MPC Container Ships ASA: Exercise of Additional Options for Exhaust Gas Cleaning Systems ("scrubbers") and Charter Agreements for Charters for Scrubber-retrofitted Vessels

OSLO, Norway, Nov. 30 2018 /PRNewswire/ -- Following the announcement made on 14 November 2018, MPC Container Ships ASA (the "Company") is pleased to announce that it has exercised options to equip additional five vessels with exhaust gas cleaning systems ("scrubbers") and that charters for six scrubber-retrofitted vessels have been agreed. The charterparties will be initiated after scrubber retrofitting and with a duration into 2022. The agreements are concluded at favourable rates and are expected to yield attractive returns for the Company. The scrubber investments are expected to be financed with cash on hand and available debt capacity on the Company's existing fleet.

The Company seeks to take advantage of the optionality of its scrubber programme by meticulously analysing further retrofits on a vessel by vessel basis. In this context, the Company is already in dialogue with various liner companies on further scrubber-linked employment concepts.

CEO Constantin Baack comments in relation to the announcement: "We are excited to have concluded charters for six scrubber-retrofitted vessels in our fleet. The transaction adds charter coverage at attractive rates and provides significant upside potential post 1 January 2020. Equally important, the transaction demonstrates an increasing interest from liner companies for scrubber-linked charters and MPC Container Ships is well-positioned to become a preferred partner for charterers through the platform and the flexibility it has to offer to its customers."

Further information and contact: 

ir@mpc-container.com 

About MPC Container Ships ASA: 

MPC Container Ships ASA (ticker code "MPCC") was formed in April 2017. Its main activity is to own and operate a portfolio of container ships with a focus on the feeder segment between 1,000 and 3,000 TEU. The Company is registered and has its business office in Oslo, Norway. For more information, please see our webpage: www.mpc-container.com

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SOURCE MPC Container Ships ASA