MPC Container Ships ASA

OSE:MPCC

Strong quarter: MPCC reported $170 million of operating revenue, $65 million of adjusted EBITDA and a $0.04 per-share dividend, marking its 19th consecutive distribution.

Visibility: Contract revenue backlog remained at $2.2 billion, with coverage of 99% for 2026, 85% for 2027, 60% for 2028 and 39% for 2029.

Fleet renewal: The company acquired four modern 7,000 TEU vessels for $340 million, backed by three-year charters, and raised USD 107 million through an oversubscribed private placement to restore investment capacity.

Market: Charter conditions stayed firm as vessel availability tightened, liners fixed ships further ahead and demand benefited from underlying growth, front-loading and trade-route disruptions.

Balance sheet: Pro forma liquidity was around $680 million, net debt was close to zero and leverage was 28.4%, providing room for further acquisitions.

Capital returns: Management said its existing dividend policy remains unchanged and that growth investments should not come at the expense of stable shareholder returns.

Guidance: Previously updated revenue and EBITDA guidance remained unchanged; vessel sales could create additional EBITDA book gains.