MPCC Orders Four New Container Ships from China

MPC Container Ships (MPCC) has entered into contracts with Jiangsu Hantong Ship Heavy Industry in China for the construction of four 4,500 TEU container vessels, scheduled for delivery starting first half of 2028.

The contract price per vessel is $58 million and the agreement includes options for two additional vessels at the same price.

Each vessel will operate under a 10-year time charter, with extension options, for a leading global liner company.

The vessel design and commercial structure were optimized collaboratively with the charterer to ensure an optimal fit for their network, operational profile, and long-term sustainability objectives, MPCC said.

The initial charter period is expected to generate approximately $375 million in revenue and around $242 million in EBITDA, according to the company.

The vessels will feature advanced energy-efficient technologies, reducing slot costs by about 50% compared to similar-sized peers.

The project will be financed through a balanced mix of equity and debt, ensuring financial flexibility and maintaining a prudent capital structure.

“Our fleet renewal strategy continues to gain momentum with this latest initiative. I would like to thank the teams on both sides for the constructive dialogue and the trustful cooperation over the past months, which has been essential in bringing this project to fruition.

“With today’s announcement, MPCC has secured 10 newbuildings with attached charters this year, underscoring our ability to deliver value-accretive deals with top-tier partners and strengthen strategic customer relationships – while reinforcing our commitment to long-term shareholder value,” said Constantin Baack, CEO of MPCC.