MPC Container Ships ASA — M&A Activity 2018

Mar 16, 2018

Fleet acquisition

Fleet acquisition

Oslo, 16 March 2018 - MPC Container Ships ASA (MPCC, the "Company") is pleased to announce that it has entered into agreements to acquire a fleet of five feeder container ships presently managed and operated by Simatech Shipping & Forwarding L.L.C., Dubai. The fleet consists of the following vessels: Sima Pride (1,201 TEU, built 2004), Sima Perfect (1,221 TEU, built 2005), Sima Prestige (1,221 TEU, built 2005), Sima Sapphire (1,440 TEU, built 2006) and Sima Sadaf (1,440 TEU, built 2007).

The total purchase price for the vessels is USD 41.9m and will be settled in cash.

Physical takeover of the vessels is expected to take place in the first half of 2018, lifting the total fleet of the Company to 64 feeder units. The Company will establish wholly-owned subsidiaries to take over the vessels.

Further information and contact: ir@mpc-container.com