Constantin Baack
Chief Executive Officer

Good morning, everyone, and thank you for joining us for MPC Container Ships’ Second Quarter Earnings Call. This is Constantin Baack speaking, and I’m joined today by my colleague and Co-CEO and CFO, Moritz Fuhrmann.

Before we begin, please note that today’s discussion includes forward-looking statements as well as indicative figures. Actual results may differ materially due to risks and uncertainties inherent in our business. I would like to open today’s presentation with a very short reflection. We are pleased to report another solid quarter, both financially and operationally. What stands out to us is the continued modernization and transformation of our fleet, together with the visibility we now have over our backlog and cash flows for the years ahead. This is not by chance, but by design, the result of a series of deliberate steps we have taken over recent quarters and years.

With a contract revenue backlog of $2.2 billion and coverage extending well into 2029 and beyond, we believe this visibility leaves us very well positioned for the future. Even as the broader market remains volatile and hard to predict, conditions in our segment have stayed firm.

With that backdrop, let me hand over to Moritz to walk us through the highlights of the quarter.

Moritz Fuhrmann
Co-CEO & CFO

Thank you, Constantin. Also good morning from my side. And let’s start with the agenda for today. First, our business update, the quarter’s operational highlights, the fleet transaction and our balance sheet position; second, the market update; and thirdly, we’ll close with our company outlook.

Wes Streeting made a visit to Devonport which will soon be home to Britain’s new anti-submarine warships

Plymouth naval base Devonport is “critical” to keeping the UK safe, the defence secretary has said. Wes Streeting made the comments on a visit to the dockyard where he saw facilities being built to support future submarines.

The base – the largest of its kind in Western Europe – is home to Royal Marines and UK Commando Forces and will also soon house Britain’s new Type 26 frigates. A total of eight of these anti-submarine warships are being built for the Royal Navy by BAE Systems and are expected to enter service from 2028.

“The work done here at Devonport is critical to keeping our country safe,” said Mr Streeting. “From our Commando Forces ready to deploy at a moment’s notice, to our Navy personnel and industry who maintain our submarines – Plymouth is a city where defence runs in the blood.

“As we bring the Type 26 fleet to Devonport in the coming years, we’re investing in this base and our forces, ensuring it will remain at the heart of our naval power for generations to come, and continuing to push the frontier of defence innovation.”

Devonport is the only facility in the UK responsible for the deep maintenance and defueling of the Royal Navy’s nuclear submarine fleet. The work involves keeping the fleet available and operational, while its defueling capability supports the decommissioning of older submarines at the end of their service life.

Luke Pollard, MP for Plymouth Sutton and Devonport, said: “This is a base with a proud history and an even brighter future. The Type 26 fleet and the continued investment in our submarine capability means Devonport will remain vital to the defence of this country, and vital to jobs and skills here in Plymouth.”

Mr Streeting’s visit comes a month after the government announced that Devonport would receive £7.1bn for upgrades over the next decade in a bid to improve the Royal Navy’s “readiness, availability and lethality”, while supporting thousands jobs in the West of England. The funding is part of a £26bn package of measures that also includes investment in HMNB Clyde and HMNB Portsmouth, including new submarine docks, waterfront facilities, berths and jetties.

The government’s Defence Investment Plan has pledged to transform the UK Commando Forces by funding new high-speed boats and the latest drone and autonomous technology.

In September, Plymouth was also named as one of five key defence growth areas in the UK Defence Industrial Strategy.

A snack company is recalling certain lots of donuts after an allergic reaction was reported, the U.S. Food and Drug Administration (FDA) said Monday.

The Better Bakehouse Snack Company said select lots of Donutful Chocolate Dipped Vanilla Cake Donuts were being recalled because the product may contain undeclared milk.

The manufacturer discovered the donuts were mislabeled and has taken “corrective measures,” the FDA said.

FDA WIDENS CYCLOSPORA OUTBREAK INVESTIGATION TO SIX MORE STATES AS CONFIRMED CASES TOP 6,000

The Better Bakehouse Snack Company said select lots of Donutful Chocolate Dipped Vanilla Cake Donuts were being recalled because the product may contain undeclared milk. (FDA / Fox News)

“People who have an allergy or severe sensitivity to milk run the risk of serious or life-threatening allergic reaction if they consume this product,” warned the recall notice. The person who became ill has recovered, officials said.

LETTUCE FARMERS PLOW CROPS BACK INTO SOIL AS CYCLOSPORIASIS FEARS TANK DEMAND FOR FRESH GREENS

A sign for the Food And Drug Administration is seen outside of the headquarters on July 20, 2020 in White Oak, Maryland.  (Photo by Sarah Silbiger/Getty Images / Getty Images)

The recall is limited to certain lots made and distributed in March 2026: Donutful Chocolate Dipped Vanilla Cake Donuts, 10 Mini Donuts, packaged in a 7.05 oz carton containing five 1.41-ounce pouches, with UPC: 3 50041 39210 3.

The product was distributed to retailers nationwide and through Amazon.com, the FDA said.

The Better Bakehouse Snack Company said select lots of Donutful Chocolate Dipped Vanilla Cake Donuts were being recalled because the product may contain undeclared milk. (Getty Images / Getty Images)

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“Consumer safety is The Better Bakehouse Snack Company’s #1 priority and the company maintains rigorous food safety and quality control standards,” the company said in a statement released by the FDA. “The Better Bakehouse Snack Company is working with the contract manufacturer and retailers to remove any remaining affected product from the marketplace.”

This article was written by

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