MPC Container Ships adds six more vessels

MPC Container Ships adds six more vessels

MPC Container Ships has announced the acquisition of six vessels taking its fleet to 20 vessels in total.

MPC has acquired from various owners five 1,300 teu vessels and a 2,700 teu vessel, spending $57m in the process. MPC says the amount includes drydocking reserves and that at current market charter rates all of the vessels will generate positive cash flow.

The six vessels are all expected to be delivered by the end of September 2017. Upon completion, MPC will still have around $35m remaining from two private placements which raised $175m for fleet additions.

MPC Container Ships was set up by Germany’s MPC Capital in April, listing in Oslo, with a focus to own and operate a portfolio of feeder container ships between 1,000 and 3,000 teu.

Grant Rowles

Grant spent nine years at Informa Group based in London, Sydney, Hong Kong and Singapore. He gained strong management experience in publishing, conferences and awards schemes in the shipping and legal areas, working on a number of titles including Lloyd's List. In 2009 Grant joined Seatrade responsible for the commercial development of Seatrade’s Asia products. In 2012, with Sam Chambers, he co-founded Asia Shipping Media.

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