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    GCC   NO0011109563

GRAM CAR CARRIERS ASA

(GCC)
  Report
Real-time Oslo Bors  -  10:29 2022-12-02 am EST
160.04 NOK   +0.59%
11/30Gram Car Carriers : Approval and publication of prospectus and admission to trading on the Oslo Stock Exchange's main list
AQ
11/30Gram Car Carriers Asa : New share capital registered
AQ
11/29Gram Car Carriers : Issuance of consideration shares and mandatory notification of trade in connection with acquisition of Paglia
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Gram Car Carriers signs 5-year TC for Viking Sea adding USD 55.8 million of contract backlog

07/04/2022 | 11:54am EST

Oslo, 4 July 2022: Gram Car Carriers ASA ("GCC") is pleased to announce that the company has signed a five-year contract with Zim Integrated Shipping Services Ltd.  ("Zim") for the mid-size vessel MV Viking Sea (4,200 CEU), until the fourth quarter of 2027.

The agreed contract has an average dayrate of USD 30,612 over the charter period, providing a total contract value of approximately USD 55.8 million. The Viking Sea is currently on a 12-month timecharter to a wholly owned subsidiary of Zim until October 2022, trading mainly between Far East Asia and Europe. The new contract will commence in direct continuation to the current charter.

Georg A. Whist, the CEO of GCC, commented: "We are pleased to continue to increase our contract backlog with new timecharters with leading operators. This confirms the favourable market fundamentals and supports our long-term earnings visibility and ability to provide direct shareholder returns through attractive dividends."

GCC has 3%, 45% and 70% revenue days open for 2022, 2023 and 2024, respectively, following this latest contract.

For further information, please contact:

CEO Georg A. Whist
Telephone: +47 41 60 16 81
E-mail: georg.whist@gramcar.com   

CFO Gunnar S. Koløen
Telephone: +65 9176 6661
E-mail: gunnar.koloen@gramcar.com

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.

This information is considered to be inside information pursuant to the EU Market Abuse Regulation and subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act. This stock exchange release was published by Mas Gram, Head of Projects at Gram Car Carriers, on 4 July 2022 at 17.53 CEST.

http://publish.ne.cision.com//Release/ViewReleaseHtml/72A1A0A3A2D4A0C7E0C856B0705FC7D6

(c) 2022 Cision. All rights reserved., source Press Releases - English

Stocks mentioned in the article
ChangeLast1st jan.
GRAM CAR CARRIERS ASA 0.59% 160.04 Real-time Quote.0.00%
ZIM INTEGRATED SHIPPING SERVICES LTD. -2.69% 19.54 Delayed Quote.-65.87%
All news about GRAM CAR CARRIERS ASA
11/30Gram Car Carriers : Approval and publication of prospectus and admission to trading on the..
AQ
11/30Gram Car Carriers Asa : New share capital registered
AQ
11/29Gram Car Carriers : Issuance of consideration shares and mandatory notification of trade i..
AQ
11/29Gram Car Carriers : Completion of acquisition of mid-size car carrier Paglia
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11/23Oslo Børs Admits Gram Car Carriers to Trading
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11/23Oslo Børs - Decision on admission to trading - Gram Car Carriers ASA
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11/14Correction : Gram Car Carriers signs 5-year TC contract for Viking Bravery, adding USD 118..
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11/11Gram Car Carriers Asa : Mandatory notification of trade by close associate
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11/10Gram Car Carriers signs 5-year TC contract for Viking Bravery, adding USD 118 million t..
AQ
11/10Gram Car Carriers Asa Signs 5-year TC Contract for Viking Bravery, Adding USD 118 Milli..
CI
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Financials (USD)
Sales 2022 116 M - -
Net income 2022 22,8 M - -
Net Debt 2022 323 M - -
P/E ratio 2022 20,5x
Yield 2022 2,14%
Capitalization 485 M 485 M -
EV / Sales 2022 6,99x
EV / Sales 2023 3,59x
Nbr of Employees 10
Free-Float 31,1%
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Mean consensus BUY
Number of Analysts 2
Last Close Price 16,57 $
Average target price 24,23 $
Spread / Average Target 46,3%
EPS Revisions
Managers and Directors
Georg Alexander Whist Chief Executive Officer
Gunnar Kol°en Chief Financial Officer
Ivar Hansson Myklebust Chairman
B°rre Mathisen Chief Operating Officer
Alasdair James Dougall Locke Director