What MPC Container Ships does

MPC Container Ships ASA (Oslo Stock Exchange: MPCC; OTCMKTS: MPZZF) is a publicly listed Norwegian container tonnage provider, founded in April 2017 and headquartered in Oslo, with regional offices in Hamburg (Germany) and Rhoon (Rotterdam, Netherlands). The company's purpose is to pursue conscious change in the container shipping industry by providing modern, fuel-efficient feeder and mid-size container tonnage (1,000-10,000 TEU) on long-term fixed-rate time charters to top-tier global liner operators and selected regional/industrial customers. As of Q1 2026, the fleet comprises 51 active vessels (~130,000 TEU) plus 17 newbuildings on order (~170,000 TEU total future capacity), with newbuilding deliveries scheduled from H2 2027 through 2028 and additional 7,000 TEU acquisitions delivered in late 2026.

The core "product" is the Container Tonnage Portfolio, delivered as Time Charter Services. Every newbuilding is pre-fixed with a 3- to 15-year fixed-rate time charter to a top-tier liner counterparty before delivery, generating a contracted revenue backlog of USD 2.2 billion (Q2 2026) with 99% charter coverage for 2026, 69% for 2027, and 41% for 2028. The technology base is the vessel design itself: eco-conventional 7,000 TEU vessels, dual-fuel methanol-capable 1,300 TEU newbuildings (the NCL VESTLAND achieves a 63% reduction in energy consumption per TEU vs. the existing fleet), dual-fuel-ready 4,500 TEU vessels with ~50% lower slot costs vs. peers, and 1,600 TEU high-cube designs optimized for Northern Europe trade. Onshore systems include a Sustainability-Linked Financing Framework (September 2024) and Green Finance Framework (April 2025), both with ABS Second Party Opinions, plus a listed USD 200m senior unsecured sustainability-linked bond (MPCC01 ESG, 7.375%, October 2029). Crewing and technical management are outsourced to Wilhelmsen Ship Management and Marlow Navigation; the company is not a software or AI business.

The business model is straightforward tonnage leasing at fixed daily TCE (Time Charter Equivalent) rates. Adjusted Average TCE was USD 25,040/day in Q1 2026, USD 25,551/day in Q4 2025, USD 26,523/day in Q3 2025, and USD 26,247/day in Q2 2025. Operating revenue was USD 118.9m in Q1 2026 and ~USD 517.9m for full-year 2025 (sum of quarterly figures). 2026 guidance was revised upward in Q1 2026 to USD 460-470m revenue and USD 280-300m EBITDA after the June 2026 acquisition. The go-to-market is senior-executive-led direct B2B sales to a narrow set of top-5 global liner operators, complemented by capital-markets visibility through DNB Carnegie, Pareto Securities, and Fearnley Securities conferences and a quarterly webcast IR programme. Secondary revenue comes from NAV-accretive divestments of older tonnage (USD 31.5m for three 1,300 TEU vessels in July 2025; USD 24m for AS Clementina in Dec 2025; USD 24m for AS Selina and USD 17m for AS Angelina in June 2026) and joint-venture income (50/50 Uthalden AS JV established December 2025). The capital allocation framework (revised May 2025) distributes 30-50% of net profit via quarterly dividends; MPCC has paid 17 consecutive quarterly dividends and returned >USD 1bn since February 2022. The balance sheet is conservative: 30.7% leverage ratio, 30 debt-free vessels, USD 130m undrawn RCF, and a diversified debt platform across sustainability-linked bonds, green term loans, and senior secured term loans.

Name

MPC Container Ships

Legal name

MPC Container Ships ASA

Website

https://mpc-container.com

Company type

Public

Founded year

2017

Operating status

Operating

Headcount range

11–50 employees

Short description

MPC Container Ships ASA is a publicly listed Norwegian container tonnage provider that owns and operates a fleet of small to mid-size container vessels (1,000-10,000 TEU), leased under 3- to 15-year fixed-rate time charters to top-tier global liner companies and selected regional/industrial customers serving intra-regional trade lanes.

