MPC Capital is wasting no time in spending the cash it raised to acquire feeder vessels in the container shipping market.

The German operation is understood to have bought at least four sub-panamax vessels for $20m.

The acquisitions include the 1,118-teu Shippan Island (built 2005), which is reported sold for $5.5m.

The vessel has been acquired from Soundview Maritime, which bought it with private equity buyers in 2011.