Watson Farley & Williams (“WFW”) advised shipping company MPC Container Ships ASA (“MPCC”) on its strategic sale of seven container ships for a transaction value of US$94m. The disposal is part of MPCC’s strategic development and the targeted restructuring of its fleet.
MPCC has agreed to sell five ships en bloc to Contships Group, comprising three 1,300 TEU ships and two 2,000 TEU ships. In addition, two further ships have been sold to Seacon Group.
Oslo-based MPCC is a leading container ship owner with a focus on small to medium-sized vessels. It primarily owns and operates a portfolio of container ships serving regional trade routes under long-term charter agreements.
The WFW Hamburg Maritime team that advised MPCC was led by Partner Dr Christian Finnern, supported by Associates Maximilian Hennig and Bjarne Ruthke. Hamburg Partner Dr F. Maximilian Boemke and London Counsel Valentina Keys advised on regulatory matters.
Christian commented: “It was a pleasure to advise our long-standing client MPCC on this matter. This transaction follows a clear fleet strategy focussed on efficiency and sustainability. WFW’s extensive experience enables us to provide comprehensive and targeted advice on such complex corporate transactions in the maritime space”.
