MPC Container Ships (MPCC) has presented its financial results for the first quarter of 2026.
MPCC said it delivered another quarter with solid operational and financial performance, supported by a strong contract backlog with 99 per cent of open days covered in 2026, 69 per cent in 2027, and 41 per cent in 2028.
During Q1 2026, the company continued robust operations with very high fleet utilisation of 99.1 per cent (Q1 2025: 96 per cent) and adjusted average time charter earnings of US$25,040 per day (Q1 2025: US$25,441 per day).
MPCC posted operating revenues of US$118.9 million (Q1 2025: US$127.1 million) and gross operating profit of US$68 million (Q1 2025: US$77.8 million). The gross operating profit adjusted for non-recurring items was US$67.1 million (Q1 2025: US$66.2 million).
The balance sheet remains solid, with 30 debt-free vessels and a leverage ratio of 30.7 per cent.
"The first quarter of 2026 marked a solid start to the year for MPC Container Ships, against one of the most disrupted operating environments in recent years," said MPCC CEO Constantin Baack. "In the segments where MPCC operates, we continue to see limited availability of modern feeder tonnage and an orderbook concentrated in larger vessels underpinning a favorable supply/demand balance."