MPC Contanier Ship Expands Fleet with Two Deals

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The Oslo-based shipping firm, MPC Container Ships has continued its fleet expansion with the addition of two more container vessels.

The company purchased a 2,564 TEU vessel, which will be named AS Petulia and a 1,200 TEU ship, to be named AS Frida. The two container ships were built in 2008 and 2003 respectively.

The total investment for the two vessels is USD 18.4 million. AS Petulia and AS Frida are scheduled to join their new owner in November 2017.

With the latest acquisition, MPC Container Ships has increased its fleet to 25 vessels. Since its establishment in April this year, MPC has frequently purchased second-hand vessels.

In September, MPC Container Ships announced an investment in three vessels, amounting to USD 21.6 million, including working capital requirements and dry dock reserves.

The acquisition was made after the company completed a senior secured bond issue of USD 100 million. The net proceeds from the bond issue were assigned for financing acquisitions of additional container vessels and for general corporate purposes.

Sea News, October 27