Highlights 

o Strong operating revenues of USD 180.1 million (+26.0% YOY) including
non-recurring items of USD 24.3 million from the commercial agreement for early
redelivery of the vessel AS Carlotta in January 2023
o Adj. EBITDA excl. non-recurring items was USD 110.7 million, an increase of
11.5% from Q1 2022 despite a smaller total fleet, driven by higher average TCE
per day
o Profit for the period was USD 119.7 million. Adj. for non-recurring items, the
profit for the period was USD 88.9 million, up 13.5% from USD 78.3 million in Q1
2022 
o EPS was USD 0.23 and adj. EPS was USD 0.20 (Q1 2022: USD 0.18)
o Quarterly recurring dividend declared of USD 0.15 per share
o Average TCE was USD 30,989 per day in Q1 2023, up from USD 24,845 in Q1 2022
o Fleet utilization was 97.1% (Q1 2022: 98.8%)
o Revenue backlog of USD 1.3 billion and contract coverage for 89% of operating
days in 2023

As at March 31, 2023, the Group's fleet consisted of 62 vessels, with an
aggregate capacity of approximately 134,700 TEU.

Subject to certain assumptions, management confirms its 2023 financial guidance
for operating revenues in the range of USD 610-630 million and EBITDA in the
range of USD 420-450 million. 

Commenting on the results, CEO of MPC Container Ships, Constantin Baack said:

"We are pleased to report another positive quarterly result with strong earnings
and continued high fleet utilization despite ongoing macro- and geopolitical
uncertainty. This was driven by our solid charter backlog and continued strong
operational performance. At the end of the quarter, we had high operating days
contract coverage of 89% for 2023 and 58% for 2024, which provides us with
forward visibility on contracted cash flows and distribution capacity for the
coming years. 

Following a steep market normalization trajectory in the second half of 2022 and
into early 2023, charter markets are now displaying signs of stabilization at
levels well above historical averages. The current rate stability will be
subject to supply-constraining measures such as increased slow steaming to
comply with CII regulations. However, for intra-regional trades in particular,
the supply-demand balance is encouraging when compared to the larger fleet
segments, with demand outpacing supply growth and a reasonable amount of
additional scrapping potential. Nevertheless, it remains to be seen how the
supply growth in the large vessel segments will affect the overall container
market going forward.

Over the last two years, by adhering to prudent capital allocation principles,
we have actively deleveraged the company while distributing dividends amounting
to more than USD 600 million since February 2022, including the recurring
dividend declared for the first quarter. Throughout the first quarter, we
continued to strengthen our balance sheet and debt structure and we are
currently operating at an industry-low leverage ratio of 15.2%."

Commenting on the outlook for MPCC, Baack added: 

"Looking ahead, with high visibility on contracted cash flows and a robust and
flexible balance sheet, we are ideally placed for continued value creation and
remain committed to our policy of returning capital to shareholders. In the
first quarter, as part of our ongoing fleet renewal strategy, we sold the
2003-built, 2,800 TEU joint venture vessel AS Carinthia and acquired two
high-efficiency, scrubber-fitted vessels at 3,400 TEU and 2,800 TEU,
respectively, both with existing long-term charters with strong counterparties.
These value-accretive portfolio measures increase the earnings and distribution
potential of the company, without any impact on the expected distributions from
our existing fleet.

Going forward, we will continue to work diligently to identify and selectively
execute value-accretive fleet optimization opportunities in the best interest of
our shareholders and to the advancement of decarbonization in our industry."

Key figures                   Q4 2022	  Q4 2022     Q1 2022   
                            (unaudited) (unaudited) (unaudited)
Operating revenues    USD m    180.1	   162.1       142.9   
EBITDA	              USD m    141.4	   127.0       137.7   
Adjusted EBITDA	      USD m    110.7	   114.3        99.3   
Profit for 
the period	      USD m    119.7	   103.6       116.8   
Adjusted profit 
for the period	      USD m     88.9	    91.0        78.3   
Operating cash flow   USD m    135.0	   125.4        87.3   
EPS 	              USD       0.27	    0.23        0.26   
Adjusted EPS	      USD       0.20        0.21        0.18   
DPS*	              USD       0.22	    0.15        0.58
Total ownership days	       5,243	   5,336       5,410
Total trading days 	       4,928	   5,079       5,307
Utilization 	 	       97.1%	   97.8%       98.8%
Average TCE per day 	      30,989	  31,279      24,845
Average OPEX per day 	       6,397       6,937       6,287
Leverage ratio	               15.2%       16.1%       22.9%

*Dividends per share (DPS) comprises the recurring dividends per share and any
event-driven dividends per share declared during the period. In Q1 2023 and
event-driven dividend of USD 0.07 per share was paid on February 28, 2023. A
recurring dividend of USD 0.15 per share was resolved by the Board of Directors
on May 22, 2023, and will be paid on June 29, 2023. 

The above information is subject to the disclosure requirements pursuant to
section 5-12 of the Norwegian Securities Trading Act.

Q1 2023 Earnings Call:
Constantin Baack, CEO, and Moritz Fuhrman, CFO, will present the results in an
earnings call today at 15:00 CEST / 09:00 EST, followed by a Q&A session. The
earnings call can be followed live via webcast or conference call and questions
can be submitted orally or in writing. 

A recording of the earnings call will be available on demand at the Company's
website after the live event.

The Q1 2023 report and presentation materials are attached to this release and
available at the Company's website at
https://www.mpc-container.com/en/financial-reports/

The webcast can be accessed via the following link:
https://edge.media-server.com/mmc/p/n4t8jupy

For optimal viewing it is recommended to listen via computer speakers and to
avoid the use of VPN. Please disable pop-up blockers to view the content in its
entirety.

To participate via conference call, please register via the following link:
https://register.vevent.com/register/BI80f968ac8a7041d184c7c2995e43d9f6

Contact:
ir@mpc-container.com 

About MPC Container Ships
MPC Container Ships ASA (ticker code "MPCC") is a leading container tonnage
provider focusing on small to mid-size container ships. Its main activity is to
own and operate a portfolio of container ships serving 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.

***
Forward-looking statements:
This announcement includes forward-looking statements. Such statements are
generally not historical in nature, and specifically include statements about
the Company's plans, strategies, business prospects, changes and trends in its
business, the markets in which it operates and its restructuring efforts. These
statements are made based upon management's current plans, expectations,
assumptions and beliefs concerning future events impacting the Company and
therefore involve a number of risks, uncertainties and assumptions that could
cause actual results to differ materially from those expressed or implied in the
forward-looking statements, which speak only as of the date of this news
release. Consequently, no forward-looking statement can be guaranteed. When
considering these forward-looking statements, you should keep in mind the risks
described from time to time in the Company's regulatory filings and periodical
reporting. The Company undertakes no obligation to update any forward-looking
statements to reflect events or circumstances after the date on which such
statement is made or to reflect the occurrence of unanticipated events. New
factors emerge from time to time, and it is not possible for the Company to
predict all of these factors. Further, the Company cannot assess the impact of
each such factor on its business or the extent to which any factor, or
combination of factors, may cause actual results to be materially different from
those contained in any forward-looking statement.