Norway's MPC Container Ships (MPCC) has posted its financial results for the three months ended June 30, 2026.
During Q2 2026, MPCC posted charter backlog of US$2.2 billion with 99 per cent contract coverage for 2026 and high coverage for 2027 (85 per cent), 2028 (60 per cent) as well as 2029 (39 per cent). Quarterly recurring dividend meanwhile ended at US$0.04 per share.
The company continued robust operations with high fleet utilisation of 98.8 per cent (97.6 per cent in Q2 2025) and adjusted average time charter earnings of US$24,951 per day (US$26,247 in Q2 2025).
Operating revenues in Q2 2026 reached US$116.9 million (US$137.9 million in Q2 2025) while gross operating profit totalled US$95.4 million (US$107.4 million in Q2 2025).
Gross operating profit adjusted for non-recurring items was US$65 million (US$80.7 million in Q2 2025).
MPCC said its balance sheet remains solid, with 30 debt-free vessels and a leverage ratio of 28.4 per cent. The group’s fleet consisted of 65 vessels, with an aggregate capacity of approximately 186,000 TEUs, of which 17 were newbuildings on order. One of the newbuildings was delivered in August.
"The second quarter was another quarter of consistent performance and a reminder of the value of contracted visibility in a market that remains volatile and hard to predict," said MPCC CEO Constantin Baack. "In our segment, the market stayed firm, with tight supply of modern tonnage and resilient demand from intra-regional trade and continued supply chain disruptions.
"Our fleet renewal strategy is delivering results, and our long-term charter coverage provides us a natural hedge that secures earnings independent of market swings. With a contracted revenue backlog of US$2.2 billion and coverage extending well into 2028 and beyond, visibility has become one of our most valuable assets."