MPC Container Ships acquires six more vessels

The ocean carrier subsidiary of German investment and asset management firm MPC Capital will take ownership of six containerships ranging in capacity from 1,300 TEUs to 2,700 TEUs in September, at which point its fleet will total 20 vessels.    Upstart ocean carrier MPC Container Ships AS has acquired six container vessels from various owners for a total cost of $57 million, the company announced on Wednesday.
   Five vessels of the vessels have a capacity of 1,300 TEUs while the sixth has a capacity of 2,700 TEUs. The acquisition will be made final in September, bringing the total number of ships in the company’s fleet to 20 vessels.
   The company’s investment for the fleet includes working capital and dry docking reserves.
   “Given current market charter rates, all vessels generate positive operating cash flows,” said the company.
   After the transaction is completed, around 80 percent of the gross proceeds of $175 million from two equity private placements in April and June 2017 will have been successfully deployed, the company said.
   MPC Container Ships last took ownership of two 2,834-TEU vessels in June and seven vessels ranging from 966 TEUs to 2,824 TEUs the month before that. Ahrenkiel Steamship manages six of the vessels with a third party managing the rest.