ShippingWatch

MPC Container Ships is buying stocks instead of ships

After buying 69 ships in two years, MPC will now instead spend its money on a buyback program. A drop in prices means that this is better use of capital, the chief executive tells ShippingWatch.

Photo: MPC Container Ships

MPC Container Ships has been a major buyer of ships in the last couple of years, but a drop in the company's stock price means that its money is now being spent elsewhere.

Since the summer 2018, the shipowner's share has fallen from around NOK 55 (USD 6.2) to currently around NOK 30.

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