MPC Container Ships Reports Q1 2026 Results
Oslo, Norway, 27 May 2026 - MPC Container Ships ("MPCC" or the "Company", Oslo Børs Ticker: MPCC), today presented its quarterly results for the first quarter of 2026. The Company delivered another quarter with solid operational and financial performance, supported by a strong contract backlog with 99% of open days covered in 2026, 69% in 2027 and 41% in 2028.
Highlights Q1 2026:
* Charter backlog of USD 2.0 billion with 99% contract coverage for 2026 and high coverage for 2027 (69%), as well as 2028 (41%)
* Quarterly recurring dividend of USD 0.04 per share
* Financial guidance for 2026 of operating revenues in the range of USD 450-460 million and EBITDA in the range of USD 260-280 million
* Continued robust operations with very high fleet utilization of 99.1% (Q1 2025: 96.0%) and adj. average TCE of USD 25,040 per day (Q1 2025: USD 25,441)
* Operating revenues of USD 118.9 million (Q1 2025: USD 127.1 million) and EBITDA of USD 68.0 million (Q1 2025: USD 77.8 million). EBITDA adjusted for non-recurring items was USD 67.1 million (Q1 2025: USD 66.2 million)
* The balance sheet remains solid, with 30 debt-free vessels and a leverage ratio of 30.7%
* The Group's fleet consisted of 51 vessels, with an aggregate capacity of approximately 130,000 TEU. Additionally, the Group has 17 newbuildings on order, bringing the total capacity to approximately 170,000 TEU
CEO Constantin Baack comments: "The first quarter of 2026 marked a solid start to the year for MPC Container Ships, against one of the most disrupted operating environments in recent years. In the segments where MPCC operates, we continue to see limited availability of modern feeder tonnage and an orderbook concentrated in larger vessels underpinning a favorable supply/demand balance."
Co-CEO and CFO Moritz Fuhrmann added: "By closing a revised and upsized RCF with HCOB, we have further strengthened our balance sheet flexibility and investment capacity, ensuring that MPC Container Ships can act decisively across market cycles. The consistent execution of our capital allocation strategy has resulted in a significant reduction in debt costs over the past years, combined with a manageable leverage ratio of around 30%. With 30 debt free vessels, our balance sheet remains conservatively structured, giving us the flexibility to fund our fleet renewal program while maintaining sustainable distributions to shareholders."
The results will be presented in an earnings call today at 15:00 CEST, followed by a Q&A session. The earnings call can be accessed through the following link: https://qcnl.tv/p/hnx5G9unnRz9P0PV6YabpQ
For more information, contact: ir@mpc-container.com
About MPC Container Ships: MPC Container Ships ASA (ticker code "MPCC") is a leading container tonnage provider focusing on small to mid-size container ships. Its main activity is to own and operate a portfolio of container ships serving intra-regional trade lanes on fixed-rate charters. The Company is registered and has its business office in Oslo, Norway. For more information, please visit www.mpc-container.com.
Forward-looking statements: This announcement includes forward-looking statements. Such statements are generally not historical in nature, and specifically include statements about the Company's plans, strategies, business prospects, changes and trends in its business, the markets in which it operates and its restructuring efforts. These statements are made based upon management's current plans, expectations, assumptions and beliefs concerning future events impacting the Company and therefore involve a number of risks, uncertainties and assumptions that could cause actual results to differ materially from those expressed or implied in the forward-looking statements, which speak only as of the date of this news release. Consequently, no forward-looking statement can be guaranteed. When considering these forward-looking statements, you should keep in mind the risks described from time to time in the Company's regulatory filings and periodical reporting. The Company undertakes no obligation to update any forward-looking statements to reflect events or circumstances after the date on which such statement is made or to reflect the occurrence of unanticipated events. New factors emerge from time to time, and it is not possible for the Company to predict all of these factors. Further, the Company cannot assess the impact of each such factor on its business or the extent to which any factor, or combination of factors, may cause actual results to be materially different from those contained in any forward-looking statement.
This information has been submitted pursuant to the Securities Trading Act § 5-12 and MAR. The information was submitted for publication, through the agency of the contact persons set out above, at 2026-05-27 07:00 CEST.