Ownership category

akta.pro rank

Product category

Container Shipping Tonnage / Maritime Transportation

NAICS

Ship and Boat Building (33661), Ship Building and Repairing (336611)

SIC

Ship & Boat Building & Repairing (3730), Deep Sea Foreign Transportation Of Freight (4412)

akta.pro primary industry

Container Ship Shipbuilding (IMAJAAAB)

akta.pro secondary industry

Marine Terminals & Cargo Handling Infrastructure (RoRo, Bulk, Container) (IMAFAJAF)

Keywords

• Container shipping tonnage
• Feeder vessel operations
• Time charter services
• Container fleet ownership
• Maritime transportation leasing

Headquarters

HQ city

Oslo

HQ country

Norway

HQ region

Europe

Offices3 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Operations, Supply Chain, Infrastructure, Personnel, Technology or R&D, Marketing or Sales

Revenue model

1. Time charter revenue (fixed-rate): Core revenue from leasing the container vessel fleet to global liner companies under fixed-rate time charter contracts (3- to 15-year durations). Vessels are pre-fixed on long-term charters with leading global liner companies, generating contracted revenue backlog (e.g., USD 2.0–2.2 billion in 2025–2026). TCE (Time Charter Equivalent) per day is the standard industry performance measure.
2. Investment income from joint venture and asset sales: Income from divesting non-strategic older vessels (NAV-accretive) at attractive prices (e.g., AS Clementina USD 24m, AS Angelina USD 17m, AS Selina USD 24m) plus gains from establishing 50/50 joint venture with Uthalden AS to free up committed capital while maintaining a share of the underlying assets.

Pricing tiers

Go-to-market motion3 records

Distribution channels3 records

Marketing channels6 records

Core offering

MPC Container Ships ASA acquires and operates a fleet of small to mid-size container vessels (feeder segment 1,000-3,000 TEU and mid-size segment up to 7,000-10,000 TEU) and leases this tonnage to global liner companies under long-term fixed-rate time charter contracts. As of Q1 2026 the active fleet comprises 51 vessels (~130,000 TEU) with 17 newbuildings on order; new vessels are delivered with pre-fixed multi-year charters attached. The company also arranges financing for the fleet via sustainability-linked bonds, green term loans, senior secured term loans, revolving credit facilities, and Japanese sale-and-leaseback structures.

Product overview

MPC Container Ships ASA (Oslo Stock Exchange: MPCC) is a container tonnage provider whose overall offering is a single integrated business — owning and operating a portfolio of container ships (primarily 1,000-3,000 TEU feeder vessels and expanding into 4,500-7,000 TEU mid-size vessels) deployed on fixed-rate time charters to top-tier global liner companies. The core 'product' is the Container Tonnage Portfolio, which is delivered via Time Charter Services to charter customers. The portfolio is being reshaped by a multi-year fleet renewal program consisting of NCL VESTLAND (the first dual-fuel 1,300 TEU newbuilding, inaugurated in 2025), four 4,500 TEU newbuildings (H2 2027 deliveries), four 4,500 TEU newbuildings (H1 2028 deliveries), six 3,700 TEU newbuildings (H2 2028 deliveries), two 1,600 TEU newbuildings (H2 2027), and four 7,000 TEU eco-conventional vessels acquired in June 2026. This offering is supported by a Senior Unsecured Sustainability-Linked Bond 2024/2029 (MPCC01 ESG, USD 200m, 7.375% coupon) and a governance infrastructure including the MPCC Integrity Line whistleblower hotline. The company does not sell a software platform, SaaS product, or technology product to end customers.

Differentiator

Problem solved

Functional benefit

Products and services

• Container Tonnage Portfolio (Fleet) MPC Container Ships' core offering is a portfolio of owned and operated container vessels (small to mid-size, including feeder 1,000-3,000 TEU and mid-size 4,500-7,000 TEU vessels) deployed on fixed-rate time charters serving intra-regional trade lanes. As of Q1 2026 the active fleet consists of 51 vessels (~130,000 TEU) with 17 newbuildings on order bringing total capacity to ~170,000 TEU.
• Fixed-Rate Time Charter Services Fixed-rate time charter services to top-tier global liner companies. The contracted revenue backlog reached USD 2.2 billion in June 2026, with 99% charter coverage for 2026, 74% for 2027, and 48% for 2028. Customers include top-5 liner operators and partners such as North Sea Container Line (NCL), Elkem, and other global liner companies.
• NCL VESTLAND (Dual-Fuel 1,300 TEU Container Vessel) Dual-fuel (methanol-capable) 1,300 TEU container feeder vessel; the first dual-fuel newbuilding in the MPCC fleet. Operates a green transportation corridor in Northern Europe powered by biomethanol under a 15-year time charter to NCL and a 15-year Contract of Affreightment with Elkem ASA, transporting Norwegian industrial goods and critical materials to European and international markets.
• 4,500 TEU Newbuildings (H2 2027 deliveries) Four 4,500 TEU container vessels ordered from Taizhou Sanfu Ship Engineering (China), each on a 3-year time charter to a leading global liner company. Dual-fuel ready, enabling future conversion to ammonia or methanol and aligning with maritime decarbonization goals. ~50% lower slot costs versus peer vessels of similar size.
• 1,600 TEU High Cube Newbuildings Two 1,600 TEU high cube container vessels with state-of-the-art fuel-efficient design optimized for the Northern Europe trade and restricted channels. Ordered from Fujian Mawei Shipyard (China) with each vessel attached to an 8-year time charter (plus 2-year optional period) to a leading global liner company.
• 4,500 TEU Newbuildings (H1 2028 deliveries) Four 4,500 TEU container vessels ordered from Jiangsu Hantong Ship Heavy Industry (China), each under a 10-year time charter (with extension options) to a leading global liner company. Optimized for cost efficiency and prepared for future alternative-fuel conversion.
• 3,700 TEU Newbuildings Six 3,700 TEU container vessels ordered from Taizhou Sanfu Ship Engineering (China), each under a 10-year time charter with extension options to a top-5 liner company. Optimized for speed and fuel consumption for regional and feeder trades with flexibility across trade lanes; prepared for alternative fuels and advanced emissions-reduction technologies.

