MPC Container Ships ASA (MPCC) has successfully signed a USD 55 million pre- and post-delivery ECA covered financing agreement with Deutsche Bank and SINOSURE for its two dual-fuel methanol newbuildings.
The vessels are scheduled for delivery towards the end of 2024 and are secured by 15-year time charter agreements with North Sea Container Line (NCL). The loan matures in 2036.
The two vessels feature dual-fuel engines that enable operation on green methanol. Thus, this financing has been internally classified by the lender as Sustainable Finance as the proceeds will be used for an activity that meets the eligibility criteria of Deutsche Bank’s own Sustainable Finance Framework.
This project underlines MPCC’s ability to structure and execute innovative deals supporting the green transition in shipping and bringing together long-term industry partners. The new financing agreement serves as validation of the technology and structure of this project and our ambitious goal of establishing the first green transportation corridor in Northern Europe.
….said Moritz Fuhrmann, CFO of MPCC.
In June 2024, Constantin Baack will also assume the CEO role at MPC Capital AG (MPC Capital), MPCC’s primary sponsor and largest shareholder. Baack has been a member of the Management Board of MPC Capital since 2015.
Since its inception in 2017, MPCC has developed into a leading global tonnage provider and created significant value for our shareholders. Going forward, we are committed to maintaining our attractive distribution policy supported by ample opportunities in the market.
..Chairman of the Board, Ulf Holländer, commented on the Board’s measures.
