Highlights

  · Strong operating revenues of USD 147.5 million.
  · EBITDA was USD 96.1 million, compared to USD 141.4 million in Q1 2023. Adj.
for non-recurring items, EBITDA was USD 96.3 million compared to USD 110.7
million in Q1 2023.
  · Profit for the period was USD 76.5 million. Adj. for non-recurring items,
the profit for the period was USD 76.7 million compared to USD 88.9 million in
Q1 2023.
  · Adj. EPS was USD 0.17 (Q1 2023: USD 0.20) and the Board has declared a
quarterly recurring dividend of USD 0.13 per share.
  · Average TCE was USD 27,452 per day in Q1 2024, compared to USD 30,989 in Q1
2023.
  · Fleet utilization was 98.9%, up from 97.1% in Q1 2023.
  · Subject to certain assumptions, the financial guidance for 2024 has been
increased to operating revenues in the range of 475-490 million (previous: USD
435-470 million) and EBITDA in the range of USD 280-305 million (previous: USD
240-280 million).
  · As at March 31, 2024, the Group's fleet consisted of 56 vessels, with an
aggregate capacity of approximately 126,035 TEU.

Commenting on MPCC's results in the first quarter, Co-CEO and CFO Moritz
Fuhrmann, said:

"MPCC delivered robust operational and financial performance in the first
quarter. Our revenues were bolstered by high utilization, driven by the
rescheduling of several dry-docks to the latter half of the year. We maintained
a strong balance sheet, operating with low leverage of 13.2% and with net debt
of negative USD 22.4 million at the end of the quarter, reflecting our
commitment to maintaining financial strength and strong liquidity.

We also remain committed to providing strong shareholder returns. The Board has
declared a recurring dividend of USD 0.13 per share for the first quarter,
amounting to USD 57.7 million, bringing the year-to-date dividend yield to
approximately 20%. Additionally, we ended the quarter with a charter backlog of
USD 0.9 billion and contract coverage for 84% of open days remaining for 2024
and 47% for 2025, ensuring continued good earnings visibility."

Reflecting on recent market trends and the future outlook, CEO Constantin Baack
added:

"The shipping industry continues to be faced with geopolitical events,
particularly the ongoing Red Sea Crisis and vessel attacks by the Houthi
movement. These events have led carriers to reroute vessels around the Cape of
Good Hope, disrupting supply-demand dynamics and resulting in significantly
increased freight- and charter rates.

Over recent months, the market has firmed up considerably, with smaller vessels
now being fixed on charters for 12 to 24 months or longer and increasingly on
forward charter positions, driving an improved contract coverage and earnings
visibility.  Still, outlook remains uncertain due to the potential resolution of
the Red Sea Crisis and the increased supply of new vessels in the larger
segments, which could change the current supply-demand dynamics.

Our continued strong results highlight our resilience and agility amid a dynamic
market landscape. We have maintained our financial strength and made further
progress in our fleet renewal and optimization efforts. As we move forward, we
remain committed to leveraging our strong financial foundation, operational
excellence, and sustainable initiatives to seize emerging opportunities, drive
growth, and maximize shareholder value."

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

Q1 2024 Earnings Call:

Constantin Baack, CEO, and Moritz Fuhrmann, Co-CEO and CFO, will present the
results in an earnings call today at 15:00 CET / 09:00 ET, followed by a Q&A
session. The earnings call can be accessed live via webcast and questions can be
submitted in writing. A recording will be available on demand at the Company's
website after the live event has concluded.

The Q1 2024 report and presentation materials are attached to this release and
available on the Company's website: https://www.mpc-container.com/investors/

The webcast can be accessed through the following link:
https://channel.royalcast.com/landingpage/hegnarmedia/20240528_1/

For more information, 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.