Gram Car Carriers secures $73m for six-year charter

Norway’s Gram Car Carriers (GCC) has sealed a new six-year charter deal worth approximately $72.9m for the 5,000 ceu Viking Passama.

The agreed contract, with Armacup, a subsidiary of Wallenius Wilhelmsen, has a day rate of $33,300 until the fourth quarter of 2028.

Georg A. Whist, the CEO of GCC, commented: “We are pleased to sign another landmark contract which reflects strong car shipping market fundamentals with a subsidiary of a leading player in this market. The timecharter strengthens our long-term earnings visibility and ability to provide direct shareholder returns through attractive dividends.”

Following the latest contract, GCC said it had 7% and 52% of revenue days open for 2022 and 2023, respectively. The company is the world’s third-largest tonnage provider within the pure car truck carrier (PCTC) segment, with a fleet of 18 ships.

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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