Gram Car Carriers signs 5-year TC for Viking Destiny, adding USD 118.6 million to contracted revenue backlog

Oslo, 18 October 2022: Gram Car Carriers ASA (“GCC”) is pleased to announce that the company has signed a five-year timecharter contract with a major global industry player for the panamax vessel Viking Destiny (6,700 CEU).

The contract adds USD 118.6 million of future revenue to the contract backlog. The new timecharter will commence in March 2023 in direct continuation to the vessel’s current contract.

Georg A. Whist, the CEO of GCC, commented: "We continue to renew contracts for our vessels at dayrates and durations that reflect the strong car shipping market fundamentals in line with our strategy. The new timecharter contract is with a major industry player and a new customer for GCC, and it strengthens our long-term earnings visibility and capacity to provide attractive dividends.”

With this new contract for Viking Destiny, GCC has 20% and 43% revenue days open for 2023 and 2024, respectively.

For further information, please contact:

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

IR Mas Gram
Telephone +47 95 41 00 93

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 18 October 2022 at 11.05 CEST.