MPC Container Ships ASA publishes container market and operational update

OSLO, Norway, Jan. 18, 2022 /PRNewswire/ -- MPC Container Ships ASA ("MPCC" or the "Company", and together with its subsidiaries, the "Group") is pleased to announce the following market and company update and measures taken to implement the Company's distribution plan. The update includes the following:  

• Completion of the balance sheet optimization in Q4 2021 leading to more than 30 vessels being unencumbered   
• The container market started the year 2022 even stronger than it ended 2021
• Over the past weeks, MPCC has concluded seven additional multi-year charter fixtures (at strong rates and for forward positions) and one additional vessel sale
• As of 1 January 2022 contracted revenues increased to ~USD 1.2 billion and projected secured EBITDA is more than USD 850 million
• An amount of USD 150 - 160 million in proceeds from vessel sales is available for event-driven distributions already in Q1 2022
• An extraordinary general meeting will be held on 28 January 2022, where authorisations for both dividend distributions and share buy-backs are proposed to be granted to the board, to commence event-driven and recurring distributions

For further details on the market and operational update on the Company, please refer to the attached presentation. An investor call will be hosted on Wednesday 19 January at 10:00 CET. Please see below for call-in details.

The above information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

Investor call and webcast:

The Company will host a webcast for the investor call commencing on Wednesday 19 January 2022 at 10:00 hours CET. The presentation will be made available on the Company's webpage (https://www.mpc-container.com/investors-and-media/press-releases/). There will be a Q&A session after the presentation.

The event is being streamed. It is recommended that you listen via your computer speakers. Please note that for optimal viewing, it is recommended not to use VPN, but instead to connect directly to the internet. Please disable pop-up blockers in order to view the content in its entirety.

The live webcast can be accessed through the following link:

https://edge.media-server.com/mmc/p/fibfi3gn

Alternatively, participants may dial in to the earnings call using the below dial-in information:

Norwegian LocalCall Dial-In (Oslo): +47 23 96 02 64

US LocalCall Dial-In (New York): +1 (631) 510-7495

International/Toll Attendee Dial-In: +44 (0) 2071 928000

Conference ID: 3396473

Further information and contact:

For further information, please contact [email protected].

About MPC Container Ships ASA:

MPC Container Ships ASA (ticker code "MPCC") is a leading container tonnage provider with a focus on the feeder segment below 5,000 TEU. 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.

This information was brought to you by Cision http://news.cision.com

https://news.cision.com/mpc-container-ships-asa/r/mpc-container-ships-asa-publishes-container-market-and-operational-update,c3488076

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SOURCE MPC Container Ships ASA