Transport and Logistics
In December 2017, STAR acquired a cornerstone shareholding in MPC Container Ships AS (“MPCC”), an Oslo based shipping company. MPCC owns and operates a portfolio of container ships between 1,000 and 3,500 twenty-foot equivalent units (“TEU”) that primarily serve intra-regional trade routes.
STAR invested in MPCC at the early stages of the company’s journey. The investment strategy was to create a leading owner and operator of intra-regional container vessels through acquisitions, and to create value from operational and scale efficiencies, as well as from a recovery in asset prices and charter rates which were below the 15/20 year averages.
During STAR’s ownership, MPCC was uplisted from the Merkur Markt in Oslo, Norway to the Oslo Bors, which helped pave the way for further growth. The funds raised by MPCC were used to implement a successful investment strategy, building the management team from a team of two to over 20, and growing the fleet from 26 to 67 vessels (including 4 new builds)*, becoming a leading tonnage provider in its category.
During the course of 2021 and 2022, STAR made partial exits in its shareholding in MPCC. STAR sold its remaining shareholding in MPCC in October 2022.
*At the time of STAR’s exit in October 2022
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