Gram Car Carriers charters out latest vessel acquisition 

Norway’s Gram Car Carriers (GCC) secured a three-year time charter with an undisclosed Asian operator for the 5,000 ceu Passero. The 2012-built car carrier is one of the two vessels recently acquired from German owner F. Laeisz in exchange for new shares in a private placement worth around $61.6m. 

The vessel will commence its contract in May this year at a time charter rate of $27,700 per day, providing a total contract value of around $30m over the charter period.

Georg A. Whist, the CEO of GCC, commented: “This contract confirms that we are in a strong and firming market which is reflected in attractive returns and longer contract durations. The new charter increases our long-term earnings visibility and ability to provide direct shareholder returns through attractive dividends.”

The Norwegian owner has a fleet of 18 vessels on a fully delivered basis. Upon completion of the transaction with F. Laeisz and the new charter, GCC has 20% and 71% revenue days open for 2022 and 2023, respectively, the company said in an Oslo Exchange filing on Thursday.

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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