Gram Car Carriers fixes another panamax for five years in $118m deal

Oslo-listed Gram Car Carriers (GCC) has sealed another lucrative deal for one of its ships. A five-year timecharter has been agreed with an undisclosed European operator for the 6,700 ceu panamax vessel Viking Bravery. The 2015-built vessel is the third out of GCC’s four panamaxes now fixed on long-term charters.

The charter at an average dayrate of $64,900 per day will start in July next year adding around $118m of future revenue to the company’s contract backlog. The contract will start at $73,000 per day for the first year, before declining stepwise to $53,000 per day for the final year.

The deal comes with options attached to extend the charter for a further three years at $48,000 per day.

Gram Car Carriers, which operates 22 ships, said it has just 10% and 32% revenue days remaining for 2023 and 2024, respectively. In October it landed a $118.6m five-year charter for the 6,700 ceu panamax Viking Destiny and most recently agreed a three-year extension with Höegh Autoliners for the 2,000 ceu Höegh Caribia.

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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