MPC Container Ships (MPCC) has revealed one of its boxships has been declared a constructive total loss (CTL) - and that it will use the insurance payout to fund new scrubber retrofits.

The Oslo-listed company said the 1,341-teu AS Fortuna (built 2009), entered with the UK P&I Club, grounded in September 2018. It is lying off Ningbo, China.

Insurance cash amounts to $6.5m,