Gram Car Carriers ASA: Company update and presentation
Oslo, 18 February 2022 – Gram Car Carriers ASA (“GCC”), the world’s third largest car carrier tonnage provider, today provides a review of operations in Q4 2021 and an update on recent market developments and corporate events.
Key events:
- GCC established as a leading PCTS tonnage provider and listed on Euronext Growth from 31 January 2022
- Operating a fleet of 18 owned and 4 third-party vessels after completion of all transactions and vessel acquisitions
- Q4 2021 average TCE revenue: Panamax USD 16,690, Mid-size USD 15,100 and
Distribution fleet USD 10,540 - Long-term charter for M/S Viking Passero confirms ongoing market upcycle
- GCC ideally positioned to capture a strengthening market with 20%/71% open days in 2022/23
The company’s contract backlog stands at approximately USD 150 million following the recent signing of a three-year charter for the M/S Viking Passero.
"Gram Car Carriers is ideally positioned to capture the upside in a firming PCTC market with strong demand fundamentals and a favourable and predictable supply side. This is reflected in operators fixing new contracts at higher dayrates and with longer durations. We have several vessels coming up for contract renewal which is expected to provide a steady newsflow in the coming months. With increased charter rates and longer contract durations, we expect growth in earnings and improved visibility in support of direct shareholder returns through attractive dividends,” said Georg Whist, the CEO of Gram Car Carriers.
Financial reporting according to IFRS will commence with the Q1 2022 results scheduled for release on 28 April, as Gram Car Carriers ASA completed all asset transfer transactions with the Singapore structure and F. Laeisz assets on 25 January 2022.
Presentation
The company will today at 11:00 CET hold a presentation hosted by Georg A. Whist, the CEO of GCC, and Gunnar S. Koløen, the CFO. The presentation will be held in English and conducted as a webcast with a live Q&A session at the end.
Use the following link to register for the presentation: https://invitepeople.com/events/207397aca7ebc0
Questions may be submitted online during the presentation.
The presentation material is attached to this release and is available on the company’s website. A recording of the presentation will also be made available.
For further information, please contact:
CEO Georg A. Whist
E-mail: [email protected]
CFO Gunnar S. Koløen
E-mail: [email protected]
About Gram Car Carriers:
GCC is the world's third-largest tonnage provider within the Pure Car Truck Carriers (PCTCs) segment with 18 vessels, across the Distribution, Mid-size and Panamax segments. The Company serves as a trusted provider of high-quality vessels and logistics solutions ensuring safe, efficient and punctual shipment of vehicles for a network of clients comprising of major global and regional PCTC operators. To lean more, please visit gramcar.com.
This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act.
