en.Wedoany.com Reported - MPC Container Ships (MPCC) has agreed to acquire four eco-design conventional container vessels for a total transaction value of $340 million, each vessel accompanied by a three-year fixed-rate time charter contract with a top-five global liner company. This move aims to advance its fleet modernization plan.
The vessels, built in 2023 and 2024, each have a capacity of 7,000 TEUs and are expected to be delivered in October and November 2026, subject to inspection and customary closing conditions. Over the three-year charter period, the fixed-rate contracts are projected to generate $180 million in revenue and $140 million in EBITDA. The acquisition will be financed through a combination of bank loans and existing cash resources.
As part of its fleet renewal strategy, MPCC has also secured forward charters for two vessels and agreed to sell two non-strategic vessels. The company sold AS Selina for $24 million, expected to be delivered after its current charter expires between the end of Q4 2026 and early Q1 2027; and AS Angelina for $17 million, expected to be delivered in Q3 2026.
These transactions increase MPCC's contracted revenue backlog to $2.2 billion and raise its 2026 contract coverage to 99%, 2027 to 74%, and 2028 to 48%.
MPCC CEO Constantin Baack stated that global container shipping is undergoing a structural shift toward intra-regional trade, with feeder vessels and medium-sized ships with capacities up to 10,000 TEUs benefiting disproportionately, while the supply of modern, energy-efficient tonnage in this size segment remains insufficient. He believes these versatile workhorses, deployable on almost any trade route, are natural replacements for older classic Panama-type and first-generation post-Panamax vessels. In this context, the company is acquiring assets at attractive valuations, accompanied by a three-year guaranteed revenue contract with a top-five liner company, achieving meaningful de-risking while retaining significant upside potential.
Following the transaction, MPCC raised its 2026 revenue guidance from $450-460 million to $460-470 million and its EBITDA guidance from $260-280 million to $280-300 million.
Additionally, the company secured a $375 million fully underwritten senior secured term loan to finance 10 of the 16 newbuildings ordered last year. The financing, arranged by Société Générale, is supported by BNP Paribas, Crédit Agricole, ING, and Germany's KfW IPEX-Bank, with a term of 10 years after vessel delivery.
An additional $75 million financing for two 4,500 TEU newbuildings has also received credit approval and is expected to close in the second half of 2026.
MPCC Co-CEO and CFO Moritz Fuhrmann added that this financing milestone highlights the strength of the company's balance sheet and strong support from lending banks; the term loan funds 10 newbuildings on attractive terms, while the company still holds substantial cash, a debt-free fleet, and significant undrawn capacity under its revolving credit facility, enabling it to continue acting quickly and seizing attractive opportunities.
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