MPC Container Ships ASA revises FY 2021 guidance and publishes container market and operational update
Oslo, 12 April 2021 – Reference is made to the stock exchange announcement by MPC Container Ships ASA (the "Company", together with its subsidiaries the "Group") on 25 February 2021 in relation to the release of the Group’s Q4 and twelve-month 2020 financial results. As a consequence of persistently strong container market dynamics, management has revised its FY 2021 revenue and EBITDA guidance. Subject to certain assumptions, management currently expects revenues in the range of USD 230-260m and EBITDA in the range of USD 120-140m.
The above indication is based on ~80% fixed operating days charter coverage for FY 2021, reflecting ~USD 193m in contracted charter revenue. Please also note that the above indication is subject to assessments of the current macroeconomic and charter market environment. Accordingly, this indication involves a number of risks and uncertainties, and the actual future financial performance of the Company may vary significantly from the present outlook.
In lieu of the aforementioned strong markets for global container tonnage, the Company today published a container market and operational update. The update is enclosed herewith.
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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 serving intra-regional trade lanes. The Company is registered and has its business office in Oslo, Norway. For more information, please see our website: www.mpc-container.com.
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.