Value Investor's Edge Live #41: Market Insights From MPC Container Ships

Marketplace Roundtable

Constantin Baack, CEO of MPC Containers (OTCPK:MPZZF), a leading small-sized containership lessor, joined J Mintzmyer's Value Investor's Edge Live in June 2021 to discuss the surging containership markets and company strategy to benefit from these elevated market levels.
Although MPCC is not currently listed in the US markets, there's sufficient trading liquidity on the Oslo Exchange under the stock symbol "MPCC" and they're considering a potential US-listing if market conditions remain favorable and their market capitalization exceeds $1B.
For more particular information on MPC Containers, I highly recommend reviewing their latest investor presentation, which was updated on June 22. MPCC is set to publish Q2-21 earnings results on Aug. 19.
For readers and listeners primarily interested in US-listed names, the primary comps include Atlas Corp. (ATCO), Costamare (CMRE), Danaos Corp (DAC), Euroseas (ESEA), Global Ship Lease (GSL), and Navios Maritime Partners (NMM). Included market content should be relevant for investors in all of these names.
Topics Covered
(1:45) What is primarily driving the market strength? How long can it last?
(4:15) What are the primary risks for investors to watch?
(10:45) How large is the discount for 2-3 year charters versus 1y quotes?
(12:45) The Harpex index is due for a massive upward revision?!
(15:15) How far in advance are you fixing your vessels?
(18:00) Are there any opportunities to acquire more secondhand tonnage?
(21:00) Any clear negatives to recent containership transactions?
(23:45) Plans for a dividend? Expected timeline for first payout?
(26:15) Current economics for newbuild tonnage for feeders/midsize?
(30:30) Upcoming impact from 2023 EEXI and/or bunker fuel tax?
(34:30) Any impact/concern due to the increased focus on ‘green recycling?’
(37:15) Current economics from scrubbers? Any plans to add more?
(41:15) What differentiates MPCC? Why choose this stock over others?
(44:00) Future plans for a US listing?
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