Norway’s MPCC Pursues Fleet Renewal with Four-Ship Newbuild Order
Norwegian boxship owner MPC Container Ships ASA (MPCC) is pushing ahead with a fleet renewal program after committing to invest $232 million in four newbuilds.
The company, which in recent months has been implementing a plan to divest less efficient vessels and pump investments into new tonnage, said that it has placed an order at Jiangsu Hantong Ship Heavy Industry for the construction of four 4,500 TEU container vessels. The newbuilds, each worth $58 million, are scheduled for delivery from the first half of 2028. The company has an option for two additional vessels at the same price.
MPCC highlighted that it has already secured a 10-year time charter with extension options for the four vessels with a leading global liner company. Both the company and the charterer collaborated in the vessel design and commercial structure to ensure an optimal fit for their network, operational profile, and long-term sustainability objectives.
The newbuilds, which will be financed through a balanced mix of equity and debt, will feature advanced energy-efficient technologies, reducing slot costs by about 50 percent compared to similar-sized peers.
The order for the four vessels is the latest that MPCC is making as part of its ongoing transition to a younger, more efficient, and environmentally compliant fleet. Last month, the company awarded contracts worth $66 million to Chinese Fujian Mawei Shipyard for two 1,600 TEU high cube container vessels whose deliveries are scheduled for the second half of 2027. THey will be deployed on fixed eight-year time charters.
In July, MPCC signed contracts for four 4,500 TEU container vessels with Chinese shipyard Taizhou Sanfu Ship Engineering worth a combined $228 million, with the newbuilds scheduled for delivery from the second half of 2027. Parallel to the newbuild contracts, the company announced the sale of three 1,300 TEU vessels for $32 million.
“Our fleet renewal strategy continues to gain momentum with this latest initiative,” said Constantin Baack, MPCC CEO. “With today’s announcement, MPCC has secured 10 newbuildings with attached charters this year, underscoring our ability to deliver value-accretive deals with top-tier partners and strengthen strategic customer relationships while reinforcing our commitment to long-term shareholder value.”
The Oslo-listed company, which operates a fleet of 54 vessels with an aggregate capacity of approximately 133,080 TEU, is upbeat over future market prospects. Its operating revenues increased to $138 million in the second quarter of 2025 compared to $131 million for the same period in 2024. MPCC saw its profits hit $78 million compared to $65 million in 2024.