Gloomy outlook for MPCC as feeder market collapses and charter rates plunge

May 28, 2020 Mike Wackett

Oslo-listed feedership owner MPC Container Ships (MPCC) has posted a net loss of $10.7m for the first quarter and warned investors of its exposure to “significantly reduced charter rates”.
CEO Constantin Baack said that, but for its capital expenditure and off-hire deductions related to scrubber retrofits on ten vessels, Q1 should have seen the shipowner move into the black for the first time since its 2017 formation.
And he said MPCC had been ...

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