Watson Farley & Williams (“WFW”) advised shipping company MPC Container Ships ASA (“MPCC”) on two transactions as part of the implementation of its fleet strategy.
The first transaction was the order of four new 4,500 TEU container vessels from Chinese shipyard Taizhou Sanfu Ship Engineering for a total investment of US$228m. The ships are scheduled for completion and delivery to MPCC in the second half of 2027.
MPC has already signed three-year charter agreements with a leading global liner company for these newbuildings. The vessels are prepared for conversion to alternative fuels such as ammonia or methanol and will therefore contribute to the decarbonisation of maritime transport in the long term.
In parallel, MPCC sold three older 1,300 TEU vessels with existing charter agreements for a total price of US$31.5m.
Both transactions strengthen MPCC’s strategically driven transition to a younger, more efficient and environmentally friendly fleet and reduce regulatory and environmental risks.
Oslo-based MPCC is a leading container ship owner with a focus on small to medium-sized vessels. It primarily owns and operates a portfolio of container ships serving regional trade routes under long-term charter agreements.
The WFW Hamburg Maritime team that advised MPCC was led by Partner Dr Christian Finnern, supported by Associates Maximilian Hennig and Bjarne Ruthke, as well as London Partner Charles Buss.
Christian commented: “It is remarkable to see how our long-standing client MPCC is developing its fleet strategy with foresight and implementing it with such precision. We are delighted to have been able to contribute our legal and industry-specific maritime expertise to help MPCC close these transactions, on both of which we advised them from the initial stages through to contract draft and structural implementation”.