Gram Car Carriers signs 3-year TC contract for City of Oslo and Viking Odessa, adding USD 61 million to backlog

23 Feb 2023 16:45 CET

Oslo, 23 February 2023: Gram Car Carriers ASA ("GCC") is pleased to announce
that the company has signed three-year time charter contracts for the
distribution vessels City of Oslo (2,000 CEU) and Viking Odessa (2,000 CEU) with
a leading European operator.

The dayrate is USD 27,750 per day for each vessel and the contract adds
approximately USD 61 million of future revenue to the contract backlog. The new
contracts will commence during the second quarter of 2023.

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."

With these new contracts, GCC has 3%, 20% and 24% of total available revenue
days open for 2023, 2024 and 2025, respectively.

For further information, please contact:

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

IR Mas Gram
Telephone +47 95 41 00 93
E-mail: mas.gram@gramcar.com

About Gram Car Carriers:
GCC is the world's third-largest tonnage provider within the Pure Car Truck
Carriers (PCTCs) segment with 19 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, IR responsible at Gram Car Carriers, on            23
February 2023 at 16.45 CET.

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