MPCC seals $102m funding for new container ships with Credit Agricole

Oslo-listed owner finances duo with backing from South Korea’s K-Sure

5 June 2023 13:48 GMT Updated 5 June 2023 13:48 GMT

in London

MPC Container Ships (MPCC) has fixed financing for its new panamax container ships with France’s Credit Agricole (CACIB).

UK law firm Watson Farley & Williams (WFW), which advised the lender, said the facility is worth $102m and is backed by Korea Trade Insurance Corporation (K-Sure).

Transfer of $10bn Credit Suisse shipping book expected to close in a week

The loan comprises a K-Sure-insured tranche and a commercial tranche relating to each of two 5,500-teu ships on order at HJ Shipbuilding & Construction (HJSC) in South Korea.