Norway´s Gram Car Carriers, a large tonnage provider within the pure car truck carriers’ segment, has sealed a deal to refinance the leasing debt for the 6,700 ceu, 2015-built, panamax vessel Viking Bravery with a new $35m term loan.
The new term loan is provided by DekaBank Deutsche Girozentrale and has a maturity that matches the duration of the vessel’s current time charter contract.
The loan will be used to repurchase the ship Viking Bravery which has since January 2022 been financed with lease debt.
Georg A. Whist, chief executive of GCC, said: “We have successfully rechartered our fleet on long-term contracts in a strong car shipping market, building a record revenue backlog and long-term cash flow visibility. The Viking Bravery refinancing demonstrates that our robust financial position and credit quality is appreciated by leading credit institutions. We are also very pleased to expand our bank group to include DekaBank.”
Earlier this year GCC, which has in its fleet portfolio 19-owned vessels, made a five-year charter deal for the 7,000 ceu panamax vessel Viking Queen, and added approximately $114m of future revenue to the contract backlog.
