MPC Container Ships, a feeder specialist established by Germany's MPC Capital in April, is to acquire the entire containership fleet of Korean owner Cido Shipping for US$130 million. Cido Shipping is selling all 10 of its vessels to exit the sector.
MPC will acquire: the 2007-built Ocean Arrow, the MCC Dhaka, the 2008-built Ocean Blue, the 2009-built Maersk Warsaw, Maersk Westport and the Maersk Weymouth, as well as a 2011-built Maersk Weisbaden, Maersk Winnipeg, the Maersk Wolfburg and Maersk Wolfgast, reported Singapore's Splash 24/7.
MPC Container Ships has quickly built up a fleet of 23 vessels ranging in size from 1,000 to 3,000 TEU. This latest vessel acquisition will raise its fleet to 33 ships, but the company still has a long way to go before it reaches its targeted fleet size of 100 feeder ships.
Cido Shipping will utilise the proceeds of the sale for further vessel acquisitions, but in a different sector.
