MPC Container Ships ASA

M&A Activity • Aug 9, 2021

MPC Container Ships ASA completes acquisition of Songa Container AS

MPC Container Ships ASA completes acquisition of Songa Container AS

Oslo, 9 August 2021 - MPC Container Ships ASA ("MPCC" or the "Company") today

announces that it has completed its acquisition of Songa Container AS ("Songa")

pursuant to the share purchase agreement to acquire 100% of the shares in Songa

for a total value of USD 210.25 million on a debt and cash free basis, as

entered into and announced on 22 June 2021.

The consideration is paid partly in cash and partly in new shares, and in total

49,795,250 new shares are being issued in relation to the transaction. The

selling shareholders of Songa who are receiving consideration shares have

entered into customary undertakings with MPCC pursuant to which the

consideration shares are subject to lock-up of up to 3 months from completion of

the acquisition.

Constantin Baack, Chief Executive Officer of MPC Container Ships commented: "It

is with great pleasure we announce the successful closing of this milestone

transaction. Charter rates have continued to rise since the signing of the

agreement, improving the risk-reward dynamics of the transaction even further.

This transaction will have an immediate accretive impact on our earnings in a

surging container market. Our growing fleet reinforces our industry leading

position as an intra-regional trade tonnage provider. The visibility of strong

cash generation for the years ahead combined with an extremely low residual

value risk makes MPCC an attractive and unique investment opportunity during

these exciting times in container shipping."

Arne Blystad, Chairman of Songa Container AS commented: "We are excited to join

forces with MPCC. The Company is perfectly positioned to generate super profits

in the current strong container market and to consolidate this segment further.

The present market parameters constitute one of the most attractive

opportunities in container shipping in the last decades."

The above information is subject to the disclosure requirements pursuant to

section 5-12 of the Norwegian Securities Trading Act.

Further information and contact:

ir@mpc-container.com

About MPC Container Ships ASA:

MPC Container Ships ASA (ticker code "MPCC") was formed in April 2017. Its main

activity is to own and operate a portfolio of container ships serving intra

-regional trade lanes. The Company is registered and has its business office in

Oslo, Norway. For more information, please see our website: www.mpc

-container.com.

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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.