MPC Container Ships (MPCC) investor relations material

Market position and strategy

• Operates 51 vessels with 17 more under construction for delivery through 2029, holding the largest position in intra-regional container trade globally.

• Maintains a firm charter backlog of $2.0bn, with high contract coverage: 97% for 2026, 58% for 2027, and 36% for 2028.

• Focuses on the intra-regional feeder segment, serving key markets in Europe, Africa, the Caribbean, and Asia.

• Implements a rational capital allocation framework and solid balance sheet management, with 32 debt-free vessels and a 33% leverage ratio.

• Pursues a distinct strategy as a leading tonnage provider in intra-regional trade.

Market environment and trends

• Global container trade grew by about 5% in 2025, with Asian exports to Europe and developing economies remaining strong despite declining US-bound volumes.

• US effective tariff rates rose sharply to 18.5% in 2025, while China diversified exports to new markets.

• Charter rates remain elevated and stable, with forward vessel availability low and a significant portion of the fleet over 20 years old.

• Feeder segments remain underinvested despite a record-high orderbook, and intra-regional trades outperformed mainlane trades in 2025.

• Ongoing US trade policy volatility and Red Sea disruptions contribute to market uncertainty.

Operational performance and fleet management

• Invested $8m in retrofits for energy efficiency, targeting up to 25% efficiency gains.

• Achieved average charter hire of $22,500 per day on ~25-month contracts, with recent fixtures at higher rates.

• Sold older vessels for $151m, with asset sales implying NOK 30-35 per share NAV.

• Newbuildings feature multi-year charters, optimized designs, and alternative fuel readiness, with $850m construction capex and $830m secured.