WFW advises MPCC on US $144.4m green container newbuild order

Watson Farley & Williams (“WFW”) has advised Norway-headquartered MPC Container Ships ASA (“MPCC”) on its US$144.4m order for the construction of two eco-design 5,500-teu container ships at South Korean shipyard HJ Shipbuilding and Construction (“HJSC”, formerly Hanjin Heavy Industries and Construction Group).

The vessels, which will be on seven-year long term charters to Israeli line operator Zim following delivery scheduled in early 2024, represent MPCC’s first ever newbuild order, the company having traditionally focussed on second-hand tonnage since it was founded in 2017.

MPCC, a market-leading container ship company specialising in serving intra-regional trade lanes, own and operate one of the largest feeder fleets globally. Their founding sponsor and key shareholder is Hamburg-based asset and investment Manager MPC Capital (“MPC”), who have had a core focus on real estate, infrastructure and shipping for over 25 years.

The cross-border WFW Maritime team advising MPCC was led by Hamburg Partner Dr Christian Finnern, assisted by Senior Associate Peter Graß and Associate Marc Großmann. They worked closely throughout the transaction with London Maritime Partners Robert Platt and Charles Buss.

Christian and the team recently advised MPC on the order for the construction of four similar green container newbuild vessels from HJSC. Please see here for further details on that transaction.

Christian commented: “We’re delighted to have once again been able to advise a member of the MPC family on an important eco-friendly newbuild order. That they opted for WFW to assist them on this transaction highlights the firm’s standing as the ‘go to’ law firm for sustainable shipping expertise”.
Source: Watson Farley & Williams