Oslo, 5 September 2022: Gram Car Carriers ASA ("GCC") is pleased to announce
that the company has signed two five-year timecharter contracts with a major
operator for the mid-size vessels Viking Diamond (4,200 CEU) and Viking Ocean
(4,200 CEU), adding a total of USD 127.8 million of future revenue to the
contract backlog.
The charters are structured with a tapered dayrate profile, starting at USD
50,000 per day per vessel for year one, before declining stepwise to USD 20,000
per day per vessel for year five.
Georg A. Whist, the CEO of GCC, commented: "We appreciate the trust shown to
Gram Car Carriers from our long-term customers as we continue to build our
backlog and long-term earnings visibility in support of our strategy of
providing increased direct returns to shareholders through attractive
dividends."
Both vessels will start the new contracts in the first quarter of 2023 upon
completion of their current timecharters. GCC has 30% and 58% revenue days open
for 2023 and 2024, respectively, following these contracts.
For further information, please contact:
CEO Georg A. Whist
Telephone: +47 41 60 16 81
E-mail: georg.whist@gramcar.com
CFO Gunnar S. Koløen
Telephone: +65 9176 6661
E-mail: gunnar.koloen@gramcar.com
About Gram Car Carriers:
GCC is the world's third-largest tonnage provider within the Pure Car Truck
Carriers (PCTCs) segment with 18 vessels, across the Distribution, Mid-size and
Panamax segments. The Company serves as a trusted provider of high-quality
vessels and logistics solutions ensuring safe, efficient and punctual shipment
of vehicles for a network of clients comprising of major global and regional
PCTC operators.
This information is considered to be inside information pursuant to the EU
Market Abuse Regulation and subject to the disclosure requirements pursuant to
Section 5-12 the Norwegian Securities Trading Act. This stock exchange release
was published by Mas Gram, Head of Projects at Gram Car Carriers, on 5 September
2022 at 14.30 CEST.