Gram Car Carriers signs 6-year TC for Viking Passama adding USD 72.9 million of contract backlog

Oslo, 30 May 2022: Gram Car Carriers ASA (“GCC”) is pleased to announce that the company has signed a six-year contract with Armacup Ltd. the mid-size vessel MV Viking Passama (5,000 CEU), until the fourth quarter of 2028.

The agreed contract has a dayrate of USD 33,300 over the charter period, providing a total contract value of approximately USD 72.9 million. Armacup is a subsidiary of the Wallenius Wilhelmsen Group.

Georg A. Whist, the CEO of GCC, commented: “We are pleased to sign another landmark contract which reflects strong car shipping market fundamentals with a subsidiary of a leading player in this market. The timecharter strengthens our long-term earnings visibility and ability to provide direct shareholder returns through attractive dividends."

GCC has 7% and 52% revenue days open for 2022 and 2023, respectively, following this latest contract.

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 30th May 2022 at 15.12 CET.