Gram Car Carriers signs 5-year TC for Viking Sea adding USD 55.8 million of contract backlog

Oslo, 4 July 2022: Gram Car Carriers ASA (“GCC”) is pleased to announce that the company has signed a five-year contract with Zim Integrated Shipping Services Ltd.  (“Zim”) for the mid-size vessel MV Viking Sea (4,200 CEU), until the fourth quarter of 2027.

The agreed contract has an average dayrate of USD 30,612 over the charter period, providing a total contract value of approximately USD 55.8 million. The Viking Sea is currently on a 12-month timecharter to a wholly owned subsidiary of Zim until October 2022, trading mainly between Far East Asia and Europe. The new contract will commence in direct continuation to the current charter.

Georg A. Whist, the CEO of GCC, commented: “We are pleased to continue to increase our contract backlog with new timecharters with leading operators. This confirms the favourable market fundamentals and supports our long-term earnings visibility and ability to provide direct shareholder returns through attractive dividends."

GCC has 3%, 45% and 70% revenue days open for 2022, 2023 and 2024, respectively, following this latest contract.

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 4 July 2022 at 17.53 CEST.