This follows our strategy of focusing on transactions that are accretive on a per share basis. "We have further been able to arbitrage the disparity between asset and charter values, by adding 12 vessels to the fleet during the first nine months of 2021, which were subsequently fixed at attractive charters or partly sold at a substantial premium. In these market conditions, the Company has already executed 53 multi-year charter fixtures YTD and has executed on a number of portfolio measures, leading to a significant increase in charter revenues and a current EBITDA backlog of more than USD 840 million, thus improving the earnings visibility and cash generation going forward. We expect the favourable conditions for a tight containership market to continue going forward." In this unique market environment charterers continue to compete for tonnage whilst only limited newbuilds are anticipated to be delivered during the next two to three years. This is further amplified by global supply chain disruptions, a situation that we believe is unlikely to ease anytime soon. The guidance is subject to certain assumptions, including an estimated gain of USD 99 million related to nine vessel sales this year of which six vessel handovers still have to be finalized and executed in Q4 2021.ĬEO Constantin Baack comments in relation to the announcement: "We continue to witness historically strong container markets with significant demand growth and high freight and charter rates. The Company revises its guidance for FY 2021, with expected revenues in the range of USD 360-365 million and expected EBITDA in the range of USD 305-315 million. Utilization of 97.7% in Q3 2021 (Q2 2021: 96.9%).Īverage time charter equivalent ("TCE") of USD 19,656 per day in Q3 2021 (Q2 2021: USD 13,437 per day).Ĭash and cash equivalents of USD 76.5 million as at 30 September 2021.Įquity ratio of 58.4% and leverage ratio of 34.8%.Īs at 30 September 2021, the Group owns and operates 75 container vessels, whereof 67 are fully owned and 8 are operated in a joint venture. MPC Container Ships ASA ("MPCC" or the "Company", together with its subsidiaries the "Group") today published its unaudited financial report for the nine-month period ended 30 September 2021. The FY 2021 EBITDA guidance increased to USD 305-315 million.
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Significantly improved operating revenues of USD 118.5 million and EBITDA of USD 73.6 million, up by 72% and 131%, respectively, compared to Q2 2021.Ĭontinued chartering activity combined with strategic vessel sales in Q3 2021 bring the EBITDA backlog to more than USD 840 million.