MPC Container Ships ASA

MPCC Announces Vessel Acquisitions and New Charter Package Deal

Oslo, Norway - MPC Container Ships ASA ("MPCC" or the "Company") is pleased to

announce the acquisition of two 3,500 TEU vessels and a charter agreement

package for a total of 10 vessels, including the new acquisitions, thereby

strengthening the Company's backlog and improving earnings visibility.

The acquisition consists of two 3,500 TEU vessels at a total price of USD 47.25

million. The vessels are expected to be handed over from their current owner in

the third quarter of 2024 and will be delivered into pre-agreed firm 36-month

time charter contracts with a top-tier liner company. These vessels are

anticipated to generate aggregate revenues of approximately USD 55 million over

the charter period, ensuring the acquisition price is fully covered by the

corresponding EBITDA and recycling value at the end of the charters.

In addition, MPCC has entered into an agreement to charter out five 1,700 TEU

and three 2,800 TEU vessels on 24-26-month contracts to the same top-tier liner

company at attractive rates. These contracts are fixed approximately six months

forward on average and will be delivered into their new charters during the

fourth quarter of 2024 and the first quarter of 2025. In total, the new charter

agreements, including the newly acquired vessels, will add USD 155-195 million

to the Company's backlog and increase contract coverage to 90% of open days

remaining in 2024, 64% in 2025, and 34% in 2026.

"While our strategy remains focused on fleet renewal and optimization, we are

pleased to announce new value-enhancing strategic measures, taking advantage of

the current strong and dynamic market," said MPCC's Co-CEO and CFO, Moritz

Fuhrmann. "The acquisition of two 3,500 TEU vessels built in 2009 is a strategic

move that comes with pre-agreed charters, effectively de-risking the investment.

Together with a comprehensive charter package on existing vessels, this

underscores our strong competitive position and our ability to secure attractive

agreements with top-tier liner companies. This not only enhances our revenue

visibility but also strengthens our partnership with a leading industry player,

contributing to our long-term growth and shareholder value creation."

For more information, contact:

About MPC Container Ships ASA:

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

tonnage, focusing on small to mid-size container ships. The Company owns and

operates a portfolio of vessels 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.

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