Page 45: of Maritime Reporter Magazine (May 2023)

NOR-SHIPPING 2023

Shortly after inception, in April

Case study: 2017, MPC Container Ships was listed on Oslo Børs’ OTC market. During the following 18

MPC Container Ships months, its principals set up a

Feeder container ships may not appear the most likely challenging timetable of over shipping assets to appeal to Norwegian investors accustomed 750 investor meetings and by to offshore energy and aquaculture. But if MPC Container

May 2018, MPC Container Ships was listed on the Oslo Børs’ main

Ships’ story is anything to go by, then it seems that Norwe- market. By then, it had raised gian investors have a diverse appetite. $460m in equity and $200m

The company’s EVP and General Manager Norway, Pål in bonds and had bought 69

Sætre, believes that the country’s close relationship with the container vessels. sea can mean that with a good story, Oslo is potentially a very – Pål Sætre,

EVP and General attractive arena in which to raise capital. Investors there, he

Manager Norway, says, have deep pockets for a good story.

MPC Container

The Hamburg-based company was established in April

Ships 2017 by sponsor and founding shareholder, MPC Münch- meyer Petersen Capital AG (MPC Capital). Today, as one

Between 2020 and 2022, MPC Container Ships’ operating of the world’s largest owners of intra-regional container ton- nage, it operates more than 60 geared and gearless ships in revenues shot up from $171.9m to $616.8m. Adjusted EBIT-

DA soared from $16.2m to $451.5m.

global feeder trades.

Sætre points out several key features that set Oslo apart as a

Shortly after inception, in April 2017, MPC Container

Ships was listed on Oslo Børs’ over-the-counter market. city in which shipping projects are well received. The invest- ment community is accustomed to capital intensive sectors,

During the following 18 months, its principals set up a chal- lenging timetable of over 750 investor meetings and by May notably both traditional and now sustainable offshore energy, 2018, MPC Container Ships was listed on the Oslo Børs’ and shipping is a key aspect of the country’s everyday life.

Investors are more accustomed to and potentially comfort- main market. By then, it had raised $460m in equity and able with risks related to asset-heavy and volatile industries, $200m in bonds and had bought 69 container vessels, becom- he says. And he notes a strong current shipping presence, as ing the world’s largest owner of intra-regional tonnage. it has been historically, on Oslo Børs.

To be fair, fate has dealt the young feeder company a spec-

However, it is the Norwegian ecosystem that sets Oslo tacular hand. The onset of the pandemic brought global sup- ply chains to the public’s attention as never before. Sætre apart, Sætre believes. Apart from knowledgeable investors, notes that this was evident everywhere, even in prosperous there is a vibrant network of shipping-related service pro- viders including brokers, analysts, investment banks, main-

Oslo where the grounding of the Ever Given in the Suez Ca- stream banks and law ? rms. nal caused delays on most shipped goods.

This network, coupled with a swift and pragmatic approach

But as arterial container ships have increased in size and sho- reside Covid-related congestion became a major issue in many to documentation and the overall capital raising process, regions, the importance of distributive feeder trades came into means that companies aiming to tap Norway’s investment sharp focus among the world’s public at large. In economic community may well enjoy the fastest speed to market that can be achieved anywhere. terms, these regional trades are essential and inelastic.

ENDLESS SUPPLY OF MARINE HARDWARE ! &"$)$?""?!!&"$l • New, Used and Rental Options Available

AUTHORIZED YOKOHAMA • New Harness Installation 0r Harness Repair with Quick Turnaround

FENDER DISTRIBUTOR • Foam and Pneumatic Fenders Available

NEW & USED LARGEST INVENTORY IN THE USA

IN STOCK &

READY TO SHIP • Anchors • b?m]v • Hardware • ou7-]; • Dock • Buoys

WORLDWIDE • Chains • $o?bm] • Wire Rope • Blocks • Fenders • Spill Boom 24/7 ?????ƒƒƒ??????!!&"$l www.marinelink.com 45

MR #5 (34-49).indd 45 5/1/2023 11:39:20 AM