Gram Car Carriers signs TC contracts for Viking Constanza, Viking Odessa and City of Oslo

Oslo, 20 July 2022: Gram Car Carriers ASA (“GCC”) is pleased to announce that the company has signed a 14-month contract with a Leading Asian operator for the distribution vessel MV Viking Constanza (2,000 CEU), starting in August 2022.  With this fixture, GCC is sold out for 2022 but still have 41% open for 2023 and 70% for 2024.

The agreed contract has a day-rate of USD 17,000 over the charter period, providing a total contract value of approximately USD 7.2 million.

Separately, GCC recently extended the contracts for the Viking Odessa (2,000 CEU) , and City of Oslo (2,000 CEU) with existing charterers both until the second quarter of 2023. The total value of the contract extensions for the two distribution vessels is USD 9.1 million.

Georg A. Whist, the CEO of GCC, commented: “We are pleased to sign new contracts and extensions for our distribution vessels with leading operators and existing customers at higher day-rates. This reflects strong car shipping market fundamentals across all vessel sizes and supports our long-term earnings visibility and direct shareholder returns through attractive dividends."

For further information, please contact:

CEO Georg A. Whist
Telephone: +47 41 60 16 81

CFO Gunnar S. Koløen
Telephone: +65 9176 6661

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 20 July 2022 at 13.55 CEST.