Kurs & Likviditet
Beskrivning
| Land | Norge |
|---|---|
| Lista | OBX |
| Sektor | Tjänster |
| Industri | Shipping & Offshore |
2023-07-06 07:00:08
MPC Container Ships ASA ("MPCC" or the "Company") is pleased to announce the
sale of two joint venture-owned vessels, Cimbria and Cardonia, for a total price
of USD 42.5 million. The vessels, with a capacity of 2,800 TEU, were built in
2002 and 2003, respectively. Both vessels are currently on time-charter
contracts, expiring at the earliest in July 2025 (Cardonia) and in October 2025
(Cimbria).
This sale represents the final divestment of joint venture-owned vessels in the
Company's fleet. MPCC's joint venture initiative has proven highly successful,
with the acquisition of eight vessels at a total price of USD 58 million. During
their respective holding periods, the eight vessels generated around USD 114
million in EBITDA in total and have since been divested for about USD 186
million, resulting in an attractive multiple on invested capital.
Constantin Baack, CEO of MPC Container Ships, expressed his satisfaction with
the transaction, stating:
"These divestments conclude a successful investment for MPCC, and we would like
to extend our sincere appreciation to our joint venture-partner for their
excellent collaboration, which was instrumental in achieving this highly
positive outcome. The result of our joint-venture initiative validates our
strategy of investing through market cycles, identifying attractive
opportunities, implementing effective management, and exiting at favorable
prices. We remain committed to continually optimizing our fleet while
capitalizing on market opportunities to deliver attractive returns and
sustainable long-term shareholder value."
The vessels are scheduled for handover by the end of July 2023. The use of
proceeds will be determined by the Board of Directors after the sales have been
concluded.
For further information, contact: ir@mpc-container.com
About MPC Container Ships
MPC Container Ships ASA (OSE: MPCC) is a leading container tonnage provider
specializing in small to mid-size container ships. The Company owns and operates
a portfolio of container ships that serve intra-regional trade lanes on fixed
-rate charters. The Company is registered and has its business office in Oslo,
Norway. For more information, please visit www.mpc-container.com.