OSLO MPC Container Ships (MPCC) has finalised the purchase of five modern eco-design vessels for a total price of US$136.4 million, reports Singapore's Splash247.

MPCC said in a stock exchange filing that these vessels already have existing charter contracts with "top-tier counterparties" and that they would further strengthen the company's revenue-generating capabilities.

Under the existing charters, the new vessels are expected to generate EBITDA between $30million and $41 million depending on when the vessels are redelivered.

"The inclusion of five young, eco-design vessels enhance the overall composition of our fleet and will increase our earnings and distribution capacity in 2023 and onwards," said MPCC chief executive Constantin Baack.

In conjunction with the acquisition, MPCC has signed a term sheet with a European bank for a $50 million loan to support the transaction. Also, the company secured a $75 million lease with Bank of Communications, which is secured by 12 unencumbered vessels.

According to the company, the newly acquired vessels are 30 per cent more efficient than conventional designs and are among the top 25 per cent of all vessels in their segment. They have an average age of 4.6 years and will add 9,250 TEU to the existing fleet.

Following the acquisition, MPCC's fleet will consist of 70 vessels, including four newbuilds, with an aggregate capacity of 153,294 TEU, excluding the AS Emma with a capacity of 4,300 TEU.