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04 December 2021 The on-line newspaper devoted to the world of transports 19:02 GMT+1

November 19, 2021

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Original news
New record quarterly report of MPC Container Ships

In the period July-September revenues increased by +187,6%

MPC Container Ships, like other rental companies of carriers, is benefiting from the phase exceptionally positive of the maritime transport market containerized. The Norwegian company was established in 2017 and, after a contraction in financial results lasting for almost two years, from the beginning of 2021 began to record a sudden and marked improvement in performance economic that in the third quarter of this year has allowed the company to obtain values of balance sheet items never so High.

In the period July-September 2021 the revenues of MPC Container Ships amounted to $118.5 million, up from +187.6% on the same quarter last year. EBITDA has marked an increase of +2,638.5% to 73.6 million Dollars. Operating profit and net income were equal respectively at 58.8 million and 46.4 million dollars against both negative results for -11.4 million and -17.8 millions of dollars in the third quarter of 2020.

In the first nine months of this year, revenues totalled 242,2 million dollars, with a progression of +91.7% on the period January-September of 2020. EBITDA was 127.7 million dollars (+998.0%). Operating profit and net profit were $86.1 million and $61.9 million against negative results for -29.4 million and -46.1 million in the first nine months of last year.

Commenting on these results, the CEO of the company, Constantin Baack, explained that MPC Container Ships continues to benefit from a containerized shipping market historically at the highest "with - he specified - a significant growth in rental rates and rates. That - he specified - is further amplified by the global supply chain dysfunctions, a situation we believe unlikely to be relieved soon. In this unique context of market, renters continue to compete to get tonnage, while it is expected that in the next two to three years new buildings will be delivered only in limited numbers. There we expect the favourable conditions for a intense portacontainer will continue."

As of September 30, the MPC Container Ships fleet was consisting of 75 carriers, of which 67 are entirely owned and eight in co-ownership.

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