USD 340 million in total, and the fixed-rate charters provide immediate earnings visibility, securing USD 180 million in revenue and USD 140 million in expected EBITDA over the three-year charter period. The transaction is expected to be funded through a combination of bank debt and existing cash resources, reflecting the Company’s well-capitalized and flexible balance sheet. The charters attached to the acquisition combine immediate EPS accretion with a strong de-risking of the residual value, while retaining significant upside upon charter expiration. Delivery of the vessels, subject to inspection and customary closing conditions, is expected to take place in October-November 2026.
The vessels are modern 7,000 TEU featuring an eco-friendly design concept, integrating a low energy main engine and high-efficiency propellers. This expands the Company's platform across multiple size classes while maintaining the operational flexibility that defines small-to-mid-size container shipping. The acquisition lifts MPCC's contracted revenue backlog to USD 2.2 billion, continues the ongoing fleet transition towards a younger, more efficient and future-proof fleet, and strengthens MPCC's ability to serve top-tier global liner companies across a wider range of vessel sizes.
CEO Constantin Baack comments:
"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."
Strong chartering activity for forward positions
The Company has entered into agreements to charter out AS Pamela and AS Anne. The vessels are chartered out on 24-27 and 30-32-month contracts respectively at attractive rates. These contracts are fixed approximately six to nine months forward on average and will be delivered into their new charters during the second quarter of 2027 and the fourth quarter of 2026.
Sale of non-strategic vessels
In line with the ongoing fleet modernization, MPCC has agreed to sell AS Selina at a price of USD 24 million. Handover is expected to take place after expiry of the current charter, scheduled between end of Q4 26 and early Q1 27. Separately, MPCC has also agreed to sell AS Angelina, a vessel approaching the 20-year class renewal in 2027, for USD 17 million. Handover of the vessel is expected to take place during Q3 26.
Updated charter coverage and 2026 financial guidance
These initiatives will further enhance MPCC’s revenue backlog and contract coverage as follows:
- 2026: 99%
- 2027: 74%
- 2028: 48%
Following these developments, MPCC revises its 2026 financial guidance as follows:
- Revenue: USD 460-470 million (previously USD 450-460 million)
- EBITDA: USD 280-300 million (previously USD 260-280 million)
Financing update
USD 375 million debt financing, supporting MPCC’s fleet renewal program
MPCC has successfully secured a USD 375 million senior secured term loan fully underwritten by Société Generale, financing ten of its 16 newbuildings ordered last year, subject to customary documentation and conditions. The fully committed pre-and post-delivery facility faced strong demand from lenders and was eventually substantially oversubscribed. The final consortium includes BNP Paribas, Crédit Agricole, ING and KfW IPEX-Bank as lenders. The term loan comes with a ten-year tenor as of delivery and highly attractive terms, underlining the Company’s strong credit profile and robust balance sheet. This milestone financing is a major step towards the full funding of the Company’s newbuilding program.
Another USD 75 million in newbuilding financing relating to two 4,500 TEU vessels is credit approved. This facility, which is subject to customary documentation and conditions, comes with equally competitive terms and is expected to close in the second half of 2026.
Overall, MPCC maintains a conservative and flexible balance sheet structure with 30 debt free vessels as of today and significant undrawn capacity under its revolving credit facility.
Co-CEO and CFO Moritz Fuhrmann comments:
“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.”