Law firm Stephenson Harwood LLP has advised MPC Container Ships (MPCC) on its recent US$102 million loan facility from Crédit Agricole Corporate and Investment Bank (CACIB).
The loan facility will finance MPCC's acquisition of two wide beam eco-design container ships under construction at HJ Shipbuilding & Construction in South Korea and due for delivery in 2024. The facility is backed by Korea Trade Insurance Corporation (K-SURE) and consists of K-SURE-insured tranches and commercial tranches.
The vessels' eco-design will have a significant impact on MPCC's trading capacity and improve the environmental footprint of the MPCC fleet.
Upon delivery, the vessels will be chartered to ZIM Integrated Shipping Services on seven-year time charters.
MPCC is an international containership company specialising in serving intra-regional trade lanes, and owns and operates one of the largest feeder fleets globally.
The Stephenson Harwood team was led by partner Dora Mace-Kokota and managing associate Roderick McGeachy.
