Gram Car Carriers signs TC contracts for Viking Diamond and Viking Ocean

Oslo, 5 September 2022: Gram Car Carriers ASA (“GCC”) is pleased to announce that the company has signed two five-year timecharter contracts with a major operator for the mid-size vessels Viking Diamond (4,200 CEU) and Viking Ocean (4,200 CEU), adding a total of USD 127.8 million of future revenue to the contract backlog.

The charters are structured with a tapered dayrate profile, starting at USD 50,000 per day per vessel for year one, before declining stepwise to USD 20,000 per day per vessel for year five.

Georg A. Whist, the CEO of GCC, commented: “We appreciate the trust shown to Gram Car Carriers from our long-term customers as we continue to build our backlog and long-term earnings visibility in support of our strategy of providing increased direct returns to shareholders through attractive dividends."

Both vessels will start the new contracts in the first quarter of 2023 upon completion of their current timecharters. GCC has 30% and 58% revenue days open for 2023 and 2024, respectively, following these contracts.

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 5 September 2022 at 14.30 CEST.