Gram Car Carriers ASA signed a six-year contract with Armacup Ltd. as reported by Euronext.
Agreed contract
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 day rate 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.
Long-term earnings
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
a subsidiary of a leading player in this market. The time charter 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.
Did you subscribe to our newsletter?
It’s free! Click here to subscribe!
Source: Euronext
