MPC Container Ships (MPCC) Q2 2025 earnings summary

Executive summary

• Achieved strong Q2 2025 performance with revenue of $140 million and adjusted EBITDA of $81 million, maintaining high fleet utilization at 97.6% and robust charter backlog covering 100% of open days in 2025 and 89% in 2026.

• Declared a recurring dividend of $0.05 per share for Q2 2025, representing 50% of adjusted net profit, and paid over $1 billion in dividends over the past 36 months.

• Strategic focus on fleet renewal, including divesting older vessels, investing in new energy-efficient ships, and ordering four 4,500 TEU dual-fuel newbuildings with long-term charters.

• Secured $100 million in new debt facilities, with a $250 million accordion option, to support fleet renewal and growth.

• Delivered new dual-fuel vessels, completed handover of sold vessels, and acquired full ownership of a methanol dual-fuel newbuilding.

Financial highlights

• Q2 2025 operating revenues reached $140 million, up from $130.9 million in Q2 2024; adjusted EBITDA was $81 million, up from $78 million year-over-year.

• Adjusted net profit for Q2 2025 was $48.6 million, with operating cash flow at $78.3 million.

• Net debt decreased to $129 million, and liquidity stood at $360 million at quarter-end.

• 27 debt-free vessels with a fair market value of up to $650 million.

• Leverage ratio at 33.6% as of Q2 2025.

Outlook and guidance

• Forward charter backlog of $1.2 billion, with 100% coverage for 2025 and 89% for 2026, and projected EBITDA backlog of $0.7 billion.

• Contracted forward TCE of $25,801 per day for 2025.

• Continued focus on fleet optimization, retrofit programs, and disciplined capital allocation.

• Regional and intra-regional trades expected to drive robust demand, especially in emerging markets.