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Goldman Sachs builds up stake in MPC Container Ships

Goldman Sachs has accumulated a considerable stake in the Oslo-listed boxship owner, MPC Container Ships. 

The US investment bank said it holds around 22.54m shares, equivalent to a 5.08% stake. The shares, worth about $71m in today’s market, are, however, a result of client trading activity and not a direct Goldman Sachs investment, the company told Splash.

MPC has been enjoying the busy boxship market, swinging back to the black in 2021 with a net profit of $189.9m on revenues of $384.7m against a net loss of $64.5m on revenues of $171.9m in 2022. It expects 2022 revenues in the range of $550m to $575m.

The company recently executed its distribution plan with an event-driven distribution of around $150m paid in dividends in February. Together with the first recurring dividend to its shareholders of $0.11 per share, or around $50m set for payment this month, the distribution to shareholders in Q1 2022 alone totalled around $200m. The company owns and operates 66 container vessels, most of which are fully owned.

Adis Ajdin

Adis is an experienced news reporter with a background in finance, media and education. He has written across the spectrum of offshore energy and ocean industries for many years and is a member of International Federation of Journalists. Previously he had written for Navingo media group titles including Offshore Energy, Subsea World News and Marine Energy.
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