MPC Container Ships (MPCC) has taken another step in reshaping its fleet, signing contracts in China for six new boxships backed by long-term employment.
The Oslo-listed tonnage provider has ordered six 3,700 teu ships at Taizhou Sanfu Ship Engineering, with deliveries scheduled from the second half of 2028. Each vessel will be fixed on a 10-year charter, with extension options, to a top-five liner operator, giving MPCC long-dated earnings cover before the first hull hits the water.
The ships are based on a new design aimed at regional and feeder trades, with an emphasis on lower fuel consumption and flexible operating speeds. They are also prepared for alternative fuels and future emissions-reduction technologies, allowing the vessels to adapt as environmental rules tighten over their lifespan, the company said.
The project carries a total investment of $292.5m. MPCC said the initial charter period is expected to generate around $479m in revenue and approximately $288m in EBITDA. Financing will be split between equity and debt, a structure the company said preserves balance-sheet flexibility.
Alongside the newbuilding order, MPCC has set up a 50/50 joint venture with Norwegian investment vehicle Uthalden, controlled by Harald Moræus-Hanssen. The JV will own two 4,500 teu newbuildings that were previously wholly owned by MPCC and are already on charter to a top-tier liner company.
MPCC said the move will free up committed capital and sharpen its investment capacity, while allowing the vessels to be financed with moderate leverage at the joint venture level.
The latest deals cap a busy year for the feeder owner. In recent months, MPCC has ordered four 4,500 teu vessels in November, two 1,600 teu ships in October, and four 4,500 teu units in July, all in China and all backed by long-term charters.
Fleet renewal has also included selective asset sales. MPCC confirmed it has agreed to sell the AS Clementina, a vessel nearing its 20-year class renewal, for $24m. Delivery to the buyer is expected after the expiry of its current charter, towards the end of Q2 2026.
Chief executive Constantin Baack (pictured) described 2025 as a “transformational year” for the company, noting that MPCC now has 17 newbuildings on order, with deliveries starting from 2026. He added that the company’s contracted backlog has climbed above $2bn, giving strong earnings visibility and positioning MPCC for steady growth in a volatile market.
