German law firm Luther assisted with the sale of eight container ships managed by MPC Maritime Investments GmbH. The buyer is an Asian finance syndicate which intends to continue to keep the ships operating in the charter business.
Hamburg – German law firm Luther assisted with the sale of eight container ships managed by MPC Maritime Investments GmbH in the total amount of US$ 398 million. The deal shows that it is possible to successfully implement major transactions in spite of the currently difficult environment.
The buyer is an Asian finance syndicate which intends to continue to keep the ships operating in the charter business. The eight full container ships with a length of 335 metres and a load capacity of approximately 8,500 standard containers (TEU) each were successfully transferred to their new owners within just three weeks.
The eight ships of the "M-Star fleet" were commissioned between 2004 and 2007 and were considered some of the world's largest container ships at the time of their commissioning. At the time, MPC had raised capital primarily from private investors in the amount of approximately EUR 175 million. With the now agreed-upon sale, investors generated average annual profits of 6% of the invested capital after taxes. The IRR (Internal Rate of Return) amounts to up to 7.7%, the total reintermediation to up to 195%.
About MPC Maritime Investments GmbH
MPC Maritime Investments GmbH is a subsidiary of MPC Capital AG and is involved with the project financing and conception thereof in the shipping sector. MPC Capital AG is an independent asset and investment manager specialising in asset-based investment and capital assets. Together with its subsidiary, the company manages asset-based investments and capital assets for international institutional investors, family offices, and professional investors. It mainly focuses on the asset classes real estate, shipping, and infrastructure. MPC Capital AG was publicly listed in 2000 and has approximately 240 employees globally (ISIN DE000A1TNWJ4).
Maritime Law at Luther
Luther's "Maritime Team" in the Hamburg office regularly assists shipping companies, banks, wharfs, and issuing houses with questions relating to the construction, purchase, and sale of commercial ships and the structuring of financing and refinancing deals. Annually, it assists with approximately 50 ship transactions.
For the Vendors
Dr Benjamin Hub
+49 40 18067 12182
+49 40 18067 10074
Fabienne Scharfe, LL.M. (Tulane, New Orleans)
+49 40 18067 10015