MPC Container Ships ASA (MPZZF), a Norwegian owner and operator of container vessels, said on Friday that it has placed a $228 million order for four 4,500 TEU container vessels with secured 3-year charters.
Chinese shipyard Taizhou Sanfu Ship Engineering Co. Ltd. will supply these container vessels. The deliveries are scheduled to begin in the second half of 2027.
Each vessel has been fixed on a 3-year time charter with a global liner company, which is expected to generate around $140 million in revenue and around $100 million in EBITDA over the contracted charter period.
The project will be financed through a balanced mix of equity and debt to ensure flexibility and a prudent capital structure.
In addition, MPCC will divest three non-strategic 1,300 TEU vessels for a total consideration of $31.5 million, with existing charters attached. The average age of the sold vessels is 18 years, and the transactions imply a NAV of NOK 25-26 per share.
These sales will reduce the revenue backlog by around $10 million.
Further, in line with the current positive container market environment, MPCC has secured new 2-year charter contracts with two top-tier liner companies for four vessels.
Citing these developments, MPC Container Ships has revised up its annual EBITDA outlook to the range of $320 million to $335 million from the previously announced $320 million to $335 million.
The company, however, reaffirmed its full-year revenue guidance of $485 million to $500 million.
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