Gram Car Carriers signs 3-year TC contract for City of Oslo and Viking Odessa, adding USD 61 million to backlog

Oslo, 23 February 2023: Gram Car Carriers ASA (“GCC”) is pleased to announce that the company has signed three-year time charter contracts for the distribution vessels City of Oslo (2,000 CEU) and Viking Odessa (2,000 CEU) with a leading European operator.

The dayrate is USD 27,750 per day for each vessel and the contract adds approximately USD 61 million of future revenue to the contract backlog. The new contracts will commence during the second quarter of 2023.

Georg A. Whist, the CEO of GCC, commented: "We continue to sign long-term contracts reflecting favourable car shipping market fundamentals and are now pleased to see the strong demand and limited vessel supply also impacting the Distribution segment as we have previously communicated. A significant share of our revenue days through 2025 are now covered at attractive dayrates which support continued growth in earnings and capacity to provide attractive shareholder distributions over time.”

With these new contracts, GCC has 3%, 20% and 24% of total available revenue days open for 2023, 2024 and 2025, 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 19 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, IR responsible at Gram Car Carriers, on            23 February 2023 at 16.45 CET.