Quantifiable outcome

• USD 2.2 billion contracted revenue backlog as of June 2026 (up from USD 1.1 billion in Q1 2025)
• +9 more outcomes

Named customers9 records

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration3 records

Feature7 records

Partnerships

17 partnerships are on record, tiered core, flagship and minor.

• Wilhelmsen Ship ManagementcoreImplementation/ SI/ Consulting PartnerCrewing partner for all seafarers aboard MPCC vessels. All crewing matters are cooperated on with Wilhelmsen Ship Management and Marlow Navigation. Seafarer applications are submitted directly via Wilhelmsen's recruitment page.
• Marlow Navigation LtdcoreImplementation/ SI/ Consulting PartnerCrewing partner for all seafarers aboard MPCC vessels. Seafarer applications are submitted directly via Marlow Navigation's careers page. Operates alongside Wilhelmsen Ship Management.
• North Sea Container Line AS (NCL)flagshipStrategic or Co-development PartnerCo-development partner for biomethanol-powered container shipping in Northern Europe. Inaugurated NCL VESTLAND in Haugesund (April 2025); 15-year time charter counterparty for two dual-fuel 1,300 TEU newbuildings. Elkem owns 40% of NCL. The project set up a green transportation corridor between Western/Central/Northern Norway and Rotterdam.
• Elkem ASAflagshipStrategic or Co-development PartnerStrategic partner and 15-year Contract of Affreightment (CoA) counterparty for the NCL VESTLAND operation. Elkem owns 40% of NCL; together with NCL and MPCC, established a green container shipping supply chain along the Norwegian coastline. Project received NOK 13.7m from Enova and NOK 60m from the NOx fund.
• Equinor (bioethanol sourcing)minorStrategic or Co-development PartnerBioethanol sourcing partner for the biomethanol-powered NCL VESTLAND operation supporting Elkem. Supplies renewable fuel feedstock for the green shipping corridor.
• Uthalden AScoreStrategic or Co-development Partner50/50 joint venture partner established in December 2025. The JV owns two 4,500 TEU newbuildings on charter to a top-5 liner company, freeing up committed capital and optimizing MPCC's investment capacity. Uthalden is described as a 'trusted partner we have successfully worked with in the past.'
• Taizhou Sanfu Ship Engineering (China)flagshipOEM/ Whitelabel/ Licensing PartnerChinese shipyard partner for MPCC's newbuilding program. Order of four 4,500 TEU vessels (July 2025, USD 228m) and an additional six 3,700 TEU vessels (December 2025, USD 292.5m) with deliveries scheduled from 2H 2027 and 2H 2028 respectively.
• Fujian Mawei Shipyard (China)coreOEM/ Whitelabel/ Licensing PartnerShipyard partner for two 1,600 TEU high-cube newbuildings (October 2025, USD 66m total) with 8-year charters, optimized for Northern Europe trade and restricted channels. Deliveries scheduled 2H 2027.
• Jiangsu Hantong Ship Heavy Industry Co. Ltd. (China)flagshipOEM/ Whitelabel/ Licensing PartnerShipyard partner for four 4,500 TEU newbuildings (November 2025, USD 58m per vessel / ~USD 232m total) under 10-year time charters with extension options to a leading global liner. Deliveries starting 1H 2028. Options for two additional vessels at the same price.
• Fearnley Securities (equity analyst)minorOthersProvides equity research coverage on MPCC (analyst Fredrik Dybwad); also hosts the Fearnley Securities High Yield Conference where MPCC presented. Listed on the company's Analyst Coverage page.
• DNB Markets (equity analyst)minorOthersProvides equity research coverage on MPCC (analyst Jørgen Lian); also hosts the DNB Carnegie Energy & Shipping Conference 2026 where MPCC presented. Listed on the Analyst Coverage page.
• Arctic Securities (equity and debt analyst)minorOthersProvides both equity (Kristoffer Barth Skeie) and debt (Alexander Jost) research coverage on MPCC. Listed on the Analyst Coverage page.
• Clarksons Securities (equity analyst)minorOthersProvides equity research coverage on MPCC (analyst Frode Mørkedal). Listed on the Analyst Coverage page.
• Pareto Securities (equity and debt analyst)minorOthersProvides both equity (August Klemp) and debt (Magnus Hjermann) research coverage on MPCC; also hosts the Pareto Securities Energy Conference where MPCC presented. Listed on the Analyst Coverage page.
• Ernst & Young AScoreImplementation/ SI/ Consulting PartnerIndependent auditor of MPC Container Ships ASA, elected by the general meeting. Ernst & Young participates in Risk & Audit Committee meetings covering interim, quarterly and annual financial reporting, board meetings dealing with annual accounts, and the annual general meeting. First appointed via the EGM of May 2017.
• MPC Capital AGflagshipOthersFounding shareholder and sponsor of MPCC since its inception in 2017. Rooted in MPC Capital AG's extensive shipping experience, MPCC has undergone rapid growth to become one of the world's leading container tonnage providers.
• CMS Kluge Advokatfirma AS (Ove André Vanebo)minorImplementation/ SI/ Consulting PartnerExternal Data Protection Officer (Ove André Vanebo) advising on GDPR compliance and processing of personal data for the company.

