MPC Container Ships continues fleet expansion

The fledgling containership owner and operator has agreed to purchase a fleet of 14 feeder container vessels ranging in size from 1,300 TEUs to 2,800 TEUs for a total price of $139.5 million.    Fledgling containership owner and operator MPC Container Ships AS is continuing to grow it’s fleet at a rapid clip.
   The Norway-based company earlier this week agreed to acquire 14 more feeder container vessels for a total price of $139.5 million, according to a statement from the firm.
   The ships include four 1,300-TEU vessels, four 1,500-TEU, two 1,800-TEU, two 2,500-TEU, and two 2,800-TEU ships. The seller was not disclosed.
   MPC Container Ships said the acquisition will be paid for in cash from the company’s existing funds and the company will establish wholly-owned subsidiaries to take over the vessels.
   Following the expected takeover of these and other purchased vessels during first quarter 2018, the company’s fleet will consist of a total of 58 vessels.
   MPC Container Ships in December reported its first quarterly operating profit since its incorporation on Jan. 9, 2017 and beginning operating activity in April 2017.