MPC Container Ships ASA reports Q1 2018 results

MPC Container Ships ASA (together with its subsidiaries the “Group”) today published its interim financial report for the three-month period ended 31 March 2018. Although the Group is still in the start-up phase of its operation it succeeded in realizing a net profit of USD 0.5 million for Q1 2018 (Q4 2017: USD -2.1 million).

- Total revenues in Q1 2018 were USD 28.3 million, compared to USD 13.2 million in Q4 2017.
- EBITDA was USD 7.6 million (Q4 2017: USD 0.3 million) and an operating cash flow of USD 4.8 million was realized in the first quarter of 2018 (USD 3.2 million in Q4 2017).
- Average time charter equivalent (TCE) per vessel increased to USD 9,352 per day in Q1 2018 (Q4 2017: USD 7,901), while average operating expenses (OPEX) decreased to USD 4,810 per day in Q1 2018 (Q4 2017: USD 5,255).

Oslo, 31 May 2018 - MPC Container Ships ASA reports Q1 2018 results

MPC Container Ships ASA (together with its subsidiaries the “Group”) today published its interim financial report for the three-month period ended 31 March 2018. Although the Group is still in the start-up phase of its operation it succeeded in realizing a net profit of USD 0.5 million for Q1 2018 (Q4 2017: USD -2.1 million).

- Total revenues in Q1 2018 were USD 28.3 million, compared to USD 13.2 million in Q4 2017.
- EBITDA was USD 7.6 million (Q4 2017: USD 0.3 million) and an operating cash flow of USD 4.8 million was realized in the first quarter of 2018 (USD 3.2 million in Q4 2017).
- Average time charter equivalent (TCE) per vessel increased to USD 9,352 per day in Q1 2018 (Q4 2017: USD 7,901), while average operating expenses (OPEX) decreased to USD 4,810 per day in Q1 2018 (Q4 2017: USD 5,255).

As of 31 March 2018, the Group has acquired 64 container vessels. Of these, 59 vessels have been taken over by the balance sheet date, whereof 52 are fully consolidated and seven are operated in a joint venture.

Q1 2018 earning call:
MPC Container Ships ASA will host a webcast for the presentation of the Q1 2018 results commencing on 1 June 2018 at 15:00 hours CEST. There will be a Q&A session after the presentation.

The webcast can be accessed through the following link: https://digital.vevent.com/rt/webcastingemea/index.jsp?seid=1218

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.
This event is being streamed. It is recommended that you listen via your computer speakers.
International/Toll Attendee Dial In: +44(0)2071928000
Conference ID: 6836119

Further information and contact:

ir@mpc-container.com

About MPC Container Ships ASA:
MPC Container Ships ASA (ticker code “MPCC”) was formed in April 2017. Its main activity is to own and operate a portfolio of container ships with a focus on the feeder segment between 1,000 and 3,000 TEU. The Company is registered and has its business office in Oslo, Norway. For more information, please see our webpage: www.mpc-container.com.

About Us

MPC Container Ships ASA owns and operates a fleet of container ships with a focus on the feeder segment between 1,000 and 3,000 TEU. The company was set up on the basis of favorable near- to mid-term market dynamics for the container feeder segment: attractive supply/demand patterns in intra-regional trades and historically low asset values protected by high recycling prices. The company is listed at the Oslo Stock Exchange (ticker: "MPCC") and has its business office in Oslo, Norway. For more information, please visit our webpage.