MPC Container Ships (MPCC) has strengthened its fleet with two secondhand units and secured long-term employment for 10 vessels, including the latest purchases.
The Oslo-listed tonnage provider will be adding a brace of 2009-built 3,500 teu vessels in the third quarter of 2024 for $47.25m.
The duo has already been fixed for 36 months with an unnamed top-tier liner in a deal worth around $55m.
The deal ensures the acquisition price is fully covered by the corresponding EBITDA and recycling value at the end of the charters, MPCC said.
Furthermore, five 1,700 teu and three 2,800 teu ships have been forward fixed on 24- to 26-month contracts to the same liner at what the company described as attractive rates. The new contracts will kick in during the fourth quarter of 2024 and the first quarter of 2025.
MPCC said the new charters would add $155m to $195m to its backlog and boost contract coverage to 90% of open days remaining in 2024 and 64% in 2025.
Moritz Fuhrmann, co-CEO and chief financial officer at MPCC, said the “value-enhancing” move is in line with the current strong and dynamic market and that the acquisition, together with a comprehensive charter package on existing vessels, underscores the company’s strong competitive position and ability to secure attractive agreements with top-tier liners.