MPC Container Ships ASA

Regulatory Filings • Jul 4, 2022

MPCC orders two carbon-neutral 1,300 TEU newbuildings in partnership with industrial group Elkem and North Sea Container Line

MPCC orders two carbon-neutral 1,300 TEU newbuildings in partnership with industrial group Elkem and North Sea Container Line

Oslo, 4 July 2022 - MPC Container Ships ASA ("MPCC" or the "Company", and

together with its subsidiaries, the "Group") is pleased to announce the

following company update:

· MPCC has contracted two carbon-neutral 1,300 TEU newbuildings at Chinese

-based shipyard Taizhou Sanfu Ship Engineering for delivery in the second half

of 2024.

· The vessels come with a dual fuel engine setup which enables operation on

methanol as well as conventional MGO, allowing MPCC to take a significant leap

forward in its commitment to use carbon-neutral solutions in regional container

trades together with strong partners.

· The vessels come with 15-year time charters to North Sea Container Line AS

(NCL), backed by CoAs from various parties, including a 15-year CoA with

Norwegian industrial group Elkem ASA.

· The contract price of USD 39m per vessel is covered by the contracted cash

flows from the 15-year time charter with NCL at an initial rate of EUR

~16,300/day, before inflationary adjustment mechanisms.

· The transaction will provide earnings visibility into 2040 supporting MPCC's

distribution policy, with no negative impact on expected distributions in

2022/2023.

· The project has been awarded NOK 13.7 million by Enova, owned by the

Norwegian Ministry of Climate and Environment, and NOK 60 million from the NOx

fund, the Norwegian business sector's fund to reduce emissions.

· The vessel owning entities will be majority owned by MPCC (90.1%) together

with Topeka MPC Maritime AS (9.9%), a joint venture between Topeka Holding AS

(zero emission shipping company owned by Wilhelmsen Group) and MPC Capital AG.

CEO Constantin Baack comments in relation to the announcement: "I am excited to

announce the order of two carbon-neutral newbuildings with long-term time

charters. Together with our partners NCL and Elkem, this project allows us to

set up a green transportation corridor in Northern Europe, proving our ability

to identify and execute on opportunities that are accretive whilst allowing us

to make the right move towards a further decarbonisation of the fleet. It also

demonstrates that we can meet ambitious environmental goals by joining forces

with like-minded partners and we are looking forward to facilitating a green

container shipping supply chain along the Norwegian coastline.

We believe that regional container trades with their specific features such as

predictable trading profiles and manageable investments in fuel infrastructure

will likely become the first truly green shipping trades.

With this project we continue to execute our selective growth strategy whilst

mitigating residual value risk and renewing our fleet. The economics of this

deal will support MPCC's distribution potential from 2024 onwards.

With the most recent USD 71m dividend payment, MPCC has YTD 2022 distributed a

total of USD 271m to its shareholders, emphasizing our strong commitment to

returning capital to investors, which will remain our key priority going

forward."

This information is considered to be inside information pursuant to the EU

Market Abuse Regulation and is subject to disclosure requirements pursuant to

section 5-12 of the Norwegian Securities Trading Act.

This stock exchange announcement was published by Andreas Nguyen, Investor

Relations at MPC Container Ships ASA, on 4 July 2022 at 08:30 CEST.

Further information and contact:

For further information, please contact ir@mpc-container.com.

About MPC Container Ships ASA:

MPC Container Ships ASA (ticker code "MPCC") is a leading container tonnage

provider with a focus on small to mid-size containerships. 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 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.