MPC Maritime Investments GmbH, a subsidiary of MPC Capital AG (Deutsche Börse Entry Standard, ISIN DE000A1TNWJ4), has arranged the sale of a portfolio of eight container ships for a price of around USD 398 million. The buyer is an Asian finance syndicate which intends to continue to use the ships for charter operations. Two of the eight fully containerised vessels each with a slot capacity of around 8,500 standard containers (TEU) have already been handed over to their new owners. The handover of the remaining six ships is scheduled to take place during the next weeks.
The ships that make up the “M-Star” fleet, with poetic names such as “Mahler Star”, “Manet Star” and “Mendelssohn Star”, went into service between 2004 and 2007. To finance their purchase, MPC Capital had raised equity capital of around EUR 175 million predominantly among private investors. The sale that has now been agreed means the investors realise an average annual post-tax return of 6 % on their employed capital. The IRR (internal rate of return) is up to 7.7 %, and the total return of capital as high as 195 %.
“We are very proud that we have successfully completed a transaction of this magnitude in this difficult industry climate,” remarked Constantin Baack, Management Board member of MPC Capital AG. “We have achieved this solid return on our investors’ employed capital not least by tightly dovetailing specialist shipping knowledge with financial expertise in our investment team.”