MSC REVISES SERVICES IN MIDDLE EAST, INDIAN SUBCONTINENT

 MSC is pleased to announce the enhancement of its Middle East, Indian Subcontinent & U.S. East Coast network, which now includes 3 distinct services. MSC has revised the rotation of the existing Indus Express service and Indusa service and is also launching a new Indus 2 service, starting on 30 August 2021: -  The Indus Express service will focus on Northwest India, Pakistan, the Middle East and U.S. East Coast markets. -  

The Indusa service will connect Southeast India, Sri Lanka, and Bangladesh to U.S. East coast, with a call at Colombo in Sri Lanka to reinforce our offering for cargo shippers in the Indian subcontinent. -  The Indus 2 service will focus on Northwest India and U.S. East Coast markets. All 3 services will operate as standalone MSC services offering competitive transit times from the Middle East and Indian subcontinent region to the U.S.

MPC CONTAINER SHIPS SECURES $70 MILLION REVOLVING CREDIT FACILITY WITH CIT GROUP

MPC Container Ships ASA is pleased to announce that it has entered into a USD 70 million three-year revolving credit facility agreement with CIT Group at attractive terms. An initial drawdown of USD 40 million has been used to refinance existing debt. 

As a consequence, the previous term loans with Beal Bank and CIT have been repaid in full. Further drawdowns under the facility will strengthen the free liquidity and may be used for vessel upgrades, investments or general corporate purposes. 

CEO Constantin Baack comments in relation to the announcement: "Having secured significant charter backlog, we are pleased to add a flexible instrument to our capital structure, whilst adhering to our strategy of moderate leverage. By securing the facility we are able to reduce our financing costs and extend the maturity.