MPC Container Ships (MPCC) has agreed to acquire Songa Container through a share purchase agreement worth $210m.
The deal represents a major consolidation between European boxship tonnage providers in a boiling hot charter market.
Constantin Baack, chief executive of Oslo-listed, Hamburg-managed MPCC said the acquisition was backed by the company’s strong belief in sustainable container market fundamentals and its desire to take advantage of the significant lag between asset values and rates.
