MPC Capital Expands Managed Tanker, Bulker Fleet

TankerIllustration; Source: Unsplash/Shaah Shahidh

Hamburg-based asset and investment manager MPC Capital witnessed an increase in management services on the back of a fleet expansion.

Revenues from management services rose from EUR 8.1 million (USD 9 million) in the previous year to EUR 8.9 million (USD 9.9 million) in the first quarter of 2019, mainly attributable to the expansion of the managed vessel fleet.

In the shipping sector, the MPC Capital Group has expanded its range of services in the technical management of tankers. In addition, with the accession of a further partner, the operational platform for the technical management of bulk carriers was expanded under the management of MPC Capital.

With the merger expected to take place at the end of the second quarter, the fleet managed by the joint venture will thus grow to 17 bulkers. In addition, MPC Capital was able to execute asset transactions in all three segments, including tankers, bulk, containers, in the first quarter.

The company’s quarterly revenues and EBT were at previous year’s level. Revenues reached EUR 10 million, a slight decline compared to EUR 10.1 million in the first quarter of 2018. The decreased is primarily due to lower transaction activity in the first three months of the current financial year.

This was almost completely offset by higher recurring revenues from asset management.

For the 2019 financial year, MPC Capital continues to forecast a slight increase in sales and at least break-even earnings before taxes. A more dynamic development in new business, additional transactions and the exploitation of external market influences “could have a positive effect on sales and earnings,” the company concluded.

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