MPC Container Ships acquires two 3,500TEU vessels, secures new charter

Norway’s MPC Container Ships (MPCC) has confirmed the acquisition of two 3,500TEU vessels and a charter agreement package for a total of 10 vessels. The charter also includes the two new acquisitions.

The acquisition consists of two 3,500 TEU vessels at a total price of US$47.25 million. The vessels are scheduled to be handed over from their current owner in the third quarter of 2024 and will be delivered into pre-agreed firm 36-month time charter contracts with an undisclosed liner company.

MPCC anticipates that these vessels will generate aggregate revenues of approximately US$55 million over the charter period. This will ensure the acquisition price is fully covered by the corresponding EBITDA and recycling value at the end of the charters.

In addition, MPCC has entered into an agreement to charter out five 1,700TEU and three 2,800TEU vessels on 24-to-26-month contracts to the same liner company.. These contracts are fixed approximately six months forward on average and will be delivered into their new charters during the fourth quarter of 2024 and the first quarter of 2025.