Norwegian shipowner MPC Container Ships (MPCC) has signed a $55 million pre and post-delivery ECA coated financing settlement with Deutsche Bank and SINOSURE for its two dual-fuel methanol newbuildings.
The vessels are scheduled for supply in the direction of the top of 2024 and are secured by 15-year time constitution agreements with North Sea Container Line (NCL). The mortgage matures in 2036, in response to MPCC.
Chinese-based shipyard Taizhou Sanfu Ship Engineering is accountable for the development of the vessel.
The two vessels characteristic dual-fuel engines that allow operation on inexperienced methanol. Thus, the financing has been internally categorised by the lender as sustainable finance because the proceeds will likely be used for an exercise that meets the eligibility standards of Deutsche Bank’s personal Sustainable Finance Framework.
“This project underlines MPCC’s ability to structure and execute innovative deals supporting the green transition in shipping and bringing together long-term industry partners.
“The new financing agreement serves as validation of the technology and structure of this project and our ambitious goal of establishing the first green transportation corridor in Northern Europe. It furthermore adds financing at attractive rates with long duration, thus preserving our strong balance sheet and flexibility, in line with our general leverage strategy and capital allocation principles,” mentioned Moritz Fuhrmann, CFO of MPCC.
In addition, MPCC’s Board has right this moment adopted measures to place and strengthen the chief administration group for the subsequent part of the corporate’s improvement.
Constantin Baack will proceed to function CEO of MPCC, as he has carried out for the reason that inception of the corporate. Moritz Fuhrman has now been appointed as Co-CEO of MPCC alongside Baack with shared accountability to run and develop the corporate. Fuhrmann will even retain his present place as CFO.
The administration group is complemented by COO, Christan Rychly, who will proceed to supervise the working fleet and newbuilding initiatives, sustaining MPCC’s fame for operational excellence.
In June 2024, Constantin Baack will even assume the CEO position at MPC Capital, MPCC’s main sponsor and largest shareholder. Baack has been a member of the Management Board of MPC Capital since 2015.
