Photo credit: Gram Car Carriers

Norway´s Gram Car Carriers, a large tonnage provider within the Pure Car Truck Carriers segment, seals three-year time charter deals for the 2,000 ceu distribution vessels City of Oslo and Viking Odessa, adding USD 61 million to backlog.

The contract has been signed with a leading European operator with a dayrate of USD 27,750 per day for each vessel. The new contracts are set to start during the second quarter of 2023, and will add approximately USD 61 million of future revenue to the contract backlog.

With these new contracts, Gram Car Carriers has 3%, 20% and 24% of total available revenue days open for 2023, 2024 and 2025, respectively, as the company notes.

Georg A. Whist, the CEO of GCC, commented: “We continue to sign long-term contracts reflecting favourable car shipping market fundamentals and are now pleased to see the strong demand and limited vessel supply also impacting the Distribution segment as we have previously communicated. A significant share of our revenue days through 2025 are now covered at attractive dayrates which support continued growth in earnings and capacity to provide attractive shareholder distributions over time.”

Gram Car Carriers is a large tonnage provider within the Pure Car Truck Carriers segment with 19 vessels, across the Distribution, Mid-size and Panamax segments.