The fastest growing containership operator in the world reckons prices are still attractive enough to carry on its buying spree. MPC Container Ships, founded in April last year, has already built up a fleet of more than 40 ships and has outlined plans to carry on until it hits 100 vessels.
In its annual report, published yesterday, the Oslo-listed German company stated: “Despite observable increases in secondhand vessel prices, in the view of the Company, the current price level still offers an attractive entry point for further acquisitions. As such, the Group intends to further grow its fleet through accretive acquisitions in 2018.”
The company said its chartering strategy is to employ all vessels at fixed time charters with varying short- to mid-term durations, depending on market opportunities.
The feeder specialist registered a net loss of $2.5m for its first year, but is bullish on prospects in 2018.
“Following a year of improving market conditions and against a backdrop of strong economic data, the outlook for 2018 is positive for the shipping industry. Container trade growth is expected to surpass capacity growth, leading to further gains in favor of tonnage providers,” the company stated in its annual report, adding: “While deliveries of larger vessels could slow the recovery for certain segments above 3,000 TEU, the feeder segment is expected to benefit from moderate fleet growth and high demand in intra-regional trades. Due to a number of commercial and physical restrictions, cascading of tonnage above 3,000 TEU onto intra-regional trade routes is expected to remain limited.”