Gram Car Carriers Completes Vessel Swap and Signs Five-Year TC Contract for Viking Emerald

Oslo, March 29, 2022: Gram Car Carriers ASA (“GCC”) is pleased to announce that the company has signed a five-year time charter contract for the MV Viking Emerald (4,200 CEU) with a leading Asian operator. The contract begins in May 2022 at a time charter rate of $28,000 per day, providing a total contract value of approximately $51 million over the five-year period.

Viking Emerald was originally contracted to another major Asian operator on a two-year time charter from May 2022. GCC agreed to trade the Viking Emerald for the Viking Coral (4,200 CFU), which comes out of charter during the same period to cover the two-year contract.

Georg A. Whist, CEO of GCC, commented, “This contract underscores improving market fundamentals and GCC’s ideal position to capture this strengthening market. Chartering represents a new level of daily rate and term for this type of vessels, increasing the visibility of our long-term earnings and our ability to provide direct returns to shareholders through attractive dividends.”

GCC has 20% and 65% open revenue days for 2022 and 2023, respectively, following this latest contract.

For more information, please contact:

CEO Georg A. WhistTelephone: +47 41 60 16 81
Email: [email protected]

CFO Gunnar S. Kolwhere
Telephone: +65 9176 6661
Email: [email protected]

On Gram Car Carrier:
GCC is the world’s third largest tonnage provider in the Pure Car Truck Carriers (PCTCs) segment with 18 vessels, across Distribution, Midsize and panamax segments. The company is a trusted provider of high-quality vessels and logistics solutions ensuring safe, efficient and on-time shipment of vehicles for a network of customers including major global and regional PCTC operators.

This information is considered inside information under the EU Market Abuse Regulation and is subject to disclosure requirements under section 5-12 of the Norwegian Securities Act. This stock Exchange press release was published by mas gramproject manager at Gram Car Carrierto March 29, 2022 at 9:36 p.m. CET.

https://news.cision.com/gram-car-carriers-asa/r/gram-car-carriers-executes-vessel-swap-and-signs-five-year-tc-contract-for-viking-emerald, c3525956

(c) Decision 2022. All rights reserved., sources Press Releases – English

Comments are closed.