Watson Farley & Williams (“WFW”) advised shipping company MPC Container Ships ASA (“MPCC”) on the order of two 1,600 TEU container ships and related eight-year charter agreements with a renowned shipping liner company.
The contracts for the two high-cube container-optimised newbuilds were signed with the Fujian Mawei Shipyard in China, with the total investment amounting to US$66m. Delivery of the two vessels is scheduled for the second half of 2027. MPCC also holds options for further units, enabling future scalability in line with market opportunities.
The new vessels feature a highly advanced, fuel-efficient design optimised for operations in Northern Europe and its narrow fairways, whilst offering further efficiency advantages, even compared to existing ECO designs in this market segment. The order is part of MPCC’s strategic fleet modernisation programme aimed at increasing energy efficiency and minimising regulatory and environmental risks.
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 Maritime team that advised MPCC was led by Hamburg Corporate Partner Dr Christian Finnern, supported by Associates Maximilian Hennig and Bjarne Ruthke. Hamburg partner Dr F. Maximilian Boemke advised on regulatory matters, whilst London Partners Joe McGladdery and Charles Buss in advised on English law.
Christian commented: “It was a pleasure to advise MPCC on this strategic step. The transaction is exemplary for fleet modernisation and market positioning – and at the same time reflects the dynamics of an industry that calls for strategic decisions and legal clarity more than ever. Our maritime transaction expertise enables us to advise on such complex projects in a targeted and forward-looking manner”.
