Norway’s Gram Car Carriers (GCC) has sealed a new five-year charter deal worth approximately $55.8m for the 4,200 ceu Viking Sea.
The Oslo-listed company has chartered out the 2012-built vessel to Israeli ship operator Zim Integrated Shipping Services until the fourth quarter of 2027 at an average dayrate of $30,612.
The vessel is currently on a 12-month time charter to Zim’s subsidiary until October 2022, trading mainly between Far East Asia and Europe, and the new contract will commence in direct continuation of the current charter.
End-May, the world’s third-largest tonnage provider within the pure car truck carriers segment with 18 vessels, added around $73m through a six-year charter deal with Armacup, a subsidiary of Wallenius Wilhelmsen, for the 5,000 ceu Viking Passama. Following the latest contract, GCC said it had 3%, 45%, and 70% of revenue days open for 2022, 2023 and 2024, respectively.
Guess I’ll have to buy some more ZIM, even if Revenue drops 50% their PE will still be under five with a really nice dividend. It stinks that the government takes 25% of it but still nice