MPCC does a lot right. On the newbuild side recently, the capex of USD 565m is backed by USD 431m in EBITDA and scrap value (76%). Upon redelivery, the 11x vessels will be ~7 years old on average with a lot of optionality. Steps like this have ensured that the average building year of the fleet has gone from 2007 in Q3/21 to 2014 as of Q3/25, while at the same time paying USD 1.1bn in dividends. Forward fixtures are entered into, which is a sign that the big liners are still scrambling for tonna ....