Scale indicators26 records

Recent moves10 records

Expansion highlights6 records

Direct peers

• Global Ship Lease: Global Ship Lease (NYSE: GSL) owns and charters a fleet of mid-size and smaller containerships (1,000-10,000 TEU) to liner operators on fixed-rate time charters. Closest direct comparable to MPCC in vessel class focus, business model (tonnage provider), and customer base of top-tier liner companies.
• Costamare: Costamare (NYSE: CMRE) is a Greek containership owner with a fleet across multiple vessel classes including feeder and mid-size segments, deploying on time charters to liner operators. Comparable vessel ownership profile and liner customer base to MPCC, with similar exposure to long-term fixed-rate contracts.
• Danaos Corporation: Danaos Corporation (NYSE: DAC) is a Greek containership owner with one of the largest fleets of TEU capacity, deploying vessels on multi-year charters with major liner companies. Comparable to MPCC in the container tonnage provider business model, although Danaos skews toward larger Post-Panamax vessels.
• Euroseas Ltd. Euroseas (NASDAQ: ESEA) owns and operates feeder and intermediate containerships on time charters, with a focused mid-size segment strategy. Closely comparable to MPCC's feeder segment focus and use of long-term fixed-rate charter arrangements with liner customers.
• Capital Product Partners: Capital Product Partners (NASDAQ: CPLP) is a shipping partnership with significant containership exposure alongside tankers and bulkers. Comparable to MPCC in the containership chartering model, though CPLP operates as a partnership with a more diversified asset portfolio.
• Seaspan Corporation: Seaspan (NYSE: SSW / TSX: SSW) is one of the world's largest containership lessors with a fleet deployed on long-term bareboat and time charters to liner operators. Direct comparable to MPCC's tonnage provision model, though Seaspan skews toward larger vessels.

Broad incumbents

• ZIM Integrated Shipping Services: ZIM (NYSE: ZIM) is a global liner operator with significant chartered-in tonnage. While primarily an operator rather than owner, ZIM is a major customer-base comparator for MPCC and operates a substantial fleet of chartered vessels in similar intra-regional and mid-size trade lanes.
• Hapag-Lloyd: Hapag-Lloyd (XETRA: HLAG) is one of the world's top-5 liner operators and a key customer-type for MPCC. While a liner operator rather than tonnage provider, it represents the customer profile MPCC serves and provides benchmark visibility into demand for mid-size tonnage.

Others

• Star Bulk Carriers: Star Bulk (NASDAQ: SBLK) is a global dry bulk shipping owner. While operating in a different shipping segment, it is a comparable public-listed Greek-affiliated shipping tonnage provider with similar capital allocation philosophy, dividend focus, and modern fleet renewal approach.
• BW LPG: BW LPG (OSE: BWLPG) is a public LPG carrier owner with Norwegian listing similar to MPCC. While operating in a different shipping segment, BW LPG provides a comparable public-listed Norwegian shipping tonnage provider profile with long-term time charter contracts and dividend-focused capital allocation.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat7 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/mpccontainer

Compliance6 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles6 records

Subsidiaries3 records

Funding overview

Funding rounds6 records

Investors8 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A1 record

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about MPC Container Ships