Gram Car Carriers Amounts Contract Backlog To USD 72.9 Million

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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.

 

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Source: Euronext