OSLO, Norway, Aug. 28, 2024 /PRNewswire/ -- MPC Container Ships ("MPCC" or the "Company") delivered another quarter of solid operational and financial results, supported by efficient operations and continued high fleet utilization. During the quarter, MPCC was able to capitalize on favorable market conditions, significantly strengthening its long-term contract coverage and charter backlog, which stood at USD 1.1 billion at the end of the period. Simultaneously, MPCC enhanced its fleet composition by undertaking key initiatives for fleet renewal and optimization. The Company continues to deliver attractive shareholder returns with a quarterly dividend of USD 0.10 per share, totaling approximately USD 44.4 million, marking its 11th consecutive quarterly dividend.
HighlightsÂ
Charter backlog increased to USD 1.1 billion with increased contract coverage for 2025 (76%) and 2026 (42%).
Quarterly recurring dividend of USD 0.10 per share, bringing aggregated total dividends to USD 893 million declared since February 2022.
The financial guidance for 2024 increased to operating revenues in the range of USD 510-520 million (previous: USD 475-490 million) and EBITDA in the range of USD 335-350 million (previous: USD 280-305 million).
Continued strong operations with high fleet utilization of 97.6% (Q2 2023: 97.4%) and average TCE of USD 26,742 per day (Q2 2023: USD 29,668).
Operating revenues of USD 130.9 million and EBITDA of USD 84.4 million (Q2 2023: USD 142.7 million). EBITDA adjusted for non-recurring items was USD 78.0 million (Q2 2023: USD 110.5 million).
Profit for the period was USD 64.8 million and USD 58.4 million adj. for non-recurring items (Q2 2023: USD 87.7 million).
Adj. EPS was USD 0.13 (Q2 2023: USD 0.23).
As at June 30, 2024, the Group's fleet consisted of 55 vessels, with an aggregate ...
