MPCC confirms US$144.4 million container newbuild order
Watson Farley & Williams (WFW) has advised Norway-headquartered MPC Container Ships ASA (MPCC) on its US$144.4 million 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 newbuild order.
The company’s founding sponsor and key shareholder is Hamburg-based asset and investment Manager MPC Capital (MPC), which has 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.
Finnern 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.”