# MPCC Q2 2026 Earnings Call

- Press release: MPC Container Ships Reports Q2 2026 Results (2026-08-26)
- Original: https://storage.mfn.se/4e46548e-f5fe-474f-9cfc-d84a4aaf7ff2/mpcc-q2-2026-earnings-call.pdf
- Local copy: `data/documents/MPCC.OL/attachments/2026-08-26_mpcc-q2-2026-earnings-call.pdf`

**TL;DR —** MPC Container Ships reported strong Q2 2026 results with $116.9 million in operating revenue and $65.0 million in adjusted EBITDA, driven by high fleet utilization and strategic fleet renewal, including the acquisition of four 7,000 TEU vessels and a robust charter backlog extending to 2029.

## Takeaways
- **Operating Revenue:** Q2 2026 operating revenues were $116.9 million, with an adjusted EBITDA of $65.0 million.
- **Fleet Utilization & Backlog:** The company maintained 98.8% fleet utilization in Q2 2026 and secured a revenue backlog of $2.2 billion, covering 99% of open days in 2026, 85% in 2027, 60% in 2028, and 39% in 2029.
- **Fleet Expansion:** MPC Container Ships acquired four modern 7,000 TEU eco-conventional vessels for $340 million, with three-year fixed-rate charters to a top-5 liner company, covering ~41% of the acquisition price with secured EBITDA.
- **Capital Structure:** A $375 million senior secured term loan was secured for fleet renewal, and a private placement raised $107 million, contributing to a robust pro-forma liquidity of $680 million and a low leverage ratio of 28.4%.
- **Market Conditions:** Tight supply and solid demand kept charter rates firm, with near-term tonnage scarce and liners increasingly fixing vessels further forward to secure capacity, supported by 3.5-4% TEU demand growth in 2026.
- **Dividends:** The company declared a recurring dividend of $0.04 per share for Q2 2026, marking its 18th consecutive dividend payment.

*Generated 2026-09-08 via google/gemini-2.5-flash*