MPC's nightmare summer has transformed into the best market in years

Shipowner MPC Container Ships has experienced a significant transformation of the container market, in which a crisis plan in a nightmare summer has been replaced by doubling rates and the best market in years, CEO tells ShippingWatch.

Photo: PR-FOTO

During 2020 the container market has shown several faces to MPC Container Ships, but in recent weeks the arrow has pointed in one way only.

This summer, a market in the doldrums required a large crisis plan from the shipowner to prevent a fire sale of ships and ultimately a risk of bankruptcy. Through a deal with its creditors in July, however, MPC was able to keep its fleet.

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