ShippingWatch

MPC chief executive is "cautiously optimistic" about 2021 after landing rescue plan

Three years after its establishment, MPC Container Ships has now landed a crucial restructuring plan in an effort to avoid a fire sale of ships and potential bankruptcy. CEO Constantin Baack explains the plan to ShippingWatch.

Photo: PR-FOTO

Constantin Baack and MPC Container Ships have made it through to the other side after weeks of work on a major crisis plan to avoid both fire sales of ships and ultimately eliminate the danger of bankruptcy.

In July, lenders and shareholders approved the company's recapitalization plan to withstand a prolonged downturn in the container market, which could last up to two years.

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