MPC Capital orders green methanol-ready boxships

Hamburg-based asset and investment manager MPC Capital, together with partners, has ordered four container vessels at South Korean shipyard Hanjin Heavy Industries and Construction Group (HHIC).

MPC Capital
Illustration. Image by Navingo

In October 2021, Hanjin Heavy said it secured a KRW 310.5 billion (about $261.8 million) order for the construction of the four containerships. However, back then, it did not disclose the name of the shipowner in question.

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As informed by MPC, delivery of the first vessel is scheduled for the second quarter of 2023.

The vessels will have a capacity of 5,500 TEU and an eco-friendly design.

The 5,500 TEU eco-design allows for a saving of 40% in consumption when compared to the existing fleet. It also allows for a conversion to carbon-neutral operations based on green methanol, according to the company.

Underlining its high efficiency, the ship design has a high-profile environmental DNV notation and will be built compliant with EEDI-Phase 3 and NOx Tier III standards. The MPC Capital group directly or through its subsidiaries will provide a range of services, including commercial and technical management.

“We are convinced that the demand for new container ships with favorable specifications, a low consumption and high environmental ranking will increase. The orderbook in this size segment is fairly low and 80% of the vessels in the water today are non-eco ships,” Christian Rychly, Managing Director Shipping at MPC Capital, commented.

“At the same time the positive momentum in the container market continues. Fundamental data signal a further tightening of the supply of assets and with limited yard capacity available the ordering of new ships with these non-replicable delivery positions in 2023 provides a very unique opportunity.”