Gram Car Carriers agrees three-year charter extension with Höegh Autoliners

Norway’s Gram Car Carriers (GCC) has agreed a three-year charter with Höegh Autoliners for the 2,000 ceu vessel Höegh Caribia.

The contract starting in January 2023 is for $22,000 per day, adding around $24m of future revenue to GCC’s contract backlog.

The 2010-built vessel has been operated by Höegh Autoliners since delivery, supporting the distribution of cargo from overseas markets to the Caribbean islands and South America.

“With the prolongation of the contract of this small and specialised vessel, Höegh Autoliners does not have vessels for renewal before 2025,” said Andreas Enger, CEO of Höegh Autoliners, adding: “Our deep sea network is fully covered by owned vessels or long-term charters with attractive purchase options, supplemented by a limited use of space charters.”

Georg A. Whist, the CEO of GCC, remarked: “We continue to increase our backlog and future revenue visibility in a strong car shipping market. Open capacity for 2023 is limited, and we have secured a significant share of our 2024 revenue days at attractive dayrates. 

In October, Oslo-listed GCC secured a five-year charter deal with a new customer for its 6,700 ceu panamax vessel Viking Destiny at around $65,000 per day in direct continuation to its current contract.

Following the Höegh contract, GCC has 14% revenue days open for 2023 and 38% open for 2024.

Adis Ajdin

Adis is an experienced news reporter with a background in finance, media and education. He has written across the spectrum of offshore energy and ocean industries for many years and is a member of International Federation of Journalists. Previously he had written for Navingo media group titles including Offshore Energy, Subsea World News and Marine Energy.
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