MPC Capital further expands commitment to the decarbonization of the shipping industry

Hamburg-based asset and investment manager MPC Capital has initiated a project to build two new container ships powered by climate neutral (“green”) methanol. The project was developed in cooperation with the Norwegian Wilhelmsen group and is part of a series of activities by MPC Capital to decarbonize the maritime sector.

The vessels have a total investment volume of USD 78 million and a capacity of 1,300 standard containers (TEU) each. With their modern design and the most advanced propulsion technology based on green methanol, the vessels are among the first container ships to already comply with all the measures launched by the International Maritime Organization (IMO) to reduce emissions in shipping. The two ships are being built in China – with key technologies from Europe – and are scheduled for delivery in 2024.

Both vessels are chartered for 15 years to Norwegian shipping company NCL, the cargo provider of Elkem, an industrial group also based in Norway. Elkem is one of the world’s most environmentally friendly manufacturers of silicon-based materials and is listed with the highest EcoVadis sustainability rating “Platinum”.

The methanol for the ships is to be produced in a largely CO2-neutral manner in Norway and other regions. Together with the partners NCL and Elkem, the goal is to establish the first “green corridor” in Northern Europe, enabling climate-neutral freight transport from shipper to recipient.

Ulf Holländer, CEO of MPC Capital AG: “The global maritime infrastructure is facing enormous challenges to stabilize supply chains on the one hand and to make its contribution to decarbonization in the transport sector on the other. At MPC Capital, we are at the interface to investors looking for sustainable investments in shipping and we provide our commercial and technical maritime expertise in this context. With strong partners like the Wilhelmsen Group, we believe to be ideally positioned to actively shape the energy transition in the maritime sector.”

The two vessels were ordered in a joint venture between MPC Capital, the Wilhelmsen Group and MPC Container Ships as the majority investor. Companies of the MPC Capital group will be responsible for the technical and commercial management of the ships.
Source: MPC Capital AG