MPC Container Ships ASA (MPCC) has ordered six new container vessels as part of a broader fleet expansion and balance sheet optimization strategy, the company announced.
The six ships, each with a capacity of 3,700 TEU, will be built by Taizhou Sanfu Ship Engineering in China. First deliveries are scheduled for the second half of 2028. Each vessel will operate under a 10-year time charter, with extension options, to a top five global liner company.
According to MPCC, the vessels are based on a new design optimized for speed and fuel efficiency in regional and feeder trades. The ships are also designed with operational flexibility, allowing deployment across different trade lanes as market conditions evolve.
They will be prepared for alternative fuels and advanced emissions-reduction technologies, enabling compliance with increasingly stringent environmental regulations over their operating life.
The total investment for the six newbuildings amounts to USD 292.5 million. During the initial charter period, the project is expected to generate approximately USD 479 million in revenue and around USD 288 million in EBITDA. Financing will be structured through a balanced combination of equity and debt, supporting financial flexibility and a prudent capital structure.
Alongside the newbuilding order, MPCC announced the establishment of a new 50/50 joint venture with Uthalden AS. The joint venture will own two 4,500 TEU newbuildings that are currently wholly owned by MPCC and chartered to a top five liner company.
The transaction is expected to release committed capital and improve MPCC’s investment capacity, while bringing in an experienced shipping investor as a partner. The joint venture is expected to finance the majority of the vessels’ purchase price through moderate leverage.
MPCC also said it has upsized its existing undrawn revolving credit facility to USD 130 million, with a new maturity in 2030, while securing a reduced margin. The optimized facility is intended to enhance balance sheet flexibility and provide additional funding capacity for potential future acquisitions.
Despite the expansion initiatives, MPCC said its balance sheet remains conservatively structured, with low leverage and more than 50% of assets remaining debt-free.
As part of its ongoing fleet modernization, the company has agreed to sell the container vessel AS Clementina, which is approaching its 20-year class renewal in 2026, for USD 24 million. The handover is expected after the expiry of the current charter, towards the end of the second quarter of 2026. The transaction implies a net asset value of 34 Norwegian kroner per share.
“2025 has proven to be a transformational year for MPCC,” said Constantin Baack, CEO, MPC Container Ships ASA. “With yet another newbuilding order backed by a long-term charter with a top-tier counterparty, we now have 17 state-of-the-art newbuildings on order with deliveries from 2026 onwards.”
“These measures strengthen our strategic partnerships, enhance earnings visibility and reinforce our commitment to long-term value creation,” he added. “Our contracted backlog now exceeds USD 2 billion, providing exceptional visibility and positioning MPCC for sustainable growth and resilience in the years ahead.
I am also pleased that we have further advanced portfolio and financing initiatives, including teaming up with Uthalden, a trusted partner we have successfully worked with in the past.”
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