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@Khlmysee
2Yr·

Swarm knowledge: $MPCC (+0.63%) MPC Container Ships ASA


Does anyone know why the value (which I even hold myself 😅) is going so steeply right now? I don't have any information.

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14 Comments
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Dol@Dolo
2Yr
2 ships were sold for 29mln, an event-driven dividend should be coming soon
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N@Khlmysee
2Yr
@Dolo Do you have the source? 😬
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Dol@Dolo
2Yr
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N@Khlmysee
2Yr
@Dolo Can you read the full text? Without a paywall?
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Dol@Dolo
2Yr
@Khlmysee unfortunately not
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dividenden_pilot@dividenden_pilot
2Yr
@Dolo but I have also heard, at least it was mentioned in the Q4 report, that proceeds from sales are to be invested in sustainable ships (green), I am also hoping for a special dividend, but I wouldn't count on it. Let's wait and see and keep our fingers crossed đŸ‘đŸœ
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N@Khlmysee
2Yr
@dividenden_pilot Either way, I think both ways are ok.
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dividenden_pilot@dividenden_pilot
2Yr
Here are a few more strategic things that $MPCC is currently doing. MPCC secures ECA-backed sustainable financing for its dual-fuel methanol newbuilds and announces co-CEO structure
MPCC secures ECA-backed loan
Oslo, Norway - MPC Container Ships ASA (MPCC) has successfully signed a USD 55 million ECA financing agreement with Deutsche Bank and SINOSURE for its two dual-fuel methanol newbuildings. The vessels are scheduled for delivery towards the end of 2024 and are secured by 15-year time charter agreements with North Sea Container Line (NCL). The loan has a term until 2036.
The two ships are equipped with dual-fuel engines that enable them to run on green methanol. Therefore, this financing has been internally classified as Sustainable Finance by the lender as the proceeds will be used for an activity that meets the eligibility criteria of Deutsche Bank's own Sustainable Finance Framework.
"This project underlines MPCC's ability to structure and execute innovative transactions that support the green transition in shipping and bring together long-term industry partners. The new financing agreement serves as a validation of the technology and structure of this project and our ambitious goal to create the first green transportation corridor in Northern Europe. In addition, financing will be offered on attractive terms with a long maturity, maintaining our strong balance sheet and flexibility in line with our overall debt strategy and capital allocation principles," said Moritz Fuhrmann, CFO of MPCC.
Co-CEO and management structure
The Board of Directors has today decided on measures to position and strengthen the Executive Board for the next phase of the company's development.
Constantin Baack will continue to serve as CEO of MPCC, as he has done since the company was founded. In addition, Moritz Fuhrman has now been appointed Co-CEO of MPCC alongside Mr. Baack and will be jointly responsible for the management and development of the company. Mr. Fuhrman will also retain his current position as CFO. The management team will be joined by COO Christan Rychly, who will continue to oversee the operating fleet and new build projects and maintain MPCC's reputation for operational excellence.
In June 2024, Constantin Baack will also assume the CEO role of MPC Capital AG ("MPC Capital"), MPCC's main sponsor and largest shareholder. Mr. Baack has been a member of the Management Board of MPC Capital since 2015.
The Chairman of the Board of Directors, Ulf HollÀnder, commented on the actions of the Board of Directors as follows:
"Since its inception in 2017, MPCC has developed into a leading global tonnage provider and created significant value for our shareholders. Going forward, we are committed to maintaining our attractive sales policy supported by numerous market opportunities.
Constantin Baack has successfully led MPCC since its inception and continues to be an invaluable part of the management team. He will continue to lead MPCC together with Moritz Fuhrmann as Co-CEO and Christian Rychly as COO. This team has worked together successfully over the last few years. Since Mr. Fuhrmann's appointment as CFO in 2022, he has been a driving force behind several key actions that have successfully improved the company's balance sheet and financial performance. Looking ahead, we have great confidence in this team's ability to continue on our successful and promising path."
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KevinE@KevinE
2Yr
I also find it quite sporty, on the other hand: with a high quarterly dividend (in my opinion, there is currently no reason for a large reduction), the dividend discount must be offset again.
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N@Khlmysee
2Yr
@KevinCthe profit prospects have been significantly reduced.
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KevinE@KevinE
2Yr
@Khlmysee but freight rates have been falling continuously since January. Perhaps more slowly than the market has priced in?
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N@Khlmysee
2Yr
@KevinC MPC actually only "leases" the vessels and the conditions are already fixed. That's why they can't really go in any direction in the short term. Maybe they are gearing up for a special dividend... 😅
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Patrick@Pithh
2Yr
https://live.euronext.com/en/node/12414731 have a look there and open the PDF.
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Patrick@Pithh
2Yr
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