MPC Container Ships ASA Non-GAAP EPS of $0.09, revenue of $116.9M beats by $12.37M

MPC Container Ships released its Q2 2026 financial results on August 26, 2026. The company reported $116.9 million in operating revenues, a decrease from $137.9 million in the previous quarter, and $65.0 million in adjusted EBITDA, down from $80.7 million in Q2 2025. Despite the year-over-year revenue decline, MPC Container Ships maintained strong operational metrics with 98.8% fleet utilization and an adjusted average TCE rate of $24,951 per day.

The company's balance sheet showed improvement, with the leverage ratio falling to 28.4% from 32.2% in the prior quarter. Net debt was only $22.0 million, down from $129.2 million in Q2 2025. A key achievement was the acquisition of four modern 7,000 TEU vessels built in 2023-2024, secured through three-year fixed-rate charters, generating $180 million in secured revenue and $140 million in secured EBITDA.

The company raised $107 million through a private placement and secured a $375 million senior secured term loan facility to fund the fleet renewal program. The container shipping market remained robust, with tight vessel availability and structural capacity constraints driving upward pressure on freight rates.